WEBVTT - Tesla Underwhelms Once Again, Harris' First Rally & Starmer Suspends MPs

0:00:02.440 --> 0:00:10.920
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news. It is the Bloomberg

0:00:10.960 --> 0:00:14.280
<v Speaker 1>Dabacurate podcast, available every morning on Apple, Spotify or wherever

0:00:14.320 --> 0:00:17.120
<v Speaker 1>you listen. It's Wednesday, the twenty fourth of July. Here

0:00:17.200 --> 0:00:21.480
<v Speaker 1>in London. I'm Caroline Hepke. Coming up today. Tesla prophet

0:00:21.560 --> 0:00:25.560
<v Speaker 1>falls short again as Musk demands investor patients and kicks

0:00:25.600 --> 0:00:30.320
<v Speaker 1>plans for a Robotaxi down the road. BNP Pariyberg cashes

0:00:30.440 --> 0:00:34.440
<v Speaker 1>in on French election on certainty as European banks report

0:00:34.479 --> 0:00:38.279
<v Speaker 1>earnings plus. Kamala Harris hits the campaign trail for the

0:00:38.280 --> 0:00:43.360
<v Speaker 1>first time as the presumptive Democratic nominee, with fresh polls

0:00:43.400 --> 0:00:47.000
<v Speaker 1>showing her closing in on Trump. Let's start with a

0:00:47.040 --> 0:00:50.240
<v Speaker 1>round up of our top stories. Tesla shares have fallen

0:00:50.320 --> 0:00:53.320
<v Speaker 1>after the ev maker reported a fourth quarter in a

0:00:53.479 --> 0:00:57.880
<v Speaker 1>row of disappointing profits. The company's operating income was one

0:00:57.880 --> 0:01:01.080
<v Speaker 1>point six billion dollars compared to the estimates of one

0:01:01.120 --> 0:01:05.080
<v Speaker 1>point eight billion. The electric vehicle giant also admitted that

0:01:05.200 --> 0:01:11.120
<v Speaker 1>it won't unveil a highly anticipated Robotaxi until October, and

0:01:11.200 --> 0:01:14.360
<v Speaker 1>that will only be a prototype during the earning school.

0:01:14.480 --> 0:01:17.040
<v Speaker 1>CEO Elon Musk discussed the delay.

0:01:17.560 --> 0:01:19.840
<v Speaker 2>I wanted to make some important changes that I think

0:01:19.840 --> 0:01:23.200
<v Speaker 2>would improve the sort of the robot taxi. I think

0:01:23.200 --> 0:01:24.440
<v Speaker 2>that I think that were the main thing that we're

0:01:24.440 --> 0:01:26.800
<v Speaker 2>going to show, and we're also going to show up

0:01:26.840 --> 0:01:28.200
<v Speaker 2>a couple of other things.

0:01:29.240 --> 0:01:32.520
<v Speaker 1>Musk's company is far off the pace of one point

0:01:32.560 --> 0:01:35.840
<v Speaker 1>eight million cars that it sold last year, and warned

0:01:35.840 --> 0:01:38.040
<v Speaker 1>for a second time that it expects to see a

0:01:38.200 --> 0:01:41.800
<v Speaker 1>notably lower growth rate in twenty twenty four. Tesla Scheer

0:01:41.840 --> 0:01:45.240
<v Speaker 1>has fell eight percent in extended New York trading, eating

0:01:45.280 --> 0:01:50.320
<v Speaker 1>into the stock's recent rally but not fully erasing it. Meanwhile,

0:01:50.360 --> 0:01:54.280
<v Speaker 1>Google parent Alphabet is reporting second quarter revenue that beat

0:01:54.360 --> 0:01:58.880
<v Speaker 1>analysts expectations. The results were boosted by demand for cloud

0:01:58.920 --> 0:02:04.360
<v Speaker 1>computing services and search advertising, but YouTube missed sales estimates.

0:02:04.600 --> 0:02:08.000
<v Speaker 1>We got reaction from Bloomberg Technologies ed Ludlow.

0:02:08.880 --> 0:02:11.919
<v Speaker 3>This was the first quarter where cloud revenues exceeded ten

0:02:11.960 --> 0:02:14.120
<v Speaker 3>billion dollars, but also for the first time they kind

0:02:14.120 --> 0:02:17.360
<v Speaker 3>of had more to show around artificial intelligence, all the

0:02:17.400 --> 0:02:20.160
<v Speaker 3>investment and work in that field. The way that Ruth

0:02:20.200 --> 0:02:23.880
<v Speaker 3>Parrott described it on the call with me was that, look,

0:02:24.000 --> 0:02:28.000
<v Speaker 3>it's AI infrastructure solutions and generative AI. They're meaningful drivers

0:02:28.000 --> 0:02:30.079
<v Speaker 3>of growth for the cloud business, and on the analyst call,

0:02:30.360 --> 0:02:33.800
<v Speaker 3>she kind of expanded and gave an almost granular kind

0:02:33.840 --> 0:02:36.160
<v Speaker 3>of run rate figure, which was that year to date

0:02:36.600 --> 0:02:39.560
<v Speaker 3>the company's generating billions of dollars in the context of

0:02:39.560 --> 0:02:43.080
<v Speaker 3>cloud from generative AI and AI infrastructure.

0:02:44.280 --> 0:02:47.920
<v Speaker 1>Ed Ludlow speaking there well, second quarter sales were seventy

0:02:47.960 --> 0:02:51.160
<v Speaker 1>one point four billion dollars, just ahead of an estimate

0:02:51.200 --> 0:02:56.639
<v Speaker 1>of seventy point seven billion. Alphabet shares fluctuated in extended trading.

0:02:56.880 --> 0:03:00.000
<v Speaker 1>The stock has gained thirty percent so far this year,

0:03:01.320 --> 0:03:05.840
<v Speaker 1>and consumer giant LVMH has reported muted sales for the

0:03:05.919 --> 0:03:09.120
<v Speaker 1>last quarter in big news here in Europe. The results

0:03:09.160 --> 0:03:13.280
<v Speaker 1>come amidst a luxury spending slump in China Bloomberg's Tea

0:03:13.280 --> 0:03:14.639
<v Speaker 1>where Adebayo has more.

0:03:14.960 --> 0:03:18.120
<v Speaker 4>Its brands include the likes of Louis Vuitton Fendi, but

0:03:18.320 --> 0:03:21.720
<v Speaker 4>household names weren't enough to bolster the sales at LVMH

0:03:21.800 --> 0:03:25.880
<v Speaker 4>last quarter. Wealthy customers reigned in spending, resulting in a

0:03:25.960 --> 0:03:29.120
<v Speaker 4>one percent rise in organic revenue from the fashion and

0:03:29.200 --> 0:03:32.880
<v Speaker 4>leather goods unit. That's just half the gain analyst expected

0:03:33.440 --> 0:03:36.960
<v Speaker 4>bond was coolest in China, which saw sales tumble fourteen

0:03:37.000 --> 0:03:40.880
<v Speaker 4>percent during the quarter, although the slump was partially offset

0:03:40.960 --> 0:03:45.680
<v Speaker 4>by strong spending from Chinese travelers overseas. Savvy shoppers from

0:03:45.680 --> 0:03:48.760
<v Speaker 4>the country took advantage of the week yen, prompting a

0:03:48.800 --> 0:03:53.520
<v Speaker 4>fifty seven percent increase in Japanese sales, but LVMH's CFO

0:03:53.800 --> 0:03:57.440
<v Speaker 4>says the practice is hurting their margins. In London, to

0:03:57.640 --> 0:03:59.320
<v Speaker 4>add a bio Bloomberg.

0:03:58.880 --> 0:04:04.840
<v Speaker 1>Radio now, BNP Pariber has beaten estimates with net income

0:04:04.880 --> 0:04:07.960
<v Speaker 1>of three point four billion euros in the second quarter.

0:04:08.360 --> 0:04:11.560
<v Speaker 1>The French bank's results showed profit of four hundred and

0:04:11.560 --> 0:04:16.799
<v Speaker 1>fifty million euros, higher than estimates on surging equities trading revenues,

0:04:17.080 --> 0:04:20.360
<v Speaker 1>giving a boost to the CEO's plan to raise profitability.

0:04:20.760 --> 0:04:25.560
<v Speaker 1>BNP Pariber's CFO, Lars Marschanil says that there has been

0:04:25.720 --> 0:04:28.080
<v Speaker 1>election volatility across Europe.

0:04:28.360 --> 0:04:31.159
<v Speaker 5>There was all that uncertainty that all of a sudden

0:04:31.200 --> 0:04:34.640
<v Speaker 5>started to crystallize out. Yeah, so you saw these evolutions.

0:04:34.680 --> 0:04:36.680
<v Speaker 5>You saw that what we had in the UK, you

0:04:36.680 --> 0:04:38.680
<v Speaker 5>saw it in France, you saw it in Belgium, you

0:04:38.720 --> 0:04:41.120
<v Speaker 5>saw it in many of those countries. And yes, there

0:04:41.200 --> 0:04:46.200
<v Speaker 5>was some overall European volatility related to the elections that

0:04:46.240 --> 0:04:47.719
<v Speaker 5>were going on all over the place.

0:04:48.400 --> 0:04:53.960
<v Speaker 1>NP Pariba, CFO Lars Maschil now BNP Pariber. The share

0:04:54.000 --> 0:04:57.039
<v Speaker 1>price for the lender is down about ten percent since

0:04:57.080 --> 0:05:02.480
<v Speaker 1>these snap French elections were called in and more breaking

0:05:02.560 --> 0:05:06.839
<v Speaker 1>news out of Europe today. Santander beat profit expectations in

0:05:06.880 --> 0:05:11.520
<v Speaker 1>the second quarter, even as net interest income slowed. Spain's

0:05:11.600 --> 0:05:14.679
<v Speaker 1>largest lender posted a profit of three point two billion

0:05:14.760 --> 0:05:17.640
<v Speaker 1>euros compared to the three point one to three billion

0:05:17.920 --> 0:05:22.320
<v Speaker 1>estimated by analysts, but a surge in interest income over

0:05:22.360 --> 0:05:24.600
<v Speaker 1>the last year and a half is now slowing as

0:05:24.640 --> 0:05:28.400
<v Speaker 1>central banks turn attention to rate cuts. Santander, of course,

0:05:28.480 --> 0:05:32.520
<v Speaker 1>overtook BNP parry Bat earlier this year to become the

0:05:32.560 --> 0:05:36.520
<v Speaker 1>European Union's most valuable bank on the back of record

0:05:36.520 --> 0:05:42.000
<v Speaker 1>profits and increased plans to return capital to investors. And

0:05:42.040 --> 0:05:44.880
<v Speaker 1>one more, of course, Deutsche Bank, which has reported second

0:05:44.960 --> 0:05:48.960
<v Speaker 1>quarter earnings that have come in below expectations. The German

0:05:49.040 --> 0:05:52.160
<v Speaker 1>lender reported a pre tax profit of four hundred and

0:05:52.240 --> 0:05:56.400
<v Speaker 1>eleven euros versus an estimate of close to four hundred

0:05:56.400 --> 0:06:00.679
<v Speaker 1>and ninety million euros. Fixed income trading revenue slightly below

0:06:00.720 --> 0:06:03.159
<v Speaker 1>the estimate two point one billion versus an estimate of

0:06:03.160 --> 0:06:06.560
<v Speaker 1>two point one five. CEO Christian Saving says in a

0:06:06.600 --> 0:06:09.400
<v Speaker 1>statement that the bank is on track to meet its

0:06:09.400 --> 0:06:13.839
<v Speaker 1>twenty twenty five goals and distribution commitments to shareholders. So

0:06:13.960 --> 0:06:17.400
<v Speaker 1>that from Deutsche Bank. Okay, So that's all of the earnings.

0:06:17.720 --> 0:06:21.599
<v Speaker 1>A quick moment to think about politics. Presidential hopeful Kamala

0:06:21.640 --> 0:06:25.640
<v Speaker 1>Harris is vowing to present her political record against rival

0:06:25.680 --> 0:06:30.520
<v Speaker 1>Donald Trump. Speaking to her first campaign rally in the

0:06:30.520 --> 0:06:34.120
<v Speaker 1>swing state of Wisconsin, the Vice president sought to draw

0:06:34.200 --> 0:06:37.880
<v Speaker 1>a stark contrast between their agendas.

0:06:38.600 --> 0:06:43.920
<v Speaker 4>Do we want to live in a country of freedom, compassion,

0:06:44.760 --> 0:06:45.920
<v Speaker 4>and rule of law.

0:06:47.279 --> 0:06:50.240
<v Speaker 6>Or a country of chaos, fear and hate.

0:06:53.839 --> 0:06:57.720
<v Speaker 1>Vice President Kamala Harris speaking they're at an event in Milwaukee.

0:06:57.760 --> 0:07:01.839
<v Speaker 1>The lightly Democratic nominee also promised to focus on healthcare

0:07:01.920 --> 0:07:06.279
<v Speaker 1>and childcare if elected, stating that building up the middle

0:07:06.279 --> 0:07:10.720
<v Speaker 1>class would be a defining goal. Meanwhile, the Trump campaign

0:07:10.800 --> 0:07:13.840
<v Speaker 1>has complained to the Federal Election Commission that the transfer

0:07:13.920 --> 0:07:18.000
<v Speaker 1>of Joe Biden's ninety six million dollars in campaign funding

0:07:18.080 --> 0:07:23.200
<v Speaker 1>to Kamala Harris is unlawful. Here in the UK. Meanwhile,

0:07:23.280 --> 0:07:26.680
<v Speaker 1>Kis Starmer has suspended seven of his own MPs for

0:07:26.800 --> 0:07:28.960
<v Speaker 1>rebelling on a key vote. It comes as the new

0:07:29.040 --> 0:07:31.640
<v Speaker 1>UK Prime Minister met one hundred and fifty business leaders

0:07:31.640 --> 0:07:34.960
<v Speaker 1>to promise stability and called for a new partnership with

0:07:35.040 --> 0:07:37.640
<v Speaker 1>the private sector. Bloomberg's James Orcock has more.

0:07:37.960 --> 0:07:41.480
<v Speaker 6>Kis Starmer suspended seven of his own MPs for daring

0:07:41.520 --> 0:07:44.040
<v Speaker 6>to vote against the new government last night. It's a

0:07:44.160 --> 0:07:47.360
<v Speaker 6>ruthless move designed to send a firm signal to his

0:07:47.480 --> 0:07:51.160
<v Speaker 6>party rebellion, especially from the left, will not be tolerated.

0:07:51.720 --> 0:07:55.720
<v Speaker 6>The decision also showcases Starmer's large majority. A less powerful

0:07:55.760 --> 0:07:59.080
<v Speaker 6>prime minister would have needed those votes. But it remains

0:07:59.080 --> 0:08:01.320
<v Speaker 6>to be seen if the PEO will end the issue,

0:08:01.520 --> 0:08:04.679
<v Speaker 6>or so the seeds of further internal disagreements to come

0:08:05.080 --> 0:08:07.480
<v Speaker 6>in London. James Wilcock, Bloomberg Radio.

0:08:07.840 --> 0:08:11.360
<v Speaker 1>Let's get some more then, on Tesla, which reported another

0:08:11.560 --> 0:08:16.000
<v Speaker 1>quarter of uninspiring profits. Shares in the EV maker dropped

0:08:16.040 --> 0:08:18.840
<v Speaker 1>eight percent after market. Elon Musk did give us a

0:08:18.920 --> 0:08:23.200
<v Speaker 1>date though, on when the Robotaxi would be unveiled. Let's

0:08:23.240 --> 0:08:27.160
<v Speaker 1>get more now. With Bloomberg's ev supply chain reporter Danny Lee,

0:08:27.200 --> 0:08:29.200
<v Speaker 1>who joins me, Good morning, Danny.

0:08:29.520 --> 0:08:30.680
<v Speaker 7>Good morning Caroline.

0:08:30.920 --> 0:08:33.920
<v Speaker 1>What were we expecting and why was it such a

0:08:33.920 --> 0:08:36.960
<v Speaker 1>big disappointment? What happened with these results?

0:08:37.640 --> 0:08:41.120
<v Speaker 7>I think the biggest disappointment is around the product lineup

0:08:41.200 --> 0:08:44.520
<v Speaker 7>of the future, which we see officially being kicked back

0:08:44.559 --> 0:08:48.240
<v Speaker 7>a little bit, both on the robotaxi and a bit

0:08:48.280 --> 0:08:53.000
<v Speaker 7>more specificity on the more affordable ev that Tesla has

0:08:53.040 --> 0:08:56.360
<v Speaker 7>been touting, which will be produced and sold in the

0:08:56.400 --> 0:08:59.480
<v Speaker 7>first half of twenty twenty five. So it's a little

0:08:59.480 --> 0:09:02.760
<v Speaker 7>bit further than what Tesla had been guiding towards initially.

0:09:03.240 --> 0:09:06.480
<v Speaker 7>But the frustration clearly is all around the earnings at

0:09:06.480 --> 0:09:09.280
<v Speaker 7>the moment, the fourth straight earnings decline in a row,

0:09:09.400 --> 0:09:11.560
<v Speaker 7>or the fourth straight miss in a row, and so

0:09:12.400 --> 0:09:16.480
<v Speaker 7>when you know Musk talks about pleading for patients, it's

0:09:16.520 --> 0:09:18.760
<v Speaker 7>clearly going to be a tough period during this twenty

0:09:18.800 --> 0:09:23.400
<v Speaker 7>twenty four of anemic lower growth, and so we did

0:09:23.440 --> 0:09:28.360
<v Speaker 7>see that come through in the profitability. Although revenue was up,

0:09:28.400 --> 0:09:32.839
<v Speaker 7>it was a revenue did beat on expectations, but clearly

0:09:32.920 --> 0:09:34.880
<v Speaker 7>when you have high costs coming to the business and

0:09:35.559 --> 0:09:38.600
<v Speaker 7>lots of talk as well on tariffs, which Eenil Musk

0:09:38.640 --> 0:09:41.880
<v Speaker 7>has a direct stake in given his, for example, support

0:09:41.920 --> 0:09:42.840
<v Speaker 7>of President Trump.

0:09:43.400 --> 0:09:48.040
<v Speaker 1>Yeah, no, absolutely, and also the robot taxi prototype that's

0:09:48.080 --> 0:09:51.240
<v Speaker 1>not going to be unveiled until the tenth of October.

0:09:51.640 --> 0:09:55.960
<v Speaker 1>I mean investors have big hopes for Tesla. How much

0:09:56.160 --> 0:09:59.320
<v Speaker 1>is the valuation based on what is to come?

0:10:00.280 --> 0:10:04.079
<v Speaker 7>Yeah, And this is where Elamask is trying to reframe

0:10:04.640 --> 0:10:08.640
<v Speaker 7>Tesla into more than just being an EV player, into

0:10:08.800 --> 0:10:10.959
<v Speaker 7>more of an AI trade. And so when you look

0:10:11.000 --> 0:10:13.319
<v Speaker 7>at the MAGS seven stocks you see the likes of

0:10:13.440 --> 0:10:16.880
<v Speaker 7>Navidio and others. Clearly Tesla has to do a lot

0:10:16.920 --> 0:10:19.880
<v Speaker 7>more to try and prove its credentials. And so with

0:10:20.200 --> 0:10:24.760
<v Speaker 7>stuff such as you know, having a robotaxi, having humanized robots,

0:10:24.760 --> 0:10:27.920
<v Speaker 7>and these are all things which will really boost this

0:10:28.080 --> 0:10:31.640
<v Speaker 7>kind of valuation. But clearly these are really hard things

0:10:31.679 --> 0:10:35.480
<v Speaker 7>to accomplish. And so by having pushed back officially on

0:10:35.520 --> 0:10:39.720
<v Speaker 7>the robotaxi date by a couple of months, it's still

0:10:39.720 --> 0:10:41.520
<v Speaker 7>only going to be a prototype and that's the problem.

0:10:41.920 --> 0:10:45.199
<v Speaker 7>How hard is it to get into a more realistic

0:10:46.000 --> 0:10:49.160
<v Speaker 7>kind of production and so there is that challenger, and

0:10:49.240 --> 0:10:53.480
<v Speaker 7>especially when you talk about autonomy or autonomous driving, these

0:10:53.480 --> 0:10:56.360
<v Speaker 7>components which underpin the product as well. If it doesn't

0:10:56.400 --> 0:11:00.679
<v Speaker 7>work as design and with the regulatory scrutiny, that's going

0:11:00.760 --> 0:11:03.800
<v Speaker 7>to really take a hit to its prospects and its

0:11:03.840 --> 0:11:06.000
<v Speaker 7>product line up off the future of which this very

0:11:06.040 --> 0:11:06.720
<v Speaker 7>much hinges on.

0:11:07.559 --> 0:11:13.040
<v Speaker 1>Yeah, absolutely, Elon Musk talking about using humanoid robots next year.

0:11:13.360 --> 0:11:16.040
<v Speaker 1>And thank you so much Danny for being with me,

0:11:16.160 --> 0:11:19.679
<v Speaker 1>Bloomberg's EV supply chain reporter Danny Lee there on the

0:11:19.720 --> 0:11:23.880
<v Speaker 1>Tesla results. One of the key results are driving markets

0:11:23.920 --> 0:11:26.280
<v Speaker 1>then today and last night of course in the US,

0:11:27.240 --> 0:11:30.240
<v Speaker 1>but I also want to talk about the politics in America.

0:11:30.280 --> 0:11:33.800
<v Speaker 1>With just over one hundred days before election day, the

0:11:34.040 --> 0:11:37.720
<v Speaker 1>likely Democratic nominee Kamala Harris held a rally in the

0:11:37.760 --> 0:11:41.079
<v Speaker 1>swing state of Wisconsin on Tuesday, criticizing Donald Trump. Was

0:11:41.280 --> 0:11:44.559
<v Speaker 1>talking about how she would proudly put her record against

0:11:44.600 --> 0:11:47.240
<v Speaker 1>Trump's any day of the week. Joining me now is

0:11:47.240 --> 0:11:50.360
<v Speaker 1>our senior editor Bill Ferries. Good morning, Bill. You've been

0:11:50.360 --> 0:11:53.040
<v Speaker 1>great in kind of passing what's been going on in

0:11:53.080 --> 0:11:58.120
<v Speaker 1>this political fray in the US. How did Harris reintroduce

0:11:58.160 --> 0:12:01.280
<v Speaker 1>herself to the nation on the paintred as it were?

0:12:01.840 --> 0:12:05.480
<v Speaker 1>It's thought that she will energize women and young voters,

0:12:05.520 --> 0:12:09.800
<v Speaker 1>and black and Hispanic voters in the US, perhaps also independence.

0:12:10.679 --> 0:12:12.920
<v Speaker 1>What was the tone like in the rally.

0:12:13.640 --> 0:12:16.880
<v Speaker 8>Well, I think you saw a lot more energy in

0:12:16.920 --> 0:12:20.240
<v Speaker 8>that campaign rally than what we've typically come to expect

0:12:20.280 --> 0:12:23.160
<v Speaker 8>in some of the Biden rallies. And listen, it's coming

0:12:23.240 --> 0:12:27.359
<v Speaker 8>after almost more than three weeks of the Democrats engaging

0:12:27.400 --> 0:12:31.840
<v Speaker 8>in this massive wave of infighting over should Biden step

0:12:31.880 --> 0:12:34.280
<v Speaker 8>off or should he not? And who would be the

0:12:34.320 --> 0:12:38.920
<v Speaker 8>nominee and who shouldn't be. So that is largely resolving

0:12:38.960 --> 0:12:42.840
<v Speaker 8>itself now, all behind Kamala Harris, and she took the

0:12:42.880 --> 0:12:45.760
<v Speaker 8>stage and there was a lot of enthusiasm in the crowd,

0:12:46.320 --> 0:12:51.319
<v Speaker 8>and she really leaned into her experience as a former prosecutor.

0:12:51.360 --> 0:12:54.800
<v Speaker 8>She was, of course, the Attorney general of California, and

0:12:54.880 --> 0:12:59.600
<v Speaker 8>she tried to basically remind the audience and voters of

0:12:59.840 --> 0:13:03.600
<v Speaker 8>the convictions that Donald Trump has faced, the court cases

0:13:03.640 --> 0:13:06.160
<v Speaker 8>he still has against him. She said that you know,

0:13:06.240 --> 0:13:09.960
<v Speaker 8>she's gone after predators and cheats and and so she

0:13:10.200 --> 0:13:12.680
<v Speaker 8>knows you know, this line that she has now she

0:13:12.800 --> 0:13:16.120
<v Speaker 8>knows Donald Trump's type. That got a huge roar from

0:13:16.200 --> 0:13:19.360
<v Speaker 8>the crowd. It's it just has a it has a

0:13:19.480 --> 0:13:23.200
<v Speaker 8>very different feel than what I think we u what

0:13:23.280 --> 0:13:26.480
<v Speaker 8>people had grown accustomed to in the previous months in

0:13:26.520 --> 0:13:27.120
<v Speaker 8>this campaign.

0:13:28.000 --> 0:13:30.719
<v Speaker 1>Also, the fundraising looks like more than two hundred and

0:13:30.760 --> 0:13:35.560
<v Speaker 1>fifty million dollars raise for Kamala Harris or the Democrats

0:13:35.600 --> 0:13:41.840
<v Speaker 1>since Biden dropped out. And also Trump his campaign challenging

0:13:42.000 --> 0:13:45.160
<v Speaker 1>the fact that Biden's war chest will go to Kamala Harris.

0:13:46.080 --> 0:13:50.240
<v Speaker 8>Right the Trump campaign filing trying to file a legal

0:13:51.880 --> 0:13:56.880
<v Speaker 8>suit against this decision to transfer it's ninety six million

0:13:56.920 --> 0:13:59.760
<v Speaker 8>dollars that was in the Biden Harris campaign war chest

0:14:00.120 --> 0:14:02.880
<v Speaker 8>to basically just allow that to get transferred over to

0:14:03.080 --> 0:14:08.120
<v Speaker 8>the Harris for President campaign. Most election law experts say

0:14:08.160 --> 0:14:12.240
<v Speaker 8>that that has little chance of going forward. Kamala Harris

0:14:12.320 --> 0:14:15.600
<v Speaker 8>was already on the ticket when those delegates were chosen

0:14:15.640 --> 0:14:18.880
<v Speaker 8>in the primaries, So it might be a different situation

0:14:19.000 --> 0:14:21.680
<v Speaker 8>if there had been a third a third person or

0:14:21.680 --> 0:14:24.080
<v Speaker 8>a different person picked who would have to come in

0:14:24.120 --> 0:14:27.560
<v Speaker 8>and set up their own legal structure and campaign basically

0:14:27.600 --> 0:14:31.360
<v Speaker 8>starting from zero from scratch. But yeah, yeah, a huge

0:14:31.360 --> 0:14:34.360
<v Speaker 8>amount of money flowing in partly reflective of money that

0:14:34.440 --> 0:14:37.560
<v Speaker 8>had been held on the sidelines over the last month,

0:14:37.600 --> 0:14:40.000
<v Speaker 8>and then I think there is just there is some

0:14:40.160 --> 0:14:43.000
<v Speaker 8>enthusiasm out there for you know, Kamala Harris would be

0:14:43.080 --> 0:14:46.480
<v Speaker 8>the first female president the United States has seen, so

0:14:46.560 --> 0:14:49.000
<v Speaker 8>that is that has drawing some attention in the same

0:14:49.040 --> 0:14:52.160
<v Speaker 8>way I think Hillary Clinton's candidacy did in twenty sixteen.

0:14:52.560 --> 0:14:52.760
<v Speaker 7>Yeah.

0:14:52.760 --> 0:14:55.920
<v Speaker 1>Absolutely. Just lastly, who do we expect to be Harris's

0:14:56.080 --> 0:14:58.280
<v Speaker 1>VP pick? This again is another big question.

0:14:58.400 --> 0:15:01.880
<v Speaker 8>Still, Yeah, the short list is still full of, you know,

0:15:02.520 --> 0:15:05.920
<v Speaker 8>leaders from some of these key battleground states. We're talking

0:15:05.960 --> 0:15:09.520
<v Speaker 8>about Governor Josh Shapiro of Pennsylvania. He has not been

0:15:09.560 --> 0:15:13.000
<v Speaker 8>in office long, but a Democrat winning in Pennsylvania, would

0:15:13.480 --> 0:15:16.560
<v Speaker 8>you know, could bring a lot. You have Mark Kelly,

0:15:16.560 --> 0:15:20.120
<v Speaker 8>the senator from Arizona, the former astronaut who could help

0:15:20.200 --> 0:15:23.920
<v Speaker 8>secure Arizona. Gretchen Whitmer would be the first would make

0:15:23.960 --> 0:15:27.560
<v Speaker 8>for the first female all female ticket in American history,

0:15:27.840 --> 0:15:31.119
<v Speaker 8>the governor of Michigan. So those are the kinds of candidates,

0:15:31.520 --> 0:15:34.360
<v Speaker 8>largely from battleground states that I think the Harris campaign

0:15:34.440 --> 0:15:35.520
<v Speaker 8>is going to be vetting quickly.

0:15:36.520 --> 0:15:39.280
<v Speaker 9>This is Bloomberg Daybreak Europe, your morning brief on the

0:15:39.320 --> 0:15:42.400
<v Speaker 9>stories making news from London to Wall Streets and beyond.

0:15:42.680 --> 0:15:46.640
<v Speaker 1>Look for us on your podcast feed every morning, on Apple, Spotify,

0:15:46.720 --> 0:15:48.680
<v Speaker 1>and anywhere else you get your podcasts.

0:15:48.720 --> 0:15:51.720
<v Speaker 9>You can also listen live each morning on London DAB Radio,

0:15:51.800 --> 0:15:54.480
<v Speaker 9>the Bloomberg Business app, and Bloomberg dot Com.

0:15:54.520 --> 0:15:57.280
<v Speaker 1>Our flagship New York station is also available on your

0:15:57.320 --> 0:16:02.040
<v Speaker 1>Amazon Alexa devices. Just say Alec play Bloomberg eleven thirty.

0:16:02.280 --> 0:16:03.680
<v Speaker 1>I'm Caroline Hepka.

0:16:03.440 --> 0:16:05.880
<v Speaker 9>And I'm Stephen Carol. Join us again tomorrow morning for

0:16:06.000 --> 0:16:08.360
<v Speaker 9>all the news you need to start your day right

0:16:08.400 --> 0:16:12.200
<v Speaker 9>here on Bloomberg Daybreak Europe