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Speaker 1: Good morning.

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Speaker 2: I'm Nathan Hager and I'm Karen Moscow. Here are the

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Speaker 2: stories we're following today.

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Speaker 3: We begin with breaking news overnight. Donald Trump now faces

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Speaker 3: a new set of criminal charges. For the fourth time,

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Speaker 3: a prosecutor has issued an indictment against the former president,

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Speaker 3: this time in Fulton County, Georgia, over efforts to overturn

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Speaker 3: the twenty twenty election. Eighteen co defendants are also facing charges,

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Speaker 3: including former New York City Mayor Rudy Giuliani and former

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Speaker 3: White House Chief of Staff Mark Meadows. Fulton County District

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Speaker 3: Attorney Fanny Willis says she is charging all nineteen defendants

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Speaker 3: under the state's racketeering law.

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Speaker 4: The indictment alleges that, rather than abide by Georgia's legal

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Speaker 4: process for election challenges, the defendants engaged in a criminal

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Speaker 4: racketeering enterprise to overturn Georgia's presidential election result.

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Speaker 3: Fulton County DA Fanny Willis says she has authorized arrest

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Speaker 3: warrants for the former president and his eighteen co defendants.

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Speaker 3: They have until August twenty fifth to surrender.

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Speaker 5: Well.

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Speaker 2: Nathan. Reaction is pouring into this latest indictment. Genie Shehanzeno

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Speaker 2: is a political contributor for Bloomberg.

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Speaker 6: This is a screaming indictment. It is long and it

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Speaker 6: is detailed. But she said in her comments, you have

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Speaker 6: a right to challenge the election in court, but you

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Speaker 6: cannot engage in a criminal racketeering activity to overturn the results.

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Speaker 6: And that's what all of these nineteen individuals, including the

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Speaker 6: former president and Rudolph Giuliani, Mark Meadows, and others are

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Speaker 6: charged with.

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Speaker 2: Genie Sanzeno notes the charges include one hundred and sixty

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Speaker 2: one specific acts of racketeering by the former president. Bloomberg

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Speaker 2: Law host jun Garosso says some are questioning the timing

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Speaker 2: of the late night indictment.

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Speaker 5: I am really surprised as to why she decided that

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Speaker 5: she had to do a press conference at eleven forty

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Speaker 5: five at night, when you know most people are not

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Speaker 5: going to be watching people who were interested in this.

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Speaker 5: And also it seeds into the Trump theory or the

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Speaker 5: Trump allegations that this is happening also fast, and she's

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Speaker 5: wrapping it up, and it's just an indication that she's

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Speaker 5: not taking a turn, even though we.

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Speaker 7: Know that she took two and a half years.

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Speaker 2: Bloomberg Law host Dean Grasso says the charges carry a

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Speaker 2: minimum sentence of five years in prison and a maximum

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Speaker 2: of twenty Karen.

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Speaker 3: Jeff Duncan is among those who testified before the Fulton

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Speaker 3: County grand Jury. He is a Republican and the former

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Speaker 3: lieutenant governor of Georgia. Duncan spoke to the Atlanta Journal

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Speaker 3: Constitution outside the courthouse does.

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Speaker 8: A pivot point for this country to do something more

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Speaker 8: than just stew on the twenty twenty election cycle. Right,

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Speaker 8: We're either going to as Republicans take our medicine and

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Speaker 8: realize the election wasn't rigged. Donald Trump was the worst

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Speaker 8: candidate ever in the history of the party, even worse

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Speaker 8: than Herschel Walker.

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Speaker 3: Former Georgia Lieutenant Governor Jeff Duncan testified before the Fulton

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Speaker 3: County Grand Jury after receiving a subpoena earlier this month.

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Speaker 2: Well, Nathan, we'll have more on this latest in men

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Speaker 2: coming up shortly, but first let's turn to the action

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Speaker 2: in financial markets this morning. China is in focus yet

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Speaker 2: again as data out of Beijing shows more evidence of

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Speaker 2: a slowdown in the economy that had China's central bank

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Speaker 2: cut interest rates overnight by the most in three years.

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Speaker 2: On Bloomberg Daybreak Asia Anda, Brian Curtis has the details

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Speaker 2: from Hong Kong.

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Speaker 9: The PBOC cut the rate on its one year MLF

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Speaker 9: loans by fifteen basis points to two and a half percent.

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Speaker 9: It also lowered the seven day reverse repo eight by

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Speaker 9: ten basis points to one point eight percent. July's industrial

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Speaker 9: output and retail sales missed estimates. Fixed asset investment from

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Speaker 9: January to July also was worse than expected. Also adding

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Speaker 9: to this, China will pause publishing its unemployment rate for

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Speaker 9: young people. Authorities say the government wants to iron out

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Speaker 9: complexities in the data. In June, the youth jobless rate

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Speaker 9: was twenty one percent in Hong Kong. Brian Curtis, Bloomberg

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Speaker 9: day Break.

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Speaker 3: All right, Brian, thank you, and staying in Asia, we

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Speaker 3: have an exclusive interview with the front runner in Taiwan's

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Speaker 3: presidential Lii Ching Da is currently vice president of Taiwan,

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Speaker 3: and he's promising to cooperate with China to achieve peace.

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Speaker 3: That's despite Beijing's refusal to acknowledge Taiwan as a sovereign country.

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Speaker 3: Li says voters face a choice about democracy itself.

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Speaker 10: We don't want to be enemies, we can be friend

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Speaker 10: and we love to see China can enjoy democracy and

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Speaker 10: freedom just like us. As long as SLAO is parity

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Speaker 10: and dignity, our door is always open. We are willing

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Speaker 10: to cooperate with China to advance peace and prosperity.

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Speaker 3: Taiwan Vice President Lii ching Da spoke exclusively to Bloomberg

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Speaker 3: as he kicks off a trip to the US. China's

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Speaker 3: Foreign ministry has condemned the visit.

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Speaker 2: Well back here in the US, Nathan, stocks are poised

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Speaker 2: to start the day with losses. Retail could be a

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Speaker 2: catalyst for traders today. Home Depot reports earnings this morning,

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Speaker 2: and we also get the July reading on US retail sales.

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Speaker 2: Economists forecast again of four tenths of a percent.

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Speaker 3: We're watching data in Europe Karen. UK wage growth is

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Speaker 3: accelerating at its strongest pace on record. Average pay in

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Speaker 3: the UK rows seven point eight percent in the second quarter.

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Speaker 3: That's the highest since records began in two thousand and one.

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Speaker 3: The reading likely means the Bank of England will keep

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Speaker 3: raising rates.

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Speaker 2: And finally, Nathan, let's get you the latest moves by

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Speaker 2: Warren Buffett. Regulatory filing show, Buffett's Berkshire Hathaway continues to

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Speaker 2: cut its stake, and Activision Blizzard. The conglomerate also exited

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Speaker 2: other positions in the second quarter, including Chevron. So it's

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Speaker 2: Buffett buying what looks like he's betting on housing, Berkshire

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Speaker 2: disclosed positions and home builders Dr Horton and VR and Lanar.

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Speaker 2: And it's five o seven on Wall Street Time now

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Speaker 2: for a look at some of the other stories making

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Speaker 2: news around the world. For that, we're joined by Bloomberg's

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Speaker 2: Amy Morris Amy, Good morning, Good.

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Speaker 3: Morning, Karen.

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Speaker 11: The death toll from the Malley wildfires has reached at

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Speaker 11: least ninety nine. Federal response teams are on the ground

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Speaker 11: in Mali helping with critical assistance with those who've lost everything.

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Speaker 11: Bloomberg's Nancy Lions has more on the government's response.

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Speaker 12: FEMA Administrator Dian Criswell says they're providing an immediate payment

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Speaker 12: of seven hundred dollars to each resident to cover essentials.

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Speaker 12: They're also using hotels to house those left homeless.

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Speaker 13: We do have adequate funding to do the response that

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Speaker 13: we're doing right now, but we will need additional funding

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Speaker 13: to ensure that all of our other recovery projects can

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Speaker 13: continue and not get delayed until the next FISTE year.

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Speaker 12: FEMA has warned that its disaster fund is projected to

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Speaker 12: fall into the red this month because of money already

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Speaker 12: committed to disasters. Officials have sought additional money from Congress.

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Speaker 12: Nancy Lyons Bloomberg.

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Speaker 11: Radio Hawaii Governor Josh Greens has more than eighty percent

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Speaker 11: of the structures destroyed were residential, and they were also

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Speaker 11: older buildings. That's created an environmental hazard.

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Speaker 14: There's asbestos in the air down there, and they're heavy metals,

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Speaker 14: and we're getting environmental assessments as rapidly as we can

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Speaker 14: from the Gartment of Health and EPAS is here.

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Speaker 11: Residents are also bracing for a higher death toll in

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Speaker 11: what is already the deadliest wildfire event in more than

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Speaker 11: a century in the US, as recovery efforts continue. First

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Speaker 11: Noah now NASA warning about a dramatic increase in the

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Speaker 11: Earth's climate temperature. Bloomberg's Ed Baxter brings us that part

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Speaker 11: of the story.

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Speaker 15: A direct warning about climate change from NASA Director Bill Nelson.

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Speaker 16: Folks, Mother nature is sending us a message, and that

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Speaker 16: message is we better act now.

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Speaker 15: And says the earth is warming at an alarming rate,

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Speaker 15: and what.

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Speaker 16: We find is that July of this year the temperatures

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Speaker 16: are the hottest ever.

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Speaker 15: On record, and he points to the droughts, the storms,

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Speaker 15: and wildfires like Maui. In San Francisco, I met Baxter

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Speaker 15: Bloomberg dabream.

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Speaker 3: Back in San Francisco.

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Speaker 11: Crime in that city has gotten so bad federal workers

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Speaker 11: are being told to work from home for the foreseeable future.

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Speaker 11: San Francisco Chronicle reports that Health and Human Services issued

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Speaker 11: the work from home advisory because of unsafe conditions around

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Speaker 11: the federal building.

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Speaker 17: There.

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Speaker 11: Global News twenty four hours a day, powered by more

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Speaker 11: than twenty seven hundred journalists and analysts in more than

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Speaker 11: one hundred twenty countries. I'm Amy Morris, and this is Bloomberg.

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Speaker 2: Karen. All right, Amy, thank you. It is five h

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Speaker 2: nine on Wall Street Time. Now for the Bloomberg Sports update.

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Speaker 2: Here's John Stashauer, John.

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Speaker 18: Karen Ezekiel Elliott and Dalvin Cook have been top nine

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Speaker 18: twenty backs of the NFL for several years. Both are

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Speaker 18: now joining new teams, and both those teams are in

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Speaker 18: the AFC East. Elliott spent seven years in Dallas, but

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Speaker 18: he lost his starting job there to Tony Pollard after

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Speaker 18: a season where he averaged under four yard per Carrie.

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Speaker 18: He's going to the Patriots for a one year deal

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Speaker 18: where he can make up to six million dollars. Is

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Speaker 18: gonna wear number fifteen, that was his number at Ohio State,

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Speaker 18: and Elliott will face his old team, the Patriots visit

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Speaker 18: the Cowboys on our October first cook four straight Pro

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Speaker 18: bowls in Minnesota, but he's coming off shoulder surgery in February.

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Speaker 18: Was released by the Vikings and he's signed with the Jets,

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Speaker 18: where he can make up to eight point six million.

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Speaker 18: Jets could only afford to do this because of the

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Speaker 18: thirty five million dollar pay cut that Aaron Rodgers agreed to.

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Speaker 18: Another running back is Jonathan Taylor. He's back at colts

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Speaker 18: camp but still on the physically unable to perform list

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Speaker 18: because of an ankle injury. In Taylor wants a new

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Speaker 18: contract with Indianapolis or a trade. Zach Martin was holding

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Speaker 18: out in Dallas. The six time All Pro guard has

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Speaker 18: ended the holdout. He's going to make eighteen million dollars

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Speaker 18: this year and next. The college football season will begin

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Speaker 18: with Georgia rank number one that had happened since two

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Speaker 18: thousand and eight. The Bulldogs of the two time defending

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Speaker 18: national champions Michigan is ranked second. Baseball Giants blown out

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Speaker 18: by Tampa Bay ten to two. A. He's lost in

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Speaker 18: Saint Louis seven to five. The Orioles a four to

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Speaker 18: one win at San Diego. The Yankees lost in Atlanta

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Speaker 18: eleven to three. John Stash Edward Bloomberg Sports.

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Speaker 7: From coast to coast, from New York to San Francisco,

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Speaker 7: Boston to Washington, DC, nationwide on Syrias exam the Bloomberg

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Speaker 7: Business app in Bloomberg dot com. This is Bloomberg Daybreak.

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Speaker 3: Good morning. I'm Nathan Hager, and once again, former President

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Speaker 3: Donald Trump faces criminal charges over efforts to overturn the

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Speaker 3: twenty twenty election. This latest indictment comes from Fulton County, Georgia,

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Speaker 3: and it includes eighteen co defendants. District Attorney Fanny Willis

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Speaker 3: is accusing all of them of violating state racketeering law

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Speaker 3: to accomplish.

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Speaker 4: The illegal goal of allowing Donald J. Trump to seize

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Speaker 4: the presidential term of office. Beginning on January twentieth, twenty one.

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Speaker 3: DA Fanny Willis announced the indictment late last night. She

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Speaker 3: says she hopes to try the former president and the

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Speaker 3: eighteen others within six months, and she's giving them ten

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Speaker 3: days to surrender for more. We're joined now by Greig Valier,

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Speaker 3: chief US policy strategist at AGF Investments. Your reaction, Greg

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Speaker 3: to the indictment and the timing, well.

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Speaker 17: Good morning, Nathan. I would say that the biggest problem

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Speaker 17: of all is that they cannot get this done in

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Speaker 17: six months or less. Despite what she said, I think

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Speaker 17: that if once you factor in appeals next year, it

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Speaker 17: could be election day November fifth of next year before

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Speaker 17: there's any resolution. With this many cases, this many indictments,

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Speaker 17: a decent percentage will drag into late twenty twenty four.

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Speaker 17: You could have a president or president elect who's been

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Speaker 17: found guilty.

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Speaker 3: Let's talk about this indictment specifically. We have eighteen co

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Speaker 3: defendants along with the former president. They're facing forty one

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Speaker 3: counts accused of one hundred and sixty one specific acts

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Speaker 3: in furtherance of a conspiracy to overturn the twenty twenty election.

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Speaker 3: It sounds a lot more sweeping than even what we

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Speaker 3: heard from the Special Counsel Jack Smith in a similar case.

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Speaker 17: Yeah, it really does. And I think that in all

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Speaker 17: of these cases there's a common theme, and that is

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Speaker 17: that the prosecutors want to get some plea bargains. Of

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Speaker 17: the eighteen people who were charged yesterday in Atlanta, I

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Speaker 17: think there's a decent chance that two or three or

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Speaker 17: four will cut a deal and make things even more

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Speaker 17: difficult for Donald Trump.

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Speaker 3: Does that add to the difficulty that you're implying here

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Speaker 3: in terms of the timing If we do start to

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Speaker 3: see some of these code defendants potentially make a deal

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Speaker 3: and potentially wine themselves up as witnesses against the former president.

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Speaker 17: It's entirely possible. I think that the prosecutors know that

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Speaker 17: a lot of these potential slippers, as you might say,

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Speaker 17: don't want to spend their late seventies in jail, and

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Speaker 17: that's entirely possible for somebody like Rudy Giuliani. So yeah,

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Speaker 17: I think there's a high likelihood that at least some

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Speaker 17: of them will flip.

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Speaker 3: What do you make of the scope of the investigation here?

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Speaker 3: It took two and a half years for Fanny Willis

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Speaker 3: to bring these charges that were highly anticipated, and it

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Speaker 3: looks from the indictment that it goes well beyond that

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Speaker 3: infamous find me the Vote's phone call that the former

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Speaker 3: president had with George's secretary of State.

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Speaker 17: Yeah. I think they have a lot of evidence that's

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Speaker 17: not been released yet in terms of harassment of voting officials,

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Speaker 17: in terms of trying to get these charges changed. So

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Speaker 17: my sense is that there's still a lot more in

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Speaker 17: these cases still to be brought out.

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Speaker 3: Do you get the sense that this is a stronger

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Speaker 3: case than some of the others. Does it stack up

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Speaker 3: that way for you?

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Speaker 17: You know, I s thought all along, Nathan, that the

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Speaker 17: strongest law could be the documents in Florida. That's a

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Speaker 17: pretty straightforward case. It's a felony. You can't take documents

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Speaker 17: out of the White House and bring them to your home.

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Speaker 17: All four of these are pretty strong, and I have

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Speaker 17: a hunch that the document case could be the first

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Speaker 17: one resolved.

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Speaker 3: Does it complicate that case to have this one brought now?

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Speaker 3: I mean we've talked before about how the schedule is

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Speaker 3: going to get I mean it is a lot more

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Speaker 3: complicated heading into a twenty twenty four presidential race, and

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Speaker 3: now you have all these overlapping cases potentially running up

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Speaker 3: against each other.

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Speaker 17: Absolutely, I mean you're going to have a president, someone

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Speaker 17: a candidate for the presidency actually having to campaign on

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Speaker 17: weekends on holidays. He's not going to be able to

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Speaker 17: campaign probably full time, because of all these charges. And

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Speaker 17: we shouldn't overlook the fact that Joe and Hunter Biden

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Speaker 17: are part of the narrative also. I think they will

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Speaker 17: be dragged into this. But what has been alleged in

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Speaker 17: terms of Trump far exceed in my opinion, what the

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Speaker 17: Bibles have done.

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