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Speaker 1: Bloomberg Audio Studios, Podcasts, radio news. This is the Bloomberg Debake,

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Speaker 1: your podcast, available every morning on Apple, Spotify or wherever

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Speaker 1: you listen. It's Thursday, the twenty fourth of October here

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Speaker 1: in London. I'm Caroline Hepka and.

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Speaker 2: I'm Stephen Carroll. Coming up today, Kamala Harris and Donald

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Speaker 2: Trump step up their rhetoric, accusing each other of being

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Speaker 2: threats to democracy as Bloomberg's latest polls show them tied

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Speaker 2: in key swing states.

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Speaker 1: Tesla's shares jump as the electric carmaker reports big profits

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Speaker 1: and bigger growth ambitions.

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Speaker 2: Plus club together. The UK government beefs up plans for

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Speaker 2: a football regulator, with the Premier League complaining it's being

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Speaker 2: treated like a bank.

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Speaker 1: Let's start with a round up of our top stories.

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Speaker 2: Kamala Harris has labeled her presidential rival Donald Trump a fascist.

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Speaker 2: The comments underline the high stakes in the coming election,

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Speaker 2: with both candidates labeling the other a threat to democracy.

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Speaker 2: The Democratic Vice President was asked by CNN's Anderson Cooper

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Speaker 2: about press reports that Trump had repeatedly suggested Adolf Hitler

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Speaker 2: did some good things.

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Speaker 3: It is close, but there are undecided voters who clearly

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Speaker 3: by being here, have an open mind, want to talk

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Speaker 3: in a way that is about grounded in issues in fact,

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Speaker 3: and when they hear these facts, I think it compels

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Speaker 3: a lot of people to be concerned about the future

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Speaker 3: of our country with Donald Trump at the lead.

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Speaker 4: You've quoted General Millie calling Donald Trump a fascist, You

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Speaker 4: yourself have not used that word to describe him. Let

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Speaker 4: me ask you tonight, do you think Donald Trump is

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Speaker 4: a fascist?

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Speaker 5: Yes? I do, Yes, I do.

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Speaker 2: Donald Trump responded online to those comments from Harris, saying

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Speaker 2: she has a warped mind and is a threat to democracy.

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Speaker 2: At Bloomberg News, Morning Consult poll puts Harris and Trump

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Speaker 2: neck and neck in all key seven swing states, with

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Speaker 2: only a one percent margin of error.

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Speaker 1: German finance Minister Christian Liddner has warned Donald Trump against

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Speaker 1: starting a trade war with the EU. Speaking to Bloomberg,

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Speaker 1: the leader of the pro business Free Democrats called instead

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Speaker 1: for transatlantic solidarity to stand up to China.

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Speaker 6: There won't be success for anyone out of a trade

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Speaker 6: controverse between the US and European Union. It is not

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Speaker 6: in the interest of the US to follow protectionism. We

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Speaker 6: have to deal together with People's Republic of.

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Speaker 1: China, Christian Littner speaking there. His comments reflect widespread concern

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Speaker 1: in Europe after Donald Trump vow to inflict harsh tariffs

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Speaker 1: on the region if elected president. In November, Linda is

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Speaker 1: a meeting with investors in New York and visited the

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Speaker 1: United Nations headquarters. His next stop is Washington to join

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Speaker 1: the annual meetings of the RMF and World Bank.

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Speaker 2: Tesla has posted its best quote results in more than

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Speaker 2: a year, as its cyber truck sales turned to profit

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Speaker 2: for the first time. The ev makers adjusted net income

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Speaker 2: for the third quarter arose by eight percent from a

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Speaker 2: year ago to two point five billion dollars, beating the

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Speaker 2: two point one billion dollar estimate. On the earnings call,

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Speaker 2: CEO Elon Musk promised to make Tesla the most valuable

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Speaker 2: company in the world, starting with its vehicle sales targets.

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Speaker 7: I do want to give some some rough estimate, which

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Speaker 7: I think twenty to thirty percent vehicle growth next year,

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Speaker 7: you know, notwithstanding negative excenal events.

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Speaker 2: The billionaire also use the earnings call for his only

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Speaker 2: publicly traded company to tout what he would do with

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Speaker 2: a potential job and the Trump administration should the former

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Speaker 2: president get back into the white house. Tesla shares sored

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Speaker 2: by twelve percent in post market trading in New York,

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Speaker 2: potentially araising much of the fourteen percent decline the stock

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Speaker 2: has seen so far this year.

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Speaker 1: Boeing factory workers have rejected a new labor contract that

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Speaker 1: would increase pay by thirty five percent over four years.

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Speaker 1: Workers have been angered by pultry wage increases over the

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Speaker 1: past decade, and specifically the failure to reinstate their defined

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Speaker 1: benefit pension plan. Boeing's new CEO, Kelly Ordsberg, who gave

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Speaker 1: his first public presentation ahead of the vote, laid out

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Speaker 1: a blund assessment of what must change at Boeing for

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Speaker 1: the company to move forward, including ending the strike.

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Speaker 8: Bowing is an airplane company, and at the right time

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Speaker 8: in the future, we need to develop a new airplane,

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Speaker 8: but we have a lot of work to do before then.

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Speaker 8: This includes stabilizing our business, improving execution on the development programs,

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Speaker 8: streamlining the portfolio to do what we do well, and

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Speaker 8: restoring the balance sheets so that we do have a

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Speaker 8: path to the next commercial aircraft.

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Speaker 1: That was Boeing's new CEO. The strike has derailed the

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Speaker 1: plane maker's financial recovery and is said to be costing

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Speaker 1: it about one hundred million dollar a day in lost revenue.

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Speaker 1: Boeing's shares have lost about forty percent of their value

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Speaker 1: this year. The vote means Boeing and the Union will

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Speaker 1: head back to the negotiating table.

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Speaker 2: Andrew Bailey says inflation is cooling faster than officials expected,

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Speaker 2: but speaking during an event in Washington on Wednesday, the

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Speaker 2: Bank of England governor also expressed concerns about the structural

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Speaker 2: changes in the economy and called for increased investment. The

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Speaker 2: comments are the latest from the central bank chief to

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Speaker 2: suggest that the BOE will continue to lower interest rates

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Speaker 2: at its next policy meeting on the seventh of November.

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Speaker 1: Keirs Starmer says that there is no reason for entrepreneurs

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Speaker 1: to leave Britain. The Prime Minister's comments to report his

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Speaker 1: traveling with him to a summit come as wealthy individuals

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Speaker 1: raise concerns about proposals to increase taxes in next week's budget.

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Speaker 1: Leslie McLeod miller, the CEO of the Lobby Group Foreign

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Speaker 1: Investors for Britain, has told Bloomberg that the plans will

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Speaker 1: lead to a mass exodus.

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Speaker 4: If you are a foreign investor and you have inherent

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Speaker 4: you have generational wealth in some where like India, and

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Speaker 4: you're asked to pay inherited text because you've brought up

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Speaker 4: your children here, Why would you do that? You won't

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Speaker 4: do it. People who have been here for many years

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Speaker 4: and bringing up their children want to stay in this country,

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Speaker 4: but also want to pay a fear rate of tax.

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Speaker 1: Leslie McLoud Miller. They're speaking to Bloomberg Radio. Chancellor Rachel

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Speaker 1: Reeves is seeking to raise some forty billion pounds for

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Speaker 1: the economy and is reportedly considering changes to inheritance, property

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Speaker 1: and capital gains taxes. In a moment, will bring you

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Speaker 1: more on our latest US election poll of key swing states,

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Speaker 1: plus details of Tesla's earnings that have added eighty billion

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Speaker 1: dollars to the carmaker's market value. But first, another story

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Speaker 1: is caught our I. This is about the plan to

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Speaker 1: beef up a new football regulator here in the UK.

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Speaker 1: Our colleague David Hellier and Ellen Milligan have been writing

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Speaker 1: about the story this morning.

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Speaker 2: Yeah, this is a plan that Labor inherited from the

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Speaker 2: previous Conservative administration and they've added more powers to the

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Speaker 2: plans for this football regulator, in particular giving it powers

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Speaker 2: to decide how the Premier League will distribute money to

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Speaker 2: smaller clubs and lower divisions. We've had some of these

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Speaker 2: really historic clubs going Boston the UK and facing huge

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Speaker 2: financial difficulty. So the current system allows the Premier League

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Speaker 2: to distribute a large part of the money to parachute

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Speaker 2: payments for clubs that fall out of the Premier League

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Speaker 2: down to some of the lower divisions. Thinking is, that's

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Speaker 2: potentially not fair and giving those clubs an unfair advantage.

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Speaker 2: So a regulator would be able to step in onto

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Speaker 2: these plans with a final decision on how much the

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Speaker 2: Premier League distributes to smaller clubs if it can't come

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Speaker 2: to an agreement itself with the English Football League, which

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Speaker 2: governs the seventy two clubs that are below the top tier.

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Speaker 2: Premier League isn't happy about.

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Speaker 1: This, No, they aren't. It's extraordinary though, because the Premier

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Speaker 1: League clubs obviously make such an enormous amount of money,

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Speaker 1: and yet the spending on players and so on means

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Speaker 1: that they are often in this kind of precarious situation.

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Speaker 1: And certainly the clubs that are lower down the league

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Speaker 1: and the other divisions, they are under pressure and this

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Speaker 1: parachute payments. You mentioned, it incentivizes the others to spend

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Speaker 1: a lot. Maybe they can't afford to do that, but

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Speaker 1: it's Yeah. The labor government though, interestingly, has made quite

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Speaker 1: a lot of changes to this bill that as you'd expect,

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Speaker 1: you know, for football loving Britain.

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Speaker 2: Football loving prime minister.

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Speaker 1: Yes, but ballowing from it is a very controversial bill,

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Speaker 1: so we'll keep you an on that story.

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Speaker 2: Well, let's turn to the latest in the US election campaign,

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Speaker 2: now less than two weeks to go, the latest Bloomberg

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Speaker 2: News Morning Consult poll showing the two candidates statistically tied

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Speaker 2: in each of the seven key battleground states. This as

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Speaker 2: Kamala Harris used this televised town hall event to points

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Speaker 2: the differences between herself and her rival Donald Trump, labeling

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Speaker 2: him a fascist. Let's bring in our EMA News director

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Speaker 2: Raslind Matheson for more on this. Rose. Let's start with

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Speaker 2: the polling, then take us through the details. How close

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Speaker 2: is the race looking, Well, as you.

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Speaker 9: Were saying, it's incredibly close. It's statistically tied forty nine

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Speaker 9: percent before each amongst likely voters. In the margin of error,

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Speaker 9: of course, that is one percentage point, which just points

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Speaker 9: again to a race that anyone's to win. But also

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Speaker 9: the challenge at this point is what's going to move

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Speaker 9: the needle for either Donald Trump or Kamala Harris? How

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Speaker 9: do you get ahead of your competitor. How do you

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Speaker 9: mobilize voters to come out? You know, what kinds of

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Speaker 9: thing can you talk about can you do at this point,

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Speaker 9: ten days before the US election to get any change?

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Speaker 9: You know, And they're kind of leaning in a bit

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Speaker 9: on some of the things that they've been talking about.

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Speaker 9: I mean, Harris is seen in this poll, as you

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Speaker 9: were noting, she's seen as mentally fit, She's in.

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Speaker 5: This honest and compassionate.

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Speaker 9: Donald Trump is seen as dangerous by some people, but

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Speaker 9: also sin as having some strengths of his own, particularly

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Speaker 9: being a strong leader, and most importantly, he's seen as

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Speaker 9: more capable on the economy. And that's really where in

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Speaker 9: the end, and you're going to see voters come out

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Speaker 9: on the day primarily is on election or is it

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Speaker 9: on the economy and economic policy? And so with it

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Speaker 9: so very tight, you know, is it just going to

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Speaker 9: be them talking about economic policy that's going to move

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Speaker 9: the needle. It's very hard to see what can shift

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Speaker 9: daylight here.

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Speaker 1: The CNN town hall in Pennsylvania. It was a big

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Speaker 1: moment for Harris. She accused Trump of being a fascist.

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Speaker 1: How effective do you think that sort of language is

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Speaker 1: going to be?

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Speaker 9: Well, she is really honing in on this suggestion that

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Speaker 9: Donald Trump is unstable and not fit to serve, So

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Speaker 9: not just talking about her policies on the economy, economy,

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Speaker 9: say all, migration, but about Trump as a candidate himself,

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Speaker 9: saying as she said that he's a fascist.

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Speaker 5: That comes after the former White House Chief of Stuff.

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Speaker 9: John Kelly, in an interview, said that Trump was basically

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Speaker 9: a fascist.

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Speaker 5: It's a bit of a risky strategy in a way.

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Speaker 9: It reflects again how close those polls are, because you're

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Speaker 9: not going to convince your loyal voters any further they

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Speaker 9: think what they think already about Trump and will it

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Speaker 9: really pull over those undecided voters?

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Speaker 5: And interestingly, Harris.

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Speaker 9: Have been talking about staying above the fray even as

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Speaker 9: Donald Trump has mounted some very personal and often quite

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Speaker 9: vicious attacks on her. So it's unclear how much this

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Speaker 9: might benefit her at this point. She's obviously also joining

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Speaker 9: comparisons now to Donald Trump about his age, his mental

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Speaker 9: fitness to do the job. But given that this poll

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Speaker 9: shows that he's seen has been quite strong again on

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Speaker 9: the economy and certainly is a strong leader when he

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Speaker 9: was in power the first time around, it's unclear to

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Speaker 9: me how much this strategy is going to achieve anything.

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Speaker 2: Yeah, and indeed Donald Trump's response saying that Kamala Harris

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Speaker 2: is a threat to democracy and not fit to be

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Speaker 2: president either. And what else did we learn from this townhole?

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Speaker 2: Was there any more detail on policy from Karmala Harris?

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Speaker 5: There were some.

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Speaker 9: Questions about economic policy and mostly again around the cost

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Speaker 9: of living. So Kamala Harris has talked about raising the

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Speaker 9: minimum wage essentially at doubling at stopping taxes on tips,

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Speaker 9: as has Donald Trump. But she also talked in the

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Speaker 9: town hall about cracking down on grocery price gouging. And

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Speaker 9: she argued that Trump's propensity for tariffs, of course he

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Speaker 9: has called them beautiful things, would only lead to inflation.

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Speaker 9: But she was also a little bit wooly in a way.

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Speaker 9: She was pressed on what bill she'd focus on with Congress.

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Speaker 9: She wouldn't say. There's a narrative that she's been a

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Speaker 9: bit coy about some of her policies dances and deliberately

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Speaker 9: so not to pen herself in before she would to

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Speaker 9: take office and to limit the scope for attacks on her.

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Speaker 9: But the downside is that risks her looking a little

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Speaker 9: vague and clear at this point, you know, given again

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Speaker 9: that the concept pole, the Bloomberg concept pole, it's just

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Speaker 9: out the voters. You know, specifics around economic policy at

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Speaker 9: this point are key.

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Speaker 1: Okay, Roles, thank you so much for being with us.

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Speaker 1: That is been's EMEA News director Roslyn Matheson.

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Speaker 2: Well shares some Tasla's sword and after I was trading

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Speaker 2: on Wall Street. After the electric carmaker reports learnings that

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Speaker 2: beat expectations, Elon Musk promising a twenty to thirty percent

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Speaker 2: increase in deliveries next year is he says he wants

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Speaker 2: to make tasks of the most valuable company in the world, Bloomberg.

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Speaker 2: Katrina Necklace joins us. Now for more on this, Katrina,

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Speaker 2: talk us through than what impressed investors in these results.

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Speaker 10: Yeah, well, look, this was a really blowout quarter for

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Speaker 10: the electric car maker. It's most profitable results in more

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Speaker 10: than a year. The third quarter earnings that we saw

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Speaker 10: were buoyed by its sales of the cybertruct which actually

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Speaker 10: turned a profit for the first time, Tesla's energy storage business,

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Speaker 10: which is going very well, and a spike in regular

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Speaker 10: regulatory tax credits, which are these things that you know,

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Speaker 10: Tisler sells to other automakers so they can meet their

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Speaker 10: emissions rules. Adjusted earnings came in at seventy two censor

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Speaker 10: share that was certainly more than average analysts were expecting.

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Speaker 10: And the automotive gross margin, which is an important thing

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Speaker 10: to look at when you're looking at any car maker,

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Speaker 10: came in at seventeen point one percent. That was up

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Speaker 10: quite sharply on the fourteen point six percent in the

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Speaker 10: pre quarter. And you know, I think I think expectations

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Speaker 10: are quite low heading into this set of numbers, as

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Speaker 10: we've had four consecutive bottom line misses and a recent

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Speaker 10: Robotaxi day that sort of left investors quite underwhelmed and

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Speaker 10: with more questions and answers. But it does seem that

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Speaker 10: Musk has really seemed to, you know, have left quite

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Speaker 10: the impression with this set of numbers.

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Speaker 1: Yeah, absolutely, making some big promises on the earning school Musk. Also,

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Speaker 1: they did talk about his role in a Trump White House,

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Speaker 1: so the v's calls obviously are pretty interesting to hear

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Speaker 1: what Mosque says. What was he mentioning?

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Speaker 10: Yeah, well, you know, and also it's important to remember

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Speaker 10: that Musk has directed about seventy five million dollars to

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Speaker 10: the Trump cantaign campaign. Rather, the billionaire has used the

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Speaker 10: earningschooll you know, to tout for what he would do

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Speaker 10: for a potential job in the Trump administration should the

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Speaker 10: former president actually get back to the White House. He

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Speaker 10: didn't actually mention Trump by name, but he cited a

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Speaker 10: Department of Government efficiency role that the Republican presidential candidate

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Speaker 10: has begun floating for Musk after you know that those

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Speaker 10: many millions that he has directed to his campaign, and

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Speaker 10: if appointed, you know, must said he would create a

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Speaker 10: sort of pathway for federal approval of autonomous vehicles instead

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Speaker 10: of the somewhat patchwork network that exists for state regulations currently,

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Speaker 10: instead of having the green light for autonomous vehicles is

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Speaker 10: something that is very important for Tesla as a company.

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Speaker 10: You know, Musk has in the past he sees autonomy

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Speaker 10: as one of the most important things for Tesla, over

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Speaker 10: and above just making cars.

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Speaker 2: Really, this is Bloomberg Daybreak Europe, your morning brief on

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Speaker 2: the stories making news from London to Wall Street and beyond.

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Speaker 1: I'm Caroline Hipka and.

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