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Thousands Of Israeli Settlers March To Outpost In West Bank; U.S. And Philippines Begin Major Joint Exercises Near South China Sea; Tupperware Shares Plunge After Warning It Could Fail. Aired 5:30-6a ET
Aired April 11, 2023 - 05:30 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
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[05:30:06]
CHRISTINE ROMANS, CNN ANCHOR: Clashes erupt between Israeli forces and Palestinians in the West Bank this morning. The Palestinians say more than 200 people were injured near Beta with 22 people hit by rubber bullets. The Israeli military says it was responding to what it called a riot. The latest violence began after Israeli police raided a holy mosque one week ago.
Elliott Gotkine is live in Jerusalem for us. Elliott, thousands of Israelis and even some cabinet members marched to an abandoned settlement in the West Bank on Monday calling for the government to resettle it. What can you tell us about tensions there?
ELLIOTT GOTKINE, CORRESPONDENT: Christine, it's no secret that ministers like National Security Minister Itamar Ben-Gvir, are supportive of building out and expanding settlements and Eviatar has been a bit of cool (INAUDIBLE) -- this particular settlement -- in the West Bank, which the settler movement has been trying to legalize for a while now.
For now, it remains in an illegal outpost but that's not to say that won't change. This government has already legalized nine outposts or announced that it was legalizing nine legal settler outposts just in February, and then promised the White House that it wouldn't do that anymore for the coming months. So at some point, that time clock will run down and presumably they will try and legalize some more. But for now, that particular settlement remains an illegal outpost.
Beyond that we've also been watching this news conference from Prime Minister Benjamin Netanyahu that he gave on Monday night here in Israel. Quite a rare news conference, taking questions and answers.
And he was doing that for three main reasons. One, to show -- to show his supporters that he has still got his hands on the wheel and that he's still in control.
And also to show Israel's enemies, particularly Palestinian militants with whom there have been a number of clashes, but its rockets from Gaza sent into Israel and most notably from Lebanon -- the biggest barrage of rockets fired from Lebanon into Israel since 2006 -- to show that Israel is still able to defend itself and able to strike back as and when it feels the need to do so despite those very visible internal divisions within Israel and those hundreds of thousands of Israelis out on the streets for the past three months protesting against the government's plans for a judicial overhaul that would pretty much remove all checks and balances on the government.
He was also using the opportunity for this news conference to blame the previous government for the deteriorating security situation.
And perhaps most importantly to officially rescind his firing of his defense minister, which sparked mass protests and eventually prompted him to pause plans for the judicial overhaul. So the defense minister officially now has not been fired -- Christine.
ROMANS: All right, Elliott Gotkine, thank you so much for that. Keep us posted.
The U.S. and the Philippines kicking off their largest joint military drills in 30 years this morning. Over the next 18 days, more than 17,000 military personnel from both of those countries will train on bases at the edge of the South China Sea.
As CNN's Selina Wang shows us, China has been conducting drills of its own.
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SELINA WANG, CNN INTERNATIONAL CORRESPONDENT (voice-over): China's fighter jets fly around Taiwan's skies. Military ships sail off its coast. China says it's simulating precision attacks on key targets in Taiwan. While Beijing has not launched any missiles its military released this animation showing missiles fired from land, sea, and air into Taiwan. Two of them explode in flames.
Beijing is showing the world its fury, launching three days of military exercises around Taiwan after the island's President Tsai Ing-wen met with U.S. House Speaker Kevin McCarthy in California.
For the first time, it appears China's simulated strikes with warplanes that took off from an aircraft carrier. This video shows Taiwan's coast guard confronting a Chinese ship. The Taiwanese sailor says, "You are now seriously damaging regional peace, stability, and safety. Please turn around immediately and leave. If you keep proceeding forward I will take eviction measures." The encounter highlighting the risks of any miscalculation in the Taiwan Strait.
Beijing sees democratically-ruled Taiwan as a part of its territory that will eventually be reunified with the mainland. China's military said the drills are, quote, "A serious warning against the Taiwan separatist forces' collusion with external forces, and a necessary move to defend national sovereignty."
Experts say Beijing is normalizing military activity around the island. It already sets military jets and ships around Taiwan every day. On China's heavily censored social media some are commenting that the
drills do not go far enough. One writes, "Let's just take Taiwan." Another says, "If you're not going to attack then don't waste taxpayer money."
When then-U.S. House Speaker Nancy Pelosi visited Taiwan last summer China responded with military drills that simulated a blockade. For the first time, China even fired missiles over the island.
[05:35:04]
Experts say the military response this time is more restrained because the meeting between Tsai and McCarthy was held on American soil to avoid provoking Beijing. Both Washington and Taipei have called the visit just an ordinary transit stop, but the symbolism was undeniable.
TSAI ING-WEN, PRESIDENT OF TAIWAN: We are stronger when we are together.
WANG (voice-over): With Washington's support for Taipei only growing, Beijing's anger will only intensify.
Selina Wang, CNN, Beijing.
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ROMANS: All right, quick hits around the globe right now.
Rescue operations underway for at least 1,200 migrants stranded on two boats in the Mediterranean. The Italian Coast Guard says one overcrowded ship is at risk of capsizing.
Rescue teams on Monday found two more bodies in the rubble of a collapsed building following a violent explosion Saturday night in the French city of Marseille. Six bodies have been found so far. Two people are still missing.
An apartment building also collapsing and tumbling to the ground in Tijuana, Mexico because of a landslide Sunday. Incredibly, no injuries reported.
All right. Coming up, the DOJ seeking a stay from an appeals court after the stunning Texas abortion pill ruling. And the folks who write your favorite T.V. show could vote to strike today.
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ROMANS: All right, here is today's fast-forward lookahead.
President Biden traveling to Belfast, Northern Ireland today. He will meet with British Prime Minister Rishi Sunak and mark 25 years since the Good Friday accord ended decades of violence.
Anti-abortion activists have until today to respond to the Justice Department's appeal in the lawsuit over the abortion pill. It is -- if the anti-abortion forces get their way this pill will become unavailable nationwide on Friday.
The Writers Guild of America set to strike on a -- to vote on a strike authorization today following weeks of contract talks for better pay. Eligible members who write most T.V. series and movies -- they have until noon on Monday to cast their ballots.
All right, the Tampa Bay Rays are off to the best start in baseball in more than, what, 30 years? Carolyn Manno has this morning's Bleacher Report. Ten wins in a row.
CAROLYN MANNO, CNN SPORTS CORRESPONDENT: Yes. You know, it is early on in the season, right? These things happen. The baseball season, 162 games. It's normal to have a couple of bad bounces along the way. So far, the Rays have not hit that speed bump. They are off to a fantastic start.
Tampa, the last undefeated team in the Majors, hosting the Red Sox last night. Scoreless through seven but Boston threatening in the eighth with the bases loaded. Colin Foshay freezing Rafael Devers for the strikeout to end the inning.
And then we move to the bottom of the eighth inning. You had Brandon Lowe finally breaking through. A nice little solo shot. The only run of the game as the Rays become the first time since the '87 Brewers to start a season with 10 straight wins. A long way to go but off to a really nice start.
One week after the most-watched National Championship game in women's college basketball history, some of the sport's biggest stars are going pro -- none bigger than Aliyah Boston this year. The Indiana Fever selecting South Carolina's superstar with the first pick of the WNBA draft.
The native of St. Thomas in the Virgin Islands, three-time All- American, and swept National Player of the Year honors last year. If you love college basketball you know her name.
In fact, South Carolina had five players taken last night. That is the fourth time that has ever happened. They had a phenomenal year. A lot of talent on that roster.
Meantime, LSU's Angel Reese and Iowa's Caitlin Clark, the stars of last week's championship game, not eligible to be drafted yet, so we'll wait a few more years to see them in the league.
But the WNBA season tips off on May 19. We're looking forward to that.
The NBA's Playoff Play-In tipping off tonight. Minnesota will be without Rudy Gobert against LeBron and the Lakers. They are very short-staffed heading into this game.
The Timberwolves suspended the center for punching his teammate Kyle Anderson in the chest during a heated exchange on the bench on Sunday. Gobert has since apologized and will be allowed to rejoin the team either for a potential first-round series against the Grizzlies if Minnesota wins, or against the winner of the Thunder-Pelicans game if Minnesota loses.
So the Wolves and Lakers -- second half of a doubleheader starting with the Hawks at the Heat, 7:30 eastern. Both of those games are on TNT.
And lastly for you this morning, the Baltimore Orioles might have the best news celebration of the season so far, if you're into this kind of thing. It's called the Home Run Hose. Ryan Mountcastle and Adley Rutschman both actually decided to partake, Christine, after going long in a 5-1 win over the A's.
For those wondering at home, the team tweeting, "We're staying hydrated over here."
Just to clear up any confusion about what, in fact, might be running down that hose, just a little bit of hydration. Just a little bit of celebration.
ROMANS: Well, I had no -- I mean, I went to college but I have no idea what that could be.
MANNO: Nobody knows what that's actually called.
ROMANS: Never seen that.
MANNO: It's called a hydration hose, yes.
ROMANS: All right, I'll take it. All right, nice to see you, Carolyn Manno.
All right. Coming up on "CNN THIS MORNING" a Tennessee state representative reinstated now after being expelled over a gun violence protest. What to expect now for his ousted colleague.
And next right here, Tupperware warning it could go out of business. How the retro container company is trying to save itself.
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ROMANS: All right, your Romans' Numeral this Tuesday morning, 301. Banks and other mortgage companies losing $301 on average for every mortgage they financed last year. The Mortgage Bankers Association blames decreased housing demand. A lot going on in the housing market this morning.
All right, looking at markets around the world, European markets are higher right now. Asian markets finished mixed. Consumer inflation in China hitting an 18-month low on an annual basis. And we're looking forward to IMF forecast for global growth. That comes out at about 9:00 a.m. eastern time.
On stock -- on Wall Street, stock index futures are leaning up but not very decisively here this morning. A lot going on this week, including the beginning of Fed earnings -- bank earnings, and also a bunch of consumer inflation data.
A mixed day for stocks. Investors looking ahead to the key inflation reports this week. The Dow up about 100 points. The Nasdaq finished lower here.
On inflation watch, ahead of factory and consumer inflation this week, gas prices ticked up a penny overnight to $3.61 a gallon.
Three central bank officials will deliver remarks later today hopefully providing clues about the Fed's future path to tame inflation.
All right, let's bring in senior economic analyst at Bankrate.com, Mark Hamrick. And Mark, it's so great to have you here.
We are exactly a month after the stress in the banking sector emerged. Is it -- is it harder to get loans? Have we seen, sort of, banks tightening up lending?
MARK HAMRICK, SENIOR ECONOMIC ANALYST, BANKRATE.COM (via Skype): Absolutely, Christine. Good to be with you.
[05:50:00]
I think this is one of the perhaps not so well understood aspects of what's happening in the economy right now when we see that major banks cut their lending in the last two weeks of March by the most on record.
And Federal Reserve chairman Jerome Powell said at the last news conference that tighter credit may be part of the current experience in the economy that does some of the Federal Reserve's work for it to the extent that they are continuing to prioritize inflation and if we have slower economic activity. And that does appear to be sort of the base case right now that this tightening credit is going to slow the economy. It may be slowing the economy right now.
ROMANS: Let's talk about the CPI and the PPI -- Consumer Price Index and Producer Price Index. They'll be released over the next couple of days. What are you expecting to see after the Fed's latest rate hike, which came after the collapse of two major banks last month?
HAMRICK: In terms of these readings on inflation the good news is that inflation is sort of tiptoeing away but it hasn't left the building as of yet. And as one measure of that we look at the year- over-year change in, for example, the Consumer Price Index, which I think is the measure that perhaps most people can align themselves with because that's akin to their experience as consumers.
The year-over-year increase, as you know, in February, Christine, was six percent. We're expecting to see a year-over-year increase in the next set of numbers of about 5.2 percent. Those are getting closer to the Federal Reserve's target -- a lot closer than the high of 9.1 percent that we had last June -- but now close enough to that two percent range.
And so we're still a number of days out from the next Fed meeting. As we know, a lot can happen in a day, not to mention a few weeks. But right now the expectation is that the FOMC is likely to raise rates --
ROMANS: Yes.
HAMRICK: -- by one-quarter of one percent at that meeting.
ROMANS: You know, so much of the economy is hopes and fears, right? And the New York Fed's latest survey shows that consumer inflation expectations ticked up for the first time in a long time. What do you make of that?
HAMRICK: Well, I think people are weary and wary of inflation. And this has been -- this has been something that's stuck around longer and at higher levels than just about anyone foresaw and that's taking a toll on consumers.
Our most recent Bankrate survey looking at emergency savings found that 36 percent of Americans had more credit card debt than emergency savings. And if it's true, as many economists believe that we now have about a two in three chance of a recession this year -- that's the finding of our most recent survey of economists -- well, having no emergency savings is a miserable place to be heading into that.
And so that's one of the reasons why we continue to advise people take advantage of those high-yield savings opportunities --
ROMANS: Yes.
HAMRICK: -- that are out there and try to prioritize emergency savings.
ROMANS: And for the love of God, pay down the high-interest credit card debt because these rates are really ugly.
Mark Hamrick, Bankrate.com, thank you so much. Nice to see you this morning.
HAMRICK: Great to see you, Christine. Thank you.
ROMANS: All right, tough times for Tupperware.
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Tupperware T.V. commercial.
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ROMANS: Shares sinking nearly 50 percent following a warning that it could go out of business after 77 years. Tupperware says it's working with financial advisers to find the money to stay afloat.
All right. The community in Nashville (sic), Kentucky reeling -- or Louisville, Kentucky -- sorry -- after a gunman stormed a bank leaving five people killed. New information on the attacker and the note he left behind.
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ROMANS: Our top of the morning, the top places to start a new life overseas.
Number one, Bahrain. A survey by an expat group says it's easy to get a visa, find housing, access government services online, and get around without speaking the language in Bahrain. Number two, the United Arab Emirates, where easy communication makes it relatively simple to settle in. And number three, Singapore, where English is widely spoken.
Germany was last just ahead of Japan and China.
All right, we're learning new details ahead of the coronation of King Charles III. CNN's Bianca Nobilo has more.
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BIANCA NOBILO, CNN ANCHOR AND CORRESPONDENT (on camera): It is less than a month now until the coronation of King Charles III and we're learning more details about what to expect.
The first of two processions will be the journey to the service from Buckingham Palace, which will be undertaken in the Diamond Jubilee state coach. Built in Australia, it's fitted with yellow silk. It's significantly taller than a standard car on the road today with a huge crown on top carved from a Royal Navy 18th-century naval flagship. It's lit inside so the crowds will be able to get a good look at the sovereign.
The second coronation procession will involve the gold state coach, which has been used in every coronation since William IV in 1831. It stands at four meters tall, seven meters wide, and weighs four tons, meaning it could only move at a slow walking pace.
Marrying the ancient and sacral with the modern there's now a new emoji for the occasion -- a crown that's based on St. Edward's crown, which King Charles III will be wearing for his coronation. That comes up to five pounds in weight.
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The gold carriages and crowns sit uncomfortably within the context of Britain's cost of living crisis, which is why the Palace has been keen to underscore that this will be a slimmed-down coronation with an emphasis on volunteering and giving back to the community.
Bianca Nobilo, CNN, London.
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ROMANS: All right, thanks for joining me. I'm Christine Romans. "CNN THIS MORNING" starts right now.
