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Speaker 1: News When you want. It's with Bloomberg News Now. I'm

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Speaker 1: Doug Prisner. Boeing has again stopped delivering aircraft to customers

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Speaker 1: in China. This halt stems from a request by Chinese

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Speaker 1: authorities for additional information related to batteries used in cockpit

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Speaker 1: voice recorders. US Treasury Secretary Janet Yellen saying today it's

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Speaker 1: critical for the US and Europe to present a united

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Speaker 1: front against Chinese industrial overcapacity.

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Speaker 2: G SIFNIS collectively recognized the need to protect our workers

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Speaker 2: and businesses from unfair practices, and overcapacity threatens the viability

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Speaker 2: of firms around the world, including in emerging markets. I

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Speaker 2: believe it also poses a challenge to China's growth.

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Speaker 1: Yellen was speaking at the meeting of G seven finance

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Speaker 1: ministers and central bankers in Italy. She went on to

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Speaker 1: urge considerations of more ambitious options to use frozen h

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Speaker 1: assets to help Ukraine. Taiwan's new Technology minister was saying

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Speaker 1: today smart machines connected to the Internet. This would include

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Speaker 1: chip making equipment can be remotely shut off in the

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Speaker 1: event of a conflict on the island. These remarks from

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Speaker 1: wucheng Wen confirm a Bloomberg report from earlier in the week.

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Speaker 1: It was on Thursday that China escalated military exercises around Taiwan,

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Speaker 1: the island considered by Beijing as part of China. The

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Speaker 1: exercises coming just two days after Taiwan's new president was inaugurated. Now,

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Speaker 1: as we know, recent tension in the Taiwan Strait has

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Speaker 1: raised concern about the implications for the global economy. Those

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Speaker 1: concerns largely center around TSMC, the semiconductor foundry producing some

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Speaker 1: of the world's most essential chips. TSMC manufactures ninety nine

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Speaker 1: percent of the world's AI accelerators. Elon Musk has initiated

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Speaker 1: talks about selling existing shares in SpaceX. The company could

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Speaker 1: do so at a price that would value the closely

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Speaker 1: held company at roughly two hundred billion dollars. We have

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Speaker 1: more from Bloomberg's Charlie Pellett.

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Speaker 3: Sources tell Bloomberg SpaceX is discussing a tender offer that

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Speaker 3: may kick off in June. The price for the offer

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Speaker 3: has not been decided, but sources say SpaceX is weighing

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Speaker 3: offering shares at one hundred eight to one hundred ten

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Speaker 3: dollars a piece, a two hundred billion dollar valuation. Would

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Speaker 3: be a premium to the one hundred eighty billion valuation

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Speaker 3: the company obtained through its most recent tender offer in

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Speaker 3: New York, Charlie Pellet Bloomberg Radio.

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Speaker 1: The White House has responded to Senate Republicans who blocked

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Speaker 1: a bipartisan border security bill. We have more from Bloomberg's

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Speaker 1: Amy Morris in Washington.

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Speaker 4: In a written statement, President Biden said, if Republicans cared

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Speaker 4: about securing the border, they would have voted for the

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Speaker 4: bill Senate majority leader Chuck Schumer.

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Speaker 1: After the vote, I understand that bill was not going

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Speaker 1: to win every Democratic vote or every single Republican vote.

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Speaker 1: That's what bipartisanship is. It's a compromise.

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Speaker 4: Six Democrats joined Republicans in blocking the measure, including California

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Speaker 4: Senator Alex Padia.

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Speaker 5: It includes arbitrary board enclosures and could practically eliminate the

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Speaker 5: right to seek asylum for people fleeing for their safety.

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Speaker 4: And even if it had passed, the Senate, Republican leaders

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Speaker 4: have made it clear the bill would have been dead

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Speaker 4: on arrival in the House. In Washington, Amy Morris, Bloomberg Radio.

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Speaker 1: Initial applications for US unemployment benefits fell last week. First time,

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Speaker 1: jobless claims were down by eight thousand to a seasonally

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Speaker 1: adjusted two hundred and fifteen thousand. This follows a similar

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Speaker 1: drop in the prior period, and it marks the largest

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Speaker 1: back to back decline since September. Here's Bloomberg's Michael McKee.

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Speaker 5: When you talk to FED officials, and oddly enough, I've

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Speaker 5: been doing that for the last three days, They're not

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Speaker 5: particularly worried about the labor market right now. What they're

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Speaker 5: watching is inflation. So as long as these numbers stay contained,

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Speaker 5: the Fed's going to be happy. But it does show

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Speaker 5: that the economy is still strong enough to keep the

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Speaker 5: labor market in place, and that means they're not in

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Speaker 5: any hurry to cut rates.

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Speaker 1: That's Bloomberg's Michael McKee continuing claims. Meantime, a proxy for

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Speaker 1: the number of people receiving on IT employment benefits were

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Speaker 1: a little changed at one point seventy nine million in

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Speaker 1: the prior week. British Prime Minister Rishi Sunak has called

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Speaker 1: for a surprise general election on July fourth. This sets

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Speaker 1: up a six week battle to try to stop Keir

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Speaker 1: Starmer's opposition Labor Party from taking power. Sunac center right

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Speaker 1: party has seen its support dwindle steadily, and it has

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Speaker 1: struggled to overcome a series of crises. They include an

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Speaker 1: economic slump, ethics scandals, and a revolving door of leaders

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Speaker 1: in the past two years. Here's Bloomberg's Rosalind matheson, So

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Speaker 1: why now.

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Speaker 6: It's possible that he was worry things would not get

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Speaker 6: particularly better, that he thought this is going to be

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Speaker 6: the best moment to do this. It's possible also that

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Speaker 6: he thinks that he can campaign not just on the

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Speaker 6: economy but on migration, because he's been pushing a policies

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Speaker 6: we know that would send asylum seekers unsuccessful asylum zikis

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Speaker 6: to Rwanda and he's hoping that the first flights will

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Speaker 6: leave by early July, can campaign more on the migration front.

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Speaker 1: That's Bloomberg's Rosalind Matheson. The center left Labor Party is

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Speaker 1: strongly favored in the election. Labour's Keir Starmer is vowing

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Speaker 1: his party would bring stability to the UK if elected.

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Speaker 1: And that is news when you want it with Bloomberg News. Now,

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Speaker 1: I'm Doug Prisoner and this is Bloomberg