WEBVTT - Trump's Historic UK Visit; Highly Anticipated Fed Decision

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News.

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<v Speaker 2>Good morning.

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<v Speaker 3>I'm Nathan Hager and I'm Karen Moscow. Here are the

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<v Speaker 3>stories we're following today.

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<v Speaker 4>Karen, we begin overseas and President Donald Trump's state visit

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<v Speaker 4>to the UK. King Charles is preparing to host the

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<v Speaker 4>President at Windsor Castle. Let's go to London and get

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<v Speaker 4>the very latest with Bloomberg day Break. Europe Banker Caroline Hepger.

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<v Speaker 4>Good morning, Caroline, Good morning Nathan.

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<v Speaker 5>They say Windsor castles the ultimate right, says President Trump,

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<v Speaker 5>while the British government is certainly hoping.

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<v Speaker 6>So.

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<v Speaker 5>The President and First Lady have had a night at

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<v Speaker 5>the eleventh century castle. They'll be greeted this morning by

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<v Speaker 5>the Prince and Princess of Wales, then the King and

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<v Speaker 5>Queen with a carriage ride, a guard of honor, glittering

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<v Speaker 5>white tie banquet, all private, away from any protests. Photos

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<v Speaker 5>of Trump and Jeffrey Epstein beamed onto Windsor Castle having

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<v Speaker 5>been swiftly removed with fours made now. The UK has

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<v Speaker 5>already seen some significant pledges, more than forty two billion

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<v Speaker 5>dollars for tech and AI investments into Britain for Microsoft,

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<v Speaker 5>OpenAI and others who are also on this state visit,

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<v Speaker 5>but hopes of lowering steel tariffs have been put on

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<v Speaker 5>the back burner, And yet Nathan quiet optimism. Given that

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<v Speaker 5>President Trump is the most angli phile US leader in decades,

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<v Speaker 5>Britain has a golden opportunity to make its case to

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<v Speaker 5>the most powerful political and tech leaders in the world.

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<v Speaker 4>So while we wait for more on that potential opportunity, Caroline,

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<v Speaker 4>what are some potential pitfalls though?

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<v Speaker 2>For Prime Minister care starmer Well.

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<v Speaker 5>President Trump goes to the prime minister's country as state

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<v Speaker 5>checkers on Thursday. There'll be bagpipes there, a bilateral meeting

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<v Speaker 5>and the Chancellor Rachel Reeves is hosting a business reception too,

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<v Speaker 5>So the real peril is actually at a joint press

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<v Speaker 5>conference that will be held. Will difficult questions emerge about

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<v Speaker 5>the UK's former ambassador to the US, Peter Mandlson, being

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<v Speaker 5>fired over his relationship with Jeffrey Epstein, the UK's poised

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<v Speaker 5>to maybe recognize a Palestinian state. Will there be repeated

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<v Speaker 5>criticism about the state of free speech hit in the

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<v Speaker 5>UK and Kirstarma also won stronger measures from the US

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<v Speaker 5>side against Russia over Ukraine. Does a big win on

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<v Speaker 5>Capex for UK data centers really deliver growth in jobs.

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<v Speaker 5>There could be many many questions that come up in

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<v Speaker 5>that press conference.

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<v Speaker 4>All right, Bloomberg day Break here Baker, Caroline Hepger, thank

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<v Speaker 4>you for this. We'll be checking back with Caroline throughout

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<v Speaker 4>the morning.

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<v Speaker 3>Nathan, a Spirit Airlines passenger jet got a little too

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<v Speaker 3>close for comfort with Air Force one carrying President Trump

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<v Speaker 3>to London. It happened over Long Island when an air

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<v Speaker 3>traffic controller noticed their altitudes were similar and flight paths converging.

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<v Speaker 3>The controller trying to alert the Spirit pilots to change

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<v Speaker 3>their course, and after they did not respond, he repeated

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<v Speaker 3>the message, raising his voice and commanding them to turn

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<v Speaker 3>twenty degrees right immediately.

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<v Speaker 4>Well, later this month, Karen, President Trump is going to

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<v Speaker 4>be meeting with another world leader, Israeli Prime Minister Benjamin

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<v Speaker 4>netan Yahoo plans to visit the White House September twenty ninth. Netanyah,

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<v Speaker 4>who says he's had a number of conversations with the

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<v Speaker 4>President after Israel's strike on Hamas leaders in Doha kat

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<v Speaker 4>He says the conversations were quote very good.

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<v Speaker 3>Well, Nathan, we turned down to one of the most

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<v Speaker 3>highly anticipated and controversial FED decisions in years. The new

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<v Speaker 3>FED board now includes White House Economic Advisor Stephen Myron,

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<v Speaker 3>and it still has FED Governor Lisa Cook, who President

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<v Speaker 3>Trump is trying to fire. We get more in the

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<v Speaker 3>decision from Bloomberg's Michael McKee.

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<v Speaker 6>There's no question this is going to be a different

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<v Speaker 6>kind of FED meeting. There's a lot of storylines here,

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<v Speaker 6>of course, the biggest is Stephen Myron joining and the

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<v Speaker 6>Governor Lisa Cook being able to continue with her role

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<v Speaker 6>at the FED. Now, the question is who's it's next

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<v Speaker 6>to whom in that meeting and what will it be

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<v Speaker 6>like in terms of the discussions, which is actually a

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<v Speaker 6>real question because Myron has not participated in the run

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<v Speaker 6>up to this, hasn't had the briefings, doesn't know what

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<v Speaker 6>other FED officials are going to be saying, and they

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<v Speaker 6>go around the table and they all give a presentation

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<v Speaker 6>about the economy. So it isn't clear exactly how much

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<v Speaker 6>he's going to contribute, other than one expects he will

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<v Speaker 6>vote for the rate.

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<v Speaker 3>Cut and Bloomberg's Michael McKee will be part of our

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<v Speaker 3>Bloomberg surveillance. The FED decides special this afternoon at one

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<v Speaker 3>thirty pm Wall Street Time. You can watch and listen

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<v Speaker 3>on Bloomberg Radio, Bloomberg Television, and the Bloomberg Podcast channel

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<v Speaker 3>on YouTube.

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<v Speaker 4>Karen, Let's get to the latest down the Charlie Kirk

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<v Speaker 4>murder case. The suspect and the conservative activists shooting death

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<v Speaker 4>has made his first court appearance. Twenty two year old

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<v Speaker 4>Tyler Robinson is facing a first degree aggravated murder charge

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<v Speaker 4>in Utah County Attorney Jeff Gray says he will seek

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<v Speaker 4>the death penalty.

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<v Speaker 7>As county attorney, I am charged with bringing justice to

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<v Speaker 7>those who offend our laws. I am charged with bringing

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<v Speaker 7>justice for those who harm, for those who are harmed.

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<v Speaker 7>I am charged with bringing justice for Charlie Kirk.

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<v Speaker 4>Utah County Attorney Jeff Gray says DNA matching Robinson was

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<v Speaker 4>found on the rifle that investigators think was used in

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<v Speaker 4>the shooting. He also says Robinson confessed in text messages

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<v Speaker 4>with his roommate whom he was dating. The judge set

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<v Speaker 4>the next hearing for the end of this month, when

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<v Speaker 4>Robinson could be asked to enter a plea.

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<v Speaker 3>Well, let's turn to the nation's capital now. Nathan and

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<v Speaker 3>FBI Director Cash Pttel clashed with Democratic senators during the

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<v Speaker 3>first of two oversight hearings this week, and Bloomberg's Amy

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<v Speaker 3>Morris has more from Washington.

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<v Speaker 8>Patel faced criticism from Senate Democrats over his handling of

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<v Speaker 8>the investigation into the death of conservative activist Charlie Kirk

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<v Speaker 8>and Patel's leadership. Three former senior FBI officials are suing

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<v Speaker 8>over their firing, which they called retribution. Patel responded when

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<v Speaker 8>Democratic Senator Corey Booker said he didn't think he'd be

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<v Speaker 8>in that job much longer.

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<v Speaker 2>That rant does not bring this country together. My god,

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<v Speaker 2>my god, if you want to talk about biding this country,

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<v Speaker 2>it is. I follow you on your social media posts.

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<v Speaker 2>Is come part? Your time over? Committee, Sir. You don't

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<v Speaker 2>tell me my time is over? You know how tell

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<v Speaker 2>me what my time is next.

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<v Speaker 8>Patel will testify before the House Judiciary Committee in Washington.

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<v Speaker 8>Amy Morris Bloomberg Radio.

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<v Speaker 2>Amy Thanks.

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<v Speaker 4>The White House says TikTok can continue operating in the

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<v Speaker 4>US until December sixteenth. The latest extension comes as Bloomberg

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<v Speaker 4>News has learned TikTok's US operations will be bought by

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<v Speaker 4>a consortium of US companies under a deal to be

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<v Speaker 4>discussed between President Trump and China's Shi Jinping. The framework

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<v Speaker 4>agreement involves a US based version of the app backed

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<v Speaker 4>by firms including Oracle, private equity firms Silver Lake and

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<v Speaker 4>Venture Capital Company andres and US Trade Representative Jamison Greer

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<v Speaker 4>says the deal represents a step forward in the ongoing saga.

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<v Speaker 9>The TikTok saga has gone on for a long time.

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<v Speaker 9>Toward the end of his first term, President Trump set

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<v Speaker 9>about to solve it. Over the course of the Biden administration,

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<v Speaker 9>they grappled with this issue but could not solve it.

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<v Speaker 9>But as of yesterday, we believe that President Trump has

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<v Speaker 9>in fact resolved this issue.

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<v Speaker 4>US Trade rep. Jamison grousepoke on Fox Business. Under an

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<v Speaker 4>initial agreement, a Chinese owned Byte Dance's stake in TikTok

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<v Speaker 4>would fall below twenty percent to satisfy a US law

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<v Speaker 4>that requires the Beijing based company to divest. President Trump

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<v Speaker 4>is set to speak with President she on the deal

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<v Speaker 4>this Friday.

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<v Speaker 3>Well Ifan cheers of Nvidia down seven tenths of uppercent

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<v Speaker 3>this morning. The Financial Times is reporting China's internet regulator

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<v Speaker 3>has told the country's tech companies to stop buying all

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<v Speaker 3>of in Video's AI chips and terminate their existing orders.

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<v Speaker 3>The move comes as Beijing steps up efforts to boost

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<v Speaker 3>its homegrown semiconductor industry and compete with the US.

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<v Speaker 4>And another tech giants seeing a slowdown in China. Karen

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<v Speaker 4>Apples smartphone sales fell six percent there in the weeks

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<v Speaker 4>leading up to the iPhone seventeen line. That's a deeper

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<v Speaker 4>slump than usual before a major product release. But Apple

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<v Speaker 4>wasn't the only one. China's overall smartphone market shrank two

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<v Speaker 4>percent in July and August. Companies with bigger market share

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<v Speaker 4>like shall Me, Vivo and Honor Device also saw declines.

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<v Speaker 3>And Nathan take a platform. Stub Hub goes public today.

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<v Speaker 3>It prices initial public offering at the midpoint of a

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<v Speaker 3>marketed range to raise eight hundred million dollars. The company

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<v Speaker 3>shares will trade under the symbol STUB or stub. The

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<v Speaker 3>USIPO market is on a hot streak, with about four

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<v Speaker 3>point seven billion dollar raised since the Labor Day holiday time.

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<v Speaker 3>Now for look at some of the other stories making

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<v Speaker 3>news in New York and around the world, and for

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<v Speaker 3>that we're joined by Bluebers.

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<v Speaker 2>Michael Barr. Michael, good morning, Good morning, Karen.

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<v Speaker 10>Terrorism and first degree murdered charges were dropped against Luigi

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<v Speaker 10>Mangione after a judge decided the charges lacked sufficient evidence.

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<v Speaker 10>Prosecutors accused Mangioni of fatally shooting United Healthcare CEO Brian

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<v Speaker 10>Thompson last December and Manhattan as an act of terror.

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<v Speaker 10>The twenty seven year old still faces second degree murder

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<v Speaker 10>charges and has pleaded not guilty. Former CDC director doctor

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<v Speaker 10>Susan Manaris will appear before the Senate Health Committee today.

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<v Speaker 10>Manaris is expected to testify about her firing and her

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<v Speaker 10>month working for Health and Human Services Secretary Robert F.

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<v Speaker 10>Kennedy Junior, one of its members. Senator Susan Collins, spoke

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<v Speaker 10>about doctor Manares when she appeared before the World Medical

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<v Speaker 10>Innovation Forum in Boston.

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<v Speaker 5>Susan put it best to me.

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<v Speaker 2>She said that she just she was asked.

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<v Speaker 1>To fire all these people and refused to do it.

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<v Speaker 10>Senator Collins, a main Republican, lauded Manaris' work and says

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<v Speaker 10>she looks forward to going into further detail on her

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<v Speaker 10>firing In New York City. We'll find out later this

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<v Speaker 10>morning about the future of a casino in Times Square.

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<v Speaker 10>A final vote is expected on whether the casino proposal

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<v Speaker 10>moves forward. There have been demonstrations on both sides for

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<v Speaker 10>and against the Caesars Palace casino that is currently the

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<v Speaker 10>home of the Men's Gough Theater. The Food and Drug

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<v Speaker 10>Administration says it is conducting an independent physician investigation into

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<v Speaker 10>the twenty five reports of child doubts after receiving COVID vaccines.

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<v Speaker 10>FDA Commissioner doctor Martin mckarey says self reported underified cases

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<v Speaker 10>are part of a database that are available to the

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<v Speaker 10>public but need to be investigated.

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<v Speaker 11>Some people say, you shouldn't be looking at this, You

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<v Speaker 11>should not be sharing data like this with the public

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<v Speaker 11>because it may lead some to question the vaccine. We

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<v Speaker 11>believe in full transparency people can make their own decision.

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<v Speaker 10>FDA Commissioner, Doctor Martin mckarey. Global News twenty four hours

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<v Speaker 10>a day and whenever you want it with Bloomberg News Now.

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<v Speaker 10>I'm Michael Barrn. This is Bloomberg Karen.

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<v Speaker 3>Thanks Michael. Time now for our Bloomberg Sports update, and

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<v Speaker 3>for that we bring in John stash Hour.

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<v Speaker 2>Thanks Dren.

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<v Speaker 12>The Seattle Mariners made it ten wins in a row.

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<v Speaker 12>It was twelve to five at Kansas City is Dominic.

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<v Speaker 12>Canzone hit three home runs and Cal Rowley hit two.

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<v Speaker 12>He has fifty six home runs on the season. It's

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<v Speaker 12>the most ever for a switch hitter, passing Mickey Mantle.

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<v Speaker 12>The NFL says it's okay with Tom Brady, who is

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<v Speaker 12>a partial owner of the Las Vegas Raiders, being in

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<v Speaker 12>the coaching box during a game. Many pointed to a

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<v Speaker 12>conflict of interest, and Brady is also an announcer for Fox.

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<v Speaker 2>That's your Bloomberg Sports Update. Stay with us.

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<v Speaker 3>More from Bloomberg day Break coming up after this.

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<v Speaker 1>Coast to coast on Bloomberg Radio nationwide on Serious Exam

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<v Speaker 1>and around the world on Bloomberg dot Com and the

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<v Speaker 1>Bloomberg Business opp This is Bloomberg Daybreak.

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<v Speaker 2>Good morning.

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<v Speaker 4>I'm Nathan Hager, and they're pulling out all the stops

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<v Speaker 4>of Windsor Castle for President Donald Trump's second state visit

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<v Speaker 4>to the UK, getting a royal welcome from King Charles

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<v Speaker 4>the Third. Looking to talk trade. As he told reporters

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<v Speaker 4>before he left the White House, they want.

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<v Speaker 11>To see if they can rebind a great deal a

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<v Speaker 11>little bit.

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<v Speaker 12>We've made a deal and it's a great deal, and.

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<v Speaker 2>I'm into helping them. Our country is doing very well.

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<v Speaker 4>That was President Trump ahead of his arrival in the

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<v Speaker 4>UK and joining us this morning from Windsor Castle is

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<v Speaker 4>Bloomberg's Lizzie Burden.

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<v Speaker 2>Lizzie, thanks for being with us.

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<v Speaker 4>Set the scene for us, because no one really sets

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<v Speaker 4>a scene quite like the royals.

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<v Speaker 2>Good morning, hey, Nathan.

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<v Speaker 13>You're absolutely right. Pump and pageantry is what we do

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<v Speaker 13>best here in the UK. And of course this is

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<v Speaker 13>a second unprecedented second state visit for Donald Trump.

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<v Speaker 14>You might remember his first one at Buckingham Palace.

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<v Speaker 13>They're all sat round for a state banquet and everyone's

0:12:36.400 --> 0:12:39.280
<v Speaker 13>in their finery. But only as they sat down did

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<v Speaker 13>a tabloid newspaper break that he was critical of then

0:12:43.000 --> 0:12:46.760
<v Speaker 13>Prime Minister Theresa May a deeply embarrassing interview in digestion

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<v Speaker 13>for all. So there are lots of potential pitfulls again,

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<v Speaker 13>this time maybe on Palestine, maybe on Jeffrey Epstein. We've

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<v Speaker 13>just lost our UK ambassador to Washington over his links

0:12:58.720 --> 0:13:02.520
<v Speaker 13>to Jeffrey Epstein. On the agenda today, see the President,

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<v Speaker 13>the First Lady, Welcome to Windsor by the King and Queen.

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<v Speaker 13>They'll have a carriage procession through the grounds of the

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<v Speaker 13>estate with the Prince and Princess of Wales. Apparently the

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<v Speaker 13>President's taken a shine to Prince William. He said he

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<v Speaker 13>was very handsome when he met him in Paris last year,

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<v Speaker 13>and so the Palace is keen to deploy him once again.

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<v Speaker 14>Then they're going to have a private.

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<v Speaker 13>Lunch, they're going to lay a wreath at the tomb

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<v Speaker 13>of the late Queen Elizabeth, and then we're going to

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<v Speaker 13>have a flypass of UK and US F thirty five

0:13:32.920 --> 0:13:35.760
<v Speaker 13>jets along with the Red Arrows, so pulling out all

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<v Speaker 13>the stops. The hope, of course, is that all of

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<v Speaker 13>this soft power translates into hard cash for the UK.

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<v Speaker 4>Yeah, in terms of potentially softening the President to maybe

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<v Speaker 4>make some concessions when it comes to trade. You've got

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<v Speaker 4>to think that for Prime Minister Cure Starmer, this trip

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<v Speaker 4>is going to be crucial.

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<v Speaker 14>It absolutely is, and it couldn't come at a worse

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<v Speaker 14>time for the British Prime Minister.

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<v Speaker 13>It has to be said, his party is floundering in

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<v Speaker 13>the polls behind notably Donald Trump's friend Nigel Farrar is

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<v Speaker 13>the leader of Reform UK. He has his colleagues talking

0:14:07.200 --> 0:14:09.800
<v Speaker 13>about replacing him, but they just don't know who to

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<v Speaker 13>replace him with. Just this morning we had the UK

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<v Speaker 13>inflation numbers the highest again in a year and a half,

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<v Speaker 13>on a week of a Bank of England decision. And

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<v Speaker 13>really it's all coming to a head for kir Starmer

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<v Speaker 13>because just this past two weeks he's lost three from

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<v Speaker 13>his government, including as I say, Peter Mandelson, the UK

0:14:28.560 --> 0:14:32.320
<v Speaker 13>ambassador to Washington, but also the Deputy Prime Minister, also

0:14:32.400 --> 0:14:36.600
<v Speaker 13>his chief of strategy, and so it's going to give

0:14:36.640 --> 0:14:39.920
<v Speaker 13>Donald Trump leverage over Starmer. He will be very aware

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<v Speaker 13>of the weakness of the UK Prime Minister.

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<v Speaker 14>Right now, just.

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<v Speaker 4>Thirty seconds left, Lizzie. But we've heard about all the

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<v Speaker 4>tech deals that have been made in the UK leading

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<v Speaker 4>up to this.

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<v Speaker 2>What more is the UK hoping to get.

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<v Speaker 13>Yeh ten billion dollars of economic agreements expected in addition

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<v Speaker 13>to that US UK trade deal already, perhaps we could

0:14:58.920 --> 0:15:01.640
<v Speaker 13>get more on AARI. We've already had the likes of

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<v Speaker 13>Google pledging money.

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<v Speaker 14>They're billions of pounds.

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<v Speaker 13>But look, when it comes to Steeal tariffs, it doesn't

0:15:08.000 --> 0:15:09.920
<v Speaker 13>look like Starma is going to get any better than

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<v Speaker 13>the twenty five percent already agreed, and it doesn't look

0:15:13.200 --> 0:15:16.320
<v Speaker 13>like there's much more to come on Scotch Whiskey Tariffs either.

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<v Speaker 3>This is Bloomberg Daybreak, your morning podcast on the stories

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<v Speaker 2>I'm Karen Moscow and I'm Nathan Hager.

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<v Speaker 4>Join us again tomorrow morning for all the news you

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<v Speaker 4>need to start your day right here on Bloomberg Daybreak