WEBVTT - Introducing Bloomberg News Now

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<v Speaker 1>Hi, this is Stephen Carroll, and I want to tell

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<v Speaker 1>you about Bloomberg News Now. It's News when you want

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<v Speaker 1>us on your schedule. These are short audio reports five

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<v Speaker 1>minutes or less that bring you the latest headlines with context,

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<v Speaker 1>twenty four hours a day. Get it on your smartphone

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<v Speaker 1>with Apple Podcasts, Spotify or any podcast platform. And if

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<v Speaker 1>you're still not sure, here's a sample of today's latest

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<v Speaker 1>report from our team at Bloomberg News Now, News.

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<v Speaker 2>When you want it. With Bloomberg News Now, I'm Karen Moscow.

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<v Speaker 2>We begin with Volkswagen, which is taking unprecedented steps to

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<v Speaker 2>make itself more competitive. The automaker's top labor leader said.

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<v Speaker 2>The German automaker is embarking on major cost cuts at

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<v Speaker 2>its flagship VW brand. Bloomberg's Oliver Crook has more from Berlin.

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<v Speaker 3>We're talking about cost savings of about four billion euros.

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<v Speaker 3>We're talking about blanket cuts from of pay of workers

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<v Speaker 3>at Volkwagen by ten percent across the board. We're also

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<v Speaker 3>talking about the closing of three factories. That is what

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<v Speaker 3>they plan to do at the management level.

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<v Speaker 2>And that's Bloomberg's All ver Kruk, who reports the announcement.

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<v Speaker 2>Kicks off a contentious week for a Volkswagon. It's expected

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<v Speaker 2>to post declining sales and profit when it reports third

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<v Speaker 2>quarter earnings. On Wednesday, Boeing launched a nearly nineteen billion

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<v Speaker 2>dollar share sale, one of the largest ever buy a

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<v Speaker 2>public company. It's looking to address liquidity needs and stave

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<v Speaker 2>off a potential credit rating downgrade to junk. The company

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<v Speaker 2>offered to sell ninety million common shares and about five

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<v Speaker 2>billion dollars of depository shares. The common share portional loan

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<v Speaker 2>would total just under fourteen billion dollars based on Friday's

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<v Speaker 2>closing price. That would be the largest share sales since

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<v Speaker 2>SoftBank Groups sold part of its stake in T Mobile

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<v Speaker 2>US and twenty twenty, according to data compile by Bloomberg.

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<v Speaker 2>McDonald said quarter pounders were returned to menus at all

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<v Speaker 2>restaurants this week following a multi state e coli outbreak

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<v Speaker 2>that is sickened dozens and left one person dead. Beget

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<v Speaker 2>more with Bloomberg's Creedygoupda, they are ruling out beef patties

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<v Speaker 2>for the e coli out break. Remember they are reporting

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<v Speaker 2>earning tomorrow, so it's the really one. We're going to

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<v Speaker 2>keep a eye on in terms of the impact to

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<v Speaker 2>their bottom line that this outbreak may be taking, in

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<v Speaker 2>what kind of guidance they can give. Bloomberg's Creety Goopdare

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<v Speaker 2>reports the e coli has been linked to slivered onions

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<v Speaker 2>served on top of the chain's quarter poundered cheeseburgers. That

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<v Speaker 2>item is coming back to the menu at all McDonald's

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<v Speaker 2>locations this week, minus the onions. Now to politics and

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<v Speaker 2>Puerto Rican rapper bad Bunny express apport for Vice President

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<v Speaker 2>Kamala Harris after a speaker at Donald Trump's rally in

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<v Speaker 2>New York called the US territory a floating island of garbage.

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<v Speaker 2>The remark about Puerto Rico by comedian Tony Hinchcliffe also

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<v Speaker 2>drew a backlash from Republican lawmakers in Florida, including Senator

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<v Speaker 2>Rick Scott. We get more with Bloomberg's Bill Ferries.

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<v Speaker 4>Interestingly enough, outside of Florida, which has the largest population

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<v Speaker 4>of Puerto Ricans in the continental US, the second largest

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<v Speaker 4>group is in Pennsylvania, so one of the key battlegrounds states.

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<v Speaker 4>So nobody knows at this point if that will make

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<v Speaker 4>much of a difference in the election or not, but

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<v Speaker 4>it's something that Harris supporters are talking a lot about overnight.

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<v Speaker 2>Bloomberg's Bill Ferries Vice president Kamala Harris meanwhile took to

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<v Speaker 2>x following the comments, where she announced a plan to

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<v Speaker 2>boost Puerto Rico's economy and power grid. Robin Hood Marcus

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<v Speaker 2>is joining competitors and allowing retail traders to bet on

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<v Speaker 2>election outcomes before next week's US vote for president. Robinhood

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<v Speaker 2>is rolling out contracts pegged to specific events, including whether

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<v Speaker 2>a particular candidate will win an election. The firm said

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<v Speaker 2>it will start offering a limited number of the event

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<v Speaker 2>contracts tied to this year's presidential race, and buyers will

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<v Speaker 2>have to attest that they meet a variety of requirements.

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<v Speaker 2>Investigators from various federal agencies launched an inter agency operation

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<v Speaker 2>today at the trouble To lock up in New York City,

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<v Speaker 2>where Sean Diddy Combs is being held. The law enforcement

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<v Speaker 2>operation was said to be aimed at maintaining a safe environment,

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<v Speaker 2>and a statement the Bureau of Prisons set its operation

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<v Speaker 2>in Brooklyn was pre planned and that there is no

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<v Speaker 2>active threat. NATO has confirmed that North Korean troops have

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<v Speaker 2>been sent to help Russia and it's almost three year

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<v Speaker 2>war against Ukraine. It said some soldiers have already been

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<v Speaker 2>deployed in Russia's Kirsk border region, where Russia has been

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<v Speaker 2>struggling to push back a Ukrainian incursion. NATO Secretary General

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<v Speaker 2>Mark Ruda told the reporters the move represents a significant

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<v Speaker 2>escalation in North Korea's involvement in the conflict and marks

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<v Speaker 2>a dangerous expansion of Russia's war while oil is sinking

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<v Speaker 2>after Israel limited its retaliation to the missile barrage earlier

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<v Speaker 2>this month to military sites in and around Tehran, begin

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<v Speaker 2>more with Bloomberg's Ethan Branner in Tel Aviv.

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<v Speaker 5>On the one hand, it was restrained. On the other hand,

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<v Speaker 5>Israeli officials and analysts were saying that they got a

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<v Speaker 5>lot of important air defense systems and choke holds in

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<v Speaker 5>their missile production and drone production facilities, so that they

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<v Speaker 5>have stripped around a lot of its ability to fight

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<v Speaker 5>if there were another attack.

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<v Speaker 2>And that's Bloomer's Ethan Bronner, who says Around's Foreign ministry

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<v Speaker 2>is saying it won't forego it's right to respond to

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<v Speaker 2>quote Israel's aggression, checking nimex scrude oil. This morning. It

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<v Speaker 2>is down six point three percent. Brent also down six percent.

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<v Speaker 2>Futures are higher. S and P futures up half percent down,

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<v Speaker 2>futures up a third of up percent. Nasdak future is

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<v Speaker 2>up seven tenths of percent. The ten year treasury yield

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<v Speaker 2>four point two four percent. And that's news when you

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<v Speaker 2>want it. With Bloomberg News now, I'm Karen Moscow and

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<v Speaker 2>this