Speaker 1: Good morning.
Speaker 2: I'm Nathan Hager and I'm Karen Moscow. Here are the
Speaker 2: stories we're following today.
Speaker 3: First, it is a busy morning on the political front,
Speaker 3: and we begin with a looming government shutdown. A last
Speaker 3: minute deal does not appear likely. Bloomberg Zamy Morris has
Speaker 3: the latest from Washington.
Speaker 4: House Speaker Kevin McCarthy and Republican hardliners want to make
Speaker 4: the shutdown about the surge of migrants across the southern border,
Speaker 4: but they're not united on exactly what they want. President
Speaker 4: Biden and his advisors consider these new demands to be
Speaker 4: renegging on the deal on spending levels that McCarthy made
Speaker 4: during the debt sealing standoff. And now moderate Republicans are
Speaker 4: looking to work with Democrats by passing a bipartisan stopgap measure,
Speaker 4: and they could force the House to vote on that,
Speaker 4: but not before the October first deadline. In Washington, I
Speaker 4: Maymy Morris, Bloomberg Radio. All right, Amy, thank you.
Speaker 2: But we're also following reaction to the second Republican presidential debate.
Speaker 2: Seven candidates took this stage at the Reagan Presidential Library,
Speaker 2: hosted by Fox Business. The autoworkers strike was a prominent theme,
Speaker 2: with front runner Donald Trump rallying workers in Michigan instead
Speaker 2: of taking part. Entrepreneur vivek Ramaswami had some advice for
Speaker 2: the United Auto Workers.
Speaker 5: I would say, go pick it in front of the
Speaker 5: White House in Washington, DC. That's really where the protest
Speaker 5: needs to be. Disastrous economic policies that have driven up prices,
Speaker 5: that have driven up interest rates and mortgage rates at
Speaker 5: the same time wage's remaining stagnant.
Speaker 2: The candidates also took more aim at the front runner,
Speaker 2: including Florida Governor Rond De Santis.
Speaker 6: Donald Trump is missing in action. He should be on
Speaker 6: this stage tonight. He owes it to you to defend
Speaker 6: his record where they added seven point eight trillion to
Speaker 6: the debt that set the stage for the inflation that
Speaker 6: we have now.
Speaker 2: The candidates also called for tougher border enforcement and a
Speaker 2: harder line on China, but they were split on supporting Ukraine.
Speaker 2: Senator Tim Scott argued to continue funding.
Speaker 7: Our national vital interests is in degrading the Russian military.
Speaker 2: And at one point the moderators asked which candidate they
Speaker 2: choose to vote off the island. All seven refused to answer.
Speaker 3: Well, Karen, this was the second debate that Donald Trump
Speaker 3: chose to skip during his day he was in Michigan
Speaker 3: and issued his support for the striking United otto Workers.
Speaker 6: I sided with the auto workers of American with those
Speaker 6: who want to make America great again, and I always will.
Speaker 3: Former President Trump's trip came a day after President Biden
Speaker 3: became the first sitting president in US history to walk
Speaker 3: a picket line as he joined the United Auto Workers
Speaker 3: outside Detroit.
Speaker 2: Well Nathan. In addition to Donald Trump, another critic of
Speaker 2: Joe Biden has been Texas Governor Greg Abbott. He blames
Speaker 2: the administration's immigration policies for a crisis at the border.
Speaker 7: I will be endorsing on the primary at the right time.
Speaker 7: That said, I think that any Republican can beat Joe Biden.
Speaker 7: Joe Biden is more underwater than any president in American history.
Speaker 7: He is disfavored even by people in the Democrat Party
Speaker 7: and by independence and of course Republicans.
Speaker 2: And Texas Governor Greg Abbott made the comments in an
Speaker 2: interview with a Bloomberg. Get the full conversation on the
Speaker 2: Bloomberg Talks podcast feed, available wherever you get your podcasts.
Speaker 3: Well Karen, another Texas resident, is in the news this morning,
Speaker 3: Elon Musk and he's deepening his ties to the Pentagon
Speaker 3: with a new contract. Bloomberg's Ed Baxter has that story.
Speaker 8: This is Musk's first deal with a US space force,
Speaker 8: the object to provide customized satellite communications for the military
Speaker 8: out of the company's Starshield program. SpaceX is competing with
Speaker 8: fifteen companies for nine hundred million dollars in work orders
Speaker 8: through twenty twenty eight as part of the Low Earth
Speaker 8: Orbit program. As process would incorporate the already existing Starlink
Speaker 8: communication satellite network. Some Senators have expressed concerns to the
Speaker 8: DoD that Musk could have a major impact on defense
Speaker 8: at a whim. At Baxter Bloomberg.
Speaker 9: Radio, all right, Ed, thanks well.
Speaker 2: Checking some stocks on the move this morning, Shares of
Speaker 2: Micron Technology down five percent. The shipmaker is predicting a
Speaker 2: steeper loss than anticipated in the current quarter for Micron
Speaker 2: and its competitors. It's been a brutal year. Personal computers
Speaker 2: and smartphone customers of slashed orders as they deal with
Speaker 2: lower demand and stockpiles of excess parts.
Speaker 3: Another mover this morning, Karen is Peloton. Those shares are
Speaker 3: surging thirteen percent on News. The fitness companies agreed to
Speaker 3: a five year partnership with clothing company Lulu Lemon. Lulu
Speaker 3: Lemon will make athletic War that Peloton will sell, and
Speaker 3: Peloton's online classes will be offered to users of Lululemon's
Speaker 3: studio mirror in Asia.
Speaker 2: Nathan a developing story from one of China's property giants, Evergrand,
Speaker 2: and its units have suspended trading in their shares on
Speaker 2: Bloomberg's Brian Curtis has more from Hong Kong.
Speaker 10: No reason given for the halt. It comes a day
Speaker 10: after sources told us Evergrand's chairman Hai Kai Yan was
Speaker 10: taken away by police. Way is said to be under
Speaker 10: residential surveillance. It comes at a delicate time for the
Speaker 10: big developer. Evergrand has scrapped key creditor meetings and revealed
Speaker 10: that it cannot issue new bonds. That's a setback to
Speaker 10: a planned restructuring and would seem to suggest an existential crisis.
Speaker 10: You know, Hong Kong. Brian Curtis, Bloomberg.
Speaker 3: Radio Brian Here in the US, Apple's getting heat in
Speaker 3: early reviews of the new iPhone. Let's get the details
Speaker 3: from Bloomberg's John Tucker.
Speaker 11: John Nathans. Some of the first users of the iPhone
Speaker 11: fifteen pro and promac say they're too hot to handle. Literally.
Speaker 11: The gripes of spread across Apple online forums and social
Speaker 11: media networks that the back or the side of the
Speaker 11: phone becomes hot to the touch while gaming or we're
Speaker 11: conducting a phone call or FaceTime video chat. For some users,
Speaker 11: the issue is more prominent while the device is plugged
Speaker 11: into charge. Apple technical support staffers referred customers to an
Speaker 11: old support article on how to handle an iPhone in
Speaker 11: New York. I'm John Tucker, Bloomberg Radio.
Speaker 9: Thanks Nathan.
Speaker 2: Time now for a look at some of the other
Speaker 2: stories making news around the world. For that, we're joined
Speaker 2: by Bloomberg Amy Morris Amy, Good morning.
Speaker 4: Good morning, Karen. A House panel will hold the first
Speaker 4: Biden impeachment hearing today, focusing on the business dealings of
Speaker 4: the first family. Political expert Amy Daisy says House Speaker
Speaker 4: Kevin McCarthy's facing pressure from his rights flank to open
Speaker 4: that inquiry in the first place.
Speaker 12: The Republicans haven't shown yet what they think the wrong
Speaker 12: doing is. I think the bigger thing for me is
Speaker 12: to witness kind of this procedure that's supposed to be
Speaker 12: a matter of checks and balances, how it's become so politicized.
Speaker 4: The House Oversight Committee plans to call three witnesses at
Speaker 4: this first hearing, a forensic accountant, a former government tax attorney,
Speaker 4: and a conservative legal scholar. New Jersey Senator Robert Menendez
Speaker 4: has set to address his Democratic colleagues today concerning the
Speaker 4: bribery charges he's facing. Bloomberg's Nancy Lyons brings us an update.
Speaker 13: More than half his Democratic colleagues in the Senate have
Speaker 13: called for Senator Menendez to step down. Senate Majority Leader
Speaker 13: Chuck Schumer has stopped short of calling for him to quit,
Speaker 13: but he has said his conduct fell below Senate standards. Menendez,
Speaker 13: who has temporarily been replaced as chair the Senate Foreign
Speaker 13: Relations Committee, is facing charges that he took gold, bars
Speaker 13: and cash as payment for illegally helping three businessmen as
Speaker 13: well as the country of Egypt. During his arraignment Wednesday,
Speaker 13: he pleaded not guilty to the charges and was released
Speaker 13: on one hundred thousand dollars bond. In Washington, Nancy Lyons
Speaker 13: Bloomberg Radio.
Speaker 4: The federal judge overseeing former President Trump's federal twenty twenty
Speaker 4: election interference case has denied his request that she'd be removed.
Speaker 4: Trump's lawyers claims the Obama appointed judge made disqualifying statements
Speaker 4: while sentencing two people for their roles at the January
Speaker 4: sixth Capitol Riot. President Biden says the US needs to
Speaker 4: make investments in science and technology.
Speaker 8: I don't know how we can be the safest, most secure,
Speaker 8: and healthiest nation in the world without significant investment and
Speaker 8: science and technology.
Speaker 4: Speaking at a meeting with the Council of Advisors on
Speaker 4: Science and Technology in San Francisco, President Biden noted the
Speaker 4: profound risk if artificial intelligence isn't handled with care. He
Speaker 4: acknowledged the fifteen American tech companies who already made commitments
Speaker 4: to making sure AI technology is safe before releasing it
Speaker 4: to the public. Global News twenty four hours a day,
Speaker 4: powered by more than twenty seven hundred journalists and analysts
Speaker 4: in more than one hundred twenty countries. I Amy Morrison,
Speaker 4: this is Bloomberg Karen all.
Speaker 2: Right, Amy, thank you, while we bring in the news
Speaker 2: throughout the day here on Bloomberg Radio Own. But now
Speaker 2: you can get the latest news on demand whenever you
Speaker 2: want it. Subscribe to Bloomberg News Now to get the
Speaker 2: latest headlines if the click of a button, get informed
Speaker 2: on your schedule. You can listen and subscribe to Bloomberg
Speaker 2: News Now on the Bloomberg Business app, Bloomberg dot com
Speaker 2: plus apples, Spotify, and anywhere else you get your podcasts.
Speaker 2: It is time now for the Bloomberg Sports Update, and
Speaker 2: here's John stash Hour, John.
Speaker 14: Darren Damian Lillard. I spent this entire eleven year NBA
Speaker 14: career in portlet He made seven All Star Games, but
Speaker 14: I'm happy with the Blazers, who've had five recent first
Speaker 14: rand playoff exits and didn't make the playoffs the last
Speaker 14: two seasons. He's been traded to Milwaukee, where he and
Speaker 14: Giannis so to the Compo might just become the NBA's
Speaker 14: top one two punch. The Bucks are now favored to
Speaker 14: win the NBA Championship. He was a three team trade
Speaker 14: with Phoenix. The Sons get four players, including Grayson Allen
Speaker 14: and Joseph Nurkic.
Speaker 11: The Blazers get Drew.
Speaker 14: Holliday and DeAndre Eighton. Lillard averaged thirty two points a
Speaker 14: game last season. No player who scored that much has
Speaker 14: ever then changed teams. The two rookie quarterbacks who didn't
Speaker 14: play last week are expected to return Sunday, Carolinas Bryce
Speaker 14: Young from the injured ankle, and the Colts Anthony Richardson
Speaker 14: from the concussion. The Raiders QB Jimmy Garoppolo is still
Speaker 14: in concussion protocol, and the Saints Derek Carr says if
Speaker 14: he can play Sunday to but an injured shoulder, he will.
Speaker 14: The game tonight is Detroit and Green Bay, Texas Rangers
Speaker 14: moving closer to winning the AL West with five nothing
Speaker 14: win over the Angels. The Red Sox lost five nothing
Speaker 14: at Fenway to Tampa Bay, the Orioles being Washington five
Speaker 14: to one. Baltimore's ninety ninth win of the season. Giants
Speaker 14: lost to San Diego five to two. The A's one
Speaker 14: hundred and ten temp loss of the season was in Minnesota,
Speaker 14: sixth to four. Terry Francona's final home game as manager
Speaker 14: of the Cleveland Guardians. He's retiring after this weekend. Mepton
Speaker 14: Marlin split a doubleheader in New York. The Marlins and
Speaker 14: Cubs are now tied for the second wildcard of the
Speaker 14: Nationalist John Stashie Our Bloomberg Sports.
Speaker 8: From coast to coast, from New York to San Francisco,
Speaker 8: Boston to Washington, DC, nationwide on Syrias Exam.
Speaker 9: The Bloomberg Business app in Bloomberg dot com. This is
Speaker 9: Bloomberg Daybreak.
Speaker 1: Good morning.
Speaker 3: I'm Nathan Hager. For more than a year, Texas Governor
Speaker 3: Greg Abbott has been busing migrants from the southern border
Speaker 3: to places like New York, Washington, and Chicago. That has
Speaker 3: prompted angry complaints from Democratic leaders in those cities. Now,
Speaker 3: the Republican governor is asking that they join him in
Speaker 3: urging President Biden to enforce immigration laws that are already
Speaker 3: on the books and take a harder stance on stemming
Speaker 3: the migrant surge. Governor Abbott visited Bloomberg's World headquarters in
Speaker 3: New York and spoke with Bloomberg's Julie Fine.
Speaker 15: I want to return to the migrants here in New
Speaker 15: York City. Mayor Adams has repeatedly warned of rising costs
Speaker 15: to house and to care for them. Was your intention
Speaker 15: in starting Operation Loan Star to get democratic cities like
Speaker 15: New York and the federal government to do something to
Speaker 15: put pressure on them with the border, Like what's the
Speaker 15: endgame here, So.
Speaker 7: That was not the intention at all. The beginning game
Speaker 7: was to relieve the burden that was placed on small
Speaker 7: Texas towns on the border. Eagle Pass population twenty eight thousand.
Speaker 7: This past week they had ten thousand migrants coming to
Speaker 7: the town. One third of the population of Eagle Pass
Speaker 7: was occupied by migrants, and then del Rio, etc. And
Speaker 7: then working with them, they said listen, we need help,
Speaker 7: and that's what led to the bussing operations to Washington,
Speaker 7: d C. New York, Chicago, LA, and elsewhere.
Speaker 15: But you specifically targeted democratic cities. We don't see them
Speaker 15: going frequently to very red cities in red states.
Speaker 9: You specifically targeted them.
Speaker 7: Well, what we did, first of all, before anybody gets
Speaker 7: on a bus and goes anywhere they go voluntarily, they
Speaker 7: self identify what city they want to go to. So
Speaker 7: the New York is purposefully chosen by the migrants as
Speaker 7: a location to go to point one. But point two,
Speaker 7: the only place that they are typically going to are
Speaker 7: cities that self identify as sanctuary cities, which may be
Speaker 7: one of the reasons why some of the migrants choose
Speaker 7: to go there.
Speaker 15: So you're saying, these migrants come off the bus and
Speaker 15: say take me to New York or are they given
Speaker 15: an option of democratic blue or cities?
Speaker 7: They are given an option about anywhere they want to go,
Speaker 7: and the number one choice of where they wanted to
Speaker 7: go was New York City.
Speaker 9: So they're not given a list of seven eight cities.
Speaker 7: They're not given specific lists that they were given opportunities
Speaker 7: tell us where you want to go, and they choose
Speaker 7: New York, Chicago and other lar cities that they've heard
Speaker 7: of before, or they may have family contacts in.
Speaker 15: So are their buses then going to cities that we
Speaker 15: don't know of, like Miami or in redder states?
Speaker 7: So right now there may not be, but because of
Speaker 7: the increase in the number of people coming across the border,
Speaker 7: there likely will be new destinations that people would be
Speaker 7: going to invesses.
Speaker 15: And those will include red cities and red states.
Speaker 9: We'll see.
Speaker 7: It depends on whether the migras choose.
Speaker 9: Okay, let's turn to the election here.
Speaker 15: Oh, by the way, you do say you blame President
Speaker 15: Biden for the current border situation. You've said that, you
Speaker 15: said his policies.
Speaker 9: Isn't there blame to go around? Though?
Speaker 15: When you look at former presidents, haven't solved this border crisis.
Speaker 15: Congress hasn't solved this border crisis. Republican and Democrat.
Speaker 7: To be clear, all the laws that are needed already
Speaker 7: in place. That was proven by President Trump three years ago.
Speaker 7: When Trump was still president, we had the lowest illegal
Speaker 7: border crossings in forty years. He had the remain in
Speaker 7: Mexico policy, the Title forty two policy, the end of
Speaker 7: catchum release, and building the border wall. When Biden was elected,
Speaker 7: he eliminated all of those policies and send a message
Speaker 7: to the entire world the border is open and he
Speaker 7: was not going to do anything to stop people from
Speaker 7: crossing the border illegally. All of what we are dealing with,
Speaker 7: whether it be in Texas or in New York, is
Speaker 7: a result of Joe Biden's open border policies. And I
Speaker 7: need to add this to be clear to your audience,
Speaker 7: and that is of all the migrats in New York City,
Speaker 7: Texas busts only about ten percent of the people here.
Speaker 7: Joe Biden sent the rest of them here.
Speaker 15: So you know, President Biden, while you say he's saying
Speaker 15: that it's open border policies, he has never said the words.
Speaker 9: The border is open.
Speaker 15: And again, do you think there's enough, you know, blame
Speaker 15: to go round between.
Speaker 7: Come to be clear, what he has said is you
Speaker 7: come here illegally, We're not going to send you back.
Speaker 7: That is messaging of open border policies. He has provided
Speaker 7: the magnet for people to come here, which is the
Speaker 7: opposite of what Trump did. Trump send a message that
Speaker 7: if you come here, we're going to send you back.
Speaker 7: If you try to come here, you're going to have
Speaker 7: to remain in Mexico. Because Joe Biden eliminated all of that.
Speaker 7: He said, basically, the border is open. We're going to
Speaker 7: do nothing to stop you. Julie gets worse. This was
Speaker 7: visual on TVs across the country. Texas erected razor wire
Speaker 7: Constantina barriers, preventing migrants from entering Texas illegally. Joe Biden's
Speaker 7: border patrol went and cut those wires, pulled them apart,
Speaker 7: opened them up, allowing thousands of migrants to enter Texas illegally.
Speaker 2: Wow.
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