Speaker 1: Thanks. Karen's five oh seven on Wall Street. Were at
Speaker 1: sixty five degrees in Central Park and we've got the
Speaker 1: overnight construction starting to clear out and Van George Washington Bridge.
Speaker 1: We'll see how your rides looking shortly. First, John Tuckers
Speaker 1: here with what else is going on in New York
Speaker 1: and around the world. Good morning, John and Nathan. Governor
Speaker 1: Kathy Hokel has lifted the state's mass requirement for public transit,
Speaker 1: removing one of the last remaining government mandates of the
Speaker 1: COVID nineteen pandemic. Watching global trends, we're watching for variance,
Speaker 1: We're watching for any updates and vaccines. But we do
Speaker 1: believe that we're in a good place right now, especially
Speaker 1: if New Yorker's take advantage of this BOOSTERCOL making the
Speaker 1: announcement before receiving the omacron specific booster. Mass will still
Speaker 1: be mandatory and healthcare settings and at adult care facilities.
Speaker 1: Uber will begin rolling out yellow taxi riots in New
Speaker 1: York City. More in this report from Bloomberg's Jeff Bellinger.
Speaker 1: It's a long away to effort to help these a
Speaker 1: driver short of gen pressure on fairs, the Big Apple's
Speaker 1: iconic yellow cabs have started to appear on the ride
Speaker 1: hailing platform for a randomized majority of active New York
Speaker 1: City writers, allowing them to book trips and taxis through
Speaker 1: the Uber app. Under an agreement, Uber customers can hail
Speaker 1: a taxi at the same price as an Uber x,
Speaker 1: and they'll see the fair upfront before requesting a trip.
Speaker 1: Driver's earnings will initially be based on the City Taxi
Speaker 1: and Limousine Commission mandated rates, which are close to thirty
Speaker 1: two dollars an hour. Jeff Bellinger, Bloomberg Debrate Abortion remains
Speaker 1: legal in Michigan after a judge permanently blocked enforcement of
Speaker 1: a ninety one year old band that could have become
Speaker 1: law following the Supreme Court's decision to overturn Roe versus Wade.
Speaker 1: The band, which was opposed in a suffer lawsuit by
Speaker 1: Governor Gretchen Whitmer, was on hold after a temporary ruling.
Speaker 1: President Biden will host a call with allies today about
Speaker 1: the next steps in support of Ukraine against Russian invasion. Meantime,
Speaker 1: the Pentagon has sent Ukraine it's most accurate artillery shell,
Speaker 1: the GPS got an ex caliber as satellite gut it
Speaker 1: weapon it get hit within seven ft of its target.
Speaker 1: The ex caliber was first used in a rack in
Speaker 1: two thousand seven in the high profile killing of an
Speaker 1: al Qaeda leader, and California's power grid once again didn't
Speaker 1: break despite being stretched to the limit as a punishing
Speaker 1: heat wave continues to test the state's ability to keep
Speaker 1: the lights on well. Today promises to be another ten standoff,
Speaker 1: with the man forecast near a record high and the
Speaker 1: California Independent System Operator already declaring an emergency. Watch Global
Speaker 1: News twenty four hours a day on the air and
Speaker 1: on Bloomberg Quicktake. We're powered by more than seven hundred
Speaker 1: journalists and the analysts it more than one hundred twenty countries.
Speaker 1: I'm John Tucker. This is Bloomberg. Nathan. Thank you, John.
Speaker 1: Come into five ten on Wall Street time for the
Speaker 1: Bloomberg Sports Up. Tad, Good morning, John's good morning, Nathan.
Speaker 1: Let's play two Matts and Yankees both made up of
Speaker 1: rain out with double headers, and both had sweep with
Speaker 1: had their aces on the mound for the Nightcaps and
Speaker 1: provided them with plenty of offense. And that's not normally
Speaker 1: the case when Jacob deGrom pitches, but the Grama the
Speaker 1: Mets beat the Pirates tend to nothing after taking the
Speaker 1: opener five to one. Is a good news on the field,
Speaker 1: not as good offen as Max Schers. It was placed
Speaker 1: on the injured list with that eighty side at the stadium.
Speaker 1: Garrett Cole on the mountain for the second game and
Speaker 1: the Yanks meet the Twins seven to one Isaiah kinder
Speaker 1: Felefa with the grand Slam. The opener included yet another
Speaker 1: home run by you know who, swing on hit in
Speaker 1: there in a deep one. That fall is hot, that
Speaker 1: is far, that is god, It's amazing and I mean, man, absolutely,
Speaker 1: he's done it again. How does he do it? Tend
Speaker 1: Sterling w f a n is now fifty five home
Speaker 1: runs for Aaron Judge. The Yanks won five to four,
Speaker 1: scoring twice in the twelfth inning. And another incredibly late
Speaker 1: night slash early morning at the US Open. Forty eight
Speaker 1: hours after Carlos Alcarez won his fourth round match at
Speaker 1: two twenty three am, Alcarez was back finishing the quarterfinal
Speaker 1: victory over Unique Center at two fifty a m. The
Speaker 1: match went five hours, fifteen minutes, so he's into the
Speaker 1: semis to play Francis tiafo Is doing things no American
Speaker 1: man has done. Sinzani Roddick, Thiafo the first from the
Speaker 1: US to be a Grand Slam semifinalists two thousand nine,
Speaker 1: first to do it at the Open since oh six,
Speaker 1: and Tiafo is the first African American Men's Open semifinalists.
Speaker 1: Arthur nasked fifty years ago, they'll play the women's semifinals
Speaker 1: today in the NFL season picks off tonight in l A,
Speaker 1: Rams and pills. John Stashar Bloomberg Sports. All right, John,
Speaker 1: thank you. SMP futures right now down one point, DAL
Speaker 1: futures down ten nasty futures a little changed to the downside.
Speaker 1: The tenure treasury is up three thirty seconds, the yield
Speaker 1: three point to five percent. You're listening to Bloomberg Daybreak,
Speaker 1: Bloomberg eleven three oh. They're mostly sunny with a high
Speaker 1: near eighty. Today, will be in the low eighties with
Speaker 1: sunshine starting tomorrow and all weekend long. Actually right now
Speaker 1: at sixty five degrees in Central Park markets. Headlines and
Speaker 1: breaking news twenty four hours a day at Bloomberg dot Com,
Speaker 1: the Bloomberg Business out hand at Bloomberg. Victake, He's a
Speaker 1: Bloomberg business lash and I'm Karen Moscow. European stocks are
Speaker 1: pairing early gains. His investors brace for potential unprecedented monetary
Speaker 1: policy tightening by the region's central bank. Later today you
Speaker 1: are stock index futures. They are a little change just
Speaker 1: after the S and P five hundred and nasdak rows
Speaker 1: more than one percent. Yesterday we checked the markets every
Speaker 1: fifteen minutes throughout the trading day on bloomberges and P futures.
Speaker 1: Again little change, and so are down. Announce Dack futures.
Speaker 1: The Dacks in Germany's down a tenth of uppercent, while
Speaker 1: the cat in Paris is up to tenths of upper cent,
Speaker 1: and the foot Sea one hundred is up three tenths
Speaker 1: of uppercent, and your treasury up three thirty seconds. You
Speaker 1: have three point to five percent yield on the two
Speaker 1: year three point four or four percent. Nim Max Screwed
Speaker 1: oil is down four tenths of upper cent on thirty
Speaker 1: five cents at eighty one dollar fifty seven cents of
Speaker 1: barrel com scholled up tenth of a percent of a
Speaker 1: dollar ninety at seventy announced. The euro is at point
Speaker 1: in nine nine nine nine against the dollar, British found
Speaker 1: one point one nine two and the yen one point one.
Speaker 1: Bitcoin is down eight tens of a percent at nineteen thousand,
Speaker 1: two hundred thirty dollars. And as a Bloomberg business flash,
Speaker 1: now here's John Tucker with Moore on what's going on
Speaker 1: around the world. John and Karen Police and Memphis, Tennessee
Speaker 1: have arrested a nineteen year old after four people were killed,
Speaker 1: three others wounded, and a random shooting spree that was
Speaker 1: live streamed on Facebook. President Biden holding back on the
Speaker 1: decision to scrap a a Trump ra tariffs on China imports,
Speaker 1: and the Pentagonist sent Ukraine it's most accurate artillery shell.
Speaker 1: The satellite guided weapon can hit within several feet of
Speaker 1: a target. Sports Yankees beat the Twins and both games
Speaker 1: of a double header. MAT's also winners, beating the Pirates
Speaker 1: both games of their double header. The Eighties lost to
Speaker 1: the Braves, the Giants lost to the Dodgers, the Red
Speaker 1: Sox lost to the Rays, the Orioles lose to the
Speaker 1: Blue Jays, the Nationals lose to the Cardinals, and the
Speaker 1: NFL season kicks off tonight with the Bills heading to
Speaker 1: Los Angeles to take on the Super Bowl champion. Rams
Speaker 1: Global News twenty four hours day on air on Bloomberg
Speaker 1: Quick Take, more than twenty seven hundred journalists and analysts
Speaker 1: and more than countries. I'm John Tucker. This is Bloomberg.
Speaker 1: Nathan Okay, John, thank you. It's five nineteen on Wall
Speaker 1: Street Life from the Bloomberg Interactive Broker Studios. This is
Speaker 1: Bloomberg Daybreak. And speaking of Los Angeles, that is where
Speaker 1: the US is set to host the first gathering of
Speaker 1: Asian nations on an economic agreement that the White House
Speaker 1: hopes will be a counter to China's rising influence in
Speaker 1: the region. It seems there is no end two tensions
Speaker 1: between the US and China. So we want to bring
Speaker 1: in our first guest this morning, James Meager, China Economy
Speaker 1: editor for Bloomberg News, joining us live from our bureau
Speaker 1: in Beijing. Good morning, James. So what more do we
Speaker 1: know out this? What thirteen nation summit that's kicking off today?
Speaker 1: So this is you know, this is like an attempt
Speaker 1: by the Biden administration. I guess too. As you said
Speaker 1: in the introduction to count of the rising economic power
Speaker 1: of China, I mean all of the nations in Asia,
Speaker 1: especially the ones that are coming to this meeting. For them,
Speaker 1: China is the largest trading part of that they have,
Speaker 1: you know, it's by an increasing amount of goods from Australia,
Speaker 1: from South Korea, from Japan, from India, and uh. The
Speaker 1: the failure of the you know, the failure the decision
Speaker 1: about the Trump administration to to to pull out of
Speaker 1: the t p P has sort of left the U
Speaker 1: S trade policy and economic policy towards these nations a
Speaker 1: little bit adrift. So this is the attempt by the
Speaker 1: Biden administration to sort of bring that back on course
Speaker 1: and to try and you know, to increase economic connections
Speaker 1: between the countries of Asia and the US. It isn't
Speaker 1: really isn't really traditional trade negotiation. The then this is
Speaker 1: really this meeting that's happening in Los Angeles starting today
Speaker 1: is sort of an agreement to start talking the company.
Speaker 1: The countries are going to meet and they're gonna say like,
Speaker 1: these are the these are the big buckets of things
Speaker 1: we would like to do. Where can we cooperate, where
Speaker 1: can we not cooperate? And and some of those countries
Speaker 1: are not going to cooperate in all these areas. You know,
Speaker 1: these the areas where looking at trade, supply chains, decobanization,
Speaker 1: and then taxes in corruption. And one of the things
Speaker 1: that's different about this from a normal trade negotiation is
Speaker 1: that it's basically pick or choose, Like some countries may
Speaker 1: decide to just cooperate on trade, some countries may decide
Speaker 1: to cooperate on any corruption or tax you know, harmonization,
Speaker 1: that kind of thing. So it's you know, it's very
Speaker 1: much an ad hoc kind of process. And that part
Speaker 1: of the reason for that is that it's impossible to
Speaker 1: get a trade deal through through Congress. Um the Binding administration,
Speaker 1: the Trump administration before it, it has shown it's impossible
Speaker 1: for you know, the US Congress to vote or sorry,
Speaker 1: the US sender to vote to approve any kind of
Speaker 1: trade deal. And so the I guess the administration's effort
Speaker 1: is to know, have this kind of talk jop which
Speaker 1: doesn't need congressional approval. Yeah, so you've laid out some
Speaker 1: of the challenges there. But what is China's influence looking
Speaker 1: like right now? Given all the muscle flexing that's been
Speaker 1: going on really ever since how Speaker Nancy Pelosi came
Speaker 1: to Taiwan last month. I mean, I think China's muscle,
Speaker 1: at least on economic and trade goes back well before
Speaker 1: the recent tensions of Taiwan. If you look at, you know,
Speaker 1: the growth of the rise of China's economy over the
Speaker 1: last twenty years, it's going from being basically a minnow
Speaker 1: and global trade to becoming to being the world's largest
Speaker 1: trading country now. As I said, it's the largest trading
Speaker 1: partner from all of the countries that are that are
Speaker 1: that are represented in in Los Angeles today and tomorrow.
Speaker 1: Uh so the you know, it's the world second large
Speaker 1: of economy. It's a huge source of demand for many
Speaker 1: many countries in a while all the two sorts of imports,
Speaker 1: including for the US for many kinds of manufactured goods.
Speaker 1: So China's weight in the region is because it is
Speaker 1: such a massive economy and it is most to all
Speaker 1: of these countries. Obviously it's much closer to from Thailand
Speaker 1: or Australia or Japan to China than it is to
Speaker 1: the US, so you know, it has that economic heft,
Speaker 1: uh you know, and at the moment, I guess you
Speaker 1: could say that the US still has some areas in
Speaker 1: which is stronger than China in the region. It's still
Speaker 1: a much larger investor into many of these countries. You know,
Speaker 1: it's by far the largest investor into Australia, it's a Thailand,
Speaker 1: and into other countries in the region. But you know,
Speaker 1: the growth of trade between China and Asian countries, for example,
Speaker 1: is much much faster than the growth of trade between
Speaker 1: the US and those countries. China has been able to
Speaker 1: sit a sign free trade deals with all of those countries,
Speaker 1: and so the direction of trade is obviously going to
Speaker 1: be much more focused on trade between athel or trade
Speaker 1: became Asian nations and China more than it would be
Speaker 1: on the focused on trade between the US and those countries. So,
Speaker 1: you know, this agreement is an attempt by the Biden
Speaker 1: administration to try and shift that focus a little bit
Speaker 1: back to the US, you know, shifted away from the
Speaker 1: direction has been going over the past twenty years as
Speaker 1: China has as its economy has has grown. You know, well,
Speaker 1: it can be very interesting to watch whether this economic
Speaker 1: pressure and put to bear on China by the USh
Speaker 1: bears fruit given some of the h even further geopolitical
Speaker 1: military potential tensions that we've seen in recent weeks. James Meager,
Speaker 1: our China Economy editor for Bloomberg News, thanks for joining
Speaker 1: us this morning giving us more insights on this Indo
Speaker 1: Pacific Economic Framework for Prosperity conference kicking off today at
Speaker 1: two day conference UH said to begin in Los Angeles.
Speaker 1: Looking ahead to the market open futures are little changed
Speaker 1: to have an ECB decision this morning. You're listening to
Speaker 1: Bloomberg Daybreak Bloomberg eleven three oh weather. Sunshine today with
Speaker 1: a higher eighty degrees, will be sunny, low eighties Tomorrow
Speaker 1: and Saturday. We'll call it partly sunny Sunday, but still
Speaker 1: warm with highs in the low eighties. Right now sixty
Speaker 1: five in Central Park, broadcasting live from the Bloomberg Interacted
Speaker 1: Broker's studio in New York. Bloomberg E Living Freedom to Washington,
Speaker 1: d C. Bloomberg to Boston, Bloomberg one O six one
Speaker 1: to San Francisco, Bloomberg now sixty to the country, Sirius
Speaker 1: x M CHADO one nine team and around the globe,
Speaker 1: the Bloomberg Business at and Bloomberg Radio dot Com. This
Speaker 1: is Bloomberg Daybreak. It's five thirty on Wall Street good morning.
Speaker 1: I'm Nathan Hagar and I'm karenin Moscow. We're just about
Speaker 1: four hours away from the open of US trading. Let's
Speaker 1: get you up to date on the news you need
Speaker 1: to know at this hour. We begin overseas, where the
Speaker 1: European Central Bank calls its first monetary policy meeting since July.
Speaker 1: Economists expect the ECB to deliver a rate hike as
Speaker 1: high as seventy five basis points, but Bloomberg's Maria Todeo
Speaker 1: says it's still unclear exactly how high they'll go. When
Speaker 1: you look at the seventy five basis points camp, what
Speaker 1: they argue is there is a go now to hike,
Speaker 1: and you should do it quickly, decisively, and take swift action.
Speaker 1: This is now about the credibility of the institution. On
Speaker 1: the flip side, when you look at the fifty basis
Speaker 1: points at Camp here, what they argue is that you
Speaker 1: could find yourself in a situation where you're hiking aggressively
Speaker 1: at the same time your economy about to enter potentially
Speaker 1: a recession and facing an energy crisis. Bloomberg's Maria today
Speaker 1: O says, no matter how high the e c D goes,
Speaker 1: the Central Bank will definitely raise rates today. All back
Speaker 1: here in the US, Karen, We're watching for comments from
Speaker 1: Fed Chair j Powell. He has scheduled to take part
Speaker 1: in the moderated discussion hosted by the Cato Institute this morning.
Speaker 1: Stick with us for live coverage of the remarks starting
Speaker 1: around nine am All street time on Bloomberg Radio and television.
Speaker 1: Well overseas, Nathan, we have a big move in geopolitics.
Speaker 1: The US is warning about Chinese threats to Taiwan. National
Speaker 1: Security Adviser Jake Sullivan says he and congressional leaders are
Speaker 1: working to alter policy toward the island and light of
Speaker 1: threats from Beijing or elements of that legislation with respect
Speaker 1: to how we can strengthen our security assistance for Taiwan
Speaker 1: that are quite effective and robust that will improve Taiwan security.
Speaker 1: There are other elements that give us some concern and
Speaker 1: National Security Adviser Jake Sullivan made the comments on the
Speaker 1: David Rubinstein Show Peer to Peer Conversations. Get the program
Speaker 1: later this month on Bloomberg Television September twenty one, at
Speaker 1: nine pm Eastern. The U s is also taking him
Speaker 1: at China on the economic frontcare and the White House
Speaker 1: is hosting its first gathering of Asian nations over an
Speaker 1: economic agreement aimed to counter Beijing's rising influence in the region.
Speaker 1: Bloomberg Stephen Angel in Hong Kong says the agreement is
Speaker 1: not traditional. It's more focused on ways to build trade
Speaker 1: with these fourteen nations, to improve supply chains, to build
Speaker 1: clean energy initiative de carbonization as a main goal, and
Speaker 1: also the infrastructure to do that. Also deals with taxes
Speaker 1: and anti corrupted Bloomberg Stephen Angel says critics of the
Speaker 1: pack thing to too vague and want more details. And
Speaker 1: we're keeping an eye on the yen this morning. Nathan.
Speaker 1: It's a bid because swings overnight weaker than stronger, now
Speaker 1: weaker again. There are reports of officials in Japan are
Speaker 1: meeting for the first time since June to discuss the
Speaker 1: situation again. At one point oh seven against the dollar.
Speaker 1: And this is Bloomberg three on All Street, sixty five
Speaker 1: degrees in Central Park eastbound b Que's getting heavy into
Speaker 1: cabin Plaza. Will get to the details in traffic first
Speaker 1: John Tucker with what else is going on in New
Speaker 1: York and around the world. John and Nathan one of
Speaker 1: the last remaining government mandates of the pandemic has now
Speaker 1: been lifted. More this morning and this report from Bloomberg's
Speaker 1: Lisa Mateo, New York Governor Kathy Hokel has lifted the
Speaker 1: state's mask requirement for public transit. It comes after months
Speaker 1: of confusion among commuters by varying national, state, and local
Speaker 1: rules on where face coverings are required. The governor says
Speaker 1: COVID numbers are stable, putting the state in a good
Speaker 1: place now effective immediately. Masks will no longer be required
Speaker 1: for mass transit, correctional facilities, and shell There's mass mandates
Speaker 1: remain in effect at nursing homes as well as other
Speaker 1: health care facilities regulated by the state. Mass compliance on
Speaker 1: New York City subways, buses, and commuter trains had waned
Speaker 1: over the past few months. Lisa Mateo, Bloomberg Daybreak. Another
Speaker 1: mass shooting in Memphis. Four people were killed three others
Speaker 1: injured in a shooting spree that held the city hostage
Speaker 1: for hours last night. Police say nineteen year old Ezekiel
Speaker 1: Kelly drove around randomly shooting people while live streaming on Facebook.
Speaker 1: He was taken into custody. Court records show he had
Speaker 1: a previous first degrade murder charge, but pleaded down to
Speaker 1: aggravate an assault. He served just eleven months of a
Speaker 1: three year sentence. Memphis Mayor Jim Strickland was outraged and
Speaker 1: blamed a lenient judicial system because I'm tired of our
Speaker 1: police officers arresting the same people over and over and over,
Speaker 1: and those people committing violent acts. The shooting comes the
Speaker 1: same week Memphis police found the body of a missing teacher,
Speaker 1: Eliza Fletcher. The second suspect wanted in the standing rampage
Speaker 1: Agent Canada, has died. Miles Sanderson was taken into custody yesterday,
Speaker 1: but police say he went into medical distress shortly after
Speaker 1: and died. Myles and his brother Damien had been on
Speaker 1: the run in Saskatchewan since Sunday, accused of a stabbing
Speaker 1: spree that killed ten and left nineteen others injured. Damien
Speaker 1: was found dead in the field near these stabbing sites.
Speaker 1: On Monday. President Biden will hold a video call with
Speaker 1: allies today. The talks will focus on the next step
Speaker 1: to support Ukraine against Russia's invasion the Pentagon meantime and
Speaker 1: sent Ukraine It's most accurate artillery Shell the GPS guided
Speaker 1: ex Caliber, according to budget documents, and a judge has
Speaker 1: sharply criticized that Ela Moss were not properly turning over
Speaker 1: text messages that could be evidence in Twitter's lawsuit seeking
Speaker 1: to force the billionaire to complete his proposed forty four
Speaker 1: billion dollar buy out. The judge said there were glaring deficiencies.
Speaker 1: Global News twenty four hours a day on air and
Speaker 1: on Bloomberg Quicktake, powered by more than seven journalists and
Speaker 1: analysts more than one hundred twenty countries. I'm John Temper.
Speaker 1: This is Bloomberg as John Tucker. Thank you almost six
Speaker 1: on Wall streetch on Stashowers, the Bloomberg Sports Update, Thanks Dathan.
Speaker 1: When the Yankees are slumping, bring on the Twins. It's
Speaker 1: the team the Yanks always seem to dominate. And the
Speaker 1: Yanks with a double Edder sweep, now go for a
Speaker 1: four game series sweep tonight. They're doing it with a
Speaker 1: lineup that had five guys who have spent most of
Speaker 1: the season in Scranton, and the Yanks still won the
Speaker 1: wild opener five to four. They scored twice in the
Speaker 1: twelfth inning. That's Waldo Cabrera had the walk off hit
Speaker 1: and in in over twenty five slump. Earlier in Aaron
Speaker 1: Judge o'mron his fifty fifth second most in the Yankee history,
Speaker 1: moving past Mickey Mannell and Alex Rodriguez and now trailing
Speaker 1: only Roger Marri's nightcap had a grand slam from Isaiah
Speaker 1: Connor Felff and Aaron Hicks, who has struggled so mightily
Speaker 1: with a three run double on the Yanks one seven
Speaker 1: to one. That's also with a doubleheader sweep in Pittsburgh,
Speaker 1: first five to one and then tend enough. And though
Speaker 1: Max Scherzer has been put on the injured list with
Speaker 1: an eighty side, the hope is he misses only one start,
Speaker 1: no more than two. So down to the final four
Speaker 1: at the US Open Women's semifinals today tonight no Americans left.
Speaker 1: Jess Pagoula lost last night to the top seed IGIs Giontech.
Speaker 1: There is an American left on the men's side that
Speaker 1: had not been the case at the Open since Andy
Speaker 1: Roddick in two thousand six. Francis Tiafa one again. Tomorrow,
Speaker 1: Tiafa will face Carlos Alcarez. He won his quarterfinal match
Speaker 1: with the Unique Center in five sets. The match went
Speaker 1: five hours fifteen minutes. It ended at two fifty am.
Speaker 1: Alcarez had won his previous match at two twenty three am.
Speaker 1: Grams and Bills kick off the NFL season tonight in
Speaker 1: l A. The Jets made official that Joe Flacco will
Speaker 1: be their starting quarterbacks Sunday against Baltimore. Zack Wilson not
Speaker 1: ready to return from his knee injury. In fact, he
Speaker 1: might miss the first three games. John Stash Howard Bloomberg
Speaker 1: Sports Nathan John Thanks thirty seven on Wall Street Time
Speaker 1: for the Tri State Business Report with Bloomberg's head Cory
Speaker 1: Manhattan home sales under a million dollars sagged well below
Speaker 1: their pre pandemic levels this summer. The number of properties
Speaker 1: for sale under five hundred thousand bucks had entered contract
Speaker 1: in June, July and August was twenty nine, present, less
Speaker 1: than the average number for that period in the decade
Speaker 1: leading up to the pandemic. Bosses expect workers to start
Speaker 1: showing up more regularly at Manhattan offices that have been
Speaker 1: sparsely populated for more than two years. Jeff Blow, chief
Speaker 1: executive officer of Landlord Related Companies, thinks there will be
Speaker 1: a real push back to the office. Now that summer
Speaker 1: is ending, New York City is seeking bids from companies
Speaker 1: to operate its ferry system, a fleet of thirty eight
Speaker 1: boats that play a role in Mayor Eric Adam's plan
Speaker 1: to lure riders back to public transportation. N y C
Speaker 1: Ferry is used by six civilion travelers every year on
Speaker 1: routes that cover seventy nautical miles to all five boroughs
Speaker 1: that your Bloomberg Drying State Business Report. I'm Ed Corey
Speaker 1: on Wall Street, Bloomberg Radios on the air from San
Speaker 1: Francisco to New York, London to Hong Kong. Let's check
Speaker 1: in with our global news team for some of the
Speaker 1: top stories heard on our three hundred affiliate radio stations
Speaker 1: around the world. Steve Phota Scan on kao X in
Speaker 1: Los Angeles. We're talking about next our media looking for
Speaker 1: new shows as it takes over the money losing c
Speaker 1: W TV network, Cornitanahwan ktr H in Houston. Crude has
Speaker 1: tumbled by almost fifty dollars of Barrelton speaking in March,
Speaker 1: I'm Stephen Carol and Bloomberg d a B Digital Radio
Speaker 1: in London. We've been reporting on the ECB's right decision
Speaker 1: on the margin of the hike. I Mad Gorri on
Speaker 1: w p A M in Cleveland. I'm reporting the Browns
Speaker 1: Jack Cleveland Casino and the thistle Down Race. Pino will
Speaker 1: be able to offer sports betting in January. And those
Speaker 1: are some of the stories our d Bloomberg journalists and
Speaker 1: analysts working on this morning around the world. It's thirty
Speaker 1: nine on Wall Street. The following is an editorial from
Speaker 1: Bloomberg Opinion. This editorial was written by the Bloomberg Editorial Board.
Speaker 1: Liz Trust could hardly have picked worse circumstances under which
Speaker 1: to become the UK's new Prime Minister, even leaving aside
Speaker 1: the rain that delayed her inaugural speech this week. After all,
Speaker 1: she inherits potentially the worst economic crisis in a generation.
Speaker 1: Whether Trust exceeds expectations will depend on her willingness to
Speaker 1: abandon campaign slogans for pragmatic solutions. Trust will need to
Speaker 1: speak honestly about trade offs and demonstrate an ability to compromise,
Speaker 1: especially on two major issues where she'll have to make
Speaker 1: early decisions, the cost of living crisis and UK EU relations.
Speaker 1: Trust's task now is to restore confidence in the government's
Speaker 1: ability to manage crises at home while providing steady, stable
Speaker 1: leadership on the world stage. Not just Britain's should wish
Speaker 1: her success. This editorial was written by the Bloomberg Editorial Board.
Speaker 1: For more Bloomberg opinion, please go to Bloomberg dot Com,
Speaker 1: slash Opinion or ope I n go on the Bloomberg Terminal.
Speaker 1: This has been Bloomberg Opinion. Listen for Bloomberg opinion editorials
Speaker 1: every weekday. This time terminal customers can read more at
Speaker 1: op I n gull. Sunshine near eighty today will be sunny,
Speaker 1: low eighties all weekend. Long sixty five is the current
Speaker 1: temperature in Central Park markets. Headlines and breaking news twenty
Speaker 1: four hours a day at Bloomberg dot Com, the Bloomberg
Speaker 1: Business at and at Bloomberg Quick Tape. He's a Bloomberg
Speaker 1: Business flash and I'm paring Moscow European stocks pairing early
Speaker 1: games with investors conscious before a potential jumbo interest rate
Speaker 1: hike by the region's central bank later Today. US stock
Speaker 1: index futures are a little changed, and we check the
Speaker 1: markets every fifteen minutes throughout the trading day on Bloomberg
Speaker 1: s and P futures. Again, little change or NAZDAC and
Speaker 1: now futures. The decks in Germany's down about two chance
Speaker 1: of upper cent ten, Your treasury up four thirty seconds,
Speaker 1: yell three point to four percent, and the yield on
Speaker 1: the two year three point for three percent. Nine X
Speaker 1: screwde oil is down four ten per cent or thirty
Speaker 1: six cents and eighty one dollars fifty nine cents in barrel.
Speaker 1: Comex called up two tens per centers three dollars seventy
Speaker 1: cents a seventeen thirty one fifty announced. The euro is
Speaker 1: appointed is now at one against the dollar, British found
Speaker 1: one point one four nine two and the end one
Speaker 1: point nine three. And Bitcoin this morning is down about
Speaker 1: one percent and nineteen thousand one nine dollars. That's a
Speaker 1: Bloomberg business flash. Now here's John Tucker with more on
Speaker 1: what's going on around the world. John, Good morning, Karen,
Speaker 1: the Pentagon, it's quietly sent Ukraine. It's most accurate artillery show.
Speaker 1: The GPS got at ex caliber. Memphis police say four
Speaker 1: or dead after a teenager shooting spree that was streamed
Speaker 1: live on Facebook, and California's power grid once again didn't
Speaker 1: break despite being stretched to the limit as a punishing
Speaker 1: heat wave continues. Sports Yankees beat the Twins both games
Speaker 1: of a double header. Matt's also one, beating the Pirates
Speaker 1: in both games of their double header. The A's lost
Speaker 1: to the Braves, Giants lose to the Dodgers, the Red
Speaker 1: Sox lost to the Rays, the Orioles lost to the
Speaker 1: Blue Jays, and the Nationals lost to the Cardinals. Also,
Speaker 1: the NFL season kicks off tonight with the Bills heading
Speaker 1: to Los Angeles to take on the Super Bowl champion.
Speaker 1: Rams Global News twenty four hours a day on air
Speaker 1: in a Bloomberg Quicktake power bline, more than journalists and
Speaker 1: analysts and more than one hundred twenty countries. I'm John Tucker,
Speaker 1: and this is Bloomberg. Nathan Okay, John, Thanks, It's on
Speaker 1: Wall Street Live from the Bloomberg Interactive Broker Studios. This
Speaker 1: is Bloomberg Day Break. Let's turn out to the nation's
Speaker 1: capital where we're seeing some important moves in jail, politics
Speaker 1: and in the run up to the mid terms. Joining
Speaker 1: us now from our Bloomberg ninety nine one studios in Washington,
Speaker 1: d C. Is Bloomberg Government Congressional reporter Jack Fitzpatrick. Jack
Speaker 1: good morning. We've been reporting that the President is going
Speaker 1: to be holding a call later this morning to try
Speaker 1: to shore up support from allies in the war in Ukraine.
Speaker 1: What's the latest that we're hearing on that. Yeah, it's
Speaker 1: gonna be a video call. Uh. They haven't said exactly
Speaker 1: who's participating, but it's going to include some group of
Speaker 1: Seven leaders, some NATO nation leaders, and others from the
Speaker 1: European Union. UH, so a fairly broad group. The it
Speaker 1: seems europe centric. UH. And of course this comes in
Speaker 1: light of the news just this morning that the US
Speaker 1: is bringing forth another two billion dollars in military aid
Speaker 1: to Ukraine and other uh nearby nations affected by the
Speaker 1: invasion of Ukraine. So it you know, it seems to
Speaker 1: be another uh just the the White House re upping
Speaker 1: their attempts to display unity, UH get a number of
Speaker 1: different countries on board in terms of backing Ukraine. UH
Speaker 1: in light of expected uh you know, economic struggles heading
Speaker 1: into the winter, as as energy becomes in prices become
Speaker 1: more important and potentially more painful. UH. And and also
Speaker 1: Liz trust would be uh an interesting person to keep
Speaker 1: an eye on as she is uh the new UK
Speaker 1: leader who has been fairly hawkish on Russia. But it'll
Speaker 1: it'll be a video call that it would appear to
Speaker 1: take the same kind of rhetoric that you've heard before
Speaker 1: from the White House. Yeah, it's interesting that you bring
Speaker 1: up the threat of an energy crunch getting even worse
Speaker 1: for Europe as they head into the winter. What's the
Speaker 1: level of concern that you're hearing in the White House
Speaker 1: about whether the US is going to be able to
Speaker 1: hold the alliance together with Ukraine. Uh, you know, there's
Speaker 1: concern about that at this point. It seems more to
Speaker 1: be something the White House, the in the Biden administrations
Speaker 1: is warning about. It is not something that has appeared
Speaker 1: to shake the foundations of support for Ukraine at this point. Uh.
Speaker 1: I don't think the concern has risen to that level
Speaker 1: for the winter. But you know, the economic pain that
Speaker 1: could come from higher energy prices depending on how cold
Speaker 1: the winter is, is a very significant factor in this.
Speaker 1: You know, in Washington there is still a lot of support,
Speaker 1: a lot of bipartisan willingness to do more for Ukraine. Uh.
Speaker 1: The concern, as as you just alluded to, the is
Speaker 1: you know, how widespread is that support and how how
Speaker 1: steadfast does it stay there throughout the winter. It is
Speaker 1: a concern, but it is not something that has fundamentally
Speaker 1: changed the politics of the Ukraine Russia situation from the
Speaker 1: US's perspective. And how about the support on Capitol Hill
Speaker 1: for Ukraine, Jack, I know that the White House is
Speaker 1: looking to include a lot more Ukraine aid in the
Speaker 1: stop gap spending bill that's under negotiation. I guess has
Speaker 1: to be passed before what the end of this month
Speaker 1: to get a government from shutting downs left here yes September,
Speaker 1: they've got to have a stopgap funding bill bill that
Speaker 1: will probably run into December. The White House has asked
Speaker 1: for a number of additional h funds, including thirteen point
Speaker 1: seven billion in Ukraine related aid, and that is one
Speaker 1: of the few that has very clear bipartisan support on
Speaker 1: Capitol Hill. So there there is a lot of willingness
Speaker 1: to add more money, significant more money, Uh coming up
Speaker 1: soon from Congress for Ukraine. Appreciate this, Jack, Thanks for
Speaker 1: joining us. Jack Fitzpatrick, our congressional reporter for Bloomberg Government,
Speaker 1: joining us from the nation's capital. Karen Verry Nathan thank
Speaker 1: you at its five fifty three on Wall Straight Time
Speaker 1: for the Bloomberg Law Rapport. Let's get to the legal
Speaker 1: stories we are watching this morning. From Bloomberg's Jeff Bellinger,
Speaker 1: Meta Platforms is being sued in the New York Federal
Speaker 1: Court by Meta Capital Management. The investment advisory service claims
Speaker 1: metas name infringes on its trademark. A federal lawsuit accuses
Speaker 1: Game Stop of secretly wired happening the chat feature on
Speaker 1: its website than sharing transcripts with third parties for marketing purposes.
Speaker 1: A federal lawsuit was filed in California over the way
Speaker 1: Hello Fresh handles renewals for its grocery subscription service. Plaintiffs
Speaker 1: say they were not notified about automatic renewals. Bloomberg Law
Speaker 1: everything you need, all on one legal research platform, including
Speaker 1: guidance analysis and Bloomberg Market Intelligence. Find out more at
Speaker 1: Bloomberg Law dot com. All right, thanks Jeff. Now another
Speaker 1: legal story we're watching for the first time and more
Speaker 1: than a hundred years. A judge has removed a public
Speaker 1: official from office under the Constitution's ban on insurrectionists holding office.
Speaker 1: A judge has asked a coy Griffin, a county commissioner
Speaker 1: in a Tarot County, New Mexico, from his office for
Speaker 1: participating in the January sixth insurrection. For more Bloomberg, Joon
Speaker 1: Grauso speaks to know a book Binder, director of Citizens
Speaker 1: for Responsibility and Ethics in Washington, and on partisan watchdog
Speaker 1: organization that sued for g fince removal on behalf of
Speaker 1: three New Mexico residents. The judge's decisions seemed pretty far reaching,
Speaker 1: considering that Griffin had only been convicted of trespass, a misdemeanor,
Speaker 1: and the judge went on to rule for the first
Speaker 1: time that January six was an insurrection. That's right. There
Speaker 1: are a couple of really really significant parts of the
Speaker 1: judge's ruling. One was that, you know, this was the
Speaker 1: first time that a judge ruled that, as a matter
Speaker 1: of law, under the fourteenth Amendment, what happened on January
Speaker 1: six was an insurrection. And the other part was his
Speaker 1: finding that what Griffin did constituted participating in the insurrection.
Speaker 1: The judge specifically found that the fact that Griffin himself
Speaker 1: didn't engage in violence was not sufficient to say that
Speaker 1: he was not a participant in the insurrection, because he
Speaker 1: had incited and encouraged the crowd. He was part of
Speaker 1: this crowd that that that could be surrection, and that's
Speaker 1: one of the ways that this case could have, you know,
Speaker 1: pretty broad application gone forward. We'll explain that because this
Speaker 1: is the first you know, he's the first person associated
Speaker 1: with the January six insurrection to be kicked out of
Speaker 1: office under the Constitution. But it's a state court judge.
Speaker 1: So what do you think the impact is. Well, one
Speaker 1: of the things that it does is that it makes
Speaker 1: clear that the provision in the Constitution, which had not
Speaker 1: been enforced by a judge in over a hundred and
Speaker 1: fifty years and had been largely forgotten, that this is
Speaker 1: a provision that is still meaningful and could still be used.
Speaker 1: I think up until the judge's decision, it was kind
Speaker 1: of theoretical. It was something that people could point to,
Speaker 1: but it wasn't clear that it could be successfully applied
Speaker 1: in the modern day. And certainly, as we looked at it,
Speaker 1: what people like Griffin engaged in on January six was
Speaker 1: exactly the kind of event that the framers of the
Speaker 1: Furting demandment were worried about, and it ought to apply.
Speaker 1: And you know, this was sort of proof of concept
Speaker 1: that judge looking at that law, looking at the facts
Speaker 1: could find it applicable here, and you're right, this is
Speaker 1: a state court finding. It's not binding precedent elsewhere in
Speaker 1: the country. But we think that it's going to have
Speaker 1: enormous persuasive value, both in terms of people thinking about
Speaker 1: whether they could bring an action to disqualify someone under
Speaker 1: the fourteenth Amendment who participated in insurrection, and also the
Speaker 1: courts thinking that, you know, this is kind of a
Speaker 1: plunge that they can take, and as no A Book Binder,
Speaker 1: director of Citizens for Responsibility and Ethics in Washington, speaking
Speaker 1: with Bloomberg student Grosso. Catch more of that interview, plus
Speaker 1: analysis of the latest legal news, by subscribing to the
Speaker 1: Bloomberg Law Podcast or downloading the show at Bloomberg dot
Speaker 1: com slash podcast. Attorneys can find exceptional legal research and
Speaker 1: business development tools at Bloomberg Law dot com and the
Speaker 1: Bloomberg terminal at b Law Go. Futures this morning they
Speaker 1: are little changed and the tenure treasury up six thirty
Speaker 1: seconds you three point to four percent. They yield on
Speaker 1: the two year three point for three per cent. NIMEX
Speaker 1: Screwed oil is down six tents percent at eighty one
Speaker 1: nine cents a barrel. Still ahead of Bloomberg day break,
Speaker 1: we have a check on the business headlines and all
Speaker 1: the news you need to start your day. And this
Speaker 1: is Bloomberg