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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Nathan

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Speaker 1: Hager and I'm Karen Moscow. Here are the stories we're

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Speaker 1: following today.

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Speaker 2: We begin with major developments in the Middle East. Israeli

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Speaker 2: troops have taken control of the Rafa border crossing area

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Speaker 2: in Gaza. It is the first time Israel's army has

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Speaker 2: moved into the area since the war with Hamas began

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Speaker 2: last October. We get the latest with Bloomberg's Rosalind of Athisen.

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Speaker 3: That is the conduit between Egypt and Gaza and has

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Speaker 3: been a major port of operation for aid to go

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Speaker 3: into Gaza in recent months. It's not the only crossing

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Speaker 3: into Gaza, but there's only a few, and they've been

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Speaker 3: pretty troubled throughout, and so it's really going to raise

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Speaker 3: questions about the flow of aid into Gaza. It also

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Speaker 3: points to the fact that Israel is very determined to

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Speaker 3: push ahead with some sort of offensive in Rafa, whether

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Speaker 3: that's within weeks or days or whatever. They're making preparations

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Speaker 3: for it.

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Speaker 2: And that's Bloomberg's Roslyn Matheson reporting.

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Speaker 1: Well dungons build in Gaza. Nathan College campuses across the

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Speaker 1: country continue to grapple with pro Palestinian protesters. Columbia University

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Speaker 1: called off its main commencement ceremony yesterday, less than a

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Speaker 1: week after calling in police on demonstrators. Harvard and MIT

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Speaker 1: are warning students to leave their encampments or face suspension,

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Speaker 1: and Citadel founder in Harvard grad Ken Griffin is delivering

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Speaker 1: a warning of his own.

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Speaker 4: As a donor at Harvard, I've made it really clear

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Speaker 4: I am going to curtail my charitable giving until Harvard

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Speaker 4: recommits itself to meritocracy in a very public and profound way.

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Speaker 1: Citadel's Ken Griffin says the protests are the product of

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Speaker 1: a failed education system. He spoke at the Milk and

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Speaker 1: Global Institute conference in Beverly Hills and Karen.

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Speaker 2: President Biden plans to speak as well. He's expected to

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Speaker 2: denounce the growing number of anti Semitic incidents across the

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Speaker 2: country on college campuses. We get that sorry from Bloomberg

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Speaker 2: Steve Potisk in Washington.

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Speaker 5: During his speech at an annual Holocaust commemoration at the

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Speaker 5: US Capital, the President is expected to criticize anti Jewish

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Speaker 5: rhetoric athet protests as unacceptable. He will also urge Americans

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Speaker 5: to speak out against anti Semitism and other forms of hate.

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Speaker 5: A White House official says Biden will also recount the

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Speaker 5: atrocities of Hamasa's October assault on Israel, has the deadliest

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Speaker 5: attack on Jews since the Nazi campaign to exterminate the

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Speaker 5: Jews of Europe, and say too many people are downplaying

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Speaker 5: both events. The speech highlights the political dilemma facing Biden

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Speaker 5: at the seven month mark of Israel's war in Gaza,

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Speaker 5: which has exposed divisions within the Democratic Party that could

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Speaker 5: hurt his chances of winning the November election. In Washington,

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Speaker 5: Steve Potisk Bloomberg Radio, all.

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Speaker 1: Right, Steve, thank you, now to the latest on the

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Speaker 1: criminal hush money trial of Donald Trump. The former president

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Speaker 1: returns to court today facing a threat of jail time

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Speaker 1: for additional gag order violations. Has prosecuted gear up to

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Speaker 1: summoned big name of witnesses in the final weeks of

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Speaker 1: the case. Bloomberg The Law host June Grosso explains.

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Speaker 6: For the second time, Judge One Mershawn found Trump in

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Speaker 6: contempt of court for violating a gag order. He fined

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Speaker 6: Trump one thousand dollars and warned he could jail him

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Speaker 6: for further violations. Of an order intended to protect witnesses

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Speaker 6: as well as jurors. The judge said he understood the

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Speaker 6: significance of jailing a former president and current candidate, especially

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Speaker 6: since putting Trump behind bars would raise serious logistical issues.

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Speaker 6: But at the end of the day, quote, I have

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Speaker 6: a job to do, and part of that job is

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Speaker 6: to protect the dignity of the system. In New York,

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Speaker 6: June Grosso Bloomberg Radio.

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Speaker 1: And Bloomberg's June Grasso says that Trump has repeatedly attacked

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Speaker 1: the gag order and claims it unfairly is restricting his

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Speaker 1: free speech rights.

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Speaker 2: And in other news this morning, Karen, it's another setback

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Speaker 2: for Boeing, this time in space. The first launch of

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Speaker 2: the playmaker's star Liner space capsule with astronauts on board

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Speaker 2: has been delayed. Officials found something wrong with the valve

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Speaker 2: on the Atlas five rocket that was supposed to send

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Speaker 2: that spacecraft into orbit. Now investigators will have to decide

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Speaker 2: if that valve needs to be replaced. The next backup

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Speaker 2: dates for liftoff are today, this Friday or Saturday.

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Speaker 1: When we turn to the markets, now, Nathan it shares

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Speaker 1: a ubs are up more than eight percent, overseas, the

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Speaker 1: Swiss bank has returned to profit after two quarters of losses.

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Speaker 1: UBS reported first quarter net income of almost one point

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Speaker 1: eight billion dollars, three times what analysts were expecting. CEO

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Speaker 1: Sergio or Maadi told Bloomberg the absorption of its former

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Speaker 1: rival is going well.

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Speaker 7: As we integrate a new colleagues from Credit Switch on

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Speaker 7: our platform, we start to see the pipeline developing we

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Speaker 7: are able to execute. So it's very much aligned with

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Speaker 7: our expectations of improving the mix between our markets business

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Speaker 7: and our banking business and the investment bank.

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Speaker 1: CEO Sergio Ormadi says the bank thank is targeting the

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Speaker 1: completion of the legal merger with Credit SUEEE by the

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Speaker 1: end of the month. And get the full conversation on

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Speaker 1: the Bloomberg Talks podcast feed, available on Apple, Spotify and

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Speaker 1: anywhere else you get your podcasts.

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Speaker 2: And those aren't the only earnings we're seeing out of

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Speaker 2: Europe this morning, Karen, we're watching shares of Unit Credit.

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Speaker 2: They are up more than three percent. Profit at Italy's

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Speaker 2: second biggest bank, top analyst estamates is higher fees and

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Speaker 2: lending income boosted revenue. On the flip side, BP is

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Speaker 2: down about a half percent. First quarter profit and cash

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Speaker 2: flow at the oil major fell by more than expected,

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Speaker 2: and net debt increased BP, though did maintain the pace

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Speaker 2: of its share buybacks well.

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Speaker 1: Here in the US, Nathan Shares appall and Teer Technologies

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Speaker 1: are down more than nine percent in early trading. Investors.

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Speaker 1: We're unimpressed by the company's outlook for annual sales, and

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Speaker 1: we get this story from Bloomberg's Charlie Pellett.

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Speaker 8: Well stock has already tripled in the past year. The

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Speaker 8: company did nudge its annual revenue forecasts slightly higher, to

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Speaker 8: a range of two point sixty eight to two point

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Speaker 8: sixty nine billion. Analysts had expected two point sixty eight

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Speaker 8: billion on average. Palenteer is one of the marquee stalks

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Speaker 8: of the tech world's current AI frenzy, with new products

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Speaker 8: helping to catapult it more than two hundred percent over

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Speaker 8: the last twelve months. Co Founded by Peter Thiel, Palenteer

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Speaker 8: developed software and analysis tools for companies and government agencies

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Speaker 8: allied with American interests in New York. Charlie Pellett Bloomberg.

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Speaker 2: Radio, All right, Charlie, thank you meantime. Tesla founder Elon

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Speaker 2: Musk is sitting down with Michael Milkin at the Milkin

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Speaker 2: Conference in Los Angeles, talking about a range of issues

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Speaker 2: from immigration to free speech, as well as the threats

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Speaker 2: posted to humanity by artificial intelligence.

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Speaker 9: We just, I guess, don't want to AI.

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Speaker 10: That is brutal.

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Speaker 9: I think biological intelligence can serve as a backstop, as

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Speaker 9: a buffer of intelligence, but almost all, as a percentage,

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Speaker 9: almost all intelligence will be digital.

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Speaker 2: It's like, what role will it be for us?

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Speaker 4: I don't know.

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Speaker 2: Elon Musk, also the founder of SpaceX, added that AI

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Speaker 2: still has a long way to go before it can

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Speaker 2: become a viable tool in the space exploration industry. There

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Speaker 2: was no mention of Tesla, one of Musk's other companies,

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Speaker 2: during that conversation at Milkin.

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Speaker 1: And it is time now for a look at some

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Speaker 1: of the other stories making news in New York and

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Speaker 1: around the world. For that, we're joined by Bloomberg's Michael

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Speaker 1: Barr Michael, Good Morning, Good morning Karen.

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Speaker 10: After a nearly two hour meeting with House Speaker Minke Johnson,

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Speaker 10: Republican Congresswoman Marjorie Taylor Green says she plans to meet

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Speaker 10: with him again today. Green will be joined by a

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Speaker 10: fellow Republican representative Thomas Massey. The two have threatened to

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Speaker 10: house the speaker, but the motion of a kid hasn't

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Speaker 10: gained much support among their colleagues. Green, speaking to reporters

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Speaker 10: after yesterday's.

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Speaker 11: Meeting, I just had a long discussion with the Speaker

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Speaker 11: in his office about ways to move forward for a

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Speaker 11: Republican controlled House of Representatives.

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Speaker 10: When pressed on Weather, she still plans to move forward

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Speaker 10: with her motion to vacate Representative Greens, and we'll have

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Speaker 10: more information after today. Speaker Johnson described Monday's meeting as

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Speaker 10: lengthy and constructive. An American soldiers behind bars in Russia.

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Speaker 10: Local media reports Army staff sergeant Gordon Black is accused

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Speaker 10: of stealing and beating a woman. Black may have been

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Speaker 10: visiting a woman he met while stationed in South Korea.

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Speaker 10: Black's more their melody. Jones describes the couple's relationship as

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Speaker 10: volatile and says she was worried about her son visiting Russia.

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Speaker 12: I'm hoping he's not being tortured or her It's just

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Speaker 12: hard being a mom and being in that situation and

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Speaker 12: not knowing, not being the touching, you know, hugging, telling

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Speaker 12: me it'll be okay.

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Speaker 10: Sergeant Black is the latest and a string of Americans

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Speaker 10: detained in Russia, joining businessman Paul Wheeland held since twenty

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Speaker 10: eighteen and Wall Street Journal reporter Evan Gerskovich, held since

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Speaker 10: last year. Scores of pro Palestinian protesters were blocked by

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Speaker 10: the police from getting close to the MET Gala, one

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Speaker 10: of the most exclusive annual events in New York City's calendar.

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Speaker 10: The demonstrators were heading toward the venue, the Metropolitan Museum

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Speaker 10: of Art on the Upper East Side, when they were

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Speaker 10: intercepted by the NYPD. As for the met Gala itself,

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Speaker 10: it featured a garden green tinted carpet and a list

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Speaker 10: celebrities from film, fashion, music, sports, politics, and social media.

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Speaker 10: This year's attendees included Jeff Bezos, Steve Schwartzman, Kim Kardashian,

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Speaker 10: Serena Williams, and Matt Damon. One person who wasn't there

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Speaker 10: the Sas Grammy winner Rihanna, who was said to have

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Speaker 10: come down with the flu. Global News twenty four hours

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Speaker 10: a day and whenever you wanted with Bloomberg News now

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Speaker 10: Michael Barr and this is.

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Speaker 1: Bloomberg, Karen, you know I could get sick just thinking

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Speaker 1: of what to wear to the medgala, but you always

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Speaker 1: nail at Michael Barr. All right, Mugel Barr, thank you.

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Speaker 1: It's time now for the Bloomberg Sports Update, and here's

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Speaker 1: John stash Hour.

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Speaker 2: John, good morning, Good morning, Caaren.

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Speaker 13: Like old times at the guard of the Knicks and

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Speaker 13: the Indiana Pacers in the postseason, they met six times

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Speaker 13: an eight year period in the nineteen nineties to two

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Speaker 13: thousand and those were mostly close series, tight games, and

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Speaker 13: this series opener not decided until the final minute one

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Speaker 13: on one, with Nemhart backing his way in at the

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Speaker 13: top of.

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Speaker 2: The key shot locked down to six steven Shenzo.

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Speaker 8: Seek three left side.

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Speaker 1: That's good and the Knicks are on top by three.

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Speaker 13: Quit thirty nine seconds to go, knocked to wait by

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Speaker 13: heart stolen by McBride, taken by Ananobi triples towards midport.

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Speaker 6: Game one goes to the Knicks one twenty one till one.

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Speaker 13: Seventeenwapn Nicks led once again by Jalen Brunson forty three

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Speaker 13: points twenty one on the fourth qorder. The list of

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Speaker 13: players to have four concent of forty point playoff games

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Speaker 13: is short. Michael Jordan, Jerry West, the former Nick Bernard

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Speaker 13: King and now Brunson Devincenzo had that tie breaking three

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Speaker 13: finished with twenty five points. Josh Hart, as usual, played

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Speaker 13: the whole game twenty four points, thirteen rebounds, eight assists,

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Speaker 13: three steals, so the Villanova.

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Speaker 10: Guys led the way.

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Speaker 13: Game two at MSG tomorrow Stateman win by Minnesota playing

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Speaker 13: without starting center Rudy Gobert, and yet by halftime in

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Speaker 13: Denver up by twenty six, they won by twenty six

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Speaker 13: as both Anthony Edwards and Karl Anthony Town scored twenty seven.

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Speaker 13: Timberwolves go home up to nothing on the defending NBA champions.

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Speaker 10: They had the Cup playoffs.

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Speaker 13: The Brewin scored three times at a seven minute span

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Speaker 13: of the second period one Game one at Florida, five

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Speaker 13: to one, five Boston goal scorers, including Brandon Carlow, who

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Speaker 13: arrived at the rink just before face off. His son

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Speaker 13: was born yesterday morning at the guarding tonight, Rangers and

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Speaker 13: Hurricanes Game two. After getting swept over the weekend, Mets

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Speaker 13: went to Saint Louis Blue a three nothing lead. The

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Speaker 13: Brandon Neimo homer seventh Thenny Mets won four to three.

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Speaker 13: Red Hot Phillies beat the Giants six to one the

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Speaker 13: fields of one seventeen to the last, twenty fifth graight

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Speaker 13: win for the Dodgers as Shoeyl Tany hit a Major

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Speaker 13: League meeting eleventh.

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Speaker 8: Homer John stashed.

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Speaker 13: We're Bloomberg Sport Canon Nathan.

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Speaker 10: Coast to coast on Bloomberg Radio, nationwide on Sirius XM, and.

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Speaker 8: Around the world on Bloomberg dot Com and the Bloomberg

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Speaker 8: Business app.

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Speaker 2: This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. We

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Speaker 2: want to get to the latest now from the Middle East.

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Speaker 2: Israeli troops have taken control of the border crossing area

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Speaker 2: in the southern Gaza city of Rafa. This comes a

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Speaker 2: day after Israel's military tolt residence in the eastern part

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Speaker 2: of that heavily populated city to leave immediately ahead of

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Speaker 2: a possible attack. Joining us from Tel Aviv. Now is

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Speaker 2: Bloomberg Israel Economy and Government reporter Galite Alstein Ghalite, Good morning.

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Speaker 2: Thank you for being with us. Can you tell us

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Speaker 2: the situation in Rafa now as far as we understand it, Yes, I.

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Speaker 14: Am, good morning, Nathan. So, as you mentioned, the Israeli

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Speaker 14: army has taken control of the Rafa border crossing. This

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Speaker 14: is the Goden side of the crossing. It also has

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Speaker 14: an Egyptian side, but obviously Israel is now centered on

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Speaker 14: the Garden side of this crossing. We know that the

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Speaker 14: Idea tells us this morning that this operation stemmed from

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Speaker 14: intelligence and that this is a highly targeted, specific operation

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Speaker 14: that is meant, as the Idea of says to the

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Speaker 14: involves counter terrorism there, so that's what we're seeing on

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Speaker 14: the ground now. The Israeli Army also says that the

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Speaker 14: best majority of the people who are in the eastern

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Speaker 14: parts of Rapha and we're asked to evacuate yesterday have

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Speaker 14: in fact evacuated, and that is also what made this

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Speaker 14: operation possible.

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Speaker 2: So it sounds at this point as though it's falling

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Speaker 2: short of the major operation that the US and many

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Speaker 2: of Israel's allies have warned against.

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Speaker 14: Yes, that is true. The songs that we're getting is

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Speaker 14: that this is a very targeted operation. What happened several

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Speaker 14: days ago is that Hamas militants fired bombarded Israeli forces

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Speaker 14: from the area of the Rafa crossing. They were shooting

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Speaker 14: toward the Klam Shalom crossing, which is on the border

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Speaker 14: between Israel and Gaza, and after this incident, Israel said

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Speaker 14: that it wants to retaliate, and based on the location

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Speaker 14: from where the Hamasa tech attack took place, from near

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Speaker 14: the Rafa crossing, and other intelligence that the IDEA gathered,

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Speaker 14: they decided to move forward with this operation. As I mentioned,

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Speaker 14: and as you mentioned, they say that this is a

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Speaker 14: very specific targeted operation that is taking place there now,

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Speaker 14: and we're not sure that this is part you know,

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Speaker 14: it's hard to separate and distinguish the two, but this

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Speaker 14: is not necessarily part of the all out Rafa operation

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Speaker 14: Israel and the US and many others have been talking

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Speaker 14: about and anticipating over the past several weeks.

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Speaker 2: And of course this comes hours after Hamas said it

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Speaker 2: had gotten behind the latest seasfire proposal, but Israel's war

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Speaker 2: cabinet had rejected that latest proposal. What happened with the

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Speaker 2: ceasefire negotiations? What was it that the Israeli war cabinet

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Speaker 2: came out against?

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Speaker 14: Right, So I have to say that the information on

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Speaker 14: this is still, you know, flowing it as we speak,

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Speaker 14: but as far as we can tell, there are two

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Speaker 14: issues that I would say are sticking points in the

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Speaker 14: proposal that Hamas said yes to and that Israel has

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Speaker 14: rejected last night. The first is the number of hostages

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Speaker 14: that will be released in the first stage of such

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Speaker 14: a deal. Israel and the other mediators have been talking

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Speaker 14: about thirty three Israeli hostages, live hostages that will be

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Speaker 14: released at the first part of this deal, and as

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Speaker 14: far as we can tell, what Hamas has said yes

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Speaker 14: to is the release of thirty three thirty three hostages

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Speaker 14: that we will be dead or live, and Israel does

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Speaker 14: not want to accept that. And the second thing, which

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Speaker 14: is maybe more of a principal issue, is the fact

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Speaker 14: that after the first stage of the deal is finished

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Speaker 14: and the deal moves on to its second stage that

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Speaker 14: involves the release of Israeli soldiers were being held mosted

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Speaker 14: by Hamas, that would involve something that is being referred

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Speaker 14: to as a sustainable ceasefire. In other words, it's a

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Speaker 14: permanent cease fire that is meant at least as far

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Speaker 14: as Hamas is concerned, to stop Israel from going back

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Speaker 14: to fighting after the deal the ceasefire deal is over,

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Speaker 14: and that is something that Israel has been rejecting and

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Speaker 14: that Hamas wants very much and that is a very

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Speaker 14: major sticking point for the size now and from what

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Speaker 14: we understand, maybe the biggest form of this PIM.

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