1 00:00:02,520 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:10,039 --> 00:00:12,479 Speaker 2: This is the Bloomberg Day Bake You podcast. Good morning, 3 00:00:12,520 --> 00:00:15,520 Speaker 2: It's Thursday, the eleventh of September. I'm Caroline hepkea in 4 00:00:15,560 --> 00:00:16,439 Speaker 2: London and. 5 00:00:16,320 --> 00:00:19,920 Speaker 3: I'm Stephen Caroline Brussels. Coming up today. Police in Utah 6 00:00:20,000 --> 00:00:23,080 Speaker 3: are searching for the killer of Charlie Kirk, a conservative 7 00:00:23,120 --> 00:00:26,360 Speaker 3: activist and close ally of US President Donald Trump. 8 00:00:26,960 --> 00:00:29,920 Speaker 2: I Think the World of View, Bloomberg obtains revealing and 9 00:00:30,040 --> 00:00:34,680 Speaker 2: embarrassing emails between Britain's ambassador to the US, Peter Mandelson 10 00:00:34,800 --> 00:00:36,320 Speaker 2: and Jeffrey Epstein. 11 00:00:36,400 --> 00:00:40,080 Speaker 3: Plus seeking supporters. Poland calls on NATO allies to bolster 12 00:00:40,159 --> 00:00:43,920 Speaker 3: its air defenses after Russian drones were shot down over 13 00:00:43,960 --> 00:00:44,760 Speaker 3: its territory. 14 00:00:45,280 --> 00:00:47,800 Speaker 2: Let's start with a roundup of our top stories. A 15 00:00:47,920 --> 00:00:50,320 Speaker 2: search is underway in the United States for the killer 16 00:00:50,360 --> 00:00:53,720 Speaker 2: of conservative activist Charlie Kirk, who was shot dead at 17 00:00:53,760 --> 00:00:57,280 Speaker 2: a university in Utah. Kirk, a close ally of the 18 00:00:57,400 --> 00:01:00,560 Speaker 2: US President, was speaking at an outdoor event when police 19 00:01:00,560 --> 00:01:03,280 Speaker 2: say a single shot was fired from a nearby building. 20 00:01:03,680 --> 00:01:06,559 Speaker 2: Donald Trump reacted to the killing on social media. 21 00:01:07,280 --> 00:01:11,120 Speaker 4: For years, those on the radical left have compared wonderful 22 00:01:11,120 --> 00:01:15,840 Speaker 4: Americans like Charlie to Nazis and the world's worst mass 23 00:01:15,959 --> 00:01:20,840 Speaker 4: murderers and criminals. This kind of rhetoric is directly responsible 24 00:01:20,880 --> 00:01:24,400 Speaker 4: for the terrorism that we're seeing in our country today, 25 00:01:24,959 --> 00:01:27,560 Speaker 4: and it must stop right now. 26 00:01:28,400 --> 00:01:31,520 Speaker 2: US President Donald Trump. There Kirk was one of America's 27 00:01:31,600 --> 00:01:36,560 Speaker 2: most prominent conservative figures, leading the organization Turning Point to USA. 28 00:01:36,840 --> 00:01:40,600 Speaker 2: His popularity had flourished using a brash approach to politics 29 00:01:40,840 --> 00:01:44,120 Speaker 2: and as an online champion of Trump and his MAGA movement. 30 00:01:44,600 --> 00:01:46,800 Speaker 2: The shooting is the latest, though in a spate of 31 00:01:46,920 --> 00:01:51,120 Speaker 2: US political violence. Donald Trump faced two assassination attempts on 32 00:01:51,200 --> 00:01:55,240 Speaker 2: the campaign trail, and in June, a gunman killed Minnesota 33 00:01:55,400 --> 00:01:59,160 Speaker 2: Legislator Melissa Hortman and her husband at their home. 34 00:02:00,240 --> 00:02:03,720 Speaker 3: News has obtained more than one hundred previously unreported emails 35 00:02:03,720 --> 00:02:07,040 Speaker 3: between Jeffrey Epstein and Peter Mandelsson between two thousand and 36 00:02:07,120 --> 00:02:10,680 Speaker 3: five and twenty ten. The interactions between the UK's current 37 00:02:10,720 --> 00:02:14,160 Speaker 3: ambassador to the US and the late disgraced financier cast 38 00:02:14,240 --> 00:02:17,040 Speaker 3: new light on their relationship, showing that it was deeper 39 00:02:17,040 --> 00:02:20,359 Speaker 3: than previously known. Bloomberg's Chris pet Has more. 40 00:02:20,320 --> 00:02:23,560 Speaker 5: The day before Jeffrey Epstein reported to a Florida jail 41 00:02:23,639 --> 00:02:26,800 Speaker 5: in June two thousand and eight to begin serving time 42 00:02:26,880 --> 00:02:30,080 Speaker 5: for soliciting sex from a minor. He received an outraged 43 00:02:30,160 --> 00:02:33,600 Speaker 5: message from a friend, anguished at the injustice of it all. 44 00:02:33,880 --> 00:02:36,160 Speaker 5: I think the world of view and I feel hopeless 45 00:02:36,200 --> 00:02:39,600 Speaker 5: and furious about what has happened, Peter Mandelson wrote in 46 00:02:39,639 --> 00:02:43,440 Speaker 5: an email obtained by Bloomberg News. I still can barely 47 00:02:43,520 --> 00:02:47,520 Speaker 5: understand it. It just could not happen in Britain. At 48 00:02:47,560 --> 00:02:51,560 Speaker 5: the time, Mandelsson was European Commissioner for Trade. Today he 49 00:02:51,680 --> 00:02:55,359 Speaker 5: is the UK's ambassador in Washington. The new revelations come 50 00:02:55,400 --> 00:02:58,560 Speaker 5: as Mandelsson already finds himself at the center of a 51 00:02:58,639 --> 00:03:02,760 Speaker 5: furora over his links to the serial sex abuser. After 52 00:03:02,800 --> 00:03:05,399 Speaker 5: the publication this week of a two thousand and three 53 00:03:05,480 --> 00:03:08,519 Speaker 5: birthday book in which he penned a ten page tribute 54 00:03:08,600 --> 00:03:13,519 Speaker 5: calling Epstein his best pal, Bloomberg sent Mandelson a detailed 55 00:03:13,639 --> 00:03:18,240 Speaker 5: letter outlining the emails on Monday this week. Mandelson acknowledged 56 00:03:18,240 --> 00:03:22,640 Speaker 5: receipt of Bloombo's questions, but has not responded to them. However, 57 00:03:22,880 --> 00:03:25,240 Speaker 5: in an interview with the UK newspaper The Sun on 58 00:03:25,280 --> 00:03:29,800 Speaker 5: Wednesday morning, he expressed remorse at his relationship with Epstein. 59 00:03:30,360 --> 00:03:33,720 Speaker 6: I regret very much. Indeed, I felt it like a 60 00:03:35,320 --> 00:03:40,160 Speaker 6: like an albatross around my neck. Since his death in 61 00:03:40,200 --> 00:03:43,200 Speaker 6: two thousand and eighteen or nineteen when it was I 62 00:03:44,080 --> 00:03:48,560 Speaker 6: feel a tremendous sense of regret, not only that I 63 00:03:48,680 --> 00:03:52,200 Speaker 6: met him in the first place, but I continued the association. 64 00:03:53,040 --> 00:03:56,480 Speaker 5: Despite those comments on the Harry Cole Saves the West podcast, 65 00:03:57,120 --> 00:04:00,800 Speaker 5: the UK's Prime Minister Keir Starmer now faces growing calls 66 00:04:00,800 --> 00:04:05,680 Speaker 5: to sack Mandelson as ambassador to the US. Conservative opposition 67 00:04:05,760 --> 00:04:10,120 Speaker 5: leader Kemmy Baiden Not called the situation a disgrace in London. 68 00:04:10,320 --> 00:04:12,200 Speaker 5: Chris Pitt Bloomberg Radio. 69 00:04:12,720 --> 00:04:16,880 Speaker 2: In other news, Bloomberg understands Poland has asked NATO allies 70 00:04:16,920 --> 00:04:20,320 Speaker 2: for more air defense systems after shooting down Russian drones 71 00:04:20,760 --> 00:04:24,880 Speaker 2: that crossed its border yesterday. WARSAW has invoked Article four 72 00:04:24,920 --> 00:04:28,680 Speaker 2: of the alliance's treaty, triggering consultations that could lead to 73 00:04:28,760 --> 00:04:34,039 Speaker 2: coordinated action. Polish Foreign Minister Vardislaw Sikowski says they need 74 00:04:34,080 --> 00:04:37,720 Speaker 2: patriot missiles and new technology to protect their skies. 75 00:04:38,800 --> 00:04:40,000 Speaker 1: We need to. 76 00:04:40,000 --> 00:04:44,840 Speaker 7: Create what ursula forman lane called today in the European 77 00:04:44,880 --> 00:04:48,719 Speaker 7: Parliament at her annual State of the Union address a 78 00:04:48,880 --> 00:04:53,120 Speaker 7: drone war. This is a threat not only to Poland, 79 00:04:53,560 --> 00:04:56,960 Speaker 7: This new technology of the mass use of drones is 80 00:04:56,960 --> 00:04:59,640 Speaker 7: a threat to all of the EU and nature and 81 00:04:59,720 --> 00:05:00,240 Speaker 7: mini to. 82 00:05:00,200 --> 00:05:00,960 Speaker 8: Face it together. 83 00:05:01,600 --> 00:05:04,440 Speaker 2: The Polish Foreign Minnesota was speaking as the country's Prime Minister, 84 00:05:04,480 --> 00:05:07,600 Speaker 2: Donald Tusk said on social media that Poland has received 85 00:05:07,640 --> 00:05:12,120 Speaker 2: proposals of concrete support from allies. Polish and Dutch jets 86 00:05:12,120 --> 00:05:14,920 Speaker 2: were scrambled in the early hours to shoot down Russian 87 00:05:15,000 --> 00:05:19,280 Speaker 2: drones yesterday, nineteen A space violations were registered. 88 00:05:19,839 --> 00:05:22,480 Speaker 3: Mexico was planning to impose tariffs of up to fifty 89 00:05:22,520 --> 00:05:25,640 Speaker 3: percent on cars and other products made by China and 90 00:05:25,720 --> 00:05:29,680 Speaker 3: several Asian exporters. The levees would apply to thousands of categories, 91 00:05:29,680 --> 00:05:32,880 Speaker 3: from auto parts to steal to furniture, and would affect 92 00:05:33,120 --> 00:05:36,400 Speaker 3: most effect countries with which Mexico has no trade deal. 93 00:05:36,760 --> 00:05:41,080 Speaker 3: The Mexican Economy Minister Marcelo Erbrard described the proposed duties 94 00:05:41,120 --> 00:05:44,839 Speaker 3: as part of efforts to protect jobs and industry. It's 95 00:05:44,839 --> 00:05:48,760 Speaker 3: a move that would more closely align Mexico with US protectionism. 96 00:05:49,000 --> 00:05:52,320 Speaker 3: As President Claudia Scheinbeun prepares for talks over at North 97 00:05:52,360 --> 00:05:53,919 Speaker 3: America's free trade deal. 98 00:05:54,360 --> 00:05:57,520 Speaker 2: The CEO of City Group, Jane Fraser, says she's surprised 99 00:05:57,560 --> 00:06:00,800 Speaker 2: by the resilience of the US economy mid a constantly 100 00:06:00,839 --> 00:06:05,120 Speaker 2: evolving macroeconomic landscape. Speaking to Bloomberg, she said businesses now 101 00:06:05,160 --> 00:06:09,000 Speaker 2: have more clarity on tax policy, on tariffs and deregulation. 102 00:06:10,440 --> 00:06:15,040 Speaker 1: One is always surprised by the upside and the resiliency 103 00:06:15,279 --> 00:06:16,040 Speaker 1: of the US. 104 00:06:16,400 --> 00:06:18,240 Speaker 8: So let's look at what's gone on. 105 00:06:18,440 --> 00:06:20,960 Speaker 1: Is you've got to look at the collective impact of 106 00:06:21,000 --> 00:06:25,000 Speaker 1: the tax policy, what's been happening with tariffs and indeed 107 00:06:25,000 --> 00:06:28,600 Speaker 1: the increasing deregulation that we're seeing, and they work together 108 00:06:28,680 --> 00:06:31,919 Speaker 1: as a package. I think the most important piece for 109 00:06:31,960 --> 00:06:33,360 Speaker 1: a corporate clarity. 110 00:06:33,520 --> 00:06:36,600 Speaker 8: We hate uncertainty, weight clarity. 111 00:06:37,120 --> 00:06:40,640 Speaker 1: And our client base now is really starting to act 112 00:06:40,800 --> 00:06:41,920 Speaker 1: with more confidence. 113 00:06:42,400 --> 00:06:46,599 Speaker 2: Jane Fraser's position, though, contasts with that of UBS's CEO 114 00:06:46,680 --> 00:06:49,880 Speaker 2: sgy Or Motty. He's told Bloomberg the impact of global 115 00:06:49,880 --> 00:06:52,520 Speaker 2: tariffs on the US economy remains unclear. 116 00:06:53,160 --> 00:06:56,200 Speaker 6: The true show on taris will be seen on consumers 117 00:06:56,600 --> 00:06:57,200 Speaker 6: in the US. 118 00:06:57,240 --> 00:07:01,040 Speaker 5: We will need to see exactly if there is any inflationary. 119 00:07:02,160 --> 00:07:04,159 Speaker 8: Aspect of tarift and is. 120 00:07:04,160 --> 00:07:06,360 Speaker 3: That still unclear at this point I think is unclear. 121 00:07:06,560 --> 00:07:08,960 Speaker 2: So the comments from two of the world's most prominent 122 00:07:09,040 --> 00:07:12,760 Speaker 2: bank CEOs comes ahead of today's USCPI data, which is 123 00:07:12,800 --> 00:07:16,080 Speaker 2: expected to show a zero point three percent month or 124 00:07:16,080 --> 00:07:19,679 Speaker 2: month price rise. Investors have fully priced in a quarter 125 00:07:19,720 --> 00:07:23,240 Speaker 2: point rate cards at the Federal Reserves meeting next week. 126 00:07:23,360 --> 00:07:26,120 Speaker 3: The European Central Bank, meanwhile, has expected to leave interest 127 00:07:26,200 --> 00:07:30,280 Speaker 3: rates unchanged that its decision today, as economists believe policymakers 128 00:07:30,320 --> 00:07:34,800 Speaker 3: are finished with cuts for now. Bloomberg's Micalcobala reports all. 129 00:07:34,640 --> 00:07:37,840 Speaker 9: Fifty nine economists in Bloomberg survey predict the ECB will 130 00:07:37,880 --> 00:07:41,560 Speaker 9: hold its deposit rate at two percent today. They're also 131 00:07:41,600 --> 00:07:45,200 Speaker 9: expecting that fresh quarterly projections from the central Bank should 132 00:07:45,240 --> 00:07:48,480 Speaker 9: calm fears that inflation could sink below the banks two 133 00:07:48,480 --> 00:07:52,400 Speaker 9: percent target for too long. Most ECB officials are said 134 00:07:52,440 --> 00:07:56,160 Speaker 9: to be happy with the current monetary policy stands. Prices 135 00:07:56,200 --> 00:07:58,720 Speaker 9: are deemed to meet the target, and the Euro Area 136 00:07:58,760 --> 00:08:03,440 Speaker 9: economy appears Brazil even as Donald Trump's taris takehold and 137 00:08:03,480 --> 00:08:06,680 Speaker 9: France wrestles with political turmoil in Brussels. 138 00:08:06,840 --> 00:08:09,160 Speaker 8: Michael Kobola Bloomberg Radio. 139 00:08:09,240 --> 00:08:11,640 Speaker 2: Those are top storys for you this morning. Looking at 140 00:08:11,640 --> 00:08:13,920 Speaker 2: the market, so eupins dogs are up about a quarter 141 00:08:13,960 --> 00:08:15,840 Speaker 2: of one percent, fifty one hundred up by half of 142 00:08:15,880 --> 00:08:20,000 Speaker 2: one percent, and still futures for the US market open 143 00:08:20,200 --> 00:08:23,280 Speaker 2: s and P five hundred futures are barely about a 144 00:08:23,320 --> 00:08:25,280 Speaker 2: tenth of one percent. So it does seem that markets 145 00:08:25,320 --> 00:08:28,280 Speaker 2: are holding their breath awaiting the USCPI data. 146 00:08:28,600 --> 00:08:30,720 Speaker 8: Also the ECB decision. 147 00:08:30,760 --> 00:08:33,240 Speaker 2: I mean, maybe not this month, the most important month 148 00:08:33,280 --> 00:08:37,640 Speaker 2: perhaps December, when we're also expecting we are expecting a 149 00:08:37,720 --> 00:08:40,640 Speaker 2: rate cart markets, that is from the ECB. In terms 150 00:08:40,640 --> 00:08:42,880 Speaker 2: of the euro, we trade at one sixteen ninety one, 151 00:08:42,960 --> 00:08:45,520 Speaker 2: so slightly weaker for the euro against the stronger dollar. 152 00:08:45,880 --> 00:08:48,880 Speaker 2: Gold is down three tens. Oil prices are steady, and 153 00:08:48,960 --> 00:08:52,360 Speaker 2: in the bond markets, ten year US treasury yields trading 154 00:08:52,360 --> 00:08:52,880 Speaker 2: a four. 155 00:08:52,720 --> 00:08:53,839 Speaker 8: Spot zero five. 156 00:08:53,960 --> 00:08:56,960 Speaker 2: Germany yields had two sixty six, up about a basis point. 157 00:08:56,960 --> 00:08:59,680 Speaker 3: Stephen the Karlender the key market story of course, that 158 00:08:59,760 --> 00:09:02,320 Speaker 3: dry things yesterday, and I'm watching shares take higher and 159 00:09:02,360 --> 00:09:05,040 Speaker 3: pre market trading on Wall Street against today is oracle. 160 00:09:05,120 --> 00:09:08,480 Speaker 3: So the software companies results are not beat forecast. Push 161 00:09:08,520 --> 00:09:11,400 Speaker 3: shares thirty six percent hire yesterday. They're up about another 162 00:09:11,400 --> 00:09:14,080 Speaker 3: one point seven percent in pre market today. So yesterday 163 00:09:14,120 --> 00:09:16,440 Speaker 3: we saw eighty nine billion dollars being added to the 164 00:09:16,480 --> 00:09:19,720 Speaker 3: fortune of co founder and chairman Larry Allison, the biggest 165 00:09:19,800 --> 00:09:23,720 Speaker 3: ever one day increase records on Bloomberg's Billionaires Index. Push 166 00:09:23,800 --> 00:09:26,319 Speaker 3: Larry Elson, pastyln Mosque on the index as well, made 167 00:09:26,320 --> 00:09:28,840 Speaker 3: in the world's richest person for a short time anyway, 168 00:09:28,960 --> 00:09:31,760 Speaker 3: just a casual three hundred and eighty three billion dollars 169 00:09:31,840 --> 00:09:33,400 Speaker 3: now that Larry Allison is worth. 170 00:09:33,840 --> 00:09:36,920 Speaker 2: Yeah, absolutely what you can read more about that on 171 00:09:37,000 --> 00:09:40,599 Speaker 2: the terminal and also really about what it means for valuations. 172 00:09:41,280 --> 00:09:45,880 Speaker 2: Bloomberg's Shirley Ren writing about this what is fair value 173 00:09:45,920 --> 00:09:48,960 Speaker 2: for a tech company? Now? She says that the question's 174 00:09:49,000 --> 00:09:52,480 Speaker 2: no longer got really good answers because os ficial intelligence 175 00:09:52,520 --> 00:09:54,520 Speaker 2: has upended so much. I mean, that's the story you're 176 00:09:54,559 --> 00:09:58,640 Speaker 2: always on the watch for, how artificial intelligence is rapidly 177 00:09:58,720 --> 00:10:00,480 Speaker 2: changing business and markets. 178 00:10:00,760 --> 00:10:02,280 Speaker 3: Okay, Well, in a moment, we're going to bring you 179 00:10:02,280 --> 00:10:06,320 Speaker 3: more on our exclusive reporting regarding the emails between Peter Mandelson. 180 00:10:05,920 --> 00:10:07,000 Speaker 8: And Jeffrey Epstein. 181 00:10:07,280 --> 00:10:10,960 Speaker 3: Plus we'll be discussing the issues of European Security. Poland 182 00:10:11,160 --> 00:10:14,080 Speaker 3: now convening a meeting of the UN Security Council to 183 00:10:14,280 --> 00:10:18,800 Speaker 3: address the Russian encursion of drones into its territory yesterday. 184 00:10:19,120 --> 00:10:20,720 Speaker 3: But I want to turn back to our top story 185 00:10:20,760 --> 00:10:23,440 Speaker 3: this morning, first and the shooting of American political activist 186 00:10:23,559 --> 00:10:26,839 Speaker 3: Charlie Kirk in Utah. Our reporter Tiwa Adebayo has been 187 00:10:27,040 --> 00:10:29,800 Speaker 3: following this story for US this morning. Tiwa, what do 188 00:10:29,880 --> 00:10:31,520 Speaker 3: we know now about what happened? 189 00:10:31,840 --> 00:10:35,440 Speaker 10: Kirk was at Utah Valley University as part of his 190 00:10:35,559 --> 00:10:39,720 Speaker 10: political advocacy group Turning Point in Usay's American comeback tours, 191 00:10:39,760 --> 00:10:42,640 Speaker 10: it's been dubbed, and he was taking part in an 192 00:10:42,640 --> 00:10:46,000 Speaker 10: event entitled Proved Me Wrong, where the audience attempts to 193 00:10:46,000 --> 00:10:48,760 Speaker 10: sort of stump the pundit. It's something he's widely known 194 00:10:48,800 --> 00:10:52,640 Speaker 10: for online. And at that event where the shooting took place, 195 00:10:52,640 --> 00:10:55,280 Speaker 10: there was more than three thousand people present, according to 196 00:10:55,360 --> 00:10:56,520 Speaker 10: the university police chief. 197 00:10:56,559 --> 00:10:58,400 Speaker 8: They also had put on security. 198 00:10:58,400 --> 00:11:03,040 Speaker 10: There were six local police officers alongside Kirk's own security detail. 199 00:11:03,320 --> 00:11:06,880 Speaker 10: But just twenty minutes after that event started, authorities say 200 00:11:06,880 --> 00:11:09,360 Speaker 10: a single shot was fired at Kirk from a building 201 00:11:09,400 --> 00:11:12,959 Speaker 10: about two hundred yards away. He had actually just begun 202 00:11:13,080 --> 00:11:15,800 Speaker 10: answering a question on the number of mass shooters in 203 00:11:15,840 --> 00:11:19,600 Speaker 10: America over the last decade, and after the shooting, he 204 00:11:19,800 --> 00:11:23,400 Speaker 10: was driven to a local hospital where he later died 205 00:11:23,480 --> 00:11:27,199 Speaker 10: according to police. So far we know that CCTV from 206 00:11:27,240 --> 00:11:30,280 Speaker 10: the event does show a person dressed in dark clothing, 207 00:11:30,320 --> 00:11:33,840 Speaker 10: which is believed to be the suspect, and the FBI 208 00:11:33,920 --> 00:11:37,520 Speaker 10: director Cashpitel said on social media that a person of 209 00:11:37,559 --> 00:11:41,000 Speaker 10: interest was taken into custody and then later released, so 210 00:11:41,080 --> 00:11:44,080 Speaker 10: that investigation is still underway in Utah. 211 00:11:44,960 --> 00:11:47,880 Speaker 2: Tell us about Charlie Kirk and why he was so 212 00:11:48,040 --> 00:11:52,320 Speaker 2: influential and why he might have been targeted well. 213 00:11:52,400 --> 00:11:54,720 Speaker 8: Charlie Kirk was perhaps best known for. 214 00:11:54,679 --> 00:11:59,200 Speaker 10: His work as executive director of Turning Pount USA. He 215 00:11:59,320 --> 00:12:02,560 Speaker 10: founded that group in twenty twelve and it was funded 216 00:12:02,600 --> 00:12:06,439 Speaker 10: by powerful conservatives. But really the hallmark of his work 217 00:12:06,559 --> 00:12:10,119 Speaker 10: was youth engagement and that took him to university campuses 218 00:12:10,320 --> 00:12:13,679 Speaker 10: around the world. We mentioned earlier that trademark proved me 219 00:12:13,720 --> 00:12:17,960 Speaker 10: wrong event Those debates often went viral on social media 220 00:12:18,000 --> 00:12:21,160 Speaker 10: and really were a big part of his notoriety and fame. 221 00:12:21,760 --> 00:12:23,960 Speaker 10: Just in May this year, he took part in a 222 00:12:24,080 --> 00:12:29,959 Speaker 10: particularly important debates in the University of Cambridge's Union Society, 223 00:12:30,040 --> 00:12:34,920 Speaker 10: which amassed millions of views on YouTube. He was known 224 00:12:34,960 --> 00:12:39,960 Speaker 10: at times for controversial politics and statements, including criticism of 225 00:12:40,040 --> 00:12:44,360 Speaker 10: Martin Luther King and other heavily questioned claims, but his 226 00:12:44,480 --> 00:12:48,840 Speaker 10: work in politics started well before Turning Points Foundation. He 227 00:12:49,000 --> 00:12:52,280 Speaker 10: began the advocacy and the involvement in politics really in 228 00:12:52,400 --> 00:12:56,280 Speaker 10: high school. Notably, he wrote a now famous essay for 229 00:12:56,320 --> 00:13:00,560 Speaker 10: Breitbart News about liberal bias and economic textbooks, and that 230 00:13:00,640 --> 00:13:03,920 Speaker 10: in him a lot of media attention. He was a 231 00:13:03,960 --> 00:13:06,920 Speaker 10: regular on channels like Fox Business as well as taking 232 00:13:06,920 --> 00:13:10,360 Speaker 10: part in speaking engagements around the country. But that theme 233 00:13:10,559 --> 00:13:14,840 Speaker 10: of what he really regarded as exposing and correcting liberal 234 00:13:14,880 --> 00:13:19,640 Speaker 10: biases continued throughout his career. Definitely with Turning Point USA 235 00:13:19,800 --> 00:13:24,280 Speaker 10: that welcomed conservative students who themselves were eager to prove 236 00:13:24,360 --> 00:13:29,360 Speaker 10: these liberal biases on college campuses, the organization grew to 237 00:13:29,559 --> 00:13:32,760 Speaker 10: an enormous size. It had more than eight hundred college 238 00:13:32,840 --> 00:13:36,280 Speaker 10: chapters according to its website, and actually in twenty twenty four, 239 00:13:36,360 --> 00:13:39,880 Speaker 10: their tax filings say they grossed nearly eighty five million 240 00:13:39,920 --> 00:13:43,760 Speaker 10: dollars in revenue, but certainly in the last few years. 241 00:13:43,880 --> 00:13:47,280 Speaker 10: He was instrumental in the MAGA movement and really a 242 00:13:47,360 --> 00:13:52,280 Speaker 10: very valuable ally to President Trump. We saw the extent 243 00:13:52,400 --> 00:13:56,319 Speaker 10: of that valued relationship in a really lengthy video posted 244 00:13:56,360 --> 00:14:00,400 Speaker 10: by the President eulogizing him on social media. But in 245 00:14:00,480 --> 00:14:03,480 Speaker 10: terms of the reasons for perhaps the targeting, we don't 246 00:14:03,840 --> 00:14:07,320 Speaker 10: really know anything about the motivations behind this specific crime, 247 00:14:07,840 --> 00:14:11,240 Speaker 10: but we've had from the Utah Governor Spencer Cox, who 248 00:14:11,280 --> 00:14:15,520 Speaker 10: has described it as a political assassination, and others are 249 00:14:15,559 --> 00:14:18,680 Speaker 10: coming to the same conclusion on social media today. 250 00:14:19,440 --> 00:14:21,800 Speaker 3: Okay, t, thank you very much. That's our reporter too, 251 00:14:21,880 --> 00:14:23,760 Speaker 3: had a bio there and we heard a little bit 252 00:14:23,800 --> 00:14:26,720 Speaker 3: of President Trump's reaction to that killing earlier, and there's 253 00:14:26,720 --> 00:14:28,680 Speaker 3: also been condemnation of the killing from the likes of 254 00:14:28,760 --> 00:14:31,640 Speaker 3: Joe Biden and Barack Obama as well have offered their 255 00:14:31,680 --> 00:14:36,680 Speaker 3: condolences to Charlie Kirk's family. Stay with us. More from 256 00:14:36,720 --> 00:14:39,360 Speaker 3: Bloomberg Daybreak Europe coming up after this. 257 00:14:40,600 --> 00:14:42,520 Speaker 8: Now to politics, who are in the UK. 258 00:14:42,680 --> 00:14:46,120 Speaker 2: The emails between Peter Mandelson, the British ambassador to the 259 00:14:46,240 --> 00:14:49,520 Speaker 2: United States, and the disgraced financier Jeffrey Epstein that have 260 00:14:49,600 --> 00:14:53,360 Speaker 2: been seen by Bloomberg News interactions between twenty five and 261 00:14:53,400 --> 00:14:57,400 Speaker 2: twenty twen, which reveal new details about their relationship. Our 262 00:14:57,400 --> 00:15:00,560 Speaker 2: fun As reporter Harry Wilson joins us Now for more. 263 00:15:01,000 --> 00:15:04,960 Speaker 2: It's interesting because Lord Manderson Peter Manderson a referenced the 264 00:15:05,000 --> 00:15:09,280 Speaker 2: fact in recent TV interviews and commentaries that maybe more 265 00:15:09,360 --> 00:15:13,200 Speaker 2: might emerge. What do we know about what has been 266 00:15:13,240 --> 00:15:16,040 Speaker 2: said in these emails and what it reveals about their relationship? 267 00:15:16,160 --> 00:15:20,120 Speaker 11: Well, the emails are really an extraordinary insights into the 268 00:15:20,160 --> 00:15:23,760 Speaker 11: relationship between Peter Manderson and Jeffrey Epstein. I think what 269 00:15:23,800 --> 00:15:26,640 Speaker 11: you see is just the depth of their friendship. The 270 00:15:26,680 --> 00:15:30,920 Speaker 11: fact that Manderson was so supportive seemingly to Epstein throughout 271 00:15:30,960 --> 00:15:35,000 Speaker 11: what is now obviously an incredibly controversial period in time. 272 00:15:35,440 --> 00:15:38,760 Speaker 11: And I think it shows that Manderson it wasn't just supportive, 273 00:15:38,800 --> 00:15:40,600 Speaker 11: he was an active, I guess, sort of helper in 274 00:15:40,640 --> 00:15:41,880 Speaker 11: some ways of Epstein. 275 00:15:42,440 --> 00:15:45,640 Speaker 3: These emails days from fifteen years ago. What do their 276 00:15:45,760 --> 00:15:49,320 Speaker 3: publication now mean for Peter Mandelson and his current role. 277 00:15:49,800 --> 00:15:52,280 Speaker 11: It remains to be seen. He's obviously under an enormous 278 00:15:52,280 --> 00:15:55,280 Speaker 11: amount of pressure. The Prime Minister kissed Arma is under 279 00:15:55,400 --> 00:15:58,880 Speaker 11: enormous pressure to react to this. There's countless cause now 280 00:15:58,960 --> 00:16:01,720 Speaker 11: for Manderlsson to be removed from his post. I can't 281 00:16:01,760 --> 00:16:04,400 Speaker 11: believe obviously that these emails will do anything to improve 282 00:16:04,440 --> 00:16:06,480 Speaker 11: his situation. And I think there must be a clock 283 00:16:06,520 --> 00:16:09,440 Speaker 11: ticking now on when the government reacts to it. 284 00:16:09,720 --> 00:16:14,000 Speaker 2: And it's the question around judgment, isn't it. And Mandelson 285 00:16:14,080 --> 00:16:17,200 Speaker 2: is obviously a well known political figure in the UK, 286 00:16:17,400 --> 00:16:19,880 Speaker 2: instrumental in Tony Blair's government, but now we have a 287 00:16:19,960 --> 00:16:23,720 Speaker 2: labor government in power and he is US ambassador all 288 00:16:23,760 --> 00:16:28,200 Speaker 2: the more important. I mean he's a hugely well known figure. 289 00:16:28,320 --> 00:16:31,400 Speaker 2: What has he said about this? In response? 290 00:16:32,000 --> 00:16:34,400 Speaker 11: He's kept up a line which he's had actually really 291 00:16:34,400 --> 00:16:36,720 Speaker 11: for many years, which is that he very much regrets 292 00:16:36,720 --> 00:16:39,520 Speaker 11: his association with Epstein. He says, you know, this is 293 00:16:39,920 --> 00:16:42,840 Speaker 11: association with him went on far too long. And frankly, 294 00:16:43,000 --> 00:16:46,040 Speaker 11: this use of this word association is really quite ridiculous. 295 00:16:46,080 --> 00:16:47,640 Speaker 11: I mean, it was a friendship that they had, It 296 00:16:47,760 --> 00:16:50,440 Speaker 11: wasn't an association. That's just some mediam mouth words that 297 00:16:50,600 --> 00:16:52,920 Speaker 11: he chooses to use. What we're seeing here is I 298 00:16:52,920 --> 00:16:55,480 Speaker 11: think a slow I'm picking of a story that he 299 00:16:55,520 --> 00:16:58,680 Speaker 11: has told about a friendship which he regrets, but which 300 00:16:58,720 --> 00:17:00,560 Speaker 11: we see now was incredibly deep. 301 00:17:00,440 --> 00:17:02,560 Speaker 2: And I suppose what does it mean for government? That's 302 00:17:02,560 --> 00:17:06,080 Speaker 2: the other issue. How important is it when Mandelsohn is 303 00:17:06,080 --> 00:17:10,400 Speaker 2: meant to be representing the UK in the US. This 304 00:17:10,520 --> 00:17:13,560 Speaker 2: is a very difficult position for the Prime Minister, surely 305 00:17:13,840 --> 00:17:15,880 Speaker 2: Kistarma to be. So what do you think is going 306 00:17:15,920 --> 00:17:18,960 Speaker 2: to be the balance and the discussions that are being 307 00:17:19,040 --> 00:17:22,040 Speaker 2: had maybe behind closed doors in government on this point. 308 00:17:21,880 --> 00:17:24,760 Speaker 11: I think this is probably epically bad timing for the government. 309 00:17:24,880 --> 00:17:27,600 Speaker 11: Next week we have Trump flying into the UK for 310 00:17:27,680 --> 00:17:31,040 Speaker 11: his state visit and to have the ambassador to Washington 311 00:17:31,160 --> 00:17:34,879 Speaker 11: embroiled in a Epstein scandal, which is obviously for the 312 00:17:34,920 --> 00:17:41,880 Speaker 11: Trump administration a major sort of exposed nerve. So it's 313 00:17:41,920 --> 00:17:45,000 Speaker 11: really hard to think of a worse situation for them 314 00:17:45,119 --> 00:17:47,920 Speaker 11: at the time, and this must be hugely unwelcome. 315 00:17:47,800 --> 00:17:51,600 Speaker 3: Harry, This series of emails has a lot of prosess 316 00:17:51,600 --> 00:17:53,439 Speaker 3: a lot of questions as well, with a lot of 317 00:17:53,440 --> 00:17:55,680 Speaker 3: factors unknown in them as well. Where do you see 318 00:17:55,720 --> 00:17:58,200 Speaker 3: this story going from here? Are there further questions that 319 00:17:58,240 --> 00:17:59,840 Speaker 3: are going to have to be answered about the content 320 00:17:59,880 --> 00:18:01,720 Speaker 3: of There. 321 00:18:00,880 --> 00:18:03,160 Speaker 11: Are going to be firm questions. I think it's people 322 00:18:03,200 --> 00:18:05,760 Speaker 11: will want to know exactly what level of support was 323 00:18:05,800 --> 00:18:11,360 Speaker 11: Mandelson providing to Epstein during his investigation and later incarceration 324 00:18:11,560 --> 00:18:13,960 Speaker 11: for procuring sex from a minor. I mean, these were 325 00:18:14,400 --> 00:18:18,159 Speaker 11: exceedingly serious charges and to say, now, well he was 326 00:18:18,240 --> 00:18:19,720 Speaker 11: lied to and this sort of thing. But he's you know, 327 00:18:19,760 --> 00:18:22,320 Speaker 11: he's a grown man, he's an educated man. I mean 328 00:18:22,480 --> 00:18:23,400 Speaker 11: he should have known better. 329 00:18:23,640 --> 00:18:25,200 Speaker 8: Harry, thank you so much for being with us. 330 00:18:25,520 --> 00:18:28,359 Speaker 2: The details of this story are in a long read 331 00:18:28,560 --> 00:18:31,720 Speaker 2: and I would say to our listeners to have a 332 00:18:31,720 --> 00:18:33,959 Speaker 2: look at it. UKM Bassat told Epstein, I think the 333 00:18:34,000 --> 00:18:37,240 Speaker 2: World of View emails reveal. So this is a number 334 00:18:37,240 --> 00:18:39,720 Speaker 2: of Blimberg reporters, including Harry Wilson, that you just heard 335 00:18:39,760 --> 00:18:42,760 Speaker 2: there on these important revelations really around the emails and 336 00:18:42,800 --> 00:18:48,040 Speaker 2: the content of the correspondence between Mandelson and Jeffrey Epstein 337 00:18:48,160 --> 00:18:50,720 Speaker 2: are dating back to the two thousand. So thanks to 338 00:18:50,880 --> 00:18:53,399 Speaker 2: our finance reporter Harry Wilson, what to. 339 00:18:53,400 --> 00:18:55,720 Speaker 3: Worth and he is now. Poland's Foreign ministry says that 340 00:18:56,160 --> 00:18:58,639 Speaker 3: UN Security Council will hold a meeting to discuss the 341 00:18:58,760 --> 00:19:02,280 Speaker 3: encouragement by Russian Joe into its airspace yesterday. The country's 342 00:19:02,280 --> 00:19:05,560 Speaker 3: already saw consultations with NATO allies, which could lead to 343 00:19:05,600 --> 00:19:09,280 Speaker 3: a joint response. Bloomberg Opinion columnist Mark Champion joins us. 344 00:19:09,320 --> 00:19:11,919 Speaker 3: Now for more, Mark, you've been writing about this drone 345 00:19:12,000 --> 00:19:15,080 Speaker 3: encouraging for Bloomberg Opinion. What are the I suppose, key 346 00:19:15,080 --> 00:19:17,359 Speaker 3: things that we should be focusing on when thinking about 347 00:19:17,359 --> 00:19:18,480 Speaker 3: the significance of. 348 00:19:18,400 --> 00:19:21,200 Speaker 8: This, Yes, well, I think. 349 00:19:22,720 --> 00:19:26,399 Speaker 12: Less perhaps what is done at the UN Security Council, 350 00:19:26,480 --> 00:19:30,200 Speaker 12: which will be you know, given that Russia sits there 351 00:19:30,280 --> 00:19:34,240 Speaker 12: has a veto, it will be you know, interesting theater. 352 00:19:35,200 --> 00:19:39,600 Speaker 12: There will be plenty of fireworks and you know, diplomatically, 353 00:19:39,680 --> 00:19:41,119 Speaker 12: you know, there'll be a lot of focus on it. 354 00:19:41,480 --> 00:19:46,960 Speaker 12: But ultimately, this was a military operation and despite all 355 00:19:47,720 --> 00:19:52,600 Speaker 12: you know Russian not denials but obfiscations, it's clearly a 356 00:19:52,680 --> 00:19:56,360 Speaker 12: deliberate attempt from Russia at a time when they are 357 00:19:56,359 --> 00:19:59,520 Speaker 12: conducting military exercises in Bulorus right over the border with 358 00:19:59,600 --> 00:20:06,560 Speaker 12: Poland to test NATO air defenses. And that is really 359 00:20:06,640 --> 00:20:10,240 Speaker 12: where the focus should be. And you know, what we 360 00:20:10,359 --> 00:20:14,640 Speaker 12: know so far is that NATA really struggled. These were 361 00:20:14,760 --> 00:20:18,560 Speaker 12: very very cheap drones. They're decoy drones as far as 362 00:20:18,560 --> 00:20:21,959 Speaker 12: we know, you know, none of them were armed, and 363 00:20:22,000 --> 00:20:26,160 Speaker 12: they're made of polystyrene and plywood. They cost about ten 364 00:20:26,240 --> 00:20:31,600 Speaker 12: thousand dollars a piece to make from Chinese kits. And 365 00:20:32,280 --> 00:20:34,600 Speaker 12: you know what they're getting shot down with by the 366 00:20:34,680 --> 00:20:38,639 Speaker 12: F sixteens and F thirty fives that were scrambled. You know, 367 00:20:38,680 --> 00:20:41,360 Speaker 12: the air to air missiles that those things use, they 368 00:20:41,400 --> 00:20:44,080 Speaker 12: cost anywhere from about four hundred thousand to two million 369 00:20:44,119 --> 00:20:47,679 Speaker 12: dollars a piece. And if they you know, apparently the 370 00:20:47,720 --> 00:20:51,880 Speaker 12: Poles are also mobilized patriots, those missiles cost about four 371 00:20:51,880 --> 00:20:55,560 Speaker 12: million dollars a piece. So they shot down maybe four 372 00:20:55,600 --> 00:20:58,000 Speaker 12: of the twenty or so. We don't know all the 373 00:20:58,040 --> 00:21:02,600 Speaker 12: details yet, and you know, whether they just couldn't shoot 374 00:21:02,600 --> 00:21:04,960 Speaker 12: the rest down or they realized that they were decoys 375 00:21:05,000 --> 00:21:07,879 Speaker 12: and that they were wasting huge sums of money bringing 376 00:21:07,920 --> 00:21:10,639 Speaker 12: them down, we don't know. But Putin will have learned 377 00:21:10,720 --> 00:21:14,360 Speaker 12: a good deal. And the important thing to watch, I think, 378 00:21:14,560 --> 00:21:18,320 Speaker 12: is that you know, what does NATO learn, And it's 379 00:21:18,359 --> 00:21:21,200 Speaker 12: going to need to learn a lot from the Ukrainians 380 00:21:21,200 --> 00:21:23,679 Speaker 12: about how they are dealing with this threat, which is 381 00:21:24,119 --> 00:21:27,239 Speaker 12: very difficult for them too. The question is how do 382 00:21:27,280 --> 00:21:32,320 Speaker 12: you when a country can throw hundreds or up to a. 383 00:21:32,320 --> 00:21:34,000 Speaker 8: Thousand drones at you in a wave. 384 00:21:35,600 --> 00:21:36,520 Speaker 5: How do you deal with that? 385 00:21:36,880 --> 00:21:39,560 Speaker 2: Okay, alarm bells on the basis of what you say, 386 00:21:39,760 --> 00:21:43,679 Speaker 2: must be ringing loudly across Europe. And I just contrast 387 00:21:43,720 --> 00:21:46,560 Speaker 2: that with what the first Sea lot here in Britain 388 00:21:46,640 --> 00:21:51,399 Speaker 2: said this week about the DSi event. So this major 389 00:21:51,480 --> 00:21:56,600 Speaker 2: gathering of the defense industry, basically the arms industry in London, 390 00:21:57,040 --> 00:21:59,560 Speaker 2: and he's talking about my mission is to move the 391 00:21:59,640 --> 00:22:04,400 Speaker 2: Rule Navy to war fighting readiness over the next four years. 392 00:22:04,960 --> 00:22:09,040 Speaker 2: I mean, surely those sorts of statements that we're hearing about, 393 00:22:09,080 --> 00:22:12,400 Speaker 2: you know, the length of time, that's the worry. How 394 00:22:12,520 --> 00:22:16,040 Speaker 2: is Poland responding then to this? If they weren't able, 395 00:22:16,119 --> 00:22:19,679 Speaker 2: as you say, to shoot everything down, what's the Polish response? 396 00:22:19,760 --> 00:22:21,520 Speaker 12: Well, you know, in fairness to the polls, they are 397 00:22:21,560 --> 00:22:25,760 Speaker 12: the one native country that has responded, you know, with 398 00:22:26,080 --> 00:22:30,880 Speaker 12: urgency to the war in Ukraine. So they have massively 399 00:22:30,960 --> 00:22:35,440 Speaker 12: increased their defense spending and now are you know, probably 400 00:22:35,800 --> 00:22:41,920 Speaker 12: the second largest European military force after Turkey and Nata, 401 00:22:43,080 --> 00:22:47,560 Speaker 12: and so you know they have responded the UK. In 402 00:22:47,640 --> 00:22:52,080 Speaker 12: fairness to the UK also, it has a contract that 403 00:22:52,119 --> 00:22:55,960 Speaker 12: they're just rolling out as it happens to mass produce 404 00:22:56,040 --> 00:22:58,959 Speaker 12: interceptor drones with the Ukrainians. 405 00:22:59,000 --> 00:22:59,480 Speaker 8: These are the. 406 00:22:59,400 --> 00:23:02,800 Speaker 12: Things that you Ranians are turning to, you know, other small, 407 00:23:02,880 --> 00:23:07,160 Speaker 12: other cheap drones that are a bit faster than these 408 00:23:08,160 --> 00:23:12,400 Speaker 12: gerberas or the Ghiran drones, the shah heads, and they 409 00:23:12,560 --> 00:23:16,400 Speaker 12: chase them and fight and shoot them down. The thing 410 00:23:16,440 --> 00:23:20,439 Speaker 12: about this is that any solution is produced has to 411 00:23:20,480 --> 00:23:23,639 Speaker 12: be dynamic, because as soon as you produce something, the 412 00:23:23,720 --> 00:23:27,640 Speaker 12: Russians produce a counter and you then have to upgrade 413 00:23:27,680 --> 00:23:28,159 Speaker 12: what you have. 414 00:23:28,280 --> 00:23:29,120 Speaker 8: The Ukrainians are. 415 00:23:29,000 --> 00:23:31,119 Speaker 12: Doing this all the time, every day in the field. 416 00:23:31,119 --> 00:23:34,240 Speaker 12: They have direct lines of communication between the front lines 417 00:23:34,280 --> 00:23:37,000 Speaker 12: and the people who are making the drones, the counter 418 00:23:37,080 --> 00:23:40,399 Speaker 12: drones that ew, the electronic warfare equipment and so on, 419 00:23:41,160 --> 00:23:43,680 Speaker 12: always feeding back. And this is the kind of thing 420 00:23:43,720 --> 00:23:45,560 Speaker 12: that NATA is going to have to learn to do. 421 00:23:46,359 --> 00:23:49,040 Speaker 12: And I think what they will be, you know, are 422 00:23:49,480 --> 00:23:53,160 Speaker 12: beginning to understand is the only way that they can 423 00:23:53,320 --> 00:23:56,280 Speaker 12: actually prepare a defense for themselves is to get more 424 00:23:56,320 --> 00:24:03,640 Speaker 12: involved with the Ukrainians in in how they are manufacturing 425 00:24:03,680 --> 00:24:06,160 Speaker 12: what they are manufacturing, which is what the UK has 426 00:24:06,200 --> 00:24:08,080 Speaker 12: begun to do, which I think is a good sign. 427 00:24:08,760 --> 00:24:10,800 Speaker 3: We heard Orislov underline yesterday in her Stage of the 428 00:24:10,840 --> 00:24:12,639 Speaker 3: Union speech talk about the need for a wall of 429 00:24:12,720 --> 00:24:15,840 Speaker 3: drones on the EU's eastern flank. I mean it's something 430 00:24:15,920 --> 00:24:17,960 Speaker 3: like that realistic given what you're saying. 431 00:24:18,880 --> 00:24:22,320 Speaker 12: Well, it is. I mean, it's what the Ukrainians are doing. 432 00:24:22,320 --> 00:24:24,920 Speaker 12: The Ukrainians are producing millions of drones a year at 433 00:24:24,920 --> 00:24:29,159 Speaker 12: this point, and it's what the rest of NATO has to, 434 00:24:29,480 --> 00:24:31,560 Speaker 12: you know, think again about doing. 435 00:24:31,600 --> 00:24:34,320 Speaker 8: If you think about what the Cold War looked. 436 00:24:34,040 --> 00:24:37,879 Speaker 12: Like with tens of thousands of battle tanks, you know, 437 00:24:38,000 --> 00:24:40,720 Speaker 12: lined up on either side, I think the way we 438 00:24:40,760 --> 00:24:43,800 Speaker 12: need to think about this is, you know, these are 439 00:24:44,800 --> 00:24:48,639 Speaker 12: in what is a new you know, cold War style 440 00:24:49,600 --> 00:24:54,440 Speaker 12: conflict is developing. You know, the drones are the new 441 00:24:54,800 --> 00:24:58,440 Speaker 12: battle tanks and we're going to have to mass produce them. 442 00:24:58,800 --> 00:25:01,359 Speaker 12: They are the things that are going to protect us 443 00:25:01,400 --> 00:25:04,680 Speaker 12: because the warfare now it can be done. It doesn't 444 00:25:04,680 --> 00:25:07,720 Speaker 12: have to be conducted on lat end. The Russians have 445 00:25:07,760 --> 00:25:13,720 Speaker 12: demonstrated that it's possible to conduct or at a long 446 00:25:13,840 --> 00:25:17,600 Speaker 12: range level and it doesn't matter if you're the UK 447 00:25:18,280 --> 00:25:19,840 Speaker 12: or if you're Poland, you can be hit. 448 00:25:20,840 --> 00:25:21,080 Speaker 8: Yeah. 449 00:25:21,119 --> 00:25:23,679 Speaker 2: Absolutely, So, you know I' imagining some of those lines 450 00:25:23,680 --> 00:25:28,040 Speaker 2: of Jones. As you say, in terms of the US, 451 00:25:28,440 --> 00:25:33,400 Speaker 2: surely the US response around NATO, maybe even the US 452 00:25:33,560 --> 00:25:38,159 Speaker 2: president's response around this incursion into Poland is actually the 453 00:25:38,240 --> 00:25:40,320 Speaker 2: thing that everybody is waiting for him. And there were 454 00:25:40,400 --> 00:25:44,960 Speaker 2: some statements out of the US military about NATO, but 455 00:25:45,119 --> 00:25:46,680 Speaker 2: is that what people are waiting for. 456 00:25:47,240 --> 00:25:51,960 Speaker 12: Absolutely what Trump does in the next few days is critical. 457 00:25:52,840 --> 00:25:55,879 Speaker 12: The initial response that he had on true social is 458 00:25:56,080 --> 00:26:00,760 Speaker 12: very worrying. Essentially what he said was, you know, what's 459 00:26:00,840 --> 00:26:06,040 Speaker 12: what's this with you know, Poland? Russia sending drones at Poland? 460 00:26:06,320 --> 00:26:07,000 Speaker 8: Here we go. 461 00:26:07,160 --> 00:26:10,280 Speaker 12: It's like, you know, he's a spectator in the stands 462 00:26:10,280 --> 00:26:14,480 Speaker 12: of an ice hockey game or something, and that is what, 463 00:26:15,160 --> 00:26:17,520 Speaker 12: you know, the rest of NATA will be very concerned about. 464 00:26:17,560 --> 00:26:22,000 Speaker 12: It's what Russia and China will be watching for. And 465 00:26:22,080 --> 00:26:25,560 Speaker 12: in fact, you know, not so long ago, Sky News 466 00:26:25,560 --> 00:26:30,440 Speaker 12: put together a very interesting wargame where in order to test, 467 00:26:30,520 --> 00:26:33,199 Speaker 12: you know, what what would happen if Russia was to 468 00:26:33,240 --> 00:26:36,600 Speaker 12: attack the UK and the kind of core element in 469 00:26:36,640 --> 00:26:41,760 Speaker 12: that wargame it became clear immediately was the first action 470 00:26:41,880 --> 00:26:43,480 Speaker 12: of the Prime Minister was to get on the phone 471 00:26:43,520 --> 00:26:46,840 Speaker 12: to Washington make sure that Washington took the UK side 472 00:26:47,119 --> 00:26:51,040 Speaker 12: and supported it fully. What actually happens in the wargame 473 00:26:51,880 --> 00:26:54,920 Speaker 12: is that you know, Washington doesn't. It's kind of a 474 00:26:54,960 --> 00:26:57,960 Speaker 12: bit of a spectator and it's just both sidei ism 475 00:26:58,840 --> 00:27:02,920 Speaker 12: and that leads to a recognition that the UK really 476 00:27:02,920 --> 00:27:06,320 Speaker 12: can't compete with Russia because he doesn't have US support. 477 00:27:06,400 --> 00:27:08,280 Speaker 12: This is the sort of thing that all of NATO 478 00:27:08,320 --> 00:27:09,640 Speaker 12: will be worrying about. 479 00:27:10,520 --> 00:27:13,240 Speaker 3: This is Bloomberg Daybreak Europe, your morning brief on the 480 00:27:13,320 --> 00:27:16,360 Speaker 3: stories making news from London to Wall Street and beyond. 481 00:27:16,680 --> 00:27:20,680 Speaker 2: Look for us on your podcast feed every morning, on Apple, Spotify, 482 00:27:20,760 --> 00:27:22,800 Speaker 2: and anywhere else you get your podcasts. 483 00:27:22,840 --> 00:27:25,920 Speaker 3: You can also listen live each morning on London DAB Radio, 484 00:27:25,960 --> 00:27:28,639 Speaker 3: the Bloomberg Business app, and Bloomberg dot Com. 485 00:27:28,680 --> 00:27:31,439 Speaker 2: Our flagship New York station is also available on your 486 00:27:31,480 --> 00:27:36,199 Speaker 2: Amazon Alexa devices. Just say Alexa play Bloomberg eleven thirty. 487 00:27:36,440 --> 00:27:38,199 Speaker 8: I'm Caroline Hepka and I'm Stephen. 488 00:27:38,200 --> 00:27:40,760 Speaker 3: Carol. Join us again tomorrow morning for all the news 489 00:27:40,840 --> 00:27:43,440 Speaker 3: you need to start your day right here on Bloomberg 490 00:27:43,480 --> 00:27:48,040 Speaker 3: day Break Europe.