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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning, I'm Nathan Hager and I'm John Tucker. Here

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Speaker 2: are the stories we're following today.

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Speaker 3: John, First, major developments this morning involving the war in

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Speaker 3: the Middle East. The US has paused a shipment of

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Speaker 3: bombs to Israel over worries that Israel's nearing a decision

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Speaker 3: to launch a wide ranging military offensive on the southern

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Speaker 3: Gaza city of Rafa. We get the details from Bloomberg's

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Speaker 3: Mark Champion.

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Speaker 4: It's very significant in the sense that the US has

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Speaker 4: said that it would be behind Israel all the way

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Speaker 4: after the attack on October seventh by Imus, and this

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Speaker 4: is the first time where we've seen them use the

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Speaker 4: leverage that the US has as an arms supplier to

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Speaker 4: try and pressure the Israelis to alter their course in Gaza.

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Speaker 3: Bloomberg's Mark Champion says Biden administration officials concerned about the

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Speaker 3: damage the bombs could inflict on dense urban settings like Rafa,

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Speaker 3: where more than one million displaced Palestinians are sheltering.

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Speaker 2: And we want to update you on the latest legal

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Speaker 2: cases against Donald Trump. The hush money trial against the

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Speaker 2: former president resumes of new York Tomorrow. Yesterday, one of

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Speaker 2: the prosecution's key witnesses, the adult film actors Stormy Daniels,

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Speaker 2: took the witness stand scathalitis from Bloomberg Law host June Grosso.

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Speaker 5: In New York.

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Speaker 6: After hearing Stormy Daniel's name countless times. Yesterday, the jurors

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Speaker 6: got a chance to hear her testify about a sexual

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Speaker 6: encounter the adult film actress says she had with Trump

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Speaker 6: in two thousand and six, although Trump denies it. Daniel's

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Speaker 6: account often included graphic and salacious details, so much so

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Speaker 6: that the defense asked for a mistrial, arguing that her

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Speaker 6: testimony had gone too far and prejudiced the jury. The

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Speaker 6: judge denied the mistrial in New York, June Grosso Bloomberg Radio, all.

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Speaker 7: Right, June, thank you.

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Speaker 3: Meanwhile, the federal judge in Florida for presiding over former

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Speaker 3: President Donald Trump's classified documents case has cancer the May

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Speaker 3: twentieth trial date, postponing it indefinitely. US District Judge Alien Cannon,

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Speaker 3: who is appointed by the former president, has come under

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Speaker 3: intense criticism for failing to make timely decisions and for

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Speaker 3: issuing rulings that favor Trump.

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Speaker 2: And sticking with the legal news, a long fight may

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Speaker 2: be in store over the future of TikTok, the video

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Speaker 2: sharing app, suing over the new law aimed at forcing

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Speaker 2: its Chinese owner, Byte Dance to sell it. TikTok says

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Speaker 2: the law would stifle users free speech, but former Treasury

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Speaker 2: Secretary Steve Manushan says he still wants to buy TikTok.

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Speaker 2: He thinks he can replicate the app's secret sauce it's

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Speaker 2: video recommendation technology.

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Speaker 8: I do believe the algorithms could be rebuilt, So my

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Speaker 8: plan if we were to purchase it would be to

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Speaker 8: rebuild the technology under US leadership, make sure that it's

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Speaker 8: all disconnected from by Dance going forward, and that it

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Speaker 8: is very ro Boston secure.

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Speaker 2: Former Transferry Secretary Steve Manushan spoke with Bloomberg for the

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Speaker 2: Milken Conference of Beverly Hills of the TikTok loss ay

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Speaker 2: the current algorithm could put Chinese government propaganda on users feeds.

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Speaker 2: Both TikTok and Beijing deny that.

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Speaker 3: And sticking with technology John, The US is said to

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Speaker 3: have provoked licenses allowing Qualcom and Intel to sell semiconductors

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Speaker 3: to China's Huawei Technologies Bloomberg. Steve Potis has more from Washington.

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Speaker 1: Sources say the move effects sales of chips for Huawei's

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Speaker 1: phones and laptops. The move is key to preventing China

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Speaker 1: from developing advanced AI. The US is also considering sanctions

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Speaker 1: against six Chinese firms that could also supply chips to Huawei. Meantime,

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Speaker 1: Saudi Arabia's investment fund for chips and AI said it

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Speaker 1: would divest from China if Washington asked it to do so.

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Speaker 1: In Washington, Steve Podisk Bloomberg Radio.

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Speaker 2: Ry Thanks Steve, and some positive news for Apple out

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Speaker 2: of China this morning. Chinese iPhone shipments jumped about twelve

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Speaker 2: percent in March after Apple and its retailers slashed prices.

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Speaker 2: That's about from a thirty seven percent slump in the

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Speaker 2: first two months of twenty twenty four. The stock is

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Speaker 2: up two thirds of a percent in early trading.

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Speaker 3: Well John Heading to space or not. The first crude

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Speaker 3: mission for Boeing's Starliner space capsule is going to be

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Speaker 3: grounded a little longer. The initial flight was scheduled two

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Speaker 3: days ago, it was scrapped for a technical issue. Now

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Speaker 3: it's been pushed back to at least May seventeenth, and.

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Speaker 2: Turning to the economy, the Minneapolis Fed President Neilkush Curry

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Speaker 2: says interest rates are likely to be camp where they

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Speaker 2: are for an extended period of time. Coush Curry says

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Speaker 2: more data is needed to know whether the progress on

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Speaker 2: getting inflation back to the two percent target has stalled.

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Speaker 8: The second half of twenty twenty three surprised us at

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Speaker 8: how rapidly inflation fell. That was really good news, and

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Speaker 8: the economy remained strong. We all hoped that was going

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Speaker 8: to continue. The first quarter of this year, it seems

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Speaker 8: like it's stalled out.

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Speaker 2: Gush Curry added that a rate cut this year is

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Speaker 2: quote certainly still a possibility. He made the comments to

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Speaker 2: Bloomberg at the Milkin Institute Global Conference in Beverly Hills.

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Speaker 3: Now, while investors in the US debate when the FED

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Speaker 3: cuts rates, John and other central banks already making a move.

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Speaker 3: Sweden's reeks Bank cut its benchmark rate for the first

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Speaker 3: time in eight years. The central Bank in Stockholm lowered

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Speaker 3: the policy rate by a quarter points to three point

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Speaker 3: seventy five percent, said it could be reduced twice more

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Speaker 3: in the second half of this year.

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Speaker 2: Add some good news this morning for customers of the

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Speaker 2: bankrupt crypto exchange FTX. They're said to get full recovery

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Speaker 2: of their funds. Let's get details from Bloomberg's Doug Krisner.

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Speaker 9: FTX has amassed billions of dollars more than it needs

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Speaker 9: to cover what customer's lost when the exchange collapsed in

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Speaker 9: November twenty twenty two. The extra cash will be used

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Speaker 9: to pay interest to more than two million FTX customers.

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Speaker 9: It's a rare outcome, since creditors typically receive just pennies

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Speaker 9: on the dollar in US bankruptcies. Once FTX finishes selling

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Speaker 9: all of its assets, the company will have as much

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Speaker 9: as sixteen point three billion dollars in cash to distribute.

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Speaker 9: The company owes customers and other non governmental creditors about

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Speaker 9: eleven billion dollars. Although all debts will be paid in

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Speaker 9: full plus interest, nothing will be left over for equity holders.

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Speaker 9: In New York Time, Doug Prisoner, Bloomberg Radio.

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Speaker 3: All right, Doug, thank you. And if you're a fan

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Speaker 3: of luxury watches, this story is for you. They're apparently

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Speaker 3: having a tough time holding their value at the moment.

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Speaker 3: The Bloomberg Subdial Watch index of the secondhand watch market

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Speaker 3: has dropped ten point two percent in the last twelve months.

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Speaker 3: Cartier was the only major brand two gain value in

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Speaker 3: the last year, up two point four percent. Watch demand

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Speaker 3: peaked during the pandemic in April twenty twenty two, but

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Speaker 3: values for the most in demand models have dropped sharply

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Speaker 3: with higher interest rates and declining cryptocurrency values.

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Speaker 2: Yes five oh seven of Well Street Time Now for

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Speaker 2: a look at some of the other stories making news

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Speaker 2: in New York and to round the world. And for

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Speaker 2: that we're joined by Bloomberg's Michael Barram Michael, Good morning.

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Speaker 5: Good morning John. Campus protests were cleared at the University

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Speaker 5: of Chicago. Officers broke up a pro Palestinian demonstration that

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Speaker 5: had occupied the campus's squad for the past nine days.

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Speaker 5: One of the protesters criticized the police action.

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Speaker 1: I think it's terrible.

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Speaker 6: I think it's discussing that we have militarized.

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Speaker 10: Police in an educational space to break up a peaceful protest.

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Speaker 5: Meanwhile, President Biden reiterated his stance against anti Semitic threats

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Speaker 5: and actions, particularly ones on college campuses. Pro Palestinian protesters

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Speaker 5: continued to demonstrate against the war in Gaza and the

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Speaker 5: financial support universities have been giving Israel. At a keynote

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Speaker 5: address at the US Holocaust Memorial Museum's annual Days of

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Speaker 5: Rememberance ceremony on Capitol Hill, the President says hate field

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Speaker 5: speech will not be tolerated.

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Speaker 2: While it's a tax destroying property, there's not peaceful protest.

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Speaker 9: It's against the law, and we're not a lawless country.

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Speaker 5: Most of the protests on college campuses have been peaceful,

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Speaker 5: but law enforcement have made hundreds of arrests. Storms have

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Speaker 5: battered parts of the Midwest, unleashing heavy rain, gusty winds,

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Speaker 5: and tornadoes in the region. Tuesday severe when their outbreak

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Speaker 5: came a day after a deadly twister ripped through a

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Speaker 5: small Oklahoma town and killed at least one person. Forecasters

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Speaker 5: warned that the storms could come out of the region

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Speaker 5: this morning. Far Right Representative Marjorie Taylor Green says the

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Speaker 5: ball is in House Speaker Mike Johnson's court after two

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Speaker 5: days of meetings between the pair over her push to

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Speaker 5: have him removed. Green says she wants the Speaker to

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Speaker 5: commit to several actions. They include no additional funding for

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Speaker 5: Ukraine and funding the Office of the Special Console what.

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Speaker 11: I'm trying to do is give Mike Johnson a chance

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Speaker 11: to be a Republican speaker, and he seems willing to

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Speaker 11: try to do that.

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Speaker 5: Speaker Johnson's old reporters he and Green are still talking

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Speaker 5: through ideas, but stressed this is not a negotiation and

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Speaker 5: that he will still continue to do his job. The

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Speaker 5: Manhattan District Attorney's Office says streamer Kai Senant will not

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Speaker 5: be prosecuted and charges will be dismissed for his role

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Speaker 5: in inciting a riot in Union Square last summer. Back

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Speaker 5: in August, the crowd of thousands packed Union Square for

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Speaker 5: Senat's Twitch giveaway that quickly got out of hand. Sanana

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Speaker 5: and two others paid about fifty seven thousand dollars in restitution.

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Speaker 5: Global News twenty four hours a day and whenever you

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Speaker 5: want it with the Bloomberg News. Now, I'm Michael Barr,

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Speaker 5: and this is Bloomberg.

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Speaker 7: John.

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Speaker 2: All right, Michael, thank you, and time down for a

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Speaker 2: Bloomberg Sports upday. Tan for that, Here's charn Stesshawer.

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Speaker 1: All right, John.

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Speaker 10: The Rangers in their first five playoff games hardly trail

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Speaker 10: different story. Game two at the Garden with Carolina, they

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Speaker 10: only led for four minutes of the first period, but

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Speaker 10: six minutes into the third Chris Crider with his forty

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Speaker 10: third career playoff goal, most in Rangers history, and the

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Speaker 10: game was tied to three for the next forty one minutes.

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Speaker 1: It finally ended in the second overtime. Prider, I had

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Speaker 1: to get back out for a shot at clocks. I've

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Speaker 1: had a chat towards Tonet knockdown, true.

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Speaker 10: Check scars.

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Speaker 1: His Stars.

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Speaker 11: That's at Tcheck wins Game two in double overtime, has

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Speaker 11: pop by his Ranger.

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Speaker 10: Teammates on WEP and Trocheck scored a goal for the

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Speaker 10: fifth straight game earlier two Ranger goals for alexis La

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Speaker 10: frontire fifty four says for Igor sister, and he was sensational.

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Speaker 10: Rangers yet to lose a playoff game head to Raleigh

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Speaker 10: of two games to note, also overtime in Dallas after

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Speaker 10: the Stars blew a three nothing League Colorado one that

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Speaker 10: was also four to three NBA easy series opening wins

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Speaker 10: to the two top seeded team Celtics by twenty five

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Speaker 10: over Cleveland, Oklahoma City by twenty two over Dallas Nixon Pacers.

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Speaker 10: Game two tonight at MSG and the already thin Knicks

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Speaker 10: bench just got thinner. Mitchell Robinson reinjured the left ankle

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Speaker 10: that caused him to miss fifty games in the regular season.

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Speaker 10: He won't play until next season. The Astros have been

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Speaker 10: dominant the last seven years. Not this year, Not so far.

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Speaker 10: Twelve and twenty Yankees beat Houston at the Stadium ten

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Speaker 10: to three. Alex Perdugo got him going three run homer

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Speaker 10: first enning off Justin Verlander, who gave up seven runs,

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Speaker 10: most he's ever allowed in thirty seven career Stars versus

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Speaker 10: the Yanks. Mets won seven to five in Saint Louis

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Speaker 10: to get back to five hundred. Brandon Nemo three run

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Speaker 10: homer in a six run fifty inning. Pete Alonzo, who

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Speaker 10: had been one for his last thirty two, had a

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Speaker 10: homer at two run double. Red Sox lost in Atlanta,

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Speaker 10: four to two. Beltway Series underway in DC Nationals. Shout

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Speaker 10: out the Oils three nothing. Redhot Phillies made it eighteen

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Speaker 10: of their last twenty one ten to one over Toronto.

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Speaker 10: John Stashan, We're Bloomberg Sport. Johnnan Naked.

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Speaker 7: Coast to Coast on Bloomberg Radio nationwide on Sirius XM

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Speaker 7: and around the world on Bloomberg dot Com and the

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Speaker 7: Bloomberg Business app. This is Bloomberg Daybreak. Good morning.

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Speaker 3: I'm Nathan Hager with Israel apparently poised for a full

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Speaker 3: scale attack on the southern Gaza city of Rafa. At

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Speaker 3: the US is trying to apply pressure to scale things back,

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Speaker 3: pausing a shipment of bombs. They could do heavy damage

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Speaker 3: to urban areas like Rafa.

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Speaker 1: For the latest.

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Speaker 3: We're joined now by Bloomberg's Derek Wallbank. Derek, good morning.

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Speaker 3: What does this pause potentially mean for Israel's war plans?

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Speaker 11: Nathan, It's good to be with you. As always. The

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Speaker 11: aim of this, we are told, according to a senior

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Speaker 11: Administration official, is that the US opposes potential military offensive

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Speaker 11: on Rafa. It's really, honestly, it's that simple. The US,

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Speaker 11: I think, is very concerned about what these weapons could

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Speaker 11: do in an urban area like that. You're talking about

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Speaker 11: a place where about one point four million Palestinians are sheltering. Obviously,

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Speaker 11: Israel has said that Rafa is a key place of

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Speaker 11: operations for Hamas, and talks to get to a ceasefire

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Speaker 11: or conclusion of hostilities in this conflict have not been conclusive.

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Speaker 11: Have with each side sort of trading blame as to

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Speaker 11: who's most responsible for that. There are also, i think

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Speaker 11: growing i would say, operational tensions between US President Joe

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Speaker 11: Biden and Israeli's Prime Minister, Israel's Prime Minister Benjamin not Yahoo. Right,

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Speaker 11: there's there's been this. Biden has been quite supportive of

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Speaker 11: Israel's right to protect itself, to have defensive operations, to

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Speaker 11: to try and reduce Hamasa's capacities in some ways, but

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Speaker 11: he has had real criticisms over the way that this

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Speaker 11: conflict has played out on the ground in Gaza. And

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Speaker 11: so you're seeing this right now come to a head.

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Speaker 11: Biden does not want to have direct line responsibility for

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Speaker 11: an operation that he opposes.

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Speaker 3: But even with this bombshipment on hold, this doesn't mean

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Speaker 3: that all weapons deliveries are all support from the US

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Speaker 3: to Israel is on hold, right, So I mean, what

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Speaker 3: could that mean for the possibility of an eventual Israeli

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Speaker 3: invasion of this city.

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Speaker 11: Well, that's exactly right, Nathan. And you know, the US

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Speaker 11: had included aid to Israel as part of its recent

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Speaker 11: national security supplemental for Ukraine and others. There had been

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Speaker 11: a desire, strong desire by the US, and I think

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Speaker 11: quite bipartisan to try and replenish Israel's self defense based weaponry.

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Speaker 11: It's iron dome, it's things of that nature. Is to

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Speaker 11: sort of stop inbound missile attacks that might come from

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Speaker 11: from Iran or Iran backed groups and things like that.

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Speaker 11: So that part is quite bipartisan. But as to say,

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Speaker 11: you are seeing, and I think you're seeing in part

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Speaker 11: in the protests that are taking place at college campuses,

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Speaker 11: but you are seeing I think broader than that within

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Speaker 11: some of the Democratic coalition, including people that Joe Biden

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Speaker 11: needs their votes this November aal a real disquiet or

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Speaker 11: much stronger over the idea that the US is sending

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Speaker 11: to Israel, potentially some of these weapons that might be

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Speaker 11: used in these in these attacks that Biden doesn't like.

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Speaker 11: And so if you're Joe Biden, you're sitting there saying, look,

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Speaker 11: you know, this isn't the way that I would want

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Speaker 11: you to prosecute this war. So do I want to enable.

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