1
00:00:01,600 --> 00:00:04,440
Speaker 1: News when you want it with Bloomberg News Now. I'm

2
00:00:04,480 --> 00:00:07,960
Speaker 1: Brian Curtis in Los Angeles. Day two of the Democratic

3
00:00:08,039 --> 00:00:11,800
Speaker 1: National Convention is coming to a close. Former President Barack

4
00:00:11,840 --> 00:00:15,720
Speaker 1: Obama addressed the audience in his hometown of Chicago. Obama

5
00:00:15,840 --> 00:00:18,520
Speaker 1: said that Vice President Kamala Harris is the right person

6
00:00:18,560 --> 00:00:19,520
Speaker 1: to lead the country.

7
00:00:20,120 --> 00:00:25,680
Speaker 2: Kamala Harris won't be focused on her problems. She'll be

8
00:00:25,720 --> 00:00:33,199
Speaker 2: focused on yours. As president, she won't just cater to

9
00:00:33,280 --> 00:00:36,920
Speaker 2: her own supporters and punish those who refuse to kiss

10
00:00:36,960 --> 00:00:41,240
Speaker 2: the ring or bend the knee. She'll work on behalf

11
00:00:41,280 --> 00:00:46,600
Speaker 2: of every American. That's who Kamala is. And in the

12
00:00:46,600 --> 00:00:52,120
Speaker 2: White House, she will have an outstanding partner in Governor Tim.

13
00:00:51,960 --> 00:01:03,720
Speaker 1: Waalz President Barack Obama. Day two featured speakers such as

14
00:01:03,800 --> 00:01:07,920
Speaker 1: Illinois Governor JB. Pritzker, Senate Majority Leader Chuck Schumer, and

15
00:01:08,040 --> 00:01:12,280
Speaker 1: Vermont Senator Bernie Sanders. It's worth noting that Kamala Harris

16
00:01:12,360 --> 00:01:16,160
Speaker 1: hired Obama's top advisors to build out her presidential campaign.

17
00:01:16,760 --> 00:01:19,760
Speaker 1: The hires represent a cold calculation with less than three

18
00:01:19,760 --> 00:01:23,040
Speaker 1: months to go to election day. In other news, US

19
00:01:23,120 --> 00:01:26,560
Speaker 1: Secretary of State Anthony Blincoln says the ceasefire and hostage

20
00:01:26,600 --> 00:01:29,400
Speaker 1: deal needs to be put over the finish line. It

21
00:01:29,560 --> 00:01:33,160
Speaker 1: comes as Hamas earlier said that it was keen to

22
00:01:33,240 --> 00:01:36,480
Speaker 1: reach a deal. Here is Secretary of State Anthony Blincoln

23
00:01:36,520 --> 00:01:37,319
Speaker 1: in Doha.

24
00:01:37,400 --> 00:01:42,720
Speaker 3: Our message is simple, it's clear, and it's urgent. We

25
00:01:42,840 --> 00:01:45,560
Speaker 3: need to get the ceasefire and hostage agreement over the

26
00:01:45,600 --> 00:01:50,480
Speaker 3: finish line, and we need to do it now. Time

27
00:01:51,200 --> 00:01:54,360
Speaker 3: is of the essence as necessary hearing from both the parties,

28
00:01:55,200 --> 00:01:59,280
Speaker 3: to provide some clarifications, to provide some additional detail. And

29
00:01:59,320 --> 00:02:02,400
Speaker 3: that's exactly what went into the bridging proposal that are

30
00:02:02,400 --> 00:02:05,200
Speaker 3: three countries put forward just a little over a week ago.

31
00:02:06,120 --> 00:02:08,560
Speaker 3: Israel has now accepted that proposal. I heard that directly

32
00:02:08,560 --> 00:02:12,800
Speaker 3: from Primesternetnyao yesterday and we hope and expect that Hamas

33
00:02:12,840 --> 00:02:13,440
Speaker 3: will do the same.

34
00:02:14,320 --> 00:02:15,880
Speaker 4: That's the critical dex step.

35
00:02:15,760 --> 00:02:19,119
Speaker 1: That was US Secretary of State Anthony Blincoln. He left

36
00:02:19,120 --> 00:02:21,799
Speaker 1: the Middle East having failed to secure a deal to

37
00:02:21,840 --> 00:02:25,880
Speaker 1: halt the fighting between Hamas and Israel. Blincoln also highlighted

38
00:02:25,919 --> 00:02:30,040
Speaker 1: how the two sides remain sharply divided. Elsewhere, Ukraine's President

39
00:02:30,120 --> 00:02:33,799
Speaker 1: Vladimir Zelenski is calling on the US and European allies

40
00:02:33,840 --> 00:02:37,520
Speaker 1: to lift their restrictions on long range weapons. Bloomberg's Tony

41
00:02:37,560 --> 00:02:39,640
Speaker 1: Halpen leads our Russia coverage.

42
00:02:40,360 --> 00:02:42,760
Speaker 5: Vladimir Zelenski was in pretty bullish mood when he was

43
00:02:42,800 --> 00:02:46,840
Speaker 5: talking to Ukrainian diplomats yesterday. He said that essentially Ukrainian

44
00:02:46,880 --> 00:02:50,519
Speaker 5: forces control close to five hundred square miles inside Russia,

45
00:02:50,639 --> 00:02:53,240
Speaker 5: that they're continuing to expand their presence there, and it

46
00:02:53,320 --> 00:02:56,320
Speaker 5: was very much making the case that this vindicated his

47
00:02:56,480 --> 00:02:59,800
Speaker 5: argument that the Ukraine's allies should remove any restrictions on

48
00:02:59,840 --> 00:03:01,120
Speaker 5: the long range weapons.

49
00:03:01,520 --> 00:03:06,320
Speaker 1: Bloomberg's Tony Halpin. Zelensky argued that Ukraine's incursion would have

50
00:03:06,360 --> 00:03:08,959
Speaker 1: been seen as crossing the strictest of red lines for

51
00:03:09,040 --> 00:03:11,960
Speaker 1: Russia just a few months ago. Now he says he's

52
00:03:12,000 --> 00:03:15,679
Speaker 1: proven the concept of red lines having crumbled away. FED

53
00:03:15,720 --> 00:03:18,480
Speaker 1: Governor Michelle Bowman says she would support rate cuts if

54
00:03:18,520 --> 00:03:22,480
Speaker 1: price is slow further. Bowman also warned of upside risk

55
00:03:22,520 --> 00:03:27,200
Speaker 1: from geopolitics and about increased housing demand. Bowman is the

56
00:03:27,240 --> 00:03:30,359
Speaker 1: latest in a chorus of policymakers hinting at a cut

57
00:03:30,360 --> 00:03:33,840
Speaker 1: in September. On Friday, all eyes and ears will be

58
00:03:33,880 --> 00:03:36,880
Speaker 1: on Jackson Hole, Wyoming, where we will hear from FED

59
00:03:37,000 --> 00:03:40,280
Speaker 1: chair Jay Powell. The European Union plans to introduce an

60
00:03:40,320 --> 00:03:44,200
Speaker 1: additional nine percent tariff on Tesla models imported from China.

61
00:03:44,760 --> 00:03:48,280
Speaker 1: That's on top of the ten percent exporters are already paying.

62
00:03:48,680 --> 00:03:52,000
Speaker 1: Dan Ives from Webbush Security says this could be described

63
00:03:52,000 --> 00:03:55,880
Speaker 1: as good news for Tesla.

64
00:03:54,520 --> 00:03:57,400
Speaker 6: But that's down from twenty percent. Basically they have it.

65
00:03:57,640 --> 00:03:59,160
Speaker 6: I think it shows that they're going to have an

66
00:03:59,200 --> 00:04:02,600
Speaker 6: advantaged first of the Chinese players going into Europe, because

67
00:04:02,600 --> 00:04:06,720
Speaker 6: that's what Yuok and Neo x Paint bid. They're focused

68
00:04:06,760 --> 00:04:09,560
Speaker 6: on Europe. That gives an advantaged Tessa.

69
00:04:09,800 --> 00:04:13,240
Speaker 1: Dan Ives of wet Bush Securities. Tesla stock was down

70
00:04:13,320 --> 00:04:16,640
Speaker 1: seven ten to one percent. China is considering a new

71
00:04:16,680 --> 00:04:20,760
Speaker 1: funding option for local governments. Bloomberg's Bonnie Ou has the

72
00:04:20,800 --> 00:04:22,040
Speaker 1: story from Hong Kong.

73
00:04:22,800 --> 00:04:25,479
Speaker 7: The latest proposal would be for local governments to buy

74
00:04:25,600 --> 00:04:29,320
Speaker 7: unsold homes. We heard the proposal would allow governments to

75
00:04:29,360 --> 00:04:33,080
Speaker 7: fund their purchases by issuing special bonds. However, more than

76
00:04:33,160 --> 00:04:35,640
Speaker 7: half to five hundred and forty six billion dollar quota

77
00:04:35,839 --> 00:04:38,800
Speaker 7: have already been used for special bond issurance this year.

78
00:04:39,279 --> 00:04:42,159
Speaker 7: It's unclear how much is left available for these home

79
00:04:42,200 --> 00:04:46,680
Speaker 7: purchases if the plan is approved. Economists say this new

80
00:04:46,680 --> 00:04:49,880
Speaker 7: funding channel might still face the same hurdles that China

81
00:04:49,920 --> 00:04:53,200
Speaker 7: has been facing in its past rescue attempts. That's partly

82
00:04:53,279 --> 00:04:57,000
Speaker 7: because the expected return from turning unsold homes into affordable

83
00:04:57,040 --> 00:05:00,560
Speaker 7: housing has stayed below the cost of funding in Hong Kong.

84
00:05:00,560 --> 00:05:02,039
Speaker 7: I'm Bonnie al Bloomberg Radio.

85
00:05:02,320 --> 00:05:04,680
Speaker 1: A federal judge in the United States has ruled that

86
00:05:04,720 --> 00:05:07,920
Speaker 1: the FTC cannot enforce a near total ban on non

87
00:05:07,960 --> 00:05:11,240
Speaker 1: compete agreements. The story from Bloomberg's Charlie Pellett.

88
00:05:11,800 --> 00:05:14,760
Speaker 4: US District Judge Ada Brown in Dallas sided with the

89
00:05:14,880 --> 00:05:18,400
Speaker 4: US Chamber of Commerce and a Texas based tax firm

90
00:05:18,680 --> 00:05:21,800
Speaker 4: that sued to block the rule. The judge said the

91
00:05:21,839 --> 00:05:26,560
Speaker 4: FDC's rule is quote unreasonably overbroad without a reasonable explanation.

92
00:05:27,080 --> 00:05:30,400
Speaker 4: Brown had previously delayed implementation of the ban, which was

93
00:05:30,440 --> 00:05:33,839
Speaker 4: scheduled to take effect on September fourth. The ruling is

94
00:05:33,920 --> 00:05:37,200
Speaker 4: the judge's final word on the case. The FTC could

95
00:05:37,240 --> 00:05:40,000
Speaker 4: appeal the decision to the Fifth US Circuit Court of

96
00:05:40,040 --> 00:05:44,479
Speaker 4: Appeals in New Orleans in New York. Charlie Pellett Bloomberg Radio.

97
00:05:45,279 --> 00:05:48,000
Speaker 1: That's news when you want it. With Bloomberg News Now,

98
00:05:48,279 --> 00:05:50,000
Speaker 1: I Brayon Curtis, this is Bloomberg