Bloomberg Audio Studios, Podcasts, Radio News.
Good morning, I'm Nathan Hager and I'm John Tucker. Here are these stories we're following today.
John, we begin with the latest on the Israel Hamas war. Israeli Prime Minister Benjamin Netanyah, who says his country will fight even without US help. He says it must continue its offensive against Hamas in the southern Gaza city of Rafa. Ntayah, who discussed a potential invasion in an interview on Doctor Phil Primetime on Merritt Street Media.
In the Holocaust, we stood alone, but we were defenseless, and today, if Israel has to stand alone, we'll stand alone.
Benjamin Netanyahu's comments follow President Biden's warning that he will pause additional shipments of offensive weapons to Israel if it launches an invasion. Netanyah, who says Israel will do its utmost to make sure civilians leave Rafa, where more than a million people are sheltering, before any attack.
This morning, Nathan, we're learning the protesters at Harvard are vowing to continue to encampment at Harvard Yard. Talks with the school administration failed. The protesters demanding Harvard University disclosed and divests from companies linked to Israel, or they'll stay in their tents and continue and encampment in Harvard Yard. That's according to an instagram pulls from the group Harvard
Out of Occupying Palestine. They posted that the interim president Alan Garber rejected that proposal and exchange for taking down their encampment. Garver this week Warm protesters they needed to end their encampment or face consequences, including suspension.
Was Israel continues to consider a Rafa invasion. John Whitehouse National Security spokesman John Kirby says the Biden administration shares Israel's goal of eradicating Hamas, but he says quote smashing into Rafa would not advance Israel's aim. Kirby reiterated the US as pausing but has not yet canceled a shipment of about thirty five hundred bombs. Carmeil Arbitt with the Atlantic Council tells Bloomberg, Israel thinks the administrations pauses having serious diplomatic ramifications.
Israel and its supporters have been very quick to point out that not only is this emboldening Hamas in the context of negotiations where Israel has tried to use RAFA as a leveraging tool to push Hamas closer to israel Ces fire position. But it also sends a message to Hezbola and to Iran that there is a wedge between the United States and Israel.
Karmiel Arbid of the Atlantic Council adds, this is the highest friction point between the two countries since President Biden took office. You can hear more of her thoughts on the Bloomberg Balance of Power podcast. You can find that on Apple, Spotify or manywhere else you get your podcasts.
And meanwhile at Washington, Bloomberg News has learned President Biden is going to unveil tariffs against China as soon as next Tuesday, marketing one of the administration's biggest moves against Chinese trade. At Bloomberg, Stephen angel Is in Hong Kong. He says the tariffs will target three key industries.
These new tariffs would be very targeted at the three key green industries that She Jinping has essentially earmarked as priorities for investment, the new three as he called it at the National People's Congress in March, and that is electric vehicles, batteries.
And solar Bloomber Steven Angels says Biden's plans are a contrast to Donald Trump's pledge to levey his sixty percent tax on all Chinese imports if he wins November's election.
As for former President Trump, john his hush money trial continues in Manhattan, and Stormy Daniels has wrapped up her testimony recounting the affairs she says she had with the former president. The adult film actress was grilled by one of Trump's lawyers who aimed to portray her as an extortionist and a liar. Brown University professor Wendy Schiller says it's not clear how her testimony could shift the jury, but she thinks the trial will affect the twenty twenty four election.
Trump has been brilliant in getting both fundraising from his donors but also the RNC to pay a lot of his bills, and that means they can't fund things like organize and get out the vote, help their county chairs and help Senate candidates in swing states, and those two kinds of campaigns are going to be crucial to either side's victory in November.
Wendy Scheller, Brown University says Trump continues to critique the charges against him. He's calling the judge in the hush money trial a disgrace after he refused to throw out the case for a second time.
Attorning to Markets Now, stocks did rally on Earning's optimism. We also had to inflation data applications for US unemployment benefits coming in higher than expended yesterday. This comes ahead of next week's key CPI reading. Sarah House, senior US economists with Wells Fargo, says a hotter pread likely to keep rates higher for longer.
Looking very hard at court at the core, just given that you have had three months in a row of upside surprises, and we really need to see the core begin to downshift if you are going to keep even the potential of even a September cut.
Sarah House with Wells Fargo telling Bloomberg she can't completely rule out a pial rate hike this year, but believes jpwell set the bar very high for any hikes in his latest pressure.
Well In Europe, John the UK has officially exited recession after its strongest quarter of growth in nearly three years. GDP expanded by six tenths of one percent in the first quarter, beating all estimates. Elizabeth Martin's senior economist at HSBC, says it's worth keeping the figure in perspective.
My slight worry about it is that some of this recovery was based on expectations towards the end of last year. The interest rates were kind of come down quite sharply, and the market has reprised away from that, and the risks, I guess have kind of grown, So it becomes a bit circular. The stronger the economy, the stronger employment and wages and inflation, and the less able the Bank of England is to deliver some of those.
Cuts, and HSBC's Elizabeth martinads next year's GDP forecast for the UK is still set to be the worst in the G seven.
And in tech, Apple's set to deliver some of its upcoming artificial intelligence features this year via data centers equipped with its own AI capabilities. This part of his sweeping effort to infuse its devices with AI capabilities, but also mark Sample's much anticipated push into generative artificial intelligence, the
technology behind chat, GPT and other popular tools. The companies playing ketchup with big tech rivals in the area, but he is pois to lay out an ambitious AI strategy at its worldwide Developers conference that is sent for June tenth.
As for staffing strategies in corporate America, John Pershing Square founder Bill Ackman was reportedly criticized for his attacks on diversity, equity and inclusion during a closed door panel discussion at the Milken Conference in Los Angeles. Ackman had previously labeled DEI as inherently racist and illegal. About forty people, including some of Wall Street's most senior executives of color, confronted
him about these views. In a statement afterward, Acman said he's written thousands of words about his quote nuanced views on this important topic. He asked people to read them to fully understand his perspective.
Yeah.
That brings us to five eight of Wall Street Time down for a look at some of the other stories making news in New York and around the world over that which joined by Bloomberg's Michael Barr Michael, good morning.
Good morning John. The man who attacked three New York City police officers with a machete on New Year's Eve in twenty twenty two, was sentenced yesterday. Prosecutors say Trevor Bickford was sentenced to twenty seven years in prison for ambushing the NYPD officers in the name of jihad and Times Square. The officers who were attacked in the head were seriously injured. Bickford pleaded guilty to attempted murder and
assault on January eleventh. For the attack. Authorities say he traveled from his home in Maine to New York City to, in his words, wage jihad and kill as many targets as possible. Severe weather he hit for a fourth straight overnight in much of the South. Storms ravage parts of Middle Tennessee. A woman was killed and over one hundred homes damaged in Moray County, south of Nashville. Governor Bill lead tour the aftermath of an EF three tornado that
tour through Columbia. He says, homes, we're devastated.
It's heartbreaking.
He realized that you don't know what it feels like to be that family, but you know that it must be awful.
Since Monday, there have been nearly one hundred reported or confirmed tornadoes across eighteen states. The NYPD says one woman is dead and another is in critical condition after they were struck by a vehicle in Bushwick, Brooklyn. It happened after five pm at the intersection of Eldert Street and Knickerbocker Avenue. The two victims were said to be a seventy one year old mother who died and her forty
four year old daughter. Police say the vehicle, a blue Mazda, sped through the intersection with police behind it when the driver crashed into a van and the victims. The driver the vehicle with Massachusetts plates took off on foot and it's still on the loose. The Biden administration wants hospitals to meet minimum cyber security standards after a single hack exposed the data of one hundred million Americans, and Newburger, Deputy National Security Advisor for Cyber and Emerging Technology, we.
Launched a platform where countries can share indicators, a compromise, can actually collaborate to say, here's what we're seeing in a hospital.
Has anybody else seen this?
And the goal in all.
Of this is to make it riskier, costlier, and harder for attackers.
Newburger spoke at the Bloomberg Tech Summit in San Francisco yesterday. The announcement follows Ascension as the latest healthcare system to have a cyber security problem. Global news twenty four hours a day and whenever you want it with the Bloomberg News. Now, I'm Michael Barr, and this is Bloomberg.
John, Michael, thank you, and that brings us to five ten of time down for the Bloomberg Sports Update.
Man for that.
Good morning, John Stashower.
Good morning, John Tucker.
To win the Stanley Cup, you need to win sixteen playoff games. The Rangers are almost halfway there and they've yet to lose, now seven to zero, with the last two wins both coming in overtime. Game three at Carolina, the Hurricanes led, then the Rangers led, Kanes scored late in regulation to tie. It was decided early in ot Let's sidle up for a year, sends it in Brown. The boards had gone Miss Tyrol long played the time.
Yes, Yes.
The Rangers with it in over time and lead the series three games today w EPN.
They won three too.
By the way, it was our Timmy Peneren scoring the game winning goal of brilliant tipping through his legs at a minute forty three into sudden death. Earlier Ranger goals by Chris Cryder shorthanded lexis left Frontier Rangers go for the sweep tomorrow night.
Good night to the team from Dallas. The Stars, who blew a three.
Goal lead in Game one nearly blew a four goal lead in Game two with the hell Non beat Colorado five to three. The MAVs won at Oklahoma City one nineteen one to ten. That series also tied to one, and so is the Cavs Celtics series. Cleveland lost the opener by twenty five one last night in Boston by twenty four, So it's acquiring og Onanobi and a Trey of Toronto. The Knicks record with him in the lineup
is twenty six and five. He won't play tonight Game three in Indiana, out with a strain hamstring.
Not known if or when he'll return. Nicks look to go up three to nothing in the series.
The Phoenix Suns fired coach Frank Vogel after one season. Widely reported the favorite to replace him as Mike Budenholzer. He won a championship with Milwaukee the Stadium Astros at two first hitting homers off Marcus Stroman beat the Yankees four to three.
Anthony Volpin Aaron Judge homer to.
Defeat Quail Hollow Golf and Charlotte's Andrews Shopley shot seven under leads by three at the LPGA Clift in New Jersey. Nelly Corda looking to make history by winning six tournaments in a row, which she's tied for eighteen six shots off the pace.
John Stashedward Bloomberg's Boots Johnaitham.
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. If we have to stand alone, we will stand alone. That was the initial response from Israeli Prime Minister Benjamin Netanyahu to President Biden's decision to withhold some bomb shipments ahead of a possible attack on Rafa. But the Israeli Prime Minister may be trying to smooth things over a bit. In an interview with TV's Doctor Film and for more. We're joined now by Bloomberg's Israel Bureau chief Ethan Bronner in Tel Aviv. Ethan, good morning.
So in this interview, the Prime Minister said he's had disagreements with President Biden before and they've overcome them before. How could the is the US and Israel overcome this current disagreement.
Good morning, Nathan Well. I suppose the answer would be to somehow split the difference. That is to say, if the Americans are especially concerned about civilian casualties, if Israel goes into Rafa. So in theory, if Israel were to really move people out in some systematic fashion and then have a more targeted set of attacks at the hamas militants underground there and the number of people killed is low, I mean, the number of civilians killed is low. In theory,
that might be some form of reconciliation, right. I mean, I think that the biggest problem for Israel is that it's got a two front ward both in Gaza and then in the North, and if it doesn't have US bombs and weapons, it's going to be in a little bit of trouble. So the pressure has some meaning.
Are we seeing any evidence at this point that Israel could be headed that way when it comes to getting civilians out of harm's way taking a more targeted approach.
You know, they've been saying some version of this on and off for many many weeks. I think we really don't know. One of the difficulties right now is that we are all so at some kind of a hinge point in these negotiations mediated by the US at Katar in Egypt with Hamas for an exchange and a ceasefire. So if that comes about, and I'm not especially optimistic, but if it comes about, then there will be some weeks without fighting, and then you never know where that goes, right.
I mean, that's a little bit why hardliners in this country don't want there to be too much of a ceasefire, but the government says it's willing if they can get hostages back, so I think there is some reason to think that. And what I'm saying also is that as Israel edges toward Rafa, part of it is to pressure these negotiations.
So it's kind of a.
Double game in reality happening but also sending a message. It's difficult to really know what the ultimate attack in Rafack is going to be. I want to add one other thing, which is that there are reports that they've been talking about and waiting so long that the so called for battalions underground in Rafa may now be down to two or three with Hummas fighters having moved back to the center of the Gaza strip to Han Yunis
and Deir Balach. You know, I don't know that, but it is an interesting problem if true.
Wellly about thirty seconds left Ethan. We've heard a lot about what hardliners are looking for when it comes to an invasion of Rafa. What are these rarely people looking for right now?
I would say that the Israeli people, by a slight majority, would rather see a hostage deal, and they do generally think it's important to destroy Hamas, but they're really eager to get back the one hundred plus people, many of them dead, about half probably dead, half living, half dead, that are still in the hands of Hamas. That is their top priority right now.
This is Bloomberg Daybreak Today, your morning brief on the stories making news from Wall Street to Washington and beyond.
Look for us on your podcast feed by six am Eastern each morning, on Apples, Spotify, and anywhere else you get your podcasts.
You can also listen live each morning starting at five am Wall Street time on Bloomberg eleven three to zero in New York, Bloomberg ninety nine one in Washington, Bloomberg one oh sixty one in Boston and Bloomberg nine sixty in San Francisco.
Our flagship New York station is also available on your Amazon Alexa devices. Just say Alexa Play Bloomberg eleven thirty plus.
Listen coast to coast on the Bloomberg Business app, Sirius xmb iHeartRadio app, and on Bloomberg dot Com.
I'm Nathan Hager and.
I'm John Tucker. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg day Break