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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: This is the Bloomberg Daybreak europ podcast, available every morning

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Speaker 2: on Apple, Spotify or wherever you listen. It's Tuesday, the

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Speaker 2: twentieth of August in London. I'm Stephen Carroll coming up today.

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Speaker 2: Biden passes the torch to Harris. The US President calls

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Speaker 2: for democracy to be preserved. As the Democratic National Convention

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Speaker 2: kicks off in Chicago. Anthony Blincoln says Hummas must say

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Speaker 2: yes to a Gaza ceasefire proposal that's been accepted by Israel.

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Speaker 3: Plus the British tech.

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Speaker 2: Tycoon Michae Linch and five others remain unaccounted for after

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Speaker 2: a luxury yacht sinks off the coast of Sicily. Let's

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Speaker 2: start with a roundup of our top stories. US President

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Speaker 2: Joe Biden has delivered an emotional and bittersweet call for

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Speaker 2: Democrats to rally behind Kamala Harris on the first night

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Speaker 2: of the party's.

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Speaker 3: National convention in Chicago. The president's remarks.

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Speaker 2: Which began at eleven thirty pm on the East Coast

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Speaker 2: and stretched late into the night, focused on cementing his

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Speaker 2: legacy while also handing over to a new generation.

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Speaker 4: Selecting Kamawa was the very first decision I made before

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Speaker 4: I became when I became our nominee, and it was

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Speaker 4: the best decision I made.

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Speaker 3: My whole career.

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Speaker 4: Show me at president our children could.

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Speaker 3: Look up to.

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Speaker 2: Biden also cast his decision to exit the race following

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Speaker 2: a calamitous debate performance as the natural conclusion of a

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Speaker 2: five decade political career.

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Speaker 4: I spent the honor of my lifetime the service or President.

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Speaker 4: I love the job, but I love my country more.

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Speaker 2: The president was at times overwhelmed, stabbing tears from his

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Speaker 2: eyes after an introduction by his daughter, pledging to close

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Speaker 2: out the last five months of his presidency with accomplishments.

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Speaker 2: Joe Biden's speech came after his Vice president, Kamala Harris,

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Speaker 2: made a surprise appearance on the first night of the

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Speaker 2: Democratic National Convention in Chicago. The party's newly minted nominee

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Speaker 2: for the White House used a brief moment on stage

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Speaker 2: to thank the President for his service to the nation.

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Speaker 3: Joe, thank you for your historic leadership, for your lifetime

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Speaker 3: of service to our nation, and for all you will

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Speaker 3: continue to do.

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Speaker 1: We are forever grateful to you.

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Speaker 2: Harras secured the party's nomination uncontested after Biden threw his

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Speaker 2: support behind his vice president as he withdrew his bid

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Speaker 2: for reelection. Meanwhile, Hillary Clinton, the only woman asiderom Kamala

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Speaker 2: Harris to lead a major party presidential ticket, called on

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Speaker 2: Democrats to help the vice president break through the glass

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Speaker 2: ceiling and ascend to the presidency.

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Speaker 5: I see the freedom to look our children in the

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Speaker 5: eye and say, in America, you can go as far

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Speaker 5: as your hard work and talent will take you.

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Speaker 3: And mean it.

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Speaker 5: And you know what, And the other side of that

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Speaker 5: glass ceiling is Kamala Harris raising her.

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Speaker 1: Hand and taking the.

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Speaker 5: Oath of office as our forming seventh President of.

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Speaker 3: The United States.

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Speaker 2: Hillary Clinton lost to Donald Trump in twenty sixteen after

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Speaker 2: leading in the polls for much of the race. Current

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Speaker 2: nationwide polling averages give Harris a slim lead over Trump,

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Speaker 2: although still within.

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Speaker 3: The margin of error.

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Speaker 2: In other news, US intelligence agencies say they're confident Iran

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Speaker 2: is behind a recent hack of Donald Trump's presidential campaign.

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Speaker 2: Investigators believe that attackers gained access to internal documents relating

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Speaker 2: to the former president, but it's unclear whether attacks on

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Speaker 2: the Democratic campaign succeeded.

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Speaker 3: In a joint statement.

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Speaker 2: The agencies say Tehran sees American elections as consequential for

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Speaker 2: its national security interests. News of the breach emerged after

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Speaker 2: Microsoft flagged Iranian government attempts to access the emails of

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Speaker 2: campaign staff members.

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Speaker 3: In the Middle East, Anthony B.

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Speaker 2: Lincoln says Israel has accepted a ceasefire proposal to halt.

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Speaker 3: The war in Gaza.

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Speaker 2: According to the US Secretary of State, now Hamas must

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Speaker 2: say yes.

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Speaker 6: The fierce urgency of now, that's what I think we're

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Speaker 6: all feeling, and we do see this as the best

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Speaker 6: opportunity to finally get this over. The finish line will

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Speaker 6: never give up on it, but the challenges. The longer

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Speaker 6: this goes on, the more hostages will suffer and possibly perish,

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Speaker 6: and the more other things happen that could make things impossible.

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Speaker 2: Anthony Blincoln, speaking there during his ninth trip to the

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Speaker 2: Middle East since the conflict broke out, The top US

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Speaker 2: diplomat said he will next travel on to Egypt and

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Speaker 2: Katar to understand what their leaders are hearing from Hamas

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Speaker 2: on the next steps. Meanwhile, both Iran and Hezbollah have

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Speaker 2: vowed to retaliate against Israel for recent assassinations. It says

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Speaker 2: they committed. Blincoln's trip was seen in part as an

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Speaker 2: effort to deter such a strike. The British entrepreneur Mike

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Speaker 2: Lynch is among six people missing after his luxury yacht

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Speaker 2: was struck by a tornado and sunk off the coast

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Speaker 2: of Sicily. One person has died, according to the Italian Coastguard,

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Speaker 2: which is leading search operations. Oceanographer Simon Bauxholt knows the

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Speaker 2: area well.

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Speaker 7: He can get some quite horrendous storms. In fact, some

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Speaker 7: of the worst storms I've been in have been in

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Speaker 7: that region, and they do sort of build up very

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Speaker 7: very quickly. The sea temperatures in the area of four

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Speaker 7: degrees higher than sort of the twenty year average. They

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Speaker 7: really are very very warm, and that fuels these storms.

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Speaker 2: Simon Bauxhoff in the University of Southampton, speaking there. Lynch

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Speaker 2: was found not guilty by a San Francisco jury just

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Speaker 2: ten weeks ago over accusations that he had committed Silicon

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Speaker 2: Valley's biggest ever fraud during the eleven billion dollar sale

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Speaker 2: of his company, Autonomy, to Hewlett Packard in twenty eleven.

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Speaker 2: The European Central Bank policymaker says the case for a

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Speaker 2: September rate cut is growing stronger because of increasing risks

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Speaker 2: to the growth outlook. In a speech in New York,

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Speaker 2: pointed to no clear signs of a pickup in the

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Speaker 2: manufacturing sector as boosting the case for monetary easing. It's

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Speaker 2: the first comment from a Government Council member during the

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Speaker 2: ECB's summer break. Markets have priced in a quarter point

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Speaker 2: cut from the ECB at its next meeting on the

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Speaker 2: twelfth of September, and the UK Government has signed off

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Speaker 2: on London City Airport's plan to grow passenger numbers by

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Speaker 2: nearly a third. The move is designed to show the

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Speaker 2: government's pro growth credentials, but it's angered environmental campaigners who

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Speaker 2: say will increase carbon emissions. Bloomberg Exchange Wallcock has more.

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Speaker 8: London's smallest airport, has been pushing to fly more for

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Speaker 8: over two years. It had been blocked by its local

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Speaker 8: council of the fears about the noise, a decision that

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Speaker 8: Labor Government have now overruled. Greenpeace say the approval undermines

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Speaker 8: the UK's climate leadership. The argument over London City is

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Speaker 8: a smaller version of the much bigger debate of how

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Speaker 8: Britain bounces its environmental commitments with its growth targets in London.

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Speaker 2: James Wilcock the Radio, those are your top stories this morning.

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Speaker 2: Now at a moment, we'll dig into Joe Biden's speech

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Speaker 2: to the Democratic National Convention in Chicago and bring you

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Speaker 2: more on that story around the British entrepreneur Mike Lynch.

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Speaker 2: But in the story that we've been watching about the

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Speaker 2: DNC in Chicago has been the social media influencers the

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Speaker 2: Democrats have invited to be part of the media circus

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Speaker 2: at the event as well. Some two hundred of them

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Speaker 2: have been given privileges like access to delegates and studio

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Speaker 2: space on site in Chicago, a reflection of the campaign's

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Speaker 2: belief that social media creators are at least as important

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Speaker 2: as traditional media organizations for getting its message out to voters.

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Speaker 2: So some of those will also of course be making

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Speaker 2: speeches at the DNC. We saw Deja Fox speaking earlier

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Speaker 2: on on Monday evening in Chicago, of course, an influencer

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Speaker 2: that's focused on reproductive rights, which is seen as a

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Speaker 2: key issue for Kamala Harris to lead on in the

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Speaker 2: campaign as well.

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Speaker 3: She actually worked on Harris's failed.

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Speaker 2: Bid for the nomination in twenty two and she's now

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Speaker 2: based in Arizona, which is one of the key swing

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Speaker 2: states to watch in this campaign as well. But getting

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Speaker 2: social media influencers involved has also highlighted how sensitive the

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Speaker 2: issue over the warring gaza is for the Democratic Party.

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Speaker 2: And you can read more on that story from our

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Speaker 2: colleague Prattish naray Anon on Bloomberg dot com and of

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Speaker 2: course on the terminal. Let's stick into the comment so

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Speaker 2: that we heard from the President Joe Biden to the convention.

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Speaker 2: Our Bloomberg TV anchor Kritti Kopta was listening in and

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Speaker 2: she's with us now this morning. Critty, great to have you.

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Speaker 2: Joe Biden needed to show that he was handing over

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Speaker 2: the torch to Kamala Harris form a position of strength.

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Speaker 3: Did he succeed, He did succeed, But he.

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Speaker 9: Made a very quick appearance and then he's now off

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Speaker 9: to his vacation, his family vacation.

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Speaker 1: So it really shows that he's not dwelling on the issue.

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Speaker 9: He's trying to kind of show a support, show that

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Speaker 9: he is very much on board of a Kamala presidency,

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Speaker 9: but then ready to move forward and ready to kind

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Speaker 9: of focus on being president for the remainder.

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Speaker 1: Of his term.

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Speaker 3: What stout out for you from his speech.

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Speaker 9: Well, I think it was interesting is that he of

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Speaker 9: course endorsed her in a very big way. We already

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Speaker 9: knew that he had done that, but I think the

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Speaker 9: fact that he was greeted with a lot of we

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Speaker 9: love you Joe Biden, we like.

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Speaker 3: The Crimekeey Joe.

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Speaker 9: Yeah, the crowd was chanting. But remember the background of this.

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Speaker 9: He didn't want to step down. He didn't want to

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Speaker 9: be in this position. He actually, behind the scenes reports

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Speaker 9: has suggested that he thinks he still could have won

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Speaker 9: the election, but that it would have done irreparable.

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Speaker 1: Damage to his party.

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Speaker 9: So imagine still making that DNC appearance with the thought

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Speaker 9: process and with the idea that people are chanting for

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Speaker 9: and appreciating and cheering him on for the very fact

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Speaker 9: that he stepped down the very thing he did want

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Speaker 9: to do. So the fact that he's still able to

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Speaker 9: deliver a speech given the issues that he's had in

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Speaker 9: the past, with some of his kind of endurance issues,

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Speaker 9: and still be able to do that on the face that,

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Speaker 9: I thought that was pretty admirable.

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Speaker 3: Frankly, it was a marquee event.

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Speaker 2: Of course, the party Kamala Harris did make a quick

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Speaker 2: appearance on stage earlier on in the evening. We heard

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Speaker 2: from Hillary Clinton as well on that issue, though, of

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Speaker 2: the the war in Gaza as being something that potentially

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Speaker 2: Kamala Harris is vulnerable about. Alexandria Ocasio Cortez, who spoke

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Speaker 2: earlier in the evening as well, got one of the

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Speaker 2: biggest applause lines of the night by saying that Harris

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Speaker 2: was working to bring a cease fire in Gaza. Is

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Speaker 2: this a difficult issue for the vice president?

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Speaker 9: This is a very difficult issue, and this is where

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Speaker 9: she has actually been able to garner more support than

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Speaker 9: President Biden has remembered. This is the achilles heel for

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Speaker 9: the Democratic Party right now and for I think Americans broadly.

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Speaker 9: It has become a very divisive issue, as we've seen

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Speaker 9: across college campuses, among many many other different forums. And

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Speaker 9: one of the issues with President Biden and what we're

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Speaker 9: expected to see with the nominee Kamala Harris as well,

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Speaker 9: was what was going on in Dearborn, Michigan is kind

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Speaker 9: of a microcosm of what's going on in the broader country,

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Speaker 9: which is that they're losing out on not only the

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Speaker 9: Muslim vote, but then a lot of people who support

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Speaker 9: or at least don't so I should say, push back

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Speaker 9: against some of the atrocities that are happening in Gaza

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Speaker 9: as well, and the American administration being seen as supporting that.

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Speaker 1: So that was going to be the Achilles Heal.

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Speaker 9: But the fact that Kamala Harris has actually made an

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Speaker 9: active approach to say we're listening to the people who

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Speaker 9: are on both sides of this, We're willing to take

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Speaker 9: meetings on both sizes, They're still a step further than

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Speaker 9: Joe Biden has gone when it comes to appeasing that

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Speaker 9: part of the dialogue. And I think that's where she

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Speaker 9: started to see more supports, more of the independent voters

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Speaker 9: who've looked at both candidates to say, actually, this might

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Speaker 9: be a turning point for her. It's interesting though that

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Speaker 9: comment came out from aoc SO. Alexandra Ortasio cortest our

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Speaker 9: International audience. She is an up and comer in the

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Speaker 9: Democratic Party. She's a congresswoman from New York and also

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Speaker 9: represents of course the Latino vote, the minority vote, and

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Speaker 9: is aligned in a lot of issues with a lot

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Speaker 9: of the Muslim vote as well.

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Speaker 2: Yeah, it's certainly very interesting to hear her comments at

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Speaker 2: the event. Of course, Donald Trump doing his best to

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Speaker 2: garner some of the attention while very much political has

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Speaker 2: been focused on Chicago, focusing on division, Steene Harris and

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Speaker 2: Biden is not getting any traction.

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Speaker 1: It's not getting that much traction.

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Speaker 9: In fact, when you look at some of the polsters,

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Speaker 9: some the kind of political strategists, the concern here for

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Speaker 9: President Trump is that he actually hasn't been able to

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Speaker 9: regain the momentum. There was always going to be that

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Speaker 9: kind of knee jerk reaction that you saw when Kamala

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Speaker 9: Harris was going to be named Dominie, coming out kind

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Speaker 9: of with a bang. But this was kind of being

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Speaker 9: viewed initially, at least in the polling numbers, as a

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Speaker 9: little bit of a honeymoon phase, and then we were

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Speaker 9: expected to kind of see some of those Polly numbers

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Speaker 9: come back to President Trump in the lead. We haven't

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Speaker 9: seen that yet. Now we're still waiting till September when

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Speaker 9: there is remember still the summer period. People are so

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Speaker 9: on holiday. Not everyone is as engaged in politics right now.

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Speaker 9: In the States, it's striving season, nevertheless, but in September.

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Speaker 9: If you just continue to see that poll, those polling

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Speaker 9: numbers show the same lack of momentum. This is where

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Speaker 9: you get into trouble, and I think that's the concern

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Speaker 9: around some of the campaign strategy and the Trump campaign

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Speaker 9: right now.

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Speaker 2: Gritty good to Bimberg TV anchor. Thank you very much. Well,

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Speaker 2: let's turn into a different story that we're following now.

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Speaker 2: The British entrepreneur Mike Lynch among the six people missing

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Speaker 2: after a luxury yacht was struck by a tornado and

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Speaker 2: sunk off the coast of Sicily, are reported to at

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Speaker 2: a Baio is here with more on story, Tira, What

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Speaker 2: do we know about what happened?

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Speaker 10: So, as you mentioned, it was early Monday morning when

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Speaker 10: that luxury yacht sank off the coast of Sicily. On

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Speaker 10: board were twelve guests and ten crew members, among which

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Speaker 10: were the British tech entrepreneur Mike Lynch. Now currently he's

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Speaker 10: still missing. We have heard from some sources that his

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Speaker 10: wife Angela was amongst those rescued. Just to give you

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Speaker 10: a bit more context about who he really is, He's

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Speaker 10: an eminent figure in British business. He's known by some

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Speaker 10: as the British Bill Gates. He's the founder of multiple

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Speaker 10: technology companies, including dark Trace, which he founded through his

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Speaker 10: venture capital firm. That's a cyber security business. It has

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Speaker 10: a market cap of over four billion dollars and is

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Speaker 10: listed on the London Stock Exchange. And outside of that,

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Speaker 10: he's also been an advisor to two former UK Prime Ministers.

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Speaker 10: So a very important figure in the world of technology

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Speaker 10: and in the world of the wider UK landscape.

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Speaker 3: What do we know about the other people who were

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Speaker 3: on board this yea Well.

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Speaker 10: At the moment, Italy Coast Guard are leading the search

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Speaker 10: and rescue operation. They've recovered fifteen people. Unfortunately one person

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Speaker 10: has died. That leaves six missing, including Lynch, and just

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Speaker 10: in the last few moments we've heard from the BBC

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Speaker 10: that among those missing are a Morgan Stanley banker and

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Speaker 10: a Clifford Chance lawyer, as well as Mike Lynch's eighteen

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Speaker 10: year old daughter Hannah, who's also been reported unaccounted for.

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Speaker 10: In terms of what's being put on in terms of

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Speaker 10: the rescue effort, there's a team of specialized divers that

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Speaker 10: have been employed to look for any individuals that might

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Speaker 10: still be inside the boat. That's now fifty meters underwater.

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Speaker 10: There's also a helicopter that's been drafted in, as well

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Speaker 10: as the fire brigade who have joined the search. In

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Speaker 10: terms of what's happened over the course of those few

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Speaker 10: hours since the sinking on Monday, there's been some quite

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Speaker 10: astonishing stories coming out of this rescue mission, including the

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Speaker 10: story of one British mother who has now been rescued.

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Speaker 10: We know that she is a colleague of Mike Lynch.

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Speaker 10: She says she kept her baby alive after the boat

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Speaker 10: sank by holding the one year old child above the

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Speaker 10: water until the two were able to get into a

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Speaker 10: rescue boat. She says her family only survived because they

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Speaker 10: were on the deck of the boat at the time

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Speaker 10: that it sank too.

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Speaker 2: Yes, and still, of course that search and rescue mission underway, Teawa.

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Speaker 2: I wonder if also you could just briefist a little

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Speaker 2: bit on what we know about the trip at South MIKEA.

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Speaker 2: Linch had been in the news recently because he was

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Speaker 2: cleared just weeks ago on fraud charges.

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Speaker 10: Yes, this is perhaps one of the most surprising parts

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Speaker 10: of the story. So back in twenty eleven, Lynch made

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Speaker 10: his riches really by selling his company to the US

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Speaker 10: computing giant Hewlett Packard for eleven billion, but he had

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Speaker 10: been embroiled in a decade long legal battle about the acquisition.

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Speaker 10: He was accused of committing Silicon Valley's biggest ever fraud

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Speaker 10: during the sale, but he was found not guilty in

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Speaker 10: San Francisco just ten weeks ago, and they were supposed

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Speaker 10: to be celebrating.

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