Speaker 1: Good morning.
Speaker 2: I'm Nathan Hager and I'm Karen Moscow. Here are the
Speaker 2: stories we're following today.
Speaker 3: We begin with the latest developments in Israel, as diplomatic
Speaker 3: efforts continue to try to avert a wider Middle East war.
Speaker 3: Israel's ambassador to the United Nations is calling on the
Speaker 3: head of the UN to resign. That demand came after
Speaker 3: Secretary General Antonio Guterra's speech at a Security Council meeting.
Speaker 4: I have condemned an equivocally the horrifying and unprecedented seven
Speaker 4: October acts of terror Bayhamas in Israel. Nothing can justify
Speaker 4: the deliberate killing, injuring, and kidnapping of civilians, or the
Speaker 4: launching of rockets against civilian targets. It is important to
Speaker 4: also recognize the attacks by Amas did not happen in
Speaker 4: a vacuum. The Palestinian people have been subjected to fifty
Speaker 4: six years of suffocating occupation.
Speaker 3: Antonio Guterrez's remarks led to a sharp rebuke from Israeli
Speaker 3: UN ambassador Galadoda on.
Speaker 5: The UN is failing a new mister, Secretary General, have
Speaker 5: lost all morality and impartiality when you say those terrible
Speaker 5: words that these heinous attacks did not happen in a vacuum.
Speaker 5: You are tolerating terrorism.
Speaker 3: And along with those remarks from Israel's UN ambassador, Israeli
Speaker 3: Foreign Minister Eli Cohen has now canceled a meeting with
Speaker 3: the UN Secretary General.
Speaker 2: Well Nathan Beck.
Speaker 6: Here.
Speaker 2: In the US House, Republicans wound up having to elect
Speaker 2: two nominees for House Speaker back to back yesterday, and
Speaker 2: Bloomberg's Amy Morris explains from Washington.
Speaker 7: Hours after he won the Republican Party nod for speaker.
Speaker 7: House majority whip Tom Emmer dropped his bid. While he
Speaker 7: did get a majority of votes from his fellow Republicans
Speaker 7: to become the nominee, he faced opposition from a faction
Speaker 7: that considers him to moderate, including former President Trump, who
Speaker 7: called him a rhino globalist.
Speaker 8: We have four or five, the warriors.
Speaker 7: The smart, and the lover Trump ally Mike Johnson of
Speaker 7: Louisiana is now the latest nominee for Speaker of the House.
Speaker 7: Republicans plan a vote on the House floor today at noon.
Speaker 7: The House cannot act on anything until a new speaker
Speaker 7: is elected. In Washington. I'm Amy Moore as Bloomberg Radio.
Speaker 3: Okay, meye, thanks another been a couple key developments in
Speaker 3: two of the legal cases against former President Trump. Bloomberg
Speaker 3: News has learned that Mark Meadows, former White House Chief
Speaker 3: of Staff, has been granted immunity in Special Council Jack
Speaker 3: Smith's federal election interference probe. Meadows told a grand jury
Speaker 3: that he repeatedly told the former president his election fraud
Speaker 3: claims were baseless. Word of meadows immunity came hours after
Speaker 3: one of Trump's former attorneys, Jenna Ellis, pleaded guilty in
Speaker 3: the election interference case in Georgia.
Speaker 2: I believe in and I value election integrity. If I
Speaker 2: knew then what I know now, I would have declined
Speaker 2: to represent Donald Trump.
Speaker 3: Jenna Ellis is the third attorney and fourth defendant overall
Speaker 3: to take a plea in the case. Under her deal,
Speaker 3: she has agreed to cooperate with Fulton County prosecutors and
Speaker 3: could testify against the former president.
Speaker 2: Well Nathan, we turned to the markets now and big
Speaker 2: tech and focus following earnings from two giants. To begin with,
Speaker 2: Microsoft and shares are out more than three and a
Speaker 2: half percent in early trading, the company posting its strung
Speaker 2: at sales increase in six quarters. We get the details
Speaker 2: from Bloomberg's Charlie Pellett.
Speaker 9: Microsoft was bolstered by recovering cloud computing growth amid demand
Speaker 9: for new AI products that are prompting corporate customers to
Speaker 9: shift back into spending mode. Revenue in the fiscal first
Speaker 9: quarter rows thirteen percent to fifty six point five billion dollars.
Speaker 9: CEO Sancha Nadella is revamping the company's entire product suite,
Speaker 9: including office, Windows, search, and security software, to add features
Speaker 9: based on open AI technology. In New York, Charlie Pellett Bloomberg.
Speaker 3: Radio, Okay, Charlie, thanks, And then there's Alphabet. Those shares
Speaker 3: are down six and a half percent. We get a
Speaker 3: recap of that earnings report from Bloomberg technology reporter at
Speaker 3: Ludlow in San Francisco.
Speaker 10: ALTHOUGHLPHA bet beat top and bottom line on all of
Speaker 10: its other divisions, there was strength in search, advertising stabilization
Speaker 10: and resilience in YouTube ads as well. There's still this
Speaker 10: concern that cloud is really central to Google's future growth,
Speaker 10: and in that area of cloud it's still is a
Speaker 10: distant third behind Amazon Aws and Microsoft Azure.
Speaker 3: Bloomberg's Ed Ludlow reports Alphabet's cloud unit sales had been
Speaker 3: affected by some customers cost cutting well, Nathan.
Speaker 2: Big Tech earnings continue this afternoon when Meta Platforms, the
Speaker 2: owner of Facebook and Instagram, reports we get a preview
Speaker 2: with Bloomberg's Tom Busby.
Speaker 11: Investors will be looking for a rebound in digital advertising,
Speaker 11: which may have seen a boost from its short video
Speaker 11: TikTok knockoff called Reels. Also any benefits from new products
Speaker 11: and services. After the social media giant's heavy investment in
Speaker 11: artificial intelligence, it's pushed into virtual reality technology, though expected
Speaker 11: to show even more losses. Look for adjusted earnings of
Speaker 11: three dollars sixty cents a share revenue of thirty three
Speaker 11: point five two billion dollars Tom Busby, Bloomberg Radio.
Speaker 3: Okay, Tom thanks Now. Earnings out of Europe. Shares of
Speaker 3: Deutsche banker up six and a half percent. That bank
Speaker 3: plans to accelerate payouts to shareholders after higher income from
Speaker 3: its corporate bank and deposit inflows offset weaker training in
Speaker 3: the third quarter. Chief financial officer James von Molka says
Speaker 3: Deutsch is trying to rein in costs.
Speaker 12: We're working sort of every day on cost reduction measures,
Speaker 12: which at the very least should offset the impact of
Speaker 12: inflation and also allow us to invest in the businesses
Speaker 12: with our own resources.
Speaker 3: Deutsche Bank CFO James von Molka says revenue rose about
Speaker 3: three percent from a year earlier.
Speaker 1: This is Bloomberg, all right, Nathan, Thanks.
Speaker 2: It is time now for a look at some of
Speaker 2: the other stories making news around the world. For that,
Speaker 2: we're joined by Bloomberg's Amy Morris.
Speaker 11: Amy.
Speaker 7: Good morning, Good morning Karen. Former President Donald Trump and
Speaker 7: his attorney Michael Cohen where both in a Manhattan courtroom
Speaker 7: for Trump's civil fraud trial. Cohen was Trump's longtime attorney
Speaker 7: before their relationship turned bitter. He testified against Donald Trump.
Speaker 9: This is not about Donald Trump versus Michael Cohen or
Speaker 9: Michael Cohen versus Donald Trump. This is about accountability.
Speaker 7: New York State Attorney General Letitia James is accusing Trump
Speaker 7: of overvaluing his properties to get better loan deals. Trump
Speaker 7: says the case is politically motivated. Forty one states and
Speaker 7: the District of Columbia have joined a lawsuit against Meta.
Speaker 7: The social media giant is accused of deliberately designing features
Speaker 7: for Facebook and Instagram that get kids and teenagers hooked.
Speaker 7: Doctor Delaney Rustin as a Stanford trained physician who examined
Speaker 7: teens and social media for her documentary Screenager's Trilogy.
Speaker 6: The focus is really on how Meta has designed its
Speaker 6: products to be as addicting as possible.
Speaker 7: The lawsuits are the result of a year's long, sprawling
Speaker 7: investigation and to claims that Meta contributes to mental health
Speaker 7: issues among young people. President Biden will be hosting Australia's
Speaker 7: Prime Minister Anthony Albazini on Wednesday today, with a variety
Speaker 7: of tech issues on the table. Bloomberg's Nancy Lions as
Speaker 7: a preview.
Speaker 6: White House National Security Spokesman John Kirby says some of
Speaker 6: the topics include artificial intelligence, clean energy, critical minerals, as
Speaker 6: well as a new space agreement. President's looking forward to
Speaker 6: the state visit.
Speaker 13: There is an awful lot on the plate with this
Speaker 13: important ally and key partner in the region.
Speaker 6: Kirby says. They'll also talk about the new Aucus Trilateral
Speaker 6: Security Pact between Australia, the United Kingdom and the US.
Speaker 6: Some have complained about the slow implementation of that pact.
Speaker 6: In Washington, Nancy Lions Bloomberg Radio.
Speaker 7: Category five Hurricane Otis has made landfall near Acapulco, Mexico
Speaker 7: early this morning. Maximum sustained winds are estimated to be
Speaker 7: one hundred and sixty five miles per hour. Forecaster is
Speaker 7: one of a nightmare scenario as the storm threatens catastrophic damage.
Speaker 7: Alkapulco is home to roughly eight hundred thousand people, and
Speaker 7: the World Series is set Texas Rangers versus the Arizona Diamondbacks.
Speaker 7: Global news twenty four hours a day and whenever you
Speaker 7: want it with Bloomberg News Now. I'm Amy Morris and
Speaker 7: this is Bloomberg Karen.
Speaker 2: All right, Amy, thank you well. We do bring you
Speaker 2: news throughout the day here on Bloomberg Radio Now. You
Speaker 2: can get the latest news on demand whenever you want it.
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Speaker 2: at the click of a button. Get informed on your schedule.
Speaker 2: You can listen and subscribe to Bloomberg News Now on
Speaker 2: the Bloomberg Business app, Bloomberg dot com plus Apple, Spotify,
Speaker 2: and anywhere else you get your podcasts. And it's time
Speaker 2: now for the Bloomberg Sports Update. For all the details,
Speaker 2: we bring in John stash Hour, John Karn.
Speaker 8: They've been playing the World Series for one hundred and
Speaker 8: twenty years This year's Fall Classic begins on Friday, and
Speaker 8: it's perhaps the most unlikeliest matchup in World Series history.
Speaker 8: It's the Texas Rangers against the Arizona Diamondbacks. No one
Speaker 8: expected this. The Diamondbacks only won eighty four games. They
Speaker 8: only got into the playoffs because MLB expanded the postseason
Speaker 8: a few years ago. They swept the Brewers, they swept
Speaker 8: the heavily favorite Dodgers, and they came back from a
Speaker 8: two to nothing deficit of the National League Championship Series.
Speaker 8: They won Game seven last night in Philadelphia, four to two.
Speaker 8: Their manager is Tory Leavello.
Speaker 13: When it finally happened and I saw the flaball go up,
Speaker 13: it was a pree four feeling. We're adrenaline junkies. You know,
Speaker 13: it's in and out of that of that moment, and
Speaker 13: when it hits a high and you feel it, it's
Speaker 13: a flush through your body and it gets no better.
Speaker 8: Corbyn Carroll, the rookie afield the three hits, two runs,
Speaker 8: two RBIs The Phillies only had eleven hits over the
Speaker 8: last two games of the series. They had no hits
Speaker 8: over the last four innings last night. Also from Baseball,
Speaker 8: Bob Melvin leaving the Pandres. He's the new manager of
Speaker 8: the Giants. He's a San Francisco native who managed in
Speaker 8: the Bay Area with Oakland for a decade. Opening Night
Speaker 8: in the end, Denver Nuggets won the championship last year.
Speaker 8: Opened up beating the Lakers one nineteen one oh seven
Speaker 8: triple double for Nakola Jokic. Phoenix's first game on a
Speaker 8: new coach, Frank Vogel the Suns one at Golden State
Speaker 8: one O eight to one oh four. Devin Booker stored
Speaker 8: thirty two. John stash Aller Bloomberg Sports.
Speaker 14: From coast to coast, from New York to San Francisco,
Speaker 14: Boston to Washington, DC, nationwide on Syrias Exam, the Bloomberg
Speaker 14: Business app in Bloomberg dot Com. This is Bloomberg Daybreak.
Speaker 3: Good morning. I'm Nathan Hager. It has now been three
Speaker 3: weeks since the House voted out Kevin McCarthy is its speaker. Today,
Speaker 3: Republicans are putting up their fourth nominee, helping a Trump ally,
Speaker 3: Mike Johnson of Louisiana, breaks the deadlock that has paralyzed Congress.
Speaker 3: That's as the former president faces new pressure in a
Speaker 3: couple of the half dozen legal cases against him, lots
Speaker 3: to get to this morning with Greg Valier, Chief US
Speaker 3: Policy stre just at AGF Investments, and Greg is with me.
Speaker 5: Now.
Speaker 3: I'm reminded of that old saying about trying the same
Speaker 3: thing over and over again and expecting a different result.
Speaker 3: What should we expect from this latest nominee on the
Speaker 3: House floor?
Speaker 15: Greg, Yeah, the definition of insanity, Nathan. They keep trying this.
Speaker 15: This fellow Mike Johnson, who nobody's ever heard of, has
Speaker 15: a chance. He's popular within the party. He could come close,
Speaker 15: but he can only afford to lose four or five votes,
Speaker 15: and he's an uphill battle. This could drag on, and
Speaker 15: it's a serious story. If you want to see aid
Speaker 15: for Israel, or aid for Ukraine or something for the
Speaker 15: US southern border, everything's frozen right now.
Speaker 3: What gives Mike Johnson the chance that Tom Emmer, Steve Scalise,
Speaker 3: Jim Jordan didn't have?
Speaker 15: Well in a word or two, Donald Trump, I think
Speaker 15: Trump would probably support Johnson. Trump very outspoken against Tom
Speaker 15: Emmer of Minnesota. In fact, Trump boasted yesterday that I
Speaker 15: killed that nomination. Well, it sounds like Trump has a
Speaker 15: veto power over House Republicans. But Trump is a supporter
Speaker 15: of Mike Johnson.
Speaker 3: Trump was also a supporter of Jim Jordan and has
Speaker 3: been failed. So why could Mike Johnson do better this time?
Speaker 15: I think he might have more a wider support. But
Speaker 15: I've got to tell you there's one crazy wild card
Speaker 15: that emerged late yesterday, and that would be to reinstate
Speaker 15: Kevin McCarthy as speaker and make Jim Jordan assistant speaker.
Speaker 15: I suppose crazier things have happened, but people were talking
Speaker 15: about that late yesterday.
Speaker 3: Before we get to that possibility, we do have to
Speaker 3: get through an expected floor vote for Mike Johnson. As
Speaker 3: you mentioned, he is a Trump ally, and we've also
Speaker 3: been reporting in the past that he was a part
Speaker 3: of the effort to return the twenty twenty election result.
Speaker 3: What would a speaker Mike Johnson mean for the House
Speaker 3: of Representatives.
Speaker 15: Well, it polarizes things, obviously, to have somebody who is
Speaker 15: a denier that Biden is actually a legitimate president. I
Speaker 15: think that doesn't help you continue to alienate the Democrats
Speaker 15: who are not interested in helping Republicans. But I suspect
Speaker 15: in the final analysis, involvement of some Democrats as a possibility.
Speaker 3: Okay, what about the possibility of government shut down? The
Speaker 3: aid requests that President Biden has been looking for, not
Speaker 3: just for foreign aid, but this report now from the
Speaker 3: Washington Post that he's preparing a fifty billion dollars domestic
Speaker 3: aid request to Congress.
Speaker 15: Yeah, there's a lot of stake here. First of all,
Speaker 15: aid to Israel and Ukraine, aid for the US border,
Speaker 15: a budget which has a deadline of November seventeenth, and
Speaker 15: now this news story that you cite the Washington Post.
Speaker 15: You're not going to be able to get any of
Speaker 15: this stuff done without a speaker.
Speaker 3: You mentioned that President Trump may have veto power in
Speaker 3: the House. He's facing new legal pressure now with this
Speaker 3: new development that Mark Meadows, the former White House chief
Speaker 3: of staff, has been granted immunity in the federal twenty
Speaker 3: twenty election case. This seems like a pretty significant development.
Speaker 7: Is it?
Speaker 2: It?
Speaker 15: Sure is, Nathan. The word of the week is flip flipping.
Speaker 15: Are we going to see even more former Trump aids
Speaker 15: flip and decide they're going to cooperate with investigators? We're
Speaker 15: getting to a point where there's going to be an
Speaker 15: avalanche of testimony against Trump. This has been a very
Speaker 15: difficult week for him.
Speaker 3: How significant could Mark Meadows testimony in particular be in
Speaker 3: a special Council trial over the twenty twenty election.
Speaker 15: It's huge. I mean, he knows where all the bodies
Speaker 15: are buried, he knows what happened. He also may continue
Speaker 15: to lead a domino effect where others cooperate, maybe even
Speaker 15: Rudy Giuliani. So I think that Trump is facing his
Speaker 15: greatest challenge and can't rule out Trump going to jail.
Speaker 3: Wow, that's a really significant statement just there. But of course,
Speaker 3: in our last thirty seconds, the former president has managed
Speaker 3: to turn all these legal battles to his political advantage.
Speaker 3: Can he continue to do so?
Speaker 15: He's a master at delaying and delaying and delaying. He
Speaker 15: could delay even further. But I do think this is
Speaker 15: an avalanche of testimony that is not going to help him.
Speaker 1: This is Bloomberg Daybreak Today, your morning brief on the
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