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: We begin with the latest developments in the Middle East.
Speaker 3: President Biden says Israel and Hamasa should pause fighting to
Speaker 3: allow time to free more people from the Gaza Strip.
Speaker 3: Speaking in Minnesota, the President responded to a protester who
Speaker 3: demanded a full ceasefire.
Speaker 4: The United States are going to continue to drive humanitarian
Speaker 4: support pretas and people on Gaza who need help, and
Speaker 4: they do need help. We're going to continue to affirm
Speaker 4: that Israel has the right to respond responsibility to defended
Speaker 4: citizens from terror, and it needs to do so on
Speaker 4: a manner of those consistent international and humanitarian law.
Speaker 3: The presidents also hailed international efforts to open the Rafa
Speaker 3: border crossing, which allowed hundreds to leave the territory yesterday.
Speaker 3: Hamas says six hundred more are expected to leave today,
Speaker 3: including four hundred American citizens.
Speaker 2: Well, Nathan, we now turned to politics back home. Another
Speaker 2: attempt by fellow New York Republicans to expel Representative George
Speaker 2: Santos from the House fell short last night, and Bloomberg's
Speaker 2: Amy Morris has details from Washington.
Speaker 5: George Santos is indicted on fraud charges and accused of misconduct.
Speaker 5: The vote to remove him requires two thirds majority. House
Speaker 5: Speaker Mike Johnson argued that an expulsion should be contingent
Speaker 5: on a criminal conviction or some official finding of ethical misconduct.
Speaker 5: Santo says the vote was a victory for due process.
Speaker 1: I feel like due process is still alive.
Speaker 3: I feel like there's enough colleagues on both sides of
Speaker 3: the aisle here who understand that this.
Speaker 5: Was the second time Santos survived in expulsion vote. On
Speaker 5: Tuesday night, the Ethics Committee said it would reveal its
Speaker 5: next course of action by November seventeenth, regarding its inquiry
Speaker 5: into allegations of misconduct in Washington. I Mamy Moore as
Speaker 5: Bloomberg Radio, all.
Speaker 6: Right, Amy, thank you.
Speaker 3: Meanwhile, the civil fraud trial against former President Donald Trump
Speaker 3: has reached a key moment. The former president's oldest son
Speaker 3: has taken the stand. Donald Trump Junior told the judge
Speaker 3: he was not involved in preparing financial statements for his
Speaker 3: father's company. In his words, the accountants worked on it.
Speaker 3: New York Attorney General Letitia James accuses Trump and his
Speaker 3: two eldest sons of inflating asset values by billions illegal profits.
Speaker 3: Trump juniors do back on the stand today. The former
Speaker 3: president is set to testify on Monday.
Speaker 2: Well, Nathan, we have another big trial in New York
Speaker 2: and nearing its and jury deliberations could begin as soon
Speaker 2: as today. In the fraud trial of Sam bankman Fried Bloomberg,
Speaker 2: the legal reporter AVA Benny Morrison was in the courtroom
Speaker 2: for the closing arguments.
Speaker 7: Bank Munfree lawyer Mark Cohen has tended to use metaphors
Speaker 7: and his jury addresses in this trial, and he suggested
Speaker 7: that the government had wrongly painted Sam as a villain,
Speaker 7: as a monster in a Hollywood film about a grand
Speaker 7: fraud scheme. He said that certainly wasn't the case. Yes,
Speaker 7: at one point his client was probably the worst dress
Speaker 7: CEO in the country and had bad hair. To anyone
Speaker 7: and everyone, including journalists, had a messy life, but that
Speaker 7: wasn't a crime.
Speaker 2: And Bloomberg's eva, Bennie Morrison says macbin Freed is charged
Speaker 2: with seven counts of fraud and money laundering following the
Speaker 2: collapse of his ftx cryptocurrency last year.
Speaker 3: Karen, let's now turn to a busy day for the markets.
Speaker 3: Investors are still reacting to what appears to be a
Speaker 3: douvish pivot by j Powell. After holding rates steady for
Speaker 3: a second consecutive meeting, the Fed chairman hinted the central
Speaker 3: Bank may now be finished with the most aggressive tightening
Speaker 3: cycle in four decades. Jeffrey Rosenberg is a senior portfolio
Speaker 3: manager at black Rock. Clearly what the market saw was
Speaker 3: a preference for the worry of tightening financial conditions.
Speaker 6: We're at sufficiently restricted, we could be done, black Rocks.
Speaker 3: Jeff Rosenberg notes, following the Powell news conference, a ten
Speaker 3: year treasure yield tumbled below four point seventy five percent
Speaker 3: for the first time in two weeks. Still following this
Speaker 3: morning now at four point seventy two percent.
Speaker 2: And Nathan, we also get a policy decision overseas this morning.
Speaker 2: Economists expect the Bank of England to hold rates for
Speaker 2: a second consecutive meeting.
Speaker 3: Turning two earnings, shares of Shell are higher by two percent.
Speaker 3: Third quarter profit rows on a combination of higher energy prices,
Speaker 3: strong gas trading, and wider refining margins. The oil Jeff
Speaker 3: is also accelerating the pace of share buybacks well.
Speaker 2: Staying in Europe, Nathan. Barclay's is embarking on a plan
Speaker 2: to reduce its global workforce, but the British bank is
Speaker 2: planning to spare its Asia business from the bulk of
Speaker 2: job cuts. We spoke earlier with Barclay's CEO cs vn
Speaker 2: Kada Krishnan.
Speaker 8: In Asia, we of course have very booming economies and
Speaker 8: we also have a very growing business, so proportionately it's
Speaker 8: far less likely to impact this region.
Speaker 2: However, Barclay's CEO cs Van Kate Krishnan added that it
Speaker 2: would be ambitious for the bank to consider expanding into
Speaker 2: Wealth and China, and should instead focus on doing better
Speaker 2: in the UK.
Speaker 3: Let's turn back here to the US, Karen, because investors
Speaker 3: here are awaiting earnings from the world's most valuable company, Apple.
Speaker 3: It reports this afternoon, and we get a preview from
Speaker 3: Bloomberg's Tom Busby.
Speaker 9: Apple's iPhone fifteen lineup released on September twenty seconds, just
Speaker 9: about a week before the quarter rented, but the company
Speaker 9: will give investors early sales data on the new fifteens,
Speaker 9: hoping the show that it's off to a rate start
Speaker 9: ahead of the all important holiday season. Bloomberg consensus calls
Speaker 9: for Ernix per share of a dollar thirty nine revenues
Speaker 9: of eighty nine point three four billion, about half of
Speaker 9: that from smartphones. Tom Busby, Bloomberg Radio.
Speaker 2: All right, Tom, thanks well. Disney reports earnings next week,
Speaker 2: but it is making news this morning. The company is
Speaker 2: moving to take full control of the Hulu streaming service.
Speaker 2: Begin more from Bloomberg Stunt Risner.
Speaker 6: Complete ownership helps integrate Hulu into the Disney Plus streaming service,
Speaker 6: and now co owners Disney and Comcast must arrive at
Speaker 6: a price. Under a twenty nineteen deal, the two agreed
Speaker 6: Hulu would be worth no less than twenty seven and
Speaker 6: a half billion dollars. Where might the money come from.
Speaker 6: Disney could sell legacy assets like ABC and CEO Bob
Speaker 6: Iger is open to selling a minority stake in ESPN.
Speaker 6: In New York Time. Doug Prisoner, Bloomberg.
Speaker 2: Radio, Nathan, Thanks. It is time now for a look
Speaker 2: at some of the other stories making news around the world.
Speaker 2: For that, we're joined by Bloomberg's Amy Moore.
Speaker 5: Amy, Good morning, Good morning, Karen. Republican senators angrily challenged
Speaker 5: Senator Tommy Tubberville on his blockade of almost four hundred
Speaker 5: military officers taking over the Senate floor for more than
Speaker 5: four hours to call for individual confirmation votes after a
Speaker 5: month's long stalemate. Republican Dan Sullivan of Alaska warned of
Speaker 5: dire quants consequence by.
Speaker 3: The way Shujinping is watching us right now, going, I
Speaker 3: can't believe they're not letting these guys command.
Speaker 1: I'm scared the death of subs.
Speaker 5: Senator Sullivan says if the standoff continues in officers do
Speaker 5: leave the military, Tuberville's BLOCKABE will be remembered as quote
Speaker 5: non national security suicide mission. The House could vote today
Speaker 5: on a bill providing aid to Israel. It's the first
Speaker 5: legislation under the new House Speaker Mike Johnson. But Johnson's
Speaker 5: bill would not only uncouple the aid to Ukraine that
Speaker 5: the Biden administrator wanted, but also would redirect funding already
Speaker 5: earmarked for the IRS. West Virginia Senator Joe Manchin says,
Speaker 5: that's a state.
Speaker 6: There's no human being.
Speaker 10: No business can amass the amount of debt that we
Speaker 10: have and be successful.
Speaker 6: You just can't do it.
Speaker 8: So we have to get our dead under So anything
Speaker 8: we do should be concerned about the debt.
Speaker 6: But right now we're fighting to.
Speaker 5: Survive, and Republican Lindsey Graham says without funding for Ukraine,
Speaker 5: the bill just won't make it through the Senate. Hama
Speaker 5: says almost six hundred more foreigners and dual nationals, including
Speaker 5: four hundred American citizens, are expected to leave Gaza today.
Speaker 5: That would be the second batch to exit since the
Speaker 5: border with Egypt was opened yesterday. We get more with Bloomberg.
Speaker 5: To Oliver Crook in Tel Aviv.
Speaker 11: We had two categories of people that were allowed to
Speaker 11: leave Gaza and go into Egypt. The first wee the
Speaker 11: wounded Egyptian ambulances carrying some Palestinians out who had been
Speaker 11: hurt during the fighting and during the bombardments. They're being
Speaker 11: treated in a field hospital in the northern Sini. But
Speaker 11: the second are the foreigners that are now being permitted
Speaker 11: to cross over.
Speaker 5: Bloomberg's Oliver Crook tells us there are about one thousand
Speaker 5: US citizens in Gaza, and four hundred of them be
Speaker 5: permitted to leave.
Speaker 7: Today.
Speaker 5: Global News twenty four hours a day and whatever you
Speaker 5: want it with Bloomberg News now, I maybe Morrison, this
Speaker 5: is Bloomberg.
Speaker 2: Karen, all right, Amy, thank you, while we bring you
Speaker 2: news throughout the day right here on Bloomberg Radio. But now,
Speaker 2: as Amy said, you can get the latest news on
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Speaker 2: Get informed on your schedule. You can listen and subscribe
Speaker 2: to Bloomberg News noow on the Bloomberg Business app, Bloomberg
Speaker 2: dot com plus Apple, Spotify, and anywhere else you get
Speaker 2: your podcasts. Time now for the Bloomberg Sports Update. Here's
Speaker 2: John stash Hour John Yarn.
Speaker 12: The Texas Rangers are World Series champions for the first time,
Speaker 12: and they did it by doing something that may never
Speaker 12: be done again. They won eleven to zero on the
Speaker 12: road in the postseason. They just won their third straight
Speaker 12: game at Arizona. It was five to nothing even though
Speaker 12: the Rangers didn't get a hit until the seventh inning
Speaker 12: off Zach Gallen. They score running the seventh and then
Speaker 12: got four more than ninth. Nathan Evaldi worked out of trouble.
Speaker 12: The Diamondbacks had runners in scoring position in each of
Speaker 12: the first five innings, but if Aldi finished the postseason
Speaker 12: going five and zero. Corey Seeger was the MVP, as
Speaker 12: he was when the Dodgers won the World Series three
Speaker 12: years ago. A couple of things about Bob Knight's life undeniable.
Speaker 12: Massively successful as a college basketball coach at Army Indiana
Speaker 12: and Texas Tech. He won over nine hundred games, three
Speaker 12: national championships. His team in nineteen seventy six, still the
Speaker 12: last to go undefeated. Also undeniable, the demons that led
Speaker 12: Knight to throw a chair during a game choked the
Speaker 12: player in a practice, he grabbed the arm of a
Speaker 12: student who called him by his last name. That led
Speaker 12: to his departure at Indiana. Bob Knight passed away at
Speaker 12: the age of eighty three. The Celtics are undefeated. They
Speaker 12: scored one hundred and fifty five points, the most in
Speaker 12: a game since nineteen fifty nine. They beat the Pacers
Speaker 12: in Boston by fifty. The Wizards lost in Atlanta one
Speaker 12: thirty to one twenty one. The Warriors on a Klay
Speaker 12: Thompson shot. If the Buzzer top Sacramento by a point,
Speaker 12: shocks dash that our Bloomberg sports.
Speaker 10: From coast to coast, from New York to San Francisco,
Speaker 10: Boston to Washington, DC, nationwide on SYRIASXAM, the Bloomberg Business
Speaker 10: app and Bloomberg dot Com. This is Bloomberg Daybreak.
Speaker 3: Good morning, I'm Nathan Hager. As the Israel Humas war continues,
Speaker 3: President Biden is calling for a pause in fighting. That's
Speaker 3: so more people can be allowed to be released from
Speaker 3: the Gaza Strip to be moved out of harm's way.
Speaker 3: This is as Israel faces some wavering support for its
Speaker 3: ongoing ground effort from parts of the global South.
Speaker 6: And for more on all this, we're joined by.
Speaker 3: Roslind Mathis and Bloomberg's news director for Europe, the Middle
Speaker 3: East and Africa. Roz, Good morning. Can you get us
Speaker 3: updated first off on how the effort to get more
Speaker 3: people out of harm's way is going well?
Speaker 13: As you say, it looks like they might get another
Speaker 13: six hundred or so.
Speaker 6: People out today.
Speaker 13: That was after they are about eighty people who could
Speaker 13: leave across that crossing called the Rougher crossing between Gaza
Speaker 13: and Egypt yesterday. But these are mostly either people who
Speaker 13: are elderly and wounded in need of urgent medical care,
Speaker 13: but also those who are holding a foreign passport, so
Speaker 13: they've got passports from Australia, Asia, the US and elsewhere.
Speaker 13: And it's a really small number of people In the end,
Speaker 13: when you think about the number of people who are
Speaker 13: currently bunched up inside Gaza, many of them have moved
Speaker 13: further south towards that crossing, but they don't have any
Speaker 13: means to leave at the moment. This is really just
Speaker 13: those people who have foreign nationals or in need of
Speaker 13: very very urgent medical care. And what we know is
Speaker 13: that the attacks inside Gaza are continuing. The Israeli forces
Speaker 13: are pushing further towards Gaza City, which is the very
Speaker 13: very high density area, and that's going to lend itself
Speaker 13: towards staor to door combat. In the end, we know
Speaker 13: the aerial strikes are continuing. After those attacks on the
Speaker 13: refugee camp in recent days. Israel says it was striking
Speaker 13: Hamas there because they say that Hamas is using those
Speaker 13: refugee camps as strongholds. But it looks like Israel is
Speaker 13: moving towards an approach of effectively severing Gaza into so
Speaker 13: separating North Gaza from the south. That's going to push
Speaker 13: people even further towards the south and bunched up towards
Speaker 13: the Rougher crossing. But it's really only just a handful
Speaker 13: of people so far getting out.
Speaker 3: And I guess it would make it that much harder
Speaker 3: to tell whether the people that are being allowed to
Speaker 3: leave Gaza at this point are some of the hostages
Speaker 3: that Israel says Hamas is still holding a number of
Speaker 3: hostages that seems to be steadily rising day by day.
Speaker 13: Well, that's right, and just reflects the overall confusion. Really
Speaker 13: in a wartime, it's very difficult to get clear information.
Speaker 13: And what we know is that bit by bed it
Speaker 13: seems that they are, in fact even more hostages than
Speaker 13: were initially known about, are scattered in different areas of
Speaker 13: the Gaza strip, and the negotiations are continuing via intermediaries.
Speaker 13: Katar and others are involved in that, but it doesn't
Speaker 13: seem like they're making major progress towards the whole release
Speaker 13: of the rest of those hostages. Again, it's very much
Speaker 13: a trickle, if any. And so what you've got is
Speaker 13: that situation of only a few people coming out of Gaza,
Speaker 13: limited aid going in, and a real clear sense, especially
Speaker 13: from Egypt on that border crossing, they don't want hundreds
Speaker 13: of thousands of people coming their way.
Speaker 3: Yeah, it sounds like a trickle both ways of people
Speaker 3: moving out and AID moving in. And as this effort continues,
Speaker 3: we are starting to see a little bit more erosion
Speaker 3: for support for Israel, particularly from Jordan and some left
Speaker 3: just leaders in Latin America.
Speaker 6: What does that tell.
Speaker 3: Us about how support for Israel could continue as this
Speaker 3: effort goes on.
Speaker 13: Well, as you say, we're seeing greater noises from countries
Speaker 13: and what we often call together collectively the Global South,
Speaker 13: at some nations in Africa, in Latin America, in Asia
Speaker 13: and so on, including sort of Muslim majority nations Malaysia
Speaker 13: and Indonesia in Asia, and just strong expressions of concern
Speaker 13: about the situation inside Gaza. And against that, you've got
Speaker 13: countries in Europe, in the US still sort of issuing
Speaker 13: strong statements of support for Israel in the aftermath of
Speaker 13: what was a shocking attack on Israel on October seven.
Speaker 13: But equally then you even had the US President Joe
Speaker 13: Biden yesterday saying that he's in favor of what he's
Speaker 13: calling a pause in the fighting. What these countries seem
Speaker 13: to be calling a pause or a halt or a
Speaker 13: temporary something, any word to use other than saying the
Speaker 13: word ceasefire, which is politically very difficult, But even they
Speaker 13: are saying it because they're seeing the level of the
Speaker 13: impact inside Gaza, and so as time goes on, if
Speaker 13: this conflict really does go on for weeks and months,
Speaker 13: as Israel is indicating, and the humanitarian cost of that
Speaker 13: increases in Gaza, you'll only see more and more people
Speaker 13: potentially moving away from that overt level of support for Israel.
Speaker 1: This is Bloomberg Daybreak Today, your morning brief on the
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