Speaker 1: Good morning.
Speaker 2: I'm Nathan Hager and I'm Amy Morris. Here are the
Speaker 2: stories we're following today.
Speaker 3: We begin this morning with earnings for an entertainment giant.
Speaker 3: We're watching shares of Disney this morning. They're hired by
Speaker 3: about one percent in early trading. Cost cuts and the
Speaker 3: Hollywood strikes are boosting Disney's bottom line, and the company
Speaker 3: expects content spending to be about three billion dollars less
Speaker 3: than usual. Disney's also boosting the price of its premium
Speaker 3: subscription for streaming by twenty seven percent. Geeta Ronganathan covers
Speaker 3: Disney for Bloomberg Intelligence.
Speaker 4: They have pricing power and they're going to exercise it.
Speaker 4: And this is what it's really coming down to now
Speaker 4: in the streaming wars, the subscriber hyper focus is over
Speaker 4: and done with. Now it's all about our pool growing
Speaker 4: revenue per user, and that's exactly what Disney is doing.
Speaker 4: This should pad not only the top line, but also
Speaker 4: the bottom line.
Speaker 3: Geita Ronganathan with Bloomberg Intelligence notes it's the second price
Speaker 3: increase for Disney plus in less than a year.
Speaker 2: Well, we see Disney shares on the rise. Today's big
Speaker 2: market moving event will likely be the latest reading on inflation,
Speaker 2: We get the consumer price index for July at eight
Speaker 2: thirty am Wall Street time, and economists anticipate a tame
Speaker 2: reading and increase of just two tenths of a percent.
Speaker 2: Bloomberg's Michael McKee has details.
Speaker 5: This may be the least important, most important economic indicator
Speaker 5: in a long time. It's important because, of course, the
Speaker 5: level of interest rates going forward will depend on whether
Speaker 5: inflation is coming down. FED officials have suggested one more
Speaker 5: rate increase going forward, but they also say they are
Speaker 5: data dependent. The data suggests a decent progress report. Slowing
Speaker 5: housing inflation will be the main driver of that. Used car,
Speaker 5: travel and apparel price gains have also slowed, while energy
Speaker 5: prices are up. Will it matter not a lot. FED
Speaker 5: officials have two more inflation reports to see before their
Speaker 5: next meeting. These data will be interesting, but not definitive.
Speaker 5: Michael McKee, Bloomberg Daybreak.
Speaker 3: Okay, Mike, thanks, turning away from marks now, we have
Speaker 3: breaking news out of South America. A state of emergency
Speaker 3: has been declared in Ecuador after the assassination of a
Speaker 3: presidential candidate. The country's current president is calling the killing
Speaker 3: of Fernando Via Vissentsio an assault on democracy. Bloomberg Stefan
Speaker 3: Kufner has more from Ecuador's capital, Quito.
Speaker 6: He was someone who was known nationally kind of the
Speaker 6: Navamni of Ecuador, who uncovered a lot of corruption in
Speaker 6: previous administrations, and he who was threatened by alleged drug
Speaker 6: traffickers during the campaign trail.
Speaker 3: Bloomberg Stephan Kufner says Via Vesensio was running second in
Speaker 3: the polls and could have qualified for a runoff election.
Speaker 3: Ecuador is now under a sixty day state of emergency
Speaker 3: and the country's presidential vote is still set for ten
Speaker 3: days from now.
Speaker 2: Another major story we're following this morning brings us to Hawaii,
Speaker 2: devastating wildfires on the west side of Maui, claiming at
Speaker 2: least three dozen lives so far. We get that story
Speaker 2: from Bloomberg's Ed Baxter.
Speaker 7: Lahaina Town was Hawaii's for first capital. It turned into
Speaker 7: a place natives and tourists loved to visit. Helicopter pilot
Speaker 7: Richard Olston says it has gone.
Speaker 2: It looked like.
Speaker 8: An area that had been bombed in a war.
Speaker 7: Owners of businesses on Front Street shutting down their websites,
Speaker 7: out of business power will be a problem for days.
Speaker 7: Resorts are telling people the reservations up to two weeks
Speaker 7: out to cancel. Lieutenant Governor Sylvia Lukes as a process
Speaker 7: is going to take a long time.
Speaker 4: It's going to take weeks and maybe months to assess
Speaker 4: the food damage.
Speaker 7: She says. Aloha is being shown though in relief efforts
Speaker 7: of the island's Ohana family in San Francisco. I'm at
Speaker 7: Baxter Bloomberg Daybreak.
Speaker 1: All right, thanks for that.
Speaker 6: ED.
Speaker 3: Tensions between Washington and Beijing are also in focus this morning.
Speaker 3: The White House has officially announced limits on US investments
Speaker 3: in China. Dan Flatley has more from our Bloomberg ninety
Speaker 3: nine one newsroom in Washington.
Speaker 9: Biden signed an executive order which gives a year for
Speaker 9: industry to weigh in on how these restrictions will actually work.
Speaker 9: But the intent is to restrict the knowledge that comes
Speaker 9: with venture capital and private equity investment into sensitive areas
Speaker 9: of the Chinese economy, including advanced semiconductors, microelectronics, quantum computing
Speaker 9: which think code breaking, and potentially artificial intelligence.
Speaker 3: Bloomberg. Dan Flatley reports the order won't go into effect.
Speaker 2: Until next year, and it won't be retroactive presidential politics.
Speaker 2: Also in focus this morning, Donald Trump says he's still
Speaker 2: unsure if he'll participate in the first GOP debate. The
Speaker 2: former president also tells newsmax he will not sign a
Speaker 2: required pledge to support the Republican nominee.
Speaker 10: Why would I sign a pleasure of people on there
Speaker 10: that I wouldn't have. I wouldn't have certain people, as
Speaker 10: you know, somebody that I'd endorse. So they want you
Speaker 10: to sign a pledge. But I can name three or
Speaker 10: four people that I wouldn't support for president.
Speaker 2: The former president currently enjoys a wide lead over the
Speaker 2: rest of the field. The first GOP debate is set
Speaker 2: for August twenty third in Milwaukee.
Speaker 3: Turning for politics to space, we're learning Richard Branson's Virgin
Speaker 3: Galactic is poised to launch its first private space tourists today.
Speaker 3: The journey allows Virgin Galactic to begin clearing a backlog
Speaker 3: of ticket holders waiting for rides to space. Virgin Galactic's
Speaker 3: main competition comes from Blue Origin, the commercial space company
Speaker 3: founded by Jeff Bezos.
Speaker 2: New numbers this morning paint a bleak picture of diversity
Speaker 2: in corporate America. The number of black people appointed as
Speaker 2: company directors has fallen dramatically. Fifteen percent of board members
Speaker 2: appointed this year at S and P five hundred companies
Speaker 2: were black. That's down from twenty six percent the year before.
Speaker 2: According to executive recruiter Spencer Stewart, the number of black
Speaker 2: directors rose in the wake of the murder of George Floyd,
Speaker 2: but now it's fallen back too roughly where it was
Speaker 2: five years ago. Time now for a look at some
Speaker 2: of the other stories making news around the world. For that,
Speaker 2: we're joined by Bloomberg's John Tucker.
Speaker 8: Good morning, John.
Speaker 11: Hey, Good morning Amy. An armed Utah man accused of
Speaker 11: making violent thrats again President Joe Biden was shot and
Speaker 11: killed by FBI agents hours before the president landed in
Speaker 11: that state. As Good Moore in this report from Bloomberg'sjeff Bellinger.
Speaker 8: Special agents were trying to serve a warrant on the
Speaker 8: home of Craig Robertson in Provo, south of Salt Lake
Speaker 8: City when the shooting happened. Robertson posted online Monday that
Speaker 8: he had heard President Biden was coming to Utah and
Speaker 8: he was planning to dig out a camouflage suit and
Speaker 8: begin cleaning the dust off the M twenty four sniper rifle.
Speaker 8: Robertson referred to himself as a mega Trumper. He had
Speaker 8: also posted threats against top law enforcement officials overseeing court
Speaker 8: cases against Trump. The President flew to Utah yesterday ahead
Speaker 8: of a visit to a veteran's affairs hospital in Salt
Speaker 8: Lake City. Jeff Bellinger, Bloomberg Radio.
Speaker 11: At a time of rising tensions, China has lifted a
Speaker 11: ban on group tours to a slew of countries, including
Speaker 11: the US. Group tours will start immediately. Theasing applies to
Speaker 11: all travel agencies and online platforms across that country. The
Speaker 11: relaxation may set the stage for an acceleration of the
Speaker 11: global tourism industries rebound from COVID. The top state prosecutor
Speaker 11: in Orlando, Florida, who was elected to her position, remains
Speaker 11: defiant and to being suspended by Governor Ron De Santis.
Speaker 2: This is an outrage.
Speaker 11: DeSantis removed Monique Warrel for what he calls neglect of duty.
Speaker 11: She faced criticism this week after two police officers were
Speaker 11: shot allegedly by a man with a long criminal history
Speaker 11: who've been released on bond. Guarrel is the second Democratic
Speaker 11: state attorney removed by DeSantis and the US National Security
Speaker 11: Council says Guatemala's lawlessness is fueling waves of desperate immigrants,
Speaker 11: but many of the guns in Guatemala are being legally
Speaker 11: imported from the US. American gun makers have been the
Speaker 11: leading supplier firearms to Guatemala for years, but following a
Speaker 11: regulatory change in twenty twenty, shipments at more than doubled.
Speaker 11: And he helped shape the sound of the nineteen seventies
Speaker 11: with a group simply known as The Band. Robbie Robertson,
Speaker 11: the songwriter and lead guitarist to the band, has died.
Speaker 11: He was eighty years old. Global News twenty four hours
Speaker 11: a day, power by more than twenty seven hundred journalist
Speaker 11: and analysts in more than one hundred and twenty countries.
Speaker 11: I'm John Tucker. This is Bloomberg. Amy.
Speaker 2: All right, thank you, John. Time now for our Bloomberg
Speaker 2: Sports update. For that, we bring in John's Dash hour Amy.
Speaker 12: The Phillies made a trade just before the deadline to
Speaker 12: acquire thirty one year old pitcher Michael Lorenzen from Detroit.
Speaker 12: He had been the Tigers All Star representative. Last night
Speaker 12: in Philly, crowd of thirty thousand He made just his
Speaker 12: second start with his new team, his first at home.
Speaker 13: Three to two pitch, swinging a high fly ball center field,
Speaker 13: coming in his Rojas, He's calling, he has got it.
Speaker 13: Lorenzen leaps into the arms of real new two and
Speaker 13: the Phillies pile out of the dugout in front of
Speaker 13: the man. They celebrate a no hitter tonight by Mike
Speaker 13: in his second start as a Philly.
Speaker 12: If do Ipy had the call, it was seven nothing
Speaker 12: over Washington, the fourth no hitter thrown in baseball this season,
Speaker 12: the fourteenth in Phillies history, the first ins Cole handles
Speaker 12: in twenty fifteen. Lorenzen wopped for struck out five one
Speaker 12: hundred and twenty four pitches, which is the most thrown
Speaker 12: in a Major League game this season. The Red Sox
Speaker 12: at Fenway top the Royals four to three. The Orioles
Speaker 12: at Camden Yards lost to the Astros eight to two,
Speaker 12: a rare win for the Age to nothing over Texas,
Speaker 12: and Shohey Otani pitched the Angels to a four to
Speaker 12: one win over the Giants in Memphis. Today, they'll tee
Speaker 12: off for the Saint June Classic, which starts the FedEx
Speaker 12: Cup playoffs. Rory McElroy won those playoffs last year and
Speaker 12: he's in third place going in this year. And McElroy
Speaker 12: has finished in the top ten in each of his
Speaker 12: last seven tournaments. John Rohm currently a top the standings.
Speaker 12: The winner gets two thousand FedEx Cup points. Johns Stash
Speaker 12: Edward Bloomberg Sports.
Speaker 14: From coast to coast, from New York, Francisco, Boston to Washington, DC,
Speaker 14: nationwide on Syria's exam the Bloomberg Business Appen Bloomberg dot Com.
Speaker 14: This is Bloomberg Daybreak.
Speaker 8: Good morning, I'm Nathan Hagar.
Speaker 3: The South American nation of Ecuador is under a state
Speaker 3: of emergency this morning. An upcoming presidential election has been
Speaker 3: thrown into some doubt now with one of the leading
Speaker 3: candidates in the race, Fernando via Vissentsio, assassinated following a
Speaker 3: campaign rally last night. It is an act the outgoing
Speaker 3: president of Ecuador, Giomo Lasso, is calling an assault on
Speaker 3: his country's democracy. Bloomberg News Senior editor Bill Ferries is
Speaker 3: following the latest developments out of Ecuador and joins me, now,
Speaker 3: good to speak with you, Bill, Thanks for being with us.
Speaker 3: Can you just give us an update on what happened
Speaker 3: why Fernando via Vissensio may have been a target of
Speaker 3: assassins here well.
Speaker 15: Via Visensio has a long history as a journalist going
Speaker 15: after corruption in Ecuador, particularly during the two thousand and
Speaker 15: seven to sevenen era of President Raphael Coorea. He was
Speaker 15: often on the run hiding at that time. More recently,
Speaker 15: he was a member of the Congress and was now
Speaker 15: running for president. Had been very outspoken in his criticism
Speaker 15: of some of the big contracts awarded to natural resource companies,
Speaker 15: but also in particular, like all the candidates in this
Speaker 15: race in Ecuador, had been very focused on worsening crime
Speaker 15: in the country and had been going after or saying
Speaker 15: he would be going after some of the drug cartels
Speaker 15: that have increasingly used Ecuador's ports to export cocaine to
Speaker 15: the rest of the world. He said he had received
Speaker 15: threats during the campaign. He did have a security detail,
Speaker 15: but he had also refused to back down, saying that
Speaker 15: he would never try to reach a deal reach a
Speaker 15: deal with the cartels. We don't know who assassinated him.
Speaker 15: The details we have from the government are that he
Speaker 15: was shot and then a gun battle erupted between his
Speaker 15: security detail and the assassins. Six people have been arrested.
Speaker 15: One suspect died apparently from the wounds sustained, But we
Speaker 15: don't know yet any of the names of these people.
Speaker 15: We don't know who was behind it.
Speaker 3: It sounds as though stability in Ecuador has been in
Speaker 3: question for some time. Here emerging market investors might have
Speaker 3: a better idea of just what the situation is like
Speaker 3: in Ecuador right now. But can you describe for a
Speaker 3: broader audience what things are like in Ecuador right now,
Speaker 3: what the level of stability is in the country.
Speaker 15: Well, you got to remember Ecuador's sandwich between Peru and Colombia,
Speaker 15: and those are two countries that have historically had a
Speaker 15: lot of issues with violent crime drug related crime. They're
Speaker 15: the two biggest producers of cocaine in the world. Ecuador
Speaker 15: had a history of being a more peaceful place, although
Speaker 15: it has had its own share of political turmoil, that
Speaker 15: hadn't spilled off over into violence quite as much. But
Speaker 15: the last several years, violent crime has become increasingly endemic
Speaker 15: as some of the cartels based in the neighboring countries
Speaker 15: have moved to ship their products through Ecuador, and it's
Speaker 15: become just a bigger issue for the society in this
Speaker 15: presidential race. Of the eight candidates who were going into
Speaker 15: the August twentieth election, all of them were basically focused
Speaker 15: on the issue of how to deal with violence. And
Speaker 15: the real question now will be where do voters turn.
Speaker 15: With Via Vicencio no longer a part of this race,
Speaker 15: do they look to a more hardline candidate. How does
Speaker 15: the government in place try to address this. The president
Speaker 15: has said he's going to deploy the military across the
Speaker 15: country to try to ensure more safety, but it's not
Speaker 15: clear whether that kind of measure will really have a
Speaker 15: lot long term impact.
Speaker 13: Yeah.
Speaker 3: To say that something like this has an impact on
Speaker 3: a presidential races extreme understatement here in our last minute bill,
Speaker 3: How could a state of emergency, a sixty day state
Speaker 3: of emergency affect a presidential election that, as far as
Speaker 3: we know, is still scheduled for ten days from now.
Speaker 15: Yeah, I think it's very much going to be seen
Speaker 15: as a temporary measure. I think Ecuador is really quite
Speaker 15: a turning point here in terms of whether the cartels
Speaker 15: and organized crime gained the upper hand over the ability
Speaker 15: of the government to provide any security for its people.
Speaker 15: So I think the government's focus now is getting to
Speaker 15: that August twentieth date without any more major episodes of violence.
Speaker 15: This is not the first political attack even in recent
Speaker 15: weeks in Ecuadora, a mayor of the southern port city
Speaker 15: of Manta was recently killed. So the challenge is on
Speaker 15: for the government to try to just get to that
Speaker 15: August twentieth date, hand over to a new president and descent,
Speaker 15: and see if that new leader can can improve the
Speaker 15: country security situation.
Speaker 1: This is Bloomberg Daybreak Today, your morning brief on the
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