1
00:00:02,440 --> 00:00:10,920
Speaker 1: Bloomberg Audio Studios, podcasts, radio news. It is the Bloomberg

2
00:00:10,960 --> 00:00:14,280
Speaker 1: Dabacurate podcast, available every morning on Apple, Spotify or wherever

3
00:00:14,320 --> 00:00:17,120
Speaker 1: you listen. It's Wednesday, the twenty fourth of July. Here

4
00:00:17,200 --> 00:00:21,480
Speaker 1: in London. I'm Caroline Hepke. Coming up today. Tesla prophet

5
00:00:21,560 --> 00:00:25,560
Speaker 1: falls short again as Musk demands investor patients and kicks

6
00:00:25,600 --> 00:00:30,320
Speaker 1: plans for a Robotaxi down the road. BNP Pariyberg cashes

7
00:00:30,440 --> 00:00:34,440
Speaker 1: in on French election on certainty as European banks report

8
00:00:34,479 --> 00:00:38,279
Speaker 1: earnings plus. Kamala Harris hits the campaign trail for the

9
00:00:38,280 --> 00:00:43,360
Speaker 1: first time as the presumptive Democratic nominee, with fresh polls

10
00:00:43,400 --> 00:00:47,000
Speaker 1: showing her closing in on Trump. Let's start with a

11
00:00:47,040 --> 00:00:50,240
Speaker 1: round up of our top stories. Tesla shares have fallen

12
00:00:50,320 --> 00:00:53,320
Speaker 1: after the ev maker reported a fourth quarter in a

13
00:00:53,479 --> 00:00:57,880
Speaker 1: row of disappointing profits. The company's operating income was one

14
00:00:57,880 --> 00:01:01,080
Speaker 1: point six billion dollars compared to the estimates of one

15
00:01:01,120 --> 00:01:05,080
Speaker 1: point eight billion. The electric vehicle giant also admitted that

16
00:01:05,200 --> 00:01:11,120
Speaker 1: it won't unveil a highly anticipated Robotaxi until October, and

17
00:01:11,200 --> 00:01:14,360
Speaker 1: that will only be a prototype during the earning school.

18
00:01:14,480 --> 00:01:17,040
Speaker 1: CEO Elon Musk discussed the delay.

19
00:01:17,560 --> 00:01:19,840
Speaker 2: I wanted to make some important changes that I think

20
00:01:19,840 --> 00:01:23,200
Speaker 2: would improve the sort of the robot taxi. I think

21
00:01:23,200 --> 00:01:24,440
Speaker 2: that I think that were the main thing that we're

22
00:01:24,440 --> 00:01:26,800
Speaker 2: going to show, and we're also going to show up

23
00:01:26,840 --> 00:01:28,200
Speaker 2: a couple of other things.

24
00:01:29,240 --> 00:01:32,520
Speaker 1: Musk's company is far off the pace of one point

25
00:01:32,560 --> 00:01:35,840
Speaker 1: eight million cars that it sold last year, and warned

26
00:01:35,840 --> 00:01:38,040
Speaker 1: for a second time that it expects to see a

27
00:01:38,200 --> 00:01:41,800
Speaker 1: notably lower growth rate in twenty twenty four. Tesla Scheer

28
00:01:41,840 --> 00:01:45,240
Speaker 1: has fell eight percent in extended New York trading, eating

29
00:01:45,280 --> 00:01:50,320
Speaker 1: into the stock's recent rally but not fully erasing it. Meanwhile,

30
00:01:50,360 --> 00:01:54,280
Speaker 1: Google parent Alphabet is reporting second quarter revenue that beat

31
00:01:54,360 --> 00:01:58,880
Speaker 1: analysts expectations. The results were boosted by demand for cloud

32
00:01:58,920 --> 00:02:04,360
Speaker 1: computing services and search advertising, but YouTube missed sales estimates.

33
00:02:04,600 --> 00:02:08,000
Speaker 1: We got reaction from Bloomberg Technologies ed Ludlow.

34
00:02:08,880 --> 00:02:11,919
Speaker 3: This was the first quarter where cloud revenues exceeded ten

35
00:02:11,960 --> 00:02:14,120
Speaker 3: billion dollars, but also for the first time they kind

36
00:02:14,120 --> 00:02:17,360
Speaker 3: of had more to show around artificial intelligence, all the

37
00:02:17,400 --> 00:02:20,160
Speaker 3: investment and work in that field. The way that Ruth

38
00:02:20,200 --> 00:02:23,880
Speaker 3: Parrott described it on the call with me was that, look,

39
00:02:24,000 --> 00:02:28,000
Speaker 3: it's AI infrastructure solutions and generative AI. They're meaningful drivers

40
00:02:28,000 --> 00:02:30,079
Speaker 3: of growth for the cloud business, and on the analyst call,

41
00:02:30,360 --> 00:02:33,800
Speaker 3: she kind of expanded and gave an almost granular kind

42
00:02:33,840 --> 00:02:36,160
Speaker 3: of run rate figure, which was that year to date

43
00:02:36,600 --> 00:02:39,560
Speaker 3: the company's generating billions of dollars in the context of

44
00:02:39,560 --> 00:02:43,080
Speaker 3: cloud from generative AI and AI infrastructure.

45
00:02:44,280 --> 00:02:47,920
Speaker 1: Ed Ludlow speaking there well, second quarter sales were seventy

46
00:02:47,960 --> 00:02:51,160
Speaker 1: one point four billion dollars, just ahead of an estimate

47
00:02:51,200 --> 00:02:56,639
Speaker 1: of seventy point seven billion. Alphabet shares fluctuated in extended trading.

48
00:02:56,880 --> 00:03:00,000
Speaker 1: The stock has gained thirty percent so far this year,

49
00:03:01,320 --> 00:03:05,840
Speaker 1: and consumer giant LVMH has reported muted sales for the

50
00:03:05,919 --> 00:03:09,120
Speaker 1: last quarter in big news here in Europe. The results

51
00:03:09,160 --> 00:03:13,280
Speaker 1: come amidst a luxury spending slump in China Bloomberg's Tea

52
00:03:13,280 --> 00:03:14,639
Speaker 1: where Adebayo has more.

53
00:03:14,960 --> 00:03:18,120
Speaker 4: Its brands include the likes of Louis Vuitton Fendi, but

54
00:03:18,320 --> 00:03:21,720
Speaker 4: household names weren't enough to bolster the sales at LVMH

55
00:03:21,800 --> 00:03:25,880
Speaker 4: last quarter. Wealthy customers reigned in spending, resulting in a

56
00:03:25,960 --> 00:03:29,120
Speaker 4: one percent rise in organic revenue from the fashion and

57
00:03:29,200 --> 00:03:32,880
Speaker 4: leather goods unit. That's just half the gain analyst expected

58
00:03:33,440 --> 00:03:36,960
Speaker 4: bond was coolest in China, which saw sales tumble fourteen

59
00:03:37,000 --> 00:03:40,880
Speaker 4: percent during the quarter, although the slump was partially offset

60
00:03:40,960 --> 00:03:45,680
Speaker 4: by strong spending from Chinese travelers overseas. Savvy shoppers from

61
00:03:45,680 --> 00:03:48,760
Speaker 4: the country took advantage of the week yen, prompting a

62
00:03:48,800 --> 00:03:53,520
Speaker 4: fifty seven percent increase in Japanese sales, but LVMH's CFO

63
00:03:53,800 --> 00:03:57,440
Speaker 4: says the practice is hurting their margins. In London, to

64
00:03:57,640 --> 00:03:59,320
Speaker 4: add a bio Bloomberg.

65
00:03:58,880 --> 00:04:04,840
Speaker 1: Radio now, BNP Pariber has beaten estimates with net income

66
00:04:04,880 --> 00:04:07,960
Speaker 1: of three point four billion euros in the second quarter.

67
00:04:08,360 --> 00:04:11,560
Speaker 1: The French bank's results showed profit of four hundred and

68
00:04:11,560 --> 00:04:16,799
Speaker 1: fifty million euros, higher than estimates on surging equities trading revenues,

69
00:04:17,080 --> 00:04:20,360
Speaker 1: giving a boost to the CEO's plan to raise profitability.

70
00:04:20,760 --> 00:04:25,560
Speaker 1: BNP Pariber's CFO, Lars Marschanil says that there has been

71
00:04:25,720 --> 00:04:28,080
Speaker 1: election volatility across Europe.

72
00:04:28,360 --> 00:04:31,159
Speaker 5: There was all that uncertainty that all of a sudden

73
00:04:31,200 --> 00:04:34,640
Speaker 5: started to crystallize out. Yeah, so you saw these evolutions.

74
00:04:34,680 --> 00:04:36,680
Speaker 5: You saw that what we had in the UK, you

75
00:04:36,680 --> 00:04:38,680
Speaker 5: saw it in France, you saw it in Belgium, you

76
00:04:38,720 --> 00:04:41,120
Speaker 5: saw it in many of those countries. And yes, there

77
00:04:41,200 --> 00:04:46,200
Speaker 5: was some overall European volatility related to the elections that

78
00:04:46,240 --> 00:04:47,719
Speaker 5: were going on all over the place.

79
00:04:48,400 --> 00:04:53,960
Speaker 1: NP Pariba, CFO Lars Maschil now BNP Pariber. The share

80
00:04:54,000 --> 00:04:57,039
Speaker 1: price for the lender is down about ten percent since

81
00:04:57,080 --> 00:05:02,480
Speaker 1: these snap French elections were called in and more breaking

82
00:05:02,560 --> 00:05:06,839
Speaker 1: news out of Europe today. Santander beat profit expectations in

83
00:05:06,880 --> 00:05:11,520
Speaker 1: the second quarter, even as net interest income slowed. Spain's

84
00:05:11,600 --> 00:05:14,679
Speaker 1: largest lender posted a profit of three point two billion

85
00:05:14,760 --> 00:05:17,640
Speaker 1: euros compared to the three point one to three billion

86
00:05:17,920 --> 00:05:22,320
Speaker 1: estimated by analysts, but a surge in interest income over

87
00:05:22,360 --> 00:05:24,600
Speaker 1: the last year and a half is now slowing as

88
00:05:24,640 --> 00:05:28,400
Speaker 1: central banks turn attention to rate cuts. Santander, of course,

89
00:05:28,480 --> 00:05:32,520
Speaker 1: overtook BNP parry Bat earlier this year to become the

90
00:05:32,560 --> 00:05:36,520
Speaker 1: European Union's most valuable bank on the back of record

91
00:05:36,520 --> 00:05:42,000
Speaker 1: profits and increased plans to return capital to investors. And

92
00:05:42,040 --> 00:05:44,880
Speaker 1: one more, of course, Deutsche Bank, which has reported second

93
00:05:44,960 --> 00:05:48,960
Speaker 1: quarter earnings that have come in below expectations. The German

94
00:05:49,040 --> 00:05:52,160
Speaker 1: lender reported a pre tax profit of four hundred and

95
00:05:52,240 --> 00:05:56,400
Speaker 1: eleven euros versus an estimate of close to four hundred

96
00:05:56,400 --> 00:06:00,679
Speaker 1: and ninety million euros. Fixed income trading revenue slightly below

97
00:06:00,720 --> 00:06:03,159
Speaker 1: the estimate two point one billion versus an estimate of

98
00:06:03,160 --> 00:06:06,560
Speaker 1: two point one five. CEO Christian Saving says in a

99
00:06:06,600 --> 00:06:09,400
Speaker 1: statement that the bank is on track to meet its

100
00:06:09,400 --> 00:06:13,839
Speaker 1: twenty twenty five goals and distribution commitments to shareholders. So

101
00:06:13,960 --> 00:06:17,400
Speaker 1: that from Deutsche Bank. Okay, So that's all of the earnings.

102
00:06:17,720 --> 00:06:21,599
Speaker 1: A quick moment to think about politics. Presidential hopeful Kamala

103
00:06:21,640 --> 00:06:25,640
Speaker 1: Harris is vowing to present her political record against rival

104
00:06:25,680 --> 00:06:30,520
Speaker 1: Donald Trump. Speaking to her first campaign rally in the

105
00:06:30,520 --> 00:06:34,120
Speaker 1: swing state of Wisconsin, the Vice president sought to draw

106
00:06:34,200 --> 00:06:37,880
Speaker 1: a stark contrast between their agendas.

107
00:06:38,600 --> 00:06:43,920
Speaker 4: Do we want to live in a country of freedom, compassion,

108
00:06:44,760 --> 00:06:45,920
Speaker 4: and rule of law.

109
00:06:47,279 --> 00:06:50,240
Speaker 6: Or a country of chaos, fear and hate.

110
00:06:53,839 --> 00:06:57,720
Speaker 1: Vice President Kamala Harris speaking they're at an event in Milwaukee.

111
00:06:57,760 --> 00:07:01,839
Speaker 1: The lightly Democratic nominee also promised to focus on healthcare

112
00:07:01,920 --> 00:07:06,279
Speaker 1: and childcare if elected, stating that building up the middle

113
00:07:06,279 --> 00:07:10,720
Speaker 1: class would be a defining goal. Meanwhile, the Trump campaign

114
00:07:10,800 --> 00:07:13,840
Speaker 1: has complained to the Federal Election Commission that the transfer

115
00:07:13,920 --> 00:07:18,000
Speaker 1: of Joe Biden's ninety six million dollars in campaign funding

116
00:07:18,080 --> 00:07:23,200
Speaker 1: to Kamala Harris is unlawful. Here in the UK. Meanwhile,

117
00:07:23,280 --> 00:07:26,680
Speaker 1: Kis Starmer has suspended seven of his own MPs for

118
00:07:26,800 --> 00:07:28,960
Speaker 1: rebelling on a key vote. It comes as the new

119
00:07:29,040 --> 00:07:31,640
Speaker 1: UK Prime Minister met one hundred and fifty business leaders

120
00:07:31,640 --> 00:07:34,960
Speaker 1: to promise stability and called for a new partnership with

121
00:07:35,040 --> 00:07:37,640
Speaker 1: the private sector. Bloomberg's James Orcock has more.

122
00:07:37,960 --> 00:07:41,480
Speaker 6: Kis Starmer suspended seven of his own MPs for daring

123
00:07:41,520 --> 00:07:44,040
Speaker 6: to vote against the new government last night. It's a

124
00:07:44,160 --> 00:07:47,360
Speaker 6: ruthless move designed to send a firm signal to his

125
00:07:47,480 --> 00:07:51,160
Speaker 6: party rebellion, especially from the left, will not be tolerated.

126
00:07:51,720 --> 00:07:55,720
Speaker 6: The decision also showcases Starmer's large majority. A less powerful

127
00:07:55,760 --> 00:07:59,080
Speaker 6: prime minister would have needed those votes. But it remains

128
00:07:59,080 --> 00:08:01,320
Speaker 6: to be seen if the PEO will end the issue,

129
00:08:01,520 --> 00:08:04,679
Speaker 6: or so the seeds of further internal disagreements to come

130
00:08:05,080 --> 00:08:07,480
Speaker 6: in London. James Wilcock, Bloomberg Radio.

131
00:08:07,840 --> 00:08:11,360
Speaker 1: Let's get some more then, on Tesla, which reported another

132
00:08:11,560 --> 00:08:16,000
Speaker 1: quarter of uninspiring profits. Shares in the EV maker dropped

133
00:08:16,040 --> 00:08:18,840
Speaker 1: eight percent after market. Elon Musk did give us a

134
00:08:18,920 --> 00:08:23,200
Speaker 1: date though, on when the Robotaxi would be unveiled. Let's

135
00:08:23,240 --> 00:08:27,160
Speaker 1: get more now. With Bloomberg's ev supply chain reporter Danny Lee,

136
00:08:27,200 --> 00:08:29,200
Speaker 1: who joins me, Good morning, Danny.

137
00:08:29,520 --> 00:08:30,680
Speaker 7: Good morning Caroline.

138
00:08:30,920 --> 00:08:33,920
Speaker 1: What were we expecting and why was it such a

139
00:08:33,920 --> 00:08:36,960
Speaker 1: big disappointment? What happened with these results?

140
00:08:37,640 --> 00:08:41,120
Speaker 7: I think the biggest disappointment is around the product lineup

141
00:08:41,200 --> 00:08:44,520
Speaker 7: of the future, which we see officially being kicked back

142
00:08:44,559 --> 00:08:48,240
Speaker 7: a little bit, both on the robotaxi and a bit

143
00:08:48,280 --> 00:08:53,000
Speaker 7: more specificity on the more affordable ev that Tesla has

144
00:08:53,040 --> 00:08:56,360
Speaker 7: been touting, which will be produced and sold in the

145
00:08:56,400 --> 00:08:59,480
Speaker 7: first half of twenty twenty five. So it's a little

146
00:08:59,480 --> 00:09:02,760
Speaker 7: bit further than what Tesla had been guiding towards initially.

147
00:09:03,240 --> 00:09:06,480
Speaker 7: But the frustration clearly is all around the earnings at

148
00:09:06,480 --> 00:09:09,280
Speaker 7: the moment, the fourth straight earnings decline in a row,

149
00:09:09,400 --> 00:09:11,560
Speaker 7: or the fourth straight miss in a row, and so

150
00:09:12,400 --> 00:09:16,480
Speaker 7: when you know Musk talks about pleading for patients, it's

151
00:09:16,520 --> 00:09:18,760
Speaker 7: clearly going to be a tough period during this twenty

152
00:09:18,800 --> 00:09:23,400
Speaker 7: twenty four of anemic lower growth, and so we did

153
00:09:23,440 --> 00:09:28,360
Speaker 7: see that come through in the profitability. Although revenue was up,

154
00:09:28,400 --> 00:09:32,839
Speaker 7: it was a revenue did beat on expectations, but clearly

155
00:09:32,920 --> 00:09:34,880
Speaker 7: when you have high costs coming to the business and

156
00:09:35,559 --> 00:09:38,600
Speaker 7: lots of talk as well on tariffs, which Eenil Musk

157
00:09:38,640 --> 00:09:41,880
Speaker 7: has a direct stake in given his, for example, support

158
00:09:41,920 --> 00:09:42,840
Speaker 7: of President Trump.

159
00:09:43,400 --> 00:09:48,040
Speaker 1: Yeah, no, absolutely, and also the robot taxi prototype that's

160
00:09:48,080 --> 00:09:51,240
Speaker 1: not going to be unveiled until the tenth of October.

161
00:09:51,640 --> 00:09:55,960
Speaker 1: I mean investors have big hopes for Tesla. How much

162
00:09:56,160 --> 00:09:59,320
Speaker 1: is the valuation based on what is to come?

163
00:10:00,280 --> 00:10:04,079
Speaker 7: Yeah, And this is where Elamask is trying to reframe

164
00:10:04,640 --> 00:10:08,640
Speaker 7: Tesla into more than just being an EV player, into

165
00:10:08,800 --> 00:10:10,959
Speaker 7: more of an AI trade. And so when you look

166
00:10:11,000 --> 00:10:13,319
Speaker 7: at the MAGS seven stocks you see the likes of

167
00:10:13,440 --> 00:10:16,880
Speaker 7: Navidio and others. Clearly Tesla has to do a lot

168
00:10:16,920 --> 00:10:19,880
Speaker 7: more to try and prove its credentials. And so with

169
00:10:20,200 --> 00:10:24,760
Speaker 7: stuff such as you know, having a robotaxi, having humanized robots,

170
00:10:24,760 --> 00:10:27,920
Speaker 7: and these are all things which will really boost this

171
00:10:28,080 --> 00:10:31,640
Speaker 7: kind of valuation. But clearly these are really hard things

172
00:10:31,679 --> 00:10:35,480
Speaker 7: to accomplish. And so by having pushed back officially on

173
00:10:35,520 --> 00:10:39,720
Speaker 7: the robotaxi date by a couple of months, it's still

174
00:10:39,720 --> 00:10:41,520
Speaker 7: only going to be a prototype and that's the problem.

175
00:10:41,920 --> 00:10:45,199
Speaker 7: How hard is it to get into a more realistic

176
00:10:46,000 --> 00:10:49,160
Speaker 7: kind of production and so there is that challenger, and

177
00:10:49,240 --> 00:10:53,480
Speaker 7: especially when you talk about autonomy or autonomous driving, these

178
00:10:53,480 --> 00:10:56,360
Speaker 7: components which underpin the product as well. If it doesn't

179
00:10:56,400 --> 00:11:00,679
Speaker 7: work as design and with the regulatory scrutiny, that's going

180
00:11:00,760 --> 00:11:03,800
Speaker 7: to really take a hit to its prospects and its

181
00:11:03,840 --> 00:11:06,000
Speaker 7: product line up off the future of which this very

182
00:11:06,040 --> 00:11:06,720
Speaker 7: much hinges on.

183
00:11:07,559 --> 00:11:13,040
Speaker 1: Yeah, absolutely, Elon Musk talking about using humanoid robots next year.

184
00:11:13,360 --> 00:11:16,040
Speaker 1: And thank you so much Danny for being with me,

185
00:11:16,160 --> 00:11:19,679
Speaker 1: Bloomberg's EV supply chain reporter Danny Lee there on the

186
00:11:19,720 --> 00:11:23,880
Speaker 1: Tesla results. One of the key results are driving markets

187
00:11:23,920 --> 00:11:26,280
Speaker 1: then today and last night of course in the US,

188
00:11:27,240 --> 00:11:30,240
Speaker 1: but I also want to talk about the politics in America.

189
00:11:30,280 --> 00:11:33,800
Speaker 1: With just over one hundred days before election day, the

190
00:11:34,040 --> 00:11:37,720
Speaker 1: likely Democratic nominee Kamala Harris held a rally in the

191
00:11:37,760 --> 00:11:41,079
Speaker 1: swing state of Wisconsin on Tuesday, criticizing Donald Trump. Was

192
00:11:41,280 --> 00:11:44,559
Speaker 1: talking about how she would proudly put her record against

193
00:11:44,600 --> 00:11:47,240
Speaker 1: Trump's any day of the week. Joining me now is

194
00:11:47,240 --> 00:11:50,360
Speaker 1: our senior editor Bill Ferries. Good morning, Bill. You've been

195
00:11:50,360 --> 00:11:53,040
Speaker 1: great in kind of passing what's been going on in

196
00:11:53,080 --> 00:11:58,120
Speaker 1: this political fray in the US. How did Harris reintroduce

197
00:11:58,160 --> 00:12:01,280
Speaker 1: herself to the nation on the paintred as it were?

198
00:12:01,840 --> 00:12:05,480
Speaker 1: It's thought that she will energize women and young voters,

199
00:12:05,520 --> 00:12:09,800
Speaker 1: and black and Hispanic voters in the US, perhaps also independence.

200
00:12:10,679 --> 00:12:12,920
Speaker 1: What was the tone like in the rally.

201
00:12:13,640 --> 00:12:16,880
Speaker 8: Well, I think you saw a lot more energy in

202
00:12:16,920 --> 00:12:20,240
Speaker 8: that campaign rally than what we've typically come to expect

203
00:12:20,280 --> 00:12:23,160
Speaker 8: in some of the Biden rallies. And listen, it's coming

204
00:12:23,240 --> 00:12:27,359
Speaker 8: after almost more than three weeks of the Democrats engaging

205
00:12:27,400 --> 00:12:31,840
Speaker 8: in this massive wave of infighting over should Biden step

206
00:12:31,880 --> 00:12:34,280
Speaker 8: off or should he not? And who would be the

207
00:12:34,320 --> 00:12:38,920
Speaker 8: nominee and who shouldn't be. So that is largely resolving

208
00:12:38,960 --> 00:12:42,840
Speaker 8: itself now, all behind Kamala Harris, and she took the

209
00:12:42,880 --> 00:12:45,760
Speaker 8: stage and there was a lot of enthusiasm in the crowd,

210
00:12:46,320 --> 00:12:51,319
Speaker 8: and she really leaned into her experience as a former prosecutor.

211
00:12:51,360 --> 00:12:54,800
Speaker 8: She was, of course, the Attorney general of California, and

212
00:12:54,880 --> 00:12:59,600
Speaker 8: she tried to basically remind the audience and voters of

213
00:12:59,840 --> 00:13:03,600
Speaker 8: the convictions that Donald Trump has faced, the court cases

214
00:13:03,640 --> 00:13:06,160
Speaker 8: he still has against him. She said that you know,

215
00:13:06,240 --> 00:13:09,960
Speaker 8: she's gone after predators and cheats and and so she

216
00:13:10,200 --> 00:13:12,680
Speaker 8: knows you know, this line that she has now she

217
00:13:12,800 --> 00:13:16,120
Speaker 8: knows Donald Trump's type. That got a huge roar from

218
00:13:16,200 --> 00:13:19,360
Speaker 8: the crowd. It's it just has a it has a

219
00:13:19,480 --> 00:13:23,200
Speaker 8: very different feel than what I think we u what

220
00:13:23,280 --> 00:13:26,480
Speaker 8: people had grown accustomed to in the previous months in

221
00:13:26,520 --> 00:13:27,120
Speaker 8: this campaign.

222
00:13:28,000 --> 00:13:30,719
Speaker 1: Also, the fundraising looks like more than two hundred and

223
00:13:30,760 --> 00:13:35,560
Speaker 1: fifty million dollars raise for Kamala Harris or the Democrats

224
00:13:35,600 --> 00:13:41,840
Speaker 1: since Biden dropped out. And also Trump his campaign challenging

225
00:13:42,000 --> 00:13:45,160
Speaker 1: the fact that Biden's war chest will go to Kamala Harris.

226
00:13:46,080 --> 00:13:50,240
Speaker 8: Right the Trump campaign filing trying to file a legal

227
00:13:51,880 --> 00:13:56,880
Speaker 8: suit against this decision to transfer it's ninety six million

228
00:13:56,920 --> 00:13:59,760
Speaker 8: dollars that was in the Biden Harris campaign war chest

229
00:14:00,120 --> 00:14:02,880
Speaker 8: to basically just allow that to get transferred over to

230
00:14:03,080 --> 00:14:08,120
Speaker 8: the Harris for President campaign. Most election law experts say

231
00:14:08,160 --> 00:14:12,240
Speaker 8: that that has little chance of going forward. Kamala Harris

232
00:14:12,320 --> 00:14:15,600
Speaker 8: was already on the ticket when those delegates were chosen

233
00:14:15,640 --> 00:14:18,880
Speaker 8: in the primaries, So it might be a different situation

234
00:14:19,000 --> 00:14:21,680
Speaker 8: if there had been a third a third person or

235
00:14:21,680 --> 00:14:24,080
Speaker 8: a different person picked who would have to come in

236
00:14:24,120 --> 00:14:27,560
Speaker 8: and set up their own legal structure and campaign basically

237
00:14:27,600 --> 00:14:31,360
Speaker 8: starting from zero from scratch. But yeah, yeah, a huge

238
00:14:31,360 --> 00:14:34,360
Speaker 8: amount of money flowing in partly reflective of money that

239
00:14:34,440 --> 00:14:37,560
Speaker 8: had been held on the sidelines over the last month,

240
00:14:37,600 --> 00:14:40,000
Speaker 8: and then I think there is just there is some

241
00:14:40,160 --> 00:14:43,000
Speaker 8: enthusiasm out there for you know, Kamala Harris would be

242
00:14:43,080 --> 00:14:46,480
Speaker 8: the first female president the United States has seen, so

243
00:14:46,560 --> 00:14:49,000
Speaker 8: that is that has drawing some attention in the same

244
00:14:49,040 --> 00:14:52,160
Speaker 8: way I think Hillary Clinton's candidacy did in twenty sixteen.

245
00:14:52,560 --> 00:14:52,760
Speaker 7: Yeah.

246
00:14:52,760 --> 00:14:55,920
Speaker 1: Absolutely. Just lastly, who do we expect to be Harris's

247
00:14:56,080 --> 00:14:58,280
Speaker 1: VP pick? This again is another big question.

248
00:14:58,400 --> 00:15:01,880
Speaker 8: Still, Yeah, the short list is still full of, you know,

249
00:15:02,520 --> 00:15:05,920
Speaker 8: leaders from some of these key battleground states. We're talking

250
00:15:05,960 --> 00:15:09,520
Speaker 8: about Governor Josh Shapiro of Pennsylvania. He has not been

251
00:15:09,560 --> 00:15:13,000
Speaker 8: in office long, but a Democrat winning in Pennsylvania, would

252
00:15:13,480 --> 00:15:16,560
Speaker 8: you know, could bring a lot. You have Mark Kelly,

253
00:15:16,560 --> 00:15:20,120
Speaker 8: the senator from Arizona, the former astronaut who could help

254
00:15:20,200 --> 00:15:23,920
Speaker 8: secure Arizona. Gretchen Whitmer would be the first would make

255
00:15:23,960 --> 00:15:27,560
Speaker 8: for the first female all female ticket in American history,

256
00:15:27,840 --> 00:15:31,119
Speaker 8: the governor of Michigan. So those are the kinds of candidates,

257
00:15:31,520 --> 00:15:34,360
Speaker 8: largely from battleground states that I think the Harris campaign

258
00:15:34,440 --> 00:15:35,520
Speaker 8: is going to be vetting quickly.

259
00:15:36,520 --> 00:15:39,280
Speaker 9: This is Bloomberg Daybreak Europe, your morning brief on the

260
00:15:39,320 --> 00:15:42,400
Speaker 9: stories making news from London to Wall Streets and beyond.

261
00:15:42,680 --> 00:15:46,640
Speaker 1: Look for us on your podcast feed every morning, on Apple, Spotify,

262
00:15:46,720 --> 00:15:48,680
Speaker 1: and anywhere else you get your podcasts.

263
00:15:48,720 --> 00:15:51,720
Speaker 9: You can also listen live each morning on London DAB Radio,

264
00:15:51,800 --> 00:15:54,480
Speaker 9: the Bloomberg Business app, and Bloomberg dot Com.

265
00:15:54,520 --> 00:15:57,280
Speaker 1: Our flagship New York station is also available on your

266
00:15:57,320 --> 00:16:02,040
Speaker 1: Amazon Alexa devices. Just say Alec play Bloomberg eleven thirty.

267
00:16:02,280 --> 00:16:03,680
Speaker 1: I'm Caroline Hepka.

268
00:16:03,440 --> 00:16:05,880
Speaker 9: And I'm Stephen Carol. Join us again tomorrow morning for

269
00:16:06,000 --> 00:16:08,360
Speaker 9: all the news you need to start your day right

270
00:16:08,400 --> 00:16:12,200
Speaker 9: here on Bloomberg Daybreak Europe