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Speaker 1: News when you want it with Bloomberg News Now, I'm

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Speaker 1: Brian Curtis in Hong Kong. The US Supreme Court has

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Speaker 1: ruled that Donald Trump has some immunity from criminal charges

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Speaker 1: for allegedly trying to reverse the twenty twenty election results.

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Speaker 1: The move all but ensure as a trial will not

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Speaker 1: happen before the November election. President Joe Biden was critical

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Speaker 1: of the ruling.

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Speaker 2: No one, no one is above the law, not even

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Speaker 2: the president of the United States. Today's Supreme Court decision

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Speaker 2: on presidential immunity that fundamentally changed for all, for all

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Speaker 2: practical purposes. Today's decision almost certainly means that there are

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Speaker 2: virtually no limits what the president can do.

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Speaker 1: Biden went on to call the ruling a quote dangerous precedent.

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Speaker 1: In the meantime, lawyers for the former president have asked

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Speaker 1: a New York court to set aside his hush money

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Speaker 1: conviction and delay sentencing. The Associated Press reports a letter

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Speaker 1: was sent to Judge Juan Mershan asking to put Bush

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Speaker 1: back sentencing while they weigh up the High Court's ruling.

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Speaker 1: The Democratic National Committee is considering formally nominating Joe Biden

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Speaker 1: as early as mid July. Bloomberg's Amy Morris has more

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Speaker 1: from Washington.

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Speaker 3: The strategy is to ensure that President Biden is on

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Speaker 3: November ballots and stamp out any intra party chatter of

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Speaker 3: replacing Biden after last week's poor debate performance. A potential

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Speaker 3: date for Biden's nomination is July twenty first, when the

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Speaker 3: Democratic Convention's Credentials Committee meets. Virtually that's according to people

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Speaker 3: familiar with the matter who spoke on condition of anonymity.

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Speaker 3: The panel is meeting to finalize procedures before the party's

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Speaker 3: convention in Chicago starts August nineteenth. In Washington, Amy Morris

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Speaker 3: Bloomberg Radio, We're.

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Speaker 1: On Central Bank Watch as we got more comments today

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Speaker 1: from both the FED and the ECB. New York Fed

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Speaker 1: President John Williams said that official is a confident that

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Speaker 1: inflation is on track to meet the Fed's two percent target.

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Speaker 1: In the meantime, ECB President Christine Legard struck a less

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Speaker 1: confident tone.

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Speaker 4: Still facing several uncertainties regarding future inflation, especially in terms

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Speaker 4: of how the nexus of profits, wages, and productivity will evolve,

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Speaker 4: and whether the economy will be hit by new supply

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Speaker 4: side shocks and it will take time for US to

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Speaker 4: gather sufficient data to be certain that the risks of

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Speaker 4: above target inflation have passed.

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Speaker 1: Christine Leguard her comments for feeding expectations that officials will

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Speaker 1: take a break from cutting interest rates this month. With

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Speaker 1: the Eurozone job market remaining robust, the ECB has some

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Speaker 1: time to assess the incoming information. However, Leguard says it's

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Speaker 1: too soon to claim victory after a spike in prices. Meantime,

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Speaker 1: US factory activity contracted. In June, the Institute for Supply

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Speaker 1: Management reported a third straight decline in its manufacturing index.

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Speaker 1: It reflects a slowdown in both production and hiring. Here's

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Speaker 1: Bloomberg's Michael McKee.

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Speaker 5: Innervative has been that the economy is sowing in the

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Speaker 5: ISM Manufacturing index suggests that narrative is still in place.

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Speaker 5: We get a reading of forty eight point five, which

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Speaker 5: is down from forty eight point seven in May. Other

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Speaker 5: than a brief peak above fifty in March of this year,

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Speaker 5: you have to go back to September of twenty twenty

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Speaker 5: two before you get a extended period above fifty.

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Speaker 1: Bloomberg's Michael McKee, the data may encourage the Fed to

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Speaker 1: move towards lower interest rates in sports related news. The

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Speaker 1: Boston Celtics ownership group says it is exploring a sale

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Speaker 1: of the team. We get more from Bloomberg's Tom Busby.

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Speaker 6: Just two weeks after the Boston Celtics one at all

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Speaker 6: Fatter Number eighteen has been secured. The Celtics are NBA champions.

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Speaker 6: The team is being put up for sale valued at

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Speaker 6: more than five billion dollars. In just the past year,

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Speaker 6: three other NBA franchises in Phoenix, Charlotte, and Dallas were

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Speaker 6: also sold, each for more than three billion, as deep

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Speaker 6: pocketed investors see teams as solid investments. Celtics general partner

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Speaker 6: and co owner Steve pally Yuka recently spoke with Bloomberg

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Speaker 6: about why valuations of teams are so high and still climbing.

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Speaker 7: And then fight for eyeballs between the new media you know,

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Speaker 7: such as such as Facebook and Apple and old media

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Speaker 7: the networks continues, and everyone wants properties to get eyeballs,

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Speaker 7: and the properties that get eyeballs are sports property, So

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Speaker 7: I think they're so room to go up.

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Speaker 6: And right now the NBA is negotiating a seventy six

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Speaker 6: billion dollar media deal with ESPN, Comcast, and Amazon. Tom

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Speaker 6: buzby Bloomberg Radio.

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Speaker 1: That's news when you want to ed with Bloomberg News Now,

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Speaker 1: I'm Brian Curtis. This is Bloomberg