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Speaker 1: Good morning.

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

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Speaker 2: stories we're following today.

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Speaker 3: We begin with a highly anticipated trip by Janet Yellen

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Speaker 3: to China. The Treasury Secretary arrives today. It's a visit

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Speaker 3: surrounded by numerous hot button issues, from the war in

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Speaker 3: Ukraine to Taiwan's independence and a battleover advanced technology. We

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Speaker 3: get more from Bloomberg Steven Engel in Beijing.

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Speaker 4: US Treasury Secretary Jenna Yellen comes to Beijing with a

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Speaker 4: giant suitcase of issues to discuss with her new Chinese counterparts.

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Speaker 4: The expectations for any meaningful progress will probably be set

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Speaker 4: fairly low, but dialogue itself should be viewed as constructive.

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Speaker 5: Now.

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Speaker 6: Export controls by the US on advanced technologies to China,

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Speaker 6: and of course Beijing's own export restrictions on key metals,

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Speaker 6: they are hot topics right now, as America and its

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Speaker 6: allies de risk their exposure two and some might say

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Speaker 6: over reliance on China. Stephen Engel, Bloomberg News, Beijing.

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Speaker 2: Thanks Steven. Back here in the US, the FED is

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Speaker 2: also in focus this morning and headed tomorrow's jobs excuse me,

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Speaker 2: Jobs report. Policy makers held interest rates study last month

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Speaker 2: for the first time in more than a year by

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Speaker 2: New York Fed President John Williams says the data supports

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Speaker 2: more hikes to come.

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Speaker 7: The idea of slowing down the pace of rate increases

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Speaker 7: and continuing to slow the pace of rate increases makes sense.

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Speaker 7: Getting some more data, getting some more information about how

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Speaker 7: the economy is performing, how the past effects of monetary

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Speaker 7: policy are affecting economic activity and inflation, and then basically

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Speaker 7: having a meeting by meeting decision about how to adjust policy.

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Speaker 2: In those comments from John Williams echo yesterday's minutes from

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Speaker 2: the Fed. They showed a majority of officials still back

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Speaker 2: higher rates.

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Speaker 3: Let's move from monetary policy care into social media policy.

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Speaker 3: The Department now Justice is appealing a court's decision to

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Speaker 3: limit White House talks with social media companies. Amy Morris

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Speaker 3: has details from our Bloomberg ninety nine one newsroom in Washington.

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Speaker 8: Republican States had sued the administration, accusing it of colluding

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Speaker 8: with social media sites to censor misinformation about COVID nineteen

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Speaker 8: and elections. This week, a Trump appointed judge issued a

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Speaker 8: sweeping preliminary injunction preventing federal officials and agencies from having

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Speaker 8: any contact with social media firms for the purpose of

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Speaker 8: removing First Amendment protected speech, and the White House argues

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Speaker 8: social media platforms have a responsibility to be accountable for

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Speaker 8: their content. This case could quickly lend before the Supreme

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Speaker 8: Court if the government's request is rejected. In Washington, I

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Speaker 8: Mammy Morris, Bloomberg Daybreak.

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Speaker 2: All right, Amy, thanks you'll Staying on the social media theme,

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Speaker 2: a battallist playing out today between Elon Musk and Mark Zuckerberg.

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Speaker 2: Let's get the details from Bloomberg's John Tucker, John Karen.

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Speaker 9: Say hello to Threads from meta platforms Instagram. This is

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Speaker 9: an app by Mark Zuckerberg where you can post text

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Speaker 9: and links and reply to or repost messages from others.

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Speaker 9: It's the most serious threat yet to Elon Musks Twitter

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Speaker 9: in its first seven hours that saw more than ten

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Speaker 9: million sign ups. The launch of Threads also saw Zuckerberg

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Speaker 9: tweet for the first time in eleven years, tagging his

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Speaker 9: swipe at Musk, who in turn called Instagram fake. Well,

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Speaker 9: Twitter may be vulnerable. The companies cut thousands of employees

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Speaker 9: and ad revenues declined by fifty percent. Twitter is also

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Speaker 9: limiting how many tweets per day. Users can view threads

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Speaker 9: its launching without ads for now in New York on

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Speaker 9: John Tucker Bloomberg day Break.

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Speaker 3: Okay, John, thank you. There's turbulence in the skies this morning.

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Speaker 3: It looks like Jet Blues opting for a soft landing.

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Speaker 3: The airline says it is ending a legal fight to

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Speaker 3: keep its regional alliance with American Airlines. Jet Blue says

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Speaker 3: it will not appeal a federal courts finding that its

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Speaker 3: Northeast alliance violates anti trust laws. Instead, the carrier plans

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Speaker 3: to focus on saving its three point eight billion dollar

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Speaker 3: combination with Spirit Airlines. That deal is also being challenged

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Speaker 3: over anti trine concerns.

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Speaker 2: Well, Nathan. One of the hottest stalks over the past

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Speaker 2: two weeks has been Rivian Automotive. The electric vehicle company

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Speaker 2: has surged more than fifty percent over that period after

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Speaker 2: quarterly production and deliveries toped estimates. It's also started delivering

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Speaker 2: electric vans to Amazon, and we cat up with the

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Speaker 2: Rivian CEO RJ. Scarrange.

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Speaker 10: We're now in the final hopeful stages of negotiating allowing

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Speaker 10: us to sell the vehicle outside of the Amazon relationship

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Speaker 10: to other so that the exclusivity provisions that originally built

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Speaker 10: into the contract accelerating when we open that up to

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Speaker 10: bill of sell.

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Speaker 2: To non Amazon, and CEO RJ. Scarrange says Rivian will

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Speaker 2: deliver one hundred thousand electric delivery of vans to Amazon

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Speaker 2: by the end of the decade.

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Speaker 3: Staying on the roads, Karen, let's turn to local politics

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Speaker 3: at a legal showdown over New York City's new congestion tax.

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Speaker 3: The plan to charge drivers into Midtown and downtown Manhattan

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Speaker 3: received final federal approval last month. Now, New Jersey Governor

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Speaker 3: Phil Murphy says his administration is lawyering up and considering

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Speaker 3: options to fight the plan.

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Speaker 11: I'm not opposed to mitigating climate or pollution. In fact,

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Speaker 11: we've got the strongest environmental record.

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Speaker 12: Of any state in America.

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Speaker 11: But we can't fix a broken MTA in New York

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Speaker 11: City on the back of New Jersey commuters.

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Speaker 3: Governor Phil Murphy says rerouting traffic tied to the plan

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Speaker 3: could clog up roads and increase pollution in New Jersey.

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Speaker 3: Stay tuned for more of our interview with the New

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Speaker 3: Jersey governor coming up shortly here on Bloomberg.

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Speaker 2: Day Break, And finally, Nathan, the heat is on for

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Speaker 2: a third straight day. Earth's average temperature remained at a

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Speaker 2: record high of sixty two point nine degrees yesterday, making

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Speaker 2: it the third day in a row we've notched a

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Speaker 2: fresh record.

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Speaker 12: Sick down.

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Speaker 3: Some more stories making news in New York and around

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Speaker 3: the world. Good morning, Michael barn.

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Speaker 5: Good morning, Nathan. Nationwide, twenty one people have been killed

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Speaker 5: in one hundred and twenty four others were injured in

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Speaker 5: more than twenty mass shootings in the first five days

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Speaker 5: of July. In Philadelphia, a suspected gunman, Kim Brady Cherricer,

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Speaker 5: is accused of killing five people and injuring two children.

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Speaker 5: Charricer was arraigned on murder charges yes day and denied bail.

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Speaker 5: Asa Kliff is a member of the DA Office's LGBTQ

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Speaker 5: Advisory Committee. He says that certain conservative circles have been

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Speaker 5: using anti transgender language and rhetoric after some photos circulating

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Speaker 5: online suggested that Carricker was trans.

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Speaker 13: We will not allow trans women and trans women, in

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Speaker 13: particularly trans women of color, to be the escapegoat for biggots.

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Speaker 13: There is no room for that. We will not allow it.

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Speaker 5: Philadelphia also filed a lawsuit against some of the largest

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Speaker 5: suppliers of untraceable ghost guns and ghost gun kits. A

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Speaker 5: former Newark police officer was convicted of manslaughter and other charges.

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Speaker 5: Javannie Crespo faces up to thirty years in jail for

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Speaker 5: fatally shooting a man who sped off during a traffic stop.

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Speaker 5: Assistant Prosecutor Alex Albu argued that the use of deadly

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Speaker 5: force was not justified.

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Speaker 14: The only time you can use deadly force is if

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Speaker 14: there is imminent danger, and clearly what the jury found

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Speaker 14: in this case is there was no imminent danger under

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Speaker 14: either his policy and training, but under our criminal code

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Speaker 14: it simply wasn't there.

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Speaker 5: Sentencing will take place September fifteenth. At least two firefighters

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Speaker 5: are dead after they were battling a blaze on a

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Speaker 5: container ship in Newark, New Jersey. The blaze broke out

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Speaker 5: late last night. We're hearing from the wife a former

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Speaker 5: New York mayor Bill de Blasio after announcing that they

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Speaker 5: are separating after twenty nine years of marriage. Jelaine McCrae

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Speaker 5: says that they will still live together in their Brooklyn home.

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Speaker 5: Gee says that they are not planning to divorce, but

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Speaker 5: will date other people.

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Speaker 15: I hope that we can be a model for how

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Speaker 15: couples can communicate honestly about what their needs are and

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Speaker 15: how to conduct themselves when they find it's a time

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Speaker 15: to move in a different direction.

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Speaker 5: Sirleae McCrae spoke to ABC Global News twenty four hours

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Speaker 5: a day, powered by more than twenty seven hundred journalist

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Speaker 5: and analysts and over one hundred and twenty countries. I'm

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Speaker 5: Michael Barr. This is Bloomberg, Nathan.

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Speaker 12: Thank you, Michael.

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Speaker 3: Time for the Bloomberg Sports Update with John Stashauer Acts Nathan.

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Speaker 16: The Mets and Phoenix. Through eight innings, they had no runs,

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Speaker 16: only three hits, but in the ninth a dramatic homra

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Speaker 16: the payoff again hit in.

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Speaker 9: The air, teep right field.

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Speaker 12: There goes McCarthy, back to the wall. It's gone.

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Speaker 6: Halvarez ties the.

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Speaker 16: Game in the ninth inning, two ounce, two strikes.

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Speaker 12: The Mets are back. It is one one.

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Speaker 9: The kid has done it again.

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Speaker 16: CDs fifteenth homer for rookie catcher Francisco Albareza. The Mets

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Speaker 16: were not done. Mark Hanna had an RBI triple. The

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Speaker 16: Mets top the Diamondbacks two to one. I got eight

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Speaker 16: strong innings from code I Singa. He allowed only one run,

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Speaker 16: struck out twelve, and the Mets, after losing nineteen out

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Speaker 16: of twenty five, has suddenly won four in a row tonight,

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Speaker 16: go for a sweep of the d Backs were in

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Speaker 16: first place in the NLS. At the stadium, Yankees had

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Speaker 16: a two nothing lead. Baltimore came back scored four runs

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Speaker 16: on four hits. In the sixth inning, the Orioles won

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Speaker 16: six to three. The normally reliable Yankee bullpen failed the

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Speaker 16: Holy League provided by rookie starter Randy Vasquez. He threw

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Speaker 16: five scoreless Yanks and the loss got home runs from

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Speaker 16: Josh Donaldson and Anthony Volpe. In the fifth inning, there

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Speaker 16: was a seventeen minute delay. An Aaron throw by Oriole

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Speaker 16: shortstop Gunnar Henderson hit Pete Stendell, a cameraman for the

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Speaker 16: Yes Network. He was carted off on a stretcher did

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Speaker 16: make a peace sign to the crowd. Stendell said to

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Speaker 16: be conscious undergoing tests at a hospital. Yankees announced before

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Speaker 16: the game reliever Jimmy Cordero's season is over suspended for

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Speaker 16: violating Baseball's domestic violence policy at Wimbledon second round wins

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Speaker 16: for Novak Djokovic and IgA Srianteks. He lost only two games.

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Speaker 16: John Stashauwer Bloomberg Sports.

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Speaker 5: From coast to coast, from New York to San Francisco,

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Speaker 5: Boston to Washington, d C. Nationwide on Syria's The Bloomberg

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Speaker 5: Business Appen Bloomberg dot Com. This is Bloomberg Daybreak.

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Speaker 3: Good morning. I'm Nathan Hager. New Jersey is lawyering up.

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Speaker 3: That's the word from the state's governor, Phil Murphy. He

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Speaker 3: says he is pursuing legal options to block New York's

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Speaker 3: congestion pricing plan. The measure would charge drivers more than

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Speaker 3: twenty dollars to head into Midtown and downtown Manhattan. In

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Speaker 3: a conversation with Ann mariey horder and on Bloomberg's Balance

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Speaker 3: of Power, Governor Murphy discussed his fight against the congestion

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Speaker 3: tax and the outlook for next year's presidential race. Let's

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Speaker 3: listen into that conversation.

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Speaker 12: Now, we are lawyering up, and we're considering all of

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Speaker 12: our options.

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Speaker 11: I'm not opposed to to mitigating climate or pollution tech.

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Speaker 12: We've got the strongest environmental record of any state in America. Oh,

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Speaker 12: we can fix a.

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Speaker 11: Broken MTA in New York City on the back of

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Speaker 11: New Jersey commuters.

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Speaker 12: That that's not our job.

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Speaker 11: So this discriminates against New Jersey commuters.

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Speaker 12: It's a huge tax on them.

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Speaker 11: It frankly challenges our environment because of all the rerouting

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Speaker 11: of traffic that will take place.

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Speaker 17: Instead of congestion pricing well at.

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Speaker 11: A certain time and place at a certain rate. This

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Speaker 11: is not necessarily a bad idea, But let me just

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Speaker 11: remind everybody before we got here, everybody dragged their feet

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Speaker 11: on the Port Authority bus terminal that's years away from

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Speaker 11: getting rebuilt. Everybody dragged their feet and canceled the Gateway

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Speaker 11: Tunnel predecessor project, which is two more rail tunnels under

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Speaker 11: the Hudson.

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Speaker 12: When both of those are complete and there's.

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Speaker 11: A fair deal to discuss, that's something I'd be completely

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Speaker 11: open to. But this is not the time or the place.

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Speaker 11: Neither of those things are in fact in place, and

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Speaker 11: I'm not going to allow the MTA to balance its

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Speaker 11: books on the back of New Jersey commuters.

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Speaker 17: So are you looking at all the potential legal paths

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Speaker 17: forward for Jersey.

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Speaker 12: We are.

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Speaker 11: In all aspects legal and otherwise we will not win.

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Speaker 11: We also have the Port Authority which is a player here,

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Speaker 11: and that's another avenue that we are constantly assessing. We

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Speaker 11: cannot allow this to be MTA to fix its broken

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Speaker 11: finances on the back of Jersey commuters.

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Speaker 12: We're not going to let that happen.

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Speaker 17: Speaking of commuters, Newark is a major hub, especially for United.

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Speaker 17: We have been hearing from the CEO there's been a

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Speaker 17: lot of issues regarding flight disruptions, and Scott Kirby actually

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Speaker 17: told staff in a letter that United could quote further

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Speaker 17: change or reduce schedule to improve operations out of Newark.

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Speaker 17: Has Scott Kirby reached out, how concerned of you that

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Speaker 17: United may actually scale back its presence at Newark Airport.

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Speaker 11: We speak to Scott and his team all the time

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Speaker 11: about this and about other matters. This has been a

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Speaker 11: tough several weeks here in the Northeast United States.

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Speaker 12: This isn't unique to Newark, and.

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Speaker 11: I know Scott knows that we work as best we

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Speaker 11: can with the port authority which runs the airport, with

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Speaker 11: the big players, including United, with the FENS. I think

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Speaker 11: Scott is also on record that he thinks that this

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Speaker 11: is an air traffic controller issue in terms of staffing levels.

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Speaker 11: But we're investing in Newark's tomorrow. Terminal A open a

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Speaker 11: few months ago to great fanfare. The rest of it

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Speaker 11: will all be entirely opened to all the other gates

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Speaker 11: by the middle of September. We're early stage on Terminal B.

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Speaker 11: This is an incredible gem. When you pitch New Jersey

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Speaker 11: around the world, as I do when you pitch corporates

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Speaker 11: to come in and plan a flag, the connectivity with

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Speaker 11: Newark Liberty Airport is a big part of that pitch.

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Speaker 11: So we will stay vigilant on that, I promise you.

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Speaker 17: On the political landscape, you're of course involved in twenty

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Speaker 17: twenty four because you're on the President's advisory board, do

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Speaker 17: you expect that you're going to be used even more

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Speaker 17: to go out and pitch the president's agenda Given the

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Speaker 17: fact that poll after pol continues to just show that

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Speaker 17: Americans are still quite concerned about the president's age.

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Speaker 11: I'd be happy to go out any time anywhere for

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Speaker 11: the President and Vice President. Their track record, in particular

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Speaker 11: on the economy and on leading the coalition and this

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Speaker 11: aggressive of seeing war that Russia has initiated on Ukraine.

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Speaker 11: I think the work on both of those fronts is outstanding.

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Speaker 11: I read somewhere recently. And this is important to note

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Speaker 11: that Ronald Reagan's numbers in the middle of nineteen eighty

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Speaker 11: three were actually quite weak. The economic recovery had really

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Speaker 11: started with the Wall Street of search in the late

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Speaker 11: summer of eighty two, and it hadn't caught up with

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Speaker 11: his popularity. I suspect you're going to see something very

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Speaker 11: similar happen with Joe Biden, and if I could be

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Speaker 11: a part of that, as a surrogate or any other way,

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Speaker 11: I'd be honor to.

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Speaker 17: I have a final quick yes or no? Are you

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Speaker 17: still keeping the door open for your own political future

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Speaker 17: for the executive brand?

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Speaker 12: That's it, in fact of a note, but thank you

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Speaker 12: for asking.

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