Israel Takes Control of Rafah Border Crossing; UBS Shares Surge

Bloomberg Audio Studios, Podcasts, Radio News. Good morning, I'm Nathan 0:00:12.160 --> 0:00:15.120 Hager and I'm Karen Moscow. Here are the stories we're 0:00:15.160 --> 0:00:15.960 following today. 0:00:16.160 --> 0:00:19.520 We begin with major developments in the Middle East. Israeli 0:00:19.560 --> 0:00:22.680 troops have taken control of the Rafa border crossing area 0:00:23.040 --> 0:00:26.160 in Gaza. It is the first time Israel's army has 0:00:26.160 --> 0:00:28.560 moved into the area since the war with Hamas began 0:00:28.680 --> 0:00:32.280 last October. We get the latest with Bloomberg's Rosalind of Athisen. 0:00:32.640 --> 0:00:35.839 That is the conduit between Egypt and Gaza and has 0:00:35.880 --> 0:00:39.040 been a major port of operation for aid to go 0:00:39.120 --> 0:00:42.120 into Gaza in recent months. It's not the only crossing 0:00:42.680 --> 0:00:45.320 into Gaza, but there's only a few, and they've been 0:00:45.320 --> 0:00:48.720 pretty troubled throughout, and so it's really going to raise 0:00:48.800 --> 0:00:51.840 questions about the flow of aid into Gaza. It also 0:00:51.880 --> 0:00:54.800 points to the fact that Israel is very determined to 0:00:54.840 --> 0:00:58.080 push ahead with some sort of offensive in Rafa, whether 0:00:58.160 --> 0:01:01.920 that's within weeks or days or whatever. They're making preparations 0:01:02.000 --> 0:01:02.400 for it. 0:01:02.840 --> 0:01:05.520 And that's Bloomberg's Roslyn Matheson reporting. 0:01:05.959 --> 0:01:09.880 Well dungons build in Gaza. Nathan College campuses across the 0:01:09.920 --> 0:01:14.560 country continue to grapple with pro Palestinian protesters. Columbia University 0:01:14.640 --> 0:01:17.800 called off its main commencement ceremony yesterday, less than a 0:01:17.840 --> 0:01:21.640 week after calling in police on demonstrators. Harvard and MIT 0:01:21.680 --> 0:01:24.880 are warning students to leave their encampments or face suspension, 0:01:25.200 --> 0:01:28.880 and Citadel founder in Harvard grad Ken Griffin is delivering 0:01:28.880 --> 0:01:29.880 a warning of his own. 0:01:30.120 --> 0:01:32.160 As a donor at Harvard, I've made it really clear 0:01:32.840 --> 0:01:36.759 I am going to curtail my charitable giving until Harvard 0:01:36.840 --> 0:01:41.479 recommits itself to meritocracy in a very public and profound way. 0:01:41.840 --> 0:01:44.600 Citadel's Ken Griffin says the protests are the product of 0:01:44.600 --> 0:01:47.280 a failed education system. He spoke at the Milk and 0:01:47.319 --> 0:01:50.320 Global Institute conference in Beverly Hills and Karen. 0:01:50.360 --> 0:01:53.520 President Biden plans to speak as well. He's expected to 0:01:53.560 --> 0:01:57.320 denounce the growing number of anti Semitic incidents across the 0:01:57.400 --> 0:02:00.720 country on college campuses. We get that sorry from Bloomberg 0:02:00.760 --> 0:02:02.360 Steve Potisk in Washington. 0:02:02.720 --> 0:02:06.000 During his speech at an annual Holocaust commemoration at the 0:02:06.120 --> 0:02:10.040 US Capital, the President is expected to criticize anti Jewish 0:02:10.120 --> 0:02:14.680 rhetoric athet protests as unacceptable. He will also urge Americans 0:02:14.720 --> 0:02:18.079 to speak out against anti Semitism and other forms of hate. 0:02:18.280 --> 0:02:21.480 A White House official says Biden will also recount the 0:02:21.520 --> 0:02:25.840 atrocities of Hamasa's October assault on Israel, has the deadliest 0:02:25.880 --> 0:02:29.400 attack on Jews since the Nazi campaign to exterminate the 0:02:29.480 --> 0:02:32.359 Jews of Europe, and say too many people are downplaying 0:02:32.400 --> 0:02:36.560 both events. The speech highlights the political dilemma facing Biden 0:02:36.600 --> 0:02:39.320 at the seven month mark of Israel's war in Gaza, 0:02:39.400 --> 0:02:43.000 which has exposed divisions within the Democratic Party that could 0:02:43.120 --> 0:02:46.799 hurt his chances of winning the November election. In Washington, 0:02:46.919 --> 0:02:49.120 Steve Potisk Bloomberg Radio, all. 0:02:49.080 --> 0:02:51.200 Right, Steve, thank you, now to the latest on the 0:02:51.320 --> 0:02:54.200 criminal hush money trial of Donald Trump. The former president 0:02:54.240 --> 0:02:56.880 returns to court today facing a threat of jail time 0:02:56.960 --> 0:03:00.680 for additional gag order violations. Has prosecuted gear up to 0:03:00.800 --> 0:03:03.280 summoned big name of witnesses in the final weeks of 0:03:03.320 --> 0:03:07.280 the case. Bloomberg The Law host June Grosso explains. 0:03:07.320 --> 0:03:10.200 For the second time, Judge One Mershawn found Trump in 0:03:10.320 --> 0:03:14.200 contempt of court for violating a gag order. He fined 0:03:14.240 --> 0:03:17.280 Trump one thousand dollars and warned he could jail him 0:03:17.320 --> 0:03:21.480 for further violations. Of an order intended to protect witnesses 0:03:21.560 --> 0:03:25.160 as well as jurors. The judge said he understood the 0:03:25.200 --> 0:03:29.920 significance of jailing a former president and current candidate, especially 0:03:29.960 --> 0:03:34.200 since putting Trump behind bars would raise serious logistical issues. 0:03:34.400 --> 0:03:36.680 But at the end of the day, quote, I have 0:03:36.760 --> 0:03:39.080 a job to do, and part of that job is 0:03:39.120 --> 0:03:42.160 to protect the dignity of the system. In New York, 0:03:42.240 --> 0:03:44.160 June Grosso Bloomberg Radio. 0:03:44.120 --> 0:03:47.560 And Bloomberg's June Grasso says that Trump has repeatedly attacked 0:03:47.560 --> 0:03:50.760 the gag order and claims it unfairly is restricting his 0:03:50.920 --> 0:03:51.960 free speech rights. 0:03:52.240 --> 0:03:55.200 And in other news this morning, Karen, it's another setback 0:03:55.320 --> 0:03:59.040 for Boeing, this time in space. The first launch of 0:03:59.080 --> 0:04:02.680 the playmaker's star Liner space capsule with astronauts on board 0:04:03.080 --> 0:04:05.720 has been delayed. Officials found something wrong with the valve 0:04:05.800 --> 0:04:07.840 on the Atlas five rocket that was supposed to send 0:04:07.840 --> 0:04:10.800 that spacecraft into orbit. Now investigators will have to decide 0:04:10.800 --> 0:04:13.880 if that valve needs to be replaced. The next backup 0:04:13.960 --> 0:04:17.240 dates for liftoff are today, this Friday or Saturday. 0:04:17.640 --> 0:04:19.679 When we turn to the markets, now, Nathan it shares 0:04:19.680 --> 0:04:22.480 a ubs are up more than eight percent, overseas, the 0:04:22.520 --> 0:04:25.839 Swiss bank has returned to profit after two quarters of losses. 0:04:26.160 --> 0:04:29.000 UBS reported first quarter net income of almost one point 0:04:29.040 --> 0:04:33.200 eight billion dollars, three times what analysts were expecting. CEO 0:04:33.279 --> 0:04:37.000 Sergio or Maadi told Bloomberg the absorption of its former 0:04:37.160 --> 0:04:38.480 rival is going well. 0:04:38.960 --> 0:04:42.480 As we integrate a new colleagues from Credit Switch on 0:04:42.520 --> 0:04:46.359 our platform, we start to see the pipeline developing we 0:04:46.440 --> 0:04:49.920 are able to execute. So it's very much aligned with 0:04:49.960 --> 0:04:55.480 our expectations of improving the mix between our markets business 0:04:55.560 --> 0:04:57.520 and our banking business and the investment bank. 0:04:57.920 --> 0:05:00.760 CEO Sergio Ormadi says the bank thank is targeting the 0:05:00.800 --> 0:05:03.880 completion of the legal merger with Credit SUEEE by the 0:05:03.960 --> 0:05:06.040 end of the month. And get the full conversation on 0:05:06.080 --> 0:05:09.719 the Bloomberg Talks podcast feed, available on Apple, Spotify and 0:05:09.760 --> 0:05:11.560 anywhere else you get your podcasts. 0:05:11.640 --> 0:05:13.360 And those aren't the only earnings we're seeing out of 0:05:13.360 --> 0:05:15.839 Europe this morning, Karen, we're watching shares of Unit Credit. 0:05:15.920 --> 0:05:19.160 They are up more than three percent. Profit at Italy's 0:05:19.240 --> 0:05:21.880 second biggest bank, top analyst estamates is higher fees and 0:05:21.960 --> 0:05:25.680 lending income boosted revenue. On the flip side, BP is 0:05:25.800 --> 0:05:29.120 down about a half percent. First quarter profit and cash 0:05:29.160 --> 0:05:31.599 flow at the oil major fell by more than expected, 0:05:31.680 --> 0:05:34.920 and net debt increased BP, though did maintain the pace 0:05:34.920 --> 0:05:36.800 of its share buybacks well. 0:05:36.839 --> 0:05:39.839 Here in the US, Nathan Shares appall and Teer Technologies 0:05:39.920 --> 0:05:43.320 are down more than nine percent in early trading. Investors. 0:05:43.520 --> 0:05:46.719 We're unimpressed by the company's outlook for annual sales, and 0:05:46.720 --> 0:05:48.800 we get this story from Bloomberg's Charlie Pellett. 0:05:49.320 --> 0:05:52.479 Well stock has already tripled in the past year. The 0:05:52.520 --> 0:05:56.440 company did nudge its annual revenue forecasts slightly higher, to 0:05:56.560 --> 0:05:58.960 a range of two point sixty eight to two point 0:05:59.000 --> 0:06:02.560 sixty nine billion. Analysts had expected two point sixty eight 0:06:02.600 --> 0:06:06.600 billion on average. Palenteer is one of the marquee stalks 0:06:06.640 --> 0:06:10.320 of the tech world's current AI frenzy, with new products 0:06:10.360 --> 0:06:13.960 helping to catapult it more than two hundred percent over 0:06:13.960 --> 0:06:18.080 the last twelve months. Co Founded by Peter Thiel, Palenteer 0:06:18.160 --> 0:06:22.640 developed software and analysis tools for companies and government agencies 0:06:22.920 --> 0:06:27.840 allied with American interests in New York. Charlie Pellett Bloomberg. 0:06:27.400 --> 0:06:30.960 Radio, All right, Charlie, thank you meantime. Tesla founder Elon 0:06:31.120 --> 0:06:34.120 Musk is sitting down with Michael Milkin at the Milkin 0:06:34.240 --> 0:06:37.039 Conference in Los Angeles, talking about a range of issues 0:06:37.080 --> 0:06:39.839 from immigration to free speech, as well as the threats 0:06:39.880 --> 0:06:42.840 posted to humanity by artificial intelligence. 0:06:42.920 --> 0:06:44.239 We just, I guess, don't want to AI. 0:06:44.360 --> 0:06:45.039 That is brutal. 0:06:45.360 --> 0:06:51.000 I think biological intelligence can serve as a backstop, as 0:06:51.040 --> 0:06:55.360 a buffer of intelligence, but almost all, as a percentage, 0:06:55.400 --> 0:06:58.800 almost all intelligence will be digital. 0:06:59.440 --> 0:07:03.000 It's like, what role will it be for us? 0:07:03.360 --> 0:07:03.800 I don't know. 0:07:04.440 --> 0:07:07.560 Elon Musk, also the founder of SpaceX, added that AI 0:07:07.680 --> 0:07:09.640 still has a long way to go before it can 0:07:09.640 --> 0:07:13.240 become a viable tool in the space exploration industry. There 0:07:13.280 --> 0:07:16.680 was no mention of Tesla, one of Musk's other companies, 0:07:16.840 --> 0:07:19.120 during that conversation at Milkin. 0:07:22.440 --> 0:07:23.840 And it is time now for a look at some 0:07:23.840 --> 0:07:25.760 of the other stories making news in New York and 0:07:25.800 --> 0:07:28.280 around the world. For that, we're joined by Bloomberg's Michael 0:07:28.320 --> 0:07:30.440 Barr Michael, Good Morning, Good morning Karen. 0:07:30.600 --> 0:07:33.840 After a nearly two hour meeting with House Speaker Minke Johnson, 0:07:34.160 --> 0:07:37.800 Republican Congresswoman Marjorie Taylor Green says she plans to meet 0:07:37.800 --> 0:07:40.560 with him again today. Green will be joined by a 0:07:40.600 --> 0:07:44.520 fellow Republican representative Thomas Massey. The two have threatened to 0:07:44.560 --> 0:07:46.840 house the speaker, but the motion of a kid hasn't 0:07:46.840 --> 0:07:50.480 gained much support among their colleagues. Green, speaking to reporters 0:07:50.520 --> 0:07:51.920 after yesterday's. 0:07:51.400 --> 0:07:54.720 Meeting, I just had a long discussion with the Speaker 0:07:54.760 --> 0:07:59.120 in his office about ways to move forward for a 0:07:59.160 --> 0:08:02.119 Republican controlled House of Representatives. 0:08:02.400 --> 0:08:05.440 When pressed on Weather, she still plans to move forward 0:08:05.440 --> 0:08:08.680 with her motion to vacate Representative Greens, and we'll have 0:08:08.840 --> 0:08:13.160 more information after today. Speaker Johnson described Monday's meeting as 0:08:13.240 --> 0:08:18.040 lengthy and constructive. An American soldiers behind bars in Russia. 0:08:18.160 --> 0:08:22.360 Local media reports Army staff sergeant Gordon Black is accused 0:08:22.360 --> 0:08:26.080 of stealing and beating a woman. Black may have been 0:08:26.200 --> 0:08:29.280 visiting a woman he met while stationed in South Korea. 0:08:29.720 --> 0:08:33.920 Black's more their melody. Jones describes the couple's relationship as 0:08:34.040 --> 0:08:37.640 volatile and says she was worried about her son visiting Russia. 0:08:38.120 --> 0:08:42.480 I'm hoping he's not being tortured or her It's just 0:08:42.600 --> 0:08:46.640 hard being a mom and being in that situation and 0:08:46.720 --> 0:08:50.520 not knowing, not being the touching, you know, hugging, telling 0:08:50.600 --> 0:08:51.520 me it'll be okay. 0:08:52.280 --> 0:08:55.040 Sergeant Black is the latest and a string of Americans 0:08:55.040 --> 0:08:59.040 detained in Russia, joining businessman Paul Wheeland held since twenty 0:08:59.120 --> 0:09:03.040 eighteen and Wall Street Journal reporter Evan Gerskovich, held since 0:09:03.120 --> 0:09:07.160 last year. Scores of pro Palestinian protesters were blocked by 0:09:07.160 --> 0:09:10.400 the police from getting close to the MET Gala, one 0:09:10.440 --> 0:09:13.680 of the most exclusive annual events in New York City's calendar. 0:09:14.120 --> 0:09:18.000 The demonstrators were heading toward the venue, the Metropolitan Museum 0:09:18.040 --> 0:09:20.760 of Art on the Upper East Side, when they were 0:09:20.800 --> 0:09:25.080 intercepted by the NYPD. As for the met Gala itself, 0:09:25.400 --> 0:09:30.079 it featured a garden green tinted carpet and a list 0:09:30.200 --> 0:09:35.320 celebrities from film, fashion, music, sports, politics, and social media. 0:09:35.440 --> 0:09:39.840 This year's attendees included Jeff Bezos, Steve Schwartzman, Kim Kardashian, 0:09:39.880 --> 0:09:43.720 Serena Williams, and Matt Damon. One person who wasn't there 0:09:44.840 --> 0:09:51.400 the Sas Grammy winner Rihanna, who was said to have 0:09:51.480 --> 0:09:54.600 come down with the flu. Global News twenty four hours 0:09:54.640 --> 0:09:57.079 a day and whenever you wanted with Bloomberg News now 0:09:57.360 --> 0:09:59.040 Michael Barr and this is. 0:09:58.960 --> 0:10:01.439 Bloomberg, Karen, you know I could get sick just thinking 0:10:01.440 --> 0:10:04.360 of what to wear to the medgala, but you always 0:10:04.480 --> 0:10:06.960 nail at Michael Barr. All right, Mugel Barr, thank you. 0:10:11.760 --> 0:10:14.160 It's time now for the Bloomberg Sports Update, and here's 0:10:14.200 --> 0:10:15.040 John stash Hour. 0:10:15.160 --> 0:10:16.800 John, good morning, Good morning, Caaren. 0:10:16.880 --> 0:10:18.480 Like old times at the guard of the Knicks and 0:10:18.520 --> 0:10:21.640 the Indiana Pacers in the postseason, they met six times 0:10:21.640 --> 0:10:23.480 an eight year period in the nineteen nineties to two 0:10:23.520 --> 0:10:26.760 thousand and those were mostly close series, tight games, and 0:10:26.920 --> 0:10:31.040 this series opener not decided until the final minute one 0:10:31.080 --> 0:10:33.400 on one, with Nemhart backing his way in at the 0:10:33.440 --> 0:10:33.800 top of. 0:10:33.720 --> 0:10:36.080 The key shot locked down to six steven Shenzo. 0:10:35.880 --> 0:10:37.000 Seek three left side. 0:10:37.040 --> 0:10:39.559 That's good and the Knicks are on top by three. 0:10:39.840 --> 0:10:42.440 Quit thirty nine seconds to go, knocked to wait by 0:10:42.480 --> 0:10:47.040 heart stolen by McBride, taken by Ananobi triples towards midport. 0:10:47.280 --> 0:10:51.080 Game one goes to the Knicks one twenty one till one. 0:10:51.120 --> 0:10:56.120 Seventeenwapn Nicks led once again by Jalen Brunson forty three 0:10:56.160 --> 0:10:58.280 points twenty one on the fourth qorder. The list of 0:10:58.360 --> 0:11:01.679 players to have four concent of forty point playoff games 0:11:01.720 --> 0:11:05.120 is short. Michael Jordan, Jerry West, the former Nick Bernard 0:11:05.160 --> 0:11:08.600 King and now Brunson Devincenzo had that tie breaking three 0:11:08.640 --> 0:11:11.960 finished with twenty five points. Josh Hart, as usual, played 0:11:11.960 --> 0:11:14.920 the whole game twenty four points, thirteen rebounds, eight assists, 0:11:14.960 --> 0:11:16.719 three steals, so the Villanova. 0:11:16.240 --> 0:11:17.160 Guys led the way. 0:11:17.440 --> 0:11:20.480 Game two at MSG tomorrow Stateman win by Minnesota playing 0:11:20.480 --> 0:11:23.200 without starting center Rudy Gobert, and yet by halftime in 0:11:23.320 --> 0:11:26.960 Denver up by twenty six, they won by twenty six 0:11:27.000 --> 0:11:30.280 as both Anthony Edwards and Karl Anthony Town scored twenty seven. 0:11:30.440 --> 0:11:34.760 Timberwolves go home up to nothing on the defending NBA champions. 0:11:34.400 --> 0:11:35.200 They had the Cup playoffs. 0:11:35.200 --> 0:11:37.320 The Brewin scored three times at a seven minute span 0:11:37.360 --> 0:11:39.880 of the second period one Game one at Florida, five 0:11:39.920 --> 0:11:43.760 to one, five Boston goal scorers, including Brandon Carlow, who 0:11:43.880 --> 0:11:46.320 arrived at the rink just before face off. His son 0:11:46.440 --> 0:11:49.360 was born yesterday morning at the guarding tonight, Rangers and 0:11:49.480 --> 0:11:52.320 Hurricanes Game two. After getting swept over the weekend, Mets 0:11:52.320 --> 0:11:54.360 went to Saint Louis Blue a three nothing lead. The 0:11:54.400 --> 0:11:57.080 Brandon Neimo homer seventh Thenny Mets won four to three. 0:11:57.120 --> 0:11:59.160 Red Hot Phillies beat the Giants six to one the 0:11:59.200 --> 0:12:02.440 fields of one seventeen to the last, twenty fifth graight 0:12:02.480 --> 0:12:04.920 win for the Dodgers as Shoeyl Tany hit a Major 0:12:04.960 --> 0:12:06.040 League meeting eleventh. 0:12:06.040 --> 0:12:07.240 Homer John stashed. 0:12:07.320 --> 0:12:09.199 We're Bloomberg Sport Canon Nathan. 0:12:11.400 --> 0:12:15.800 Coast to coast on Bloomberg Radio, nationwide on Sirius XM, and. 0:12:15.800 --> 0:12:19.120 Around the world on Bloomberg dot Com and the Bloomberg 0:12:19.160 --> 0:12:19.839 Business app. 0:12:20.040 --> 0:12:24.199 This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. We 0:12:24.240 --> 0:12:26.320 want to get to the latest now from the Middle East. 0:12:26.360 --> 0:12:29.600 Israeli troops have taken control of the border crossing area 0:12:29.640 --> 0:12:32.160 in the southern Gaza city of Rafa. This comes a 0:12:32.240 --> 0:12:35.840 day after Israel's military tolt residence in the eastern part 0:12:36.160 --> 0:12:40.120 of that heavily populated city to leave immediately ahead of 0:12:40.120 --> 0:12:42.800 a possible attack. Joining us from Tel Aviv. Now is 0:12:42.800 --> 0:12:47.280 Bloomberg Israel Economy and Government reporter Galite Alstein Ghalite, Good morning. 0:12:47.280 --> 0:12:49.360 Thank you for being with us. Can you tell us 0:12:49.400 --> 0:12:54.440 the situation in Rafa now as far as we understand it, Yes, I. 0:12:54.360 --> 0:12:57.559 Am, good morning, Nathan. So, as you mentioned, the Israeli 0:12:57.679 --> 0:13:01.199 army has taken control of the Rafa border crossing. This 0:13:01.280 --> 0:13:03.800 is the Goden side of the crossing. It also has 0:13:03.800 --> 0:13:07.720 an Egyptian side, but obviously Israel is now centered on 0:13:07.760 --> 0:13:11.880 the Garden side of this crossing. We know that the 0:13:12.000 --> 0:13:16.679 Idea tells us this morning that this operation stemmed from 0:13:16.880 --> 0:13:21.520 intelligence and that this is a highly targeted, specific operation 0:13:22.040 --> 0:13:25.880 that is meant, as the Idea of says to the 0:13:25.960 --> 0:13:29.960 involves counter terrorism there, so that's what we're seeing on 0:13:30.040 --> 0:13:33.000 the ground now. The Israeli Army also says that the 0:13:33.160 --> 0:13:36.360 best majority of the people who are in the eastern 0:13:36.400 --> 0:13:39.800 parts of Rapha and we're asked to evacuate yesterday have 0:13:40.440 --> 0:13:43.280 in fact evacuated, and that is also what made this 0:13:43.360 --> 0:13:44.480 operation possible. 0:13:45.480 --> 0:13:47.880 So it sounds at this point as though it's falling 0:13:47.920 --> 0:13:51.640 short of the major operation that the US and many 0:13:51.679 --> 0:13:53.760 of Israel's allies have warned against. 0:13:55.480 --> 0:13:59.120 Yes, that is true. The songs that we're getting is 0:13:59.160 --> 0:14:03.120 that this is a very targeted operation. What happened several 0:14:03.200 --> 0:14:09.920 days ago is that Hamas militants fired bombarded Israeli forces 0:14:09.960 --> 0:14:12.720 from the area of the Rafa crossing. They were shooting 0:14:12.800 --> 0:14:16.640 toward the Klam Shalom crossing, which is on the border 0:14:16.679 --> 0:14:22.080 between Israel and Gaza, and after this incident, Israel said 0:14:22.080 --> 0:14:26.880 that it wants to retaliate, and based on the location 0:14:27.120 --> 0:14:31.080 from where the Hamasa tech attack took place, from near 0:14:31.120 --> 0:14:34.840 the Rafa crossing, and other intelligence that the IDEA gathered, 0:14:35.080 --> 0:14:39.480 they decided to move forward with this operation. As I mentioned, 0:14:39.520 --> 0:14:41.560 and as you mentioned, they say that this is a 0:14:41.640 --> 0:14:45.080 very specific targeted operation that is taking place there now, 0:14:45.360 --> 0:14:47.880 and we're not sure that this is part you know, 0:14:47.880 --> 0:14:50.560 it's hard to separate and distinguish the two, but this 0:14:50.640 --> 0:14:53.880 is not necessarily part of the all out Rafa operation 0:14:54.560 --> 0:14:57.440 Israel and the US and many others have been talking 0:14:57.480 --> 0:14:59.920 about and anticipating over the past several weeks. 0:15:00.480 --> 0:15:03.400 And of course this comes hours after Hamas said it 0:15:03.400 --> 0:15:07.880 had gotten behind the latest seasfire proposal, but Israel's war 0:15:08.000 --> 0:15:13.720 cabinet had rejected that latest proposal. What happened with the 0:15:13.760 --> 0:15:17.920 ceasefire negotiations? What was it that the Israeli war cabinet 0:15:17.960 --> 0:15:18.680 came out against? 0:15:20.320 --> 0:15:22.440 Right, So I have to say that the information on 0:15:22.480 --> 0:15:24.840 this is still, you know, flowing it as we speak, 0:15:24.880 --> 0:15:27.600 but as far as we can tell, there are two 0:15:27.760 --> 0:15:31.840 issues that I would say are sticking points in the 0:15:31.920 --> 0:15:35.200 proposal that Hamas said yes to and that Israel has 0:15:35.960 --> 0:15:40.120 rejected last night. The first is the number of hostages 0:15:40.200 --> 0:15:42.760 that will be released in the first stage of such 0:15:42.800 --> 0:15:47.240 a deal. Israel and the other mediators have been talking 0:15:47.400 --> 0:15:51.520 about thirty three Israeli hostages, live hostages that will be 0:15:51.560 --> 0:15:54.000 released at the first part of this deal, and as 0:15:54.000 --> 0:15:56.600 far as we can tell, what Hamas has said yes 0:15:56.640 --> 0:15:59.760 to is the release of thirty three thirty three hostages 0:16:00.200 --> 0:16:02.680 that we will be dead or live, and Israel does 0:16:02.720 --> 0:16:05.480 not want to accept that. And the second thing, which 0:16:05.520 --> 0:16:09.320 is maybe more of a principal issue, is the fact 0:16:09.360 --> 0:16:12.440 that after the first stage of the deal is finished 0:16:12.480 --> 0:16:14.800 and the deal moves on to its second stage that 0:16:14.920 --> 0:16:18.440 involves the release of Israeli soldiers were being held mosted 0:16:18.560 --> 0:16:22.880 by Hamas, that would involve something that is being referred 0:16:22.920 --> 0:16:27.240 to as a sustainable ceasefire. In other words, it's a 0:16:27.320 --> 0:16:30.560 permanent cease fire that is meant at least as far 0:16:30.600 --> 0:16:35.040 as Hamas is concerned, to stop Israel from going back 0:16:35.080 --> 0:16:39.600 to fighting after the deal the ceasefire deal is over, 0:16:39.960 --> 0:16:43.560 and that is something that Israel has been rejecting and 0:16:43.600 --> 0:16:46.640 that Hamas wants very much and that is a very 0:16:47.400 --> 0:16:50.280 major sticking point for the size now and from what 0:16:50.280 --> 0:16:53.240 we understand, maybe the biggest form of this PIM. 0:16:53.520 --> 0:16:56.400 This is Bloomberg day Break Today, your morning brief on 0:16:56.480 --> 0:16:59.960 the story's making news from Wall Street to Washington and beyond. 0:17:00.280 --> 0:17:03.080 Look for us on your podcast feed at six am 0:17:03.160 --> 0:17:06.800 Eastern each morning, on Apple, Spotify, and anywhere else you 0:17:06.880 --> 0:17:08.040 get your podcasts. 0:17:08.160 --> 0:17:10.840 You can also listen live each morning starting at five 0:17:10.920 --> 0:17:13.479 am Wall Street time, on Bloomberg eleven three to zero 0:17:13.560 --> 0:17:16.440 in New York, Bloomberg ninety nine to one in Washington, 0:17:16.520 --> 0:17:19.720 Bloomberg one oh sixty one in Boston, and Bloomberg ninety 0:17:19.720 --> 0:17:21.119 sixty in San Francisco. 0:17:21.520 --> 0:17:24.680 Our flagship New York station is also available on your 0:17:24.720 --> 0:17:30.159 Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty plus. 0:17:30.200 --> 0:17:33.639 Listen coast to coast on the Bloomberg Business app, SERIUSXM, 0:17:33.720 --> 0:17:37.320 the iHeartRadio app, and on Bloomberg dot Com. I'm Nathan 0:17:37.320 --> 0:17:38.920 Hager and I'm Karen Moscow. 0:17:39.119 --> 0:17:41.879 Join us again tomorrow morning for all the news you 0:17:42.000 --> 0:18:01.200 need to start your day right here on Bloomberg Daybreak