1 00:00:00,080 --> 00:00:03,000 Speaker 1: Karen, we begin with the most highly anticipated FED meeting 2 00:00:03,120 --> 00:00:06,720 Speaker 1: in years. Policymakers begin their two day session today with 3 00:00:06,760 --> 00:00:10,440 Speaker 1: a decision coming tomorrow. Central bankers have all been guaranteed 4 00:00:10,480 --> 00:00:13,320 Speaker 1: a first rate cut in more than four years, but 5 00:00:13,560 --> 00:00:16,400 Speaker 1: with just one day to go, markets are showing a 6 00:00:16,440 --> 00:00:19,400 Speaker 1: toss up between a quarter point or half point reduction. 7 00:00:19,920 --> 00:00:22,520 Speaker 1: Bill Dudley, former president of the New York Fed and 8 00:00:22,720 --> 00:00:26,000 Speaker 1: current Bloomberg opinion columnist, is calling for fifty. 9 00:00:26,320 --> 00:00:28,960 Speaker 2: Doing twenty five would have been awkward because it would 10 00:00:28,960 --> 00:00:32,160 Speaker 2: have disappointed market expectations. They probably would have shown only 11 00:00:32,159 --> 00:00:35,440 Speaker 2: another fifty basis points in their summary wreck and out projections, 12 00:00:35,600 --> 00:00:37,720 Speaker 2: so that they would be essentially saying we're goingly going 13 00:00:37,760 --> 00:00:39,560 Speaker 2: to do seventy five basis points this year when the 14 00:00:39,600 --> 00:00:42,120 Speaker 2: market was priced for about one hundred and twenty. So 15 00:00:42,159 --> 00:00:45,240 Speaker 2: I think doing fifty brings the Fed more in alignment 16 00:00:45,280 --> 00:00:47,879 Speaker 2: with the market, and it also fits the logic of 17 00:00:47,920 --> 00:00:48,320 Speaker 2: the moment. 18 00:00:48,680 --> 00:00:51,680 Speaker 1: Former New York Fed President Bill Dudley thinks inflation will 19 00:00:51,760 --> 00:00:53,280 Speaker 1: get back to near two percent. 20 00:00:53,880 --> 00:00:56,920 Speaker 3: Well, Nathan. Whatever the fedish sides, a rate cut could 21 00:00:56,920 --> 00:00:59,760 Speaker 3: be good news for investors. According to a Bloomberg News 22 00:00:59,880 --> 00:01:02,680 Speaker 3: No analysis of the past six FED using cycles going 23 00:01:02,720 --> 00:01:05,080 Speaker 3: back to nineteen eighty nine, the S and P five 24 00:01:05,160 --> 00:01:08,520 Speaker 3: hundred index treasuries and gold have typically risen as the 25 00:01:08,560 --> 00:01:11,720 Speaker 3: FED starts lowering rates. In the equity market, the SNP 26 00:01:11,959 --> 00:01:14,600 Speaker 3: is rallied by an average thirteen percent in the six 27 00:01:14,640 --> 00:01:17,840 Speaker 3: months after the Central Bank started cutting, except during the 28 00:01:17,920 --> 00:01:20,800 Speaker 3: recessionary years of two thousand and one and two thousand 29 00:01:20,840 --> 00:01:21,240 Speaker 3: and seven. 30 00:01:21,480 --> 00:01:21,720 Speaker 4: Karen. 31 00:01:21,800 --> 00:01:24,600 Speaker 1: Several tech stocks are in the news this morning. Shares 32 00:01:24,640 --> 00:01:28,640 Speaker 1: of Intel are jumping close to seven percent. Bloomberg's John 33 00:01:28,680 --> 00:01:32,440 Speaker 1: Tucker's following this, John, looks like Intel's landed a new customer. 34 00:01:32,840 --> 00:01:37,080 Speaker 5: Not just any customer, Nathan, It's Amazon. Amazon's AWS is 35 00:01:37,120 --> 00:01:40,600 Speaker 5: going to be a customer for Intel's manufacturing business. Intel 36 00:01:40,720 --> 00:01:44,280 Speaker 5: and AWS will coinvest in a fabric chip that's a 37 00:01:44,560 --> 00:01:49,280 Speaker 5: custom semiconductor for artificial intelligence computing. And now this potentially 38 00:01:49,280 --> 00:01:52,200 Speaker 5: brings work to new Intel plants under construction of the 39 00:01:52,280 --> 00:01:55,640 Speaker 5: US and both CEO Pat Gelsinger's efforts to turn around 40 00:01:55,680 --> 00:01:58,760 Speaker 5: the imbattled chip maker. Intel has been facing some pretty 41 00:01:58,760 --> 00:02:02,320 Speaker 5: tough times recently. They announced plans last month year recall 42 00:02:02,400 --> 00:02:06,040 Speaker 5: to slash fifteen thousand workers find ten billion dollars in 43 00:02:06,080 --> 00:02:09,840 Speaker 5: cost savings and also suspend their dividend. Well, Amazon Web 44 00:02:09,880 --> 00:02:12,840 Speaker 5: Services is the largest provider of cloud computing, and it 45 00:02:12,880 --> 00:02:16,760 Speaker 5: could help build confidence that Intel can compete. In another win, 46 00:02:17,080 --> 00:02:19,560 Speaker 5: Intel said that it's eligible to receive as much as 47 00:02:19,600 --> 00:02:23,240 Speaker 5: three billion dollars in US government funding to manufacture chips 48 00:02:23,280 --> 00:02:26,079 Speaker 5: for the military. Intel still has a pretty long way 49 00:02:26,120 --> 00:02:29,160 Speaker 5: to go to win back Wall Street's full confidence after 50 00:02:29,280 --> 00:02:32,400 Speaker 5: years of losing ground to rivals and seeing its technological 51 00:02:32,520 --> 00:02:36,360 Speaker 5: edge slip away. These Silicon Valley pioneers valued at less 52 00:02:36,360 --> 00:02:39,480 Speaker 5: than ninety billion dollars in New York. I'm John Tucker, 53 00:02:39,560 --> 00:02:40,480 Speaker 5: Bloomberg Radio. 54 00:02:40,800 --> 00:02:43,800 Speaker 3: All right, John, thank you well. Amazon CEO Andy Jassey 55 00:02:43,919 --> 00:02:46,760 Speaker 3: is ordering the e commerce companies employees to return to 56 00:02:46,840 --> 00:02:50,480 Speaker 3: working in the office five days a week beginning in January. 57 00:02:50,600 --> 00:02:53,000 Speaker 3: We get that story from Bloomberg Sturley Pellett. 58 00:02:53,160 --> 00:02:56,840 Speaker 4: Previously, Amazon could require employees to badge in at least 59 00:02:56,840 --> 00:03:00,480 Speaker 4: three days, depending on the requirements of their team. In 60 00:03:00,560 --> 00:03:03,880 Speaker 4: an ode to employees, Chassis said N's return to office 61 00:03:03,919 --> 00:03:09,400 Speaker 4: plans will make exceptions for extenuating circumstances or cases where 62 00:03:09,440 --> 00:03:13,959 Speaker 4: managers had already approved a fully remote position. Chassis also 63 00:03:14,040 --> 00:03:18,160 Speaker 4: taking aim at bureaucracy and layers of management. After Amazon 64 00:03:18,240 --> 00:03:22,120 Speaker 4: ballooned in size during the last decade. In New York, 65 00:03:22,240 --> 00:03:24,320 Speaker 4: Charlie Pellett Bloomberg Radio. 66 00:03:24,120 --> 00:03:26,760 Speaker 1: Thanks Charlie and sticking with big tech. Shares of Microsoft 67 00:03:26,919 --> 00:03:29,360 Speaker 1: up about one and a half percent. The software giant 68 00:03:29,440 --> 00:03:33,280 Speaker 1: unveiled the new sixty billion dollar stock buyback program. We 69 00:03:33,320 --> 00:03:35,320 Speaker 1: get the details from Bloomberg's Doug Prisner. 70 00:03:35,520 --> 00:03:38,360 Speaker 6: The plan has no expiration date and it replaces a 71 00:03:38,400 --> 00:03:41,440 Speaker 6: sixty billion dollar buyback program announced in twenty twenty one. 72 00:03:41,960 --> 00:03:45,920 Speaker 6: Microsoft also raised its quarterly dividend by ten percent. Now, 73 00:03:45,960 --> 00:03:49,400 Speaker 6: in recent years, Microsoft has benefited from market exuberants for 74 00:03:49,560 --> 00:03:53,680 Speaker 6: artificial intelligence. The software maker has infused its product line 75 00:03:53,760 --> 00:03:58,760 Speaker 6: with AI technology from partner OpenAI, and Microsoft has touted 76 00:03:58,760 --> 00:04:01,960 Speaker 6: the tool's ability to all augmented its business applications such 77 00:04:01,960 --> 00:04:06,600 Speaker 6: as Teams, Word and Outlook. Early on Monday, Microsoft released 78 00:04:06,640 --> 00:04:09,360 Speaker 6: a new range of AI tools in New York. I'm 79 00:04:09,400 --> 00:04:10,720 Speaker 6: Doug Prisoner, Bloomberg Radio. 80 00:04:11,000 --> 00:04:13,120 Speaker 3: All right, Doug, thank you. Now to the latest on 81 00:04:13,120 --> 00:04:16,719 Speaker 3: the presidential race and the apparent attempt on Donald Trump's life. 82 00:04:16,760 --> 00:04:19,640 Speaker 3: The former president talked about hearing shots ring out on 83 00:04:19,720 --> 00:04:22,719 Speaker 3: his golf course. During an X spaces event last night 84 00:04:23,040 --> 00:04:25,160 Speaker 3: promoting a crypto venture, I. 85 00:04:25,160 --> 00:04:28,200 Speaker 7: Was with an agent and the agent did a fantastic job. 86 00:04:28,240 --> 00:04:30,200 Speaker 2: There was no question that we were off that course. 87 00:04:30,760 --> 00:04:32,760 Speaker 8: I would have loved to have sank that last put, 88 00:04:33,360 --> 00:04:34,719 Speaker 8: but we decided. 89 00:04:34,360 --> 00:04:35,280 Speaker 9: We get out of here. 90 00:04:35,720 --> 00:04:38,720 Speaker 3: And in an earlier interview with Fox News, Trump blamed 91 00:04:38,880 --> 00:04:42,640 Speaker 3: Vice President Kamala Harris's rhetoric for inflaming the would be gunman, 92 00:04:42,720 --> 00:04:46,360 Speaker 3: though he didn't provide evidence. Bloomberg's Bill Ferries has more 93 00:04:46,520 --> 00:04:48,599 Speaker 3: on what we do know about the suspect. 94 00:04:48,880 --> 00:04:52,839 Speaker 8: The fifty eight year old suspect, Ryan Ralth, may have been, 95 00:04:52,880 --> 00:04:56,400 Speaker 8: according to his cellular phone data, spending about twelve hours 96 00:04:57,120 --> 00:04:59,720 Speaker 8: in the area where he was with his rifle and 97 00:04:59,760 --> 00:05:03,240 Speaker 8: back pack, waiting for the president a former president, to 98 00:05:03,360 --> 00:05:05,640 Speaker 8: show up. This is all according to the FBI and 99 00:05:05,680 --> 00:05:06,680 Speaker 8: police investigation. 100 00:05:07,080 --> 00:05:10,200 Speaker 3: Bloomberg's Bill Ferries reports. Ryan Routh is charged with two 101 00:05:10,240 --> 00:05:14,479 Speaker 3: firearm counts, including possession by a convicted felon. Meanwhile, the 102 00:05:14,600 --> 00:05:18,680 Speaker 3: latest USA Today Suffolk University poll shows Kamala Harris ahead 103 00:05:18,680 --> 00:05:22,440 Speaker 3: of Trump in Pennsylvania by three percentage points. That's within 104 00:05:22,480 --> 00:05:25,640 Speaker 3: the poll's four point four percent margin of error. The 105 00:05:25,720 --> 00:05:29,000 Speaker 3: survey was taken after last week's debate in Philadelphia. 106 00:05:29,080 --> 00:05:30,680 Speaker 1: I want to turn out to the Middle East, Karen 107 00:05:30,720 --> 00:05:34,039 Speaker 1: for our exclusive interview with Iraq's Prime Minister Mohammad Shia 108 00:05:34,120 --> 00:05:37,680 Speaker 1: al Sudani. He sat down with Bloomberg's Jumani Persecci in Baghdad. 109 00:05:37,920 --> 00:05:40,120 Speaker 1: It's older he plans to announce a timetable for the 110 00:05:40,160 --> 00:05:44,200 Speaker 1: withdrawal of US troops from his country. Speaking through an interpreter, 111 00:05:44,279 --> 00:05:47,880 Speaker 1: the Prime minister also commented on the upcoming US presidential election. 112 00:05:48,279 --> 00:05:50,960 Speaker 10: Of course, we respect the choice of the American people 113 00:05:51,120 --> 00:05:54,680 Speaker 10: according to the democratic process. We will deal with any 114 00:05:54,680 --> 00:05:58,560 Speaker 10: administration that gains confidence love. It's of interest to us 115 00:05:58,600 --> 00:06:00,960 Speaker 10: to activate the strategic fore work that was signed in 116 00:06:01,000 --> 00:06:03,760 Speaker 10: two thousand and eight and building a relationship based on 117 00:06:03,880 --> 00:06:08,080 Speaker 10: these principles of mutual interests and respecting Iraqi savaranty. 118 00:06:08,560 --> 00:06:12,680 Speaker 1: Iraq's Prime Minister Mohammad Shia Alsudani speaking with Bloomberg's Jumana Borsecci. 119 00:06:12,760 --> 00:06:13,320 Speaker 11: Stick with us. 120 00:06:13,320 --> 00:06:15,480 Speaker 1: We're going to bring you more of that exclusive conversation 121 00:06:15,600 --> 00:06:16,320 Speaker 1: in a few minutes. 122 00:06:16,720 --> 00:06:19,560 Speaker 3: And Nathan, another news this morning. For the six year 123 00:06:19,600 --> 00:06:23,279 Speaker 3: in a row, Stanford has topped a Bloomberg BusinessWeek's rankings 124 00:06:23,320 --> 00:06:26,919 Speaker 3: of best business schools in the country. The university maintains 125 00:06:26,960 --> 00:06:31,520 Speaker 3: strong scores, and four of the five areas we index compensation, learning, networking, 126 00:06:31,600 --> 00:06:35,359 Speaker 3: and entrepreneurship running out the top five Chicago's Booth School, 127 00:06:35,520 --> 00:06:43,640 Speaker 3: northwesterns Kellogg, Dartmouth's Talk, and Virginia's Dardin time now for 128 00:06:43,640 --> 00:06:45,400 Speaker 3: a look at some of the other stories making news 129 00:06:45,400 --> 00:06:47,400 Speaker 3: in New York and around the world. And for that 130 00:06:47,440 --> 00:06:50,320 Speaker 3: we're joined by Bloomberg's Michael Barr Michael good Morning, Good. 131 00:06:50,240 --> 00:06:53,920 Speaker 11: Morning, Karen, hip Hop mogul Sean Diddy Combs was arrested 132 00:06:54,000 --> 00:06:56,160 Speaker 11: late last night in New York, where he faces a 133 00:06:56,240 --> 00:07:00,800 Speaker 11: sealed criminal indictment. Combs has faced stream of allegations by 134 00:07:00,839 --> 00:07:04,040 Speaker 11: women in recent months who accused him of sexual assault. 135 00:07:04,400 --> 00:07:07,159 Speaker 11: The charges come from an investigation of Combs that was 136 00:07:07,200 --> 00:07:10,840 Speaker 11: revealed when Homeland Security agents raided his homes in Los 137 00:07:10,840 --> 00:07:18,400 Speaker 11: Angeles and Miami in March. Combs's lawyer called the prosecution unfair. Springfield, Ohio, 138 00:07:18,720 --> 00:07:21,360 Speaker 11: is in the spotlight and the race for the White House. 139 00:07:21,840 --> 00:07:25,520 Speaker 11: It started after former President Donald Trump repeated rumors during 140 00:07:25,520 --> 00:07:30,040 Speaker 11: the presidential debate last week about the Haitian immigrants legally 141 00:07:30,120 --> 00:07:35,760 Speaker 11: living in the city are eating people's pets. Since then, businesses, schools, 142 00:07:35,760 --> 00:07:39,160 Speaker 11: and college campuses have closed down after threats were made. 143 00:07:39,440 --> 00:07:41,520 Speaker 11: Ohio Governor Mike de Wine. 144 00:07:41,200 --> 00:07:43,800 Speaker 6: We've taken action in regard to cameras. 145 00:07:44,480 --> 00:07:48,120 Speaker 2: We have taken action into putting a large number of 146 00:07:48,480 --> 00:07:50,280 Speaker 2: numbers of highway patrol here. 147 00:07:51,000 --> 00:07:54,400 Speaker 11: Governor DeWine also says schools in Springfield we'll have more 148 00:07:54,400 --> 00:07:57,880 Speaker 11: police officers beginning today. Meanwhile, in a new twist, the 149 00:07:57,960 --> 00:08:01,560 Speaker 11: Trump campaign says the former press and has offered a 150 00:08:01,600 --> 00:08:05,640 Speaker 11: campaign there. A Coast Guard hearing is underway and South 151 00:08:05,680 --> 00:08:09,920 Speaker 11: Carolina focused on last year's deadly voyage by the ocean 152 00:08:09,920 --> 00:08:14,239 Speaker 11: Gate submersible to visit the Titanic. All five on board 153 00:08:14,240 --> 00:08:18,080 Speaker 11: were killed when it imploded. In testimony, ocean Gate's former 154 00:08:18,160 --> 00:08:22,040 Speaker 11: engineering director Tony Nissen told the Coastguard panel he was 155 00:08:22,040 --> 00:08:25,960 Speaker 11: fired because he did not approve of Titan traveling to 156 00:08:26,040 --> 00:08:29,560 Speaker 11: the Titanic, and said there were warning signs in early tests. 157 00:08:30,080 --> 00:08:33,439 Speaker 2: We hadn't early gone deep enough long enough, and we 158 00:08:33,520 --> 00:08:37,199 Speaker 2: were reflecting a thirty seven percent more so, it was 159 00:08:37,240 --> 00:08:37,920 Speaker 2: the first warning. 160 00:08:38,480 --> 00:08:41,600 Speaker 11: Officials revealing one of the last messages from Titan to 161 00:08:41,760 --> 00:08:46,360 Speaker 11: its support ship was all good here, officials say. A 162 00:08:46,440 --> 00:08:49,800 Speaker 11: massive pipeline fire that has burned for hours near Houston 163 00:08:50,080 --> 00:08:53,920 Speaker 11: began after a vehicle struck in above ground valve after 164 00:08:54,000 --> 00:08:57,760 Speaker 11: driving through a fence. Officials in deer Park said that 165 00:08:57,920 --> 00:09:01,200 Speaker 11: police and local FBI agents I found no evidence of 166 00:09:01,360 --> 00:09:05,760 Speaker 11: terroristic activity. The investigation includes an effort to identify the 167 00:09:05,840 --> 00:09:09,880 Speaker 11: driver operator. Central Point Energy shut off the flow of 168 00:09:09,960 --> 00:09:13,199 Speaker 11: natural gas liquids in the pipeline, but Deer Park Mayor 169 00:09:13,400 --> 00:09:16,080 Speaker 11: Jerry Mouton says the line is still burning. 170 00:09:16,440 --> 00:09:20,080 Speaker 7: The fire is it's very hot, so a lot of 171 00:09:20,080 --> 00:09:23,360 Speaker 7: the house structures that are adjacent to that are still 172 00:09:23,360 --> 00:09:25,560 Speaker 7: catching on fire, even though we're putting a lot of 173 00:09:25,600 --> 00:09:27,560 Speaker 7: water on them to try to control that. 174 00:09:28,480 --> 00:09:32,200 Speaker 11: Mayor Muton says the fire could burn off. Today Global 175 00:09:32,240 --> 00:09:34,720 Speaker 11: News twenty four hours a day and whenever you want 176 00:09:34,720 --> 00:09:38,200 Speaker 11: it with Bloomberg News Now. I'm Michael Barn. This is Bloomberg. 177 00:09:38,280 --> 00:09:38,520 Speaker 12: Karen. 178 00:09:38,720 --> 00:09:45,160 Speaker 3: All right, Michael Barr, thank you time now for the 179 00:09:45,160 --> 00:09:47,560 Speaker 3: Bloomberg Sports Update with John stash Hour. 180 00:09:47,679 --> 00:09:49,640 Speaker 13: John, good morning, Good morning, Karen, Good day and night 181 00:09:49,679 --> 00:09:52,760 Speaker 13: for the Mets. First, they got encouraging news on franciscild 182 00:09:52,760 --> 00:09:55,679 Speaker 13: Indoor's back injury. Then they hosted Washington looking to end 183 00:09:55,679 --> 00:09:58,360 Speaker 13: their first two game losing streactions mid August. Mets one 184 00:09:58,400 --> 00:10:00,880 Speaker 13: two to one shut out until the eighth inning they 185 00:10:00,920 --> 00:10:03,480 Speaker 13: wanted on a Starling Marte hit in the tenth. Sean 186 00:10:03,480 --> 00:10:06,080 Speaker 13: and I and three relievers together allowed only five hits, 187 00:10:06,120 --> 00:10:09,040 Speaker 13: one walk, ten strikeouts. As for the Lindor, who had 188 00:10:09,040 --> 00:10:10,880 Speaker 13: not missed the game all season, he was not able 189 00:10:10,880 --> 00:10:13,120 Speaker 13: to play a full game in any of the three 190 00:10:13,160 --> 00:10:15,880 Speaker 13: this past weekend, but the MRI was cleaned. 191 00:10:16,640 --> 00:10:19,120 Speaker 9: I'm great. I still have a little bit of pain, 192 00:10:19,760 --> 00:10:24,280 Speaker 9: but we had good use. Everything seems like it's good. 193 00:10:24,480 --> 00:10:26,959 Speaker 9: You know, he could be. 194 00:10:26,960 --> 00:10:29,120 Speaker 4: Three to five days or it could be two to three. 195 00:10:29,040 --> 00:10:34,000 Speaker 9: Depends on how my back reacts the training. They have 196 00:10:34,040 --> 00:10:37,080 Speaker 9: an amazing game plan and then he's gonna be up 197 00:10:37,080 --> 00:10:39,160 Speaker 9: to Mendy and if I feel okay to play. 198 00:10:39,280 --> 00:10:41,760 Speaker 13: The Mets also got good news in other games. Atlanta 199 00:10:41,920 --> 00:10:44,280 Speaker 13: lost the Dodgers nine and other in La scored nine 200 00:10:44,320 --> 00:10:47,079 Speaker 13: runs on four hits. In Arizona lost in the bottom 201 00:10:47,080 --> 00:10:48,720 Speaker 13: of the ninth Tenny of Colorado three to two. The 202 00:10:48,760 --> 00:10:51,319 Speaker 13: Mets leave the praise for the third NL Wildcard by 203 00:10:51,320 --> 00:10:53,960 Speaker 13: one game. They're one behind the d Backs for the 204 00:10:54,040 --> 00:10:57,000 Speaker 13: second wildcard good Monday Night at Falcons and Eagles in Philly. 205 00:10:57,160 --> 00:10:59,959 Speaker 13: Six lead changes, The last one came of the fun 206 00:11:00,000 --> 00:11:02,320 Speaker 13: Donald a minute a Kirk Cousin's touchdown pass to Drake 207 00:11:02,400 --> 00:11:05,360 Speaker 13: London Atlanta one twenty two to twenty one. Both teams 208 00:11:05,360 --> 00:11:07,120 Speaker 13: are one and one. The Giants are zero to two 209 00:11:07,160 --> 00:11:09,680 Speaker 13: for the ninth time in the last twelve years, and 210 00:11:09,720 --> 00:11:11,800 Speaker 13: they'll be without their kicker for a few weeks. Draham 211 00:11:11,840 --> 00:11:14,959 Speaker 13: Jenew heard his hamstring in Sunday's opening kickoff. The Jets 212 00:11:14,960 --> 00:11:18,160 Speaker 13: have lost Jermaine Johnson for the season torn achilles, so 213 00:11:18,400 --> 00:11:21,559 Speaker 13: down a defensive lineman. Will that lead to signing ha 214 00:11:21,720 --> 00:11:23,800 Speaker 13: Son Redick, who remains in a contract hold out. The 215 00:11:23,880 --> 00:11:26,840 Speaker 13: Jets have a second straight short work week. They host 216 00:11:26,840 --> 00:11:30,960 Speaker 13: the Patriots Thursday, quarterback change at Carolina. The veteran Andy 217 00:11:31,040 --> 00:11:34,960 Speaker 13: Dalton will start Sunday against Las Vegas. The struggling Panthers 218 00:11:34,960 --> 00:11:37,680 Speaker 13: have bench Bryce Young, who they took with the first 219 00:11:37,679 --> 00:11:40,760 Speaker 13: overall pick of the twenty twenty three draft. John stanshantw're 220 00:11:40,760 --> 00:11:42,160 Speaker 13: Bloomberg Sports, Candon. 221 00:11:41,960 --> 00:11:48,280 Speaker 12: Athor Coast to Coast on Bloomberg Radio Nationwide on Sirius 222 00:11:48,440 --> 00:11:51,559 Speaker 12: XM and around the world on Bloomberg dot Com and 223 00:11:51,679 --> 00:11:55,120 Speaker 12: the Bloomberg Business app. This is Bloomberg Daybreak. 224 00:11:55,360 --> 00:11:57,960 Speaker 1: Good morning, I'm Nathan Hager, turning now to a Bloomberg 225 00:11:58,040 --> 00:12:02,440 Speaker 1: News exclusive our interview with Iraq's Prime Minister Mohammad Shia 226 00:12:02,520 --> 00:12:05,800 Speaker 1: al Sudani. The Iraqi leader sat down with Bloomberg's Jumana 227 00:12:05,840 --> 00:12:09,720 Speaker 1: Bursechi in Baghdad. They discussed why he thinks US troops 228 00:12:09,720 --> 00:12:12,040 Speaker 1: are no longer needed in his country and how, in 229 00:12:12,080 --> 00:12:15,960 Speaker 1: his view, the US has largely succeeded in defeating Isis. 230 00:12:16,200 --> 00:12:19,360 Speaker 1: Alsudani also talked about the upcoming US election, as well 231 00:12:19,400 --> 00:12:22,840 Speaker 1: as a timeline for restarting a key oil pipeline to 232 00:12:22,920 --> 00:12:27,080 Speaker 1: help iraqet closer to its opek output quota. Iraqi Prime 233 00:12:27,080 --> 00:12:30,760 Speaker 1: Minister Mohammad Shia al Sudani spoke with Jumana through a translator. 234 00:12:30,840 --> 00:12:32,199 Speaker 1: Let's go to that discussion. 235 00:12:33,080 --> 00:12:38,640 Speaker 10: Bidet Hokuma ti vivaramamaj Hokumi. My government started a government 236 00:12:38,720 --> 00:12:41,599 Speaker 10: run program that was proposed to Parliament and put to 237 00:12:41,679 --> 00:12:45,640 Speaker 10: a vote after the Ministerial Cabinet presented it. This was 238 00:12:45,720 --> 00:12:51,000 Speaker 10: according to the constitutional measures part of the ministerial program 239 00:12:51,480 --> 00:12:54,960 Speaker 10: was ending the coalition's mission after the justifications for its 240 00:12:55,040 --> 00:13:00,240 Speaker 10: presence had ended. Today, Iraq in twenty twenty four is 241 00:13:00,320 --> 00:13:04,559 Speaker 10: not the same as Iraq of twenty fourteen. We have 242 00:13:04,679 --> 00:13:09,040 Speaker 10: defeated DYSH with our sacrifices in the Iraqi people's position, 243 00:13:09,679 --> 00:13:12,719 Speaker 10: from all of its components and factions, and with the 244 00:13:12,760 --> 00:13:16,439 Speaker 10: support of the international community and friends, and we do 245 00:13:16,600 --> 00:13:22,520 Speaker 10: appreciate that we found that the justifications ended and there 246 00:13:22,600 --> 00:13:25,280 Speaker 10: is no longer a need for a coalition of eighty 247 00:13:25,360 --> 00:13:29,000 Speaker 10: six countries. We moved from a period of wars to 248 00:13:29,120 --> 00:13:33,439 Speaker 10: a period of stability. DYSH doesn't pose a threat to 249 00:13:33,559 --> 00:13:36,840 Speaker 10: the state. They may be part of the security challenges 250 00:13:37,280 --> 00:13:40,720 Speaker 10: like drug trade and criminal offenses. It's at that level. 251 00:13:41,280 --> 00:13:44,840 Speaker 10: It's not equal to DYISH now a group of terrified 252 00:13:44,920 --> 00:13:48,160 Speaker 10: people hiding in caves in the desert in the mountains, 253 00:13:48,520 --> 00:13:53,120 Speaker 10: and the real threat to security and stability. Based on 254 00:13:53,240 --> 00:13:57,240 Speaker 10: this vision and evaluation, we initiated a conversation with our 255 00:13:57,280 --> 00:14:01,439 Speaker 10: friends in the International Coalition and it was honest and 256 00:14:01,559 --> 00:14:05,640 Speaker 10: included more discussions on various levels, and was culminated with 257 00:14:05,800 --> 00:14:09,320 Speaker 10: my visit to Washington, d C. And talking to President Biden. 258 00:14:11,080 --> 00:14:13,800 Speaker 10: We formed a joint committee in August of twenty twenty 259 00:14:13,840 --> 00:14:17,920 Speaker 10: three between military commanders to start the conversation, and in 260 00:14:18,040 --> 00:14:22,400 Speaker 10: fact the committee reached an understanding to arrange for that withdrawal. 261 00:14:23,960 --> 00:14:27,240 Speaker 10: It was hoped that the conclusion would be announced, but 262 00:14:27,400 --> 00:14:30,280 Speaker 10: out of our keenness not to mix things or create 263 00:14:30,320 --> 00:14:34,280 Speaker 10: a misunderstanding about the end of the coalition's mission, the 264 00:14:34,400 --> 00:14:37,320 Speaker 10: desire was to postpone the announcement and we hope to 265 00:14:37,400 --> 00:14:40,200 Speaker 10: announce it soon and we will take part in an 266 00:14:40,240 --> 00:14:45,720 Speaker 10: international conference for the Coalition against dish or terrorism and 267 00:14:45,800 --> 00:14:48,920 Speaker 10: Iraq is a genuine member that lead the ranks. 268 00:14:48,640 --> 00:14:49,680 Speaker 4: To face terrorism. 269 00:14:51,240 --> 00:14:54,280 Speaker 10: Ending the coalition's mission and this is an important point, 270 00:14:55,080 --> 00:14:59,200 Speaker 10: does not mean a breakdown between Iraq and the coalition countries, 271 00:14:59,480 --> 00:15:03,640 Speaker 10: including the United States. On the contrary, at the same time, 272 00:15:04,240 --> 00:15:07,960 Speaker 10: we are in bilateral talks to build a sustainable security 273 00:15:08,040 --> 00:15:13,520 Speaker 10: relationship other than the economic, cultural, and scientific and social ties. 274 00:15:14,200 --> 00:15:16,480 Speaker 14: You say that ISIS is less of a threat, and 275 00:15:16,600 --> 00:15:19,440 Speaker 14: yet on Fridays, since common ounts that a raid was 276 00:15:19,480 --> 00:15:24,239 Speaker 14: conducted in western Iraq, US military alongside Iraqi security officials 277 00:15:24,720 --> 00:15:28,120 Speaker 14: killed some senior ISIS commanders. That tells me that the 278 00:15:28,240 --> 00:15:29,880 Speaker 14: ISIS threat is still there no. 279 00:15:32,840 --> 00:15:32,880 Speaker 2: No. 280 00:15:36,440 --> 00:15:40,000 Speaker 10: Of course, this was one of the quality operations that 281 00:15:40,200 --> 00:15:45,600 Speaker 10: was executed between security agencies and the international coalition. This 282 00:15:45,800 --> 00:15:48,920 Speaker 10: is proof La daesh Or. This is proof that the 283 00:15:49,000 --> 00:15:53,200 Speaker 10: security agencies have reached the phase of capability where they 284 00:15:53,280 --> 00:15:57,440 Speaker 10: started finding these people in caves, in mountains, in deserted 285 00:15:57,480 --> 00:16:00,880 Speaker 10: areas and killed them. This is proof of the level 286 00:16:01,000 --> 00:16:04,920 Speaker 10: of ability and capability that our security forces have reached. 287 00:16:05,440 --> 00:16:08,840 Speaker 10: Dyash today doesn't own a land or an area to 288 00:16:08,920 --> 00:16:12,080 Speaker 10: be in and has lost its incubator, and this is 289 00:16:12,120 --> 00:16:15,840 Speaker 10: the fundamental win achieved. Following up on the cells of 290 00:16:15,920 --> 00:16:19,120 Speaker 10: these individuals doesn't mean that there is a real threat. 291 00:16:19,720 --> 00:16:24,040 Speaker 10: When we used to talk about DYSHDYSH used to hold areas, villages, 292 00:16:24,520 --> 00:16:29,240 Speaker 10: and cities, and today Dash doesn't have this existence except 293 00:16:29,320 --> 00:16:32,280 Speaker 10: for these isolated groupings in deserted areas. 294 00:16:33,720 --> 00:16:37,160 Speaker 14: There's a US presidential election coming up very soon. What 295 00:16:37,240 --> 00:16:39,960 Speaker 14: would you like to see out of the next US president, 296 00:16:40,080 --> 00:16:41,920 Speaker 14: be it President Harris or President Trump. 297 00:16:46,760 --> 00:16:47,040 Speaker 11: Riki. 298 00:16:47,560 --> 00:16:50,200 Speaker 10: Of course, we respect the choice of the American people 299 00:16:50,400 --> 00:16:53,920 Speaker 10: according to the democratic process. We will deal with any 300 00:16:53,960 --> 00:16:57,920 Speaker 10: administration that gains confidence. It's of interest to us to 301 00:16:58,040 --> 00:17:00,800 Speaker 10: activate the strategic framework that was in two thousand and 302 00:17:00,840 --> 00:17:04,320 Speaker 10: eight and building of relationship based on these principles of 303 00:17:04,480 --> 00:17:07,359 Speaker 10: mutual interests and respecting Iraqi sovereignty. 304 00:17:07,480 --> 00:17:11,840 Speaker 14: President Trump has been historically very hawkish on Iran. Do 305 00:17:11,920 --> 00:17:14,159 Speaker 14: you worry that a return of President Trump could be 306 00:17:14,240 --> 00:17:16,080 Speaker 14: even more destabilizing for the region. 307 00:17:17,480 --> 00:17:23,280 Speaker 10: For our understanding of the situation of the relationship between 308 00:17:23,440 --> 00:17:28,040 Speaker 10: Iraq and Iran is based on mutual interests and mutual respect. 309 00:17:28,720 --> 00:17:31,840 Speaker 10: Iran is a neighboring country and we share one four 310 00:17:31,920 --> 00:17:34,920 Speaker 10: hundred kilometers and it's in our interest to have a 311 00:17:35,000 --> 00:17:39,240 Speaker 10: close relationship, especially that Iran has been supportive of the 312 00:17:39,320 --> 00:17:44,960 Speaker 10: political process and our efforts in combating terrorism. Of course, 313 00:17:45,160 --> 00:17:47,959 Speaker 10: Iraq is the only country in the region that has 314 00:17:48,000 --> 00:17:52,159 Speaker 10: a special relationship between Iran and the United States, and 315 00:17:52,320 --> 00:17:56,119 Speaker 10: we try through this positive characteristic to help in bringing 316 00:17:56,600 --> 00:18:01,080 Speaker 10: opinions closer. And we are interested to have stability in 317 00:18:01,200 --> 00:18:05,400 Speaker 10: the region away from the access policy. We don't want 318 00:18:05,480 --> 00:18:09,280 Speaker 10: the tense relationships and the stances of other countries of 319 00:18:09,400 --> 00:18:13,639 Speaker 10: the world to impact the Iraqi situation. This is our 320 00:18:13,760 --> 00:18:19,320 Speaker 10: diplomatic effort and movements in terms of our bilateral and regional. 321 00:18:19,040 --> 00:18:22,160 Speaker 1: Ties, and that was the Prime Minister of Iraq Mohammad 322 00:18:22,200 --> 00:18:25,240 Speaker 1: Shia al Sudani speaking through an interpreter there with Bloomberg's 323 00:18:25,320 --> 00:18:28,600 Speaker 1: Jumana Bursechi. You can catch their full conversation on the 324 00:18:28,640 --> 00:18:32,120 Speaker 1: Bloomberg Talks podcast. Subscribe to download all of our high 325 00:18:32,200 --> 00:18:36,560 Speaker 1: profile discussions anywhere you get your podcasts. And Jumana is 326 00:18:36,640 --> 00:18:39,919 Speaker 1: here with us now for more on this very important interview. Jumana, 327 00:18:39,960 --> 00:18:43,200 Speaker 1: of course, the anchor of Bloomberg Horizons on Bloomberg Television, 328 00:18:43,760 --> 00:18:47,960 Speaker 1: joining us out of Dubai this morning. Jumana, congratulations on 329 00:18:48,160 --> 00:18:51,960 Speaker 1: this discussion. Really interesting to hear the Prime minister talk 330 00:18:52,080 --> 00:18:54,560 Speaker 1: about his country moving from a period of wars to 331 00:18:54,680 --> 00:18:58,040 Speaker 1: a period of stability. Walk us through your impressions of 332 00:18:58,160 --> 00:19:00,760 Speaker 1: this conversation that you had with the Prime Yeah. 333 00:19:00,800 --> 00:19:02,840 Speaker 14: So we had a half hour sit down with him 334 00:19:03,280 --> 00:19:05,639 Speaker 14: and we spoke about a broad array of different topics 335 00:19:05,680 --> 00:19:09,160 Speaker 14: as you can imagine, the ongoing war and Gaza regional geopolitics, 336 00:19:09,640 --> 00:19:12,720 Speaker 14: the threat of ISIS and also opek. So lots of 337 00:19:12,840 --> 00:19:15,320 Speaker 14: different topics were brought up. But I would say if 338 00:19:15,359 --> 00:19:19,160 Speaker 14: there was one headline or one major takeaway from that interview, 339 00:19:19,800 --> 00:19:22,080 Speaker 14: it was this one and he said, the Iraq of 340 00:19:22,119 --> 00:19:24,920 Speaker 14: twenty twenty four is not the same as the Iraq 341 00:19:24,960 --> 00:19:28,359 Speaker 14: of twenty fourteen. And specifically we talk about twenty fourteen 342 00:19:28,480 --> 00:19:32,240 Speaker 14: because that was when the US, alongside other coalition forces 343 00:19:32,760 --> 00:19:36,080 Speaker 14: returned back to Iraq to combat the threat of ISIS. 344 00:19:36,359 --> 00:19:39,440 Speaker 14: Now back in twenty fourteen, you may also remember that 345 00:19:39,560 --> 00:19:42,639 Speaker 14: at one point Isis took over about a third of 346 00:19:42,680 --> 00:19:45,320 Speaker 14: the land in Syria and Iraq. It was a real 347 00:19:45,720 --> 00:19:49,000 Speaker 14: and present, very present danger. What he's saying is you 348 00:19:49,080 --> 00:19:52,520 Speaker 14: fast forward a decade later, Isis, in their eyes, is 349 00:19:52,640 --> 00:19:55,679 Speaker 14: no longer a threat anymore. They say that DASH has 350 00:19:55,760 --> 00:19:59,840 Speaker 14: mostly been defeated. They're not the force that they once was, 351 00:20:00,119 --> 00:20:02,920 Speaker 14: and therefore there's less of a justification for the US 352 00:20:03,000 --> 00:20:06,000 Speaker 14: forces and coalition forces to still be present on the ground. 353 00:20:06,000 --> 00:20:09,520 Speaker 14: They're around twenty five hundred US troops and advisors still 354 00:20:09,560 --> 00:20:11,960 Speaker 14: stationed in Iraq, and he's saying that they want to 355 00:20:12,040 --> 00:20:17,280 Speaker 14: work towards a more bilateral relationship based on security and 356 00:20:17,400 --> 00:20:20,480 Speaker 14: diplomacy as opposed to having the US having an active 357 00:20:20,520 --> 00:20:22,960 Speaker 14: presence on the grounds. And he also hinted that an 358 00:20:23,000 --> 00:20:24,160 Speaker 14: announcement could be coming soon. 359 00:20:24,320 --> 00:20:26,760 Speaker 1: Yeah, of course, we heard you press the Prime Minister 360 00:20:26,960 --> 00:20:29,840 Speaker 1: on the attacks that ISIS has managed to carry out 361 00:20:29,960 --> 00:20:33,960 Speaker 1: despite the US troop presence there. What's your impression, Jumana, 362 00:20:34,119 --> 00:20:37,479 Speaker 1: of the stability of the al Sudani government given all 363 00:20:37,520 --> 00:20:40,399 Speaker 1: the instability we've seen since the overthrow of Saddam Hussein. 364 00:20:40,600 --> 00:20:43,800 Speaker 14: Yeah, it's a really important question because when you think 365 00:20:43,840 --> 00:20:46,880 Speaker 14: about Iraq today, I guess one of the first things 366 00:20:46,920 --> 00:20:49,520 Speaker 14: people think of is the threat of ISIS, and he 367 00:20:49,720 --> 00:20:52,879 Speaker 14: is right, and that the ongoing threat is less and 368 00:20:52,960 --> 00:20:54,800 Speaker 14: less that it used to be. Nowadays you just have 369 00:20:55,280 --> 00:20:58,040 Speaker 14: the odds ISIS commander hiding in a cave. They don't 370 00:20:58,080 --> 00:21:01,520 Speaker 14: have incubators, they don't have control roll over cities or towns, 371 00:21:01,560 --> 00:21:04,119 Speaker 14: so very different from what it once was. But what 372 00:21:04,320 --> 00:21:07,440 Speaker 14: has happened in the last couple of years is what 373 00:21:07,640 --> 00:21:12,760 Speaker 14: we are saying is increasing penetration from Iranian affiliated political 374 00:21:12,800 --> 00:21:17,600 Speaker 14: groups into mainstream political parties, and so the Sudani government 375 00:21:17,720 --> 00:21:21,000 Speaker 14: is actually held up by a majority of these Shia 376 00:21:21,160 --> 00:21:23,920 Speaker 14: political parties. And of course Iran and Iraq historically have 377 00:21:24,040 --> 00:21:26,439 Speaker 14: very close religious relations as well. You have to remember 378 00:21:26,520 --> 00:21:29,920 Speaker 14: that some of the key Shia Muslim shrines are also 379 00:21:30,680 --> 00:21:33,760 Speaker 14: in Iraq, so they have these close historical religious ties. 380 00:21:33,800 --> 00:21:36,520 Speaker 14: But increasingly that Iran has had more of a political 381 00:21:36,560 --> 00:21:38,720 Speaker 14: presence within Iraq, and that is one of the concerns here, 382 00:21:38,840 --> 00:21:41,919 Speaker 14: and that if we are talking about broader regional tension, 383 00:21:42,920 --> 00:21:45,400 Speaker 14: the axis of resistance, so to speak. At some point 384 00:21:45,480 --> 00:21:47,680 Speaker 14: in the interview you may have noticed he said, we 385 00:21:47,800 --> 00:21:50,200 Speaker 14: don't want to be a part of any particular axis. 386 00:21:50,359 --> 00:21:53,360 Speaker 14: We see ourselves as a mediator and somebody who has 387 00:21:53,400 --> 00:21:55,000 Speaker 14: relations with both Iran and the US. 388 00:21:55,560 --> 00:21:58,840 Speaker 1: Just thirty seconds left Jumana. But could Iraq's relationship with 389 00:21:58,960 --> 00:22:02,360 Speaker 1: Iran pose risk for the US in the years to come. 390 00:22:02,960 --> 00:22:04,879 Speaker 14: I think it is a concern, and I think what 391 00:22:05,040 --> 00:22:08,680 Speaker 14: El Sudania is trying to do is to distinguish himself 392 00:22:08,760 --> 00:22:12,760 Speaker 14: from those paramilitary troops that are operating within Iraq. But 393 00:22:12,840 --> 00:22:15,320 Speaker 14: the big challenge for his government is to be able 394 00:22:15,440 --> 00:22:19,160 Speaker 14: to reaffirm state control over some of these paramilitary organizations, 395 00:22:19,240 --> 00:22:21,080 Speaker 14: and that will be the challenge in years to come.