it felt like glencore was throwing the ball back in teck's court.d some news out a few hours ago, one of the shareholders in teck did say that they don't support the split any longer. the things they highlighted that i found interesting was they said even if you split off the coal assets from the base metal assets, it's not a surefire guarantee they would get esg re-rated for the base metals business because they would still be streaming a lot of cash flow from the coal business. i think that's an interesting point that a lot of investors will be mulling through. jon: let's stay on that for one more second, because on the one hand, there's a large appetite globally for the metals business. our own reporting has suggested the mining giants would jump at the chance of acquiring that business. on the coal side, it is tricky time particularly because of some of the newer complications from institutional investors owning those kinds of assets. guest: this is the whole point, teck wanted to do this split because they wanted to get rid of the whole assets.

they are also talking about teck resources. the window is slowly closing. what are the odds of this happening? >> it is a tough call. tack is confident that they will get the split they want, and glencore is confident they will get enough investors on their side to basically get a deal done and buying up tech. everyone wants to claim up the win, but when we dig into it, there are fair questions over whether or not tech will be able to win this split. we had a number of investors come out to say they do not support this split. last week, we had two big ones. it was not the best deal for investors, and i want to talk about this yesterday. the latest letter from glencore suggest that many people are wanting tech to hold off on the vote of the split. that is set for april 26. >> the other interesting thing. some have wondered with global headlines, whether the federal government in about a player stepping in here, and we will see what happens on that aunt, but in british columbia, we have a premier there who is taking the opportunity to step up to the podium wh

andy: teck is still in play.have a lot of the multiple voting chairs, they say they are open to a transaction, just not with glencore. they do not like glencore with its checkered history of fines for bribery or settling settlements for bribery. it is a classic example of keep it simple. they announce this elaborate spin off of the coal, where the coal would go on funneling cash flow back to the mining for years. called a greenwashing, they are spinning off the coal. still pocketing loads of money. jon: a lot of people today have been recognizing that as perhaps the issue they have to go back to the drawing board and figure out. in terms of the value of the metals business -- at the end of the day, that's been part of the story here in tech shares rallying in part because of bloomberg's reporting that there could be other players interested in the metals business. they are saying they'd like to get some kind of deal that separates the coal business and shines more light on the metals business. andy: they're going

it is interesting, i wonder you mentioned the vw deal, they talked about teck resources.prime minister true calling it -- trudeau calling it a great company. you have been following it mostly. >> right now, we are watching what is going to happen with teck resources. when you think about the economic future of canada, a lot of commodities rich businesses. tech has been looking to focus more on their metals business, which plays into the electric vehicle future. we know we have seen commentary from several officials and the prime minister talking about it, as well about the sensitivity of foreign hands. meanwhile, we know the prime minister does not usually talk about inflation trends but made a reference to his own expectations setting into the latter half of the year. the economies in focus right now on both sides of the border, let's get more perspective. the chief economist of nationwide joining us for more on the economic picture. so great to have you with us. it is interesting to hear those comments from the prime minister justin trudeau on a day we got economic data

for what it's worth, $23 billion is what when court offered for the bid for teck resources. no and said they are going to split up the businesses. there is going to be a shareholder vote later this month. today we saw a sizable tech investor in support of text plan -- of the plan. in any event -- electric vehicle filled world, there is a view that will be a valuable business. there are restrictions on how this plays out and what the move ends up being. kriti: you are looking at tech and shares down about 2.5% on the day. a stopped to keep in -- to keep an eye on. the s&p 500 down about .2%, more markets coverage ahead, romaine bostick takes it from here. this is bloomberg. ♪ romaine: it ain't over until the fed says it over. the fed's fight to the economy may have another round or two to go. romaine bostick alongside katie greifeld. happy monday. we had a four-day weekend for you. katie: i was working from home thursday. we did have friday off. thrilled to be here with you all week. we are going to have a good time. romaine: is the market going to have a good time? it is goi

teck rejected glencore's proposal to buy the company and $23 billion in shares. deal would give teck shareholders the option to get billion dollars of cash is that of shares. blackstone closed its largest level property drawdown fund, it secured 30.4 billion dollars for the fund that targets deals across sectors, such as rental, hospitality and data centers. it started in 1991, it now has $326 billion of investor capital under management. for the first time since 2018, boeing has taken the jet livery crown from its arch rival airbus. the u.s. company says it delivered 130 aircraft in the first quarter, a 30% -- 37% increase. it is a sign that boeing is getting back on track after years of production issue. airbus delivered 127 planes, a 9% drop. coming up next, we will be discussing korea's economic outlook and the potential of another be ok --bok rate hike. this is bloomberg. ♪ >> today, what i want us to think about is why i think that in moments of financial stress like this, the right monetary policy is really caution and watchfulness and prudence. haidi: chi

candidates at teck resources is said to be open to offers from potential suitors once it finishes a spinofff its coal business. it has rejected a proposal from glencore. tech will go ahead with the shareholder vote separating its metals. that is your bloomberg business flash. alix: i want to get up to the start up when we cover the top tech stories. turning as now, and letlow -- joining us now,ed ledlow. ed: they're eliminating some roles focus on leadership and strategy behind store rather than retail store employees themselves. that is according to sources, we are avoiding the word layoff. these are strategic cuts. apple is building it as a part of making the store experience better. as guy was alluding to the moment ago, apple has been under a belt tightening, since last year including real allocating resources to more critical parts of its business. guy: does that imply that retail is not critical? ed: do not know the number of cuts. we do know managerial positions are being cut. to answer your question, that is how it is being built. realignment on the store direction, not be focused i

of a very large project and when there are different parties involved, we have been talking about teckother canadian company, it had a stake in the same project that suncor acquired. you can see a lot of canadian managers that have been compiling this control of their businesses and it will be interesting to walk -- watch depending on where you think oil prices are headed but a lot of people are bullish on the canadian names. that oilsands exposure has been a complicated story. kriti: something we will keep an eye on and keeping an eye on the markets, they are rallying. the s&p 500 is higher by one for six percent -- 1.6%. this is mark -- more markets coverage ahead. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network, with no line activation fees or term contracts... saving you up to 75% a year. and it's only available to comcast business internet customers. so boos

then we have glencore slipping as they potentially go hostile on their bid for teck resources and canadaa lot of shareholders don't like the fact they are spending more than $20 billion on the company. telecom italia in m&a news getting private equity interests in their networks unit though some people are disappointed around the prices that are being touted for that one which is down 3% in milan. bruno cuccinelli benefiting from the quiet luxury trend not something i know much about but that is dropping because some guidance is quite disappointing. there could even be weakness in the luxury space as it progresses. that one is lower today. tom: thank you very much indeed. one interesting story and important in terms of the tech space more earnings around asml reporting net sales for the first quarter that beat the average analyst estimate. the company forecasted better-than-expected second-quarter sales amid strong demand for its chip making machines. let's bring in april roach in amsterdam. what stood out to you from these earnings and how positive is it for asml? currently the stock is

this in the middle of a fight to by canadian mining rival teck resources.bal news powered by more than 2700 journalists and analysts in more than 120 countries. i am lisa mateo. this is bloomberg. ♪ >> anticipate monetary policy will lead further into restricted territory this year. the fed funds rate moving about 5% and real fed funds rates same positive territory for some time. the fed has been focusing on lowering inflation which is essential if we want to support a growing economy and rising incomes. jonathan: lisa mentioned this, the fed speak yesterday sounding very similar. cleveland fed president, federal reserve governor they're weighing in on all of this and sounding the same that were going to go one and we might be done. lisa: that is clear in the trajectory they are after. let's say finish where they end, may 3 when they hike rates by 25 basis points as expected. how quickly do they cut? was the threshold for them to make a move lower? jonathan: mohammed's range of outcomes, you pause or you pause and the you have to cut are you pause and the y