Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Good morning.
Speaker 2: I'm Nathan Hager and I'm John Tucker. Here are these
Speaker 2: stories we're following today.
Speaker 1: John, we begin with the latest on the war in Israel.
Speaker 1: President Biden is warning he will stop additional shipments of
Speaker 1: offensive weapons to Israel if the country goes ahead with
Speaker 1: the ground invasion of Rafa in southern Gaza. In an
Speaker 1: interview with CNN, Biden highlighted the potential loss of civilian
Speaker 1: life if Israel goes into the densely packed city.
Speaker 3: If they're going to Rafa, I'm not supplying the weapons
Speaker 3: that have been used historically to deal with Rafa, to
Speaker 3: deal with the cities, to deal with that problem. We're
Speaker 3: going to continue to make sure because you're less secure
Speaker 3: in terms of Iron Dome and their ability to respond
Speaker 3: to attacks like came out of you the least recently.
Speaker 3: But it's just wrong.
Speaker 2: President Biden's comments on CNN, coming after the US pause
Speaker 2: delivery of about thirty five hundred bombs to Israel by
Speaker 2: the decision meanwhile being criticized in both Israel as well
Speaker 2: as Republican members of Congress. Kentucky Republican Andy Barr joined
Speaker 2: Bloomberg Balance of Power and said this is unacceptable.
Speaker 4: This is an affront to the relationship between our two countries.
Speaker 4: The fact that this administration is rejecting an Act of
Speaker 4: Congress and turning its back on our key ally in
Speaker 4: the Middle East is obnoxious.
Speaker 2: Republican Congressman Andy Barr of Kentucky. On the other side
Speaker 2: of the Isisle, Georgia, Democrat Rafael Warnock also joined Bloomberg
Speaker 2: Balance of Power, and the Senator said, we need to
Speaker 2: do what it takes to end this conflict.
Speaker 5: But I'm also very concerned about over thirty thousand Palestinian
Speaker 5: lives that have been lost in this conflict, the majority
Speaker 5: of them being women and children. So I'm hopeful that
Speaker 5: at the end of the day, we will recognize that
Speaker 5: the answer to death and the stry production is not
Speaker 5: more death in destruction.
Speaker 2: Democratic Senator Rafael Warnick Canada that Congress will be keeping
Speaker 2: a close eye in the situation to hear the full
Speaker 2: conversation with both Senator Warnock and Congress and Bar. Get
Speaker 2: the Bloomberg Balance a Power podcast available wherever you get
Speaker 2: your podcasts.
Speaker 1: And staying in Washington. Democrats have helped halt a move
Speaker 1: by hardline Republicans in Congress to oust the speaker, Bloomberg said,
Speaker 1: Baxter has that story.
Speaker 6: Marjorie Taylor Green did keep her promise to try and
Speaker 6: bring it to the floor, but was defeated overwhelmingly three
Speaker 6: hundred and fifty nine to forty three. Johnson responds back
Speaker 6: to the real business at hand.
Speaker 7: They made their voices heard on the motion of vacate matter,
Speaker 7: and now we have very important work to do for.
Speaker 6: The country, and says he hopes the tenor of the
Speaker 6: Chamber will now change.
Speaker 7: Hopefully this is the end of the personality politics and
Speaker 7: the frivolous character assassination that has defined one hundred and
Speaker 7: eighteenth Congress.
Speaker 6: It does leave Green on a political island. Only eleven
Speaker 6: members from her party stood with her at Baxter Bloomberg Radio.
Speaker 2: Thanks said, and to the markets now. Stocks edged lower
Speaker 2: before the jobless claims us out at eight thirty Wall
Speaker 2: Street time. It comes with earning season winding down and
Speaker 2: investors are waiting fresh data on a potential timing for
Speaker 2: lower interest rates. Traders have digested Fed speak this week
Speaker 2: on the potential path for rates, including yesterday that's when
Speaker 2: Boston Fed President Susan Collins spoke at MIT.
Speaker 8: I do remain optimistic that this can be accomplished in
Speaker 8: a reasonable amount of time and with a labor market
Speaker 8: that remains healthy. But there's a significant amount of uncertainty
Speaker 8: around that outlook, and the recent data lead me to
Speaker 8: believe that it's just going to take longer than previously thought.
Speaker 2: Boston Fed President Susan Collins says the Fed remains focused
Speaker 2: on bringing inflation back to its two percent target.
Speaker 1: And those comments from Susan Collins john come ahead of
Speaker 1: consumer price data coming next week and following the smallest
Speaker 1: gain in six months for non farm payrolls last week.
Speaker 1: Richard Clarina, former Vice chair of the FED and current
Speaker 1: Global Economic advisor at PIMCO, says he still expects the
Speaker 1: Fed to be patient and remain data dependent.
Speaker 9: Since the beginning of the year, the inflation numbers have
Speaker 9: been going in the wrong direction, and also especially I
Speaker 9: think what's relevant here is an element of risk management,
Speaker 9: so I think there is path dependence. The fact that
Speaker 9: the last three years inflation has been well above target.
Speaker 9: I think it makes it a harder call to cut preemptively.
Speaker 1: Richard clarieda of PIMCO says if he were still fed
Speaker 1: Vice chair he would not consider cutting rates right now.
Speaker 2: And meanwhile in Europe, markets are points for a stronger
Speaker 2: signal on when the Bank of England will cut interust rates.
Speaker 2: With the Bank of England decision coming today. In Bloomberg's Ewon,
Speaker 2: Potts joins us from London with the latest here on
Speaker 2: good Morning.
Speaker 10: Good morning John and Nathan. Inflation and growth forecast will
Speaker 10: be key for the Bank of England today. The old
Speaker 10: Lady of fred Neil Street almost certain to leave UK
Speaker 10: rates on hold at five and a quarter percent, a
Speaker 10: sixteen year high, but keeping out for changes in the
Speaker 10: vote balance on the committee. Will the Dove find new
Speaker 10: recruits for a right cut this month? A market will
Speaker 10: also be Kaylee watching the governor's press conference for hints
Speaker 10: on when the baby might finally start cutting in London,
Speaker 10: I'm Unepotsplinberg Radio.
Speaker 1: Okay you and thank you. Heading to Asia now in
Speaker 1: a focus on Tesla, sources tell Bloomberg News the electric
Speaker 1: vehicle giant is ramping up job cuts in China as
Speaker 1: sales slow. The layoffs reportedly affect a range of departments,
Speaker 1: including customer service, engineering, production line, and the logistics team.
Speaker 1: At Tesla's Shanghai plant.
Speaker 2: Elsewhere in Tact Bloomberg's reporting on the huge dilemma to Apple,
Speaker 2: Who's going to succeed CEO Tim Cook? Bloomberg Chief Apple
Speaker 2: correspondent Mark germatt As examined Cook's tenure and who could
Speaker 2: follow him to lead the multi trillion dollar company. Grimman says,
Speaker 2: they're a number of candidates who could fill that role
Speaker 2: if Tim.
Speaker 11: Cook would have stepped down in the very near future.
Speaker 11: Look no further than Jeff Williams. He's Apple's chief operating officer.
Speaker 11: That was the same role that Tim Cook held for
Speaker 11: many years under Steve Jobs. The other part of it
Speaker 11: is that he's only two years younger than Look, that's
Speaker 11: a problem that leaves us with someone else. That's John Turnas,
Speaker 11: the senior VP of hardware Engineering.
Speaker 2: Bloomberg's Mark Germit says he strongly believes this the session
Speaker 2: will happen internally and believes John Turnis is emerging as
Speaker 2: Tim Cook's most likely successor.
Speaker 1: And Elsewhere in company news, John shares in chip designer
Speaker 1: ARM tumbled after a lukewarm forecast. Revenue for fiscal twenty
Speaker 1: five is expected to be just shyve Analyst estimates of
Speaker 1: four billion dollars. Kuon John Sabani of Bloomberg Intelligence says
Speaker 1: it reflects a sector wide slowdown.
Speaker 12: The driver for the mislike miss in the fiscal ear
Speaker 12: guidance was coming really from two major areas. One is
Speaker 12: networking and the other is the industrial IoT, which most
Speaker 12: of the semiconductor companies exposed to this rcing weakness here,
Speaker 12: So that's not companies specific, it's just that end market
Speaker 12: is going through a cyclical bottom.
Speaker 1: That's Bloomberg Semiconductor analyst kun John Sabani, he says. Armed
Speaker 1: CEO renee Has says the company remains very confident in
Speaker 1: its long term growth.
Speaker 12: Yew.
Speaker 2: That brings us to five o eight. We'll so you've
Speaker 2: tend that for a look at some of the other
Speaker 2: stories making news in New York and around the world.
Speaker 2: In for that, we're joined by Bloomberg's Michael Barr Michael,
Speaker 2: good morning.
Speaker 13: Good morning John. Stormy Daniels will return to the witness
Speaker 13: stand today in Donald Trump's criminal hush money trial. The
Speaker 13: defense will try to undermine the credibility of the porn
Speaker 13: actor's graphic testimony about an alleged sexual encounter and the
Speaker 13: money she got to keep quiet. Daniel's account is central
Speaker 13: to the prosecutor's case accusing Trump of scheming to illegally
Speaker 13: influence the twenty sixteen presidential campaign by burying unflattering stories.
Speaker 13: Trump denies they ever had sex. Tennessee has taken the
Speaker 13: brunt of severe storms that spawned tornadoes over the last
Speaker 13: two days. The storm det rumbled across northeastern Tennessee, knocked
Speaker 13: down power lines and trees, and took the lives of
Speaker 13: two people in the state. Spring Hill Mayor Jim Hennegeman
Speaker 13: says that the team was ready to step in and
Speaker 13: help neighboring towns in need.
Speaker 14: We committed a lot of resources to this event here,
Speaker 14: and I'm happy to say that it's just a wonderful
Speaker 14: thing to see all of the mutual way that came
Speaker 14: under one command, and everybody that could do everything right,
Speaker 14: they did it right. We're still working to remove a
Speaker 14: lot of debris that has occurred.
Speaker 13: Another person was killed by tornadoes in North Carolina. Four
Speaker 13: flight attendants are facing federal charges for allegedly smuggling drug
Speaker 13: money while carrying out their jobs. They allegedly used what
Speaker 13: are known as known crew member or KM privileges, allowing
Speaker 13: flank crews to bypass TSA security checks. They are accused
Speaker 13: of smuggling millions of dollars in drug money over many
Speaker 13: years to the Dominican Republic. All of the suspects are
Speaker 13: from New York. Delta Airlines confirms too of the flight
Speaker 13: attendants work for Delta and have been suspended. How subcommittee
Speaker 13: heard from the leaders of three large public school systems
Speaker 13: in the US, including New York City, wanting to know
Speaker 13: if they were doing anything about anti Semitism speech and threats.
Speaker 13: New York GOP Representative Elie Stephonic is a member of
Speaker 13: the committee.
Speaker 15: Now, I'll tell you the hearings are important because they
Speaker 15: do deliver accountability where it has been slow walked by
Speaker 15: either elected officials, like in the case of the mayor
Speaker 15: of DC, where it took the night before the hearing
Speaker 15: for them to clear out the Prohamas encampment at GW.
Speaker 13: Congresswoman Stephanic says, there are going to continue to be
Speaker 13: hearings on this crisis. Global news twenty four hours a
Speaker 13: day and whenever you want it. With the Bloomberg News. Now,
Speaker 13: I'm Michael Barr, and this is Bloomberg John.
Speaker 2: Michael, thank you. We're going to sign out for the
Speaker 2: Bloomberg Sports Update.
Speaker 16: Dan for that.
Speaker 2: Good morning, John Stesharwer.
Speaker 17: Good morning John Tucker. May eight May eight, nineteen seventy.
Speaker 17: The late Willis Read shakes off an injury inspires the
Speaker 17: next to a playoff went at the Garden. Exactly fifty
Speaker 17: four years later, Jalen Brunson does the same thing. Hurtis
Speaker 17: Foyt late first quartered In played all in the second.
Speaker 17: Nicks trailed the Pacers by twelve early in the third,
Speaker 17: but Brunson return Nick's rally.
Speaker 13: They once again.
Speaker 17: Pulled out a victory with big hoops in the final minute.
Speaker 6: Bob pass for.
Speaker 1: Hart left side, drives on hallipurts right wait.
Speaker 2: Devincenzo ns up nine. The next fleet by nine.
Speaker 1: Brunson one on one with Nemark crosses over a couple
Speaker 1: of times. Spence in the paint floats up next.
Speaker 17: Week by eight w APN Knicks beat Indiana one thirty
Speaker 17: one twenty one, lead the series two nothing. Brunson scored
Speaker 17: twenty nine points. Dante DiVincenzo with that big three he
Speaker 17: had twenty eight, and so did O Gananobi. He was
Speaker 17: having his best game ever until he went down with
Speaker 17: a hamstring injury third quarter. Also from the NBA Denvers,
Speaker 17: Nikola Jokis named MVP third time the last four years.
Speaker 17: Stanley Cup Playoffs. After Boston won Game one five to one,
Speaker 17: Florida took Game two six to one. Vancouver came from
Speaker 17: four to one down beat Edmonton five to four in
Speaker 17: the series open A Rangers look to stay unbeaten in
Speaker 17: the postseason. Tonight, it's Game three at Carolina, fifth straight
Speaker 17: win for the Yankees at the Stadium won Solo got
Speaker 17: him go on two run homer first inning, his ninth
Speaker 17: of the year. Two innings later, both Aaron Judge and
Speaker 17: Giant Carlos Stanton with their eighth home runs. Yanks beat
Speaker 17: the struggling Astros nine to four. Mets reigned out in
Speaker 17: Saint Louis. Chris Sale beat his old team, pitched Atlanta
Speaker 17: to a five nothing win over the Red Slaps. Marcello
Speaker 17: zunohomer twice. Beltway Series in DC, the Nationals tied the
Speaker 17: Orioles with two runs and the ninth and eleventh innings
Speaker 17: got one. In the twelfth of Baltimore won seven six
Speaker 17: Shoe Alatani's former interpreter, Ife Musahara, has agreed to plead
Speaker 17: guilty to felony, bank and tax fraud charges. John Stashedward
Speaker 17: Bloomberg Sports.
Speaker 6: John and Nick.
Speaker 13: Coast to Coast on Bloomberg Radio, nationwide on Sirius XM,
Speaker 13: and around the world on Bloomberg dot Com and the
Speaker 13: Bloomberg Business app. This is Bloomberg Daybreak.
Speaker 1: Good morning. I'm Nathan Hager. Israel is facing even more
Speaker 1: pressure in public and in private as it considers a
Speaker 1: full scale attack against Hamas in the southern Gaza city
Speaker 1: of Rafa. The US is already delayed one weapons shipment
Speaker 1: to try to stop Israel. Now President Biden is warning
Speaker 1: even more deliveries could be put on hold unless Israel
Speaker 1: does more to protect civilians and joining US Now for
Speaker 1: more from Dubai is Bloomberg Middle East Anchored Jumana Burseetschi Jamana.
Speaker 1: Good morning. So what is the latest that the president
Speaker 1: is saying? How is it being received in the Middle East?
Speaker 16: Yeah, so significant development overnight. I think it's worth emphasizing
Speaker 16: here that this is the first halt in military shipments
Speaker 16: we've seen out of the US to Israel since the
Speaker 16: October seventh attack, and so from that perspective, it is
Speaker 16: really quite significant and does pose a bit of a
Speaker 16: questions about the nature of their leadship right now between
Speaker 16: US and Israel. Yesterday it emerged that they had decided
Speaker 16: to hold the shipment of about three five hundred bombs
Speaker 16: to Israel in anticipation of this assault on Napha. Of course,
Speaker 16: yesterday Israel did take over that key border crossing on
Speaker 16: the border with Egypt that is a key pathway for
Speaker 16: the passage of humanitarian aid into the Gaza Strip. And
Speaker 16: the major concern from the US perspective is the mounting
Speaker 16: number of civilian casualties in addition to a growing humanitarian crisis.
Speaker 16: About one point five million people still live in fact,
Speaker 16: one point one million are estimated to be in a
Speaker 16: category five of hunger, which in other words is means
Speaker 16: a're very close to acute famine situation. So many people
Speaker 16: around the world, they're getting very concerned about the humanitarian
Speaker 16: crisis that could be looming.
Speaker 6: But for now, what.
Speaker 16: We see is there has been a limited assault so
Speaker 16: far from Israel. They have not gone for that full
Speaker 16: blown ground offensive that had been talked about the last
Speaker 16: couple of months, and clearly the US are trying to
Speaker 16: put some pressure on them now to scale back and
Speaker 16: to hold back the background. Of course, Nathan is on
Speaker 16: the sidelines in Cairo this week. There are some top
Speaker 16: level discussions taking place between in cut Our, Egypt, and
Speaker 16: of course representatives from the US, Israel, and Hamas to
Speaker 16: find some sort of an agreement on a true scale.
Speaker 13: Yeah.
Speaker 1: So it speaks to the difficult balance that the US
Speaker 1: is trying to strike here, trying to show that its
Speaker 1: support for Israel, as it said, remains iron clad, well,
Speaker 1: trying to keep these hostage negotiations and ceasefire negotiations continuing.
Speaker 1: What is the balance that the US is trying to
Speaker 1: strike and how is it being received in Israel right now?
Speaker 16: Exactly? So that is the key question here, because I
Speaker 16: think it is also worth emphasizing that in that interview
Speaker 16: that President Biden gave yesterday to CNN, he also said
Speaker 16: we are not walking away from Israel's security, We are
Speaker 16: walking away from Israel's ability to wage war in those
Speaker 16: areas specifically those areas. Also again worth reminding people that
Speaker 16: this is a pause in these shipments, the specific shipments
Speaker 16: that I mentioned, those three five hundred bombs. But you
Speaker 16: may recall that not so long ago, the US did
Speaker 16: pass a Buil that allowed for a package of a
Speaker 16: to be delivered to Israel that include further military assistance
Speaker 16: and economic assistance that will remain untouched. So that is
Speaker 16: still going ahead. As far as the Israeli response, we
Speaker 16: haven't got an official response out of the Nataniahu office,
Speaker 16: but very outspoken members of the cabinet, more hawkish members.
Speaker 16: The National Defense Minister Ben Gavier put up a tweet
Speaker 16: saying Hammas love Biden. Very strong statement from his side.
Speaker 16: Many have expressed this pleasure with the US decision and
Speaker 16: have said that US needs to be focusing on Hamas
Speaker 16: and restraining Hamas rather than Israel at this point.
Speaker 1: This is Bloomberg day Break Today, your morning brief on
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