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

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Speaker 2: Ukrainian President Vladimir Zelenski says he's grateful to US politicians

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Speaker 2: who've backed a massive foreign aid package for his country.

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Speaker 2: The sixty one billion dollar bill includes air defense missiles

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Speaker 2: and artillery shells, as well as seven billion dollars for

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Speaker 2: US military operations in the region. The legislation, passed by

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Speaker 2: the House over the weekend, will likely be signed into

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Speaker 2: law this week after a Senate vote in the coming days.

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Speaker 2: Speaking to NBC's Meet the Press, Zelenski said he believes

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Speaker 2: the aid package will prevent the war with Russia from expanding.

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Speaker 3: This aid will strengthen Ukraine. We did lose the initiative

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Speaker 3: there now to have all the chance to stabilize the

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Speaker 3: situation and to or take the initiative.

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Speaker 2: Zelenski's comment, spoken there by a translator, were echoed by

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Speaker 2: those of the UK Foreign Secretary David Cameron. Welcome to

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Speaker 2: the extra support for Ukraine, calling us a vital step forward.

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Speaker 1: The US House of Representatives also tied legislation requiring TikTok's owner,

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Speaker 1: Bike Dance to sell its stake in the social media

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Speaker 1: firm into that Ukraine aid bill. If the Chinese parent

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Speaker 1: company refuses to divest, its platform may be banned in

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Speaker 1: the US. Sources have told Bloomberg that Bike Dance intends

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Speaker 1: to fight the effort in court and exhaust all legal

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Speaker 1: challenges before it considers any kind of selloff. Meanwhile, the

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Speaker 1: TikTok executive who was tasked with placating US lawmakers concerns

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Speaker 1: about the social media platform, is reportedly leaving the company.

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Speaker 1: Bloomberg's Ed Baxter has the details.

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Speaker 4: The reports say that TikTok is letting him go, saying

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Speaker 4: he wasn't doing enough to stave off US security concerns

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Speaker 4: regarding its ties with Honor Bike Dance in China. Eric

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Speaker 4: Anderson's role had been incrementally reduced, but with a passage

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Speaker 4: of the devest bill passed by the House over the week,

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Speaker 4: and it looks now more imminent. A TikTok statement said

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Speaker 4: the reports were false, but then the publication the information

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Speaker 4: said Anderson has informed his legal team that he is

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Speaker 4: leaving and that it is his decision. Head Baxter Bloomberg.

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Speaker 2: Radio Tesla has once again slashed the price of its

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Speaker 2: vehicles as it looks to defend its market share from

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Speaker 2: rivals in China and elsewhere. The aggressive move comes at

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Speaker 2: a tough time for the automaker, with its share price

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Speaker 2: down around forty percent this year. Last week, the ev

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Speaker 2: Giant announced global job cuts of more than ten percent

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Speaker 2: under recall of its new cyber truck. Meanwhile, Bloomberg has

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Speaker 2: learned that a number of staff have been left unsettled

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Speaker 2: by CEO Elon Musk's sudden focus on a self driving

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Speaker 2: vehicle robotaxi. Bloomberg's Global business editor Peter Verko says the

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Speaker 2: change of direction is dizzying.

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Speaker 5: Even by Elon Musk's standards. It's been a pretty wild week.

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Speaker 5: I think what does want more than anything? Though He's

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Speaker 5: do just some clarity on the strategy. It was only

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Speaker 5: three months ago that on the earnings call, mask was

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Speaker 5: talking up progress on this twenty five thousand dollars mass

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Speaker 5: market car. Last week the whole thing seems to have

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Speaker 5: swung towards his autonomous self driving taxi or robotaxi.

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Speaker 2: Peter Verko's comments come as markets await Tesla's latest set

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Speaker 2: of results on Tuesday. The firm is expected to report

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Speaker 2: a forty percent plunge in operating profits and its first

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Speaker 2: revenue decline in four years.

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Speaker 1: ECB rate setter Frans wavinwood Gallo says that oil market

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Speaker 1: uncertainty won't dissuade the Central Bank from cutting rates in June.

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Speaker 1: His reasoning, even if conflict did push up oil costs,

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Speaker 1: policymakers would have to analyze whether those shots fueled underlying

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Speaker 1: prices and inflation expectations. The Bank of France governor also

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Speaker 1: made clear that policymakers shouldn't wait too long to lower

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Speaker 1: boring costs. A surprise. Markets curtly expect the ECB to

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Speaker 1: cut rates by zero point twenty five percent at its

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Speaker 1: next meeting on the sixth of June.

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Speaker 2: The Conservative MP Mark Menzies is quitting the party and

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Speaker 2: won't stand at the next election after being accused of misconduct.

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Speaker 2: The MP for if for filed in Lancashire reportedly telephoned

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Speaker 2: an elderly local activist at three am one morning asking

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Speaker 2: her to give him five thousand pounds Bloomber Exchanmes Wilcock

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Speaker 2: as more.

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Speaker 6: With Menzies, there are now sixty four Conservative MPs who

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Speaker 6: won't try and keep their seats in the next election.

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Speaker 6: That's eighteen percent of the party. The now x Tory

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Speaker 6: MP's exit spares the Prime Minister another by election and

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Speaker 6: more days of lurid headlines. Richie Sinak will be hoping

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Speaker 6: to rally his party around immigration with a vote on

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Speaker 6: his flagship Rwanda bill coming later today, but it doesn't

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Speaker 6: change the difficult narrative forming around the government around sleees

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Speaker 6: and electoral doom. In London, James Wilcock, Bloomberg Radio.

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Speaker 1: And Staying in the UK asking prices for homes here

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Speaker 1: are rising at their highest rate in a year. The

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Speaker 1: increase is largely being driven by figures at the top

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Speaker 1: end of the market. Bluebag's Tea ad Bayer has the details.

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Speaker 7: Buying a house in the UK will now cost you

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Speaker 7: just over three hundred and seventy two thousand pounds on average,

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Speaker 7: according to data from right Move. That's up one point

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Speaker 7: seven percent from last year and only five hundred and

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Speaker 7: seventy pounds below the all time record for UK home

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Speaker 7: prices seen in May twenty twenty three. The price gains

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Speaker 7: are being driven by larger four and five bed homes,

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Speaker 7: a corner of the market that has seen the strongest

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Speaker 7: start of the year, as the number of new sellers

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Speaker 7: rose eighteen percent from twenty twenty three, says the online salesportal,

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Speaker 7: But those looking to purchase their first homes are struggling

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Speaker 7: to keep up the highest interest rates in sixteen years,

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Speaker 7: combined with surging inflation, have drained consumer finances, factors which

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Speaker 7: i'd limit further house price growth. In twenty twenty four,

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Speaker 7: in London, tee you. We're at a Bayo Bloomberg Radio.

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Speaker 2: Those are your top stories on the markets. The MSCIO

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Speaker 2: specific index is up eight tenths of one percent, eurostocks,

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Speaker 2: fifty futures are three tenths of one percent higher, and

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Speaker 2: the ten yure treasury yield up three and a half

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Speaker 2: basis points to four point six six percent.

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Speaker 1: Now in a moment, we'll bring you more on the

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Speaker 1: US A bill now on a fast track to grant

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Speaker 1: aid to Ukraine, Israel and Gaza, plus force the Chinese

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Speaker 1: owners of TikTok to sell its steak or face a

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Speaker 1: ban in the United States. But before we get to that,

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Speaker 1: another story called our I this morning, how a craze

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Speaker 1: for bubble tea has created at least half a dozen

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Speaker 1: billionaires in China.

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Speaker 2: I feel like I have to preface by saying that

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Speaker 2: I don't get bubble tea, regular tea, fine bubble tea.

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Speaker 1: Now I'm afraid I have a hole in my wallet

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Speaker 1: due to bubble tea.

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Speaker 2: And what is this you are you buying for members

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Speaker 2: of your family?

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Speaker 1: For members of the family, I will put it that way.

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Speaker 1: The craze has hit London probably did about a couple

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Speaker 1: of years ago. Everywhere it's very expensive. Quite shagree, but yes,

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Speaker 1: I think this read on the Boomberg terminal though about

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Speaker 1: the money behind it is totally fascinating.

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Speaker 2: Yeah, and it comes ahead of the China's number three

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Speaker 2: bubble tea chain is listing in Hong Kong tomorrow Buy

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Speaker 2: to Buydow and it's expected to raise more than three

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Speaker 2: hundred million US dollars and it sort of speaks to

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Speaker 2: the craze around it. But what's interesting is is the

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Speaker 2: competition in the market in China is so fierce. And

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Speaker 2: what's distinguished this company is they charge less than their rivals.

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Speaker 2: They've managed to build market share grow their sales because

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Speaker 2: they're charging around two dollars for their half liter tea,

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Speaker 2: which is around half of what the industry standard was

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Speaker 2: when it comes to the prices they're charging in China.

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Speaker 2: But there's a question too. Of course, Chinese economy is slowing,

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Speaker 2: customers are reigning in their spending. Maybe this is something

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Speaker 2: that might actually impact this market as much as everything else.

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Speaker 2: Also comes at a very interesting time for IBOs in

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Speaker 2: Hong Kong as well. So there's a whole number of

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Speaker 2: strands to the story billionaires, bubble tea, stock market listings.

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Speaker 2: It's got a t all.

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Speaker 1: Yeah, absolutely, and it's in Bloomberg BusinessWeek of course, so

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Speaker 1: all the bees. Let's bring you that now, though, back

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Speaker 1: to our top story, shall we. The US Senate is

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Speaker 1: expected to approve more than ninety five billion dollars in

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Speaker 1: foreign aid, including funding for Ukraine, Israel, and Taiwan on Tuesday.

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Speaker 1: For Ukraine, the assistance is expected to reach the military

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Speaker 1: pretty swiftly, but it's also seen as unlikely to turn

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Speaker 1: the tide of the war on its own. Joining us

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Speaker 1: now to discuss is Bloomberg's EMEA news director Roslyn Matheson,

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Speaker 1: good morning. Was good to see you in person. The

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Speaker 1: aid package was long delayed. It'd been broken down into

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Speaker 1: pieces for it to be passed by the legislators. What

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Speaker 1: is actually part of this huge package.

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Speaker 8: Well, it's a whole lot of different stuff, that's part

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Speaker 8: of it. Really, most of it is to allow the

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Speaker 8: US to buy more weapons to send to these places,

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Speaker 8: particularly Ukraine, but also Israel, which has used a lot

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Speaker 8: of kit It's Iron Dome military defense system of late

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Speaker 8: defending against missile and other attacks on Israel. So it's

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Speaker 8: to allow them to replenish their stock. Some of it's

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Speaker 8: quite specific. It's in the case of Taiwan, to support

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Speaker 8: some development around submarines, for example. In Ukraine's case, it's

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Speaker 8: also about economic aid loans to Ukraine to help keep

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Speaker 8: literally the lights on for the government and the administration.

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Speaker 8: So it's a conglomertive stuff, as you say, broken down

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Speaker 8: into pieces to allow it to get through it or

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Speaker 8: come together again in one place to get to the Senate,

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Speaker 8: of course, where it will pass, as you say, likely

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Speaker 8: on Tuesday. But the idea is simply to really allow

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Speaker 8: the faster flow of weaponry into various places, most of

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Speaker 8: all Ukraine.

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Speaker 2: Will it be enough though, to make a difference to

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Speaker 2: Ukraine's fight against Russia.

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Speaker 8: Well, it sounds as though the US has been preparing

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Speaker 8: for this. So there is quite a lot of equipment

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Speaker 8: piled up near the border with Poland that can move

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Speaker 8: pretty quickly, but either way, we're still looking at least

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Speaker 8: a matter of wa for that to happen, and certainly

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Speaker 8: for some of the longer range missile stuff that they're

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Speaker 8: talking about as part of this bill, that's going to

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Speaker 8: take longer, and that's what Ukraine says it really needs.

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Speaker 8: And at this point, you know, any aid obviously is

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Speaker 8: better than none, but aid of this magnitude six months

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Speaker 8: ago probably would have been more beneficial on the battle

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Speaker 8: for Ukraine than coming now. And the question is, has

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Speaker 8: momentum really turned in favor of Russia. We can see

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Speaker 8: they're making gains on the ground, we can see the

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Speaker 8: progress there. Getting those weapons to the front line, including

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Speaker 8: things like artillery and ammunition, will take time, and is

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Speaker 8: it really too late to stem that tide. That is

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Speaker 8: the question, especially, you know, as they're gearing up for

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Speaker 8: fresh offensive. So while the aid is no doubt very

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Speaker 8: welcomed by Ukraine, you can see the comments from the government,

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Speaker 8: especially Presidents Lynski yesterday, he's also still a bit cautious,

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Speaker 8: like he knows momentum is against them and this aid

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Speaker 8: may not really do that much to change the equation

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Speaker 8: on the ground.

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Speaker 1: Also included in this bill, as you say, quite sprawling,

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Speaker 1: and it touches on many issues. The Iranian sanctions, US

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Speaker 1: sanctions against Iran, Will those make a difference to the

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Speaker 1: oil price?

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Speaker 8: Well, that's the thing. Actually last week we had a

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Speaker 8: Twitter space with some of our experts in house and

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Speaker 8: we debated Iran sections on quite an existential level, because

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Speaker 8: a bit like Russia and other parts of the world,

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Speaker 8: there's pretty much nothing in the Iran that's not sanctioned

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Speaker 8: at this point, and has that really deterred Iran? Not arguably,

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Speaker 8: because the main thing the US would need to do

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Speaker 8: is really seek to take around out of the global

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Speaker 8: oil market and stop it supplying oil anywhere, and an

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Speaker 8: election year with one eye inflation in the economy, it's

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Speaker 8: unlikely that the US administration is going to want to

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Speaker 8: do that. And so you're still allowing around to supply

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Speaker 8: the market different parts of the market with oil, and

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Speaker 8: that's important for Iran's economy and therefore for its war machinery.

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Speaker 8: So unless you actually change the supply dynamic, you're not

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Speaker 8: going to change Irun's behavior. And you can see the

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Speaker 8: high caution about anything that might cause actual proper disruption

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Speaker 8: to the aill market and so the aill price has

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Speaker 8: gone up a bit as we've seen some of these

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Speaker 8: strikes back and forth. You've seen a premium come into

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Speaker 8: oil on the idea of geopolitical risk, but so far

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Speaker 8: we've not seen any sign that supply will properly be

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Speaker 8: disrupted when it comes to a run.

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Speaker 2: Just a word on what this means in domestic US

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Speaker 2: politics as well, because the Speaker ignored demands to add

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Speaker 2: US border legislation into this package as well. What's the

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Speaker 2: dynamic around that and what does that mean for his position?

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Speaker 8: Well, his position is probably a little bit precarious as

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Speaker 8: a result. I mean, you have some members of his

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Speaker 8: party saying they're going to have a vote to oust him.

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Speaker 8: You know that's not going to happen immediately with the

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Speaker 8: House on recess, but he's obviously taken a call that

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Speaker 8: he wants to throw his lot in with the Hawks

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Speaker 8: and the Republican Party. So you've got two camps essentially

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Speaker 8: at this point. You've got the Hawks who say the

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Speaker 8: US needs to be out in the world militarily defend

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Speaker 8: standing up for what it believes, and you've got those

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Speaker 8: who are more isolationist foreign policies, saying the EU I

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Speaker 8: shouldn't be spending its time on other people's conflicts overseas.

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Speaker 8: So he's got some backing from the hawks in the

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Speaker 8: Republican camp. And most interestingly, he did meet with the

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Speaker 8: Republican nominee or the presumptive Republican nominee, Donald Trump a

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Speaker 8: couple of weeks ago. They had a meeting and a

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Speaker 8: long chat. We don't quite know what happened in that conversation,

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Speaker 8: but one would imagine that this came up, and possibly

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Speaker 8: if he thinks that he's managed to convince Donald Trump

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Speaker 8: and he's got his support, that may have been a

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Speaker 8: factor and his decision to move forward. And of course

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Speaker 8: Donald Trump is now very influential on what happens within

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Speaker 8: Congress itself when it comes to the Republicans.

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Speaker 1: Yeah. Absolutely, wells, thank you so much for your time.

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Speaker 1: Bluebag's EMEA news director Roslind Matheson.

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Speaker 2: We want to dig into another aspect of that aid package,

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Speaker 2: which is part of that legislation would force the Chinese

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Speaker 2: controlled bitdowns to divest itself from the social media app

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Speaker 2: TikTok or face a Ba.

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Speaker 4: In the US, Our.

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Speaker 2: Asia Government of Politics correspondent Rebecca Chung Wilkins is with

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Speaker 2: US for more, Rebecca has spent years trying to convince

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Speaker 2: the US that it's not a national security Throughout that

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Speaker 2: effort seemed to have failed.

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Speaker 9: Now, yes, I mean in the short answer is yes,

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Speaker 9: I mean various US actors have tried to figure out

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Speaker 9: some way to curb or restrict or outright ban TikTok

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Speaker 9: in multiple other bills in Congress and so on in

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Speaker 9: other ways, including for example, also former President Trump. It

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Speaker 9: does seem that this sort of particular framework, this divestor ban,

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Speaker 9: manages to have threaded that noodle worth saying, though, I

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Speaker 9: think that behind the scenes, you know, both the company

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Speaker 9: and Chinese embassy workers, for example, reportedly still meeting with

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Speaker 9: congressional staff, still trying to lobby against the bill and

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Speaker 9: trying to work work magic behind the scenes. Also, of course,

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Speaker 9: you've seen on the app itself TikTok encouraging users to

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Speaker 9: call their senators and impose this, sorry, oppose this, Excuse me.

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Speaker 9: But it does seem like we are moving from that

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Speaker 9: sort of discussion influence phase to litigation phase, and TikTok

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Speaker 9: has said it's going to exhaust all the possible legal

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Speaker 9: avenues it can to try and prevent any kind of divestment,

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Speaker 9: and Beijing potentially has the means to block any such

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Speaker 9: divestment as well.

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Speaker 2: This is Bloomberg Daybreak Europe, your morning brief on the

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