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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. Markets are counting down to

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Speaker 1: the Fed's rate decision next week. We got the August

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Speaker 1: Producer Price Index earlier. Bloomberg's Michael McKee breaks down those numbers.

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Speaker 2: The PPI comes in up two tenths, a little stronger

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Speaker 2: than expected for the headline, three tenths, also stronger than

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Speaker 2: expected for the core, and three tenths for food and

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Speaker 2: ex food, energy and trade.

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Speaker 1: Bloomberg's Michael McKee weekly jobless claims rose for the first

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Speaker 1: time in three weeks, albeit by a small clip of

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Speaker 1: just nine tenths of one percent. The European Central Bank

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Speaker 1: cut its key interest rate by twenty five basis points

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Speaker 1: for the second time this year. ECP president Christine Legard

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Speaker 1: said now is the time to act, while the International

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Speaker 1: Monetary Fund says fears about China's industrial subsidies are misplaced.

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Speaker 1: Bloomberg's Yvon Mann has more from Hong Kong.

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Speaker 3: The charge amounts to implicit criticism of US claims that

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Speaker 3: China is dumping industrial overcapacity on the rest of the world.

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Speaker 3: IMF economists say China's aid to manufactures has only a

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Speaker 3: modest effect on exports. They say support has been concentrated

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Speaker 3: in areas including software, electric vehicles, computer chips, and green technology.

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Speaker 3: These areas only account for a fraction of China's overseas shipments.

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Speaker 3: The IMF calls it quote an incomplete view to say

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Speaker 3: Beijing's traded industrial policy could lead to layoffs and plant

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Speaker 3: closings and other economies. The IMF analysis follows its own

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Speaker 3: scathing critique of US deficits, debt and trade policies in

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Speaker 3: its annual report card. In June, in Hong Kong, am

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Speaker 3: I von Mann Bloomberg Radio.

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Speaker 1: General Motors is in discussion to buy EV batteries that

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Speaker 1: would use technology from China's CATL, Bloomberg's minmin Low as

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Speaker 1: more from Hong Kong.

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Speaker 4: The batteries would be assembled and a new plant to

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Speaker 4: be built in the US. We hear the factory would

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Speaker 4: be funded and operated by Japan's TDCA. Such a technology

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Speaker 4: licensing arrangement might help avoid scrutiny by US lawmakers and

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Speaker 4: the Biden administration. The US has been wary of collaboration

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Speaker 4: with China on key technologies, including EV batteries. Separately, GM

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Speaker 4: and Hunde, adjoining forces to explore joint production of GUS

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Speaker 4: powered engines and vehicles that could help GM obtain more

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Speaker 4: scale after earlier shrinking its global footprint in Hong Kong.

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Speaker 4: I'm in Minlo Bloomberg Radio.

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Speaker 1: If you've been wondering about another presidential debate between former

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Speaker 1: President Donald Trump and Vice President Kamala Harris, well, Bloomberg's

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Speaker 1: Amy Morris in Washington tells us, now we have a

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Speaker 1: pretty good indication that is not going to happen.

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Speaker 5: Donald Trump ruled out another debate with an all caps

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Speaker 5: declaration on truth social quote. There will be no third debate,

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Speaker 5: He insists he won their first debate, so he doesn't

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Speaker 5: need to participate in another one. Vice President Kamala Harris

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Speaker 5: spoke at a campaign event in Charlotte, North Carolina, shortly

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Speaker 5: after Trump's statement, where she said the candidates quote owe

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Speaker 5: it to the voters to have another debate. It is

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Speaker 5: not clear if the vice president was directly responding to

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Speaker 5: Trump's post. Trump and Harris's running mates, Republican Senator j

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Speaker 5: D Vance of Ohio and Democratic Minnesota Governor Tim Wallas,

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Speaker 5: are slated to hold their own debate on October first,

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Speaker 5: with CBS News in Washington, Amy Morris, Bloomberg Radio.

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Speaker 1: New York City Police Commissioner Edward Caban resigned after a

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Speaker 1: little more than a year running the biggest US police force.

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Speaker 1: This comes inmit a federal investigation that led to agents

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Speaker 1: searching his home this month. Investigators sees the phones of Caban,

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Speaker 1: his twin brother James, as well as several other police officers,

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Speaker 1: including Edward Cobban's chief of staff, Ral Pinto's. Yesterday, New

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Speaker 1: York City Mayor Eric Adams accepted Caban's resignation.

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Speaker 6: He concluded that this is the best decision at this time.

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Speaker 4: I respect his decision and I wish him well.

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Speaker 1: The probe is one of at least three and to

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Speaker 1: members of Adams's inner circle. That would include one who

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Speaker 1: was involved in his twenty twenty one election campaign. Meantime,

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Speaker 1: disgraced movie mogul Harvey Weinstein has been indicted on additional

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Speaker 1: sex crimes more from Bloomberg's John Tucker.

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Speaker 7: The new grand jury indictment remains under seal and prosecutors

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Speaker 7: won't reveal the new charges, but at a recent court hearing,

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Speaker 7: authorities presented the grand jury with evidence of up to

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Speaker 7: three additional allegations dating as far back as the mid

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Speaker 7: two thousands. Weinstein's conviction and sentencing to twenty three years

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Speaker 7: in prison were hailed as landmarks in the Me too movement,

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Speaker 7: but New York's highest court in April tossed the verdict.

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Speaker 7: Weinstein is recovering from heart surgery. He was rushed from

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Speaker 7: Rikers Island jail earlier this week to the hospital. He

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Speaker 7: faces a retrial in November. I'm John Tzucker, Bloomberg.

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Speaker 1: Radio, Innother News. President Biden is planning a major foreign

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Speaker 1: policy event later this month in his hometown. Bloomberg's Nathan

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Speaker 1: Hager has more from Washington.

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Speaker 6: The President is hosting the Quad, the leaders of Australia, Japan,

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Speaker 6: and India, for a summit next weekend and in Wilmington, Delaware.

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Speaker 6: The White House says the hometown location is a reflection

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Speaker 6: of the President's deep personal relationships with each of the

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Speaker 6: Quad leaders. It also reflects one of Biden's top foreign

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Speaker 6: policy priorities to boost ties in the Asia Pacific against

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Speaker 6: the growing economic and military cloud of China. This will

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Speaker 6: be the last Quad summit for President Biden and for

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Speaker 6: Japanese Prime Minister Fumyo Kushita, who's stepping down himself later

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Speaker 6: this month. In Washington, I'm Nathan Hager, 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 Brian Curtis. This is Bloomberg