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Speaker 2: News when you want it With Bloomberg News Now, I'm
Speaker 2: Amy Morris. New York City Mayor Eric Adams is indicted
Speaker 2: on bribery and fraud charges after a federal corruption investigation.
Speaker 2: Adams is accused of accepting illegal campaign contributions for his
Speaker 2: mayoral campaign from foreign nationals, and he's accused of defrauding
Speaker 2: the City of New York, using illegal contributions to defraud
Speaker 2: the city's matching funds program up to ten million dollars.
Speaker 2: He's also accused of accepting luxury travel, hotel stays, and
Speaker 2: other benefits from foreign nationals. You, as attorney for the
Speaker 2: Southern District of New York, Damian Williams.
Speaker 3: The mayor had a duty to disclose these gifts on
Speaker 3: his annual public disclosure forms so that the public could
Speaker 3: see who.
Speaker 4: Was giving him what.
Speaker 3: But as we allege, year after year after year, he
Speaker 3: kept the public in the dark.
Speaker 2: Adams is defiant and says he will not step down.
Speaker 5: My day to day will not change.
Speaker 6: I will continue to do the job for eight point
Speaker 6: three million New Yorkers that I was elected to do.
Speaker 2: Federal prosecutors alleged that for nearly a decade, Adams accepted
Speaker 2: improper benefits from wealthy foreign business people seeking to gain
Speaker 2: influence over him. Hurricane Helene is now a Category two storm,
Speaker 2: but could grow into a powerful Category three or even
Speaker 2: a four by the time it makes landfall around Florida's
Speaker 2: Big Bend. Rescue teams from across the country are staging
Speaker 2: in the region to be ready to go when they're needed.
Speaker 2: This task force member is from Pennsylvania.
Speaker 7: There could be a swift water rescue environment due to
Speaker 7: flash flooding, an urban flooding. There could be other rescue
Speaker 7: environments just from accumulative water where we got to put
Speaker 7: boats in a rescue people.
Speaker 2: Helene is gaining power as toward Florida, where it is
Speaker 2: expected to make landfall tonight or early tomorrow morning. Whether
Speaker 2: and hurricane specialists say this storm is going to cause
Speaker 2: catastrophic flooding across several states from extremely heavy rain. There
Speaker 2: will be no ceasefire. That from Israel's foreign minister after
Speaker 2: the US and France proposed a three week pause in
Speaker 2: fighting with Hesbolah, Lebanon's economy minister tells Bloomberg's Jumani Bersecci
Speaker 2: has Belah is starting to show flexibility on a truce.
Speaker 4: They have suffered a lot of blows. The three thousand
Speaker 4: operatives were critically injured in those explosions last week. They've
Speaker 4: lost senior commanders, and the air strikes had begun at
Speaker 4: the beginning of this week. And so from their perspectives,
Speaker 4: would this be them showing that they're conceding.
Speaker 2: Bloomberg's Jumana Barsecci reporting from our European headquarters in London.
Speaker 2: Wells Fargo has entered a key new phase of its
Speaker 2: almost seven year effort to escape a federal reserve cap
Speaker 2: on its assets, punishment that has become the most feared
Speaker 2: in banking. We get more with Bloomberg shanale Bassic.
Speaker 6: Behind the scenes. Wells Fargo has submitted a third party
Speaker 6: review of risk and control overhauls for analysis and sign
Speaker 6: offf However, sources have warned that it could still see
Speaker 6: the cap stretching at least into next year while the
Speaker 6: FED reviews this submission. Of course, it has been a
Speaker 6: long and costly road for Wells Fargo to get to
Speaker 6: this point.
Speaker 2: Bloomberg shanale bassic the cap limits the bank to its
Speaker 2: size at the end of twenty seventeen about one point
Speaker 2: nine to five trillion dollars in assets, curbing the company's
Speaker 2: potential to boost profits. Wells Fargo shares are now four
Speaker 2: point three percent higher. We got a lot of economic
Speaker 2: data this morning, and the US continues to show signs
Speaker 2: of growth. Second quarter GDP was revised higher to three percent.
Speaker 2: Durable goods orders barely changed last month, which was better
Speaker 2: than economists expected. Weekly jobless claims fell to a four
Speaker 2: month low of two hundred and eighteen thousand. We get
Speaker 2: perspective with Bloomberg's Jonathan Farrell.
Speaker 8: So at a time when we're really worried about the
Speaker 8: next step in the economy and the evolution of the
Speaker 8: American economy being layoffs, people getting fired and claims rising,
Speaker 8: we just don't see it in the dates of right now,
Speaker 8: we do not see it at all.
Speaker 2: Bloomberg's John Farroh, And we check the markets for you
Speaker 2: all day long here at Bloomberg. The S and P
Speaker 2: five hundred of a quarter percent, NASDAC up three tenths
Speaker 2: of a percent, the Dow up a half percent, and
Speaker 2: the Russell two thousand up eight tenths of a percent.
Speaker 2: The tenure yield at three point eight percent, the two
Speaker 2: year treasury yield at three point six percent. Boston FED
Speaker 2: President Susan Collins and FED Governor Adriana Kugler participated in
Speaker 2: a fireside chat focusing on the intersections between banks supervision
Speaker 2: and financial inclusion. Coogler says access to credit is critical
Speaker 2: for the Fed's employment mandate.
Speaker 5: But on employment side of the mandate, it is very
Speaker 5: critical to have access to credit because access to credit
Speaker 5: is usually needed to pursue an education, which opens stores
Speaker 5: for employment. It is critical to have access to housing
Speaker 5: and to autos and cars, which are what he called
Speaker 5: toots jobs as well.
Speaker 2: Fed Governor Adriana Coogler and that's news when you want
Speaker 2: it with Bloomberg News. Now, I am Morrison, this is
Speaker 2: Bloomberg