Speaker 1: Good morning.
Speaker 2: I'm Nathan Hager and I'm Karen Moscow. Here are the
Speaker 2: stories we're following today.
Speaker 3: We begin with talks between the United Autoworkers Union and
Speaker 3: the Big three Detroit automakers and the threat of a
Speaker 3: work stoppage that could have a wide ranging impact on
Speaker 3: the US economy. Bloomberg's Ed Corey joins US from Detroit
Speaker 3: with the latest.
Speaker 4: Sources tell Bloomberg the union is now considering targeted strikes
Speaker 4: at a number of factories run by each of Detroit's
Speaker 4: three automakers if they can't reach contract agreements by a
Speaker 4: Thursday night deadline. The UAW and car makers are haggling
Speaker 4: over big pay raises, constant living allowances, and other benefits.
Speaker 4: The union has demanded. UAW President Sean Fayn plans to
Speaker 4: lay out the union strike plans at ten pm Thursday,
Speaker 4: two hours before the contract officially expires in Detroit. Ed
Speaker 4: Corey Bloomberg Radio, All right, Ed.
Speaker 2: Thanks, So We're also closely following activity on Capitol Hill.
Speaker 2: After House republic Ens launched an impeachment probe into President
Speaker 2: Joe Biden. Speaker Kevin McCarthy says the probe will investigate
Speaker 2: what he calls a culture of corruption.
Speaker 5: I do not make this decision lightly, and regardless of
Speaker 5: your party or who you voted for, these facts should
Speaker 5: concern all Americans.
Speaker 2: Speaker Kevin McCarthy is bypassing a floor vote in the
Speaker 2: House to move to an impeachment inquiry. Democratic Leader Hakim
Speaker 2: Jeffries is critical of the move.
Speaker 6: This is an illegitimate impeachment inquiry, period full stop.
Speaker 2: New York Congressman HACKEM. Jeffries calls the inquiry a waste
Speaker 2: of time and taxpayer dollars, and says House Democrats will
Speaker 2: defend President Biden, of course.
Speaker 3: Inflations in focus today Karen Is. The government issues the
Speaker 3: August consumer price Index ahead of next week's FED meeting.
Speaker 3: Bloomberg's Michael McKee has a preview.
Speaker 7: Investors have already priced for a rise in headline inflation,
Speaker 7: largely led by energy prices. The Fed can't effect those,
Speaker 7: so there's no anticipation the CPI will lead to a
Speaker 7: rate rise at next week's meeting. Instead, the focus will
Speaker 7: be on the core inflation rate. It's forecast to drop,
Speaker 7: suggesting the Central Bank is still making progress. Within the report, analysts,
Speaker 7: we'll be looking primarily at housing prices rents. After a
Speaker 7: long period pushing inflation up, they are expected to decelerate.
Speaker 7: Michael McKee, Bloomberg Radio.
Speaker 3: All right, Mike, thank you. We get the August CPI
Speaker 3: eight thirty am. Wall Street Time, follow of Bloomberg Radio
Speaker 3: and Television all morning for full coverage.
Speaker 2: All right, Nathan, thank you. Market's also reacting to the
Speaker 2: tech sector this morning, specifically Apple's long awaited iPhone release.
Speaker 2: The company is raising the price of the new promacs
Speaker 2: by one hundred dollars as it looks to combat a
Speaker 2: slow down in a smartphone sales and pressure from China,
Speaker 2: which could expand its ban on iPhone use by government employees.
Speaker 2: This morning, the Chinese government claimed it's noticed some security
Speaker 2: incidents involving iPhones. Apple shares fell almost two percent after
Speaker 2: yesterday's unveiling and checking Apple and the pre market, it's
Speaker 2: down a third of five percent this morning.
Speaker 3: We're keeping an eye on economics overseas, Karen. The UK
Speaker 3: economy shrink at its fastest pace in seven months ahead
Speaker 3: of next week's Bank of England decision. Bloomberg's Ewan Pots
Speaker 3: joins us from London with more.
Speaker 8: Good morning, Ewan, Good morning, Nathan, and Karen wet weather
Speaker 8: and striking workers. Those are two of the factors behind
Speaker 8: July's disappointing economic data. UK GDP shrank by five tenths
Speaker 8: of one percent on the month. Combined with yesterday's data
Speaker 8: showing a rise in unemployment, Today's damp GDP reading is
Speaker 8: another sign the UK economy is losing steam now in
Speaker 8: the face of those shop increase in boring costs. In London,
Speaker 8: I'm you in pots Bloomberg.
Speaker 2: Radio, All right, Ewen, thank you. Here in the US,
Speaker 2: we've been following a lot of activity in the IPO
Speaker 2: space from companies like Armholdings and Instant Card. In this morning,
Speaker 2: we're following a European company, Birkinstock, filing for an initial
Speaker 2: public offering in the US. Bloombergs Charlie Pellett has that story.
Speaker 9: It is another sign of the allure that American equity
Speaker 9: markets hold for European firms seeking a valuation uplift. The
Speaker 9: German footwear maker plans to listed shares on the New
Speaker 9: York Stock Exchange under the symbol BIO. Bloomberg News was
Speaker 9: previously reported, but the IPO could value Birkenstock at more
Speaker 9: than eight billion dollars. Goldman Sachs, JP, Morgan Chase and
Speaker 9: Morgan Stanley are leading the offering in New York. Charlie
Speaker 9: Pellett Bloomberg Radio.
Speaker 3: Okay, Charlie, thank you, And speaking of that arm IPO,
Speaker 3: it's set the price. After the closing belt today, investors
Speaker 3: are watching to see how arms owner SoftBank fairs and
Speaker 3: what's set to be the largest listing of the year.
Speaker 3: Investors are also waiting to see if the IPO helps
Speaker 3: to reignite equity capital markets well.
Speaker 2: Also this morning, Nathan, we're following two natural disasters in
Speaker 2: North Africa. Search efforts intensified after a storm of ravaged
Speaker 2: Libya's eastern region, killed around two thousand people on that
Speaker 2: many more missing. Meanwhile, in Morocco, close to three thousand
Speaker 2: people have been killed following the nation's most powerful earthquake
Speaker 2: in a century. Last ditch search efforts continue to look
Speaker 2: for survivors after the earthquake struck late last week.
Speaker 3: In staying overseas, Karen, we're monitoring the meeting between Russian
Speaker 3: President Vladimir Putin North Korean leader Kim Jong un. They
Speaker 3: held talks today at a Russian space center. As Russia
Speaker 3: seeks military support for its invasion of Ukraine. Russian state
Speaker 3: media say the one on one talks have concluded. It
Speaker 3: marks the first summit between the heads of state in
Speaker 3: four years.
Speaker 2: And this morning, Nathan A. Stanford has topped Business Weeks
Speaker 2: be a school ranking for the fifth straight year, and
Speaker 2: every year a Bloomberg survey students, alumni and employers to
Speaker 2: rate the best business schools and NBA programs around the world.
Speaker 2: Running at the top five are the University of Chicago, Dartmouth,
Speaker 2: and Virginia and a tie for third and Columbia Business
Speaker 2: School is at number five.
Speaker 3: All right, Karen, Thanks, it is time to take a
Speaker 3: look at some of the other stories making news around
Speaker 3: the world. For that, we're joined by Bloomberg's Michael Barr.
Speaker 6: Good morning, Michael, Good morning. Nathan Moore on the disaster
Speaker 6: in Libya. A major storm unleashed devastating floods, with thousands
Speaker 6: feared dead. Two dams failed in the coastal city of Durnham.
Speaker 6: The rushing waters gouged a path where neighborhoods once stood.
Speaker 6: More than five thousand are feared dead, and there are
Speaker 6: concerns that as many as ten thousand could be missing.
Speaker 6: Five former Memphis police officers are now facing federal civil
Speaker 6: rights charges and the beating death of Tyree Nichols. The
Speaker 6: new charges come nine months after officers were recorded on
Speaker 6: video beating Nichols during a traffic stop near his Memphis home.
Speaker 6: Civil rights attorney Van Crump, who is representing nicholls family,
Speaker 6: says they will go to Washington to call for police
Speaker 6: reform legislation. How many more hashtas?
Speaker 10: How many more black people have to die necessarily for
Speaker 10: we say that America we.
Speaker 6: Need police reform. Nichols died at a hospital three days
Speaker 6: after the beating. Senators will be meeting behind closed doors
Speaker 6: today with the nation's top tech leaders. Bloomberg's Nancy Lyons
Speaker 6: reports the issue will be on artificial intelligence.
Speaker 11: The senators are hoping to learn more about the emerging
Speaker 11: technology and how to set up safeguards. Senator Mark Warner
Speaker 11: of Virginia tells bloomber Sound On they need to face
Speaker 11: any potential threats early in the process.
Speaker 12: There is a real sense that what we cannot do
Speaker 12: is simply what we did with social media, which was
Speaker 12: basically to say to the tech community, you guys, go
Speaker 12: figure this out, and we'll try to come in and
Speaker 12: put rules in after the fact.
Speaker 11: This event is the first in a nine part series
Speaker 11: of AI forums focused on promoting innovation, national security, and privacy.
Speaker 11: In Washington, Nancy Lyons Bloomberg Radio.
Speaker 6: COVID nineteen boosters formulated to protect against newer strains of
Speaker 6: the virus, will be available in the US after the
Speaker 6: Centers for Disease Control and Prevention signed off on their rollout.
Speaker 6: CDC director Mandy.
Speaker 2: Cohen, it's to protect you from the serious consequences that
Speaker 2: this virus still can have.
Speaker 6: Shots from Moderna and Fizer Buyintech are expected to be
Speaker 6: available by the end of the week. The story now
Speaker 6: on sinus medications that have been on the market for decades.
Speaker 6: An FDA advisory committee found over the counter oral pe
Speaker 6: does not alleviate nasal congestion anymore than a placebo. Doctors
Speaker 6: taking oral pe is not harmful, but proves to be
Speaker 6: ineffective because it's processed by the body before it reaches
Speaker 6: the nasal passages. Global News twenty four hours a day,
Speaker 6: powered by more than twenty seven one hundred journalists analysts
Speaker 6: in over one hundred twenty countries. I'm Michael Barr. This
Speaker 6: is Bloomberg Naked.
Speaker 13: All right, Michael.
Speaker 3: Thanks Now you can get the latest news whenever you
Speaker 3: want it with Bloomberg News Now top stories from our
Speaker 3: global team of reporters at the click of a button.
Speaker 3: Get Bloomberg News Now on the Bloomberg Business App, Bloomberg
Speaker 3: dot com, and anywhere you get your podcasts. Time now
Speaker 3: for the Bloomberg Sports Update with John stepshowing, Thanks.
Speaker 13: Nith, and the Aaron Rodgers season ending Achilles injury leaves
Speaker 13: a couple of questions. Is Rogers already thirty nine years old,
Speaker 13: willing to go through what would be a strenuous reab
Speaker 13: to get ready to play next season. I'm more pressing
Speaker 13: what happens now. Jets coach Rob Saala insists this is
Speaker 13: now Zach will Nelson's team, but he hasn't looked good
Speaker 13: the last two seasons. They definitely need another quarterback. Will
Speaker 13: they trade for a current backup or sign a currently
Speaker 13: unemployed QB like a Carson Wentz or Joe Flacco who's
Speaker 13: been a Jet the last three season. Jets are one
Speaker 13: and oh salas certainly not giving up.
Speaker 14: I don't know why people are trying to put an
Speaker 14: obituary under our team name. You know, it's Aaron is
Speaker 14: an unbelievable piece to this whole thing, and we love them.
Speaker 14: But I think there's fifty two other guys in the
Speaker 14: locker room, plus the sixteen part squad, guys that believe
Speaker 14: that we can do a hell of a lot of
Speaker 14: good things here.
Speaker 13: Jets play Sunday in Dallas and Boston, double letter sweet
Speaker 13: for the Yankees. Got solid pitching in both ends one
Speaker 13: three to two and four to one, and the Nightcap.
Speaker 13: Yanks used four relievers, all of whom are in the
Speaker 13: minors most of the season, and they threw four scoreless
Speaker 13: innings eleven only two bits Yanks are back over five hundred.
Speaker 13: They're tied with the Socks, trying to avoid finishing last.
Speaker 13: At Cityfield, metsbeat Arizona seven to four. They had thirteen hits,
Speaker 13: three home runs, including number forty four for Fee Alonzo,
Speaker 13: Atlanta's first base with Matt Olson hit his fifty first time.
Speaker 9: The Braves record Mats. Meanwhile, I have a new boss.
Speaker 13: In a move that had been long expected, They've hired
Speaker 13: thirty eight year old New York native David Stearns to
Speaker 13: be President of baseball Operations. At the job, he previously
Speaker 13: had in Milwaukee. Sterns grew up a Mets fan from
Speaker 13: Tanna's former World number one Simona Hallups suspended for four
Speaker 13: years for pd US Johns dashewe Bloomberg.
Speaker 10: Sports from coast to coast, from New York to San Francisco,
Speaker 10: Boston to Washington, DC, nationwide on sirisxam, the Bloomberg Business
Speaker 10: app in Bloomberg dot Com.
Speaker 9: This is Bloomberg Daybreak. Good morning.
Speaker 3: I'm Nathan Hager. It is a fight that the White
Speaker 3: House says is threatening military readiness, but Republican Senator Tommy
Speaker 3: Tubberville of Alabama says he will continue to block hundreds
Speaker 3: of military promotions unless the Biden administration abolishes its new
Speaker 3: abortion policy and the Senate votes on it. He spoke
Speaker 3: with Joe Matthew and Anrey Hordn on Bloomberg's balance of power.
Speaker 5: I truly believe in our national offense. We don't have
Speaker 5: a great national offense. We don't have anything, so that
Speaker 5: being said. On the Armed Services Committee, I got a
Speaker 5: briefing about a year ago what they were going to
Speaker 5: do with the new abortion policy. We didn't need one.
Speaker 5: It worked perfect. They never had one complaint. We've had
Speaker 5: one since nineteen eighty four. Joe Biden and the Democrats
Speaker 5: voted a policy in that had the three exceptions and
Speaker 5: it worked perfectly, but they just decided to change it.
Speaker 10: Now.
Speaker 5: They voted it through Congress in the eighty four, but
Speaker 5: in twenty twenty three they want to change it with
Speaker 5: a memo from the White House. We're not a communist country.
Speaker 5: Everything this made policy and law goes through Congress. And
Speaker 5: I told them that if you change it, I'm going
Speaker 5: to block your admirals and generals. Well at that time
Speaker 5: there was one or two. Now we're up to three hundred.
Speaker 5: I think they're starting to believe me that I meant
Speaker 5: what I said. And again, they could be clearing these
Speaker 5: nominations one at a time, two hours each. They don't
Speaker 5: want to do that. Democrats have not been told no
Speaker 5: since they've been up here for two and a half
Speaker 5: almost three years, since the President Biden was elected, and
Speaker 5: now they can't handle it. But we're not going to
Speaker 5: have any movement on my side unless they change this
Speaker 5: back and let's vote on it. Let's just vote on
Speaker 5: it and if it passes. If it passes, it doesn't, it.
Speaker 15: Doesn't, So just to be clear, Senator, you want Chuck
Speaker 15: Schumer to bring legislation ending the Pentagon's policy to the floor.
Speaker 15: Do you want to see the nominees brought to the floor.
Speaker 15: How do you see across the valley on us.
Speaker 5: Well, if you want to get them all done at
Speaker 5: one time, all they have to do is put the
Speaker 5: policy back the way it was, the way it was
Speaker 5: was voted on here in the Senate, everybody by everybody's
Speaker 5: represented it, sign in a White House, and then move
Speaker 5: it back and then whatever they want to change it to,
Speaker 5: send it over and let us vote on it. If
Speaker 5: it passes, pass it fine, If it doesn't it fine,
Speaker 5: But the deal is holes would be off. That's all
Speaker 5: they have to do is do the policy the right way.
Speaker 5: But they don't want to do that. They want to dictate,
Speaker 5: you know, to us what they're going to do because
Speaker 5: again they think they can do it because they they've
Speaker 5: ran righted everything through for the last three years. And
Speaker 5: I'm not going to stand for it. The American people
Speaker 5: and the people Alabama deserve representation, vote on this. That's
Speaker 5: what this country is about.
Speaker 2: Sir.
Speaker 16: Have you been okay with for the past years decades
Speaker 16: your genital concerns are one of the top reasons why
Speaker 16: women who are fighting overseas happy get evacuated back to
Speaker 16: United States, which could cost up to ten thousand dollars.
Speaker 16: A lot of that has to do with reproductive care.
Speaker 16: That's US taxpayer dollars as well. Are you okay with
Speaker 16: that policy?
Speaker 5: Like I said, we've had a policy what since nineteen
Speaker 5: eighty four, there has not been one complaint from anybody
Speaker 5: about how it's been done, taken care of. There have
Speaker 5: been abortions, but now, unfortunately it just happened after Row
Speaker 5: Wade and President Biden and his group said well, we
Speaker 5: can't handle what's going back to the States, but we
Speaker 5: can handle federal employees. Now we got a briefing on this.
Speaker 5: They couldn't give us the stipulations on this, whether you
Speaker 5: know it's going to be late term abortion where there's
Speaker 5: be the three exceptions. They have no clue of what
Speaker 5: this policy is. They just wanted to change it to
Speaker 5: let the American people know, hey, we can do what
Speaker 5: we want to and I'm not going to allow them
Speaker 5: to do it.
Speaker 15: Getting back to the issue of military families, while you're
Speaker 15: still with us here, Senator, those who are living in
Speaker 15: temporary housing and in some cases going without pay increases
Speaker 15: that their families were counting on, because that, of course
Speaker 15: hinges on confirmation. What is your message today to our
Speaker 15: viewers and specifically the more than thirteen thousand active duty
Speaker 15: service members in your state, many of them with families.
Speaker 15: Is this simply the cost of enlisting in today's military.
Speaker 5: Yeah, we need better house and I'll tell you that,
Speaker 5: and we work every day to try to get better housing.
Speaker 6: We pass some.
Speaker 5: Bills to build better housing. On some of these bags.
Speaker 15: They can't get into that housing without a confirmation.
Speaker 5: Right, It just depends. Now we're talking about three hundred people.
Speaker 5: We're not talking about the other one point five million
Speaker 5: of our military personnel that actually do the work.
Speaker 14: Not the generals and admirals.
Speaker 5: They live in taj Mahal's, they have these big f
Speaker 5: offices over to Pentagon, driving around in black SUVs with
Speaker 5: an entourage. I'm not talking about the corporals and lieutenants
Speaker 5: and the colonels and the majors, the people that actually
Speaker 5: do the readiness. These people here in the Pentagon, I mean,
Speaker 5: there are a lot of them running around here that
Speaker 5: they got real cushy jobs. I'm ready to get maybe
Speaker 5: not get rid of some generals. We have forty four
Speaker 5: four star generals. Won't you think about that for one
Speaker 5: point five million troops. In World War Two we had
Speaker 5: twelve million troops and we had seven four star generals.
Speaker 5: It makes no sense. We are top heavy here. But
Speaker 5: again that's not the problem. And the problem here is
Speaker 5: Chuck Schumer refuses to do what's right and bring these
Speaker 5: people to the floor and confirm them. And again, we
Speaker 5: could have had this already done if they had to
Speaker 5: have been hard headed and say we want our way
Speaker 5: or we're not going to do it. And so it
Speaker 5: is what it is. And again everybody's wanting finger at me.
Speaker 5: Chuck Schumer is at faultier. He is the guy, the
Speaker 5: leader that's supposed to be running the Senate, and he's
Speaker 5: doing a poor job of it.
Speaker 1: This is Bloomberg Daybreak Today, your morning brief on the
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