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

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Speaker 2: Good morning, I'm Nathan Hager 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 this morning with new developments in the

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Speaker 3: Middle East. Israeli Prime Minister Benjamin Natanyahu has secured security

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Speaker 3: Cabinet approval for a military takeover of Gaza City, and

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Speaker 3: then Yahoo describes it as part of a final push

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Speaker 3: to topple Hamas after twenty two months of fighting and

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Speaker 3: to recover the militant group's final remaining fifty hostages. We

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Speaker 3: get more from Bloomberg Israel Bureau chief Ethan Bronner in

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Speaker 3: Tel Aviv.

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Speaker 4: The Prime Minister has said repeatedly for many months that

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Speaker 4: Israel must take over every square inch of Gaza in

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Speaker 4: order to clear it of Hamas' infrastructure and fighters and

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Speaker 4: governing authority so that Hamas and Gaza will never be

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Speaker 4: a threat again to Israel. So it's a very aggressive

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Speaker 4: act and we'll have to see where it goes. That

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Speaker 4: there are almost a million people living in Gaza City,

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Speaker 4: Israelis are going to forcibly evacuate them, to displace them

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Speaker 4: to go south, and at the same time with the

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Speaker 4: US they're talking about stepping up in a big way

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Speaker 4: the amount of food and aid that goes in in

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Speaker 4: order to take care of those people, at least in

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Speaker 4: some minimal fashion.

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Speaker 3: Bloomberg Zethan Bronner says, most polls show as Raeli's prefer

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Speaker 3: to see the war called off with hamas intact, if

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Speaker 3: that's the cost of recovering the hostages.

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Speaker 2: Now, Nathan the latest on the war in Ukraine. President

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Speaker 2: Trump had given Russia until today to reach a true

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Speaker 2: surface economic penalties. Now the President says he's willing to

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Speaker 2: meet with Russian President Vladimir Putin, with or without Ukrainian

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Speaker 2: President Vladimir Zelenski.

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Speaker 5: It's going to be up to him.

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Speaker 6: We're going to see what he has to say.

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Speaker 7: It's going to be up to him.

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Speaker 2: Very disappointing President Trump's Oval Office comments. So if a roade,

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Speaker 2: a White House official who'd said earlier that Putin would

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Speaker 2: need to agree to meet with Zelenski first. We get

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Speaker 2: more from Bloomberg's Tony Halpin.

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Speaker 5: So in many ways, this is Russia's ideal scenario. They've

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Speaker 5: long argued that the war in Ukraine isn't really against Ukraine,

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Speaker 5: that it's against the US and NATO, and that it's

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Speaker 5: being fought in Ukraine. And clearly, if they can demonstrate,

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Speaker 5: both to their people at home and in arguments abroad,

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Speaker 5: that they're sitting down with Trump to decide the war

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Speaker 5: in Ukraine, that only strengthens their argument.

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Speaker 8: That strengthens their hand.

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Speaker 5: In claiming that they're really dealing with the West rather

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Speaker 5: than having to confront the fact that they invaded Ukraine.

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Speaker 2: And as Bloomberg's Tony help in the Kremlin says, the

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Speaker 2: US and Russia have agreed on a venue and hope

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Speaker 2: to hold the talks next week.

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Speaker 3: Well, another major story we're following Karen involves the future

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Speaker 3: of the Federal Reserve. President Trump has nominated Council of

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Speaker 3: Economic Advisors chairman Stephen Myron to serve as a FED governor.

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Speaker 3: Bloomberg Zamy Morris reports from Washington. President Trump says Myron,

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Speaker 3: who will need to be confirmed by the Senate, would

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Speaker 3: only serve the remaining term of FED Governor Adriana Kugler,

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Speaker 3: which expires in January. Myron has been critical of the

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Speaker 3: Fed's track record and says tariffs are not like likely

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Speaker 3: to cause inflation pressure.

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Speaker 7: We've now got several months of data, and again there's

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Speaker 7: just zero macroeconomically significant evidence of price pressures from tariffs.

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Speaker 9: Stephen Myron, in a conversation just hours before the President's

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Speaker 9: announcement on Thursday with Balance of Power host Joe Matthew,

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Speaker 9: that view puts him somewhat at odds with Powell. The

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Speaker 9: FED chair has said that while the base case is

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Speaker 9: that tariff's effects on inflation could be short lived, FED

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Speaker 9: policymakers must guard against the alternative. In Washington, Amy Morris

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Speaker 9: Bloomberg Radio.

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Speaker 2: Amy, thank you well. Gold is trading near a record

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Speaker 2: high this morning. Right now co makes gold is it

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Speaker 2: thirty four eighty seven an ounce. This spike comes after

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Speaker 2: The Financial Times reported that bullion bars face US tariffs.

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Speaker 2: Begin more from Bloomberg Senior editor Bill Ferries.

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Speaker 7: It's one of these things that no one had on

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Speaker 7: their Bengo card. I think FT reporting that gold bars

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Speaker 7: at one kilogram, which are the most commonly traded form

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Speaker 7: on the gold futures market, that those will also be

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Speaker 7: subject to TARA and that was something I think traders

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Speaker 7: markets had really bet would not happen. That hits Switzerland hard.

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Speaker 7: It's another blow for them. They a lot of gold

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Speaker 7: comes in and out of Switzerland.

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Speaker 2: And Bloomberg's Bill Ferry says the levy will add to

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Speaker 2: troubles for Swiss President current Keller Sutter after President Trump

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Speaker 2: handed Switzerland the highest country tariff among developed nations.

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Speaker 3: Turning into some corporate news now, Karen Intel CEO Lipputan

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Speaker 3: says he has the full backing of his company's board.

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Speaker 3: That's after President Trump called for his resignation citing conflicts.

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Speaker 3: In a letter to staff posted on the Intel website,

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Speaker 3: Ton says he's reached out to the White House to

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Speaker 3: clear up what he calls quote misinformation about his track record.

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Speaker 3: Earlier this week, Republican Senator Tom Cotton asked the chairman

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Speaker 3: of Intel's board to answer questions about Ton's ties to China,

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Speaker 3: including investments in the country's semiconductor companies and others with

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Speaker 3: connections to its military.

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Speaker 2: Nathan, Japan's top trade negotiators, says the US has confirmed

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Speaker 2: it would end the stacking of universal riffs on Japan

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Speaker 2: and cut car levies as promised. His comments followed talks

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Speaker 2: in Washington on the details of last month's trade deal.

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Speaker 2: No official comment yet on the latest meetings from the

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Speaker 2: US side.

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Speaker 3: Let's get to the latest, Karen on the fight over

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Speaker 3: redistricting in the state of Texas. The latest is it's spreading.

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Speaker 3: Republican lawmakers in Florida talking now about redrawing their states

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Speaker 3: congressional map. Florida currently has twenty eight congressional districts, twenty

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Speaker 3: of them are held by Republicans. Meanwhile, Texas Senator John

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Speaker 3: Cornan says he's got the FBI involved in tracking down

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Speaker 3: the Democrats who left his state to block a vote

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Speaker 3: on their state's new map. House Minardi leader Hakim Jeffrey

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Speaker 3: says it's a ridiculous move.

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Speaker 6: The FBI should be spending its time chasing down violet criminals,

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Speaker 6: errorist drug traffickers, and child predators, not targeting political adversaries

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Speaker 6: in a democracy.

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Speaker 10: Here in America.

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Speaker 3: House Benardi leader Hakim Jeffreys is calling the Republican redistricting

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Speaker 3: effort in Texas a clear power grab.

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Speaker 2: Time now for look at some of the their stories

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Speaker 2: making news in New York and around the world, and

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Speaker 2: for that we're joined by Bloomberg's John Tucker.

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Speaker 10: John Good morning, Good morning, Karen. Extreme heat twills seared

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Speaker 10: down across the US Southwest, testing temperature records and putting

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Speaker 10: about seven and a half million people under a sweltering

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Speaker 10: high pressure dome. Bloomberg Mediornaldgist Craig allenenon.

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Speaker 6: This is quite a heat dome, and while parked in

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Speaker 6: the southwestern portion of the United States over the last

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Speaker 6: several days, it is going to be migrating towards the east.

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Speaker 10: A high pressure system is centered over the region, blocking cloudier,

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Speaker 10: rainier conditions and letting the temperatures build. The FBI facing

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Speaker 10: the most significant leadership shake up since Cash Bettel took

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Speaker 10: over as director. The Trump administration is forcing out more

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Speaker 10: senior officials, including a former acting director who resisted Trump

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Speaker 10: administration demands to turn over the names of the agents

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Speaker 10: who took part of the January six Capitol riot investigations.

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Speaker 10: Two Pennsylvania State troopers in stable condition and a woman

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Speaker 10: died after being shot in what officials say was a

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Speaker 10: calculated ambush. State Police Commissioner Christopher Paris.

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Speaker 11: Trooper Paroshinski was shot twice in the chest slash. Torso

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Speaker 11: Area Trooper Jenkins was shot twice as well, once in

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Speaker 11: each arm.

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Speaker 10: The ambush apparently started off as a dispute between two neighbors.

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Speaker 10: Pilli say the gunman was shot and killed. The New

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Speaker 10: York Mets will be honoring the sixtieth anniversary of the

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Speaker 10: Beatles performance at Chase Stadium more this morning from Bloomberg's

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Speaker 10: Charlie Pellet.

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Speaker 12: It happens August fifteenth. It's been a a nineteen sixty

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Speaker 12: five performance was a milestone because the Beatles became the

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Speaker 12: first rock band to perform a major stadium concert. The

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Speaker 12: first pitch will be thrown by members of the game

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Speaker 12: day staff who were working the famous consort. But after

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Speaker 12: the game, fans can stay put for a special theme.

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Speaker 8: Fireworks show in New York. Charlie Pellot's Bloomberg Radio who.

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Speaker 10: Global News twenty four hours a day, whenever you want it.

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Speaker 10: What Bloomberg knows now on John Tucker, This is Bloomberg.

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Speaker 10: Was like just yesterday, Karen.

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Speaker 2: Oh, don't tell me you were at that too, John,

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Speaker 2: I'm not taking that all right, John, thank you. It's

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Speaker 2: time now for the Bloomberg Sports Update. Here's John stash Hour.

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Speaker 13: John, Good morning, Morning Cares. Speaking of the Mets, they

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Speaker 13: lost eight of their last nine games. They played tonight

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Speaker 13: in Milwaukee, and the Brewers since July fifth are twenty

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Speaker 13: one and four they've won seventy games. Most of the

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Speaker 13: majors just had a six to zero road trip, although

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Speaker 13: Mets had a one in five homestand Yankees had a

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Speaker 13: one in five trip. They're back in the stadium to

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Speaker 13: play Houston seam that has had three recent ALCS wins

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Speaker 13: over the Yanks. Red Solas winners of seven and last eight.

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Speaker 13: I'm in San Diego. They'll face ex redslaff. Nick Pivetta,

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Speaker 13: who's eleven and three with the Padres in Toronto, said

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Speaker 13: that series sweep at Colorado by a combined score of

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Speaker 13: forty five to six. Blue Jays Tonight at the Dodgers

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Speaker 13: Battle of first place teams, that it's Max Scherzer against

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Speaker 13: Clayton Kershaw. Schurzer's got two hundred and eighteen career wins

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Speaker 13: in Kershaw two hundred and seventeen together in nearly sixty

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Speaker 13: five hundred strikeouts. The Jets preseason opener tomorrow night at

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Speaker 13: Green Bay. Jets have a new coach and a new quarterback,

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Speaker 13: and here's Aaron glenn on making sure Justin Fields remains company.

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Speaker 14: Listen, when you have that position at the quarterback, you

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Speaker 14: can't hide from dad. That's just part of when I

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Speaker 14: get it.

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Speaker 13: I do.

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Speaker 14: But that's the emotional maturity that we talk about. How man,

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Speaker 14: you can't let anything outside bother you. Man, just only

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Speaker 14: focus on the gas that's in house and only focus

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Speaker 14: on getting better every day because you can always hear

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Speaker 14: it and he understands the noises going. It's just part

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Speaker 14: of the business, so part of being.

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Speaker 13: A quarterback fields.

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Speaker 8: He said.

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Speaker 13: They've had some tough moments in training camp. Giants play

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Speaker 13: tomorrow afternoon in Buffalo. The Commanders and Patriots play tonight

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Speaker 13: in Foxborough. Ashley buck Tia with an opening around sixty two,

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Speaker 13: leads to Saint Joe Jude Golf in Memphis by one

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Speaker 13: over Tommy Fleetlot's got a Jefferdriels by five. Van Shelton

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Speaker 13: won the tennis final in Toronto on a third set tiebreaker,

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Speaker 13: the first American to win the event since Andy Ronnick

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Speaker 13: in two thousand and three. The women's winner was eighteen

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Speaker 13: year old Canadian Victoria m Boco, ranked eighty fifth coming in.

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Speaker 13: She had an upset of Coco Goffin in the final.

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Speaker 13: She beatn Naomi Osaka, John Stashawa, Bloomberg'sports Karen nycan.

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Speaker 1: Coast to Coast on Bloomberg Radio nationwide on Sirius Exam

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

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Speaker 1: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 8: Good morning.

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Speaker 3: I'm Nathan Hager. Israel's Security Cabinet has approved a plan

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Speaker 3: for a military takeover of Gaza City, Prime Minister Benjamin Natanya,

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Speaker 3: who describes it as a final push to the fIF

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Speaker 3: Ramas after nearly three years of fighting. The ultimate goal,

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Speaker 3: he says, is full control of the Gaza strip.

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Speaker 8: We intend to in order to assure our security, remove

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Speaker 8: Ramas there, enable the population to be free of Gaza

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Speaker 8: and to pass it to civilian governance. That is not

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Speaker 8: Camas and not anyone advocating the destruction.

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Speaker 3: To visual That was Israeli Prime Minister Benjamin Natanya, who

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Speaker 3: speaking to Fox News ahead of the Security Cabinet vote

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Speaker 3: and joining us this morning is Bloomberg News Israel Bureau

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Speaker 3: Chief Ethan Bronner. Ethan, good morning. Could this represent a

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Speaker 3: final phase in the war. What could the Israeli military

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Speaker 3: encounter if it does indeed push into Gaza City on

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Speaker 3: the ground?

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Speaker 8: Good morning, Good morning, Nathan.

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Speaker 4: Look, I mean it's going to encounter obviously, the kind

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Speaker 4: of guerrilla warfare that you know we've seen in Vietnam

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Speaker 4: and in Afghanistan and in Iraq. So yes, it's going

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Speaker 4: to certainly be bloody. What's going to happen now, in

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Speaker 4: theory is over the course of the coming weeks, Israel

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Speaker 4: is going to forcibly displace the many hundreds of thousands

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Speaker 4: of people who live in and around Gaza City to

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Speaker 4: the south. In theory, they're going to also step up

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Speaker 4: the provision of humanitarian aid to where they're to where

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Speaker 4: those folks are headed. And then several, perhaps six divisions

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Speaker 4: of Israeli soldiers are going to start moving into Gaza

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Speaker 4: City and to try to dismantle whatever remaining infrastructure and Hamas'

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Speaker 4: command structure exists. That is the plan.

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Speaker 3: Are the Israeli people behind this? There have been some

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Speaker 3: reticence in the past about going into Gaza City because

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Speaker 3: there was a thought that Hamas could be holding many

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Speaker 3: of the remaining hostages there.

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Speaker 4: Yes, you're right, I would say that public opinion at

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Speaker 4: the moment is essentially negative to skeptical. It's not totally

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Speaker 4: opposed because it does like the idea of trying to

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Speaker 4: eliminate Hamas, but it's very worried about the remaining hostages,

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Speaker 4: very worried about the soldiers going in. So I would

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Speaker 4: say that it is an uphill battle in public opinion

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Speaker 4: at the moment for this Prime Minister, in this government.

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Speaker 4: It has kind of felt that generally the world, the

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Speaker 4: US and even public opinion has been against a lot

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Speaker 4: of its bolder moves in Iran, in Lebanon, and they

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Speaker 4: feel that they have come out ahead in those endeavors

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Speaker 4: and that they will do so here as well.

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Speaker 3: And of course this is coming at a time that

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Speaker 3: you've written about extensively that Israel is pressing on with

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Speaker 3: this war despite the international outcry over the humanitarian crisis

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Speaker 3: in Gaza. A lot of Israelis have been starting to

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Speaker 3: speak out about that more as well. How could a

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Speaker 3: push into Gaza City exacerbate potentially what's happening in the

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Speaker 3: rest of Gaza right.

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Speaker 4: Now, Well, exactly, I mean, you're going to have hundreds

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Speaker 4: of thousands of people moving into a very small area

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Speaker 4: where there has not been enough medicine and food and

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Speaker 4: what people need to live decent life. And now you're

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Speaker 4: going to have more people. They say, with the help

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Speaker 4: of the United States, they're going to at least triple,

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Speaker 4: perhaps quadruple the amount of aid, the number of feeding stations,

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Speaker 4: and so on. But it has gone not well over

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Speaker 4: these last couple of months, and it seems likely to

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Speaker 4: continue to be a huge struggle. I mean, part of

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Speaker 4: it is just this incredibly difficult situation for everybody on

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Speaker 4: the ground has been there for nearly two years of this,

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Speaker 4: and the feeding stations aren't enough. And then there's of

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Speaker 4: course the internal attempt by Hamas and those who oppose

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Speaker 4: Israel and the United States to disrupt this whole procedure.

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Speaker 4: So I think we can expect a lot of pain

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Speaker 4: coming up for sure.

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Speaker 3: In our last minute Ethan, as we potentially prepare for

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Speaker 3: this invasion into Gaza's city. What about the thinking around

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Speaker 3: what comes after Hamas. We heard Nantayaho's saying there could

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Speaker 3: be some kind of civilian administration, But is that feasible.

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Speaker 4: Look, it's not my job to decide whether it's feasible

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Speaker 4: or not, but it is unquestionably difficult. That has been

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Speaker 4: this government's view that once Hamas has actually removed from Gaza,

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Speaker 4: then people there will no longer be afraid, it will

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Speaker 4: be willing to step forward as technocrats and as business

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Speaker 4: people to create a more decent situation. A lot of

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Speaker 4: people who think they know Gaza say that that is

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Speaker 4: very unlikely. And the other question is whether if this

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Speaker 4: government is not willing to let the palestine An authority

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Speaker 4: in and it says it's not so, who's left. So look,

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Speaker 4: I agree with you, it's very unclear whether it will work.

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Speaker 4: They think they have the people to make it work.

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Speaker 4: We will be watching.

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