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Speaker 1: report from our team at Bloomberg News Now, News.
Speaker 2: When you want it. With Bloomberg News Now, I'm Karen Moscow.
Speaker 2: We begin with Volkswagen, which is taking unprecedented steps to
Speaker 2: make itself more competitive. The automaker's top labor leader said.
Speaker 2: The German automaker is embarking on major cost cuts at
Speaker 2: its flagship VW brand. Bloomberg's Oliver Crook has more from Berlin.
Speaker 3: We're talking about cost savings of about four billion euros.
Speaker 3: We're talking about blanket cuts from of pay of workers
Speaker 3: at Volkwagen by ten percent across the board. We're also
Speaker 3: talking about the closing of three factories. That is what
Speaker 3: they plan to do at the management level.
Speaker 2: And that's Bloomberg's All ver Kruk, who reports the announcement.
Speaker 2: Kicks off a contentious week for a Volkswagon. It's expected
Speaker 2: to post declining sales and profit when it reports third
Speaker 2: quarter earnings. On Wednesday, Boeing launched a nearly nineteen billion
Speaker 2: dollar share sale, one of the largest ever buy a
Speaker 2: public company. It's looking to address liquidity needs and stave
Speaker 2: off a potential credit rating downgrade to junk. The company
Speaker 2: offered to sell ninety million common shares and about five
Speaker 2: billion dollars of depository shares. The common share portional loan
Speaker 2: would total just under fourteen billion dollars based on Friday's
Speaker 2: closing price. That would be the largest share sales since
Speaker 2: SoftBank Groups sold part of its stake in T Mobile
Speaker 2: US and twenty twenty, according to data compile by Bloomberg.
Speaker 2: McDonald said quarter pounders were returned to menus at all
Speaker 2: restaurants this week following a multi state e coli outbreak
Speaker 2: that is sickened dozens and left one person dead. Beget
Speaker 2: more with Bloomberg's Creedygoupda, they are ruling out beef patties
Speaker 2: for the e coli out break. Remember they are reporting
Speaker 2: earning tomorrow, so it's the really one. We're going to
Speaker 2: keep a eye on in terms of the impact to
Speaker 2: their bottom line that this outbreak may be taking, in
Speaker 2: what kind of guidance they can give. Bloomberg's Creety Goopdare
Speaker 2: reports the e coli has been linked to slivered onions
Speaker 2: served on top of the chain's quarter poundered cheeseburgers. That
Speaker 2: item is coming back to the menu at all McDonald's
Speaker 2: locations this week, minus the onions. Now to politics and
Speaker 2: Puerto Rican rapper bad Bunny express apport for Vice President
Speaker 2: Kamala Harris after a speaker at Donald Trump's rally in
Speaker 2: New York called the US territory a floating island of garbage.
Speaker 2: The remark about Puerto Rico by comedian Tony Hinchcliffe also
Speaker 2: drew a backlash from Republican lawmakers in Florida, including Senator
Speaker 2: Rick Scott. We get more with Bloomberg's Bill Ferries.
Speaker 4: Interestingly enough, outside of Florida, which has the largest population
Speaker 4: of Puerto Ricans in the continental US, the second largest
Speaker 4: group is in Pennsylvania, so one of the key battlegrounds states.
Speaker 4: So nobody knows at this point if that will make
Speaker 4: much of a difference in the election or not, but
Speaker 4: it's something that Harris supporters are talking a lot about overnight.
Speaker 2: Bloomberg's Bill Ferries Vice president Kamala Harris meanwhile took to
Speaker 2: x following the comments, where she announced a plan to
Speaker 2: boost Puerto Rico's economy and power grid. Robin Hood Marcus
Speaker 2: is joining competitors and allowing retail traders to bet on
Speaker 2: election outcomes before next week's US vote for president. Robinhood
Speaker 2: is rolling out contracts pegged to specific events, including whether
Speaker 2: a particular candidate will win an election. The firm said
Speaker 2: it will start offering a limited number of the event
Speaker 2: contracts tied to this year's presidential race, and buyers will
Speaker 2: have to attest that they meet a variety of requirements.
Speaker 2: Investigators from various federal agencies launched an inter agency operation
Speaker 2: today at the trouble To lock up in New York City,
Speaker 2: where Sean Diddy Combs is being held. The law enforcement
Speaker 2: operation was said to be aimed at maintaining a safe environment,
Speaker 2: and a statement the Bureau of Prisons set its operation
Speaker 2: in Brooklyn was pre planned and that there is no
Speaker 2: active threat. NATO has confirmed that North Korean troops have
Speaker 2: been sent to help Russia and it's almost three year
Speaker 2: war against Ukraine. It said some soldiers have already been
Speaker 2: deployed in Russia's Kirsk border region, where Russia has been
Speaker 2: struggling to push back a Ukrainian incursion. NATO Secretary General
Speaker 2: Mark Ruda told the reporters the move represents a significant
Speaker 2: escalation in North Korea's involvement in the conflict and marks
Speaker 2: a dangerous expansion of Russia's war while oil is sinking
Speaker 2: after Israel limited its retaliation to the missile barrage earlier
Speaker 2: this month to military sites in and around Tehran, begin
Speaker 2: more with Bloomberg's Ethan Branner in Tel Aviv.
Speaker 5: On the one hand, it was restrained. On the other hand,
Speaker 5: Israeli officials and analysts were saying that they got a
Speaker 5: lot of important air defense systems and choke holds in
Speaker 5: their missile production and drone production facilities, so that they
Speaker 5: have stripped around a lot of its ability to fight
Speaker 5: if there were another attack.
Speaker 2: And that's Bloomer's Ethan Bronner, who says Around's Foreign ministry
Speaker 2: is saying it won't forego it's right to respond to
Speaker 2: quote Israel's aggression, checking nimex scrude oil. This morning. It
Speaker 2: is down six point three percent. Brent also down six percent.
Speaker 2: Futures are higher. S and P futures up half percent down,
Speaker 2: futures up a third of up percent. Nasdak future is
Speaker 2: up seven tenths of percent. The ten year treasury yield
Speaker 2: four point two four percent. And that's news when you
Speaker 2: want it. With Bloomberg News now, I'm Karen Moscow and
Speaker 2: this