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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning.

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Speaker 1: I'm Nathan Hager and I'm Karen Moscow. Here are the

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Speaker 1: stories we're following today.

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Speaker 3: Karen, let's start with the latest on the presidential race.

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Speaker 3: Former President Donald Trump has yet to commit to a

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Speaker 3: debate with Vice President Kambala Harris now that she's the

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Speaker 3: Democrat's presumptive nominee, but in an interview last night with

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Speaker 3: Fox News host Laura Ingram, Trump said he will probably

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Speaker 3: end up debating Harris eventually.

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Speaker 4: I want to do a debate, but I also can

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Speaker 4: say this. Everybody knows who I am, and now people

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Speaker 4: know who she is. She's a radical left lunatic. She'll

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Speaker 4: destroy our country. She once openboord.

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Speaker 5: Why not debater?

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Speaker 4: Well wait, but because they already know everything.

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Speaker 3: Former President Trump says if he does debate Harris, he

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Speaker 3: would like to do it before early votes are cast.

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Speaker 3: Harris has accused Trump of backpedaling on a debate set

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Speaker 3: for September tenth on ABC News. In the Fox interview,

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Speaker 3: Trump called a a a quote terrible outfit. He complained

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Speaker 3: about the network getting rich off the debate.

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Speaker 1: Meanwhile, Nathan Vice President Harris is honing in on her

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Speaker 1: search for a running mate, and now she has one

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Speaker 1: less candidate to consider. North Carolina Governor Roy Cooper is

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Speaker 1: pulling his name from consideration. In a post on x

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Speaker 1: he says it's not the right time for him or

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Speaker 1: his state to be on a national ticket. And Cooper

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Speaker 1: was campaigning for Harris last night.

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Speaker 4: If white males would vote one to two percent more

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Speaker 4: for Democrats than they usually do, then we win this race.

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Speaker 1: Governor Roy Cooper took part in a Zoom call dubbed

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Speaker 1: white Dudes for Harris. Today, Harris will be back out

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Speaker 1: on the campaign trail with a rally in Atlanta. The

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Speaker 1: vice president is looking to expand the electoral map into

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Speaker 1: the sun Belt states of Georgia, Arizona, and Neveda, along

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Speaker 1: with the democrats traditional blue wall of Michigan, Wisconsin, and Pennsylvania.

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Speaker 3: Less for President Biden Karen He's no longer on the

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Speaker 3: campaign trail, but he is is making a play for

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Speaker 3: major Supreme Court reform in an appearance at the Lynden

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Speaker 3: Bins Johnson Library in Austin, Texas. We get that story

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Speaker 3: from Bloomberg's Ed Baxter.

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Speaker 6: President Biden is calling for lawmakers to pass new binding

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Speaker 6: ethic rules and term limits for the justices.

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Speaker 5: This nation was founded on the principle there are no

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Speaker 5: kings in America.

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Speaker 7: Each of usn't equal before the law.

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Speaker 6: But Senate Minority Leader Mitch McConnell says it is not necessary.

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Speaker 8: President Biden has left as well as that don't like

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Speaker 8: the current composition of the Court, so they want to

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Speaker 8: shred the constitution to change it.

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Speaker 6: McConnell says they're already ethics rules in place. Biden attends

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Speaker 6: the current court is undermined long established civil rights principles

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Speaker 6: and protections. Ed Baxter Bloomberg Radio, All.

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Speaker 7: Right, and thank you.

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Speaker 1: Now to the latest developments in the presidential election in Venezuela.

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Speaker 1: The country's opposition says it can prove electoral fraud as

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Speaker 1: thousands took to the streets of the capital, Caracas to

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Speaker 1: protest what they say is Nicholas Maduro's fraudulent win. Opposition

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Speaker 1: leader Maria Colorina Machado, speaking through an interpreter, says her

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Speaker 1: candidate won more than double Maduro's votes.

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Speaker 7: Oda good today.

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Speaker 9: I want to tell all Venezuelans in the country and abroad,

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Speaker 9: to all the Democrats of the world, we now have

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Speaker 9: proof of the truth of what happened yesterday in Venezuela.

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Speaker 1: Yeah, the administration has accused Machado of being involved in

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Speaker 1: a plot to alter the voting results. That our national

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Speaker 1: pressure has been ramping up on Maduro to provide transparency

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Speaker 1: over the election tally.

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Speaker 3: Back to the US now, Karen with a focus on

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Speaker 3: the FED begins its two day meeting on interest rates today.

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Speaker 3: No change in monetary policy is expected tomorrow, but policymakers

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Speaker 3: are expected to set the stage for a rate cut

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Speaker 3: in September. Amanda Linum, head of macro credit research at Blackrock,

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Speaker 3: talked about the FED on Bloomberg surveillance.

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Speaker 10: The way it stands right now is we don't see

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Speaker 10: a lot of urgency for large or swift rate cuts.

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Speaker 10: So the base case that we have is twenty five

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Speaker 10: basis points every other meeting, So that means maybe two

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Speaker 10: cuts this year and then a handful of cuts next year.

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Speaker 10: Say we land at a terminal rate closer to four percent,

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Speaker 10: definitely less restrictive where we are now, but nowhere near

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Speaker 10: the zero lower bound of the post financial crisis era.

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Speaker 3: Black Rocks Amanda line them says swaps markets are fully

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Speaker 3: pricing a September move.

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Speaker 7: Well, Nathan.

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Speaker 1: The yen is weakening against the dollar as the Bank

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Speaker 1: of Japan also kicks off a two day policy meeting,

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Speaker 1: overnight index swaps price and a thirty four percent chance

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Speaker 1: of an interest rate increase of fifteen basis points in Europe.

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Speaker 3: Care in the euro Area economy grew more than expected

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Speaker 3: in the second quarter, as resilient expansion in key countries

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Speaker 3: allowed the region to shrug off Germany's surprise contraction. Gross

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Speaker 3: domestic product grows three tenths of one percent as both

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Speaker 3: France and Spain beat estimates and Italy kept growing as well.

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Speaker 3: That offset a tenth of one percent drop in Germany.

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Speaker 7: Nathan Earnings also in focus.

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Speaker 1: Shares Adagio down eight and a half percent in Europe,

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Speaker 1: A slotted Latin America, the Caribbean and the US pushed

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Speaker 1: the maker of Johnny Walker whiskey to its first annual

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Speaker 1: sales declines since the pandemic.

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Speaker 3: Shares a VP meanwhileer up about one and a half percent.

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Speaker 3: The British oil giant posted profit above analyst estimates. Strong

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Speaker 3: second quarter earnings from pumping crude offset weakness in other

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Speaker 3: parts of the business. BP also maintained the pace of

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Speaker 3: share buybacks, and increased its dividend.

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Speaker 1: Well here in the US, Nathan. Big tech earnings are

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Speaker 1: in focus as Microsoft reports after the closing bill, and

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Speaker 1: Bloomberry's Tom Busby has more on what to expect.

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Speaker 11: The big focus for investors whether Microsoft can continue to

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Speaker 11: post strong growth in its cloud unit, led by its

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Speaker 11: Azure Cloud infrastructure business. Also key, whether the billions of

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Speaker 11: dollars had spent on its generative AI chatbot Microsoft Copilot

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Speaker 11: will start to pay off. Consensus calls for revenue of

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Speaker 11: sixty four point five to two billion dollars adjusted earnings

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Speaker 11: per share of two dollars ninety four cents. Tom Busby,

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Speaker 11: Bloomberg Radio.

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Speaker 3: All right, Tom, thank you, And ahead of those earnings,

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Speaker 3: Microsoft is calling on Congress to crack down on so

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Speaker 3: called deep fakes. The company's urging lawmakers to pass a

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Speaker 3: comprehensive law aimed at images and sound made with artificial

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Speaker 3: intelligence to prevent election interference and malicious targeting of individuals.

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Speaker 3: Microsoft is calling for labels on AI generated content, as

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Speaker 3: well as federal and state laws that penalize creation and

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Speaker 3: distribution of sexually exploitative deep fakes.

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Speaker 1: Nathan Moren Buffett is unloading more shares of Bank of America.

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Speaker 1: Buffett's Berkshire Hathaway disclosed its third disposal this month of

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Speaker 1: BFA shares, pairing its massive profitable bet on the lender

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Speaker 1: by more than three billion dollars. Even with the reduction,

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Speaker 1: Berkshire still holds almost nine hundred to sixty two million

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Speaker 1: shares worth thirty nine and a half billion dollars.

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Speaker 3: Man Karen, Famed short seller Andrew Left has pleaded not

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Speaker 3: guilty to federal fraud charges. This sets the stage for

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Speaker 3: a high profile legal battle over his strategies. Prosecutors hughes

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Speaker 3: the Citron Research founder, of manipulating the market to benefit

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Speaker 3: his trading and making false statements to investigators. If convicted,

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Speaker 3: Left faces decades behind bars. His trial is set for

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Speaker 3: late September.

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Speaker 1: And it's time now for a look at some of

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Speaker 1: the other stories making news in New York and around

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Speaker 1: the world. And for that we're joined by Bloomberg's Michael Barr. Michael,

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Speaker 1: Good morning, Good morning, Karen.

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Speaker 12: There are fears over a broader regional war in the

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Speaker 12: Middle East after Israel promised retaliation for a missile strike

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Speaker 12: that killed twelve children on a soccer field in the

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Speaker 12: Israeli controlled Golan Heights over the weekend. Has Belah Is

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Speaker 12: denied being behind the attack. Some people in the community

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Speaker 12: where it struck have openly questioned the claim that the

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Speaker 12: civilian area was intentionally targeted. Prime Minister Benjamin NETANYAHUO visiting

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Speaker 12: the site of the attack, says this cannot be ignored,

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Speaker 12: and Illinois sheriff says his department quote failed. Sonya Massy.

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Speaker 12: She was the black woman shot to death by a

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Speaker 12: white deputy in her home after she called nine one

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Speaker 12: one about possible intruders. Sangamon County Sheriff Jack Campbell spoke

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Speaker 12: at a community meeting in response to outrage over the

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Speaker 12: shooting at protest nationwide.

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Speaker 11: I'm sorry, she Calfordhall and Fair.

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Speaker 12: The now fire Deputy Sean Grayson is charged with homicide

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Speaker 12: a horrible knife attack in Britain. Police say at the

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Speaker 12: stabbings at a children's dance class in northwest England yesterday

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Speaker 12: killed two children and injured nine others. The event was

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Speaker 12: a Taylor Swift themed dance and yoga event for children

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Speaker 12: aged about six to eleven years old. It took place

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Speaker 12: at a community center in Southport, near Liverpool. Chief Constable

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Speaker 12: Serena Kennedy.

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Speaker 9: When they arrived, they were shocked to find that multiple people,

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Speaker 9: many of whom were children, had been subjected to a

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Speaker 9: ferocious attack.

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Speaker 12: Chief Kennedy says officials ever Ran hosted a seventeen year

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Speaker 12: old boy in the incident. Today, New York's highest Court

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Speaker 12: will hear the latest GOP challenge to the state's mail

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Speaker 12: in Voting Act. They argue the Democrats violated the state

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Speaker 12: constitution when they passed the early voting law last year,

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Speaker 12: but New York state political expert Michael Krasner says that's

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Speaker 12: not what this is really all about.

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Speaker 5: What's really on their mind is winning and losing elections,

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Speaker 5: and in general, the easier it is for people to vote,

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Speaker 5: the better Democrats do, and the more likely Republicans are

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Speaker 5: to lose.

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Speaker 12: Krasner says, what the legislation is doing is protecting and

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Speaker 12: extending a basic right. Global news twenty four hours a

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Speaker 12: day and whenever you want it with the Bloomberg News Now,

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Speaker 12: I'm Michael Barr, and this is Bloomberg Karen.

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Speaker 7: All right, Michael Barr, thank you.

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Speaker 1: Time now for the Bloomberg Sports Update with John stash Hour.

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Speaker 13: John, Good morning, Good morning Karen, easy victories for the

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Speaker 13: Mets and Yankees. The only drama was in scene which

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Speaker 13: New York team would score the most runs.

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Speaker 12: It was the Mets.

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Speaker 13: They walloped the Twins at City Field fifteen to two.

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Speaker 13: Scored all their runs in three innings, six in the fourth,

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Speaker 13: five and the sixth four more on the eighth. Mets

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Speaker 13: had seventeen hits, only one homer, that from Pete Alonzo.

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Speaker 13: The Yankees hit six home runs in Philadelphia, and sure

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Speaker 13: enough for pair from the captain.

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Speaker 7: March's pitch to swim on.

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Speaker 12: Oh hit in the air to d blaff. There it

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Speaker 12: goes way back.

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Speaker 7: Oh hoy, useemy.

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Speaker 2: Go, Oh what a shot?

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Speaker 7: Sharon Judge his second.

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Speaker 1: Barb of the night.

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Speaker 13: Wfan had It's a Judge now thirty nine homers on

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Speaker 13: the season, and welcome to the Yankees. Jazz Chisholm his

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Speaker 13: second game of his new team, he homer twice. Ben

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Speaker 13: Rice and Anthony Volpe also left the Yard Yanks all

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Speaker 13: over the Major League leading Phillies fourteen to four. Yanks

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Speaker 13: have scored forty runs in their last four games, only

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Speaker 13: half game behind Baltimore, who' split a doublehead of with Toronto,

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Speaker 13: last place Blue Jays, waving the white flag in their season,

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Speaker 13: traded Justin Turner to Seattle. Pitcher use Kakuchi, the Houston

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Speaker 13: outfielder Lane Thomas going from Washington to Cleveland. Cincinnati traded

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Speaker 13: Frankie Montest in Milwaukee. The Giants del Jorge Solaiir to Atlanta.

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Speaker 13: The trade deadline six o'clock Today. At the Olympics, US

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Speaker 13: won a couple of silver medals five bronze. They still

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Speaker 13: have only three gold medals that could change today in

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Speaker 13: the women's gymnastics finals. Simone Biles will be in all

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Speaker 13: four events.

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Speaker 12: In the pool.

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Speaker 13: Yesterday, fifteen medals won by swimmers from ten different nations,

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Speaker 13: and three golds were won by swimmers under the age

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Speaker 13: of twenty one. Seventeen year old Canadian phenom Summer Macintosh

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Speaker 13: won the four hundred am. She's expected to win a

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Speaker 13: couple more goals. John Stashewer, Bloomberg Sports Kerry Newton.

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Speaker 8: Coast to Coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 8: and around the world on Bloomberg dot Com and the

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Speaker 8: Bloomberg Business app. This is Bloomberg Daybreak. Good morning.

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Speaker 3: I'm Nathan Hager, watching political developments on a couple of

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Speaker 3: fronts this morning. In Venezuela, the opposition says it can

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Speaker 3: prove candidated. Mundo Gonzalez defeated President Nicholas Maduro on Sunday

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Speaker 3: in a landslide. While here in the US, former President

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Speaker 3: Donald Trump's going back and forth on whether he wants

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Speaker 3: to debate his new opponent in the twenty twenty four race.

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Speaker 3: Vice President Kamala Harris. For the latest on all the

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Speaker 3: politics were joined now by Bloomberg News Senior editor Bill Ferries. Bill,

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Speaker 3: good morning, What is the latest in this disputed election

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Speaker 3: result in Venezuela. Maduro The president has been declared the winner,

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Speaker 3: but the opposition apparently says it's got a pretty significant

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Speaker 3: tally of its own.

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Speaker 12: Right.

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Speaker 14: We saw thousands of people taking to the streets, not

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Speaker 14: just in Caracas, but in some other parts of the

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Speaker 14: country and within Caracas in neighborhoods that have in the

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Speaker 14: past been more pro Maduro. So it's a very tense situation.

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Speaker 14: The opposition says that it has seen detailed voter data

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Speaker 14: that shows they had an irreversible win with more than

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Speaker 14: double the vote count for their candidate at Mundo Gonzala

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Speaker 14: US than what Maduro got so we have to see

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Speaker 14: what happens as morning unfolds there in South America, the

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Speaker 14: opposition has called for what they're calling citizen assemblies to

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Speaker 14: begin taking place around eleven eleven thirty am, and other

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Speaker 14: news related to that. President Biden is expected to have

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Speaker 14: a call with Brazil's president today as well to discuss

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Speaker 14: the situation. And Venezuela's government, meanwhile, has said has accused

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Speaker 14: the opposition of trying to rig the election, and we

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Speaker 14: haven't seen arrest warrants go out for the opposition leaders,

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Speaker 14: but that's something that their supporters, opposition supporters are watching

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Speaker 14: out for.

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Speaker 3: Apart from those next steps, including that conversation between the

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Speaker 3: president and Brazil's leader, who's been a traditional ally I

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Speaker 3: believe of Maduro. Unless I'm mistaken, I guess the ball

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Speaker 3: is in now Maduro's court to show that the election

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Speaker 3: results as certified by the Electoral Center are indeed valid.

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Speaker 14: Maduro government and going back before him, his predecessor, Hugo Chavez,

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Speaker 14: I mean, all the major elections that they had were

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Speaker 14: tainted by accusations of fraud, but it definitely feels different

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Speaker 14: this time. The opposition was pretty buoyant heading into the

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Speaker 14: Sunday vote, there is widespread doubt even some of Maduro's

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Speaker 14: more traditional allies. You mentioned Brazil, but also the government

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Speaker 14: in Mexico, government in Colombia, a little more left leaning governments.

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Speaker 14: They have so far not really you know, stepped up

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Speaker 14: to congratulate Maduro. They say they want to see more

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Speaker 14: transparency about how these votes, how these votes played out,

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Speaker 14: and what the breakdown was.

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Speaker 3: Meanwhile, we've got a whole new race here in the

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Speaker 3: US with President former President Trump now facing Vice President

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Speaker 3: Harrison and kind of going back and forth on whether

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Speaker 3: he's going to commit to a debate with Harris or

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Speaker 3: even agree to a debate.

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Speaker 14: He certainly seems to be trying to keep his options open.

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Speaker 14: He says, yes, cell debate, but you know, I may

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Speaker 14: not he you know, the official line has been that

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Speaker 14: the Republicans are waiting for the Democrats to officially make

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Speaker 14: Kamala Harris their nominee. That should happen by I think

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Speaker 14: August seventh is the date for that. But yeah, there's

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Speaker 14: some hemming and hawing about whether it'll take place. Maybe

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Speaker 14: there'll be adjustments to the date. The September tenth date.

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Speaker 14: Trump has also said he'd like to see it hosted

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Speaker 14: by a different network than ABC. So those are some

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Speaker 14: of the tweaks. But I think, certainly, I think both

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Speaker 14: sides right now seem to be expecting a debate, but

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Speaker 14: whether it happens on the terms previously agreed remains to

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Speaker 14: be seen.

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Speaker 2: This is Bloomberg day Break Today, your morning brief on

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Speaker 7: I'm Nathan Hager and I'm Karen Moscow.

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Speaker 1: Join us again tomorrow morning for all the news you

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