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

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Speaker 1: in Kleenki. The Federal Reserve and other regulators are poised

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Speaker 1: to unveil sweeping changes to a slate of proposed capital

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Speaker 1: rules for banks as they seek to overcome tougher resistance

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Speaker 1: from the industry. This according to people familiar with the matter.

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Speaker 1: The revisions, which run up to four hundred and fifty pages,

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Speaker 1: may be unveiled as soon as September nineteenth, and would

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Speaker 1: reshape key components of the US bank capital regime known

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Speaker 1: as Basel three endgame. This, according to the people, who

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Speaker 1: asked not to be identified, as the plans may change.

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Speaker 1: Former Treasury Secretary Lawrence Summers says that while the August

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Speaker 1: employment report wasn't particularly poor, it did make predicting the

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Speaker 1: size of the Federal Reserve's likely interest rate cut this

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Speaker 1: month a tougher call.

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Speaker 2: I think because of the weakness, it's looking like a

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Speaker 2: closer call for twenty five versus fifty in September than

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Speaker 2: was my guess a month, a month or two ago.

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Speaker 1: Bloomberg contributor Larry Summers speaking with David Weston on Wall

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Speaker 1: Street Week. Federal Reserve Governor Christopher Waller said it is

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Speaker 1: important for the US Central Bank to begin cutting interest

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Speaker 1: rates this month amid rising risks a further weakening in

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Speaker 1: the labor market. Waller said he's also open minded about

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Speaker 1: the potential for a bigger rate cut and would advocate

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Speaker 1: for one if appropriate. Waller said the balance of risks

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Speaker 1: has shifted toward the employment side of our dual mandate,

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Speaker 1: adding that policy needs to adjust accordingly, and the current

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Speaker 1: patch of data no longer requires patients, it requires action. Broadcom,

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Speaker 1: a chip supplier for Apple and other big tech companies,

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Speaker 1: suffered its worst stock route in four years after giving

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Speaker 1: a disappointing sales forecast. Hurt by the parts of its

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Speaker 1: business that are not tied to artificial intelligence, the shares

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Speaker 1: declined more than ten percent in New York Friday, the

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Speaker 1: biggest intra day drop since the early days of the pandemic.

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Speaker 1: Back in March twenty twenty. The stock had been up

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Speaker 1: thirty seven percent the shay year before the tumble. Top

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Speaker 1: aids to President Joe Biden have been crafting a proposal

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Speaker 1: to create a sovereign wealth fund, which would allow the

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Speaker 1: US to invest in national security interests, including technology, energy,

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Speaker 1: and critical links in the supply chain. This, according to

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Speaker 1: a person familiar with the effort, The behind the scenes

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Speaker 1: work by National Security Advisor Jake Sullivan and his deputy

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Speaker 1: Dali P. Singh mirrors, at least in spirit, a proposal

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Speaker 1: floated Thursday by Republican presidential candidate Donald Trump, who called

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Speaker 1: for a government owned investment fund to finance great national endeavors.

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Speaker 1: A Blue Origin mission to send satellites to Mars will

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Speaker 1: be delayed until at least early twenty twenty five over

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Speaker 1: concerns about whether the Jeff Bezos backed firm would be

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Speaker 1: ready to launch his plan this year. We get more

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Speaker 1: in that from Bloomberg's Charlie Pellett.

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Speaker 3: Now So says we'll forego in October flight to avoid

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Speaker 3: significant cost, schedule and technical challenges associated with potentially removing

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Speaker 3: fuel from the space in the event of a launch delay.

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Speaker 3: NASA says it's assessing other launch opportunities and has discussed

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Speaker 3: with Blue Origin a window no earlier than next spring.

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Speaker 3: The schedule upheaval underscores the difficulties for Blue Origin as

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Speaker 3: it ramps up production of New Glen, which is already

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Speaker 3: four years overdue. In New York. Charlie Palett Bloomberg Radio.

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Speaker 1: Intel is said to be making a major strategy overhaul.

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Speaker 1: Bloomberg has learned the chip maker could explore the sale

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Speaker 1: of its stake in its struggling automated driving systems provider

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Speaker 1: Mobile Eye Global. Intel could offload some of its eighty

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Speaker 1: eight percent holding in Mobile Eye on the public market

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Speaker 1: or through a sale to a third party. The company

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Speaker 1: is also weighing options for its network and edge business.

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Speaker 1: The Friday numbers on Wall Street capping the worst week

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Speaker 1: for stock since March of last year. The Dow was

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Speaker 1: down four hundred and ten points, Nasdaq fell four to

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Speaker 1: thirty seven, and the S and P lost ninety five.

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Speaker 1: And the NFL played its first ever game in Brazil

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Speaker 1: Friday night, with the Philadelphia Eagles defeating the Green Bay

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Speaker 1: Packers thirty four twenty nine. And that's news when you

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Speaker 1: want it with Bloomberg News. Now, I met Koleggi, and

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Speaker 1: this is Bloomberg