1 00:00:02,680 --> 00:00:05,920 Speaker 1: Line from the Bloomberg Interacted Burger Studios. This is Bloomberg 2 00:00:05,960 --> 00:00:09,720 Speaker 1: day Break for Thursday to seven two. Coming up this hour, 3 00:00:10,039 --> 00:00:13,280 Speaker 1: Boris Johnson plans to resign as British Prime Minister. We 4 00:00:13,320 --> 00:00:15,840 Speaker 1: are live in London with the very latest. The town 5 00:00:15,960 --> 00:00:19,720 Speaker 1: strengthens on the resignation news as European stocks climb, Fed 6 00:00:19,760 --> 00:00:22,640 Speaker 1: officials stick to their rate high Plant to curb inflation, 7 00:00:22,920 --> 00:00:26,439 Speaker 1: and Samsung starts a rally in chip stocks. New York 8 00:00:26,480 --> 00:00:29,720 Speaker 1: Mayor Eric Adams holds a round table discussion on city 9 00:00:29,760 --> 00:00:32,640 Speaker 1: issues plus looking for a motive for the Island Park, 10 00:00:32,680 --> 00:00:36,120 Speaker 1: Illinois shooter. I'm Michael barn More Ahead, I'm Stashow in 11 00:00:36,200 --> 00:00:38,800 Speaker 1: sports attending win for the Mets, a lopsided win for 12 00:00:38,800 --> 00:00:40,960 Speaker 1: the Yankees. They make their first visit to the Red 13 00:00:41,000 --> 00:00:46,720 Speaker 1: Sox tonight. That's all strad Ahead on Bloomberg day Break 14 00:00:46,960 --> 00:00:51,160 Speaker 1: on Bloomberg e Living Free on New York, Bloomberg one, Washington, 15 00:00:51,280 --> 00:00:55,080 Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine sixties, 16 00:00:55,120 --> 00:00:59,160 Speaker 1: San Francisco, Syrius XM one nineteen and around the world 17 00:00:59,240 --> 00:01:02,760 Speaker 1: on Bloomberg Radio dot Com and via the Bloomberg Business Act, 18 00:01:06,640 --> 00:01:11,160 Speaker 1: Broadcasting live from the Bloomberg Interacted. Good morning. I'm Nathan 19 00:01:11,160 --> 00:01:14,560 Speaker 1: Hagar and I'm Karen Moscow. US Nock index futures are 20 00:01:14,560 --> 00:01:16,680 Speaker 1: on the rise this morning. We're coming up to six 21 00:01:16,680 --> 00:01:18,479 Speaker 1: oh one on Wall Street, and we check the markets 22 00:01:18,520 --> 00:01:21,760 Speaker 1: every fifteen minutes throughout the trading day on Bloomberg. Right now, 23 00:01:21,959 --> 00:01:24,480 Speaker 1: S and P futures are up seven points down, futures 24 00:01:24,520 --> 00:01:28,080 Speaker 1: up seventy, nasdack futures up thirty. The decks in Germany's 25 00:01:28,160 --> 00:01:30,399 Speaker 1: up one and a half percent, The ten year treasury 26 00:01:30,440 --> 00:01:33,600 Speaker 1: down ten thirty seconds, guild two point nine six percent, 27 00:01:33,680 --> 00:01:36,280 Speaker 1: and they yield on the two year three point oh 28 00:01:36,319 --> 00:01:39,280 Speaker 1: three percent. Nathan, all right, Karen, we begin this morning 29 00:01:39,280 --> 00:01:42,440 Speaker 1: with breaking developments out of the UK. The time apparently 30 00:01:42,640 --> 00:01:46,200 Speaker 1: is up for Boris Johnson, the Prime Minister is finally 31 00:01:46,280 --> 00:01:48,800 Speaker 1: ready to resign. Let's go live to London get the 32 00:01:48,840 --> 00:01:52,120 Speaker 1: latest with Bloomberg's Un Potts. Good morning, Good morning, Nathan 33 00:01:52,160 --> 00:01:55,120 Speaker 1: and Karen. Boris Johnson says he is quitting as Britain's 34 00:01:55,160 --> 00:01:57,960 Speaker 1: Prime minister. Even by recent stantards. It is being a 35 00:01:58,080 --> 00:02:01,960 Speaker 1: dramatic day on Downing Street, a snowstorm of resignations from 36 00:02:02,000 --> 00:02:04,920 Speaker 1: the governments at the beginning of week became an avalanche 37 00:02:05,000 --> 00:02:08,760 Speaker 1: by yesterday, In total, more than fifty ministers and aids 38 00:02:08,960 --> 00:02:12,280 Speaker 1: leaving their posts in protests, and perhaps the final blow 39 00:02:12,360 --> 00:02:15,120 Speaker 1: came today when the Chancellor, the second most senior member 40 00:02:15,160 --> 00:02:17,679 Speaker 1: of the government's only appointed to the job on Tuesday, 41 00:02:17,919 --> 00:02:21,560 Speaker 1: tweeted that Boris Johnson must go now. Well, the PM 42 00:02:21,600 --> 00:02:23,960 Speaker 1: has finally given up the fight and it's now preparing 43 00:02:24,040 --> 00:02:27,440 Speaker 1: his resignation speech. Nathan, Well, when are we expecting Boris 44 00:02:27,560 --> 00:02:29,800 Speaker 1: Johnson to actually leave our first you and what are 45 00:02:29,800 --> 00:02:32,720 Speaker 1: the next steps for the UK government? Well, today's news 46 00:02:32,800 --> 00:02:35,359 Speaker 1: means that the UK sets have its fourth leader in 47 00:02:35,560 --> 00:02:38,920 Speaker 1: just six years now. Remember, the Conservative Party still has 48 00:02:38,960 --> 00:02:41,560 Speaker 1: a majority in Parliament, so it's up to the party 49 00:02:41,720 --> 00:02:44,160 Speaker 1: to choose a new leader, who would then take over 50 00:02:44,320 --> 00:02:47,320 Speaker 1: as the British Prime Minister. A leadship contest will get 51 00:02:47,400 --> 00:02:50,000 Speaker 1: underway in the coming days, with the new Prime Minister 52 00:02:50,160 --> 00:02:53,520 Speaker 1: likely to be in place by October. Live in London. 53 00:02:53,560 --> 00:02:55,919 Speaker 1: I'm your part's been big day, breaking you and thank you. 54 00:02:56,000 --> 00:02:58,160 Speaker 1: We of course will be following this story throughout the 55 00:02:58,320 --> 00:03:01,000 Speaker 1: day and we're checking market reaction as well. The pound 56 00:03:01,080 --> 00:03:03,639 Speaker 1: strengthening on the news is at one point one nine 57 00:03:03,720 --> 00:03:07,040 Speaker 1: nine against the dollar. Stocks in Europe are rallying. The 58 00:03:07,160 --> 00:03:10,200 Speaker 1: stock six hundred is up one point three percent and 59 00:03:10,280 --> 00:03:12,440 Speaker 1: the foot Sea one hundred in London is up one 60 00:03:12,520 --> 00:03:14,880 Speaker 1: point one percent. Stay with us for the latest on 61 00:03:14,960 --> 00:03:18,280 Speaker 1: Boris Johnson throughout the morning here on Bloomberg Radio. Well 62 00:03:18,360 --> 00:03:21,440 Speaker 1: Well Britain grapples with political termoil Karen. The war in 63 00:03:21,600 --> 00:03:24,520 Speaker 1: Ukraine rages on, and now the US and its allies 64 00:03:24,520 --> 00:03:26,680 Speaker 1: are firming up plans for a cap on the price 65 00:03:26,760 --> 00:03:29,400 Speaker 1: of Russian oil to limit the Kremlin's ability to finance 66 00:03:29,480 --> 00:03:32,280 Speaker 1: its war. Amy Morris has the details from our Bloomberg 67 00:03:33,000 --> 00:03:36,960 Speaker 1: newsroom in Washington. They're discussing a cap between forty and 68 00:03:37,120 --> 00:03:40,119 Speaker 1: sixty dollars a barrel. The aim is to cut Moscow's 69 00:03:40,200 --> 00:03:42,880 Speaker 1: revenue for its war in Ukraine, but the risk is 70 00:03:43,000 --> 00:03:45,080 Speaker 1: that it would lead to a spike in oil prices. 71 00:03:45,320 --> 00:03:48,880 Speaker 1: German Chancellor Olof Schaltz accused Russia of using natural gas 72 00:03:48,960 --> 00:03:52,320 Speaker 1: deliveries as a political weapon. The invasion of Ukraine has 73 00:03:52,360 --> 00:03:56,000 Speaker 1: also forced several European countries to dial back their plans 74 00:03:56,080 --> 00:03:59,480 Speaker 1: for decarbonization so they can compensate for those cuts in 75 00:03:59,600 --> 00:04:04,119 Speaker 1: Russian fuel supplies. In Washington. I'm anymore at Bloomberg Daybreak, Amy, 76 00:04:04,160 --> 00:04:06,360 Speaker 1: thank you about turning to the economy. Investors are still 77 00:04:06,440 --> 00:04:09,560 Speaker 1: reacting to yesterday's Fed minutes, and they're also looking ahead 78 00:04:09,560 --> 00:04:12,000 Speaker 1: to tomorrow's jobs report, and we get the details live 79 00:04:12,080 --> 00:04:15,320 Speaker 1: with Bloomberg's John Tucker. John Karen Minnets from the Fed, 80 00:04:15,360 --> 00:04:18,400 Speaker 1: show's central bank officials solidified the resolved to keep raising 81 00:04:18,480 --> 00:04:22,440 Speaker 1: industrates for longer, the view maintaining the central banks credibility 82 00:04:22,520 --> 00:04:25,800 Speaker 1: to control inflation is crucial. Well, that has the investors 83 00:04:25,839 --> 00:04:28,120 Speaker 1: still batting the Fed will hike by seventy five basis 84 00:04:28,160 --> 00:04:31,919 Speaker 1: points later this month. Meantime, economist forecast US employers added 85 00:04:32,000 --> 00:04:35,240 Speaker 1: the fewest jobs in over a year in June. Well, 86 00:04:35,279 --> 00:04:38,280 Speaker 1: they say that expected slowdown isn't too concerning just yet. 87 00:04:38,560 --> 00:04:41,039 Speaker 1: The jobs report from the Labor Department expeted to show 88 00:04:41,240 --> 00:04:44,920 Speaker 1: the unemployment rate remaining at in historically low level. Live 89 00:04:45,000 --> 00:04:48,040 Speaker 1: in New York, I'm John Tucker, Bloomberg Daybreak. All right, John, Thanks, 90 00:04:48,120 --> 00:04:50,200 Speaker 1: let's talk about an economy of a difference sort Now. 91 00:04:50,360 --> 00:04:53,080 Speaker 1: Billionaires and high flyers from the tech and media worlds 92 00:04:53,120 --> 00:04:55,480 Speaker 1: are in Sun Valley, Idaho for the annual Allen and 93 00:04:55,640 --> 00:04:59,240 Speaker 1: Company conference. So's Bloomberg's at Ludlow. He filed this report 94 00:04:59,680 --> 00:05:02,280 Speaker 1: a of the big picture macro items of what a 95 00:05:02,360 --> 00:05:05,920 Speaker 1: top of mind. There are discussions around inflation, recession risk, 96 00:05:06,040 --> 00:05:10,160 Speaker 1: the volatility that we've seen in public equity markets, the 97 00:05:11,279 --> 00:05:15,440 Speaker 1: rundown evaluations that we've seen in both public and private markets. 98 00:05:15,520 --> 00:05:18,680 Speaker 1: But behind closed doors, all of these high fliers were 99 00:05:18,680 --> 00:05:21,680 Speaker 1: also talking about a number of societal issues, ranging from 100 00:05:22,120 --> 00:05:25,719 Speaker 1: gun control to recent decisions by the Supreme Court. They're 101 00:05:25,720 --> 00:05:29,960 Speaker 1: also discussing issues of climate change. No site yet of 102 00:05:30,080 --> 00:05:33,239 Speaker 1: Elon Musk, the world's richest man, is coming to some valley, 103 00:05:33,240 --> 00:05:38,400 Speaker 1: according to sources. Ed Ludlow for Bloomberg News in Sun Valley, Idaho. Yeah. Thanks. 104 00:05:38,480 --> 00:05:40,680 Speaker 1: We're also learning Elon Musk is expected to speak at 105 00:05:40,720 --> 00:05:43,880 Speaker 1: the conference on its final day this Saturday. And Nathan 106 00:05:44,000 --> 00:05:47,040 Speaker 1: staying with tech, we have news on Apple. Bloomberg News 107 00:05:47,120 --> 00:05:50,240 Speaker 1: has learned the company's planning and extreme sports. Watch and 108 00:05:50,360 --> 00:05:52,440 Speaker 1: we get the latest live with the Bloomberry Shore. I 109 00:05:52,520 --> 00:05:55,200 Speaker 1: need a young good morning, ready to good morning, Karen Bloomberg. 110 00:05:55,279 --> 00:05:58,400 Speaker 1: Sources say Apple's new smart Blatch will be the largest 111 00:05:58,520 --> 00:06:02,200 Speaker 1: display it's least to date, with a bigger battery and 112 00:06:02,320 --> 00:06:07,160 Speaker 1: a rugged metal casing, and it's geared toward extreme sports athletes. Now, 113 00:06:07,240 --> 00:06:09,880 Speaker 1: Apple could use the largest green area to show more 114 00:06:10,000 --> 00:06:13,400 Speaker 1: fitness metrics or information on watch faces at one time. 115 00:06:13,880 --> 00:06:16,360 Speaker 1: The company plans to announce the new watch, along with 116 00:06:16,480 --> 00:06:19,479 Speaker 1: two other models later this year. Live in New York, 117 00:06:19,520 --> 00:06:22,360 Speaker 1: I'm reneed a young Bloomberg papriate. Okay, we need a thanks. 118 00:06:22,440 --> 00:06:25,479 Speaker 1: Chip stocks are moving higher this morning thanks to Samsung Electronics, 119 00:06:25,720 --> 00:06:29,080 Speaker 1: South Korea's largest company, reported a better than anticipated twenty 120 00:06:29,120 --> 00:06:32,560 Speaker 1: one jump in revenue. The report is soothing investors worst 121 00:06:32,640 --> 00:06:35,279 Speaker 1: fears about the impact of weakening consumer demand and soaring 122 00:06:35,360 --> 00:06:38,920 Speaker 1: materials costs on the five fifty billion dollar chip industry 123 00:06:39,240 --> 00:06:41,880 Speaker 1: and Deale news. Nathan the Wall Street Journal reporting Mark 124 00:06:42,040 --> 00:06:45,480 Speaker 1: is in talks to acquire a biotech company, Sigen. Paper 125 00:06:45,520 --> 00:06:47,800 Speaker 1: said that Deale could be worth about forty billion dollars 126 00:06:47,880 --> 00:06:50,480 Speaker 1: and Cigen shares are up six percent in early trading, 127 00:06:50,680 --> 00:06:52,640 Speaker 1: and sharers of game Stop up nine percent in the 128 00:06:52,680 --> 00:06:55,200 Speaker 1: pre market. Karen, the company became the poster challenge for 129 00:06:55,279 --> 00:06:57,880 Speaker 1: so called meme stocks. Now it's announced a four to 130 00:06:58,000 --> 00:06:59,800 Speaker 1: one stock split in the form of an diven end 131 00:07:00,080 --> 00:07:02,440 Speaker 1: and again futures are on the rise this morning, SMP 132 00:07:02,640 --> 00:07:05,680 Speaker 1: futures up about eight points down, futures up eighty nine, 133 00:07:05,720 --> 00:07:08,680 Speaker 1: and NASTAGG futures are up thirty five. The decks in 134 00:07:08,760 --> 00:07:11,320 Speaker 1: Germany up one point four percent, the ten year treasury 135 00:07:11,400 --> 00:07:14,640 Speaker 1: down nine thirty seconds two point nine six percent. Straight 136 00:07:14,680 --> 00:07:17,680 Speaker 1: ahead your latest of local headlines plus a check of sports, 137 00:07:17,840 --> 00:07:23,960 Speaker 1: and this is Bloomberg. I can't thank you. It is 138 00:07:24,040 --> 00:07:25,840 Speaker 1: six oh seven on Wall Street where it's seventy one 139 00:07:25,880 --> 00:07:28,680 Speaker 1: degrees in Central Park. Still dealing with the accident South 140 00:07:28,720 --> 00:07:31,360 Speaker 1: found New York State three eggs at fifteen A details 141 00:07:31,400 --> 00:07:34,080 Speaker 1: coming up in traffic. Michael barrs here first though, with 142 00:07:34,200 --> 00:07:36,040 Speaker 1: more on what's going on in New York and around 143 00:07:36,040 --> 00:07:38,680 Speaker 1: the world. Comning, Michael, Good Morning, Nathan. New York Mayor 144 00:07:38,840 --> 00:07:42,600 Speaker 1: Eric Adams held around table style meeting involving community groups 145 00:07:42,640 --> 00:07:46,160 Speaker 1: and the NYPD. Adams was asked last night about the 146 00:07:46,200 --> 00:07:49,600 Speaker 1: problem of abuse of landlords in the city. We're going 147 00:07:49,720 --> 00:07:53,640 Speaker 1: to go back and see how we use the Human 148 00:07:53,760 --> 00:07:57,120 Speaker 1: Rights Division, the Police Department of the A's Office to 149 00:07:57,560 --> 00:08:01,400 Speaker 1: target those who arrests who are harassed send older adults 150 00:08:02,160 --> 00:08:05,239 Speaker 1: because you know it's it's against the law to illegally 151 00:08:05,440 --> 00:08:08,520 Speaker 1: vic it's against the law to arrass, and I don't 152 00:08:08,560 --> 00:08:11,240 Speaker 1: think there's enough attention on zero and on those bad 153 00:08:11,280 --> 00:08:15,080 Speaker 1: acting on landlords. Mayor Adams dealt with a range of issues, 154 00:08:15,200 --> 00:08:19,200 Speaker 1: from oversight of homeless shelters and the budget. Adams said 155 00:08:19,320 --> 00:08:21,840 Speaker 1: the police budget remained flat. We can't live in a 156 00:08:21,920 --> 00:08:24,720 Speaker 1: city where young people pick up a gun faster than 157 00:08:24,840 --> 00:08:28,920 Speaker 1: they can get an iPad. Days after a rooftop gunmen 158 00:08:29,040 --> 00:08:32,080 Speaker 1: killed seven people at the Chicago area Fourth of July parade, 159 00:08:32,360 --> 00:08:36,320 Speaker 1: attention has turned to how the assailant obtained multiple guns. 160 00:08:36,640 --> 00:08:39,720 Speaker 1: Authorities say Robert Cremo, the third, confessed to the killings. 161 00:08:39,960 --> 00:08:44,040 Speaker 1: Highland Park Police Chief Lou Jogman says he's quote disappointed 162 00:08:44,520 --> 00:08:47,160 Speaker 1: that more couldn't have been done to prevent Cremo from 163 00:08:47,200 --> 00:08:49,640 Speaker 1: getting his hands on a gun. Given the constraints of 164 00:08:49,679 --> 00:08:51,679 Speaker 1: what we have in place, there is only so much 165 00:08:52,040 --> 00:08:54,520 Speaker 1: the police department can do. We have a social worker 166 00:08:54,559 --> 00:08:57,160 Speaker 1: on board, you know, we do what we can. Chief 167 00:08:57,240 --> 00:09:00,360 Speaker 1: Jogman says Cremo was heading a Madison, was on send 168 00:09:00,400 --> 00:09:03,640 Speaker 1: to carry out another attack, but changed his mind. W 169 00:09:03,920 --> 00:09:07,520 Speaker 1: NBA star Britney Grinder's drug trial resumes today in Russia, 170 00:09:07,800 --> 00:09:10,839 Speaker 1: where she has been held since February. The White House 171 00:09:10,880 --> 00:09:14,040 Speaker 1: says President Biden and Vice President Kamala Harris have called 172 00:09:14,120 --> 00:09:17,880 Speaker 1: Grinder's wife directly to reassure her that he's working to 173 00:09:18,000 --> 00:09:22,240 Speaker 1: secure Brittney's release as soon as possible. Friends and fans 174 00:09:22,559 --> 00:09:25,280 Speaker 1: of Brittney Grinder held a rally and Phoenix to show 175 00:09:25,320 --> 00:09:29,080 Speaker 1: support for the w NBA star. Grinder's wife, Cheryl, Let's 176 00:09:29,160 --> 00:09:32,280 Speaker 1: make sure this administration knows that they have our support 177 00:09:32,400 --> 00:09:36,040 Speaker 1: to do whatever is necessary, and that we are not 178 00:09:36,200 --> 00:09:40,560 Speaker 1: going to ever be quiet until she's home safely. Truill 179 00:09:40,640 --> 00:09:43,520 Speaker 1: Grinner asked supporters to keep pressure on the administration to 180 00:09:43,559 --> 00:09:46,719 Speaker 1: get Brittney released. One of the former officers convicted in 181 00:09:46,760 --> 00:09:48,760 Speaker 1: the death of George Floyd will be sentenced today in 182 00:09:48,800 --> 00:09:52,800 Speaker 1: federal court. Former Minneapolis police officer Derek Schaubin was already 183 00:09:52,880 --> 00:09:54,840 Speaker 1: sentenced to more than twenty two years in a state 184 00:09:54,920 --> 00:09:57,719 Speaker 1: court for Floyd's murder. Global News twenty four hours a 185 00:09:57,800 --> 00:10:00,480 Speaker 1: day on airand on Bloomberg Quicktake Power by or the twenties, 186 00:10:00,480 --> 00:10:03,040 Speaker 1: seven hundred journalists analysts, more than a hundred, twenty countries. 187 00:10:03,240 --> 00:10:10,680 Speaker 1: I'm Michael bar this is Bloomberg Nathan, thanks Michael, coming 188 00:10:10,760 --> 00:10:12,720 Speaker 1: up to six ten on Wall Street. John Stashar has 189 00:10:12,720 --> 00:10:15,280 Speaker 1: the Bloomberg Sports updated. All right, Nathan. The Mets, after 190 00:10:15,320 --> 00:10:17,480 Speaker 1: being cursed about the return of Max Scherz or Jacob 191 00:10:17,600 --> 00:10:20,559 Speaker 1: Graham getting closer, but as they trailed last night in Cincinnati, 192 00:10:20,600 --> 00:10:22,280 Speaker 1: and they mud have taking a pick at the storeboards 193 00:10:22,320 --> 00:10:25,199 Speaker 1: in in Atlanta leading yet again, something like the red 194 00:10:25,240 --> 00:10:27,840 Speaker 1: Hot Braves might close within a game and a half. 195 00:10:27,960 --> 00:10:30,160 Speaker 1: But I met rally game time rb I double the 196 00:10:30,240 --> 00:10:32,480 Speaker 1: ninth the ny for Sterling Marte and they went to 197 00:10:32,559 --> 00:10:35,880 Speaker 1: the ten on one pitch demo, trills it deep to 198 00:10:36,000 --> 00:10:38,960 Speaker 1: right fields, hed A core de seats n went back 199 00:10:39,200 --> 00:10:45,720 Speaker 1: at the fence with a three run hover. The Met's 200 00:10:45,760 --> 00:10:48,439 Speaker 1: a broken the game open. They got top of the 201 00:10:48,600 --> 00:10:51,760 Speaker 1: ten nic It's eight to three. That was the final 202 00:10:51,920 --> 00:10:54,640 Speaker 1: w CBS had at the Braves Blank Cardinals three nothing 203 00:10:54,679 --> 00:10:57,440 Speaker 1: there twenty six and seven over the last thirty three games, 204 00:10:57,440 --> 00:10:59,680 Speaker 1: the Met leaders two and a half. I host Miami 205 00:10:59,760 --> 00:11:03,120 Speaker 1: tonight Monday. The Mets visit Atlanta Yankee tonight make their 206 00:11:03,160 --> 00:11:05,559 Speaker 1: first visit of the season to Boston. They'll seek their 207 00:11:06,040 --> 00:11:09,120 Speaker 1: sixty win in Pittsburgh. Avoid that what would have been 208 00:11:09,160 --> 00:11:10,920 Speaker 1: just their second three game losing spick of the season 209 00:11:10,960 --> 00:11:14,600 Speaker 1: may wallop the Pirates sixteen enough. In twenty two, Yankee 210 00:11:14,679 --> 00:11:18,120 Speaker 1: had six home runs, including Aaron Judge's thirtieth of the year. 211 00:11:18,240 --> 00:11:20,800 Speaker 1: It was a Grand Slam actually came up Many Banduelos, 212 00:11:21,000 --> 00:11:23,959 Speaker 1: who was his Yankee teammate just two days ago, and 213 00:11:24,040 --> 00:11:26,719 Speaker 1: Wimbledon one a matt Raphael mcdell shook off as a 214 00:11:26,880 --> 00:11:29,480 Speaker 1: dominal injury, came from two sets to one down one 215 00:11:29,520 --> 00:11:32,360 Speaker 1: a fifth set timebreaker with American Taylor fitz Nadal says 216 00:11:32,400 --> 00:11:34,920 Speaker 1: he's not sure if he'll be healthy enough to play 217 00:11:34,920 --> 00:11:37,520 Speaker 1: a semifinal match tomorrow with the Austine Nick Curios will 218 00:11:37,520 --> 00:11:41,600 Speaker 1: have the women's semifinals today, Baker Mayfield and Sam Donald quarterbacks, 219 00:11:41,679 --> 00:11:45,319 Speaker 1: taking first and third overall. Back Ineen to Cleveland and 220 00:11:45,360 --> 00:11:47,280 Speaker 1: the Jets didn't work out for either one and now 221 00:11:47,400 --> 00:11:50,959 Speaker 1: they will be Carolina Panthers teammates. Mayfield traded by the 222 00:11:51,000 --> 00:11:54,720 Speaker 1: Browns yesterday. John stash Atward Bomberg Sports he Thanky john 223 00:11:54,880 --> 00:11:57,400 Speaker 1: SMP futures of seven points, Sound futures up eighty one, 224 00:11:57,480 --> 00:11:59,920 Speaker 1: nest Act futures up twenty nine points. Ten Your Treasury 225 00:12:00,040 --> 00:12:03,400 Speaker 1: yield two point nine five percent. You're listening to Bloomberg 226 00:12:03,480 --> 00:12:09,079 Speaker 1: day Break Bloomberg eleven three oh Weather mostly cloudy, some 227 00:12:09,120 --> 00:12:12,320 Speaker 1: afternoon showers possible today going up to near eighties, low eighties. 228 00:12:12,400 --> 00:12:15,880 Speaker 1: More showers likely tomorrow, mostly sunny, low eighties to start 229 00:12:15,960 --> 00:12:22,200 Speaker 1: the weekend. Right now seventy one and cloudy in Central Park. Markets, 230 00:12:22,320 --> 00:12:25,320 Speaker 1: headlines and breaking news twenty four hours a day at 231 00:12:25,400 --> 00:12:28,800 Speaker 1: Bloomberg dot Com, the Bloomberg Business at and at Bloomberg 232 00:12:28,880 --> 00:12:39,079 Speaker 1: Quicktake's a Bloomberg Business Flash and I'm Karin Moscow in 233 00:12:39,200 --> 00:12:43,760 Speaker 1: US dot Index futures are rising this morning, and so 234 00:12:44,120 --> 00:12:46,439 Speaker 1: is NIMEX Screwed oil. The foot see one hundred in 235 00:12:46,480 --> 00:12:49,480 Speaker 1: London is higher following news Boris Johnson plans to resign 236 00:12:49,520 --> 00:12:52,760 Speaker 1: as UK Prime Minister and it's you and tenure yield 237 00:12:52,800 --> 00:12:55,480 Speaker 1: curves remain inverted for a third day. We checked the 238 00:12:55,520 --> 00:12:58,439 Speaker 1: markets every fifteen minutes throughout the trading day. On Bloomberg 239 00:12:58,600 --> 00:13:01,520 Speaker 1: SMP future is up about seven points this morning now. 240 00:13:01,679 --> 00:13:04,600 Speaker 1: Futures of seventy seven as day features up thirty two. 241 00:13:04,760 --> 00:13:07,400 Speaker 1: The decks in Germany's a one point four percent, and 242 00:13:07,480 --> 00:13:09,760 Speaker 1: the foot see one hundred up one point one percent. 243 00:13:09,960 --> 00:13:12,480 Speaker 1: Ten year Treasury down six thirty seconds, held two point 244 00:13:12,600 --> 00:13:15,400 Speaker 1: nine five percent yield on the two year three point 245 00:13:15,640 --> 00:13:18,280 Speaker 1: one percent. Nine x Screwed oil is up eight ten 246 00:13:18,400 --> 00:13:21,000 Speaker 1: percent or seventy six cents at ninety nine dollars twenty 247 00:13:21,080 --> 00:13:23,480 Speaker 1: nine cents of barrel comes. Gold is up three ten 248 00:13:23,600 --> 00:13:26,160 Speaker 1: percent or five dollars ten cents at seventeen forty one 249 00:13:26,240 --> 00:13:29,400 Speaker 1: sixty announced. The euro one point oh two one two 250 00:13:29,559 --> 00:13:32,120 Speaker 1: against the dollar, British found one point two zero one 251 00:13:32,240 --> 00:13:34,640 Speaker 1: six and the end is at one thirty five point 252 00:13:34,840 --> 00:13:37,760 Speaker 1: nine at two. Looking at bitcoin in this morning, it 253 00:13:37,960 --> 00:13:41,160 Speaker 1: is higher, up seven tenths percent at twenty thousand, five 254 00:13:41,240 --> 00:13:44,280 Speaker 1: hundred dollars. That's a bloomberg business flams shown. Here's Michael 255 00:13:44,320 --> 00:13:46,400 Speaker 1: Barr with more on what's going on around the world. 256 00:13:46,559 --> 00:13:49,280 Speaker 1: Michael Karen, thank you very much. Outside of British feminister 257 00:13:49,440 --> 00:13:53,440 Speaker 1: Johnson agreeing to resign, jailed American basketball star Britney Grinder 258 00:13:53,480 --> 00:13:56,880 Speaker 1: returns to a Russian court today as calls increased for 259 00:13:56,960 --> 00:14:00,120 Speaker 1: Washington to do more to secure her release. Grinder is 260 00:14:00,160 --> 00:14:04,119 Speaker 1: detained in February and a Moscow airport after vade canisters 261 00:14:04,200 --> 00:14:08,280 Speaker 1: with cannabis oil allegedly were found in her luggage. In baseball, 262 00:14:08,360 --> 00:14:12,720 Speaker 1: the Yankees just clawber the Pirates sixteen nothing. The Mets 263 00:14:12,760 --> 00:14:16,280 Speaker 1: also won the Nationals. Orioles and Giants also winners. The 264 00:14:16,320 --> 00:14:19,400 Speaker 1: Red Sox lost. Along with the a's Global News twenty 265 00:14:19,440 --> 00:14:22,240 Speaker 1: four hours a day on air and on Bloomberg Quick Take, 266 00:14:22,480 --> 00:14:25,240 Speaker 1: powered by more than twenty seven hundred journalist analyists more 267 00:14:25,280 --> 00:14:27,600 Speaker 1: than a hundred twenty countries. Michael bar and this is 268 00:14:27,600 --> 00:14:30,120 Speaker 1: Bloomberg Nathin. All right, Michael, thank you, the six nineteen 269 00:14:30,160 --> 00:14:33,000 Speaker 1: on Wall Street, Live from the Bloomberg Interactive Broker Studios. 270 00:14:33,120 --> 00:14:35,440 Speaker 1: This is Bloomberg Daybreak. We want to get back to 271 00:14:35,520 --> 00:14:38,720 Speaker 1: our top story now. After a breathtaking forty eight hours 272 00:14:38,840 --> 00:14:42,880 Speaker 1: or so of government resignations in the UK, there is 273 00:14:42,960 --> 00:14:45,920 Speaker 1: about to be one more, as Boris Johnson is set 274 00:14:46,000 --> 00:14:49,840 Speaker 1: to announce he is leaving as Prime Minister. Bloomberg day 275 00:14:49,840 --> 00:14:52,840 Speaker 1: Break Europe anker Anna Edwards joins us for more on 276 00:14:52,920 --> 00:14:58,240 Speaker 1: this now live from outside Parliament in Westminster. Just give 277 00:14:58,320 --> 00:15:00,680 Speaker 1: us an idea of what the atmosphere is like right 278 00:15:00,720 --> 00:15:02,680 Speaker 1: now where you sit, you know, I mean, it's just 279 00:15:02,760 --> 00:15:07,120 Speaker 1: been amazing what's been happening over the last several days. Yeah, 280 00:15:07,160 --> 00:15:09,960 Speaker 1: this certainly, this is a story that's been building and building. 281 00:15:10,040 --> 00:15:12,520 Speaker 1: Nathan good to speech there. It's often said that leaders 282 00:15:12,600 --> 00:15:15,440 Speaker 1: go slowly, slowly and then very quickly. Well, that's sort 283 00:15:15,440 --> 00:15:18,320 Speaker 1: of how things feel here. Over the last weeks and months, 284 00:15:18,360 --> 00:15:20,720 Speaker 1: we've been tracking scandal after scandal that has faced the 285 00:15:20,720 --> 00:15:24,360 Speaker 1: Conservative Party. Well, that's finally all caught up with Boris Johnson. 286 00:15:24,680 --> 00:15:28,400 Speaker 1: Over the most recent days, many members, senior members of 287 00:15:28,600 --> 00:15:32,560 Speaker 1: his cabinet asking very openly questions about his leadership, many 288 00:15:32,640 --> 00:15:35,200 Speaker 1: of them resigning and as you say, many ministers resigning. 289 00:15:35,280 --> 00:15:38,040 Speaker 1: The total there I stopped counting after we got to 290 00:15:38,120 --> 00:15:41,160 Speaker 1: figure more than fifty, more than a third of his cabinet, 291 00:15:41,240 --> 00:15:43,880 Speaker 1: his ministers, his ministerial aids resigning saying they didn't want 292 00:15:43,880 --> 00:15:46,400 Speaker 1: to work for him anymore. It became very difficult for 293 00:15:46,480 --> 00:15:49,200 Speaker 1: him to find people to replace them, essentially, and so 294 00:15:49,360 --> 00:15:52,080 Speaker 1: we understand that Boris Johnson will resign this morning. We 295 00:15:52,120 --> 00:15:53,680 Speaker 1: expect that to happen in the next couple of hours. 296 00:15:54,120 --> 00:15:56,800 Speaker 1: It's been amazing to see how Boris Johnson has managed 297 00:15:56,840 --> 00:16:01,160 Speaker 1: to weather scandal after scandal through his relatively weren't premiership. 298 00:16:01,320 --> 00:16:04,640 Speaker 1: And what is it about this last scandal for him, 299 00:16:04,680 --> 00:16:08,920 Speaker 1: the Chris Pincher affair that's had so many of Boris 300 00:16:09,040 --> 00:16:13,240 Speaker 1: Johnson's own cabinet ministers decided this is enough. Well, I 301 00:16:13,320 --> 00:16:16,360 Speaker 1: think it tapped into concerns that many of them had already. 302 00:16:16,520 --> 00:16:18,680 Speaker 1: It was pushing in against an open door in that sense, 303 00:16:18,760 --> 00:16:22,200 Speaker 1: it raised questions about truthfulness, about how much they could 304 00:16:22,240 --> 00:16:25,280 Speaker 1: trust things at Number ten and the Prime Minister. We're 305 00:16:25,360 --> 00:16:28,440 Speaker 1: saying some of these ministers and other cabinet officials were 306 00:16:28,480 --> 00:16:30,280 Speaker 1: being given lines by Number ten and told to go 307 00:16:30,320 --> 00:16:32,040 Speaker 1: out in the media and defend the record of the 308 00:16:32,080 --> 00:16:35,120 Speaker 1: Prime Minister. And then subsequently those lines were then walked back. 309 00:16:35,200 --> 00:16:37,440 Speaker 1: Those lines were it turned out to be not true, 310 00:16:37,600 --> 00:16:39,440 Speaker 1: and so there was a lot of anger that that 311 00:16:40,080 --> 00:16:42,560 Speaker 1: ministers have put their own reputations on the line because 312 00:16:42,600 --> 00:16:46,160 Speaker 1: they believe what they had been told. That was the anger. 313 00:16:46,200 --> 00:16:48,160 Speaker 1: But this does go back further. This does go back 314 00:16:48,200 --> 00:16:50,120 Speaker 1: to all of the scandals before. The thing that's happened 315 00:16:50,320 --> 00:16:52,520 Speaker 1: in recent weeks is that we had a couple of 316 00:16:52,600 --> 00:16:54,960 Speaker 1: these by elections, which is sort of local elections that 317 00:16:55,040 --> 00:16:57,640 Speaker 1: happened outside the normal calendar of voting here in the UK, 318 00:16:58,040 --> 00:16:59,960 Speaker 1: and in both of those are just very small affair 319 00:17:00,000 --> 00:17:02,640 Speaker 1: as normally, but in both of those the Tories were 320 00:17:02,840 --> 00:17:07,760 Speaker 1: absolutely beaten and beaten from two different political sides. One 321 00:17:07,840 --> 00:17:10,480 Speaker 1: in one situation beaten by the Labor Party, in another 322 00:17:10,520 --> 00:17:12,760 Speaker 1: situation beaten by the Liberal Democrats. It was as if 323 00:17:12,960 --> 00:17:15,399 Speaker 1: the public were very angry in those by elections with 324 00:17:15,520 --> 00:17:18,679 Speaker 1: the Tory Party, and if Boris Johnson can't win elections, 325 00:17:18,960 --> 00:17:23,399 Speaker 1: then his Conservative Party support crumbled around him. It's interesting 326 00:17:23,480 --> 00:17:25,679 Speaker 1: you mentioned that because for a lot of observers here 327 00:17:25,720 --> 00:17:27,440 Speaker 1: on on this side of the world, you think a 328 00:17:27,560 --> 00:17:30,240 Speaker 1: prime minister is going to leave that sets up the 329 00:17:30,520 --> 00:17:33,520 Speaker 1: opposition potentially to take over. We know that's not what's 330 00:17:33,520 --> 00:17:36,480 Speaker 1: going to happen here though, It's going to be another leadership. 331 00:17:36,840 --> 00:17:39,600 Speaker 1: What does this mean for the opposition? What does this 332 00:17:39,720 --> 00:17:42,040 Speaker 1: mean the next time voters said to the polls to 333 00:17:42,119 --> 00:17:45,000 Speaker 1: decide who they want to run the country. Right, Well, yes, 334 00:17:45,040 --> 00:17:47,080 Speaker 1: and we don't have a presidential system obviously. We have 335 00:17:47,200 --> 00:17:49,159 Speaker 1: a system where you vote for your local MP and 336 00:17:49,280 --> 00:17:51,720 Speaker 1: that all adds up to numbers of members in Parliament 337 00:17:51,760 --> 00:17:53,760 Speaker 1: for a particular party. In the party with the most 338 00:17:53,800 --> 00:17:57,600 Speaker 1: members has the ability to form a government and therefore 339 00:17:57,760 --> 00:18:00,280 Speaker 1: putting place of prime minister. So if this prime minister goes, 340 00:18:00,520 --> 00:18:03,359 Speaker 1: the same party finds another prime minister to the Conservative 341 00:18:03,400 --> 00:18:05,959 Speaker 1: Party will whistle that list down to two and then 342 00:18:06,000 --> 00:18:07,840 Speaker 1: it will be up to the members of the Conservative 343 00:18:07,840 --> 00:18:11,359 Speaker 1: Party to vote on who they think will will make 344 00:18:11,400 --> 00:18:13,040 Speaker 1: a good prime minister. So this does not go back 345 00:18:13,080 --> 00:18:14,720 Speaker 1: to the country right now, and that's not the plan 346 00:18:14,800 --> 00:18:17,480 Speaker 1: at the moments anyway. But never say never. We are 347 00:18:17,640 --> 00:18:20,800 Speaker 1: officially a couple of years away still from another election, 348 00:18:20,840 --> 00:18:23,760 Speaker 1: probably twenty four that would be when we would expect 349 00:18:23,800 --> 00:18:25,680 Speaker 1: to have an in another election. All those these things 350 00:18:25,720 --> 00:18:28,720 Speaker 1: are not set in stone. The Labor leadership has or 351 00:18:28,720 --> 00:18:32,439 Speaker 1: the Labor Party has been gaining in the polls because 352 00:18:32,480 --> 00:18:35,119 Speaker 1: of the turmoil that the Conservative Party has faced, but 353 00:18:35,240 --> 00:18:37,280 Speaker 1: I'm not sure they would describe their position as entirely 354 00:18:37,320 --> 00:18:40,159 Speaker 1: comfortable just yet. Only about a minute left here, Anivors 355 00:18:40,560 --> 00:18:42,760 Speaker 1: told that Boris Johnson plans to stay on as a 356 00:18:42,840 --> 00:18:45,840 Speaker 1: caretaker prime minister through October. Can he hang on that 357 00:18:46,040 --> 00:18:49,840 Speaker 1: long ago with so little support from his own party, Well, 358 00:18:49,920 --> 00:18:51,920 Speaker 1: it's interesting they are getting back to governing. So we 359 00:18:52,040 --> 00:18:54,120 Speaker 1: understand that he has been giving out some of these 360 00:18:54,600 --> 00:18:56,800 Speaker 1: new roles to because people resigned. He had to still 361 00:18:56,840 --> 00:18:59,199 Speaker 1: those positions, and people have started accepting them now as 362 00:18:59,240 --> 00:19:01,159 Speaker 1: if there is a sense that okay, if they's got 363 00:19:01,240 --> 00:19:03,560 Speaker 1: to be caretaker people in positions, we need to get 364 00:19:03,640 --> 00:19:05,800 Speaker 1: on with doing the governing. So there is that sense. 365 00:19:05,840 --> 00:19:07,800 Speaker 1: But yeah, a lot of people are openly asking whether 366 00:19:07,880 --> 00:19:10,240 Speaker 1: it is appropriate for somebody who has made so many 367 00:19:10,280 --> 00:19:12,480 Speaker 1: people so angry and behaving the way he has, whether 368 00:19:12,560 --> 00:19:14,639 Speaker 1: it is okay. Well, we'll probably learn a lot more 369 00:19:14,680 --> 00:19:16,600 Speaker 1: about that over the weekend. Yeah, and we're gonna learn 370 00:19:16,600 --> 00:19:18,800 Speaker 1: a lot more as well when Boris Johnson takes to 371 00:19:18,840 --> 00:19:23,560 Speaker 1: the podium. We're told later today, uh, for that resignation announcement. 372 00:19:23,560 --> 00:19:25,760 Speaker 1: Anna Edwards Bloomberg day Break, you're a banker with us 373 00:19:25,840 --> 00:19:29,280 Speaker 1: this morning outside Parliament in Westminster. Anna, thank you for 374 00:19:29,400 --> 00:19:31,800 Speaker 1: the insights and for that update. We'll be bringing you 375 00:19:32,440 --> 00:19:38,320 Speaker 1: Boris Johnson's resignation announcement. That's expected sometime around midday London time. 376 00:19:38,359 --> 00:19:41,040 Speaker 1: According to Sky News, it's eleven twenty four in the 377 00:19:41,160 --> 00:19:44,040 Speaker 1: morning in London right now, so in the next couple 378 00:19:44,080 --> 00:19:47,359 Speaker 1: of hours we're expecting Boris Johnson to make his announcement. 379 00:19:47,400 --> 00:19:49,399 Speaker 1: We will bring it to you, of course, live right 380 00:19:49,480 --> 00:19:52,800 Speaker 1: here on Bloomberg Radio looking ahead to the market. Open 381 00:19:52,960 --> 00:19:56,200 Speaker 1: futures are a bit higher. SMP futures up seven point, 382 00:19:56,240 --> 00:19:59,560 Speaker 1: Staff futures up a D two, NASAC futures a gain 383 00:19:59,600 --> 00:20:07,920 Speaker 1: of six points. You're listening to Bloomberg Daybreak Bloomberg eleven 384 00:20:07,960 --> 00:20:10,760 Speaker 1: three oh Weather mostly cloudy, some afternoon showers possible, with 385 00:20:10,800 --> 00:20:13,280 Speaker 1: a high near eighty degrees today, low eighties tomorrow with 386 00:20:13,359 --> 00:20:15,840 Speaker 1: more showers likely. Will be back in the sunshine low 387 00:20:15,920 --> 00:20:19,120 Speaker 1: eighties for Saturday. Right now seventy one in Central Park, 388 00:20:22,440 --> 00:20:26,960 Speaker 1: broadcasting live from the Bloomberg Interactive Broker Studio in New York. 389 00:20:27,080 --> 00:20:30,560 Speaker 1: Bloomberg e living free to Washington, d C, Bloomberg ninety 390 00:20:30,840 --> 00:20:34,359 Speaker 1: one to Boston, Bloomberg one oh six one to San Francisco, 391 00:20:34,480 --> 00:20:37,879 Speaker 1: Bloomberg nine sixteen to the country, Sirius XM chto one 392 00:20:38,000 --> 00:20:41,680 Speaker 1: nineteen and around the globe to Bloomberg Business and Bloomberg 393 00:20:41,800 --> 00:20:50,720 Speaker 1: Radio dot Com. This is Bloomberg day Break at six 394 00:20:50,800 --> 00:20:53,440 Speaker 1: thirty on Wall Street. Good morning, I'm Nathan Hagar and 395 00:20:53,520 --> 00:20:56,320 Speaker 1: I'm Karen Moscow. We are just about three hours away 396 00:20:56,359 --> 00:20:58,359 Speaker 1: from the open of US trading. It is time for 397 00:20:58,400 --> 00:21:00,159 Speaker 1: the five things you need to know to start your 398 00:21:00,240 --> 00:21:03,680 Speaker 1: day Bronto you by I v k R Investment advisers 399 00:21:03,720 --> 00:21:06,600 Speaker 1: switched to Interactive Brokers for lowest cost global trading and 400 00:21:06,640 --> 00:21:10,240 Speaker 1: turnkey custody solutions, no ticket charges and no conflicts of 401 00:21:10,280 --> 00:21:13,080 Speaker 1: your interests at ibkr dot com slash r i A. 402 00:21:13,760 --> 00:21:16,200 Speaker 1: They begin with breaking news out of the UK Boris 403 00:21:16,280 --> 00:21:20,000 Speaker 1: Johnson will resign as Prime Minister following numerous scandals and 404 00:21:20,080 --> 00:21:23,800 Speaker 1: intense pushback from his government. Bloomberry's Lizzie Burden has the 405 00:21:23,880 --> 00:21:27,840 Speaker 1: latest from ten Downing Street resignations had Mound's heads. More 406 00:21:27,920 --> 00:21:30,480 Speaker 1: than almost a third of the government quit their jobs 407 00:21:30,640 --> 00:21:34,639 Speaker 1: because if Johnson's integrity over the christ Centure affairs, hundling, 408 00:21:34,880 --> 00:21:37,320 Speaker 1: the costs on living crisis, the party Gate scandal, it 409 00:21:37,359 --> 00:21:41,680 Speaker 1: who had all been building and government was paralyzed. So Johnson, 410 00:21:41,760 --> 00:21:44,760 Speaker 1: it seems, can do it no longer. And Bloomberg's Lizzie 411 00:21:44,800 --> 00:21:48,120 Speaker 1: Burden says Johnson plans to stay on as caretaker leader 412 00:21:48,200 --> 00:21:51,560 Speaker 1: until October. We're awaiting a formal statement from Johnson. Will 413 00:21:51,560 --> 00:21:53,680 Speaker 1: bring that to you live when it happens right here 414 00:21:54,000 --> 00:21:56,399 Speaker 1: on Bloomberg Radio. By hearing the U s care and 415 00:21:56,440 --> 00:21:59,320 Speaker 1: the focus is on the economy as investors continue to 416 00:21:59,400 --> 00:22:01,960 Speaker 1: react to yes Today's Fed Minutes, and Bloomberg's John Tucker 417 00:22:02,119 --> 00:22:04,480 Speaker 1: joins US Live with mar John Nathan. The Mino show, 418 00:22:04,560 --> 00:22:07,720 Speaker 1: policymakers will probably deliver another big interest rate high later 419 00:22:07,840 --> 00:22:10,840 Speaker 1: this month. Investor's bet it will least seventy bases points 420 00:22:11,200 --> 00:22:14,920 Speaker 1: inflation was referenced ninety times in the Fed Minutes. Despite 421 00:22:14,960 --> 00:22:17,600 Speaker 1: all the worry about an economic downturn, there were no 422 00:22:17,720 --> 00:22:20,880 Speaker 1: mentions of recession. Maytime. The jobs report from the Labor 423 00:22:20,920 --> 00:22:23,720 Speaker 1: Department tomorrow has spent in the show employers and of 424 00:22:23,800 --> 00:22:26,800 Speaker 1: the fewest jobs in over a year. In June Live, 425 00:22:26,840 --> 00:22:29,520 Speaker 1: The New York Time, John Tucker, Bloomberg Radio, Right, John, 426 00:22:29,560 --> 00:22:31,720 Speaker 1: thank you, and now an economy of a different story. 427 00:22:31,840 --> 00:22:34,480 Speaker 1: Billionaires and high flyers and tech and media are meeting 428 00:22:34,520 --> 00:22:37,159 Speaker 1: at the Allen and Company conference in Sun Valley, Idaho. 429 00:22:37,480 --> 00:22:40,639 Speaker 1: We're told Tesla CEO Elon Moski is expected to speak 430 00:22:40,680 --> 00:22:43,760 Speaker 1: on the final day of the conferences Saturday. Sticking with tech, 431 00:22:43,800 --> 00:22:47,440 Speaker 1: Karin Bloomberg News has learned Apples planning an extreme sports watch. 432 00:22:47,600 --> 00:22:50,320 Speaker 1: Bloomberg's Rnita Young joins US Live with that, Good morning, Rania, 433 00:22:50,400 --> 00:22:53,600 Speaker 1: Good morning, Nathan. Bloomberg. Sources say Apple's new smart watch 434 00:22:53,680 --> 00:22:56,480 Speaker 1: will be the largest display it's released to date, with 435 00:22:56,640 --> 00:22:59,880 Speaker 1: a bigger battery and a rugged metal casing. It's geared 436 00:23:00,000 --> 00:23:04,440 Speaker 1: toward extreme sports athletes. Apple could use the largest green 437 00:23:04,520 --> 00:23:07,280 Speaker 1: area to show more fitness metrics or information on watch 438 00:23:07,359 --> 00:23:10,240 Speaker 1: faces at one time. The company plans to announce the 439 00:23:10,280 --> 00:23:12,800 Speaker 1: new watch, along with two other models later this year. 440 00:23:13,240 --> 00:23:15,400 Speaker 1: Live in New York, I'm gonna need a Young Bloomberg 441 00:23:15,440 --> 00:23:17,920 Speaker 1: day break, all right, ready to thank you, SMP futures 442 00:23:18,000 --> 00:23:20,879 Speaker 1: higher this morning up ten points down, futures have one 443 00:23:21,359 --> 00:23:24,359 Speaker 1: fourteen and as day futures of thirty eight, ten year 444 00:23:24,400 --> 00:23:27,760 Speaker 1: treasury down six thirty seconds you two point And that's 445 00:23:27,760 --> 00:23:29,280 Speaker 1: the five things that you need to know to start 446 00:23:29,320 --> 00:23:32,880 Speaker 1: your day. Bronty. You buy Interactive Brokers, your local headlines. 447 00:23:32,920 --> 00:23:39,560 Speaker 1: Straight ahead, Miss is Bloomberg. Thanks hearing sixty three on 448 00:23:39,600 --> 00:23:42,040 Speaker 1: Wall Street, seventy one degrees in Central Park. Got an 449 00:23:42,040 --> 00:23:45,119 Speaker 1: accident on westbound Belt Parkway at Sunrise Highway and Queen's 450 00:23:45,200 --> 00:23:47,959 Speaker 1: details coming up in traffic First Michael Barr with more 451 00:23:48,040 --> 00:23:49,960 Speaker 1: on what's going on in New York and around the world. 452 00:23:50,000 --> 00:23:52,760 Speaker 1: Good morning, Michael, Good morning, Nathan, New York Mayor Eric 453 00:23:52,840 --> 00:23:56,960 Speaker 1: Adams held a roundtable style discussion last nine involving community 454 00:23:57,000 --> 00:24:00,520 Speaker 1: groups and the NYPD. Mayor Adams up with a range 455 00:24:00,560 --> 00:24:03,520 Speaker 1: of issues from oversight of homeless shelters and the budget. 456 00:24:04,520 --> 00:24:08,119 Speaker 1: When you look at this budget and the amount of 457 00:24:08,200 --> 00:24:15,760 Speaker 1: money we allocated to unprecedented of resources go into children 458 00:24:15,880 --> 00:24:20,760 Speaker 1: and families, uh the increase dollar amount in the reduced 459 00:24:20,760 --> 00:24:24,920 Speaker 1: Fair Metro Card program never before numbers were reached. Mayor 460 00:24:25,000 --> 00:24:27,879 Speaker 1: Adams said the police budget remained flat. We can't live 461 00:24:27,960 --> 00:24:30,120 Speaker 1: in a city where young people pick up a gun 462 00:24:30,320 --> 00:24:34,000 Speaker 1: faster than they can get an iPad. Prosecutors in Illinois 463 00:24:34,040 --> 00:24:36,000 Speaker 1: say the twenty one year old man accused of killing 464 00:24:36,080 --> 00:24:38,520 Speaker 1: seven people in the fourth of July parade and Island 465 00:24:38,560 --> 00:24:42,000 Speaker 1: Park come faster the shooting. After being taken into custody, 466 00:24:42,400 --> 00:24:45,320 Speaker 1: the suspect made his first court appearance by video. The 467 00:24:45,400 --> 00:24:48,560 Speaker 1: attorney for the accused shooters mother and father says his 468 00:24:48,720 --> 00:24:53,320 Speaker 1: clients are hurting too. Steve Greenberg, representing Robert Cremo, the 469 00:24:53,440 --> 00:24:57,200 Speaker 1: third's parents spoke to w l S TV face charges. 470 00:24:57,240 --> 00:25:00,320 Speaker 1: They'll deal with charges when it happens. There can started 471 00:25:00,480 --> 00:25:03,760 Speaker 1: is helping the community to heal and helping everyone to 472 00:25:03,840 --> 00:25:06,600 Speaker 1: figure out how to keep this from happening me again. 473 00:25:06,880 --> 00:25:10,440 Speaker 1: Attorney Steve Greenberg. Illinois State Police say there will be 474 00:25:10,560 --> 00:25:14,159 Speaker 1: criminal investigations into the culpability of the father because he 475 00:25:14,280 --> 00:25:20,159 Speaker 1: sponsored the application for his son's twenty firearm permit. Friends 476 00:25:20,200 --> 00:25:22,680 Speaker 1: and fans of Britney Grinder held rally and Phoenix to 477 00:25:22,680 --> 00:25:25,000 Speaker 1: show support for the w n B. A star who 478 00:25:25,040 --> 00:25:27,840 Speaker 1: has been detained in Russia since February. Day two of 479 00:25:27,920 --> 00:25:31,200 Speaker 1: her drug trial near Moscow, is today. Former White House 480 00:25:31,240 --> 00:25:36,080 Speaker 1: Council under President Trump Pat Cipperoni is expected to testify 481 00:25:36,240 --> 00:25:40,280 Speaker 1: under subpoena before the House January six Committee Tomorrow. Cippoloni 482 00:25:40,400 --> 00:25:43,760 Speaker 1: will speak to the panel behind closed doors. President Joe 483 00:25:43,880 --> 00:25:46,400 Speaker 1: Biden says the final piece of the American Rescue Plan 484 00:25:46,480 --> 00:25:50,120 Speaker 1: would now save troubled pension plans, brings back to reports 485 00:25:50,520 --> 00:25:53,159 Speaker 1: this final piece will unsure full benefits, he says, for 486 00:25:53,240 --> 00:25:57,320 Speaker 1: approximately three million workers and retirees, saying it will protect 487 00:25:57,520 --> 00:26:01,159 Speaker 1: union pension plans. Today's acts, millions of workers will have 488 00:26:01,280 --> 00:26:06,000 Speaker 1: the dignified retirement they earned and they deserve. Biden saying 489 00:26:06,040 --> 00:26:08,680 Speaker 1: the US economy has to be built from the middle 490 00:26:08,800 --> 00:26:12,960 Speaker 1: class on out. In San Francisco, I'm at Baxter, Bloomberg 491 00:26:13,000 --> 00:26:15,040 Speaker 1: Gay Break, Global News twenty four hours a day on 492 00:26:15,200 --> 00:26:17,919 Speaker 1: air and on Bloomberg Quick Take, powered by more than 493 00:26:18,000 --> 00:26:21,040 Speaker 1: twenties seven hundred journalists analysts more than a hundred twenty countries. 494 00:26:21,400 --> 00:26:28,919 Speaker 1: Michael Bard, this is Bloomberg Nanther. Thank you, Michael. Almost 495 00:26:28,920 --> 00:26:31,200 Speaker 1: six thirty six on Wall Street, John Stashower has a 496 00:26:31,240 --> 00:26:34,520 Speaker 1: Bloomberg Sports Update. Thanks Dathan yankees On. Accustomed to losing 497 00:26:34,600 --> 00:26:36,320 Speaker 1: two games in a row, they weren't about to drop 498 00:26:36,359 --> 00:26:39,040 Speaker 1: a third strade of sixteen to nothing round in Pittsburgh. 499 00:26:39,040 --> 00:26:41,920 Speaker 1: They scored eleven over their last two at bat two. 500 00:26:42,000 --> 00:26:45,159 Speaker 1: Yankee hits six home roun Darren Judge hit his thirty 501 00:26:45,200 --> 00:26:47,000 Speaker 1: if it was a grand slam in the eighth inning 502 00:26:47,040 --> 00:26:49,440 Speaker 1: Aaron Hicks and a grand slam in the ninth. Yanks 503 00:26:49,480 --> 00:26:51,639 Speaker 1: have not played the Red Sott since the opening series 504 00:26:51,680 --> 00:26:53,560 Speaker 1: of the season that was in New York. Finally, their 505 00:26:53,600 --> 00:26:55,600 Speaker 1: first trip to Finlay Park tonight and start a four 506 00:26:55,640 --> 00:26:58,240 Speaker 1: game series. How Steinbrenner met the media and Pittsburg. He 507 00:26:58,280 --> 00:27:01,399 Speaker 1: says there will be no contract off with Judge until 508 00:27:01,440 --> 00:27:03,639 Speaker 1: after the season. Says he has no regrets about the 509 00:27:03,760 --> 00:27:07,280 Speaker 1: offer made that Judge rejected. Mets one in Cincinnati eight 510 00:27:07,359 --> 00:27:09,440 Speaker 1: to three. Tenantings, they tied the game of the ninth, 511 00:27:09,720 --> 00:27:12,000 Speaker 1: didn't take their first lead until the tenth branded Nemo 512 00:27:12,080 --> 00:27:14,280 Speaker 1: put it away with a free mont Homer Atlanta one, 513 00:27:14,320 --> 00:27:16,960 Speaker 1: again staying two and a half games behind. For After 514 00:27:17,000 --> 00:27:18,879 Speaker 1: You on the Dal admits his family was trying to 515 00:27:19,080 --> 00:27:21,520 Speaker 1: encourage him to quit his quarterfinal match at Wimbledon with 516 00:27:21,520 --> 00:27:24,720 Speaker 1: American Taylor Fritz. He was battling the dominant injury, but 517 00:27:25,040 --> 00:27:27,160 Speaker 1: that Dal stuck it out sure enough won the last 518 00:27:27,240 --> 00:27:34,000 Speaker 1: two sets. The fifth set or sidebreakfired. Uh in the 519 00:27:34,080 --> 00:27:38,280 Speaker 1: me that loved the match. It's not easy. I had 520 00:27:39,000 --> 00:27:45,000 Speaker 1: that idea for such a long time. But go hunt 521 00:27:47,240 --> 00:27:49,240 Speaker 1: I did a couple of times in my Dannis career. 522 00:27:49,400 --> 00:27:51,840 Speaker 1: Is something that I I hate to do it. He 523 00:27:51,920 --> 00:27:55,040 Speaker 1: hopes to recover for tomorrow's semifinal match with Joss Nick 524 00:27:55,119 --> 00:27:57,840 Speaker 1: Curious Women Semis Today. Cleveland Browns had already moved on 525 00:27:57,960 --> 00:28:00,080 Speaker 1: from Baker Mayfield when they brought into Shawn wat and 526 00:28:00,160 --> 00:28:03,120 Speaker 1: they traded Mayfield. It was the first overall pick ineen 527 00:28:03,160 --> 00:28:06,119 Speaker 1: to Carolina will apparently battle with Sam Donald. He was 528 00:28:06,200 --> 00:28:09,480 Speaker 1: the third pick in that same draft. Jos Dash Bloomberg Sports. 529 00:28:09,920 --> 00:28:12,080 Speaker 1: All right, John, thanks six thirty seven on Wall Street. 530 00:28:12,119 --> 00:28:13,399 Speaker 1: Time to take a look at stock, some of the 531 00:28:13,480 --> 00:28:16,080 Speaker 1: names moving in the pre market. Bloomberg Radio on TV. 532 00:28:16,240 --> 00:28:19,600 Speaker 1: Markets correspondent Kredy Gupta is with us this morning watching 533 00:28:19,760 --> 00:28:23,760 Speaker 1: big news moves in chip names create a Yeah, let's 534 00:28:23,760 --> 00:28:26,000 Speaker 1: start with the chip names here. This is pretty fascinating 535 00:28:26,000 --> 00:28:28,000 Speaker 1: because we know we've been talking about simply the news 536 00:28:28,359 --> 00:28:30,399 Speaker 1: that you do have geopolitics at play here in the 537 00:28:30,480 --> 00:28:32,320 Speaker 1: United States, for has trying to ban some of the 538 00:28:32,359 --> 00:28:35,359 Speaker 1: sales that the Netherlands, for example, has been making to China. 539 00:28:35,400 --> 00:28:39,640 Speaker 1: But at the same time, these chipmakers are really profitable. Nathan. Overnight, 540 00:28:39,680 --> 00:28:41,560 Speaker 1: we got some news from Samsung, as you'll know, the 541 00:28:41,680 --> 00:28:45,840 Speaker 1: Korean uh Mega company, if you will, actually a massive 542 00:28:45,960 --> 00:28:48,040 Speaker 1: part of the Korean stock exchange. A little fun fact 543 00:28:48,320 --> 00:28:50,920 Speaker 1: for everyone. Um, what's interesting here is they had a 544 00:28:51,000 --> 00:28:54,040 Speaker 1: twenty one percent jump in revenue. And this is really 545 00:28:54,080 --> 00:28:56,320 Speaker 1: important because it has a direct rate through into some 546 00:28:56,400 --> 00:28:58,400 Speaker 1: of the stock names. Chip Stock that you were seeing 547 00:28:58,400 --> 00:29:01,000 Speaker 1: this morning apply materials for Examp Bowl, which is one 548 00:29:01,000 --> 00:29:02,920 Speaker 1: of the competitors of a s m l up about 549 00:29:02,960 --> 00:29:05,680 Speaker 1: five tenths of one percent. Micron is The other big 550 00:29:05,720 --> 00:29:07,920 Speaker 1: one you want to watch MU is the taker. Remember 551 00:29:07,960 --> 00:29:10,400 Speaker 1: this is the largest chip maker in the United States, 552 00:29:10,760 --> 00:29:14,200 Speaker 1: up about two tenths of one percent this morning, so 553 00:29:14,360 --> 00:29:17,000 Speaker 1: keep an eye certainly on those names as well. You 554 00:29:17,040 --> 00:29:18,880 Speaker 1: also have to look at end Video because if Samsung 555 00:29:19,080 --> 00:29:21,720 Speaker 1: is the heavyweight in the Korean stock exchange, we know 556 00:29:21,840 --> 00:29:25,560 Speaker 1: in video is the heavyweight in the U S session. 557 00:29:25,760 --> 00:29:27,680 Speaker 1: I'm just pulling up this ticker right now. N b 558 00:29:27,880 --> 00:29:30,480 Speaker 1: d A up one and a half percent this morning. 559 00:29:30,520 --> 00:29:32,720 Speaker 1: So really, you are seeing some pretty strong moves in 560 00:29:32,720 --> 00:29:34,400 Speaker 1: the chip maker. I'm gonna throw one more at you 561 00:29:34,880 --> 00:29:38,920 Speaker 1: until I NTC up one percent. And I know you're 562 00:29:38,960 --> 00:29:41,960 Speaker 1: watching a name that used to be all right. I 563 00:29:42,040 --> 00:29:45,280 Speaker 1: think maybe it still is the poster child of the 564 00:29:45,360 --> 00:29:48,520 Speaker 1: meme stock frenzy that would be game Stop. It's making 565 00:29:48,560 --> 00:29:50,920 Speaker 1: a move as well. It is making up nine percent 566 00:29:51,160 --> 00:29:53,640 Speaker 1: this morning. I'm trading about a hundred and twenty dollars 567 00:29:53,680 --> 00:29:55,800 Speaker 1: of shares. This comes after a four for one stock split. 568 00:29:56,040 --> 00:29:58,240 Speaker 1: You know, it's interesting when people usually do the fourth 569 00:29:58,280 --> 00:30:01,360 Speaker 1: fourth stocumentary. Say, when companies do that, think of Amazon, 570 00:30:01,480 --> 00:30:05,040 Speaker 1: think of Apple. It's usually to tackle that retail base 571 00:30:05,160 --> 00:30:09,000 Speaker 1: or attract that retail base because the affordability is perhaps 572 00:30:09,120 --> 00:30:14,440 Speaker 1: not as big as in another UH price reign for example, 573 00:30:14,480 --> 00:30:17,080 Speaker 1: For example, no retail trader wants to pay a thousand 574 00:30:17,120 --> 00:30:19,240 Speaker 1: dollars for Amazon, at least that seemed to be the mentality. 575 00:30:19,400 --> 00:30:20,960 Speaker 1: So we do that for for one stocks, but it 576 00:30:21,040 --> 00:30:23,320 Speaker 1: makes those shares a little bit more accessible. Game stuff, 577 00:30:23,320 --> 00:30:25,640 Speaker 1: on the other hand, already has that retail base, So 578 00:30:25,720 --> 00:30:29,240 Speaker 1: it's important here that you actually see that. Nevertheless, still 579 00:30:29,360 --> 00:30:31,680 Speaker 1: up nine percent this morning, Nathan, I'll leave you with 580 00:30:31,720 --> 00:30:33,480 Speaker 1: one more story this morning, and that of course is 581 00:30:33,520 --> 00:30:35,880 Speaker 1: in the healthcare space. We don't talk about healthcare that often, 582 00:30:36,240 --> 00:30:40,160 Speaker 1: but maybe we should because deal news is absolutely there. 583 00:30:40,200 --> 00:30:42,800 Speaker 1: The Wall Street Journal reporting, citing people familiar with the matter, 584 00:30:42,880 --> 00:30:46,320 Speaker 1: that Mark is an advanced talks to buy Stiegen at 585 00:30:46,320 --> 00:30:48,720 Speaker 1: the company, a deal that values about tech firm at 586 00:30:48,760 --> 00:30:51,280 Speaker 1: more than two hundred dollars to share, the deal worth 587 00:30:51,320 --> 00:30:54,160 Speaker 1: about forty billion dollars. That stock moves off. That is 588 00:30:54,200 --> 00:30:57,240 Speaker 1: Mark m r K down one percent. In Cigen s 589 00:30:57,360 --> 00:31:00,280 Speaker 1: g E n it is up about five percent. Nathan 590 00:31:00,320 --> 00:31:03,160 Speaker 1: all Right, Bloomberg Radio TV Markets correspondent Creedy Group to 591 00:31:03,200 --> 00:31:07,080 Speaker 1: keid Ganaye and all the stocks throughout all the Indicas 592 00:31:07,160 --> 00:31:09,239 Speaker 1: this morning, and we take a look at stocks as 593 00:31:09,280 --> 00:31:12,760 Speaker 1: a whole. Futures moving higher, SMP futures up ten, DAL 594 00:31:12,880 --> 00:31:15,600 Speaker 1: futures up a hundred seventeen points, in NAZAC futures up 595 00:31:15,600 --> 00:31:23,200 Speaker 1: to thirty five. You're listening to Bloomberg Daybreak Bloomberg eleven 596 00:31:23,240 --> 00:31:25,760 Speaker 1: three oh Weather mostly cloudy if your afternoon showers possible 597 00:31:25,800 --> 00:31:28,080 Speaker 1: today going up to near eighty, It'll be most of 598 00:31:28,080 --> 00:31:31,280 Speaker 1: the cloudy, some more showers likely tomorrow, low eighties. Sunshine 599 00:31:31,280 --> 00:31:33,400 Speaker 1: returns for Saturday. Hey, just in time for the weekend. 600 00:31:33,520 --> 00:31:39,280 Speaker 1: Right now seventy one degrees. Markets, headlines and breaking news 601 00:31:39,440 --> 00:31:41,960 Speaker 1: twenty four hours a day at Bloomberg dot Com, the 602 00:31:42,080 --> 00:31:45,600 Speaker 1: Bloomberg Business at and at Bloomberg Quick Tape. He's a 603 00:31:45,640 --> 00:31:54,640 Speaker 1: Bloomberg Business Flash and I'm farre in Moscow, and futures 604 00:31:54,680 --> 00:31:56,440 Speaker 1: are gaining This morning, we got to the first Word 605 00:31:56,480 --> 00:31:59,400 Speaker 1: breaking news desk for today's morning call. Here's Bill Maloney, 606 00:31:59,480 --> 00:32:02,600 Speaker 1: Bill good more, Good morning, Karen. That's right. Us features 607 00:32:02,640 --> 00:32:04,360 Speaker 1: are in the green right now, A down features up 608 00:32:04,360 --> 00:32:06,640 Speaker 1: a hundred twenty three point s. Sup's game eleven one, 609 00:32:06,720 --> 00:32:09,800 Speaker 1: That is that features climb by forty one. The US 610 00:32:09,840 --> 00:32:12,400 Speaker 1: a ten year at two point nine five percent, Gold 611 00:32:12,480 --> 00:32:15,160 Speaker 1: is up three oil trading higher, and bitcoin is up 612 00:32:15,200 --> 00:32:18,080 Speaker 1: by point seven percent. Japan rose one and a half 613 00:32:18,120 --> 00:32:21,400 Speaker 1: percent overnight. Note that Samsung reported eight better than anticipated 614 00:32:21,440 --> 00:32:24,680 Speaker 1: twenty one percent jump in revenue, while your PA markets 615 00:32:24,720 --> 00:32:26,920 Speaker 1: are firmly in the green that by two percent. Games 616 00:32:27,080 --> 00:32:29,960 Speaker 1: in Italy back in the US on the Economic Frinday 617 00:32:30,080 --> 00:32:33,480 Speaker 1: thirty initial jobless claims after about US night Game Stop 618 00:32:33,600 --> 00:32:36,360 Speaker 1: reported a four for one stock splits and a deal. 619 00:32:36,400 --> 00:32:39,080 Speaker 1: News The Wall Street Journal report that Mark is nearing 620 00:32:39,160 --> 00:32:42,320 Speaker 1: that deal for CGM. In other news, bed Bath and 621 00:32:42,360 --> 00:32:46,560 Speaker 1: Beyond interim CEO and directors bought shares and wrapping things up. 622 00:32:46,600 --> 00:32:49,560 Speaker 1: Boston Beer was cut to sector perform at RBC. Coals 623 00:32:49,640 --> 00:32:53,120 Speaker 1: was cut to underperform over at Bank of America. Live 624 00:32:53,240 --> 00:32:55,400 Speaker 1: from the First Breaking News descon on Bill Maloney Cairn. 625 00:32:55,720 --> 00:32:58,120 Speaker 1: All right, Bill, thank you and to hear live breaking 626 00:32:58,200 --> 00:33:00,880 Speaker 1: news of your Bloomberg tips, squawk on your terminal, SCU 627 00:33:01,000 --> 00:33:03,280 Speaker 1: you a w K and s of Bloomberg Business Flash. 628 00:33:03,360 --> 00:33:05,320 Speaker 1: Now here's Michael Barr with more on what's going on 629 00:33:05,400 --> 00:33:08,959 Speaker 1: around the world. Michael Karen, thank you very much. As 630 00:33:09,040 --> 00:33:11,520 Speaker 1: we've been talking about all This morning, UK Prime Minister 631 00:33:11,600 --> 00:33:15,160 Speaker 1: Boris Johnson plans to resign, according to official familiar with 632 00:33:15,280 --> 00:33:19,040 Speaker 1: his thinking, following an unprecedented wave of resignations from his 633 00:33:19,160 --> 00:33:22,560 Speaker 1: government over the past few days. Treasury Chief not Hem 634 00:33:22,760 --> 00:33:25,360 Speaker 1: Zahawie told the Prime Minister to resign for the good 635 00:33:25,400 --> 00:33:28,400 Speaker 1: of the country. Of course, we're more on Johnson coming 636 00:33:28,480 --> 00:33:30,680 Speaker 1: up in a few moments and afford to ruling, the 637 00:33:30,760 --> 00:33:35,360 Speaker 1: Louisiana Supreme Court rejected a request to allow immediate enforcement 638 00:33:35,400 --> 00:33:37,960 Speaker 1: of state laws against most abortions, at least for now. 639 00:33:38,480 --> 00:33:41,960 Speaker 1: In baseball, the Yankees all over the Pirates sixteen nothing. 640 00:33:42,440 --> 00:33:45,560 Speaker 1: The Mets also won the Nationals, Orios and Giants winners. 641 00:33:45,560 --> 00:33:48,360 Speaker 1: The Red Sox lost. Along with the a's Global News 642 00:33:48,480 --> 00:33:51,600 Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake, 643 00:33:51,840 --> 00:33:54,960 Speaker 1: powered by more than twenty seven hundred journalists analysts more 644 00:33:54,960 --> 00:33:58,200 Speaker 1: than a hundred twenty countries. Michael Barren, this is Bloomberg. 645 00:33:58,280 --> 00:34:00,680 Speaker 1: Nathan all right, Michael, thank you. We are live from 646 00:34:00,720 --> 00:34:03,680 Speaker 1: the Bloomberg Interactive Brokers studios, where it is six forty 647 00:34:03,800 --> 00:34:06,320 Speaker 1: nine on Wall Street. Normally the time we check what's 648 00:34:06,360 --> 00:34:08,760 Speaker 1: going on in d C. But this morning, the political 649 00:34:08,880 --> 00:34:13,760 Speaker 1: story is in the UK capital where after hours, days 650 00:34:14,040 --> 00:34:18,160 Speaker 1: really of relentless pressure from his own government, Boris Johnson 651 00:34:18,280 --> 00:34:21,839 Speaker 1: is expected to announce later today he is resigning at 652 00:34:22,040 --> 00:34:25,359 Speaker 1: UK Prime Minister. We're joined once again this morning live 653 00:34:25,440 --> 00:34:28,959 Speaker 1: from outside Number ten Downing Street by Bloomberg's Lizzie Burden, 654 00:34:28,960 --> 00:34:31,520 Speaker 1: who has been covering the story from the get go. Lizzie, 655 00:34:31,880 --> 00:34:34,120 Speaker 1: what is the latest? What are we expecting from Johnson 656 00:34:34,239 --> 00:34:37,480 Speaker 1: later today? Well, Nathan, we're elbow to elbow on the 657 00:34:37,560 --> 00:34:40,320 Speaker 1: journalist side of the barrier today and the crowd of 658 00:34:40,360 --> 00:34:43,400 Speaker 1: gathering beyond the gates at Downing Street, we're expecting to 659 00:34:43,480 --> 00:34:46,279 Speaker 1: hear from the Prime Minister in fifteen minutes, possibly an 660 00:34:46,320 --> 00:34:49,400 Speaker 1: hour and fifteen minutes. But there's no podium outside the 661 00:34:49,680 --> 00:34:53,440 Speaker 1: black door yet. One of the UK broadcasters is reporting 662 00:34:53,520 --> 00:34:56,160 Speaker 1: that he has seen the Queen as a matter of courtesy, 663 00:34:56,640 --> 00:34:59,920 Speaker 1: and there are reports that there are concerned Boris way 664 00:35:00,200 --> 00:35:02,440 Speaker 1: stick to the speech that has been prepped for him 665 00:35:02,760 --> 00:35:07,560 Speaker 1: to read out there. The reports are that he plans 666 00:35:07,640 --> 00:35:11,000 Speaker 1: to resign books stay on as a caretaker leader until 667 00:35:11,120 --> 00:35:14,880 Speaker 1: the fall, though there's pushback already from some MP's even 668 00:35:15,120 --> 00:35:18,680 Speaker 1: on that, saying that Boris Johnson was the person, the reason, 669 00:35:18,880 --> 00:35:23,000 Speaker 1: the very reason for this unprepresented wave of resignations that 670 00:35:23,080 --> 00:35:26,640 Speaker 1: we've seen from the government. But despite that, Johnson starting 671 00:35:26,719 --> 00:35:31,719 Speaker 1: to make some interim appointments to his government. But I 672 00:35:31,800 --> 00:35:36,160 Speaker 1: want to point out quickly that if he leaves now today, 673 00:35:36,680 --> 00:35:39,680 Speaker 1: he'd have a short attenue than his predecessor, Theresa May. 674 00:35:40,040 --> 00:35:43,160 Speaker 1: But if he stays on as caretaker, he'd just beat her. 675 00:35:43,520 --> 00:35:46,960 Speaker 1: But either way, it's a really humiliating end to the 676 00:35:47,000 --> 00:35:51,000 Speaker 1: political career of someone who only three years ago one 677 00:35:51,000 --> 00:35:54,359 Speaker 1: of the biggest landslide since Margaret Thatcher. And it makes 678 00:35:54,360 --> 00:35:57,440 Speaker 1: you wonder, Lizzy, whether Boris Johnson really can carry on 679 00:35:57,640 --> 00:36:01,080 Speaker 1: for the next or three months, as we are reporting 680 00:36:01,320 --> 00:36:04,239 Speaker 1: that he does want to stay on at least as 681 00:36:04,360 --> 00:36:08,640 Speaker 1: a caretaker prime minister. How is the leadership vote going 682 00:36:08,760 --> 00:36:14,000 Speaker 1: to work here with Boris Johnson potentially playing for time. Yes, well, 683 00:36:14,040 --> 00:36:16,239 Speaker 1: it takes two stage and it takes several months for 684 00:36:16,320 --> 00:36:19,600 Speaker 1: the first stage is the shortlisting stage, where MP's put 685 00:36:19,640 --> 00:36:23,120 Speaker 1: their own names into the hats and over several rounds 686 00:36:23,640 --> 00:36:26,000 Speaker 1: they're whistled down to just two names to keep out 687 00:36:26,080 --> 00:36:29,200 Speaker 1: the extreme ones. And the second stage is a ballot 688 00:36:29,200 --> 00:36:31,840 Speaker 1: of the party membership on who's going to be picked. 689 00:36:32,520 --> 00:36:35,800 Speaker 1: That's the grassroots members of the Conservative Party. But the 690 00:36:35,960 --> 00:36:39,600 Speaker 1: time scales each stage are set out by the nineteen 691 00:36:39,719 --> 00:36:42,839 Speaker 1: twenty two Committee of Conservatives Backbenches, and if it takes 692 00:36:42,880 --> 00:36:46,320 Speaker 1: till October to find a new leader, that only needs 693 00:36:46,360 --> 00:36:50,200 Speaker 1: the replacements fourteen months to set a new agenda before 694 00:36:50,320 --> 00:36:54,120 Speaker 1: a general election. The former Chancellor Richie Sena is the 695 00:36:54,160 --> 00:36:57,800 Speaker 1: Bookie's favorite again. Another is the former Defense Secretary Penny 696 00:36:57,840 --> 00:37:00,799 Speaker 1: Morduin and his trust the Foreign set Treed making her 697 00:37:00,800 --> 00:37:05,879 Speaker 1: way back from Indonesia. But whoever takes on the key 698 00:37:06,000 --> 00:37:08,200 Speaker 1: to umber Ten at this moment is taking on a 699 00:37:08,280 --> 00:37:10,880 Speaker 1: Britain very much in crisis now. I want to get 700 00:37:10,920 --> 00:37:12,920 Speaker 1: back to the point you made earlier about the pressure 701 00:37:12,960 --> 00:37:16,160 Speaker 1: that Boris Johnson may potentially be feeling here to not 702 00:37:16,600 --> 00:37:20,800 Speaker 1: stay on as a caretaker prime minister. Watching headlines across 703 00:37:20,840 --> 00:37:24,480 Speaker 1: the Bloomberg terminal of the main opposition leader here Starmer 704 00:37:24,560 --> 00:37:27,719 Speaker 1: giving interviews saying that if Johnson does stay on, he's 705 00:37:27,719 --> 00:37:30,319 Speaker 1: going to press for another no confidence vote. We've been 706 00:37:30,360 --> 00:37:35,400 Speaker 1: talking just yesterday, Lizzie about the rank and file Conservatives 707 00:37:35,840 --> 00:37:38,880 Speaker 1: meeting next week to do just that is the no 708 00:37:39,040 --> 00:37:43,920 Speaker 1: confidence vote, another one potentially still in play here. I 709 00:37:44,000 --> 00:37:47,080 Speaker 1: mean if he doesn't resign today, then yes, because the 710 00:37:48,280 --> 00:37:50,879 Speaker 1: committees having it meant to have its elections next week 711 00:37:50,920 --> 00:37:54,400 Speaker 1: for leadership. They are expected to change their rules and 712 00:37:54,520 --> 00:37:56,800 Speaker 1: then they could have another confidence vote. This is what 713 00:37:56,960 --> 00:37:59,120 Speaker 1: we were talking about this morning before the reports that 714 00:37:59,160 --> 00:38:01,719 Speaker 1: Bishops movie to resign. But us I say there are 715 00:38:01,800 --> 00:38:04,560 Speaker 1: concerns that he doesn't stick to the script today. If 716 00:38:04,600 --> 00:38:07,280 Speaker 1: I could just read you what his former age Dominic 717 00:38:07,360 --> 00:38:10,440 Speaker 1: Cummings has tweeted, he put I know that guy, and 718 00:38:10,520 --> 00:38:13,400 Speaker 1: I'm telling you he doesn't think it's over. He's thinking 719 00:38:13,640 --> 00:38:17,680 Speaker 1: there's a war which happened in a war place for 720 00:38:17,840 --> 00:38:20,279 Speaker 1: time place the time. I can still get out of this. 721 00:38:20,480 --> 00:38:22,520 Speaker 1: I've got a mandate, the members love me to just 722 00:38:22,680 --> 00:38:25,799 Speaker 1: set me to September. If MP's leave him institutes there 723 00:38:25,880 --> 00:38:28,719 Speaker 1: will be carnage. And we have a red headline now 724 00:38:28,880 --> 00:38:31,759 Speaker 1: just crossing the Bloomberg terminal from an unnamed official saying 725 00:38:31,800 --> 00:38:35,359 Speaker 1: Boris Johnson is considering whether he can stay on as 726 00:38:35,440 --> 00:38:39,680 Speaker 1: a UK caretaker Prime minister. Gotta ask Lizzie. With all 727 00:38:39,760 --> 00:38:42,120 Speaker 1: the termoil that we've seen over the last several months 728 00:38:42,200 --> 00:38:46,920 Speaker 1: here with now many ministers trying to distance themselves from 729 00:38:46,960 --> 00:38:50,600 Speaker 1: Boris Johnson. Where is the Conservative Party at this point? 730 00:38:50,719 --> 00:38:54,200 Speaker 1: What kind of damage has been done to the leading 731 00:38:54,280 --> 00:38:58,440 Speaker 1: party in the UK. It's incredibly divided at this point 732 00:38:58,560 --> 00:39:02,680 Speaker 1: between those who quit, uh and those who stayed to 733 00:39:02,800 --> 00:39:06,520 Speaker 1: the very end. Uh that the ones who quit early 734 00:39:06,600 --> 00:39:10,879 Speaker 1: remembered this whole nobile affected resignation started with the Health 735 00:39:10,920 --> 00:39:15,560 Speaker 1: Secretary suject Javid Uh and the Chancellor Richie Sunak. And 736 00:39:15,600 --> 00:39:17,719 Speaker 1: then you've got those who have stayed live trust for 737 00:39:17,760 --> 00:39:20,799 Speaker 1: Foreign Secretary, Ben Wallace, the Defense Secretary. But you could 738 00:39:20,880 --> 00:39:25,320 Speaker 1: argue that on both sides they're tarnished by either hering 739 00:39:25,400 --> 00:39:28,200 Speaker 1: remained in proximity but to Boris Johnson, or being seen 740 00:39:28,320 --> 00:39:32,640 Speaker 1: to have betrayed him. Uh. But UH, it would be 741 00:39:32,680 --> 00:39:37,080 Speaker 1: interesting to see how the grassroots make their judgments on them. Economics, 742 00:39:37,440 --> 00:39:41,280 Speaker 1: their economic policies for future leaders could be key because 743 00:39:41,280 --> 00:39:42,640 Speaker 1: of course we're in the midst of the cost of 744 00:39:42,719 --> 00:39:45,719 Speaker 1: living crisis inflations second hits double digits in the ball 745 00:39:46,160 --> 00:39:49,840 Speaker 1: but it could also be advantageous to want to be 746 00:39:50,040 --> 00:39:54,680 Speaker 1: leaders to have military backgrounds. There's Ben Wallace, the Defense Secretary, 747 00:39:54,760 --> 00:39:59,160 Speaker 1: who's previously served. Tom Toognheart hasn't held a senior position, 748 00:39:59,280 --> 00:40:02,040 Speaker 1: but a figure in the Conservative costee, so that a 749 00:40:02,120 --> 00:40:07,080 Speaker 1: name to watch out for. The political volatility continues in 750 00:40:07,200 --> 00:40:11,360 Speaker 1: the UK as we await that announcement. Later on this morning, 751 00:40:11,480 --> 00:40:15,160 Speaker 1: Wall Street Time was UK Prime Minister Boris Johnson is 752 00:40:15,200 --> 00:40:19,040 Speaker 1: expected to announce he will resign as the leader of 753 00:40:19,560 --> 00:40:23,399 Speaker 1: the u K. Lizzie Burden, as always, thanks for all 754 00:40:23,520 --> 00:40:27,440 Speaker 1: the insights all the latest developments throughout the morning here 755 00:40:27,560 --> 00:40:31,320 Speaker 1: on Bloomberg Daybreak, Karen ry Nathan, thank you. At A 756 00:40:31,400 --> 00:40:33,920 Speaker 1: sixty five on Wall Street, we turned to news and 757 00:40:34,080 --> 00:40:36,719 Speaker 1: science and technology now with the Bloomberg and j I 758 00:40:36,840 --> 00:40:39,480 Speaker 1: T STEM Report. It is brought to you buy New 759 00:40:39,560 --> 00:40:42,880 Speaker 1: Jersey Institute of Technology and j I T welcomes its 760 00:40:42,960 --> 00:40:46,320 Speaker 1: ninth president, Tech Limb, a visionary leader committed to growing 761 00:40:46,440 --> 00:40:49,320 Speaker 1: nj I T S partnerships with industry to bolster student 762 00:40:49,360 --> 00:40:52,160 Speaker 1: opportunities and outcomes. Learn more at n j I T 763 00:40:52,320 --> 00:40:55,680 Speaker 1: dot E d U and here's les making news in science, Technology, 764 00:40:55,719 --> 00:40:58,960 Speaker 1: engineering and math. There are new concerns that Shanghai may 765 00:40:59,040 --> 00:41:02,000 Speaker 1: find itself back to get a lockdown. Shanna Financial Hub 766 00:41:02,120 --> 00:41:05,320 Speaker 1: reported that the number of coronavirus cases doubled in a 767 00:41:05,520 --> 00:41:08,960 Speaker 1: day to the highest level since May. Shanghai has already 768 00:41:09,040 --> 00:41:13,120 Speaker 1: increased mass testing. NASA says contact has been restored with 769 00:41:13,200 --> 00:41:16,040 Speaker 1: its thirty two million dollar spacecraft headed to the Moon 770 00:41:16,160 --> 00:41:19,920 Speaker 1: to test out a lop side of lunar orbit. Contact 771 00:41:20,040 --> 00:41:23,600 Speaker 1: was lost after one successful communication and a second partial 772 00:41:23,719 --> 00:41:26,800 Speaker 1: one on Monday after the spacecraft left Earth's orbit on 773 00:41:26,920 --> 00:41:29,919 Speaker 1: its way to the Moon. Pound satellite is the size 774 00:41:29,960 --> 00:41:32,360 Speaker 1: of a microwave oven and will be the first spacecraft 775 00:41:32,440 --> 00:41:35,200 Speaker 1: to try out this oval orbit, which is where NASA 776 00:41:35,280 --> 00:41:38,560 Speaker 1: wants to put its gateway outpost. And Bloomberg News has 777 00:41:38,600 --> 00:41:42,000 Speaker 1: learned Apple plans its largest smart watch display to date. 778 00:41:42,239 --> 00:41:45,560 Speaker 1: Sources say it'll have a bigger battery and a rugged 779 00:41:45,640 --> 00:41:48,399 Speaker 1: metal casing as part of the upcoming Apple Watch geared 780 00:41:48,440 --> 00:41:52,240 Speaker 1: toward extreme sports athletes. The larger display, which has planned 781 00:41:52,280 --> 00:41:54,760 Speaker 1: to be announced later this year with the other two models, 782 00:41:54,800 --> 00:41:57,480 Speaker 1: will have about seven percent more screen area than the 783 00:41:57,600 --> 00:42:01,320 Speaker 1: largest current Apple Watch. And that's the Bloomberg n j 784 00:42:01,520 --> 00:42:05,319 Speaker 1: I t STEM report. And again, futures this morning are 785 00:42:05,600 --> 00:42:08,240 Speaker 1: on the rise. S and P futures up nine points 786 00:42:08,360 --> 00:42:12,319 Speaker 1: down futures up one hundred Nasdag futures of thirty nine, 787 00:42:12,719 --> 00:42:15,240 Speaker 1: the decks in Germany's of one and a half percent, 788 00:42:15,360 --> 00:42:17,680 Speaker 1: in the foot Sea one hundred up one point two percent, 789 00:42:18,000 --> 00:42:20,759 Speaker 1: ten year treasury down four thirty seconds, held two point 790 00:42:20,880 --> 00:42:23,040 Speaker 1: nine four percent, and a yield on the two year 791 00:42:23,600 --> 00:42:28,120 Speaker 1: is at three point oh one percent. Bloomberg Surveillance is 792 00:42:28,360 --> 00:42:31,800 Speaker 1: straight ahead of Tom Keene and Jonathan Farrow will be 793 00:42:31,920 --> 00:42:34,719 Speaker 1: in Washington and they'll be watching all the developments out 794 00:42:34,760 --> 00:42:37,640 Speaker 1: of the UK. They're listening for that formal statement from 795 00:42:37,680 --> 00:42:41,759 Speaker 1: Boris Johnson about his resignation, and when that resignation is 796 00:42:41,840 --> 00:42:43,920 Speaker 1: formally announced, I'll bring that to you live right here 797 00:42:43,960 --> 00:42:46,800 Speaker 1: on Bloomberg Radio for Nathan Hagar on Karen Moscow. This 798 00:42:47,239 --> 00:42:47,840 Speaker 1: is Bloomberg