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Speaker 2: Good morning.
Speaker 1: I'm Nathan Hager and I'm Karen Moscow. Here are the
Speaker 1: stories we're following today.
Speaker 2: We begin with the war in the Middle East. Today
Speaker 2: marks one month since the Hamas attack in southern Israel
Speaker 2: that's set off the conflict. Now the Hamas are on.
Speaker 2: Health Ministry in Gaza says more than ten thousand people
Speaker 2: have been killed since the fighting began on October seventh,
Speaker 2: But Israeli Prime Minister Benjamin Netan Yahoo is rejecting calls
Speaker 2: for a ceasefire.
Speaker 3: There'll be no ceasefire, general ceasefire in Gaza without the
Speaker 3: release over hostages. As far as tactical little pauses an
Speaker 3: hour here and hour there, we've had them before. I
Speaker 3: suppose we'll check the circumstances in order to enable goods,
Speaker 3: humanitarian goods to come in or our hostages individual hostages
Speaker 3: to leave. But I don't think there's going to be
Speaker 3: a general cees Far.
Speaker 2: And Prime Minister Natanya who tells ABC News Israel could
Speaker 2: have security control over Gaza for an extended period. Israeli
Speaker 2: military spokesman Peter Lerner, who tells Bloomberg Radio the goal
Speaker 2: of the war is to dismantle ham US as a
Speaker 2: governing authority and a terrorist entity.
Speaker 4: Of course, we understand that that role, that goal is
Speaker 4: a very expansive goal and it will take time. And
Speaker 4: so the operation itself, the war itself, is an open
Speaker 4: ended wars. We don't have any powerglass counting them the
Speaker 4: minutes until we end.
Speaker 2: And you can listen back to our entire interview with
Speaker 2: Israeli military spokesman Peter Lerner on the Bloomberg Talks podcast.
Speaker 1: Well, Nathan, back here in the US, the civil trial
Speaker 1: continues in New York against Donald Trump. It was a
Speaker 1: fiery day one on the World Witness stand for the
Speaker 1: former president of Bloomberg's Ed Baxter has the story.
Speaker 5: Trump yelled at the judge said he was biased and
Speaker 5: the court was a fraud.
Speaker 6: It was a stim and this is the.
Speaker 5: Case that should have never ru An. Attorney General Letitia
Speaker 5: James says she got what she needed.
Speaker 7: At the end of the day.
Speaker 1: The documentary evans evidence demonstrated that, in fact, he falsely
Speaker 1: inflated his assets.
Speaker 5: And Bloomberg's Patricia Hurtado says she's never seen anything like it.
Speaker 8: He was claiming that I've done real estate for fifty years,
Speaker 8: and as a developer, basically I have a right to
Speaker 8: just declare magically what something's worth.
Speaker 5: Daughter Ivanka is on the stand Wednesday, Ed Baxter Bloomberg Radio.
Speaker 2: Okay and thank you now. Donald Trump will not be
Speaker 2: participating in tomorrow night's Republican presidential debate in Miami. Five
Speaker 2: candidates will. They are Ron DeSantis, Nikki Haley, Vivek Ramaswami,
Speaker 2: Senator Tim Scott, and former New Jersey Governor Chris Christie.
Speaker 2: Former White House Chief of Staff Mick mulvaney says Trump's
Speaker 2: decision not to pretipate may have repercussions.
Speaker 9: I think it may come back to haunt him. When
Speaker 9: Joe Biden, assuming Biben's the Democrat nominee has the ability
Speaker 9: then with good reason to say, Oh, Donald, you didn't
Speaker 9: debate in the primary, I'm not debating you in the general.
Speaker 9: And Trump would be desperate for a debate headhead against Bid,
Speaker 9: and Bide would be desperate for an excuse not to
Speaker 9: do one.
Speaker 2: The former Trump White House Chief of Staff mcmulvaney says,
Speaker 2: Nikki Haley is the one with the most to gain
Speaker 2: from this debate. Mulvany was on Bloomberg Sound On with
Speaker 2: Joe Matthew. You can catch the program one pm Eastern
Speaker 2: on Bloomberg Radio or listen on demand wherever you get
Speaker 2: your podcasts.
Speaker 1: Well, Nathan, Before we get to that Republican debate tomorrow,
Speaker 1: voters head to the polls today to vote on some
Speaker 1: key issues. So Hio residents will decide off access to
Speaker 1: abortion care should be enshrined in the state's constitution. It'll
Speaker 1: be closely watched nationally as a gauge of a key
Speaker 1: issue ahead of the twenty twenty four presidential elections. And
Speaker 1: in Virginia, Republican Governor Glenn Younkin is campaigning hard for
Speaker 1: his party to hold the state House and reclaim the
Speaker 1: Senate majority. GOP Victory's Goodline young up as a potential
Speaker 1: alternative to Donald Trump as the party's twenty twenty four
Speaker 1: presidential nominee.
Speaker 2: Well, Karen, let's turn now to the markets. We're watching
Speaker 2: shares of UBS. They are hired by more than three percent.
Speaker 2: In Europe, the Swiss Bank, which took over Credit Sweez
Speaker 2: earlier this year, reported stronger than expected client inflows. We
Speaker 2: get more from Bloomberg's Guy Johnson in Zurich, we.
Speaker 10: Are getting some stabilization in terms of client money, particularly
Speaker 10: in the wealth management division. That is really important. So
Speaker 10: they've managed to stabilize that and that maybe gives them
Speaker 10: the opportunity to start to kind of accelerate things here
Speaker 10: a little bit. But these circle numbers are basically just
Speaker 10: bridge numbers. We're waiting for the fullier numbers, and at
Speaker 10: that point we're going to get a strategy update. At
Speaker 10: that point, we're going to get a clear idea of
Speaker 10: where Sergio Mossy, the CEO, and the rest of the
Speaker 10: team are going to take this combined entity.
Speaker 2: And Bloomberg's Guy Johnson says overall, UBS posted a quarterly
Speaker 2: net loss of seven hundred and eighty five million dollars.
Speaker 2: Its first quarterly loss in almost six years.
Speaker 1: Well. Staying in the banking industry, Nathan Morgan. Stanley's James Gorman,
Speaker 1: who's preparing to step down as CEO at the end
Speaker 1: of this year, says he will vacate his posed as
Speaker 1: chairman by the end of twenty twenty four. Gorman made
Speaker 1: the comments in an interview at a NIEK forum in Tokyo.
Speaker 1: Ted Pick, a co president and three decade veteran of
Speaker 1: the firm, will be elevated to the top role in January.
Speaker 2: In turning to the US economy, Karen, it is too
Speaker 2: early to declare victory over inflation. That's the view from
Speaker 2: Minneapolis Fed President Neil Kashkari.
Speaker 11: We're making progress. The job market remained strong, the unemployment
Speaker 11: rate is still quite low at around three point nine percent,
Speaker 11: so overall the fundamentals are healthy, but we haven't completely
Speaker 11: solved the inflation problem. We still have more work ahead
Speaker 11: of us to get it done.
Speaker 2: Speaking of Fox News, Minneapolis Fed chief Neil Cashcari ads
Speaker 2: he's nervous about declaring victory on inflation too soon.
Speaker 1: Well, in Corporate News, Nathan, it was once a high
Speaker 1: flying startup and now we work has filed for bankruptcy.
Speaker 1: The company said had struck a restructuring agreement with creditors
Speaker 1: and with streamline. It's rental portfolio of office space. We
Speaker 1: Works collapse as the culmination of a year's long saga
Speaker 1: for the company, which was once the biggest office tenant
Speaker 1: in Manhattan.
Speaker 2: And Karen Bloomberg News has learned SpaceX's on track to
Speaker 2: book revenues of about nine billion dollars this year across
Speaker 2: its rocket launch and starlink businesses. SpaceX has projected a
Speaker 2: rise to around fifteen billion in twenty twenty four. The
Speaker 2: figures represent a rare look into the finances of the
Speaker 2: Elon Musk led company, which sells commercial space on its
Speaker 2: reusable rockets, as well as Internet being down from a
Speaker 2: constellation of satellites.
Speaker 1: Ry Nathan thanks Time Now for a look at some
Speaker 1: of the other stories making news around the world. For that,
Speaker 1: we're joined by Bloomberg's John Tucker. John, good morning, and
Speaker 1: good morning, Karen.
Speaker 12: The US government's debt interest build has now soared passed
Speaker 12: one trillion dollars. The story on this report this morning
Speaker 12: from Bloomberg's Jeff Bellinger.
Speaker 7: Bloomberg analysis shows annualized interest payments on the US government
Speaker 7: debt pile climb past one trillion dollars at the end
Speaker 7: of last month. That amount has doubled in the past
Speaker 7: nineteen months and is equivalent to fifteen point nine percent
Speaker 7: of the entire federal budget for fiscal year twenty twenty two.
Speaker 7: The worsening metrics may reignite debate about the US fiscal
Speaker 7: path amid heavy borrowing from Washington. That dynamic has already
Speaker 7: helped to drive up bond yields, and it led Fitch
Speaker 7: Ratings to downgrade US government debt in August. Jeff Bullinger
Speaker 7: Bloomberg Radio.
Speaker 12: The Supreme Corps today is taking up a challenge to
Speaker 12: a federal law that prohibits people from having guns if
Speaker 12: they're under a court order to stay away from their spouse, partner,
Speaker 12: or other family members. The Federal Appeals Court in New
Speaker 12: Orleans struck down the law. Following the Supreme Court's Bruin
Speaker 12: decision in June of twenty twenty two, Iowa Governor Kim
Speaker 12: Reynold's officially throwing her support behind Florida's governor for the
Speaker 12: Republican presidential nomination.
Speaker 1: Ron DeSantis, is the person that we need leading this country.
Speaker 12: At ABC News. IPSOS polls shows if the Republican Party
Speaker 12: nominates someone other than former President Trump, more Republicans say
Speaker 12: they would be more likely to turn out and vote
Speaker 12: an election day. Box with striking Hollywood actors are ongoing
Speaker 12: after the union rejected with the studios called their last,
Speaker 12: best and final offer. The strike started in July. Netflix
Speaker 12: co CEO Ted Sarando says he's hopeful and agreement will
Speaker 12: be reached soon.
Speaker 13: We're in the business of telling stories and that's what
Speaker 13: we want to do every day. So his grind to
Speaker 13: a hall for a few months, and so we're going
Speaker 13: to try our best to get things up and running
Speaker 13: and get the output. Becka for our fans too.
Speaker 12: Ted sarandas with Netflix, spoke to Reuters. Elon Musk's company,
Speaker 12: Neurallink is seeking a volunteer for its first clinical trial.
Speaker 12: As looking for someone willing to have a chunk of
Speaker 12: their skull removed by a surgeon so a large robot
Speaker 12: can insert a series of electrodes and super thin wires
Speaker 12: into their brain. Global News twenty four hours a day,
Speaker 12: and whatever you wanted with Bloomberg News. Now, I'm John Tucker,
Speaker 12: and this is Bloomberg Karen, all.
Speaker 1: Right, John, thank you well. We do bring you news
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Speaker 1: Sports Update. Here's John stash Hour.
Speaker 6: John Karen was that I football the cap Week nine
Speaker 6: Chargers at the Jets and LA's Darius Davis ran a
Speaker 6: punt back eighty seven yards. I'm minute forty five into
Speaker 6: the game. Chargers went on to have eight sacks and
Speaker 6: crushed the Jets twenty seven to six. Both teams are
Speaker 6: now four and four. The Celtics are five and one.
Speaker 6: The first loss of the season came in overtime at
Speaker 6: Minnesota one fourteen to one oh nine. The Sixers are
Speaker 6: five and one. Joel mb forty eight points in a
Speaker 6: one forty six to one twenty eight win over Washington.
Speaker 6: The Wizards are one and five. Steph Curry scored thirty four.
Speaker 6: Golden State wonted Detroit one twenty to one. Oh nine
Speaker 6: Bruins keep being the hot start. They're ten to one
Speaker 6: to one. They've beaten Florida twice. They were stunned by
Speaker 6: the Panthers in the playoffs last season, Boston won three
Speaker 6: to two. College basketball is underway a lot of blowouts,
Speaker 6: including number one Kansas winning by forty three. Second ranked
Speaker 6: Duke won by thirty eight. Third ranked Perdue won by
Speaker 6: fifty three. But Michigan State, ranked fourth in the country,
Speaker 6: stunned in overtime, lost to James Madison. Michigan State's longtime
Speaker 6: coach Tom Izzo nephew as an assistant for James Madison.
Speaker 6: Three baseball teams have new managers. The Cleveland Guardians hired
Speaker 6: thirty nine year old Steven Void, just recently retired as
Speaker 6: a player, spent last season as a low level coach
Speaker 6: in Seattle in replaces. They're retiring. Terry francona great council,
Speaker 6: leaving Milwaukee after nine years with the Brewers, but stayin
Speaker 6: in the NL Central. He's the new manager of the Cubs.
Speaker 6: The Mets new manager is his former Yankee coach, Carlos Mendoza.
Speaker 6: John stan Shiawer Bloomberg.
Speaker 14: Sports from coast to coast, from New New York to
Speaker 14: San Francisco, Boston to Washington, DC, nationwide on Syrias Exam,
Speaker 14: the Bloomberg Business app, and Bloomberg dot Com. This is
Speaker 14: Bloomberg Daybreak. Good morning, I'm Nathan Hager.
Speaker 2: It has now been one month since the deadly Hamas
Speaker 2: attack in southern Israel, and the retaliatory war in Gaza
Speaker 2: shows little sign of slowing. The Israeli military says it
Speaker 2: has Gaza city surrounded and is moving closer to the
Speaker 2: city center as it carries out operations from the ground
Speaker 2: and air, while the Hamas run health ministry in Gaza
Speaker 2: says the death toll from this month of war has
Speaker 2: now passed ten thousand. For the latest were joined by
Speaker 2: Bloomberg News Israel Government and economy reporter Galite Alstein Ghalite.
Speaker 2: Good morning. We are one month into this war. Given
Speaker 2: what we're hearing from Israeli leaders in the political and
Speaker 2: military spheres, what could month two look like?
Speaker 8: Yeah, so, actually we've been hearing on Prime Minister in
Speaker 8: Nathaniel On tonight, he speaks to NBABC News in an interview.
Speaker 8: He references the talks of a possible sease fire in
Speaker 8: the Gaza Strip and he says that it's totally dependent
Speaker 8: on the release of all israel Is being held hostage
Speaker 8: by Hamas. However, he does say that Israel could allow
Speaker 8: tactical process for humanitarian purposes. He says, and our here
Speaker 8: and our there, quote unquote, and he explains that in
Speaker 8: his opinion, the ceasefire would hamper the war effort because
Speaker 8: the only thing, so he says, that works on these criminals,
Speaker 8: as he refers to Hamas, is the military pressure that
Speaker 8: Israel has been excerting. So we also hear on Israel's
Speaker 8: defense Minister of Ghalan speaking today. He doesn't give a
Speaker 8: very specific wife frame for the war moving forward, but
Speaker 8: he does say it will take more than a week
Speaker 8: or two, so we can at least read into what
Speaker 8: he says is the fighting going on for several more weeks.
Speaker 2: The fighting is for several more weeks, but what comes after?
Speaker 2: What comes as far as the change of leadership that
Speaker 2: Israel is looking for after it achieves that goal that
Speaker 2: it's set out to dismantle and destroy Hamas.
Speaker 8: So I think that is still a question that remains
Speaker 8: to be answered, and I do not think that there
Speaker 8: is a clear answer. Also for any Israeli officials or
Speaker 8: other officials were involved in some sort of talks or
Speaker 8: vactional talks on this matter, it is a complicated issue.
Speaker 8: If I go back on to what Nataniel said last night,
Speaker 8: he didn't discuss some who would be ruling or who
Speaker 8: would be leaving Gaza in the day after, but he
Speaker 8: did say that for an indefinite period after the war,
Speaker 8: Israel would like to maintain, will maintain, and will want
Speaker 8: to maintain and overall security responsibility in Gaza, suggesting that
Speaker 8: it will maintain that role even after the fighting in
Speaker 8: the tortory end. So that does not mean that Israel
Speaker 8: will will occupy Gaza and will rule there, but it
Speaker 8: will definitely want We want an arm and a leg
Speaker 8: and the security responsibility in.
Speaker 2: The strict You mentioned the Prime Minister natanyahuo talking about
Speaker 2: tactical pauses in the fighting. We heard from Secretary of
Speaker 2: State Anthony Blincoln over the weekend in his whirlwind trip
Speaker 2: talking about humanitarian pauses. Is there really a difference between
Speaker 2: those two ideas?
Speaker 8: Well, you know, I think when you speak about human
Speaker 8: humanitarian pauses, like Nathaniel said himself, you speak about very
Speaker 8: brief arm pauses, he said, in an hour here, an
Speaker 8: hour there, while sees fire fire as much you know,
Speaker 8: wider concept that basically doesn't even seem possible now in
Speaker 8: the sense that there are a lot of Israeli troops,
Speaker 8: some thousands of Israeli troops on the ground in Gaza
Speaker 8: encircling Gaza City fighting there and UH and the and
Speaker 8: the and the wider seas fire and overall seasfire that
Speaker 8: would see fighting completely paused for a longer time than
Speaker 8: an hour or or a couple hours here and there
Speaker 8: doesn't seem possible as long as so many Israeli troops
Speaker 8: are in the ground and there's so much competing going
Speaker 8: on on the ground.
Speaker 2: We've also heard Israeli leaders say that there's no humanitarian
Speaker 2: crisis in southern Gaza from what we can tell with
Speaker 2: the situation on the ground. UH does that square with
Speaker 2: what we're seeing.
Speaker 8: So look, we're saying, first of all, we're still seeing that.
Speaker 8: The Israeli Army saying that it continues to operate if
Speaker 8: corridor even today for four hours towards Wadi Gaza, so
Speaker 8: that would mean people moving still moving from northern Gaza
Speaker 8: to the southern part and the visually army publishes documentation
Speaker 8: today of residents living does they two neighborhood that's a
Speaker 8: neighborhood in the southern part of god the city waving
Speaker 8: white cloths at tanks meaning they want to say, you know,
Speaker 8: we're innocent. Civilians led us through and the army is
Speaker 8: doing that. And we also saw yesterday the Egyptian border
Speaker 8: does did eventually reopen for the evacuation of foreign nationals
Speaker 8: and dual citizens and also a handful of injured people.
Speaker 8: We do not know the exact numbers, but that did happen.
Speaker 2: This is Bloomberg day Break Today, your morning brief on
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