Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: Good morning.
Speaker 1: I'm Nathan Hager and I'm Karen Moscow. Here are the
Speaker 1: stories we're following today.
Speaker 3: Karen, let's start with the latest on the presidential race.
Speaker 3: Former President Donald Trump has yet to commit to a
Speaker 3: debate with Vice President Kambala Harris now that she's the
Speaker 3: Democrat's presumptive nominee, but in an interview last night with
Speaker 3: Fox News host Laura Ingram, Trump said he will probably
Speaker 3: end up debating Harris eventually.
Speaker 4: I want to do a debate, but I also can
Speaker 4: say this. Everybody knows who I am, and now people
Speaker 4: know who she is. She's a radical left lunatic. She'll
Speaker 4: destroy our country. She once openboord.
Speaker 5: Why not debater?
Speaker 4: Well wait, but because they already know everything.
Speaker 3: Former President Trump says if he does debate Harris, he
Speaker 3: would like to do it before early votes are cast.
Speaker 3: Harris has accused Trump of backpedaling on a debate set
Speaker 3: for September tenth on ABC News. In the Fox interview,
Speaker 3: Trump called a a a quote terrible outfit. He complained
Speaker 3: about the network getting rich off the debate.
Speaker 1: Meanwhile, Nathan Vice President Harris is honing in on her
Speaker 1: search for a running mate, and now she has one
Speaker 1: less candidate to consider. North Carolina Governor Roy Cooper is
Speaker 1: pulling his name from consideration. In a post on x
Speaker 1: he says it's not the right time for him or
Speaker 1: his state to be on a national ticket. And Cooper
Speaker 1: was campaigning for Harris last night.
Speaker 4: If white males would vote one to two percent more
Speaker 4: for Democrats than they usually do, then we win this race.
Speaker 1: Governor Roy Cooper took part in a Zoom call dubbed
Speaker 1: white Dudes for Harris. Today, Harris will be back out
Speaker 1: on the campaign trail with a rally in Atlanta. The
Speaker 1: vice president is looking to expand the electoral map into
Speaker 1: the sun Belt states of Georgia, Arizona, and Neveda, along
Speaker 1: with the democrats traditional blue wall of Michigan, Wisconsin, and Pennsylvania.
Speaker 3: Less for President Biden Karen He's no longer on the
Speaker 3: campaign trail, but he is is making a play for
Speaker 3: major Supreme Court reform in an appearance at the Lynden
Speaker 3: Bins Johnson Library in Austin, Texas. We get that story
Speaker 3: from Bloomberg's Ed Baxter.
Speaker 6: President Biden is calling for lawmakers to pass new binding
Speaker 6: ethic rules and term limits for the justices.
Speaker 5: This nation was founded on the principle there are no
Speaker 5: kings in America.
Speaker 7: Each of usn't equal before the law.
Speaker 6: But Senate Minority Leader Mitch McConnell says it is not necessary.
Speaker 8: President Biden has left as well as that don't like
Speaker 8: the current composition of the Court, so they want to
Speaker 8: shred the constitution to change it.
Speaker 6: McConnell says they're already ethics rules in place. Biden attends
Speaker 6: the current court is undermined long established civil rights principles
Speaker 6: and protections. Ed Baxter Bloomberg Radio, All.
Speaker 7: Right, and thank you.
Speaker 1: Now to the latest developments in the presidential election in Venezuela.
Speaker 1: The country's opposition says it can prove electoral fraud as
Speaker 1: thousands took to the streets of the capital, Caracas to
Speaker 1: protest what they say is Nicholas Maduro's fraudulent win. Opposition
Speaker 1: leader Maria Colorina Machado, speaking through an interpreter, says her
Speaker 1: candidate won more than double Maduro's votes.
Speaker 7: Oda good today.
Speaker 9: I want to tell all Venezuelans in the country and abroad,
Speaker 9: to all the Democrats of the world, we now have
Speaker 9: proof of the truth of what happened yesterday in Venezuela.
Speaker 1: Yeah, the administration has accused Machado of being involved in
Speaker 1: a plot to alter the voting results. That our national
Speaker 1: pressure has been ramping up on Maduro to provide transparency
Speaker 1: over the election tally.
Speaker 3: Back to the US now, Karen with a focus on
Speaker 3: the FED begins its two day meeting on interest rates today.
Speaker 3: No change in monetary policy is expected tomorrow, but policymakers
Speaker 3: are expected to set the stage for a rate cut
Speaker 3: in September. Amanda Linum, head of macro credit research at Blackrock,
Speaker 3: talked about the FED on Bloomberg surveillance.
Speaker 10: The way it stands right now is we don't see
Speaker 10: a lot of urgency for large or swift rate cuts.
Speaker 10: So the base case that we have is twenty five
Speaker 10: basis points every other meeting, So that means maybe two
Speaker 10: cuts this year and then a handful of cuts next year.
Speaker 10: Say we land at a terminal rate closer to four percent,
Speaker 10: definitely less restrictive where we are now, but nowhere near
Speaker 10: the zero lower bound of the post financial crisis era.
Speaker 3: Black Rocks Amanda line them says swaps markets are fully
Speaker 3: pricing a September move.
Speaker 7: Well, Nathan.
Speaker 1: The yen is weakening against the dollar as the Bank
Speaker 1: of Japan also kicks off a two day policy meeting,
Speaker 1: overnight index swaps price and a thirty four percent chance
Speaker 1: of an interest rate increase of fifteen basis points in Europe.
Speaker 3: Care in the euro Area economy grew more than expected
Speaker 3: in the second quarter, as resilient expansion in key countries
Speaker 3: allowed the region to shrug off Germany's surprise contraction. Gross
Speaker 3: domestic product grows three tenths of one percent as both
Speaker 3: France and Spain beat estimates and Italy kept growing as well.
Speaker 3: That offset a tenth of one percent drop in Germany.
Speaker 7: Nathan Earnings also in focus.
Speaker 1: Shares Adagio down eight and a half percent in Europe,
Speaker 1: A slotted Latin America, the Caribbean and the US pushed
Speaker 1: the maker of Johnny Walker whiskey to its first annual
Speaker 1: sales declines since the pandemic.
Speaker 3: Shares a VP meanwhileer up about one and a half percent.
Speaker 3: The British oil giant posted profit above analyst estimates. Strong
Speaker 3: second quarter earnings from pumping crude offset weakness in other
Speaker 3: parts of the business. BP also maintained the pace of
Speaker 3: share buybacks, and increased its dividend.
Speaker 1: Well here in the US, Nathan. Big tech earnings are
Speaker 1: in focus as Microsoft reports after the closing bill, and
Speaker 1: Bloomberry's Tom Busby has more on what to expect.
Speaker 11: The big focus for investors whether Microsoft can continue to
Speaker 11: post strong growth in its cloud unit, led by its
Speaker 11: Azure Cloud infrastructure business. Also key, whether the billions of
Speaker 11: dollars had spent on its generative AI chatbot Microsoft Copilot
Speaker 11: will start to pay off. Consensus calls for revenue of
Speaker 11: sixty four point five to two billion dollars adjusted earnings
Speaker 11: per share of two dollars ninety four cents. Tom Busby,
Speaker 11: Bloomberg Radio.
Speaker 3: All right, Tom, thank you, And ahead of those earnings,
Speaker 3: Microsoft is calling on Congress to crack down on so
Speaker 3: called deep fakes. The company's urging lawmakers to pass a
Speaker 3: comprehensive law aimed at images and sound made with artificial
Speaker 3: intelligence to prevent election interference and malicious targeting of individuals.
Speaker 3: Microsoft is calling for labels on AI generated content, as
Speaker 3: well as federal and state laws that penalize creation and
Speaker 3: distribution of sexually exploitative deep fakes.
Speaker 1: Nathan Moren Buffett is unloading more shares of Bank of America.
Speaker 1: Buffett's Berkshire Hathaway disclosed its third disposal this month of
Speaker 1: BFA shares, pairing its massive profitable bet on the lender
Speaker 1: by more than three billion dollars. Even with the reduction,
Speaker 1: Berkshire still holds almost nine hundred to sixty two million
Speaker 1: shares worth thirty nine and a half billion dollars.
Speaker 3: Man Karen, Famed short seller Andrew Left has pleaded not
Speaker 3: guilty to federal fraud charges. This sets the stage for
Speaker 3: a high profile legal battle over his strategies. Prosecutors hughes
Speaker 3: the Citron Research founder, of manipulating the market to benefit
Speaker 3: his trading and making false statements to investigators. If convicted,
Speaker 3: Left faces decades behind bars. His trial is set for
Speaker 3: late September.
Speaker 1: And it's time now for a look at some of
Speaker 1: the other stories making news in New York and around
Speaker 1: the world. And for that we're joined by Bloomberg's Michael Barr. Michael,
Speaker 1: Good morning, Good morning, Karen.
Speaker 12: There are fears over a broader regional war in the
Speaker 12: Middle East after Israel promised retaliation for a missile strike
Speaker 12: that killed twelve children on a soccer field in the
Speaker 12: Israeli controlled Golan Heights over the weekend. Has Belah Is
Speaker 12: denied being behind the attack. Some people in the community
Speaker 12: where it struck have openly questioned the claim that the
Speaker 12: civilian area was intentionally targeted. Prime Minister Benjamin NETANYAHUO visiting
Speaker 12: the site of the attack, says this cannot be ignored,
Speaker 12: and Illinois sheriff says his department quote failed. Sonya Massy.
Speaker 12: She was the black woman shot to death by a
Speaker 12: white deputy in her home after she called nine one
Speaker 12: one about possible intruders. Sangamon County Sheriff Jack Campbell spoke
Speaker 12: at a community meeting in response to outrage over the
Speaker 12: shooting at protest nationwide.
Speaker 11: I'm sorry, she Calfordhall and Fair.
Speaker 12: The now fire Deputy Sean Grayson is charged with homicide
Speaker 12: a horrible knife attack in Britain. Police say at the
Speaker 12: stabbings at a children's dance class in northwest England yesterday
Speaker 12: killed two children and injured nine others. The event was
Speaker 12: a Taylor Swift themed dance and yoga event for children
Speaker 12: aged about six to eleven years old. It took place
Speaker 12: at a community center in Southport, near Liverpool. Chief Constable
Speaker 12: Serena Kennedy.
Speaker 9: When they arrived, they were shocked to find that multiple people,
Speaker 9: many of whom were children, had been subjected to a
Speaker 9: ferocious attack.
Speaker 12: Chief Kennedy says officials ever Ran hosted a seventeen year
Speaker 12: old boy in the incident. Today, New York's highest Court
Speaker 12: will hear the latest GOP challenge to the state's mail
Speaker 12: in Voting Act. They argue the Democrats violated the state
Speaker 12: constitution when they passed the early voting law last year,
Speaker 12: but New York state political expert Michael Krasner says that's
Speaker 12: not what this is really all about.
Speaker 5: What's really on their mind is winning and losing elections,
Speaker 5: and in general, the easier it is for people to vote,
Speaker 5: the better Democrats do, and the more likely Republicans are
Speaker 5: to lose.
Speaker 12: Krasner says, what the legislation is doing is protecting and
Speaker 12: extending a basic right. Global news twenty four hours a
Speaker 12: day and whenever you want it with the Bloomberg News Now,
Speaker 12: I'm Michael Barr, and this is Bloomberg Karen.
Speaker 7: All right, Michael Barr, thank you.
Speaker 1: Time now for the Bloomberg Sports Update with John stash Hour.
Speaker 13: John, Good morning, Good morning Karen, easy victories for the
Speaker 13: Mets and Yankees. The only drama was in scene which
Speaker 13: New York team would score the most runs.
Speaker 12: It was the Mets.
Speaker 13: They walloped the Twins at City Field fifteen to two.
Speaker 13: Scored all their runs in three innings, six in the fourth,
Speaker 13: five and the sixth four more on the eighth. Mets
Speaker 13: had seventeen hits, only one homer, that from Pete Alonzo.
Speaker 13: The Yankees hit six home runs in Philadelphia, and sure
Speaker 13: enough for pair from the captain.
Speaker 7: March's pitch to swim on.
Speaker 12: Oh hit in the air to d blaff. There it
Speaker 12: goes way back.
Speaker 7: Oh hoy, useemy.
Speaker 2: Go, Oh what a shot?
Speaker 7: Sharon Judge his second.
Speaker 1: Barb of the night.
Speaker 13: Wfan had It's a Judge now thirty nine homers on
Speaker 13: the season, and welcome to the Yankees. Jazz Chisholm his
Speaker 13: second game of his new team, he homer twice. Ben
Speaker 13: Rice and Anthony Volpe also left the Yard Yanks all
Speaker 13: over the Major League leading Phillies fourteen to four. Yanks
Speaker 13: have scored forty runs in their last four games, only
Speaker 13: half game behind Baltimore, who' split a doublehead of with Toronto,
Speaker 13: last place Blue Jays, waving the white flag in their season,
Speaker 13: traded Justin Turner to Seattle. Pitcher use Kakuchi, the Houston
Speaker 13: outfielder Lane Thomas going from Washington to Cleveland. Cincinnati traded
Speaker 13: Frankie Montest in Milwaukee. The Giants del Jorge Solaiir to Atlanta.
Speaker 13: The trade deadline six o'clock Today. At the Olympics, US
Speaker 13: won a couple of silver medals five bronze. They still
Speaker 13: have only three gold medals that could change today in
Speaker 13: the women's gymnastics finals. Simone Biles will be in all
Speaker 13: four events.
Speaker 12: In the pool.
Speaker 13: Yesterday, fifteen medals won by swimmers from ten different nations,
Speaker 13: and three golds were won by swimmers under the age
Speaker 13: of twenty one. Seventeen year old Canadian phenom Summer Macintosh
Speaker 13: won the four hundred am. She's expected to win a
Speaker 13: couple more goals. John Stashewer, Bloomberg Sports Kerry Newton.
Speaker 8: Coast to Coast on Bloomberg Radio, nationwide on Sirius XM,
Speaker 8: and around the world on Bloomberg dot Com and the
Speaker 8: Bloomberg Business app. This is Bloomberg Daybreak. Good morning.
Speaker 3: I'm Nathan Hager, watching political developments on a couple of
Speaker 3: fronts this morning. In Venezuela, the opposition says it can
Speaker 3: prove candidated. Mundo Gonzalez defeated President Nicholas Maduro on Sunday
Speaker 3: in a landslide. While here in the US, former President
Speaker 3: Donald Trump's going back and forth on whether he wants
Speaker 3: to debate his new opponent in the twenty twenty four race.
Speaker 3: Vice President Kamala Harris. For the latest on all the
Speaker 3: politics were joined now by Bloomberg News Senior editor Bill Ferries. Bill,
Speaker 3: good morning, What is the latest in this disputed election
Speaker 3: result in Venezuela. Maduro The president has been declared the winner,
Speaker 3: but the opposition apparently says it's got a pretty significant
Speaker 3: tally of its own.
Speaker 12: Right.
Speaker 14: We saw thousands of people taking to the streets, not
Speaker 14: just in Caracas, but in some other parts of the
Speaker 14: country and within Caracas in neighborhoods that have in the
Speaker 14: past been more pro Maduro. So it's a very tense situation.
Speaker 14: The opposition says that it has seen detailed voter data
Speaker 14: that shows they had an irreversible win with more than
Speaker 14: double the vote count for their candidate at Mundo Gonzala
Speaker 14: US than what Maduro got so we have to see
Speaker 14: what happens as morning unfolds there in South America, the
Speaker 14: opposition has called for what they're calling citizen assemblies to
Speaker 14: begin taking place around eleven eleven thirty am, and other
Speaker 14: news related to that. President Biden is expected to have
Speaker 14: a call with Brazil's president today as well to discuss
Speaker 14: the situation. And Venezuela's government, meanwhile, has said has accused
Speaker 14: the opposition of trying to rig the election, and we
Speaker 14: haven't seen arrest warrants go out for the opposition leaders,
Speaker 14: but that's something that their supporters, opposition supporters are watching
Speaker 14: out for.
Speaker 3: Apart from those next steps, including that conversation between the
Speaker 3: president and Brazil's leader, who's been a traditional ally I
Speaker 3: believe of Maduro. Unless I'm mistaken, I guess the ball
Speaker 3: is in now Maduro's court to show that the election
Speaker 3: results as certified by the Electoral Center are indeed valid.
Speaker 14: Maduro government and going back before him, his predecessor, Hugo Chavez,
Speaker 14: I mean, all the major elections that they had were
Speaker 14: tainted by accusations of fraud, but it definitely feels different
Speaker 14: this time. The opposition was pretty buoyant heading into the
Speaker 14: Sunday vote, there is widespread doubt even some of Maduro's
Speaker 14: more traditional allies. You mentioned Brazil, but also the government
Speaker 14: in Mexico, government in Colombia, a little more left leaning governments.
Speaker 14: They have so far not really you know, stepped up
Speaker 14: to congratulate Maduro. They say they want to see more
Speaker 14: transparency about how these votes, how these votes played out,
Speaker 14: and what the breakdown was.
Speaker 3: Meanwhile, we've got a whole new race here in the
Speaker 3: US with President former President Trump now facing Vice President
Speaker 3: Harrison and kind of going back and forth on whether
Speaker 3: he's going to commit to a debate with Harris or
Speaker 3: even agree to a debate.
Speaker 14: He certainly seems to be trying to keep his options open.
Speaker 14: He says, yes, cell debate, but you know, I may
Speaker 14: not he you know, the official line has been that
Speaker 14: the Republicans are waiting for the Democrats to officially make
Speaker 14: Kamala Harris their nominee. That should happen by I think
Speaker 14: August seventh is the date for that. But yeah, there's
Speaker 14: some hemming and hawing about whether it'll take place. Maybe
Speaker 14: there'll be adjustments to the date. The September tenth date.
Speaker 14: Trump has also said he'd like to see it hosted
Speaker 14: by a different network than ABC. So those are some
Speaker 14: of the tweaks. But I think, certainly, I think both
Speaker 14: sides right now seem to be expecting a debate, but
Speaker 14: whether it happens on the terms previously agreed remains to
Speaker 14: be seen.
Speaker 2: This is Bloomberg day Break Today, your morning brief on
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