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

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Speaker 1: mad Kalegy. Federal officials have opened an investigation into Jack Smith,

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Speaker 1: the former Special Council who investigated then candidate Donald Trump

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Speaker 1: before his reelection, for alleged illegal political activity. The Office

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Speaker 1: of Special Council and Independent Federal Agency Saturday confirmed the

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Speaker 1: investigation after reporting by other news organizations. Smith was named

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Speaker 1: special counsel to investigate Trump by then Attorney General Merrick

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Speaker 1: Garland in November twenty twenty two. Trump and his Republican allies,

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Speaker 1: including Senator Tom Cotton, accused Smith of violating the Hatch

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Speaker 1: Act of federal law that banned certain public officials from

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Speaker 1: engaging in political activity. Smith prosecuted two federal cases against

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Speaker 1: Republican candidate Trump in the lead up to the November

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Speaker 1: twenty twenty four presidential election. Smith ultimately dropped the cases.

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Speaker 1: OPEC members have apparently agreed in principle on another oil

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Speaker 1: production increase, this one four September, we get more from

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Speaker 1: bloom Berg's Denise Pellegrini.

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Speaker 2: A delegate tells US Saudi Arabia and its partners plan

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Speaker 2: to ratify the additional five hundred and forty eight thousand

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Speaker 2: barrels a day for next month when they hold a

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Speaker 2: video conference tomorrow, and this increase would complete the reversal

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Speaker 2: of a two point two million barrel cutback made by

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Speaker 2: eight members of the group back in twenty twenty three

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Speaker 2: as OPAK plus moves to reclaim its share of global

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Speaker 2: crude markets, and it also accounts for an extra allowance

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Speaker 2: being phased in for the UAE. Analysts, though are awarding the

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Speaker 2: market faces a mounting crude surplus later this year as

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Speaker 2: supplies increase and slowing global growth ways on demand. Denise

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Speaker 2: Pellegrine Bloomberg Radio.

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Speaker 1: Berkshire Hathaway is reporting a three point eight percent drop

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Speaker 1: in second quarter operating profit from a year ago and

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Speaker 1: blaming part of that on a decline in underwriting earnings

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Speaker 1: and its insurers, where performance was mixed. This according to

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Speaker 1: Bloomberg's Alex Rajbahandari.

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Speaker 3: Operating inarning to have decreased a little bit from last year.

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Speaker 3: This seems to be driven by lower underwriting earnings from

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Speaker 3: the insurance unit, and and list I've been speaking with

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Speaker 3: before the earnings were mentioning that there was a pressure

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Speaker 3: on pricing across the section, so that's not really surprising

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Speaker 3: It seemed, however, that Geico, the unit that ensures individual

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Speaker 3: guard owners, he's doing better and is spending more to

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Speaker 3: get more clients after losing some in recent years. So

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Speaker 3: this unit is a bright spot in the insurance unit.

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Speaker 1: Meantime, craft Hines is also weighing on results, with Warren

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Speaker 1: Puppet's conglomerate marking down the carrying value on its stake

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Speaker 1: by three point eight billion dollars to eight point four billion,

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Speaker 1: as for Berkshire's cash pile that fell slightly from previous

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Speaker 1: record highs. Steve Woodcock, President Trump's special envoid, told Israeli

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Speaker 1: hostage family Saturday that the US has a plan to

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Speaker 1: bring home all the remaining captives held by Hamas in

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Speaker 1: a sweeping deal and that an end to the war

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Speaker 1: was near. This according to a recording of the meeting

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Speaker 1: published by Israeli Channel twelve television. Whitcoff met the families

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Speaker 1: in Tel Aviv after attending an impromptu protest that was

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Speaker 1: held in Tel Aviv after Hamas released a video Friday

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Speaker 1: of a gone twenty four year old hostage Aviatar and David,

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Speaker 1: with David describing a lack of food while in captivity

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Speaker 1: in Gaza and urging Prime Minister of Benjamin Natanyahu to

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Speaker 1: end the war. The New York Times reports the fire

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Speaker 1: in Grand Canyon National Park in Arizona has grown to

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Speaker 1: more than one hundred and fourteen thousand acres amid dry

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Speaker 1: weather in a week monsoon season. The wildfire has burned

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Speaker 1: for nearly a month and exceptionally dry hot weather, growing

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Speaker 1: into the largest wildfire of the year so far in

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Speaker 1: the continental United States. The Dragon Bravo fire, which has

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Speaker 1: closed the park's north rim, Its size is expected to

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Speaker 1: increase incoming days because of dry, warm weather in The

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Speaker 1: fire was eleven percent contained as of Saturday. That's according

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Speaker 1: to insuweb, a government site that tracts wildfires. Smoke from

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Speaker 1: Canadian wildfires hovered over several Midwestern states Saturday, bringing warnings

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Speaker 1: of unhealthy air for at least the third day. Air

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Speaker 1: quality alerts were an effect in Iowa, Minnesota, Wisconsin, and Michigan,

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Speaker 1: as well eastern Nebraska and parts of Indiana and Illinois.

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Speaker 1: Doctor Justin Fiala is from Northwestern Medicine.

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Speaker 4: What we would recommend to people ultimately is that they're

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Speaker 4: trying to limit the amount of time that they're outdoors

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Speaker 4: or if they're going to be outdoors for longer periods

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Speaker 4: of time, consider things like ninety five or kN ninety

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Speaker 4: five masks, which are made to filter out ninety five

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Speaker 4: percent of these really small particles.

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Speaker 1: Canadian environmental officials set smoke from forest fires that was

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Speaker 1: causing reduced visibility and poor quality would persist into Sunday

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Speaker 1: for some areas. Crypto investors and seven figure dinners help

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Speaker 1: President Trump hall in an unprecedented amount of campaign cash

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Speaker 1: for a second term president. Bloomberg's Nathan Hager reports from Washington.

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Speaker 5: The president's political operation raked in two hundred and thirty

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Speaker 5: six million dollars in the first six months of this year.

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Speaker 5: Most of that one hundred and seventy seven million went

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Speaker 5: to the president's super pack, MAGA, Inc. Giving him a

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Speaker 5: huge war chest to deploy for House and Senate races

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Speaker 5: in the midterms at a time when the party in

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Speaker 5: power tends to lose seats. That a massive Hall outpaced

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Speaker 5: the Democratic National Committee more than threefold. The DNC raised

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Speaker 5: sixty nine million dollars in the first half In Washington.

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Speaker 5: 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 made Kleggi. This is Bloomberg