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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: News when you want it with Bloomberg News Now, I'm

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Speaker 2: Brian Curtis. In Hong Kong. Former President Trump backed Ohio

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Speaker 2: businessman Bernie Moreno has won the state's Republican US Senate primary.

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Speaker 2: That's according to the Associated Press. Moreno won with fifty

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Speaker 2: one percent of the vote, beating Matt Dolan with just

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Speaker 2: under thirty three percent. In Ohio District nine, Republican Derek

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Speaker 2: Maron beat Craig Rydell with fifty two point five percent

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Speaker 2: of the vote. The AP is reporting that former President

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Speaker 2: Donald Trump has won Republican primaries in Florida, Illinois, Kansas,

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Speaker 2: and Ohio. President Biden has done the same, except for

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Speaker 2: in Florida. Democrats in Florida opted to cancel their primary

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Speaker 2: and award all of their delegates to President Biden. Meantime,

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Speaker 2: the Biden administration suffers a defeat on immigration enforcement. In

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Speaker 2: tech details from Bloomberg's Dan Schwartzmann, the U. S.

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Speaker 3: Supreme Court refused to block a Texas law that makes

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Speaker 3: it a state crime to illegally enter or re enter

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Speaker 3: the US through the state. The measure allows for state

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Speaker 3: judges to order some undocumented immigrants to leave the country.

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Speaker 3: The Biden administration had argued that the federal government has

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Speaker 3: the exclusive authority to enforce the country's immigration laws. Justices

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Speaker 3: Amy Coney Barrett and Breck Kavadah left open the possibility

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Speaker 3: the administration could renew its request, saying in a concurring

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Speaker 3: opinion that the Supreme Court's intervention in the matter would

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Speaker 3: be premature as the Fifth US Court of Appeals had

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Speaker 3: not formally acted yet on a stay application filed by Texas.

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Speaker 3: A trial judge had earlier ruled against the state. Dan

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Speaker 3: Schwarzman Bloomberg Radio.

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Speaker 2: Congressional leaders and the White House have made a handshake

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Speaker 2: deal to fund the US government through the end of September.

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Speaker 2: Congressional aids still need to finish writing the text of

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Speaker 2: the bill. A short shutdown over the weekend is still

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Speaker 2: possible as Congress prepares to vote on the legends. Bloomberg

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Speaker 2: Used managing editor Derek Wallbank says the days of using

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Speaker 2: government funding as a political tool may be over.

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Speaker 4: There's certainly no appetite among congressional leaders of any party

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Speaker 4: for a shutdown. I think Republicans realize that previous shutdowns

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Speaker 4: in the last decade plus have not gone well for them,

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Speaker 4: particularly because I'm not sure that they see a path

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Speaker 4: between this and extracting anything that some on the right

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Speaker 4: side of their conference think that they can get out

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Speaker 4: of it. So the idea is basically, why go into

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Speaker 4: a shutdown if you don't know how you're going to win,

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Speaker 4: if you don't know what you're going to be able

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Speaker 4: to get out of it, And there's not really a

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Speaker 4: clear sense that they could get anything out of it.

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Speaker 2: Bloomberg's Derek Wallbank President Biden will reportedly announce a multi

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Speaker 2: billion dollar funding award to Intel tomorrow. The New York

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Speaker 2: Times says the funds will be granted for Intel to

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Speaker 2: expand chip production in the US. The funds are part

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Speaker 2: of the thirty nine billion dollar Chips and Science Act.

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Speaker 2: It's about jobs and staying head of China on semiconductor production.

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Speaker 2: Chinese banks held their lending rates steady this morning. It

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Speaker 2: was in line with most of the twenty two economists surveyed.

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Speaker 2: The one year loan prime rate was held at three

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Speaker 2: point four to five percent, the five year rate held

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Speaker 2: at three point nine five percent. In other news, new

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Speaker 2: US home construction bounced back sharply last month from weather

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Speaker 2: related weakness at the start of the year. Details from

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Speaker 2: Bloomberg's Michael McKee.

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Speaker 1: We were expecting a rebound in housing starts and we

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Speaker 1: definitely got one. Weather improves in February, and so do

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Speaker 1: the number of holes in the crown ten point seven

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Speaker 1: percent increase to a one million, five hundred and twenty

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Speaker 1: one thousand annual rate for housing starts. Building permits also

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Speaker 1: up significantly one point nine percent to one million, five

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Speaker 1: hundred and eighteen thousand. That's from a decline of three

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Speaker 1: tenths the prior month, So it looks like home builders

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Speaker 1: are gearing up for the spring selling season.

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Speaker 2: In other news, Hong Kong has passed the new domestic

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Speaker 2: Security law. The law poot's the former British colony more

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Speaker 2: in line with mainland China when it comes to offenses

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Speaker 2: like treason, insurrection and espionage. Bloomberg China ecogov editor Alan

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Speaker 2: Wong is in Hong Kong and says this law was

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Speaker 2: put on a fast track.

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Speaker 5: It passed in just eleven days, which makes it the

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Speaker 5: fastest draft law ever passed in Hong Kong since nineteen

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Speaker 5: ninety seven, the year that they returned to Chinese rule.

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Speaker 5: It was the result of almost daily debate by the

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Speaker 5: city's lawmakers, which are all probaging now after the National

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Speaker 5: Security Law imposed by Beijing effectively forced out all pro

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Speaker 5: democracy lawmakers.

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Speaker 2: Bloomberg's Alan Wong. Critics are concerned the new law will

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Speaker 2: muzzle open discussion and tighten control on foreign businesses. That's

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Speaker 2: news when you want it with Bloomberg News Now. I'm

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Speaker 2: Brian Curtis. This is Bloomberg