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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. Good morning, I'm Nathan

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Speaker 1: Hager and I'm Karen Moscow. Here are the stories we're

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Speaker 1: following today.

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Speaker 2: Karen, we begin once again in Chicago after nine three

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Speaker 2: of the Democratic National Convention. The evening included speeches from

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Speaker 2: rising stars like Transportation Secretary Pete Boodage and Maryland Governor

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Speaker 2: Wes Moore, along with party stalwarts like former President Bill Clinton.

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Speaker 2: But the main event was Minnesota Governor Tim Waltz. He

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Speaker 2: used his acceptance speech as the Democrats vice presidential nominee

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Speaker 2: to appeal to swing state voters.

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Speaker 3: I represented my neighbors in Congress for twelve years, and.

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Speaker 4: I learned an awful lot.

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Speaker 2: I learned how to work.

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Speaker 3: Across the aisle on issues like growing the rural economies

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Speaker 3: and taking care of veterans. And I learned how to

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Speaker 3: compromise without compromising my values.

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Speaker 2: Wal It's also lobbed attacks at Republican Donald Trump and

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Speaker 2: his running mate JD. Vance, linking them to the controversial

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Speaker 2: Project twenty twenty five initiative.

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Speaker 3: Some folks just don't understand what it takes to be

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Speaker 3: a good neighbor. Take Donald Trump and JD. Vance their

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Speaker 3: Project twenty twenty five will make things much much harder

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Speaker 3: for people who are just trying to live their lives.

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Speaker 2: Governor Waltz also praised Vice President Kamala Harris's policy proposals,

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Speaker 2: saying they will help the middle class. Republicans have seized

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Speaker 2: on the idea that Harris's running mate overstated elements of

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Speaker 2: his record while in the National Guard and Nathan.

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Speaker 1: Vice President Kamala Harris will close out the convention tonight

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Speaker 1: with her acceptance speech as Poles continue to show a

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Speaker 1: tight race with Donald Trump. Bloomberg Balance of Power host

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Speaker 1: Joe Matthew is in Chicago for the DNC. He has

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Speaker 1: more on what to expect from Harris tonight.

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Speaker 4: It's going to be an opportunity to stop the clock

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Speaker 4: essentially to talk to the delegates in the room and

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Speaker 4: people more importantly watching this from their living rooms, to

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Speaker 4: get to the matter of trust on issues like the economy,

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Speaker 4: like dealing with the border, and some of the other

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Speaker 4: issues that have dogged her.

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Speaker 1: Bloomberg's Joe Matthews says Kamala Harris will also focus on

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Speaker 1: her life story, and you can catch Joe along with

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Speaker 1: the Bloomberg's Kaylee lines from the DNC tonight on a

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Speaker 1: special edition of Balance of Power starting at eight pm

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Speaker 1: Wall Street Time on Bloomberg Radio and Television.

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Speaker 3: Well Karen.

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Speaker 2: On day three of the DNC, New York City Mayor

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Speaker 2: Eric Adams joined Bloomberg for a conversation about the race

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Speaker 2: and why he didn't get a chance to speak at

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Speaker 2: the convention.

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Speaker 5: The goal is not to get Eric Adams on the stage.

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Speaker 5: The goal is to get VP Harris and the team elected,

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Speaker 5: and they're putting together the right speakers and we're just

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Speaker 5: going to find out what is our role and we're

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Speaker 5: going to carry the ball based on that.

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Speaker 2: New York City Mayor Eric Adams added that public safety

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Speaker 2: will be a crucial message for Democrats in the campaign.

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Speaker 1: Meanwhile, Nathan, former President Donald Trump was campaigning at North

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Speaker 1: Carolina yesterday and he told his supporters it's hard to

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Speaker 1: talk policy when the Obamas are at him at the DNC,

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Speaker 1: Bloomberg said, Baxter has that story.

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Speaker 6: Trump and a rally in North Carolina says he'd like

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Speaker 6: to focus on policy because his advisors told him it's

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Speaker 6: the right thing to do. But he complained to the crowd,

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Speaker 6: did you see Barack Obama taking potshots that you're president,

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Speaker 6: and so was Michelle. So he asked the attendee, should

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Speaker 6: I get personal or should I not get personal? The

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Speaker 6: crowd liked him going on attack.

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Speaker 2: Now, try and be.

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Speaker 5: Nice to people, you know, but it's a little tough

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Speaker 5: when they get personal.

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Speaker 6: The Obama attacks were aimed at focusing on the way

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Speaker 6: Trump attacks his opponents with name calling. Poles have tightened

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Speaker 6: in North Carolina at Baxter Bloomberg Radio, all right, ed,

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Speaker 6: thank you.

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Speaker 2: We have one more note on the twenty twenty four race.

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Speaker 2: Reports indicate Independent Robert F. Kennedy Junior is expected to

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Speaker 2: end his presidential campaign this week. He plans to give

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Speaker 2: a speech about his future tomorrow from Phoenix. It comes

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Speaker 2: after Kennedy's running mate suggested that he could potentially endorse

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Speaker 2: Donald Trump well Nathan. Turning now to the war in

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Speaker 2: the Middle East. After Secretary of State Antony Blanken left

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Speaker 2: the region Tuesday without a ceasefire deal, the White House

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Speaker 2: said both President Biden and Vice President Harris spoke with

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Speaker 2: Israeli Prime Minister Benjamin Netanyahu yesterday. The White House says

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Speaker 2: Biden stress the urgency to strike a deal with Commas

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Speaker 2: on a ceasefire and hostage release and discussed upcoming talks

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Speaker 2: in Cairo to remove any remaining obstacles. Turned out to

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Speaker 2: the Economy Karen, a lot of investors focused in on

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Speaker 2: Jay Powell's much anticipated speech tomorrow from Jackson Hole, Wyoming.

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Speaker 2: The FED chair's comments will come after yesterday's FED minutes

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Speaker 2: from the July meeting. Bloomberg's Michael McKee is in Jackson Hole.

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Speaker 2: He says the minutes revealed many FED officials saw the

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Speaker 2: case for cuts at that July meeting.

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Speaker 7: They all decided that maybe because Jay, Paula and the

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Speaker 7: majority were saying, don't cut now, we will wait. But

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Speaker 7: they do say in the minutes that the latest data

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Speaker 7: they had gotten gave them more confidence that they were

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Speaker 7: going to be moving down to the two percent level

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Speaker 7: and it would be soon appropriate to move rates.

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Speaker 2: Bloomberg's Mike mckea. Some FED officials also saw a risk

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Speaker 2: of more serious labor market deterioration. Catch a special edition

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Speaker 2: of Bloomberg Surveillance Live from Jackson Hole tomorrow starting at

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Speaker 2: nine am Eastern on Bloomberg Radio and Television.

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Speaker 1: And Nathan Trader's got some insight on radcuts from one

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Speaker 1: FED official yesterday. Atlanta FED President Raphael Bostik joined other

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Speaker 1: policymakers in signaling caution before proceeding with radcuts. Bostig said

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Speaker 1: he's looking for a little more data before supporting a

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Speaker 1: reduction in interest rates, adding that he wants to be

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Speaker 1: absolutely sure inflation's contained.

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Speaker 2: Now to a few company notes, Karen first to the

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Speaker 2: latest on the bidding for Paramount Global, sources tell Bloomberg News.

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Speaker 2: Edgar Bronfman Junior has raised his offer to take over

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Speaker 2: the media company to six billion dollars atop's a four

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Speaker 2: point three billion dollar bid he made just three days ago.

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Speaker 2: The move could upset Paramount's plan to merge with Skydance Media,

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Speaker 2: led by David Ellison. That deal included a forty five

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Speaker 2: day period in which Paramount can review other offers. Broadfin

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Speaker 2: is a media executive and the heir to this Seagram's

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Speaker 2: Spirits fortune. He's reportedly expected to argue that his proposal

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Speaker 2: will result in less solution for Paramount's non Redstone shareholders.

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Speaker 1: Well Nathan Walt Disney has named former Morgan Stanley CEO

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Speaker 1: James Gorman to lead the search for a successor to

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Speaker 1: CEO Bob Iger and Bloomberg's Chris Palm Mary says the

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Speaker 1: search is on.

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Speaker 8: They have said they're looking at internal n external candidates,

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Speaker 8: but commncial wisdom is just a handful of senior Disney

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Speaker 8: executives who are in the running. Companies widely anticipated to

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Speaker 8: name somebody either a president or a COO next year

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Speaker 8: who will be the air parent and.

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Speaker 1: As Bloomberg's Chris Paul Mary, who says, it'll be a

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Speaker 1: tough role to fill since Disney has so many facets

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Speaker 1: to his business. Gorman joined Disney's board this year and

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Speaker 1: oversaw a succession at Morgan Stanley, where he continues to

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Speaker 1: serve as executive chairman.

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Speaker 2: Well, Karen, someone new is going to have to fill

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Speaker 2: the role leading Apple's app store, sources tell Bloomberg News

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Speaker 2: Matt Fisher is leaving the iPhone maker in October. Fisher's

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Speaker 2: run the app store since twenty ten. It's been under

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Speaker 2: regulatory pressure. Lawmakers say Apple's app store wields too much

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Speaker 2: power in the mobile software market.

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Speaker 1: And finally, Nathan Shares a Snowflake plunged eighteen percent yesterday

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Speaker 1: for their biggest declines as the company went public in

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Speaker 1: twenty twenty. The software developer delivered disappointing sales forecast and

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Speaker 1: Annow CEO Frank Slutman is stepping down. Bloomberg Intelligence says

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Speaker 1: Snowflake's AI plan remains unclear and checking shares this morning,

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Speaker 1: they're down eight percent.

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Speaker 2: As time.

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Speaker 1: Now for a look at some of the other stories

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Speaker 1: making news in New York and around the world, and

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Speaker 1: for that we're joined by Bloomberg's Michael Barr Michael, Good morning, Good.

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Speaker 9: Morning, Karen. Powerful New York Area politicians spoke at day

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Speaker 9: three of the Democratic National Convention in Chicago. House Democratic

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Speaker 9: Leader Hakim Jeffries called on the crowd to make Kamala

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Speaker 9: Harris the forty seventh president of the United States. Jeffries

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Speaker 9: also went after Donald Trump. Donald Trump is like an

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Speaker 9: old boyfriend who you broke up with, but he just

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Speaker 9: won't go away. He has spent the last four years

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Speaker 9: spinning the block. Also speaking at the convention, New Jersey

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Speaker 9: Senator Corey Booker. Booker is one of many lawmakers who

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Speaker 9: are paying tribute to longtime Congressman Bill Pascrell of New Jersey,

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Speaker 9: who died yesterday.

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Speaker 10: He never forgot where he came from in Patterson, and

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Speaker 10: he never stopped fighting. He could push some pacaderms he

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Speaker 10: fought for the people.

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Speaker 9: Pass Grell had recently been hospitalized for respiratory infection and fever,

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Speaker 9: and was again hospitalized earlier this month. In a post

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Speaker 9: on x, his office said he is now at peace

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Speaker 9: after a lifetime devoted to our great nation of America.

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Speaker 9: Bill Pascrell, a senior Democratic member of the powerful House

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Speaker 9: Ways and Means Committee, was eighty seven. A state appeals

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Speaker 9: court is being asked by New York State's attorney general

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Speaker 9: to uphold the lower court decision that former President Trump,

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Speaker 9: his adult sons, and company should pay nearly a half

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Speaker 9: a billion dollars for a business fraud. The Manhattan judge

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Speaker 9: found that the Trumps are liable for inflating the former

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Speaker 9: president's net worth by as much as over two billion

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Speaker 9: dollars and misrepresented values of assets. Trump lawyers argue that

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Speaker 9: prosecutors misapplied the law. Authorities are looking for the woman

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Speaker 9: who jumped a fence at a New Jersey zoo and

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Speaker 9: stuck her hand into the tiger enclosure. It was all

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Speaker 9: caught on video. Zoo keeper Averymneer says one of the

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Speaker 9: two Bengal tigers in that cage reacted to the woman

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Speaker 9: she taunted the animal.

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Speaker 11: I can also see his paw go up and him

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Speaker 11: go after her, and he was very agitated that she

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Speaker 11: was on the other side of the fence and he

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Speaker 11: could not.

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Speaker 12: Get to her.

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Speaker 9: Police posted the video on social media in hopes of

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Speaker 9: finding the woman. Global News twenty four hours a day

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Speaker 9: and whenever you want it with Bloomberg News Now Michael Barr,

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Speaker 9: and this is Bloomberg Kron.

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Speaker 1: All right, Michael Barr, thank you time now for the

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Speaker 1: Bloomberg Sports Update with John Stashauer.

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Speaker 13: John, good morning, Good morning, Careen. The Yankees offense has

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Speaker 13: been so often this year like they're a two man team.

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Speaker 13: That's never been more on display than last night at

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Speaker 13: the stadium. Juan Soto two run home on the first inning,

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Speaker 13: Aaron Judge two run shot of the third, Soto and

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Speaker 13: inning later with a check swing opposite field three run double,

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Speaker 13: and then in the seventh another Judge home run. Together

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Speaker 13: they drove in all eight runs in an eight to

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Speaker 13: one rout of Cleveland. Soto now has thirty six homers,

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Speaker 13: Judge has forty seven. He's hit six in the last

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Speaker 13: nine games, twelve in the last twenty three is on

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Speaker 13: pace to hit sixty. Nester Cortes seven scoreless innings. The

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Speaker 13: series ends this afternoon in the Bronx. Earlier at Cityfield,

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Speaker 13: Mets and Orioles three to three, bottom of the ninth

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Speaker 13: with Jesse Winker up as a pinch hitter.

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Speaker 12: Swing on a high fly ball well hit left center.

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Speaker 12: Moments going back to the track, it's a wall Bit's

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Speaker 12: Tom put it the buck. The Bets win it again

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Speaker 12: against the Vegas, and only now this Waker, after firing

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Speaker 12: down his helmet and benning gloves, step on first base

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Speaker 12: and start his triumph intar around the basis.

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Speaker 13: On WCBS. The Mets had also won four to three

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Speaker 13: Monday night, and that was on a walk off ninth

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Speaker 13: inning homer by Francisco Alvarez, also off of Baltimore's Sir

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Speaker 13: Anthony Dominguez. The Mets win helps the Yankees. They move

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Speaker 13: back ahead of Baltimore. The two teams continue to flip

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Speaker 13: flop atop the Al East. Atlanta lost of the Phillies

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Speaker 13: three to two, the Mets within a game and a

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Speaker 13: half of the Braves. Mets begin a ten game road

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Speaker 13: trip tonight in San Diego. Red Sox won four to

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Speaker 13: one at Houston. Nationals beat Colorado six to one. The

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Speaker 13: Denver Broncos named rookie bo Nicks is their Week one

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Speaker 13: starting quarterback. Twelfth pick of the draft, there was only

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Speaker 13: the sixth QB taken. He'll become the fourteenth different starting

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Speaker 13: QB for the Broncos since Peyton Manning retired. NBA Hall

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Speaker 13: of Famer Al Addams has passed away at eighty seven.

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Speaker 13: He played for the Warriors. He coached him to an

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Speaker 13: NBA championship, then became their general manager. Adams spent sixty

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Speaker 13: years with the US organization JOHNS.

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Speaker 8: Dashley.

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Speaker 2: We're Bloomberg Sports. Can I render Nathan.

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Speaker 6: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 6: and around the world on Bloomberg dot Com and the

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Speaker 6: Bloomberg Business app.

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Speaker 2: This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. Minnesota

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Speaker 2: Governor Tim Waltz made a play for the undecided on

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Speaker 2: Night three of the Democratic National Convention.

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Speaker 3: We're all here tonight for one beautiful, simple reason.

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Speaker 2: We love this country. Tim Waltz leaned into his record

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Speaker 2: as a veteran and a former high school football coach

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Speaker 2: as he introduced himself to the nation and accepted his

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Speaker 2: party's nomination to be vice president. For more. We are

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Speaker 2: joined now by Bloomberg News senior writer Stephanie Baker. Stephanie,

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Speaker 2: Good morning. A lot of talk about neighborliness, a lot

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Speaker 2: to talk about reaching out, quite a different tone from

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Speaker 2: I guess what we heard from the Obamas, perhaps the

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Speaker 2: night before last, good morning, good morning.

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Speaker 12: Yeah.

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Speaker 11: I mean Governor Waltz's you know, speech was really strong.

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Speaker 11: I think, you know, really it was his opportunity to

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Speaker 11: introduce himself to the nation, and he really leaned into

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Speaker 11: his coach Walls persona, you know, using that football metaphor

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Speaker 11: that I think if anyone else tried to use would

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Speaker 11: seem a bit corny, sort of saying, you know, we're

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Speaker 11: on the offense and we've got the ball and driving

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Speaker 11: down the field, you know. And he really emphasized what

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Speaker 11: Harris administration would do for the middle class, cutting taxes,

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Speaker 11: trying to make a housing more affordable.

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Speaker 9: You know.

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Speaker 11: I think it's incredible how he's managed to become such

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Speaker 11: an accomplished public speaker reading off a teleprompter when a

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Speaker 11: few weeks ago he'd never done any such thing.

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Speaker 2: Interesting to hear a lot of that kind of talk

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Speaker 2: reaching out more to kind of a rural voter that

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Speaker 2: many had even leaned toward Republicans in the past. Could

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Speaker 2: it be by design that they're sort of trying to

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Speaker 2: take that message of freedom and neighborliness and turn it

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Speaker 2: on its head against Republicans.

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Speaker 11: Yeah, I mean they're really trying to flip the script,

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Speaker 11: you know, saying that that doubling down on this sort

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Speaker 11: of idea that that less government is actually a democratic theme.

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Speaker 11: So you know, this message of get out of our bedrooms,

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Speaker 11: you know, don't tell us what to do, you know,

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Speaker 11: in our doctor's offices. And I think that that is

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Speaker 11: a very effective messaging for the kind of voters that

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Speaker 11: Harris needs if she's going to win the presidency, the

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Speaker 11: sort of swing voters that had traditionally gone to the

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Speaker 11: Republican Party, you know, that voted for Obama in two

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Speaker 11: thousand and eight and then voted for Trump in twenty sixteen.

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Speaker 11: So I think that's a very calculated bet on their part,

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Speaker 11: and that Walls will able to appeal to those white

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Speaker 11: male voters that I think Harris is in fact struggling

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Speaker 11: to win over.

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Speaker 2: You do enough, do you think to rebut the Republican

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Speaker 2: attack that we'd heard after he announced as Kamala Harris's

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Speaker 2: running mate, that he's Bernie Sanderson, a hunting jacket.

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Speaker 11: I think it's going to be really hard for the

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Speaker 11: Republicans to paint him as some crazy left winger. He's

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Speaker 11: too normal, you know, everything from his background as a

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Speaker 11: teacher to a football coach. He's he's your classic kind

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Speaker 11: of miss Midwestern dad. I think, you know, the speech

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Speaker 11: last night was proof that that is going to be

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Speaker 11: a very hard thing for the Republicans to do, to

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Speaker 11: paint him as some you know, crazy guy who's out

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Speaker 11: to you know, take the country back to you know,

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Speaker 11: some other era. So I don't you know, I don't

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Speaker 11: think that's going to work.

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Speaker 2: So our last thirty second, Stephanie, how does this set

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Speaker 2: us up for Kamala Harris's accept in speech tonight.

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Speaker 8: It'll be really.

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Speaker 11: Interesting to see, you know what, you know what she says.

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Speaker 11: I think she's not going to she's not going to

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Speaker 11: go into detail on policy, and I think that's been

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Speaker 11: some of the criticism that they're at this point. They're

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Speaker 11: very light on detail of what they're actually going to do.

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Speaker 11: I think she's going to emphasize values. Uh, she's going

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Speaker 11: to emphasize the theme of freedom, which has been, you know,

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Speaker 11: central to her campaign message and I think has been

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Speaker 11: very successful.

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Speaker 6: Let's wait and see.

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Speaker 2: This is Bloomberg day Break today, your morning brief on

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Speaker 2: Nathan Hager and I'm Karen Moscow.

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