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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning, I'm Lisa Matteo and I'm Karen Moscow. Here

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Speaker 2: are the stories we're following today.

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Speaker 3: Karen, we begin with the latest efforts to end the

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Speaker 3: warren Ukraine. President Trump is meeting with Ukrainian President Vladimir

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Speaker 3: Zelensky at the White House to discuss air, defense and

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Speaker 3: energy assistants. Bloomberg's Amy Morris reports from Washington.

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Speaker 4: Ukrainian officials have offered to share expertise in drone technology

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Speaker 4: and production in exchange for US weapons and energy. Zelensky

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Speaker 4: is also expected to discuss the possibility of the US

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Speaker 4: exporting liquefied natural gas to help with Ukraine's energy needs,

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Speaker 4: and may offer US oil companies use of Ukraine's pipeline infrastructure.

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Speaker 4: This comes just a day after President Trump and Russian

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Speaker 4: President Vladimir Putin agreed to meet in Budapest to discuss

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Speaker 4: an end to the war in Ukraine. White House Press

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Speaker 4: Secretary Caroline Levitt they.

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Speaker 5: Also agreed to of a high level senior staff meeting

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Speaker 5: convene as early as next week.

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Speaker 4: Levitt says President Trump will also talk with Zelensky today

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Speaker 4: about meeting with Putin. In Washington, Amymore as Bloomberg Radio.

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Speaker 2: All Right, Amy, thank you. Canadian Prime Minister Mark Kearney

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Speaker 2: is weighing in on the Russia Ukrainian War. In an

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Speaker 2: interview with Bloomberg's Michelle Hussein, Karney says NATO should keep

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Speaker 2: all options open if Russia violates its airspace and it

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Speaker 2: does what's necessary to protect the alliance. Carney says Russia's

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Speaker 2: use of jets and drones over European members of NATO

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Speaker 2: should be viewed as a sign of weakness, not strength.

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Speaker 6: Russia's under pressure. Russia's under pressure. They're trying what they

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Speaker 6: can to shift, but they're under economic pressure their military situation.

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Speaker 6: They were making some progress over the course of the summer.

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Speaker 6: That progress has stopped.

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Speaker 2: And you can listen to the full conversation between Michelle

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Speaker 2: Hussein and the Canadian Prime Minister Mark Kearney. Just searched

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Speaker 2: the Michelle Hussin Show where wherever you get your podcasts

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Speaker 2: or on the Bloomberg podcast channel on YouTube.

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Speaker 3: All right, Karen. The first New York City mayor Old

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Speaker 3: Debate is in the books. Bloomberg's John Tucker joined us

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Speaker 3: now in Manhattan with the very latest John looks like

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Speaker 3: it was a heated debate.

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Speaker 7: Yeah, and one of the more heated issues affordability, with

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Speaker 7: Democrats socialist frontrunner Zoron Mundani behind a rent freeze on

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Speaker 7: rent control departments.

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Speaker 8: The last Rent Guidelines Board study showed that profits were

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Speaker 8: up twelve percent for landlords of those units.

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Speaker 4: And what do they do? They raised the rent.

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Speaker 7: And former governor now independent candidate Andrew Cuomo pointed out

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Speaker 7: that's unworkable.

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Speaker 3: Freeze the rent only postpones the rent because then you

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Speaker 3: have to have an increase to cover the costs.

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Speaker 9: Otherwise the building is going to go bankrupt.

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Speaker 7: And Republican Curtis Leewo chimed in, we have twenty five

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Speaker 7: Empire State buildings full of commercial space that will never

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Speaker 7: be occupied for office space.

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Speaker 8: We should be converting them into affordable apartments. Their indents

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Speaker 8: areas the infrastructure can shut it.

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Speaker 7: Pressed on how they would handle President Trump, mom Donnie,

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Speaker 7: who walked to the NBC debate venue at thirty Rockefeller

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Speaker 7: Plaza from Trump Tower accompanied by a brass band, said

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Speaker 7: he would stand up the president while also being willing

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Speaker 7: to work with him on lowering costs and affordability. Cuomo

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Speaker 7: warned if Mom Donnie wins it will be mayor Trump A.

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Speaker 7: Sliwa also cautioned that taking two contentious atone with the

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Speaker 7: president would end up hurting the city. A second and

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Speaker 7: final debates scheduled for next week in New York. I'm

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Speaker 7: John Tucker, Bloomberg.

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Speaker 2: Radio Ray John, thank you. In DC, the government shutdown

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Speaker 2: enters its third week. Democrats continue to urge the extension

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Speaker 2: of Affordable Care Act tax credit, so Republicans say they're

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Speaker 2: not negotiating until the government's reopened. Senate Majority leader Republican

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Speaker 2: John Thune says he offered Democrats the opportunity to vote

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Speaker 2: to extend tax credits. Democratic Senate minority leader Chuck Schumer

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Speaker 2: says he wants to negotiate behind closed doors.

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Speaker 10: We're not negotiating in public.

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Speaker 8: Plane and simple Boon has not come to me with

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Speaker 8: any proposal at this point.

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Speaker 2: And Chuck Schumer and Democrats remain installed in the Senate

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Speaker 2: and House majority leader Mike Johnson says Republicans are holding

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Speaker 2: firm on their position too.

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Speaker 3: I don't like being mad, Mike.

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Speaker 11: I want to be happy, Mike.

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Speaker 7: I want to be the happy warrior.

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Speaker 2: But I am so upset about this and Republican House

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Speaker 2: majority leader Mike Johnson says his party will debate Obamacare

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Speaker 2: subsidies after the government reopens Karen.

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Speaker 3: Former Trump administration National security advisor John Bolton has been

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Speaker 3: indicted over allegedly mishandling classified documents. Bolton was charged with

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Speaker 3: eighteen counts by a federal grand jury in Maryland, and

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Speaker 3: federal prosecutor secured an arrest warrant. Bloomberg's Kate Sullivan has

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Speaker 3: more from Washington.

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Speaker 5: This indictment comes, you know, just weeks after indictments against

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Speaker 5: Jim Comey and Latitia James. After Comy was indicted, Trump

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Speaker 5: suggested that there were more people his administration were targeting,

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Speaker 5: clearly part of a retribution campaign that Trump has been

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Speaker 5: signaling for a long time now.

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Speaker 3: Bloomberg's Kate Sullivan's Bolton has been an outspoken critic of

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Speaker 3: Donald Trump. He served for more than a year in

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Speaker 3: the president's first administration.

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Speaker 2: Let's turn to the markets now, Lisa, where futures are

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Speaker 2: lower once again following yesterday sell off on Wall Street,

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Speaker 2: and the drop comes on concerns over the credit health

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Speaker 2: of some banks. Two regional banks, Science Bank Corp. And

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Speaker 2: Western Alliance Bank Corps. Say they were victims of suspected

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Speaker 2: fraud on loans time to distress property funds and again

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Speaker 2: more from Bloomberg Finance reporter Jenny Serraine.

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Speaker 12: In both of these cases, what they're talking about is

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Speaker 12: not something that's mission critical or going to actually impact

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Speaker 12: what these banks have from a capital perspective. But I

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Speaker 12: think it just speaks to this broader investor fear that

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Speaker 12: we've been in such a good credit environment for so

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Speaker 12: long that they're afraid that these banks have gotten a

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Speaker 12: little bit lazy and that they're not doing what they

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Speaker 12: should be doing on the underwriting front, on the risk

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Speaker 12: management front, on the new year customer front. And so

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Speaker 12: every time you see these kind of you know, fraud

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Speaker 12: or other issues or high profile bankruptcy, that's why you

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Speaker 12: see all these investor jitters kind of coming to the fore.

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Speaker 2: And Bloombergy Finance reporter Jenny Sarraine says the problems with

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Speaker 2: the regional banks spread to the entire banking industry. Seventy

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Speaker 2: four of the biggest US banks shed more than one

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Speaker 2: hundred billion dollars in market value.

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Speaker 3: Well shares of Eli, Lilly and Novo Nordis they're falling.

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Speaker 3: This is after President Trump said the price of the

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Speaker 3: blockbuster diabetes drug Ozempic could come down to just one

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Speaker 3: hundred and fifty dollars a month. The US list price

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Speaker 3: of ozempic is roughly one thousand dollars for a month's supply.

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Speaker 3: Trump told reporters that the cost of the drug made

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Speaker 3: by Novo will soon be much lower. Lily sells similar treatments,

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Speaker 3: including Goovi end zip Bound.

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Speaker 2: And it's time now for look at some of the

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Speaker 2: other stories making news in New York and around the world.

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Speaker 2: And for that we're joined by Bloomberg's Michael Barr.

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Speaker 10: Michael, Good Morning, Good morning Karen. President Donald Trump is

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Speaker 10: warning a Moss that we will have no choice but

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Speaker 10: to go in and kill them if internal bloodshed persists

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Speaker 10: in gazip The grim warning President Trump came after he

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Speaker 10: previously downplayed the internal islands in the territory. Since the

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Speaker 10: ceasefire and hostage deal between Israel and a Moss went

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Speaker 10: into effect last week, the President hasn't said how he'd

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Speaker 10: follow through on his threat, posted on his truth social platform. Meanwhile,

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Speaker 10: some eight trucks are now rolling towards the Gaza Strip.

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Speaker 10: UN Humanitarian chief Tom Fletcher was on hand to oversee

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Speaker 10: dozens of trucks loaded up with supplies in Egypt to

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Speaker 10: head to the Gaza border.

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Speaker 12: We know how to do this, We know how to

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Speaker 12: shift eight a massive scale, and when the politics align,

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Speaker 12: we can save hundreds of thousands of lives.

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Speaker 10: The UN's Tom Fletcher says the United Nations already has

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Speaker 10: two hundred and fifty trucks of food ready to go.

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Speaker 10: The same day, a federal grand jury handed down an

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Speaker 10: indictment against former Trump National security advisor John Bolton, another

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Speaker 10: adversary of the president is speaking out on her case.

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Speaker 10: New York Attorney General Latisia James, who was indicted last

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Speaker 10: week on mortgage fraud charges, says she is totally innocent.

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Speaker 4: It's baseless.

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Speaker 9: It's nothing more than retribution, retribution for basically doing my job,

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Speaker 9: for doing my job following a two year investigation in

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Speaker 9: a congressional hearing. It wasn't political, it was based on

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Speaker 9: facts and the application of the evidence, and the judgment

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Speaker 9: was sustained.

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Speaker 10: President Trump has railed against James and called for her

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Speaker 10: arrest after she successfully convicted him, his family, and his

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Speaker 10: business in a civil fraud case in New York. We've

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Speaker 10: lost a member of Kiss. Ace Frehley, the original lead

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Speaker 10: guitarist of the hard rock band, has died after a

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Speaker 10: recent fall in his home in Morristown, New Jersey. Frehley

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Speaker 10: was with Kiss from nineteen seventy three to nineteen eighty

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Speaker 10: two and then from nineteen ninety six to two thousand

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Speaker 10: and two. Ace Frehley was seventy four Global news twenty

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Speaker 10: four hours a day and whenever you want it with

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Speaker 10: the Bloomberg News. Now Michael Barr, and this is Bloomberg Karen.

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Speaker 10: Thanks Michael.

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Speaker 2: Time now for our Bloomberg Sports update, and for that

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Speaker 2: we bring in John stash Hour.

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Speaker 8: If Darren looks like the Dodgers are going back to

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Speaker 8: the World Series. They beat Milwaukee three to one. They

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Speaker 8: lead the NLCS three games to none. The Brewers have

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Speaker 8: only nine hits in three games. The ALCS is tied

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Speaker 8: to two. The road team has won every game Toronto.

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Speaker 8: Another one sided win in Seattle eight to two, the

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Speaker 8: win to forty year old Max Schurzer. The quarterbacks in

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Speaker 8: Cincinnati both forty years old and Joe Flacco really outplayed

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Speaker 8: Aaron Rodgers. The Bengals in an upset beat the Steelers

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Speaker 8: thirty three thirty one. That's your Bloomberg Sports update.

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Speaker 4: Stay with us.

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Speaker 2: More from Bloomberg day Break coming up after this.

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Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 1: and around the world on Bloomberg dot Com and the

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Speaker 1: Bloomberg Business Appum, this is Bloomberg Daybreak.

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Speaker 3: It is thirteen on Wall Street. Well, President Donald Trump

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Speaker 3: said he plans to hold a second meeting with Russian

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Speaker 3: President Vladimir Putin in Budapest to end the war with Ukraine.

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Speaker 3: Now that announcement comes as the President gets ready to

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Speaker 3: meet with Ukrainian President Vladimir Zelenski today. Here to tell

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Speaker 3: us more about this is Bloomberg's Jill Deesis. Jill, thanks

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Speaker 3: for joining us once again. So President Trump said he

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Speaker 3: would hold this next meeting with President Putin within two

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Speaker 3: weeks or so. I mean, it comes after this two

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Speaker 3: hour phone call yesterday between the leaders. That's a long

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Speaker 3: phone call, two hours. Do we know anything about what

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Speaker 3: was discussed?

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Speaker 11: Yes, Good morning, Lisa. We do have some sense of

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Speaker 11: what was ultimately discussed here. I think really what this

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Speaker 11: ultimately comes down to, though, is it seems quite unusual

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Speaker 11: that Trump would kind of preempt his meeting that we's

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Speaker 11: expecting with Zelensky in order to talk with Putin. Obviously,

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Speaker 11: the war in Ukraine is something that really really frustrates Trump.

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Speaker 11: This is something that one time, you know, only about

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Speaker 11: a year ago or so, he was saying that he

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Speaker 11: would ultimately be able to bring the end to in

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Speaker 11: a day. What he told reporters in the Oval office

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Speaker 11: after this meeting was, you know, kind of that you

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Speaker 11: equivocated a bit on the possibility of sending some long

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Speaker 11: range Tomahawk missiles as well as the Senate push for

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Speaker 11: pushing sanctions against Russia. I think, you know, really the

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Speaker 11: question here is, ultimately, when you look at how Trump

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Speaker 11: has really behaved when it comes to this conflict, particularly

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Speaker 11: over the past month or so, he's gotten a lot

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Speaker 11: colder toward Putin and gotten a bit warmer towards Zelensky,

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Speaker 11: I think the question is whether or not, you know,

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Speaker 11: this phone call with Putin indicates that, you know, maybe

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Speaker 11: there's still some things that are up in the air

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Speaker 11: when it comes to resolving this conflict.

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Speaker 3: Now, when it comes to resolving the conflict, so Trump

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Speaker 3: said he was optimistic that the second meeting could result

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Speaker 3: in a ceasefire, but I mean, didn't there August meeting

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Speaker 3: in Alaska kind of fail to get one. How are

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Speaker 3: things different this time around?

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Speaker 11: Yes, I think yes. I mean, look, you're coming off

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Speaker 11: of this Alaska meeting where we really didn't see a

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Speaker 11: whole lot. I mean, if anything continued to see Putin

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Speaker 11: in Russia, you know, continue to be aggressive. I think

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Speaker 11: one of the big concerns about you know, first of all,

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Speaker 11: the fact that Trump has had this call with Putin,

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Speaker 11: the fact that he's going into this meeting with Zelensky

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Speaker 11: and then trying to make some kind of a summit

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Speaker 11: with Putin happen within you know, two weeks or so.

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Speaker 11: That's really you know, Trump's favored unit of time at

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Speaker 11: this point. So still a little bit concerning is a

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Speaker 11: one that actually happens here, But it kind of by

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Speaker 11: by talking to Putin and then sort of setting up

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Speaker 11: this summit, kind of removes a little bit of the

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Speaker 11: pressure that we had seen Trump sort to mount against

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Speaker 11: Putin to bring an end to this conflicts, you know,

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Speaker 11: only almost kind of opens the door, you know, for

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Speaker 11: some kind of continued negotiations here. So I do think

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Speaker 11: that's what's a little bit different this time around. Now,

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Speaker 11: whether that actually results in a ceasefire. I think remains

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Speaker 11: to be seen, really really keen to see what happens

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Speaker 11: after the Zelensky visit today, because obviously Zelenski's going into

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Speaker 11: that meeting with them, you know, a lot of his

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Speaker 11: own aims. But yeah, I think it's again just a

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Speaker 11: very interesting question is how this ultimately affects the Trump

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Speaker 11: Putin relationship going into that potential summit here.

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Speaker 3: Yeah, and you touched upon this, Jill, So how did

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Speaker 3: that then, you know, that phone call, that too r

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Speaker 3: phone call. How does that set the stage for the

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Speaker 3: meeting today between President Trump and Vladimar Zelensky.

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Speaker 11: Well, I think it does raise questions about how much

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Speaker 11: commitment Trump may have to some of the efforts in

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Speaker 11: terms of, you know, uh, the Ukraine seeking help from

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Speaker 11: the US First War efforts. So what we're expecting to

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Speaker 11: see Zelensky discussing this meeting is the possibility of the

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Speaker 11: US exporting liquefied natural gas helping with Ukraine's energy needs,

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Speaker 11: you know, potentially, you know, the idea of Zelensky discussing

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Speaker 11: with Trump air defense, long range weaponry, urgent energy assistant.

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Speaker 11: So again, the fact that it seemed like Trump equivocated

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Speaker 11: on a little bit of that during his talk with Putin.

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Speaker 11: Does raise that question of how much, you know, the

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Speaker 11: US might go forward with you know, any of these

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Speaker 11: concerns that Zelensky has. Again, I think all of this

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Speaker 11: just really kind of you know, raises a lot of

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Speaker 11: questions about what a ceasefire ultimately looks like and ultimately

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Speaker 11: how much momentum you could see the US sort of

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Speaker 11: building a lot of these discussions with Zelenski and then

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Speaker 11: ultimately going forward with Putin. I mean, remember, the other

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Speaker 11: big question in all of this too is where the

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Speaker 11: EU comes into this, because Trump has been you know,

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Speaker 11: pretty pretty hard on the idea of the EU needing

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Speaker 11: to sort of step up and be a really really

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Speaker 11: central player here. So obviously he loves sort of brokering deals.

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Speaker 11: But again, it just there's a lot of questions.

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Speaker 3: Yeah, and this all of course coming on the heels

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Speaker 3: of securing that ceasefire between Israel and haw Maas. I mean,

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Speaker 3: does that provide a little bit more confidence that a

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Speaker 3: similar result it could happen in Ukraine?

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Speaker 11: Yeah, I mean I do think that it does a

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Speaker 11: little bit, right, you know, obviously, still some questions over

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Speaker 11: that ceasefire as well. You know, we've seen, you know,

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Speaker 11: various accusations about how much you know, you know, some

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Speaker 11: are holding. But you know, that certainly was a significant

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Speaker 11: breakthrough here, and you know it was a win for Trump.

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Speaker 11: So again, I think that if you're Donald Trump, you're

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Speaker 11: probably looking to build on the momentum of that as well.

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Speaker 11: Certainly gives Trump some confidence going into some of these negotiations.

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Speaker 11: So you know, we'll see how that tone is reflected.

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Speaker 11: I think when Trump meets with Selensky later today.

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Speaker 3: I'm gonna throw another name in here, Hunger here in

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Speaker 3: Prime Minister Victor Ormond. He posted his excitement about the

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Speaker 3: meeting on social media between Trump and Putin. Why did

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Speaker 3: they chose choose Budapest? I'm just curious.

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Speaker 11: Yeah, I think that's you know, also, you know, quite interesting.

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Speaker 11: I think if you're europe you might be there's some

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Speaker 11: some European allies of the United States you might view

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Speaker 11: that particular choice with some skepticism. That idea of you know,

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Speaker 11: is uh is Putin trying to drive a wedge between

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Speaker 11: the US and Europe as Putin meets with Trump in particular.

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Speaker 11: But you know that that mostly because Orbon has really

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Speaker 11: been the target of a lot of, you know, really

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Speaker 11: fierce criticism from the EU and from NATO allies for

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Speaker 11: maintaining close ties with Russia even after the war broke out.

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Speaker 11: So I do think it's you know, quite an interesting

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Speaker 11: choice obviously, something that Putin must favor, you know, quite

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Speaker 11: quite a bit. So again I think, you know, there's

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Speaker 11: still seems to be a lot of logistics working out.

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Speaker 11: Trump's also got some you know, other pretty significant international

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Speaker 11: visits to contend with as well, So we'll see how

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Speaker 11: things get on.

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Speaker 3: And in the last minute we have Jian. What can

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Speaker 3: we expect moving forward? I mean, has the tone changed

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Speaker 3: before we get into these talks.

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Speaker 11: Yeah, I think that, you know, at this point, certainly

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Speaker 11: the not a ton of progress being yielded out of Alaska,

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Speaker 11: this idea. Now that you know, Trump is obviously preempting

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Speaker 11: this meeting with Zelensky by talking to Putin, you know,

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Speaker 11: it's it raises some questions about you know, how much

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Speaker 11: sort of Trump is looking at this in terms of

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Speaker 11: how to work on negotiation, because again he had been

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Speaker 11: you know, souring a bit on Putin in favor of

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Speaker 11: Zelensky actual in Ukraine, and that's really certainly a tonal

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Speaker 11: shift that we saw from earlier this year. Does the

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Speaker 11: pendulum swing it all the other way? I think is

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Speaker 11: one thing. I think you know, ultimately though Trump he

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Speaker 11: really just wants, you know, another another victory in terms of,

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Speaker 11: you know, trying to proclaim that he's brought an end

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Speaker 11: to conflict. So I do think that that's part of

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Speaker 11: his motivations here in making something happen. Whether he's actually successful,

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Speaker 11: I think, you know, certainly remains we seen.

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