. ♪ thanks to avalara, we can calculate sales tax automatically.larahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh >> anglo american is entering talks with bhp after rejecting a third proposal, opening the door to what could be the biggest global mining deal in over a decade. martin ritchie joins us from shanghai to put it in perspective. it looks positive for bh p. >> that's right. the saga continues. we thought there would either be a deal or no deal yesterday but it turns out there is an extra week for the companies to talk. anglo american has agreed to talk to the first time with bhp who raise their also -- offer for the third time. that agreement to talk we think is important because it shows that they are willing to explore the possibility of a deal perhaps that valuation that bhp is now offering is enough to get them to discuss some of the terms. it does not mean ther

. ♪ avalara, you don't have to worry about things like changing tax rates or filing returns. know what's brilliant? boring. think about it. boring is the unsung catalyst for bold. what straps bold to a rocket and hurtles it into space? boring does. boring makes vacations happen, early retirements possible, and startups start up. because it's smart, dependable, and steady. all words you want from your bank. for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which is pretty un-boring if you think about it. katie: gamestop and amc seeing a turbocharged rally that started monday after roaring kitty, the man who started the meme stock revolution, posted for the first time in almost three years. joining us for his perspective on meme stocks and a lot else, alan is the prime time partner co-founder, the predecessor of what is now aipac's partners. i have to ask you about meme stocks. we have a more substantial discussion to get to. given we have many more market cycles, what you make of the likes of gamestop and amc? alan: you know, we have

. ♪ thanks to avalara, we can calculate sales tax automatically.larahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh paul: let's take a look at how we are tracking on some of these hong kong benchmarks at the moment. the hang seng index having a pretty good day considering the rather nothing burger statements from the fed earlier on. other markets looking less exuberant. the hang seng better by 2.3%. no trade in china today, public holiday there. the hang seng tech index having an outstanding day. china vaca stock better by 14% in the property index more broadly. just a shade less than 3% higher. china's top climate chief is warning the claimant fight will be too costly without chinese products. our chief north asia correspondent spoke with them. >> if the western countries continue to insist to decouple from the imports on china products for clean energy, it will cost the wor

when you automate sales tax with avalara, you don't have to worry about things like changing tax ratesexemption certificates or filing returns. avalarahhh ahhh ahhh ahhh ♪ >> power transitions in the middle east are in focus after the death of the iranian president. meanwhile in saudi arabia, their prime minister's health is being watched as he's receiving treatment for lung inflammation. michael joins us for all of these developments in a year that has many up expected developments so adding to the sheer amount of uncertainty. >> uncertainty is a perfect word in a sense that the iranian president is not -- he's not -- it's not a powerful position in itself. the ayatollah and the talk now moves to his son which would be unusual because it's not meant to be hereditary system. it does raise some questions the idea or the notion that perhaps someone more liberal will be installed. it seems very, very unlikely. this is a regime that is at wear with its own people. relations are very poor. 60% of iranians are under 30. these sanctions make it difficult in the economy. this theocracyy a lot

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing taxates or filing returns. avalarahhh ahhh should i? normally i'd hold. but... taking the gains is smart here, right? feel more confident with stock ratings from j.p. morgan analysts in the chase app. when you've got a decision to make... the answer is j.p. morgan wealth management. annabelle: china's government is said to be planning a meeting friday morning with banks and regulators to discuss at the property market. the agenda include proposals to clear inventory. for more, we are joined by our chinese correspondent. we have already seen properties stocks rising in anticipation of this but what do we know about the meeting? >> the breadth of the invitees show how important this meeting is. we are looking as senior officials. they are all attending via video conference discuss this proposal to potentially buy back millions of homes from across the country with the help of state owned enterprise and using loans from state yanks. a lot of details yet to be sketched out. the big question i

. ♪ thanks to avalara, we can calculate sales tax automatically.valarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh just stop calling each other rock stars. and using workday to put finance and h.r. on one platform. tim, you are a rock star. using responsible ai doesn't make you a rock star. it kinda does. you are not rock stars. (clears throat) okay. most of you are not rock stars. oooh. data driven insights, and large language models. oh, that's so rock roll. it is, right. he gets it. yeah. haidi: link asset management which runs a hong kong-listed real estate investment trust reported a jump in revenue, of the net property income fell short of analyst expectations. let's talk about this with the executive director and ceo, kwok lung hongchoy, who joins us in the studio. great to talk with you. george, what were the biggest challenges during this period? george: there is

thanks to avalara, we can calculate sales tax automatically.hhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh should i? normally i'd hold. but... taking the gains is smart here, right? feel more confident with stock ratings from j.p. morgan analysts in the chase app. when you've got a decision to make... the answer is j.p. morgan wealth management. annabelle: you are watching daybreak australia. political news in the u.s., they will send a delegation to taiwan for the inauguration of the president-elect. washington says the visit is in keeping with its long-standing practice of sending former officials to support the democratic electoral process. it was a setback for the chinese president for more influence over the self-governing island. singapore's new prime minister is warning of a riskier and more violent world as he officially takes the home of the city state. he says sin

this is bloomberg. ♪ thanks to avalara, sales tax automatically.ates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh annabelle: our next -- haidi: our next guest is warning of an increase in digital trust issues , the consequences of innovation from quantum computing to ai. this company says it is working with 80% of fortune 500 companies and 70% of firms listed on the asx. the ceo joins us from melbourne. it makes complete sense in terms of this era of digital distrust we are in and the escalating technology also risks posed by things like ai and generative ai. what does it mean for your business, which has been in the business of authentication and security for so long? amit: first, thank you for having me. digital is the global provider for as you mentioned, 80% of fortune five -- 500 copies worldwide. digital trust is something we take for granted, it makes sure all the actions you have on secure

when you automate sales tax with avalara, you don't have to worry about things like changing tax ratesfiling returns. avalarahhh ahhh haslinda: dales ceo says the company is unveiling a new line of personal computers for ai tasks. we spoke exclusively with michael dell alongside nvidia chief jensen wong. the dell conference in las vegas. >> all of our new pcs will be ai pcs. and the reason is, anything you are doing that has an edit prompt is going to be sped up because every software developer in the world is figuring out how to use all this new power in the gp use, the mp use in these new ai pcs. >> that's the units. >> exactly. that experience will be better. when your pc is four years old, it's time to get a new one? you will want the one that speeds up the new capabilities. the machine is going to last for several years that doesn't have the capability. >> where is nvidia's place in a ipc? i grew up with the gaming site of nvidia, do you have a place in ai pc market? >> come back next year. >> there are a bunch of nvidia in dell pcs and dell workstations. all of our gp use at the

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing taxes or filing returns. avalarahhh ahhh caroline: politics news out of the united kingdom. rishi sunak likely to call an election for as soon as july as been reported by the guardian. we know this been plenty of rumors accentuated by the inflation report that came out of the u.k. today which showed even though it's higher than the market anticipated inflation is slowing to where the bank of england's key rate of 2% level target is. this is notable because there's been much frustration in the way in which rishi sunak, a prime minister the u.k. has been able to inject or not the economic recovery into over the u.k.. the alternative party in the u.k. leads by many points in terms of how perhaps voters will lead. i don't want to accelerate to the polls. >> july would be sooner than the sort of general wisdom which it was the prime minister would wait until the autumn. his consistent line has been there would be a vote in the second half of the year but the rationale thinking he would wait un

. ♪ thanks to avalara, we can calculate sales tax automatically.valarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh >> we do not expect it will be appropriate to reduce the target range for the federal funds rate until we have gained greater confidence that inflation is moving sustainably towards 2%. so far this year the data has not given us the greater confidence and in particular as i noted earlier, readings on inflation have come in above expectations. it is likely that gaining greater confidence will take longer than previously expected. haidi: that was the fed chair jerome powell signaling fresh concerns about inflation, one of the assets we have the most reactive to the rate differential between the fed has been the japanese yen those moves reflecting the japanese government polls but that jump, you see for the japanese yen come over 3% surge in the final minutes of

. ♪ ♪ when you automate sales tax with avalara, you don't have to worry about things like changing taxes or filing returns. avalarahhh ahhh haidi: let's look at some key curry assets ahead of the back of career decision. we are expecting a potential upgrade in the economic outlook for the back of korea, but today front-and-center, the focus is ai related stocks. we are seeing quite a bit of reaction they are given the strong forecast for nvidia. more importantly, weakness across the kospi. a move in the won ahead of the be ok. our guest joins us. there is an advance to keep rates steady and upwardly revised the forecast. it is the steady drumbeat of the central banks having to recalibrate the trajectory of the next part of the monetary policy parts. >> yes. we saw surprising growth in the first quarter. it implies that the korean economy is more resilient than anticipated. at the need to consider that -- at the same time, we need to consider that a greater contribution came from the external side driven by a growing demand for ai-related chips. and also in the domestic demand side, oth

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing taxates or filing returns. avalarahhh ahhh trains. [whoosh] ♪ trains that use the power of dell ai and intel. clearing the way, [rumble] [whoosh] so you arrive exactly where you belong. haidi: israeli tanks have reached the center of profith -- rafah. residence reporting clashes in the center of town. it comes on the back of that horrific scenes that have come from the refugee camp. international criticism is reaching a fever pitch. this is an operation that is still going ahead. >> what we are seeing is confirmation of what prime minister net yahoo! and the israeli government said the whole time. they must go in here. there is still groups of militants that need to be taken out. it's probably where the hostages are. that's where they six backed military leadership is. there's also weapons from egypt as well which they try to lock up. that's going to continue. we saw that terrible airstrike on sunday that killed 45 people including women and children. it's an interesting discussion going

. ♪ thanks to avalara, we can calculate sales tax automatically.larahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh vonnie: this is "bloomberg markets," and it's time for the wall street beat. it is also today's big take. a closer look at the booming private credit market. a fight between bearings and senior defectors is a rude awakening for the market, selling itself on trust, as well as stability. paul cowrote the story and joins me now. thank you for joining. explain what happened. details are murky about how these left bearings for another shop. paula: so what we knew before in the story was that 22 people did it at the same time on the evening of march 8. now we can tell you a bit more about why they left. what we learned is that all weight men offered the defectors carinthia. opening up a path but it wasn't just about the money. they are upset about how management fees

thanks to avalara, we can calculate sales tax automatically.hhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh >> live from bloomberg's world headquarters in new york, i'm sonali basak. >> we will look at the technologies and transactions of decentralized finance. sonali: prices surging as there are signs of u.s. approval of ether etf on the horizon. >> we are also on the verge of an expected u.s. house vote on the regulatory framework bill for assets. we speak about the legsl

when you automate sales tax with avalara, you don't have to worry about things like changing tax rateseturns. avalarahhh ahhh get your business online in minutes with the power of ai... ...with a perfect name, a great logo, and a beautiful website. just start with a domain, a few clicks, and you're in business. make now the future at godaddy.com/airo katie: all right, it's time for social climbers, a look at the stocks making waves on social media this morning. first up, a partnership could make cell phone dead zones a thing of the past. verizon will team up with satellite communications companies ast space mobile to improve connectivity in the u.s. this deal is a new challenge to spacex, which announced a similar agreement with t mobile two years ago. next up, baristas at starbucks sounding the alarm over staff shortages. workers said they blame understaffing in part on an algorithm the coffee chain uses to allocate store labor. they say this system doesn't account for special requests, such as cold foam. starbucks disputes that it's underred, but it did say that longer wait times pla

. ♪ thanks to avalara, we can calculate sales tax automatically.valarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh annabelle: here are some of the top global stories we're tracking. the israeli military says its tanks reach the center of the southern gaza city of roff as it conducts a precise set of operations. israeli prime minister benjamin netanyahu says the ground invasion of roughly is needed to root out thousands of hamas fighters. sunday's airstrike on the air camp that reportedly killed 45 people will not mean a change in policy on supply weapons to israel. hong kong's national security police released a security law for the first time. in there is an annual vigil to commemorate the 1989 tiananmen square crackdown. they made online quotes with seditious intent telling people to join unlawful acts. she's in detention for a separate charge. saudi arabia's crown princ

thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh and they're all coming? those who are still with us, yes.hhhhh grandpa! what's this? your wings. light 'em up! gentlemen, it's a beautiful... ...day to fly.

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax or filing returns. avalarahhh ahhh craig here pays too much for verizon wireless. so he sublet half his real estate office... avalarahhh [ bird squawks loudly ] to a pet shop. meg's moving company uses t-mobile. so she scaled down her fleet to save money. and don's paying so much for at&t, he's been waiting to update his equipment! there's a smarter way to save. comcast business mobile. you could save up to 70% on your wireless bill. so you don't have to compromise. powering smarter savings. powering possibilities. people couldn't see my potential. so i had to show them. i've run this place for 20 years, but i still need to prove that i'm more than what you see on paper. today i'm the ceo of my own company. it's the way my mind works. i have a very mechanical brain. why are we not rethinking this? i am more... i'm more than who i am on paper.

thanks to avalara, we can calculate sales tax automatically.hat if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax or filing returns. avalarahhh ahhh her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. hi, i'm tali, okay, that's uncalled for. and i lost 85 pounds on golo. all my life i struggled with my weight. i tried every diet, and i even had weight loss surgery. but, after complication, i had gained everything back extremely fast. i was unhealthy, miserable and depressed. following golo, and taking release, i was able to lose weight gradually and keep it off. i w

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing taxes or filing returns. avalarahhh ahhh should i? normally i'd hold. but... taking the gains is smart here, right? feel more confident with stock ratings from j.p. morgan analysts in the chase app. when you've got a decision to make... the answer is j.p. morgan wealth management. a slow network is no network for business. that's why more choose comcast business. and now we're introducing ultimate speed for business, our fastest plans yet. we're up to 12 times faster than verizon, at&t, and t-mobile. and existing customers could even get up to triple the speeds at no additional cost. from the company with 99.9% network reliability and advanced cyber security, it's ultimate speed for ultimate business. and it's all from comcast business. >> from the world of politics, to the world of business. this is "balance of power."

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing taxes or filing returns. avalarahhh ahhh so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. david: as the head of memorial sloan-kettering cancer center your biggest problem is getting enough money to do research and give the patients the care they want so they're always raising money or that's not your biggest problem? dr. vickers: it's not my biggest problem but there is a problem. there is no doubt the cost and health care is significant. not only for the patients but for the science an

. ♪ thanks to avalara, we can calculate sales tax automatically.hh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh people couldn't see my potential. so i had to show them. i've run this place for 20 years, but i still need to prove that i'm more than what you see on paper. today i'm the ceo of my own company. it's the way my mind works. i have a very mechanical brain. why are we not rethinking this? i am more... i'm more than who i am on paper. gotcha. take that. whoa! bruh! i'm fine. that smack looked bad. not compared to the smack down i'm giving you. you sure you're, ok? you know you're down 200 points, right? lucky, she convinced me to get help. i had a concussion that could've been game over. in actual reality, you've only got one life. don't mess with your melon. if you hit it, get it checked. >

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing taxes or filing returns. avalarahhh ahhh ♪ paul: china sold treasury bonds totaling 50 $3.3 billion. beijing's investments are garnering attention amid signs that the tension make it worse. president biden unveiled sweeping hikes. meanwhile the imf criticized the biden administration move to raise tariffs on chinese goods. the u.s. economy would benefit more from open trade. the imf has been stepping up criticism of its biggest shareholder after trade restrictions and a currency impact. two senior lawmakers blasted a washington-based foundation or accepting money. they say the move flies in the face of efforts to keep foreign adversaries from compromising u.s. research. while way is blacklisted but funded a research competition. i mentioned some tariffs from the u.s. on china, take a look at stocks falling. biden administration is fostering deeper u.s. supply chain. solar panels manufacturer in the u.s. and chinese stocks suffering. shares dropping 2.4%. 3% now after bloomberg reported th

. ♪ thanks to avalara, we can calcu s tax automatically. avalarahhhhhh what if tax rates change? filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh food isn't just fuel to live. it's fuel to grow. my family relied on public assistance to help provide meals for us. these meals fueled my involvement in theater and the arts as a child, which fostered my love for acting. the feeding america network of food banks helps millions of people put food on the table. when people are fed, futures are nourished. join the movement to end hunger and together we can open endless possibilities for people to thrive. visit feedingamerica.org/actnow >> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees.

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing taxates, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. ♪ >> muted moves in bhp, off by half of 1% after anglo-american rejected a second approach. the takeover would've made bhp the largest copper producer. let's bring in paul allen hunt. this has not one over the anglo-american board. paul: the -- the -- the offer is now up to $43 billion, but yes, the response was bhp's approach undervalued the company so that inclu

. ♪ thanks to avalara, we can calculate sales tax automatically.hh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. ♪ joumanna:

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing taxcertificates or filing returns. avalarahhh ahhh ahhh ahhh abigail: coming up, pinterest ceo joins bloomberg tv at 11:30 a.m. new york time. this is bloomberg. katie: it's time for our daily wall street week conversation and today we are looking at the growing demand for ai chips. joining us we have the chip wars author and tufts university professor of international history along with david westin. this is one of the most competitive industries yet you have one huge -- david: the question is do they have the chips they can buy other than from nvidia. we had earnings out of and, i vestment bait -- i guess my basic question is there anyone who can narrow the gap with nvidia in terms of buying chips. >> they have an extraordinary lead and it looks like they are maintaining it. we see all the big tech firms each quarter building out their data capacity. the lions share of that money is going to nvidia who is producing almost all of the key chips both for training ai systems but also deploy

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax or filing returns. avalarahhh ahhh francine: emma grede is perhaps best known as the founding partner of skims along with kim kardashian. the shapewear brand was valued at $4 billion last year. i continued the conversation by asking emma about the business and her commitment to supporting diversity and black owned companies. francine: skims is also huge. did you ever think -- what do you call it, an underwear shaping company? emma: yes. i mean, we made underwear, solutionwear. you know, skims has grown so unbelievably. and, you know, that is kim kardashian's company, it was her idea from the outset. i honestly believe that we never thought that it would just be one thing. we always thought about it as being this huge company that would do a lot of things well. but, again, that company was based on just doing one product really, really well. i think that is testament to any great company. we had so much focus in the beginning. we were like here is what we are going to do, we are going

thanks to avalara, we can calculate sales tax automatically.hhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh abigail: this is bloomberg markets this is a live shot of the principal room. coming up, dana tesley is live at 4:00. this is bloomberg. katie: it's time for our wall street week conversation. donald trump's allies said that he will seek to influence the federal reserve which could have implications on inflation. joining us now is thomas dres chsler along with david westin. david: it's a big topic. president trump's advisors wanting to move on jay powell. is particularly timely right now. what were you taking a look at and what did you find? thomas: i studied how past u.s. presidents pressured the fed and what impact it had on the economy. it is a timely question in a very challenging question because political pressure can take many forms and it is quite difficult to

. ♪ thanks to avalara, we can calculate sales tax automatically.rahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh ♪♪ sandals jamaica sale is now on! with rates from $199 per person per night. visit sandals.com or call 1-800-sandals katie: it's time now for social climbers. looking at what is making waves on social media. the justice department claims say -- burberry warning of a challenging first half after trench coats that they have week sales in the u.s. and china. it failed to bear fruit. forecasting sales below estimation. clothing has been hurt by inflation but cowboy hats and boots thanks to beyonce's country album. coming up, the fitness business in the era of ozempic we will speak to bahram akradi from life time fitness that's coming up next here on bloomberg. ♪ book now. (aidyl) hi, i'm aidyl, and i lost 90 pounds on golo. i struggled with weight loss and weight gai

when you automate sales tax with avalara, you don't have to worry about things like changing tax rates returns. avalarahhh ahhh caroline: welcome back to "bloomberg technology." let's get a quick check on the markets. a little bit of suppressed enthusiasm around tech stocks. even as borrowing costs come down. the 10 year, four point 54 is where retrade and that's more on the macro picture. gdp slowing with inflationary pressures meaning that the fed can cut. we come down on borrowing costs with nasdaq under pressure for micro data earnings. bitcoin is currently off by 1.5%. more new music to the upside. 68,000 on the crypto, that's where we dig later in the show. moving on to the individual movers, perhaps tugging down the overall risk sentiment protect stocks. down 21% for salesforce. seeing them slide the rest -- the most, slow quarterly sales growth, slowest in their history. with the generation of artificial intelligence, it won't generate revenue anytime soon. it's down by 35%. smaller business, yes, with a focus on automation software and what generative ai and compact -- competi

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing taxalarahhh ahhh and they're all coming? those who are still with us, yes. grandpa! what's this? your wings. light 'em up! gentlemen, it's a beautiful... ...day to fly. >> welcome to "bloomberg markets ." i'm sonali basak. investors bracing for the fed. we are just two hours away from an expected hawkish hold for the central bank, leaving rates unchanged. let's get a check on the markets. we have a second day of declines on the s&p 500. in the less of a decline than a day ago, down 0.4 -- a little less of a neckline than -- a

thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh >> we are half hour away from the opening bell, you are watching "bloomberg: the china show". stocks in china in focus amid the

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing taxes, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh haidi: looking at how european futures are shaping up and it has been a session globally given the closure of u.s. markets for memorial day but we have seen some upside when it comes to european stocks than we had [indiscernible] talk about the concept of consecutive cuts from the european central bank official futures looking positive and euros stocks up 1/10 of 1% we did see cars sensitive utilities the better annabelle: we are 30 minutes into the trading session and we are not seeing much movement across the board with the broader gauge sitting flat and trading volumes are pretty much off the 20 day moving average. this relates to what we expect in terms of economic data because we have fresh inflation numbers dropping from australia to japan the euro region with signals coming through and hearing from the boj governor wanting to get more of a sense of whether we are seeing price pressures receding and whether t

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing taxng returns. avalarahhh ahhh should i? normally i'd hold. but... taking the gains is smart here, right? feel more confident with stock ratings from j.p. morgan analysts in the chase app. when you've got a decision to make... the answer is j.p. morgan wealth management. annabelle: the point is being made that this is the end of an era of sorts perhaps today because we are actually in the last ever block of "daybreak asia" and there is a new show and store on monday, shery ahn has moved across to new york and you are teaming up for a real look at the trading action. what is in store? haidi: as you and i have talked about, there is so much renewed focus with the wake of japan -- bank of japan to policy tightening and the historic weakness that we continue to see in the yen, no better time than for shery ahn to be on the ground in tokyo. bloomberg will be there to cover all of the details, speaking to some of the top corporate newsmakers and really be there as we see these economic transiti

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh katie: it's time for social climbers, look at the stocks making waves on social media this morning. first up is the company behind vance in its hiring the lululemon former head of product. it's attempting to leave a turner -- lita turnaround after it reported its seventh straight quarter of declines. membership based social club rejecting a buyout offer because it didn't reflect the company's value. a short seller suggested solo house may need -- may meet bankruptcy. chipotle is getting spicy feedback on social media after some tiktok and read it uses claim the mexican fast food chain is cutting back on portion sizes. the ceo disputes claims saying that disappointed customers can get more food by giving workers a secret look by widening your eyes and nodding your head when portions are being doled out. in any case, you can follow the latest company buzz on tren go on your bloomberg terminal. jeep is charging into the

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing taxalarahhh ahhh haidi: china's top climate chief is warning the climate fight will be too costly without china. he spoke exclusively to stephen engle and says western de-coupling could cost the global economy trillions of dollars. >> if western countries -- it will cost the world maybe an additional $6 trillion u.s., a 20% increase of the overall cost. we need to maintain the low cost. otherwise nobody is going to afford the energy tradition process. stephen: officials claim china is given unfair subsidies and that has led to the situation we are in right now which could distort global trade in these clean products. how do you respond? >> [indiscernible] all the renewable energy equipment technology, they are developed and manufactured by private companies. it is very unique. very unique. i think private companies normally do not receive any government subsidies. we should highly appreciate the dedication and contribution. after more than a decade, now we have both solar and wind product

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing taxates, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh haidi: taking a look at numbers for japan's megabanks, earnings yesterday from mitsubishi, matsuri, and mizuho financial group. pretty much downside with straight lenders coming through. let's get more with our editor, russell ward into deal. as soon as i sell the numbers coming online, i was surprised given the record profits, and i talked to you about it, and you talked about the size of the buybacks in particular. russell: that is right. it is strange, japan's biggest banks forecasting another round of record profits, and the shares fall. really, this is because they are not sharing enough of the profits with investors in investor eyes. a buyback plan was announced a ¥100 billion, and that is less than 1% of its outstanding stock, so one analyst said before that this would be a negative surprise, and he was right about that. the buyback was the same size, but the percentage of the stock was a little higher, so

. ♪ en you automate sales tax with avalara, you don't have to worry about things like changing tax rates returns. avalarahhh ahhh her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for.

when you automate sales tax with avalara, you don't have to worry about things like changing tax ratesexemption certificates or filing returns. avalarahhh ahhh ahhh ahhh annabelle: china is creating the country's largest ever chip fund to boost the development of its domestic semiconductor energy -- industry. beijing looks to achieve chip self-sufficiency despite u.s. restrictions. i think the rationale for starting this fund is pretty evident. we know china is trying to become an advanced chipmaking superpower and it's also facing tensions with the u.s., but is this sort of funding -- do you think it's enough to make a difference here? >> yes. as you say, this shows that china is doubling if not trickling down on its plans. does this make a difference? i think it's hard to say when it's countering curbs on chipmaking businesses. the biden administration has imposed a lot of restrictions on china's ability to buy advanced chips and chipmaking equipment. we have seen some areas where china has been able to circumvent this or develop advanced technology. it's a result of china being able

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing taxling returns. avalarahhh ahhh >> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg l.p., its affiliates or its employees.

. ♪ thanks to avalara, we can calculate sales tax automatically.larahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh (♪♪) (♪♪) what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you're the man! i wish. the future isn't scary. not investing in it is. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com haslinda: welcome back. the chinese prayer head's to soul as -- chinese leader heads to seioul for the first trilateral talks in five years. what is on the agenda for these talks? >> these three countries have not held a summit since 2019, so there is a lot to talk about. that summit had been halted partly because of the pandemic, but partly also because of resistance to beijing due to these growing ties w

. ♪ thanks to avalara, we can calculate sales tax automatically. what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh katie: all right, let's take a quick look at some stocks hitting highs this morning read hp hitting a 52 week high after second-quarter revenue beat estimates. hikes from city as analysts looked for increased growth in the pc business. hitting highs after upgrading to overweight at j.p. morgan, helping to spur a 2.3% rally today. good enough for a 52-week high. also higher as analysts look for the discount retailer to report third-quarter results. cosco shares are up over the past year. taking a look at the market right now, 90 minutes or so into the u.s. trading day, it is soggy and getting worse. the s&p 500 is currently lower by half of 1%. even worse on the nasdaq 100. coming up, tom seybold joins bluebird technology with caroline hyde, coming up next. that does it fo

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing taxes, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh paul: let's bring a tale of two tech stops -- tech sox, alibaba losing a little it of ground come after fourth quarter profit came in weaker than expected. tintin on the other hand, had a pretty good quarter there is well. we're waiting to hear from baidu and jd.com after the close today. elsewhere we got china property starts doing pretty well, the broader index in shanghai doing pretty well also. more to come. this is bloomberg. ♪ paul: welcome back, live pictures of shanghai, china market shows heading to lunch. pretty good day, most markets around the region in positive territory. csi better than -- by .75%. this rally is looking pretty broad-based. avril: it is, and almost everything rallying. it's at fuel from the u.s. cpi print, but on the man land -- on the mainland are getting the added lift on expectations and policy support for the property sector and the gauge of developers in hong kong jumping by 11%,

." ♪ thanks to avalara, we can calculate sales tax automatically.rahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh haidi: look at her koefs are trading the day after the rv and said, they set the cash rate cuts will start later in 2025. kind of joining the over all human we are hearing from central banks of staying higher-for-longer and pushing back expectations of easing. this is the picture in kiwi stocks. a bit of negative in equities. mixed fixture in asia. still digesting the big nvidia numbers and also from the fed, that chorus of higher-for-longer . the kiwi dollar is maintaining gains, 61 point 03. we saw a big jump in the q. week. leading the g10 space at one point after the decision, as well as rising yields. the rv and the governor says inflation is that happening across all sectors in the economy, signaling that policy will stay tight after keeping rates unchanged

. ♪ thanks to avalara, we can calculate sales tax automatically.valarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh something amazing is happening here. retailers are moving inventory quickly and securely. that's because cdw designed and built a solution with cisco security. end to end protection, defends against attacks and makes better decisions in real time. so warehouse and customer data stay protected every step of the way. make amazing happen. cisco and cdw. >> this budget shows that we are realistic, that the pressures people face right now. and we are optimistic about the future. this budget reflects our biggest ambitions and our highest aspirations. to make us the primary beneficiaries of the world of churn and change. haidi: the australian treasurer delivering the annual budget. take a look at out australian assets are looking. watching to see if we see any uplift

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax, exemption certificates or filing returns. avalarahhh ahhh ahhh ahhh >> take a look at one of the stocks we are watching. really essentially a raise among all the losses -- erasing all the losses, the bank did report a steep 32% decline. paul allen is with us for more analysis. this was pretty well flight. >> it was -- well flagged. >> it was. mccoury says it was not going to be a great year. $3.5 cash profit was amiss as well. the commodities part of the business, the 47% decline in terms of its contribution to net profit there's been substantially lower inventory management according to mcquarrie, trading has been down and it is the same story for investing, 48%, a weak environment for dealmaking and m&a on the rest of it. mcquarrie did note that there is a lot of uncertainty and some -- the dividends look pretty good on the face of it 3 85 a share. a 40% decline. all in all it was a difficult year for mcquarrie. >> did it look a little bit more optimistic than what we got from the

. ♪ when you automate sales tax with avalara, you don't have to worry about things like changing taxion certificates or filing returns. avalarahhh ahhh ahhh ahhh ♪ ♪ >> we feel really bullish about the demand we are seeing from our customers and the sustainability of that demand. you seen experiences outpace spend on stuff. that rate has increased twofold coming out of covid. sonali: that was the royal caribbean ceo on the boom and demand for cruises. no reason cruise line shares are struggling today but that is despite record bookings in the first quarter. investor expectations are skyhigh following that strong report. we will bring in the ceo to talk about what's going on in his business. if you look at what you've given the street, you hiked your guidance and you are still not seeing investors react to the extent you would think. if you say things are going to be better in the future, how do you meet investor expectations at this point? >> thank you for having me on the show today. we are really thrilled for our performance in q1. yields are up 16% in great demand in ticket revenu