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

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Speaker 2: At Edwards and I'm Stephen Carroll.

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Speaker 1: UK inflation has accelerated to an eighteen month high. According

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Speaker 1: to the latest data, consumer prices rose three point eight

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Speaker 1: percent year on year in July, marking an increase from

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Speaker 1: the previous month and the fastest paced since January twenty

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Speaker 1: twenty four. The figures aud to evidence that firms are

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Speaker 1: responding to the government's recent tax and minimum wage increases

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Speaker 1: by passing on extra cost to consumers. Melanie Baker is

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Speaker 1: a senior economist at Royal London Asset Management.

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Speaker 3: I think if I look at where the surprise comes from,

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Speaker 3: it seems to be airfes and we know that's a

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Speaker 3: very volatile component. Looking at the ONS write up, it

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Speaker 3: seems to have been affected by the different timing of

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Speaker 3: school holidays and when they took the price readings for

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Speaker 3: things that I just I'm not getting too carried away

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Speaker 3: with this number.

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Speaker 1: Melanie Baker, speaking there as traders further trimmed bets on

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Speaker 1: Bank of England rate cuts following the CPI print. The

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Speaker 1: probability of another reduction by December is now around forty

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Speaker 1: two percent, as resurgent inflation collides with a cooling labor market.

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Speaker 2: Global stocks have paused their record breaking run as concerns

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Speaker 2: grow that the rally of recent months has advanced too

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Speaker 2: far and too fast. The sell off was driven by

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Speaker 2: big tech companies on Wall Street yesterday, with the Nastak

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Speaker 2: closing down one point four percent. Futures are pointing to

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Speaker 2: further losses today. That's ahead of Nvidia reporting earnings next week.

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Speaker 2: Daryl Kronk, CIO for Wealth and Investment at Wells Fargo,

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Speaker 2: says he remains bullish on the techcent sector because of

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Speaker 2: their earnings growth.

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Speaker 4: You've got to go where growth resides, and there's just

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Speaker 4: no doubt that that's where the growth is. You saw

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Speaker 4: in the latest second quarter earnings numbers. You know, you

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Speaker 4: take the seven largest stocks, their earnings growth were twenty

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Speaker 4: nine percent. If I take X, those earnings growth was

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Speaker 4: like three and a half.

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Speaker 2: Wells Fargo's Darl Kronk speaking to Bloomberg earlier, as traders

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Speaker 2: are firming up bets on a September interest rate cuts

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Speaker 2: from the Federal Reserve.

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Speaker 1: European countries now developing a plan to send British and

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Speaker 1: French troops to Ukraine as part of a potential peace

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Speaker 1: deal between Kiev and leaders are said to be looking

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Speaker 1: to leverage President Trump's support for a package of security

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Speaker 1: guarantees that would involve European boots on the ground with

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Speaker 1: possible US air support. Here's what the US President told

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Speaker 1: Fox News.

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Speaker 5: When it comes to security, they're willing to put people

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Speaker 5: on the ground. We're willing to help them with things,

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Speaker 5: especially probably if you talk about by air, because as

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Speaker 5: nobody has kind of stuff we have, really they don't have.

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Speaker 5: But I don't think it's going to be a problem.

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Speaker 5: I think if a deal is made, you know, famous

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Speaker 5: last words, right, But I think if a deal has made,

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Speaker 5: I think Russia's had it. They've all had it and

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Speaker 5: for a very extended period of time. I don't think

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Speaker 5: there'll be a problem. But so there'll be some form

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Speaker 5: of security. It can't be NATO because that was that's

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Speaker 5: just not something that would ever ever happen.

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Speaker 1: He couldn't those comments on Fox News Kmas bloomberg Lund.

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Speaker 1: Trump called Hungary's Prime Minister Victor Auban on Monday after

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Speaker 1: European leaders pressed him to intervene in Ukraine's stalled EU

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Speaker 1: membership bit EU leaders say Ukraine's membership is part of

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Speaker 1: broader security guarantees, but Auburn has described the idea as

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Speaker 1: quote unnecessary and dangerous.

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Speaker 2: The UK government faces legal action from more local authorities

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Speaker 2: after a council won a court battle to stop a

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Speaker 2: local hotel being used to house asylum seekers. The Bell

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Speaker 2: Hotel and Epping east of London has been at the

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Speaker 2: center of protests in recent weeks, some of which have

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Speaker 2: turned violent. District council leader Chris Whitbread says the decision

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Speaker 2: showed the government cannot ignore planning rules.

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Speaker 6: We always knew the Bell Hotel was the wrong location

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Speaker 6: because of its close proximity to schools and other parts

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Speaker 6: of the community. It was never going to work out.

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Speaker 6: This is not a victory today. This is a ruling

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Speaker 6: for common sense.

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Speaker 2: With Bred's success raises questions over the government's practice of

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Speaker 2: using hotels to house asylum seekers Across the UK. The

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Speaker 2: Labor government's first year in office has seen illegal crossings

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Speaker 2: of the English Channel rise to a new record high,

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Speaker 2: stoking public anger about controlling migration.

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Speaker 1: Thousands of firefighters, aided by soldiers and aircraft, are continuing

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Speaker 1: to tackle wildfires across Spain. Although temperatures across the country

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Speaker 1: have begun to drop in recent days, Spain is still

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Speaker 1: confronting one of its most destructive fire seasons in recent decades.

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Speaker 1: The fires have killed four people and burned more than

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Speaker 1: three hundred and eighty thousand hectares of land, equivalent to

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Speaker 1: an area more than twice the size of London.

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Speaker 2: And the number of CEOs being forced out of their

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Speaker 2: jobs in the United States is on the rise, and

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Speaker 2: it's more expensive. According to the independent research provider exec

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Speaker 2: change dot com, one hundred and thirty four bosses were

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Speaker 2: pushed out of russell three thousand firms in the past year.

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Speaker 2: Bloomberg has spoken to compensation consultants, pr experts, and executive

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Speaker 2: search advisors to try to find the true cost of

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Speaker 2: firing a CEO. Chase Wilcock has more.

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Speaker 7: Get your Calculators out. Bloomberg estimates the median compensation for

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Speaker 7: a forced out US boss was six point two million dollars,

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Speaker 7: the sign on fee for their replacement another nine million.

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Speaker 7: And then there's the new higher pay packet. The one

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Speaker 7: hundred top earning CEOs accompanies with more than one billion

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Speaker 7: dollars in revenue are paid twenty two percent more than

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Speaker 7: last year. According to pay consultant Equila, that's a median

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Speaker 7: of thirty one million dollars. So factor in the millions

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Speaker 7: in lawyers, plus payments to the rest of the board,

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Speaker 7: and the whole exercise is a lot more expensive than

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Speaker 7: showing the boss the way to the exit in London.

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Speaker 7: James Wilcock, Bloomberg Radio.

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Speaker 1: That's news when you want it. With Bloomberg News Now,

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Speaker 1: I'm an At Edwards

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Speaker 2: And I'm Stephen Carroll, and this is Gloomberg