Speaker 1: Good morning.
Speaker 2: I'm Nathan Hager and I'm Karen Moscow. Here are the
Speaker 2: stories we're following today.
Speaker 3: It is day two of the NATO summit in Lithuania.
Speaker 3: Ukrainian President Vladimir Zelenski is there and he says he
Speaker 3: plans to fight for more security guarantees from allies, new
Speaker 3: weapon baggage, just for supporting our army on the battlefield,
Speaker 3: and that is one the.
Speaker 4: Second I think the invitation to need to and we
Speaker 4: want to be on the same page with everybody.
Speaker 2: President Zelenski wants a clearer timeline for Ukraine to join NATO,
Speaker 2: but it's not likely to come out of this summit.
Speaker 2: Bloomberg's and Marie horne Dern is covering the gathering in
Speaker 2: Lithuania and brings us the very.
Speaker 5: Latest NATO leaders are promising to invite Ukraine when members
Speaker 5: agree and conditions are met. But when those conditions are met,
Speaker 5: they say that this will be a swift ascension process,
Speaker 5: really trying to break down some of the bureaucracy that
Speaker 5: comes with a country becoming a member of the Alliance.
Speaker 5: But it wasn't good enough for l Zelenski. He's scolding
Speaker 5: the Alliance, saying that they want.
Speaker 6: A clear cut time frame.
Speaker 5: And I spoke to Demitro Koleba, the country's foreign minister,
Speaker 5: and he said that the conditions already being met. The
Speaker 5: issue is the lack of political will.
Speaker 4: Well, these decisions they make our path to NATO shorter,
Speaker 4: and they could have done it faster too, if there
Speaker 4: was a clear indication when the invitation to Ukraine would
Speaker 4: be extended.
Speaker 5: Ukraine's path forward into the Alliance will be on full
Speaker 5: display today when Zelenski joins the summit and sits down
Speaker 5: with President Biden. Anry Hordern, Bloomberg News, Lithuania, Thank.
Speaker 7: You, am Marie.
Speaker 3: Back here in the US, Saudi involvement in sports is
Speaker 3: in focus. Senators held a three hour hearing on the
Speaker 3: PGA's planned merger with Livgolf. Amy Morris has more from
Speaker 3: our Bloomberg ninety nine to one newsroom in Washington.
Speaker 6: Committee chair Richard Blumenthal says his investigation is looking at
Speaker 6: how a quote brutal regime can take over an American
Speaker 6: institution to clean its public image.
Speaker 2: How bad sums of money can induce individuals and institutions
Speaker 2: to portray their own values and supporters, or perhaps reveal
Speaker 2: a lack of values.
Speaker 6: But PGA Tour executives defend the planned merger. COO Ron
Speaker 6: Price says the agreement was made to protect the PGA
Speaker 6: from ongoing litigation with Live Golf.
Speaker 8: We pursued a piece that would not only end the
Speaker 8: divisive litigation battles, but would also maintain the PGA Tour structure.
Speaker 6: The deal is not done. There are still details to
Speaker 6: work out, including financing, and the Justice Department could still
Speaker 6: nullify it in Washington, I maybe more as Bloomberg Daybreak.
Speaker 2: A right, Amy, thank you for the markets this morning.
Speaker 2: It's all about inflation data. We get a key CPI
Speaker 2: report this morning and economists say US inflation probably moderated
Speaker 2: in June, but not enough to keep the Fed from
Speaker 2: hiking rates again. Amanda Gatti is chief investment officer at
Speaker 2: PNCST Management.
Speaker 9: We're in the camp that CPI will come in lower AKA,
Speaker 9: we're gaining on it. When we look at that data,
Speaker 9: we look at how strong the labor market continues to be,
Speaker 9: and you know, fairly strong housing related data, fairly strong
Speaker 9: consumer all of that is really enough, Ammo, in our
Speaker 9: view for the Fed to take another step.
Speaker 2: And Amanda Agati with pncsaid management thinks the Fed will
Speaker 2: raise rates another twenty five basis points two weeks from today.
Speaker 3: Well, we also have some regulatory news out of Washington, Karen.
Speaker 3: The Federal Trade Commission is plotting its next move after
Speaker 3: a judge ruled against the agency's effort to block Microsoft's
Speaker 3: takeover of Activision. More from Bloomberg's Doug Prisner.
Speaker 10: We're told the FTC is leaning toward filing an appeal
Speaker 10: as soon as today. A federal judge found the FTC
Speaker 10: did not prove the deal would harm competition for gaming,
Speaker 10: but Robert Landy of the University of Baltimore Law School
Speaker 10: said the law only requires the agency to show a
Speaker 10: deal may substantially lessen competition, not that it will or
Speaker 10: is likely too. The judge extended in order, blocking Microsoft
Speaker 10: from closing the deal until midnight Pacific time. I'm on Friday.
Speaker 10: The FTC would need to seek an emergency stay to extend.
Speaker 10: The question is whether the appeals court would rule before
Speaker 10: the deal's deadline on July eighteenth in New York. I'm
Speaker 10: Deug Prisner, Bloomberg Daybreak.
Speaker 2: All Right, Doug, thanks well, staying with chech. Some of
Speaker 2: the biggest names in the industry are gathering at Allen
Speaker 2: and Company's annual conference today. Bloomberg's Ed Ludlow is also
Speaker 2: there and filed this report from sun Valley, Idaho.
Speaker 11: This year Some Valley, the Allen and Co. Conference is
Speaker 11: really just getting back to what it's known for technology, media, telecoms,
Speaker 11: and deals lots as well. In the field of AI.
Speaker 11: Sam Altman is here, and my understanding from sources is
Speaker 11: that he'll be a keynote speaker speaking on behalf of
Speaker 11: open Ai, which has been the hot name in the
Speaker 11: field of artificial intelligence. The story a year ago was
Speaker 11: one thing Elon Musk buying Twitter. Well, Elon Musk isn't
Speaker 11: here this year, but Mark Zuckerberg is, and with the
Speaker 11: successful launch of Threads, could he be the big name
Speaker 11: that everyone wants to talk to. This is just day one.
Speaker 11: It's going to be a long week, Ed Ludlow for
Speaker 11: Bloomberg News in Some Valley, Idah.
Speaker 12: Thanks Ed.
Speaker 3: Turning to politics now, former President Trump's being ordered to
Speaker 3: face trial on the remaining case against him.
Speaker 7: From E.
Speaker 3: Gene Carroll. More from Bloomberg's at Baxter.
Speaker 13: It's another legal blow to Trump as the Justice Department
Speaker 13: reverses it stands on this case. It now says it
Speaker 13: does not feel there is enough evidence to conclude that
Speaker 13: he was acting with the scope of his employment as
Speaker 13: president when he allegedly defamed her by claiming she had
Speaker 13: lied about an alleged sexual assault. This removed a final
Speaker 13: barrier to a trial that is to start in January.
Speaker 13: Trump had argued that he had protection as a federal
Speaker 13: employee over allegations relating to official duties in San Francisco.
Speaker 13: I'm at Baxter Bloomberg.
Speaker 3: Daybreak Time now to take a look at some of
Speaker 3: the other stories making news in New York and around
Speaker 3: the world with Bloomberg's Michael Bark and Body Michael.
Speaker 7: Good Morning, Nathan. A new band on almost all abortions
Speaker 7: in Iowa after roughly six weeks of pregnancy has been
Speaker 7: exclusively supported by Republicans. Tensions flared during a special session
Speaker 7: of lawmakers ordered by GOP Governor Kim Reynolds. Republican state
Speaker 7: representative Shannon Lundgren says she did not want to entertain
Speaker 7: possibilities in cases where an abortion is needed to determine
Speaker 7: the law.
Speaker 8: At this point, you're giving a hypothetical and I'm not willing.
Speaker 7: To guess However, Mazie still well with planned parenthood. Advocates
Speaker 7: of Iowa says they are prepared to quickly challenge the law.
Speaker 8: It is consistent that a growing majority of Ioland's want
Speaker 8: safe and legal abortion in most of all cases, and
Speaker 8: this bill runs completely contradictory to that.
Speaker 7: Governor Reynolds says she plans to sign the bill into
Speaker 7: law on Friday. North Korea has fired a long range
Speaker 7: missile after threatening to shock the US. The test follows
Speaker 7: a warning to the US over spy planes flown off coasts.
Speaker 7: The missile flew from Pyongyang and splashed down in waters
Speaker 7: west of Japan. The NYPD says four people, including two
Speaker 7: young children, shot at a park in the Bronx. Police
Speaker 7: say two suspects wearing masks and riding an illegal scooter
Speaker 7: pulled up to the park and fired shots into a crowd.
Speaker 7: In my PD Chief of Patrol John Shell says it's
Speaker 7: not clear yet who was the intended target or what
Speaker 7: the motive was for the shooting. Once again, we have
Speaker 7: a recovering theme in the city, illegal bikes, illegal firearms,
Speaker 7: and people who pull those firearms. Chief Shell says. All
Speaker 7: of those shot are expected to survive. One of Charles
Speaker 7: Manson's followers, is now free after decades in prison for murder.
Speaker 7: The California Department of Corrections and Rehabilitation says Leslie van
Speaker 7: Houden was released to parole supervision. Unionized Hollywood actors on
Speaker 7: the verge of a strike have agreed to allow a
Speaker 7: last minute intervention from federal mediators. Their contract expires late tonight.
Speaker 7: If no deal is reached, the actors could join already
Speaker 7: striking screenwriters and a work walk out that would grind
Speaker 7: Hollywood production to will halt. Global News twenty four hours
Speaker 7: a day, powered by more than twenty seven hundred journalist
Speaker 7: and analysts in over one hundred and twenty countries. I'm
Speaker 7: michae Le Barr, and this is Bloomberg, Nathan.
Speaker 12: Thank you, Michael.
Speaker 3: Time now for our Bloomberg Sports update. Here with that
Speaker 3: the All Star John Stashowers.
Speaker 7: All right, Nathan.
Speaker 12: A low scoring All Star game in Seattle late afternoon
Speaker 12: shadows part.
Speaker 7: Of the reason for that.
Speaker 12: Both teams did hit a home run from guys with
Speaker 12: the same last name, Tampa Bay's Yond Diaz seconding off
Speaker 12: Pittsburgh's Mitch Keller, but then Colorado's leaz Diaz eighth inning
Speaker 12: with a man on that off Baltimore's Felix Bautista that
Speaker 12: was the game winning shot. Is the NL one three
Speaker 12: to two to end a nine game All Star losing
Speaker 12: straight d as the MVP the Phillies, Craig Kimball survived
Speaker 12: a long flyout and two walks bottom of the night
Speaker 12: to earn the saint he pitched in the last NL
Speaker 12: win back in twenty twelve. Fifty nine players got into
Speaker 12: the game, including the Yankees Garrett Cole. He started, pitched
Speaker 12: the top of the first, and the Mets Pete Alonzo
Speaker 12: went over two with two strikeouts. Show Hey Otani struck
Speaker 12: out walked both times. Mariners fans chanted come to Seattle.
Speaker 12: Altani expected to be a free agent after the season.
Speaker 12: And Wimbledon, Novak Djokovic reached the semi finals for the
Speaker 12: forty sixth time in a Grand Slam that tis Roger
Speaker 12: Federer's record, and into the women's semis is Alena s Fiddelina,
Speaker 12: an upset of top seeded egast Rion Teks. Fiddelina ranked
Speaker 12: seventy six. He was invited to play as a wild card.
Speaker 12: She gave birth only nine months ago and she is
Speaker 12: from war torn Ukraine.
Speaker 14: First, many videos also on the internet where the kids
Speaker 14: are watching on their phones, and you know this really mixed.
Speaker 14: My heart melts seeing this, and you know, just happy
Speaker 14: I could bring little happiness to people of Ukraine.
Speaker 12: Quarter finals wrap up today. The Rangers have signed defenseman
Speaker 12: KeAndre Miller.
Speaker 7: To a two year extension.
Speaker 12: John Stashedward Bloomberg sports.
Speaker 7: From coast to coast, from New York to San Francisco,
Speaker 7: Boston to Washington, DC, nationwide on Syria's exam, the.
Speaker 10: Bloomberg Business app in Bloomberg dot Com.
Speaker 7: This is Bloomberg Daybreak.
Speaker 3: Good morning, I'm Nathan Hager. Support for Ukraine in its
Speaker 3: fight against Russia that will dominate the discussions on this
Speaker 3: final day of the NATO leader summit in Lithuania. Already
Speaker 3: there has been discussion of bilateral security guarantees and a
Speaker 3: faster path for Ukraine to join the Alliance or at
Speaker 3: least be invited, but Ukrainian President Vladimir Zlensky says he
Speaker 3: will fight for more commitments. Zelensky is at the summit
Speaker 3: in Vilnius, so is Bloomberg's and Marie Hordern, who joins
Speaker 3: me now and Marie good morning, It's good to speak
Speaker 3: with you again. Is bilateral security commitments going to be
Speaker 3: enough for President Zelenski?
Speaker 15: Good morning, Well, Zlenski's going to court show his appreciation.
Speaker 15: But I think it's pretty obvious given Helen test. He
Speaker 15: was yesterday with this tweet hitting back at NATO because
Speaker 15: they didn't describe in their communication language a concrete plan
Speaker 15: for Ukraine's pass forward in NATO. But they really want
Speaker 15: is a time frame, and he really just lashed out
Speaker 15: on Twitter before he even arrived. But today he'll be
Speaker 15: sitting down with the President Biden. They'll be also another
Speaker 15: engagement with other G seven leaders, and I spoke to
Speaker 15: the Foreign Minister Dmitri Kuleba, who said that Ukraine just
Speaker 15: feels as though they have met these commitments. Obviously when
Speaker 15: you hear the president talk about it, they feel that
Speaker 15: more work needs to be done before they're admitted, but
Speaker 15: they feel as though they've met these commitments and that
Speaker 15: it is a lack of political will. So this has
Speaker 15: been a debate really for weeks leading up to the summit.
Speaker 15: Give a lot of Eastern European members who say that
Speaker 15: there should be a more direct, concrete time frame for Ukraine.
Speaker 15: To join, and then others who are just a little
Speaker 15: bit more concerned and want a more ambiguous dial wording
Speaker 15: regarding Ukraine's pass forward and want to focus more on
Speaker 15: the security guarantees they can give the country right now.
Speaker 3: Interesting to hear you point out the potential split here
Speaker 3: between some of the Eastern NATO allies and the Western
Speaker 3: member nations because these Eastern nations, of course are closer
Speaker 3: to the front lines of this Ukraine Russia conflict. What's
Speaker 3: the potential for a split to come out of this
Speaker 3: NATO summit.
Speaker 15: Well, this woit has already happened. But this was the
Speaker 15: language that they were able to coalesce around, So I
Speaker 15: think it's pretty much done. Essentially, some grumblings on the
Speaker 15: sidelines for some of these countries who didn't think the
Speaker 15: wording language went so far. At the same time, the
Speaker 15: President is going to come out and what the White
Speaker 15: House is billing as a quote major address, we'll talk
Speaker 15: about how they were able to keep NATO together during
Speaker 15: Russian's invasion of Ukraine. They're still able to give Ukraine
Speaker 15: a massive amount of military help and support, and at
Speaker 15: the same time, it was at this summit that NATO
Speaker 15: expanded yet again. Finland is their first time at the
Speaker 15: summit that they are full member. But of course at
Speaker 15: this summit they were able to knock out an agreement
Speaker 15: with Turkey, which took months of arduous diplomatic debate and
Speaker 15: back and forth between Sweden, Turkey, the United States and
Speaker 15: Sulzenberg involved in negotiations, but finally they were able to
Speaker 15: give a green light to Sweden. So all the behind
Speaker 15: the scenes there will be grumbling and there'll be others
Speaker 15: who say it a success, but the wording is already done,
Speaker 15: so you're likely just going to hear the Ukrainians really
Speaker 15: push for the fact that they want to keep working
Speaker 15: with NATO to get a concrete timeline, at the same
Speaker 15: time that they are incredibly grateful for the support of
Speaker 15: the United States and others.
Speaker 3: As you know, there was so much positivity coming out
Speaker 3: of the steps that we're taken to bring Sweden closer
Speaker 3: into the NATO umbrella. Does Sweden's experience what it's gone
Speaker 3: through to get to this point provide some kind of
Speaker 3: a blueprint for Ukraine eventually getting that invitation.
Speaker 15: Sweden was just a different situation because Turkey has specific
Speaker 15: objections about Kurdish groups that operate within their territory. Erdwan
Speaker 15: has said and said yesterday that he has no issues
Speaker 15: with Ukraine joining. The issues are really what came down
Speaker 15: to individual states and potentially some members within the NATO
Speaker 15: blocks that has issued the state when it comes to Ukraine.
Speaker 15: There's a few issues that's play.
Speaker 2: One.
Speaker 15: The president has said that more work needs to be
Speaker 15: done when it comes to democratization within Ukraine with making
Speaker 15: sure they are fighting corruption. The other, of course, is
Speaker 15: the fact that there is a war currently on their
Speaker 15: sovereign territory that makes many NATO members incredibly uncomfortable, and
Speaker 15: potentially if they were going to provoke Russia further, if
Speaker 15: they gave a more concrete path forward, that is the
Speaker 15: issue really regarding Ukraine. But of course bring you back
Speaker 15: to two thousand and eight, we were in the same
Speaker 15: exact position fifteen years ago with Bush and Angela Merkel
Speaker 15: debating amongst each other about what kind of language they
Speaker 15: should use about a pass forward for Ukraine and Georgia.
Speaker 15: And we're almost at the same place we are then
Speaker 15: as we are today.
Speaker 1: This is Bloomberg day Break today, your morning brief on
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