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Speaker 1: News when you want it with Bloomberg News Now, I'm

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Speaker 1: at Kleggy. President Joe Biden told deep pocketed donors in

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Speaker 1: New York's Hamptons on Saturday that he acknowledges worries about

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Speaker 1: his debate performance against Donald Trump, and he vowed to

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Speaker 1: stick with his reelection bid. I understand the concern about

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Speaker 1: the debate, Biden said at the ocean Front Hampton's estate

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Speaker 1: of hedge fund manager Barry Rosenstein and his wife Lezanne,

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Speaker 1: who hosted him at the fundraiser. I get it. I

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Speaker 1: didn't have a great night with about one hundred and

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Speaker 1: fifty people in attendance. Biden repeated that he wouldn't be

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Speaker 1: running if he didn't believe he could win, as he

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Speaker 1: seeks to rebuild momentum after the debate debacle on Thursday,

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Speaker 1: which has spread alarm among Democrats. New Jersey Governor Phil Murphy,

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Speaker 1: a Democrat, hosted a reception for Biden later's Saturday. Word

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Speaker 1: of a bankruptcy in the media business, Bloomberg's Denise Pellegrini reports.

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Speaker 2: Chicken Soup for the Sole Entertainment has filed for bankruptcy.

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Speaker 2: That's after failing to outrun a heavy debt load. The

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Speaker 2: seller of self help books, film and television content filing

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Speaker 2: for Chapter eleven protection in Delaware, listing assets and liabilities

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Speaker 2: at least five hundred million dollars each. The filing allows

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Speaker 2: Chicken Soup, originally named after its feel good books, to

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Speaker 2: keep operating well. It works on a plan to repay creditors.

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Speaker 2: Court paper show, Connecticut based Chicken Soup struggled to keep

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Speaker 2: up with financial obligations after buying DVD rental company Redbox

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Speaker 2: in twenty twenty two. The movie release business rebounded someone,

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Speaker 2: but the company's chairman says it needed additional cash to

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Speaker 2: buy and distribute new content, and lenders apparently vetoed a

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Speaker 2: new loan facility. Looks like Chicken Soup plans to use

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Speaker 2: its bankruptcy to sell off some business units and restructure others.

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Speaker 2: Denise Pelligrity Bloomberg Radio.

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Speaker 1: Baryl, the second tropical storm of the twenty twenty four

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Speaker 1: Atlantic hurricane season, has been upgraded to a hurricane and

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Speaker 1: is forecast to intensify quickly. According to the US National

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Speaker 1: Hurricane Center, Beryl picked up strength Saturday and is moving

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Speaker 1: toward the southeast curbe and it's expected to slam the

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Speaker 1: Windward Islands in the West Indies late Sunday as a

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Speaker 1: major hurricane. A hurricane warning is now in effect for

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Speaker 1: the island of Barbados, and watches are issued for Saint Lucia,

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Speaker 1: Saint Vincent and the Grenadine Islands and Grenada. A tropical

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Speaker 1: storm watch is an effect for martin Ache, Dominica and Tobago.

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Speaker 1: Venture capital firm Kleiner Perkins has raised more than two

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Speaker 1: billion dollars in new cash for two new funds. We

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Speaker 1: get the story from Bloomberg's Charlie Pellett.

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Speaker 3: The Menlo Park, California based firm has raised eight hundred

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Speaker 3: and twenty five million for a new fund targeting young

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Speaker 3: startups and one point two billion for a later stage fund.

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Speaker 3: Kleiner Perkins plans to invest in startups focusing on a

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Speaker 3: range of industries, including consumer facing firms, digital healthcare companies, fintech,

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Speaker 3: and hard tech, meaning ventures working on physical products like

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Speaker 3: semiconductors or robots. In each category, the firm will particularly

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Speaker 3: look for how the startups are using AI. In New York,

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Speaker 3: I'm Charlie Pellet's Bloomberg Radio.

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Speaker 1: The IRS is getting better with its taxpayer services, but

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Speaker 1: inspectors say it is not solving identity theft cases fast enough.

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Speaker 1: We get to tales from Bloomberg's Amy Morris.

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Speaker 4: An independent watchdog within the IRS, says taxpayer services have

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Speaker 4: vastly improved, but the agency is still too slow to

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Speaker 4: resolve identity theft cases, and National Taxpayer Advocate Aaron Collins

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Speaker 4: says those delays are quote unconscionable. Colin says that overall,

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Speaker 4: the twenty twenty four filing season went smoothly, though IRS

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Speaker 4: delays and resolving identity theft victim assistance cases are getting worse.

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Speaker 4: Earlier this year it took about nineteen months. Now it

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Speaker 4: takes twenty two months to resolve. In Washington, Amy Morris,

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Speaker 4: Bloomberg Radio.

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Speaker 1: And that's news when you want it with Bloomberg News.

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Speaker 1: Now I made Kleggy and this is Bloomberg