Biden and Netanyahu to Speak; Iger Wins Proxy Fight

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Good morning, I'm Nathan Hager.

And I'm Karen Moscow. Here are the stories we're following today.

Karen will have more on the markets in a minute. First, the latest on the war in the Middle East. As tensions deepened between President Biden and Israeli Prime Minister Benjamin Netanyahu. The two leaders are scheduled to speak by phone today. Bloomberg's Amy Morris reports from Washington.

President Biden issued his most forceful criticism yet of Israel's military conduct after the airstrike on a convoy of workers from World Central Kitchen, a disaster relief group founded by Chef jose Andres, saying he was outraged and heartbroken and calling for swift investigations. The President also accusing Israel of not doing enough to protect civilians.

Now.

Today's call will be the first between the two men since the AID workers were killed. They last spoke on March eighteenth in Washington. Amy Morris Bloomberg Radio, Amy, thank you well.

Israel's Prime minister is facing more pressure from within his own war cabinet. Benny Ganz, the former military commander who now heads Israel's National Unity Party, is calling for early elections in September rather than twenty twenty six as scheduled. Gansa's popularity has surged with Israeli voters, while Nettan Yahoo's

Well, now, Karen to the latest on US China relations. Treasury Secretary Janet Yellen is on her way to China. It'll be her second trip in nine months. Yellen spoke to reporters in Alaska before leaving and have agreed.

That it's important to both of us that we don't want to decouple our economies. We want to continue.

We think we both.

Benefit from trade and investment, but it needs to be in the local playing field.

And while in China, Secretary Yellen will spend two days in the southern commercial manufacturing hub of Guangzhou before heading to Beijing for two more days of talks.

We turn to the economy now. Nathan Fedchaer, Jerome Powell is reaffirming the Central Bank well likely lower rates this year, and we get more from Bloomberg's John Tucker.

John and Karen Powell's comments at Stanford University helped calm any market jitters.

The policy rate is likely at its peak for this tightening cycle. If the economy evolves broadly as we expect, most FMC participants see it as likely to be appropriate to begin lowering the policy rate at some point this year.

Pal said. Recent inflation figures, though higher than expected, did not materially change the overall picture. Investors are putting roughly even odds on an initial rate cut in June, and pricing does suggest they see a chance of fewer than three reductions this year. Next op investors will closely watch non farm payroll data tomorrow for further clues on the health of the USA economy and the likely path of monetary policy. John Tucker, Bloomberg Radio.

All right, John, thanks for all investors focused in on j Powell. A busy week for Fed speak continues. We'll hear from seven different FED officials at different events today. Yesterday, FED Governor Adriana Kougler said lower rates are likely this year. She said inflation could moderate further without significant cost to jobs or economic growth this year, even.

With demand growth cooling. Given the backdrop of solid supply, my baseline expectation is that further disiplation can be accomplished without a significant rise in unemployment.

In FED Governor Adriana Coogler made those comments yesterday at Washington University in Saint.

Louis Well plenty of company news this morning. Nathan Exon Mobiles says first quarter earnings will likely be lower than in the prior three month period due to falling oil and gas prices. We get details from Bloomberg's Turni Pillot.

In a filing, Exxon said it's upstream division will take a hit of as much as one billion dollars from lower oil and gas prices. Exon is the first of the oil majors to publish earnings guidance for the first quarter. The expected drop in profit may signal a tougher earning season ahead than the prior period, when four of the five super majors comfortably beat handleist expectations despite lower commodity prices. In New York, Charlie Pellett Bloomberg Radio.

All Right, Charlie thank you well, it's a big victory for Bob Eiger. Walt Disney shareholders have handed the chief executive officer a big vote of confidence, rejecting dissident investor Nelson Peltz has been for a board seat at the entertainment giant. Gatha Ranganatham covers Disney for Bloomberg Intelligence.

In terms of any near term changes, I think it's just going to be business as usual. Obviously he comes out victorious. I think this is definitely going to supercharge him and his efforts, but there is going to be continued. I think watch on kind of how Disney performs, but obvious sleep for today. I think mab Biger is definitely very relieved.

Keith the Rong Andnathan of Bloomberg Intelligence says shareholders elected all of Disney's choices for the board. Disney is the best performing stock in the Dow Jones Industrial Average this year.

It's up almost thirty two percent.

Nathan another media news Bloomberg News has learned Paramount Global, the parent of CBS and MTV, is getting closer to a deal to merge with independent producer David Ellison's sky Dance Media. Hears a Paramount have declined for years, reflecting the company's loss of TV viewers to other forms of entertainment and its costly efforts to develop a streaming service.

We're keeping an eye on Apple, Karen. The tech giant is exploring a move into personal robotics. Source to say Apple engineers are looking for their next big thing after canceling a major electric vehicle project.

In February, Bloomberg's Mark German broke the story.

This is very nascent, very early. Would be a home robot that can follow you around. It would navigate autonomously like the self driving car Apple was working on. It would have a focus on video conferencing, and there's even been discussion internally. This is a pie in the sky idea. The eventual peak of robotics could be the device being able to do the dishes, clean the dishes in your sink, on your.

Behalf, and blue brigs.

Mark German says Apple's advertising for robotics related roles on its website, indicating that it's trying to expand teams working on the project.

He Nathan, we have news out of the executive suite this morning. Carlisle Group chief executive Harvey Schwartz was awarded a one hundred and eighty seven million dollar pay package in his first year at the private equity firm. The former Goldman Sachs president has been tasked with steadying Carlisle for growth and bolstering its stock price, which is lagged behind its biggest publicly traded rivals. And it's time now for a look at some of the other stories making

Michael, good morning, Good morning Karen.

The rescuers are searching for survivors a day after Taiwan's strongest earthquake in a quarter century. Damage buildings, caused multiple rock slides and killed at least nine people. More than a thousand people were injured in the quake. Meanwhile, the White House says it is in touch with officials in Taiwan and are ready to help in whatever way is required. Several days of torrential rain soaked the Tri state area. Southern New Jersey. Residents are worried about flooding, while others

It's not the easiest conditions in the world, that's for sure. You know, we've were working out in the rain all day.

Cold, you know, chilly, muggy.

Other parts of New Jersey had downed trees and power lines. New York Mayor Eric Adams and the NYPD released crime statistics for the first quarter of this year. According to Adams, there has been more than a twenty three percent drop and overall crime in the subway system from March of twenty twenty four to the same time last year. Adams reference to the moment earlier this week when he and officers were down in the subway system.

People were walking through the gate or attempting to walk through the gates so frequently, and one guy.

Told us what is transit is free, has been free for weeks.

No one was taking the initiative of saying this is the expected behavior on our system. We're now taking that initiative.

Adam's also highlighted the one thousand additional uniformed officers into the subway system each day. Foreign ministers, including Secretary of State Anthony Blanklin, gathered in Brussels to mark seventy five years of NATO.

Let us together protect all we built in seventy five years under NATO's shield, and I'm sure that remains strong to keep building for the next seventy five years and well beyond that.

It was founded in nineteen forty nine as collective protection against aggression from the Soviet Union. Global News twenty four hours a day and whenever you want it with the Bloomberg News. Now. I'm Michael Barr in this is Bloomberg Heron.

All right, Michael barr thank you. Time now for the Bloomberg Sports Update with John Stashauer.

John, good morning, Good morning, Karen.

Rangers and Devils at the Garden. When they met last month in Newark, there was an illegal hit by the Rangers rookie and forcer, and Matt Rempy got suspended for it. The Devils felt they didn't have a chance for adequate revenge. So here's what took place. A second after the opening face off, the.

Gloves are dropped. We've got a line brawl Jimmy Feci and it looks like Curtis Lazaar, so I have to set a redline. Meanwhile, Rempy and McDermott trump the gloves outside the circle.

Goutrow has picked.

Up Kevin Ball, Jacob Truba has picked up Chris Tierney, and back of the Rangerson, you've got KeAndre Miller and Sean Marito.

He has been radied with the blow by blow. It was the scene straight out of the movie Slap Shot. The main event was a rempy against the Devil's Curtis McDermott. They squared off for about ninety seconds, ten fighting penalties, eight game misconducts, and then they played hockey and the Rangers won four to three on a Chris Crader goal with five minutes left. Nets beat the Pacers one, fifteen, one eleven in Boston, Celtics sixtieth winner thirty three and three.

They went six to one. Four of the wins were nail biers.

They ended the trip beating the Diamondbacks six to five and eleven and eight's two run homers for Aaron Judge and Alex Verdugo. First of the year for Judge versus a Yankee for Verdugo Mets and Tigers. Another rain out, at least this time. They made the call early on doubleheaded this afternoon at City Field and the Dodgers five to four window of the Giants, a long home run for Joeyotani is first with his new team his old team.

Right, John, thank you. SNP and Down futures at a quarter percent this morning, Nasdaq futures at fourteen of up percent, and the ten year Treasury yield four point three five percent.

Coast to coast on Bloomberg Radio, nationwide on Sirius XM, and around the world on Bloomberg dot Com and the Bloomberg Business app. This is Bloomberg Daybreak. Good morning.

I'm Nathan Hager, waiting on what could be a tough call for President Biden and Israeli Prime Minister Benjamin Netanyahu. The two leaders are set to speak by phone today, just three days after the deadly strike on World Central kitchen workers in Gaza that prompted some of the toughest words yet from the President over Israel's conduct of its war with Hummas. For the latest were joined by Bloomberg

Yeah.

I think it's the latest blow in a very very strained relationship, particularly between these two leaders. And you know, we've heard for weeks the White House and President Biden himself calling for a different approach, particularly with so many people huddled in the southern Gaza city of Rafa now in Israel, saying it will continue to go forward with

And so.

The latest strike has drawn a lot of criticisms, but it hasn't fundamentally changed what's happening on the back side of the relationship.

Now.

That is the real question, isn't it, Bill, Because we have seen this sort of growing divide between the rhetoric that we're hearing from the president and the policy still continuing for US support. But President Biden, as you say, is really starting to feel pressure even from within his own party, some powerful senators saying that the US should use its leverage when it comes to weapons to try to go to Israel in a different direction.

Absolutely, there's a lot of political pressure on the president from both sides really on this now, but particularly in his party. You have young voters who are really mobilized by this issue, by the war, who are much more likely to have some sympathy for the Palestinian cause here and many of those voters are in some key swing states that the president will have to win if he

Now.

Bill, of course, you're based in Singapore, so not too far in relative terms from what's happening in Taiwan after the deadly earthquake there. Can you get us caught up on the recovery.

Sure.

We just had an update from the emergency personnel running the rescue operations. They've raised the death toll so far from this quake to ten people. It's the worst quake that Taiwan has suffered in about twenty five years, but it does seem like a lot it could have been much worse if not for a lot of building code

So far.

The economy seems to be getting back on track. You heard from TSMC, one of the world's most important semiconductor chip producers, that they are getting their operations back online. We do expect to hear at some point an impact on terms of their deliveries and sales, but that will be pretty limited given how quickly they are able to get these factories going again.

Okay, Bill, thanks for this.

As always, Bill Ferries, their senior editor for Bloomberg News, joining us this morning from Singapore. This is Bloomberg day Break Today, your morning brief on the stories making news from Wall Street to Washington and beyond.

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