WEBVTT - Biden and Netanyahu to Speak; Iger Wins Proxy Fight

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>Good morning, I'm Nathan Hager.

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<v Speaker 1>And I'm Karen Moscow. Here are the stories we're following today.

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<v Speaker 3>Karen will have more on the markets in a minute. First,

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<v Speaker 3>the latest on the war in the Middle East. As

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<v Speaker 3>tensions deepened between President Biden and Israeli Prime Minister Benjamin Netanyahu.

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<v Speaker 3>The two leaders are scheduled to speak by phone today.

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<v Speaker 3>Bloomberg's Amy Morris reports from Washington.

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<v Speaker 4>President Biden issued his most forceful criticism yet of Israel's

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<v Speaker 4>military conduct after the airstrike on a convoy of workers

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<v Speaker 4>from World Central Kitchen, a disaster relief group founded by

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<v Speaker 4>Chef jose Andres, saying he was outraged and heartbroken and

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<v Speaker 4>calling for swift investigations. The President also accusing Israel of

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<v Speaker 4>not doing enough to protect civilians.

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<v Speaker 5>Now.

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<v Speaker 4>Today's call will be the first between the two men

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<v Speaker 4>since the AID workers were killed. They last spoke on

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<v Speaker 4>March eighteenth in Washington. Amy Morris Bloomberg Radio, Amy, thank

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<v Speaker 4>you well.

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<v Speaker 1>Israel's Prime minister is facing more pressure from within his

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<v Speaker 1>own war cabinet. Benny Ganz, the former military commander who

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<v Speaker 1>now heads Israel's National Unity Party, is calling for early

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<v Speaker 1>elections in September rather than twenty twenty six as scheduled.

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<v Speaker 1>Gansa's popularity has surged with Israeli voters, while Nettan Yahoo's

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<v Speaker 1>has dived. Now Netan Yaho's Likud party says early elections

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<v Speaker 1>would lead to paralysis, division and fatal damage to the

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<v Speaker 1>chances for a hostage deal, but Gan says it would

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<v Speaker 1>not dent Israel's war effort against Tamas and would prevent

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<v Speaker 1>a rift in the nation.

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<v Speaker 3>Well, now, Karen to the latest on US China relations.

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<v Speaker 3>Treasury Secretary Janet Yellen is on her way to China.

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<v Speaker 3>It'll be her second trip in nine months. Yellen spoke

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<v Speaker 3>to reporters in Alaska before leaving and have agreed.

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<v Speaker 6>That it's important to both of us that we don't

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<v Speaker 6>want to decouple our economies. We want to continue.

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<v Speaker 7>We think we both.

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<v Speaker 6>Benefit from trade and investment, but it needs to be

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<v Speaker 6>in the local playing field.

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<v Speaker 3>And while in China, Secretary Yellen will spend two days

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<v Speaker 3>in the southern commercial manufacturing hub of Guangzhou before heading

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<v Speaker 3>to Beijing for two more days of talks.

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<v Speaker 1>We turn to the economy now. Nathan Fedchaer, Jerome Powell

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<v Speaker 1>is reaffirming the Central Bank well likely lower rates this year,

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<v Speaker 1>and we get more from Bloomberg's John Tucker.

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<v Speaker 8>John and Karen Powell's comments at Stanford University helped calm

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<v Speaker 8>any market jitters.

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<v Speaker 9>The policy rate is likely at its peak for this

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<v Speaker 9>tightening cycle. If the economy evolves broadly as we expect,

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<v Speaker 9>most FMC participants see it as likely to be appropriate

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<v Speaker 9>to begin lowering the policy rate at some point this year.

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<v Speaker 8>Pal said. Recent inflation figures, though higher than expected, did

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<v Speaker 8>not materially change the overall picture. Investors are putting roughly

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<v Speaker 8>even odds on an initial rate cut in June, and

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<v Speaker 8>pricing does suggest they see a chance of fewer than

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<v Speaker 8>three reductions this year. Next op investors will closely watch

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<v Speaker 8>non farm payroll data tomorrow for further clues on the

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<v Speaker 8>health of the USA economy and the likely path of

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<v Speaker 8>monetary policy. John Tucker, Bloomberg Radio.

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<v Speaker 3>All right, John, thanks for all investors focused in on

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<v Speaker 3>j Powell. A busy week for Fed speak continues. We'll

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<v Speaker 3>hear from seven different FED officials at different events today. Yesterday,

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<v Speaker 3>FED Governor Adriana Kougler said lower rates are likely this year.

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<v Speaker 3>She said inflation could moderate further without significant cost to

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<v Speaker 3>jobs or economic growth this year, even.

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<v Speaker 10>With demand growth cooling. Given the backdrop of solid supply,

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<v Speaker 10>my baseline expectation is that further disiplation can be accomplished

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<v Speaker 10>without a significant rise in unemployment.

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<v Speaker 3>In FED Governor Adriana Coogler made those comments yesterday at

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<v Speaker 3>Washington University in Saint.

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<v Speaker 1>Louis Well plenty of company news this morning. Nathan Exon

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<v Speaker 1>Mobiles says first quarter earnings will likely be lower than

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<v Speaker 1>in the prior three month period due to falling oil

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<v Speaker 1>and gas prices. We get details from Bloomberg's Turni Pillot.

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<v Speaker 11>In a filing, Exxon said it's upstream division will take

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<v Speaker 11>a hit of as much as one billion dollars from

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<v Speaker 11>lower oil and gas prices. Exon is the first of

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<v Speaker 11>the oil majors to publish earnings guidance for the first quarter.

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<v Speaker 11>The expected drop in profit may signal a tougher earning

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<v Speaker 11>season ahead than the prior period, when four of the

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<v Speaker 11>five super majors comfortably beat handleist expectations despite lower commodity prices.

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<v Speaker 11>In New York, Charlie Pellett Bloomberg Radio.

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<v Speaker 3>All Right, Charlie thank you well, it's a big victory

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<v Speaker 3>for Bob Eiger. Walt Disney shareholders have handed the chief

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<v Speaker 3>executive officer a big vote of confidence, rejecting dissident investor

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<v Speaker 3>Nelson Peltz has been for a board seat at the

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<v Speaker 3>entertainment giant. Gatha Ranganatham covers Disney for Bloomberg Intelligence.

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<v Speaker 12>In terms of any near term changes, I think it's

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<v Speaker 12>just going to be business as usual. Obviously he comes

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<v Speaker 12>out victorious. I think this is definitely going to supercharge

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<v Speaker 12>him and his efforts, but there is going to be continued.

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<v Speaker 12>I think watch on kind of how Disney performs, but

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<v Speaker 12>obvious sleep for today. I think mab Biger is definitely

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<v Speaker 12>very relieved.

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<v Speaker 3>Keith the Rong Andnathan of Bloomberg Intelligence says shareholders elected

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<v Speaker 3>all of Disney's choices for the board. Disney is the

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<v Speaker 3>best performing stock in the Dow Jones Industrial Average this year.

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<v Speaker 2>It's up almost thirty two percent.

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<v Speaker 1>Nathan another media news Bloomberg News has learned Paramount Global,

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<v Speaker 1>the parent of CBS and MTV, is getting closer to

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<v Speaker 1>a deal to merge with independent producer David Ellison's sky

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<v Speaker 1>Dance Media. Hears a Paramount have declined for years, reflecting

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<v Speaker 1>the company's loss of TV viewers to other forms of

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<v Speaker 1>entertainment and its costly efforts to develop a streaming service.

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<v Speaker 3>We're keeping an eye on Apple, Karen. The tech giant

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<v Speaker 3>is exploring a move into personal robotics. Source to say

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<v Speaker 3>Apple engineers are looking for their next big thing after

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<v Speaker 3>canceling a major electric vehicle project.

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<v Speaker 2>In February, Bloomberg's Mark German broke the story.

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<v Speaker 13>This is very nascent, very early. Would be a home

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<v Speaker 13>robot that can follow you around. It would navigate autonomously

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<v Speaker 13>like the self driving car Apple was working on. It

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<v Speaker 13>would have a focus on video conferencing, and there's even

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<v Speaker 13>been discussion internally. This is a pie in the sky idea.

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<v Speaker 13>The eventual peak of robotics could be the device being

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<v Speaker 13>able to do the dishes, clean the dishes in your sink,

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<v Speaker 13>on your.

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<v Speaker 2>Behalf, and blue brigs.

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<v Speaker 3>Mark German says Apple's advertising for robotics related roles on

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<v Speaker 3>its website, indicating that it's trying to expand teams working

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<v Speaker 3>on the project.

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<v Speaker 1>He Nathan, we have news out of the executive suite

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<v Speaker 1>this morning. Carlisle Group chief executive Harvey Schwartz was awarded

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<v Speaker 1>a one hundred and eighty seven million dollar pay package

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<v Speaker 1>in his first year at the private equity firm. The

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<v Speaker 1>former Goldman Sachs president has been tasked with steadying Carlisle

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<v Speaker 1>for growth and bolstering its stock price, which is lagged

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<v Speaker 1>behind its biggest publicly traded rivals. And it's time now

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<v Speaker 1>for a look at some of the other stories making

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<v Speaker 1>news in New York and around the world. We're joined

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<v Speaker 1>by Bloomberg's Michael Barr.

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<v Speaker 2>Michael, good morning, Good morning Karen.

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<v Speaker 14>The rescuers are searching for survivors a day after Taiwan's

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<v Speaker 14>strongest earthquake in a quarter century. Damage buildings, caused multiple

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<v Speaker 14>rock slides and killed at least nine people. More than

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<v Speaker 14>a thousand people were injured in the quake. Meanwhile, the

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<v Speaker 14>White House says it is in touch with officials in

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<v Speaker 14>Taiwan and are ready to help in whatever way is required.

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<v Speaker 14>Several days of torrential rain soaked the Tri state area.

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<v Speaker 14>Southern New Jersey. Residents are worried about flooding, while others

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<v Speaker 14>just want the rain to stop. In Westville, New Jersey,

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<v Speaker 14>construction crews worked in the mud, and one worker admits

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<v Speaker 14>it wasn't pleasant.

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<v Speaker 8>It's not the easiest conditions in the world, that's for sure.

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<v Speaker 8>You know, we've were working out in the rain all day.

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<v Speaker 11>Cold, you know, chilly, muggy.

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<v Speaker 14>Other parts of New Jersey had downed trees and power lines.

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<v Speaker 14>New York Mayor Eric Adams and the NYPD released crime

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<v Speaker 14>statistics for the first quarter of this year. According to Adams,

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<v Speaker 14>there has been more than a twenty three percent drop

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<v Speaker 14>and overall crime in the subway system from March of

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<v Speaker 14>twenty twenty four to the same time last year. Adams

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<v Speaker 14>reference to the moment earlier this week when he and

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<v Speaker 14>officers were down in the subway system.

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<v Speaker 15>People were walking through the gate or attempting to walk

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<v Speaker 15>through the gates so frequently, and one guy.

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<v Speaker 2>Told us what is transit is free, has been free

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<v Speaker 2>for weeks.

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<v Speaker 15>No one was taking the initiative of saying this is

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<v Speaker 15>the expected behavior on our system. We're now taking that initiative.

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<v Speaker 14>Adam's also highlighted the one thousand additional uniformed officers into

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<v Speaker 14>the subway system each day. Foreign ministers, including Secretary of

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<v Speaker 14>State Anthony Blanklin, gathered in Brussels to mark seventy five

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<v Speaker 14>years of NATO.

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<v Speaker 16>Let us together protect all we built in seventy five

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<v Speaker 16>years under NATO's shield, and I'm sure that remains strong

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<v Speaker 16>to keep building for the next seventy five years and

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<v Speaker 16>well beyond that.

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<v Speaker 14>It was founded in nineteen forty nine as collective protection

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<v Speaker 14>against aggression from the Soviet Union. Global News twenty four

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<v Speaker 14>hours a day and whenever you want it with the

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<v Speaker 14>Bloomberg News. Now. I'm Michael Barr in this is Bloomberg Heron.

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<v Speaker 1>All right, Michael barr thank you. Time now for the

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<v Speaker 1>Bloomberg Sports Update with John Stashauer.

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<v Speaker 2>John, good morning, Good morning, Karen.

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<v Speaker 5>Rangers and Devils at the Garden. When they met last

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<v Speaker 5>month in Newark, there was an illegal hit by the

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<v Speaker 5>Rangers rookie and forcer, and Matt Rempy got suspended for it.

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<v Speaker 5>The Devils felt they didn't have a chance for adequate revenge.

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<v Speaker 5>So here's what took place. A second after the opening

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<v Speaker 5>face off, the.

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<v Speaker 17>Gloves are dropped. We've got a line brawl Jimmy Feci

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<v Speaker 17>and it looks like Curtis Lazaar, so I have to

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<v Speaker 17>set a redline. Meanwhile, Rempy and McDermott trump the gloves

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<v Speaker 17>outside the circle.

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<v Speaker 11>Goutrow has picked.

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<v Speaker 17>Up Kevin Ball, Jacob Truba has picked up Chris Tierney,

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<v Speaker 17>and back of the Rangerson, you've got KeAndre Miller and

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<v Speaker 17>Sean Marito.

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<v Speaker 5>He has been radied with the blow by blow. It

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<v Speaker 5>was the scene straight out of the movie Slap Shot.

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<v Speaker 5>The main event was a rempy against the Devil's Curtis McDermott.

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<v Speaker 5>They squared off for about ninety seconds, ten fighting penalties,

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<v Speaker 5>eight game misconducts, and then they played hockey and the

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<v Speaker 5>Rangers won four to three on a Chris Crader goal

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<v Speaker 5>with five minutes left. Nets beat the Pacers one, fifteen,

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<v Speaker 5>one eleven in Boston, Celtics sixtieth winner thirty three and three.

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<v Speaker 5>At home, they blew out Oklahoma City by thirty five.

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<v Speaker 5>Celtics that clinched home court throughout the NBA playoffs. Yankees

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<v Speaker 5>back in New York home opener tomorrow. Water road trip

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<v Speaker 5>to start the season against two quality teams, Houston and Arizona.

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<v Speaker 2>They went six to one. Four of the wins were

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<v Speaker 2>nail biers.

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<v Speaker 5>They ended the trip beating the Diamondbacks six to five

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<v Speaker 5>and eleven and eight's two run homers for Aaron Judge

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<v Speaker 5>and Alex Verdugo. First of the year for Judge versus

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<v Speaker 5>a Yankee for Verdugo Mets and Tigers. Another rain out,

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<v Speaker 5>at least this time. They made the call early on

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<v Speaker 5>doubleheaded this afternoon at City Field and the Dodgers five

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<v Speaker 5>to four window of the Giants, a long home run

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<v Speaker 5>for Joeyotani is first with his new team his old team.

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<v Speaker 5>The Angels won ten to two in Miami, and the

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<v Speaker 5>Marlins are all and seven, with all seven losses at home.

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<v Speaker 5>Buffalo Bills have traded their four time Pro Bowl wideout

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<v Speaker 5>Stefan Diggs to Houston for a second round draft pick

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<v Speaker 5>next year. John Stashedward, Bloomberg Sports Karon, Nathan all.

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<v Speaker 1>Right, John, thank you. SNP and Down futures at a

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<v Speaker 1>quarter percent this morning, Nasdaq futures at fourteen of up percent,

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<v Speaker 1>and the ten year Treasury yield four point three five percent.

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<v Speaker 7>Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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<v Speaker 7>and around the world on Bloomberg dot Com and the

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<v Speaker 7>Bloomberg Business app. This is Bloomberg Daybreak. Good morning.

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<v Speaker 3>I'm Nathan Hager, waiting on what could be a tough

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<v Speaker 3>call for President Biden and Israeli Prime Minister Benjamin Netanyahu.

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<v Speaker 3>The two leaders are set to speak by phone today,

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<v Speaker 3>just three days after the deadly strike on World Central

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<v Speaker 3>kitchen workers in Gaza that prompted some of the toughest

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<v Speaker 3>words yet from the President over Israel's conduct of its

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<v Speaker 3>war with Hummas. For the latest were joined by Bloomberg

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<v Speaker 3>News Senior editor Bill Ferries. Bill, good morning. We've seen

0:11:42.720 --> 0:11:47.040
<v Speaker 3>this shift in rhetoric that's been building from President Biden

0:11:47.760 --> 0:11:50.959
<v Speaker 3>really since this war began. It almost seems like this

0:11:51.080 --> 0:11:53.959
<v Speaker 3>incident that killed those seven World Central Kitchen workers has

0:11:54.000 --> 0:11:55.280
<v Speaker 3>really brought things to a head.

0:11:56.400 --> 0:11:56.600
<v Speaker 7>Yeah.

0:11:56.640 --> 0:11:59.440
<v Speaker 18>I think it's the latest blow in a very very

0:11:59.480 --> 0:12:04.680
<v Speaker 18>strained relationship, particularly between these two leaders. And you know,

0:12:04.760 --> 0:12:07.640
<v Speaker 18>we've heard for weeks the White House and President Biden

0:12:07.720 --> 0:12:12.440
<v Speaker 18>himself calling for a different approach, particularly with so many

0:12:12.480 --> 0:12:16.160
<v Speaker 18>people huddled in the southern Gaza city of Rafa now

0:12:16.800 --> 0:12:19.640
<v Speaker 18>in Israel, saying it will continue to go forward with

0:12:19.720 --> 0:12:23.480
<v Speaker 18>plans for some kind of a ground invasion. And so

0:12:23.600 --> 0:12:25.800
<v Speaker 18>this call today is going to be the kind of

0:12:25.800 --> 0:12:28.920
<v Speaker 18>the latest chapter in that between between these two leaders.

0:12:29.440 --> 0:12:33.800
<v Speaker 18>The real question is, though, whether whether the US pressure

0:12:34.400 --> 0:12:38.080
<v Speaker 18>ends up really going beyond the public rhetoric and whether

0:12:38.160 --> 0:12:40.240
<v Speaker 18>it starts to hold off on some of these kind

0:12:40.240 --> 0:12:44.400
<v Speaker 18>of big ticket weapons sales or weapons provisions to Israel

0:12:45.040 --> 0:12:47.800
<v Speaker 18>that have always kind of defined the relationship. So far,

0:12:47.840 --> 0:12:50.400
<v Speaker 18>the Biden administration hasn't been willing to go that far.

0:12:51.240 --> 0:12:53.960
<v Speaker 18>There has been some talk around the margins about doing so,

0:12:54.080 --> 0:12:55.080
<v Speaker 18>but nothing serious.

0:12:55.120 --> 0:12:55.439
<v Speaker 1>And so.

0:12:56.960 --> 0:13:00.600
<v Speaker 18>The latest strike has drawn a lot of criticisms, but

0:13:00.640 --> 0:13:04.520
<v Speaker 18>it hasn't fundamentally changed what's happening on the back side

0:13:04.520 --> 0:13:05.239
<v Speaker 18>of the relationship.

0:13:05.360 --> 0:13:05.480
<v Speaker 7>Now.

0:13:05.520 --> 0:13:07.520
<v Speaker 3>That is the real question, isn't it, Bill, Because we

0:13:07.600 --> 0:13:09.960
<v Speaker 3>have seen this sort of growing divide between the rhetoric

0:13:09.960 --> 0:13:12.400
<v Speaker 3>that we're hearing from the president and the policy still

0:13:12.440 --> 0:13:15.800
<v Speaker 3>continuing for US support. But President Biden, as you say,

0:13:15.920 --> 0:13:18.200
<v Speaker 3>is really starting to feel pressure even from within his

0:13:18.240 --> 0:13:21.480
<v Speaker 3>own party, some powerful senators saying that the US should

0:13:21.600 --> 0:13:24.200
<v Speaker 3>use its leverage when it comes to weapons to try

0:13:24.240 --> 0:13:26.120
<v Speaker 3>to go to Israel in a different direction.

0:13:27.480 --> 0:13:30.640
<v Speaker 18>Absolutely, there's a lot of political pressure on the president

0:13:30.679 --> 0:13:34.240
<v Speaker 18>from both sides really on this now, but particularly in

0:13:34.320 --> 0:13:37.880
<v Speaker 18>his party. You have young voters who are really mobilized

0:13:37.920 --> 0:13:40.720
<v Speaker 18>by this issue, by the war, who are much more

0:13:40.880 --> 0:13:44.680
<v Speaker 18>likely to have some sympathy for the Palestinian cause here

0:13:45.360 --> 0:13:47.680
<v Speaker 18>and many of those voters are in some key swing

0:13:47.720 --> 0:13:50.080
<v Speaker 18>states that the president will have to win if he

0:13:50.120 --> 0:13:54.240
<v Speaker 18>wants to take the election in November. So I think

0:13:54.240 --> 0:13:57.120
<v Speaker 18>it's you know, on the other hand, you have an

0:13:57.160 --> 0:14:00.280
<v Speaker 18>Israeli Prime minister who hasn't shown much signs of backing down.

0:14:00.400 --> 0:14:02.920
<v Speaker 18>So I don't know how you thread that needle. I

0:14:02.920 --> 0:14:04.560
<v Speaker 18>don't know that these two leaders are going to have

0:14:04.600 --> 0:14:07.440
<v Speaker 18>any kind of a big breakthrough today, but it will

0:14:07.440 --> 0:14:10.840
<v Speaker 18>be I'm sure a very frank conversation about their disagreements.

0:14:11.280 --> 0:14:11.400
<v Speaker 14>Now.

0:14:11.440 --> 0:14:13.720
<v Speaker 3>Bill, of course, you're based in Singapore, so not too

0:14:13.800 --> 0:14:16.960
<v Speaker 3>far in relative terms from what's happening in Taiwan after

0:14:17.000 --> 0:14:19.520
<v Speaker 3>the deadly earthquake there. Can you get us caught up

0:14:19.560 --> 0:14:20.320
<v Speaker 3>on the recovery.

0:14:21.440 --> 0:14:21.720
<v Speaker 7>Sure.

0:14:21.760 --> 0:14:25.320
<v Speaker 18>We just had an update from the emergency personnel running

0:14:25.360 --> 0:14:29.120
<v Speaker 18>the rescue operations. They've raised the death toll so far

0:14:29.640 --> 0:14:33.240
<v Speaker 18>from this quake to ten people. It's the worst quake

0:14:33.320 --> 0:14:36.960
<v Speaker 18>that Taiwan has suffered in about twenty five years, but

0:14:37.040 --> 0:14:39.960
<v Speaker 18>it does seem like a lot it could have been

0:14:40.040 --> 0:14:42.760
<v Speaker 18>much worse if not for a lot of building code

0:14:42.880 --> 0:14:45.480
<v Speaker 18>changes and things like that that came into effect. And

0:14:45.560 --> 0:14:49.119
<v Speaker 18>after that nineteen ninety nine quake, there are still people stranded,

0:14:49.720 --> 0:14:54.440
<v Speaker 18>potentially trapped, but it does seem like in terms of

0:14:54.480 --> 0:14:56.720
<v Speaker 18>the human costs that it's topped out.

0:14:56.760 --> 0:14:57.200
<v Speaker 14>So far.

0:14:57.640 --> 0:15:00.320
<v Speaker 18>The economy seems to be getting back on track. You

0:15:00.360 --> 0:15:05.040
<v Speaker 18>heard from TSMC, one of the world's most important semiconductor

0:15:05.200 --> 0:15:09.160
<v Speaker 18>chip producers, that they are getting their operations back online.

0:15:09.760 --> 0:15:12.880
<v Speaker 18>We do expect to hear at some point an impact

0:15:13.000 --> 0:15:16.400
<v Speaker 18>on terms of their deliveries and sales, but that will

0:15:16.440 --> 0:15:18.800
<v Speaker 18>be pretty limited given how quickly they are able to

0:15:18.840 --> 0:15:20.880
<v Speaker 18>get these factories going again.

0:15:21.200 --> 0:15:22.360
<v Speaker 2>Okay, Bill, thanks for this.

0:15:22.480 --> 0:15:25.480
<v Speaker 3>As always, Bill Ferries, their senior editor for Bloomberg News,

0:15:25.760 --> 0:15:30.640
<v Speaker 3>joining us this morning from Singapore. This is Bloomberg day

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