September 17, 2025 • 16 mins
On today's podcast:
1) The UK has shelved its talks with the US aimed at eliminating tariffs on British steel, in a recognition that giving Donald Trump the honor of a rare second state visit wouldn’t be enough to shake the American president off a key trade stance.
2) Federal Reserve officials are expected to backstop a faltering US labor market by lowering interest rates Wednesday, marking a shift after worries about tariff-induced inflation kept them on hold all year.
3) TikTok’s US operations would be acquired by a consortium that includes Oracle Corp., Andreessen Horowitz and private equity firm Silver Lake Management LLC under a deal President Donald Trump is set to discuss with Chinese President Xi Jinping this week.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2 (00:09):
Good morning.
Speaker 3 (00:10):
I'm Nathan Hager and I'm Karen Moscow. Here are the
stories we're following today.
Speaker 4 (00:15):
Karen, we begin overseas and President Donald Trump's state visit
to the UK. King Charles is preparing to host the
President at Windsor Castle. Let's go to London and get
the very latest with Bloomberg day Break. Europe Banker Caroline Hepger.
Good morning, Caroline, Good morning Nathan.
Speaker 5 (00:30):
They say Windsor castles the ultimate right, says President Trump,
while the British government is certainly hoping.
Speaker 6 (00:37):
So.
Speaker 5 (00:37):
The President and First Lady have had a night at
the eleventh century castle. They'll be greeted this morning by
the Prince and Princess of Wales, then the King and
Queen with a carriage ride, a guard of honor, glittering
white tie banquet, all private, away from any protests. Photos
of Trump and Jeffrey Epstein beamed onto Windsor Castle having
been swiftly removed with fours made now. The UK has
(01:02):
already seen some significant pledges, more than forty two billion
dollars for tech and AI investments into Britain for Microsoft,
OpenAI and others who are also on this state visit,
but hopes of lowering steel tariffs have been put on
the back burner, And yet Nathan quiet optimism. Given that
President Trump is the most angli phile US leader in decades,
(01:26):
Britain has a golden opportunity to make its case to
the most powerful political and tech leaders in the world.
Speaker 4 (01:33):
So while we wait for more on that potential opportunity, Caroline,
what are some potential pitfalls though?
Speaker 2 (01:39):
For Prime Minister care starmer Well.
Speaker 5 (01:41):
President Trump goes to the prime minister's country as state
checkers on Thursday. There'll be bagpipes there, a bilateral meeting
and the Chancellor Rachel Reeves is hosting a business reception too,
So the real peril is actually at a joint press
conference that will be held. Will difficult questions emerge about
the UK's former ambassador to the US, Peter Mandlson, being
(02:03):
fired over his relationship with Jeffrey Epstein, the UK's poised
to maybe recognize a Palestinian state. Will there be repeated
criticism about the state of free speech hit in the
UK and Kirstarma also won stronger measures from the US
side against Russia over Ukraine. Does a big win on
(02:25):
Capex for UK data centers really deliver growth in jobs.
There could be many many questions that come up in
that press conference.
Speaker 4 (02:34):
All right, Bloomberg day Break here Baker, Caroline Hepger, thank
you for this. We'll be checking back with Caroline throughout
the morning.
Speaker 3 (02:40):
Nathan, a Spirit Airlines passenger jet got a little too
close for comfort with Air Force one carrying President Trump
to London. It happened over Long Island when an air
traffic controller noticed their altitudes were similar and flight paths converging.
The controller trying to alert the Spirit pilots to change
their course, and after they did not respond, he repeated
(03:01):
the message, raising his voice and commanding them to turn
twenty degrees right immediately.
Speaker 4 (03:06):
Well, later this month, Karen, President Trump is going to
be meeting with another world leader, Israeli Prime Minister Benjamin
netan Yahoo plans to visit the White House September twenty ninth. Netanyah,
who says he's had a number of conversations with the
President after Israel's strike on Hamas leaders in Doha kat
He says the conversations were quote very good.
Speaker 3 (03:26):
Well, Nathan, we turned down to one of the most
highly anticipated and controversial FED decisions in years. The new
FED board now includes White House Economic Advisor Stephen Myron,
and it still has FED Governor Lisa Cook, who President
Trump is trying to fire. We get more in the
decision from Bloomberg's Michael McKee.
Speaker 6 (03:44):
There's no question this is going to be a different
kind of FED meeting. There's a lot of storylines here,
of course, the biggest is Stephen Myron joining and the
Governor Lisa Cook being able to continue with her role
at the FED. Now, the question is who's it's next
to whom in that meeting and what will it be
like in terms of the discussions, which is actually a
(04:06):
real question because Myron has not participated in the run
up to this, hasn't had the briefings, doesn't know what
other FED officials are going to be saying, and they
go around the table and they all give a presentation
about the economy. So it isn't clear exactly how much
he's going to contribute, other than one expects he will
vote for the rate.
Speaker 3 (04:23):
Cut and Bloomberg's Michael McKee will be part of our
Bloomberg surveillance. The FED decides special this afternoon at one
thirty pm Wall Street Time. You can watch and listen
on Bloomberg Radio, Bloomberg Television, and the Bloomberg Podcast channel
on YouTube.
Speaker 4 (04:37):
Karen, Let's get to the latest down the Charlie Kirk
murder case. The suspect and the conservative activists shooting death
has made his first court appearance. Twenty two year old
Tyler Robinson is facing a first degree aggravated murder charge
in Utah County Attorney Jeff Gray says he will seek
the death penalty.
Speaker 7 (04:53):
As county attorney, I am charged with bringing justice to
those who offend our laws. I am charged with bringing
justice for those who harm, for those who are harmed.
I am charged with bringing justice for Charlie Kirk.
Speaker 4 (05:12):
Utah County Attorney Jeff Gray says DNA matching Robinson was
found on the rifle that investigators think was used in
the shooting. He also says Robinson confessed in text messages
with his roommate whom he was dating. The judge set
the next hearing for the end of this month, when
Robinson could be asked to enter a plea.
Speaker 3 (05:29):
Well, let's turn to the nation's capital now. Nathan and
FBI Director Cash Pttel clashed with Democratic senators during the
first of two oversight hearings this week, and Bloomberg's Amy
Morris has more from Washington.
Speaker 8 (05:41):
Patel faced criticism from Senate Democrats over his handling of
the investigation into the death of conservative activist Charlie Kirk
and Patel's leadership. Three former senior FBI officials are suing
over their firing, which they called retribution. Patel responded when
Democratic Senator Corey Booker said he didn't think he'd be
in that job much longer.
Speaker 2 (06:02):
That rant does not bring this country together. My god,
my god, if you want to talk about biding this country,
it is. I follow you on your social media posts.
Is come part? Your time over? Committee, Sir. You don't
tell me my time is over? You know how tell
me what my time is next.
Speaker 8 (06:21):
Patel will testify before the House Judiciary Committee in Washington.
Amy Morris Bloomberg Radio.
Speaker 2 (06:27):
Amy Thanks.
Speaker 4 (06:28):
The White House says TikTok can continue operating in the
US until December sixteenth. The latest extension comes as Bloomberg
News has learned TikTok's US operations will be bought by
a consortium of US companies under a deal to be
discussed between President Trump and China's Shi Jinping. The framework
agreement involves a US based version of the app backed
by firms including Oracle, private equity firms Silver Lake and
(06:50):
Venture Capital Company andres and US Trade Representative Jamison Greer
says the deal represents a step forward in the ongoing saga.
Speaker 9 (06:57):
The TikTok saga has gone on for a long time.
Toward the end of his first term, President Trump set
about to solve it. Over the course of the Biden administration,
they grappled with this issue but could not solve it.
But as of yesterday, we believe that President Trump has
in fact resolved this issue.
Speaker 4 (07:14):
US Trade rep. Jamison grousepoke on Fox Business. Under an
initial agreement, a Chinese owned Byte Dance's stake in TikTok
would fall below twenty percent to satisfy a US law
that requires the Beijing based company to divest. President Trump
is set to speak with President she on the deal
this Friday.
Speaker 3 (07:31):
Well Ifan cheers of Nvidia down seven tenths of uppercent
this morning. The Financial Times is reporting China's internet regulator
has told the country's tech companies to stop buying all
of in Video's AI chips and terminate their existing orders.
The move comes as Beijing steps up efforts to boost
its homegrown semiconductor industry and compete with the US.
Speaker 4 (07:52):
And another tech giants seeing a slowdown in China. Karen
Apples smartphone sales fell six percent there in the weeks
leading up to the iPhone seventeen line. That's a deeper
slump than usual before a major product release. But Apple
wasn't the only one. China's overall smartphone market shrank two
percent in July and August. Companies with bigger market share
like shall Me, Vivo and Honor Device also saw declines.
Speaker 3 (08:14):
And Nathan take a platform. Stub Hub goes public today.
It prices initial public offering at the midpoint of a
marketed range to raise eight hundred million dollars. The company
shares will trade under the symbol STUB or stub. The
USIPO market is on a hot streak, with about four
point seven billion dollar raised since the Labor Day holiday time.
(08:39):
Now for look at some of the other stories making
news in New York and around the world, and for
that we're joined by Bluebers.
Speaker 2 (08:43):
Michael Barr. Michael, good morning, Good morning, Karen.
Speaker 10 (08:46):
Terrorism and first degree murdered charges were dropped against Luigi
Mangione after a judge decided the charges lacked sufficient evidence.
Prosecutors accused Mangioni of fatally shooting United Healthcare CEO Brian
Thompson last December and Manhattan as an act of terror.
The twenty seven year old still faces second degree murder
charges and has pleaded not guilty. Former CDC director doctor
(09:10):
Susan Manaris will appear before the Senate Health Committee today.
Manaris is expected to testify about her firing and her
month working for Health and Human Services Secretary Robert F.
Kennedy Junior, one of its members. Senator Susan Collins, spoke
about doctor Manares when she appeared before the World Medical
Innovation Forum in Boston.
Speaker 5 (09:32):
Susan put it best to me.
Speaker 2 (09:34):
She said that she just she was asked.
Speaker 1 (09:38):
To fire all these people and refused to do it.
Speaker 10 (09:42):
Senator Collins, a main Republican, lauded Manaris' work and says
she looks forward to going into further detail on her
firing In New York City. We'll find out later this
morning about the future of a casino in Times Square.
A final vote is expected on whether the casino proposal
moves forward. There have been demonstrations on both sides for
(10:03):
and against the Caesars Palace casino that is currently the
home of the Men's Gough Theater. The Food and Drug
Administration says it is conducting an independent physician investigation into
the twenty five reports of child doubts after receiving COVID vaccines.
FDA Commissioner doctor Martin mckarey says self reported underified cases
(10:25):
are part of a database that are available to the
public but need to be investigated.
Speaker 11 (10:29):
Some people say, you shouldn't be looking at this, You
should not be sharing data like this with the public
because it may lead some to question the vaccine. We
believe in full transparency people can make their own decision.
Speaker 10 (10:40):
FDA Commissioner, Doctor Martin mckarey. Global News twenty four hours
a day and whenever you want it with Bloomberg News Now.
I'm Michael Barrn. This is Bloomberg Karen.
Speaker 3 (10:50):
Thanks Michael. Time now for our Bloomberg Sports update, and
for that we bring in John stash Hour.
Speaker 2 (10:56):
Thanks Dren.
Speaker 12 (10:56):
The Seattle Mariners made it ten wins in a row.
It was twelve to five at Kansas City is Dominic.
Canzone hit three home runs and Cal Rowley hit two.
He has fifty six home runs on the season. It's
the most ever for a switch hitter, passing Mickey Mantle.
The NFL says it's okay with Tom Brady, who is
a partial owner of the Las Vegas Raiders, being in
(11:17):
the coaching box during a game. Many pointed to a
conflict of interest, and Brady is also an announcer for Fox.
Speaker 2 (11:24):
That's your Bloomberg Sports Update. Stay with us.
Speaker 3 (11:28):
More from Bloomberg day Break coming up after this.
Speaker 1 (11:35):
Coast to coast on Bloomberg Radio nationwide on Serious Exam
and around the world on Bloomberg dot Com and the
Bloomberg Business opp This is Bloomberg Daybreak.
Speaker 2 (11:45):
Good morning.
Speaker 4 (11:46):
I'm Nathan Hager, and they're pulling out all the stops
of Windsor Castle for President Donald Trump's second state visit
to the UK, getting a royal welcome from King Charles
the Third. Looking to talk trade. As he told reporters
before he left the White House, they want.
Speaker 11 (11:58):
To see if they can rebind a great deal a
little bit.
Speaker 12 (12:00):
We've made a deal and it's a great deal, and.
Speaker 2 (12:04):
I'm into helping them. Our country is doing very well.
Speaker 4 (12:07):
That was President Trump ahead of his arrival in the
UK and joining us this morning from Windsor Castle is
Bloomberg's Lizzie Burden.
Speaker 2 (12:14):
Lizzie, thanks for being with us.
Speaker 4 (12:15):
Set the scene for us, because no one really sets
a scene quite like the royals.
Speaker 2 (12:20):
Good morning, hey, Nathan.
Speaker 13 (12:21):
You're absolutely right. Pump and pageantry is what we do
best here in the UK. And of course this is
a second unprecedented second state visit for Donald Trump.
Speaker 14 (12:30):
You might remember his first one at Buckingham Palace.
Speaker 13 (12:32):
They're all sat round for a state banquet and everyone's
in their finery. But only as they sat down did
a tabloid newspaper break that he was critical of then
Prime Minister Theresa May a deeply embarrassing interview in digestion
for all. So there are lots of potential pitfulls again,
this time maybe on Palestine, maybe on Jeffrey Epstein. We've
(12:55):
just lost our UK ambassador to Washington over his links
to Jeffrey Epstein. On the agenda today, see the President,
the First Lady, Welcome to Windsor by the King and Queen.
They'll have a carriage procession through the grounds of the
estate with the Prince and Princess of Wales. Apparently the
President's taken a shine to Prince William. He said he
(13:15):
was very handsome when he met him in Paris last year,
and so the Palace is keen to deploy him once again.
Speaker 14 (13:21):
Then they're going to have a private.
Speaker 13 (13:23):
Lunch, they're going to lay a wreath at the tomb
of the late Queen Elizabeth, and then we're going to
have a flypass of UK and US F thirty five
jets along with the Red Arrows, so pulling out all
the stops. The hope, of course, is that all of
this soft power translates into hard cash for the UK.
Speaker 4 (13:42):
Yeah, in terms of potentially softening the President to maybe
make some concessions when it comes to trade. You've got
to think that for Prime Minister Cure Starmer, this trip
is going to be crucial.
Speaker 14 (13:52):
It absolutely is, and it couldn't come at a worse
time for the British Prime Minister.
Speaker 13 (13:56):
It has to be said, his party is floundering in
the polls behind notably Donald Trump's friend Nigel Farrar is
the leader of Reform UK. He has his colleagues talking
about replacing him, but they just don't know who to
replace him with. Just this morning we had the UK
inflation numbers the highest again in a year and a half,
(14:17):
on a week of a Bank of England decision. And
really it's all coming to a head for kir Starmer
because just this past two weeks he's lost three from
his government, including as I say, Peter Mandelson, the UK
ambassador to Washington, but also the Deputy Prime Minister, also
his chief of strategy, and so it's going to give
Donald Trump leverage over Starmer. He will be very aware
(14:40):
of the weakness of the UK Prime Minister.
Speaker 14 (14:41):
Right now, just.
Speaker 4 (14:42):
Thirty seconds left, Lizzie. But we've heard about all the
tech deals that have been made in the UK leading
up to this.
Speaker 2 (14:47):
What more is the UK hoping to get.
Speaker 13 (14:50):
Yeh ten billion dollars of economic agreements expected in addition
to that US UK trade deal already, perhaps we could
get more on AARI. We've already had the likes of
Google pledging money.
Speaker 14 (15:03):
They're billions of pounds.
Speaker 13 (15:05):
But look, when it comes to Steeal tariffs, it doesn't
look like Starma is going to get any better than
the twenty five percent already agreed, and it doesn't look
like there's much more to come on Scotch Whiskey Tariffs either.
Speaker 3 (15:18):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 4 (15:25):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 3 (15:31):
You can also listen live each morning starting at five
am Wall Street Time on Bloomberg eleven three to zero
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Speaker 4 (15:45):
Plus listen coast to coast on the Bloomberg Business app
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Speaker 3 (15:51):
And don't forget to subscribe to Bloomberg News Now. It's
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Speaker 2 (16:03):
I'm Karen Moscow and I'm Nathan Hager.
Speaker 4 (16:05):
Join us again tomorrow morning for all the news you
need to start your day right here on Bloomberg Daybreak
Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2 (00:09):
Good morning.
Speaker 3 (00:10):
I'm Nathan Hager and I'm Karen Moscow. Here are the
stories we're following today.
Speaker 4 (00:15):
Karen, we begin overseas and President Donald Trump's state visit
to the UK. King Charles is preparing to host the
President at Windsor Castle. Let's go to London and get
the very latest with Bloomberg day Break. Europe Banker Caroline Hepger.
Good morning, Caroline, Good morning Nathan.
Speaker 5 (00:30):
They say Windsor castles the ultimate right, says President Trump,
while the British government is certainly hoping.
Speaker 6 (00:37):
So.
Speaker 5 (00:37):
The President and First Lady have had a night at
the eleventh century castle. They'll be greeted this morning by
the Prince and Princess of Wales, then the King and
Queen with a carriage ride, a guard of honor, glittering
white tie banquet, all private, away from any protests. Photos
of Trump and Jeffrey Epstein beamed onto Windsor Castle having
been swiftly removed with fours made now. The UK has
(01:02):
already seen some significant pledges, more than forty two billion
dollars for tech and AI investments into Britain for Microsoft,
OpenAI and others who are also on this state visit,
but hopes of lowering steel tariffs have been put on
the back burner, And yet Nathan quiet optimism. Given that
President Trump is the most angli phile US leader in decades,
(01:26):
Britain has a golden opportunity to make its case to
the most powerful political and tech leaders in the world.
Speaker 4 (01:33):
So while we wait for more on that potential opportunity, Caroline,
what are some potential pitfalls though?
Speaker 2 (01:39):
For Prime Minister care starmer Well.
Speaker 5 (01:41):
President Trump goes to the prime minister's country as state
checkers on Thursday. There'll be bagpipes there, a bilateral meeting
and the Chancellor Rachel Reeves is hosting a business reception too,
So the real peril is actually at a joint press
conference that will be held. Will difficult questions emerge about
the UK's former ambassador to the US, Peter Mandlson, being
(02:03):
fired over his relationship with Jeffrey Epstein, the UK's poised
to maybe recognize a Palestinian state. Will there be repeated
criticism about the state of free speech hit in the
UK and Kirstarma also won stronger measures from the US
side against Russia over Ukraine. Does a big win on
(02:25):
Capex for UK data centers really deliver growth in jobs.
There could be many many questions that come up in
that press conference.
Speaker 4 (02:34):
All right, Bloomberg day Break here Baker, Caroline Hepger, thank
you for this. We'll be checking back with Caroline throughout
the morning.
Speaker 3 (02:40):
Nathan, a Spirit Airlines passenger jet got a little too
close for comfort with Air Force one carrying President Trump
to London. It happened over Long Island when an air
traffic controller noticed their altitudes were similar and flight paths converging.
The controller trying to alert the Spirit pilots to change
their course, and after they did not respond, he repeated
(03:01):
the message, raising his voice and commanding them to turn
twenty degrees right immediately.
Speaker 4 (03:06):
Well, later this month, Karen, President Trump is going to
be meeting with another world leader, Israeli Prime Minister Benjamin
netan Yahoo plans to visit the White House September twenty ninth. Netanyah,
who says he's had a number of conversations with the
President after Israel's strike on Hamas leaders in Doha kat
He says the conversations were quote very good.
Speaker 3 (03:26):
Well, Nathan, we turned down to one of the most
highly anticipated and controversial FED decisions in years. The new
FED board now includes White House Economic Advisor Stephen Myron,
and it still has FED Governor Lisa Cook, who President
Trump is trying to fire. We get more in the
decision from Bloomberg's Michael McKee.
Speaker 6 (03:44):
There's no question this is going to be a different
kind of FED meeting. There's a lot of storylines here,
of course, the biggest is Stephen Myron joining and the
Governor Lisa Cook being able to continue with her role
at the FED. Now, the question is who's it's next
to whom in that meeting and what will it be
like in terms of the discussions, which is actually a
(04:06):
real question because Myron has not participated in the run
up to this, hasn't had the briefings, doesn't know what
other FED officials are going to be saying, and they
go around the table and they all give a presentation
about the economy. So it isn't clear exactly how much
he's going to contribute, other than one expects he will
vote for the rate.
Speaker 3 (04:23):
Cut and Bloomberg's Michael McKee will be part of our
Bloomberg surveillance. The FED decides special this afternoon at one
thirty pm Wall Street Time. You can watch and listen
on Bloomberg Radio, Bloomberg Television, and the Bloomberg Podcast channel
on YouTube.
Speaker 4 (04:37):
Karen, Let's get to the latest down the Charlie Kirk
murder case. The suspect and the conservative activists shooting death
has made his first court appearance. Twenty two year old
Tyler Robinson is facing a first degree aggravated murder charge
in Utah County Attorney Jeff Gray says he will seek
the death penalty.
Speaker 7 (04:53):
As county attorney, I am charged with bringing justice to
those who offend our laws. I am charged with bringing
justice for those who harm, for those who are harmed.
I am charged with bringing justice for Charlie Kirk.
Speaker 4 (05:12):
Utah County Attorney Jeff Gray says DNA matching Robinson was
found on the rifle that investigators think was used in
the shooting. He also says Robinson confessed in text messages
with his roommate whom he was dating. The judge set
the next hearing for the end of this month, when
Robinson could be asked to enter a plea.
Speaker 3 (05:29):
Well, let's turn to the nation's capital now. Nathan and
FBI Director Cash Pttel clashed with Democratic senators during the
first of two oversight hearings this week, and Bloomberg's Amy
Morris has more from Washington.
Speaker 8 (05:41):
Patel faced criticism from Senate Democrats over his handling of
the investigation into the death of conservative activist Charlie Kirk
and Patel's leadership. Three former senior FBI officials are suing
over their firing, which they called retribution. Patel responded when
Democratic Senator Corey Booker said he didn't think he'd be
in that job much longer.
Speaker 2 (06:02):
That rant does not bring this country together. My god,
my god, if you want to talk about biding this country,
it is. I follow you on your social media posts.
Is come part? Your time over? Committee, Sir. You don't
tell me my time is over? You know how tell
me what my time is next.
Speaker 8 (06:21):
Patel will testify before the House Judiciary Committee in Washington.
Amy Morris Bloomberg Radio.
Speaker 2 (06:27):
Amy Thanks.
Speaker 4 (06:28):
The White House says TikTok can continue operating in the
US until December sixteenth. The latest extension comes as Bloomberg
News has learned TikTok's US operations will be bought by
a consortium of US companies under a deal to be
discussed between President Trump and China's Shi Jinping. The framework
agreement involves a US based version of the app backed
by firms including Oracle, private equity firms Silver Lake and
(06:50):
Venture Capital Company andres and US Trade Representative Jamison Greer
says the deal represents a step forward in the ongoing saga.
Speaker 9 (06:57):
The TikTok saga has gone on for a long time.
Toward the end of his first term, President Trump set
about to solve it. Over the course of the Biden administration,
they grappled with this issue but could not solve it.
But as of yesterday, we believe that President Trump has
in fact resolved this issue.
Speaker 4 (07:14):
US Trade rep. Jamison grousepoke on Fox Business. Under an
initial agreement, a Chinese owned Byte Dance's stake in TikTok
would fall below twenty percent to satisfy a US law
that requires the Beijing based company to divest. President Trump
is set to speak with President she on the deal
this Friday.
Speaker 3 (07:31):
Well Ifan cheers of Nvidia down seven tenths of uppercent
this morning. The Financial Times is reporting China's internet regulator
has told the country's tech companies to stop buying all
of in Video's AI chips and terminate their existing orders.
The move comes as Beijing steps up efforts to boost
its homegrown semiconductor industry and compete with the US.
Speaker 4 (07:52):
And another tech giants seeing a slowdown in China. Karen
Apples smartphone sales fell six percent there in the weeks
leading up to the iPhone seventeen line. That's a deeper
slump than usual before a major product release. But Apple
wasn't the only one. China's overall smartphone market shrank two
percent in July and August. Companies with bigger market share
like shall Me, Vivo and Honor Device also saw declines.
Speaker 3 (08:14):
And Nathan take a platform. Stub Hub goes public today.
It prices initial public offering at the midpoint of a
marketed range to raise eight hundred million dollars. The company
shares will trade under the symbol STUB or stub. The
USIPO market is on a hot streak, with about four
point seven billion dollar raised since the Labor Day holiday time.
(08:39):
Now for look at some of the other stories making
news in New York and around the world, and for
that we're joined by Bluebers.
Speaker 2 (08:43):
Michael Barr. Michael, good morning, Good morning, Karen.
Speaker 10 (08:46):
Terrorism and first degree murdered charges were dropped against Luigi
Mangione after a judge decided the charges lacked sufficient evidence.
Prosecutors accused Mangioni of fatally shooting United Healthcare CEO Brian
Thompson last December and Manhattan as an act of terror.
The twenty seven year old still faces second degree murder
charges and has pleaded not guilty. Former CDC director doctor
(09:10):
Susan Manaris will appear before the Senate Health Committee today.
Manaris is expected to testify about her firing and her
month working for Health and Human Services Secretary Robert F.
Kennedy Junior, one of its members. Senator Susan Collins, spoke
about doctor Manares when she appeared before the World Medical
Innovation Forum in Boston.
Speaker 5 (09:32):
Susan put it best to me.
Speaker 2 (09:34):
She said that she just she was asked.
Speaker 1 (09:38):
To fire all these people and refused to do it.
Speaker 10 (09:42):
Senator Collins, a main Republican, lauded Manaris' work and says
she looks forward to going into further detail on her
firing In New York City. We'll find out later this
morning about the future of a casino in Times Square.
A final vote is expected on whether the casino proposal
moves forward. There have been demonstrations on both sides for
(10:03):
and against the Caesars Palace casino that is currently the
home of the Men's Gough Theater. The Food and Drug
Administration says it is conducting an independent physician investigation into
the twenty five reports of child doubts after receiving COVID vaccines.
FDA Commissioner doctor Martin mckarey says self reported underified cases
(10:25):
are part of a database that are available to the
public but need to be investigated.
Speaker 11 (10:29):
Some people say, you shouldn't be looking at this, You
should not be sharing data like this with the public
because it may lead some to question the vaccine. We
believe in full transparency people can make their own decision.
Speaker 10 (10:40):
FDA Commissioner, Doctor Martin mckarey. Global News twenty four hours
a day and whenever you want it with Bloomberg News Now.
I'm Michael Barrn. This is Bloomberg Karen.
Speaker 3 (10:50):
Thanks Michael. Time now for our Bloomberg Sports update, and
for that we bring in John stash Hour.
Speaker 2 (10:56):
Thanks Dren.
Speaker 12 (10:56):
The Seattle Mariners made it ten wins in a row.
It was twelve to five at Kansas City is Dominic.
Canzone hit three home runs and Cal Rowley hit two.
He has fifty six home runs on the season. It's
the most ever for a switch hitter, passing Mickey Mantle.
The NFL says it's okay with Tom Brady, who is
a partial owner of the Las Vegas Raiders, being in
(11:17):
the coaching box during a game. Many pointed to a
conflict of interest, and Brady is also an announcer for Fox.
Speaker 2 (11:24):
That's your Bloomberg Sports Update. Stay with us.
Speaker 3 (11:28):
More from Bloomberg day Break coming up after this.
Speaker 1 (11:35):
Coast to coast on Bloomberg Radio nationwide on Serious Exam
and around the world on Bloomberg dot Com and the
Bloomberg Business opp This is Bloomberg Daybreak.
Speaker 2 (11:45):
Good morning.
Speaker 4 (11:46):
I'm Nathan Hager, and they're pulling out all the stops
of Windsor Castle for President Donald Trump's second state visit
to the UK, getting a royal welcome from King Charles
the Third. Looking to talk trade. As he told reporters
before he left the White House, they want.
Speaker 11 (11:58):
To see if they can rebind a great deal a
little bit.
Speaker 12 (12:00):
We've made a deal and it's a great deal, and.
Speaker 2 (12:04):
I'm into helping them. Our country is doing very well.
Speaker 4 (12:07):
That was President Trump ahead of his arrival in the
UK and joining us this morning from Windsor Castle is
Bloomberg's Lizzie Burden.
Speaker 2 (12:14):
Lizzie, thanks for being with us.
Speaker 4 (12:15):
Set the scene for us, because no one really sets
a scene quite like the royals.
Speaker 2 (12:20):
Good morning, hey, Nathan.
Speaker 13 (12:21):
You're absolutely right. Pump and pageantry is what we do
best here in the UK. And of course this is
a second unprecedented second state visit for Donald Trump.
Speaker 14 (12:30):
You might remember his first one at Buckingham Palace.
Speaker 13 (12:32):
They're all sat round for a state banquet and everyone's
in their finery. But only as they sat down did
a tabloid newspaper break that he was critical of then
Prime Minister Theresa May a deeply embarrassing interview in digestion
for all. So there are lots of potential pitfulls again,
this time maybe on Palestine, maybe on Jeffrey Epstein. We've
(12:55):
just lost our UK ambassador to Washington over his links
to Jeffrey Epstein. On the agenda today, see the President,
the First Lady, Welcome to Windsor by the King and Queen.
They'll have a carriage procession through the grounds of the
estate with the Prince and Princess of Wales. Apparently the
President's taken a shine to Prince William. He said he
(13:15):
was very handsome when he met him in Paris last year,
and so the Palace is keen to deploy him once again.
Speaker 14 (13:21):
Then they're going to have a private.
Speaker 13 (13:23):
Lunch, they're going to lay a wreath at the tomb
of the late Queen Elizabeth, and then we're going to
have a flypass of UK and US F thirty five
jets along with the Red Arrows, so pulling out all
the stops. The hope, of course, is that all of
this soft power translates into hard cash for the UK.
Speaker 4 (13:42):
Yeah, in terms of potentially softening the President to maybe
make some concessions when it comes to trade. You've got
to think that for Prime Minister Cure Starmer, this trip
is going to be crucial.
Speaker 14 (13:52):
It absolutely is, and it couldn't come at a worse
time for the British Prime Minister.
Speaker 13 (13:56):
It has to be said, his party is floundering in
the polls behind notably Donald Trump's friend Nigel Farrar is
the leader of Reform UK. He has his colleagues talking
about replacing him, but they just don't know who to
replace him with. Just this morning we had the UK
inflation numbers the highest again in a year and a half,
(14:17):
on a week of a Bank of England decision. And
really it's all coming to a head for kir Starmer
because just this past two weeks he's lost three from
his government, including as I say, Peter Mandelson, the UK
ambassador to Washington, but also the Deputy Prime Minister, also
his chief of strategy, and so it's going to give
Donald Trump leverage over Starmer. He will be very aware
(14:40):
of the weakness of the UK Prime Minister.
Speaker 14 (14:41):
Right now, just.
Speaker 4 (14:42):
Thirty seconds left, Lizzie. But we've heard about all the
tech deals that have been made in the UK leading
up to this.
Speaker 2 (14:47):
What more is the UK hoping to get.
Speaker 13 (14:50):
Yeh ten billion dollars of economic agreements expected in addition
to that US UK trade deal already, perhaps we could
get more on AARI. We've already had the likes of
Google pledging money.
Speaker 14 (15:03):
They're billions of pounds.
Speaker 13 (15:05):
But look, when it comes to Steeal tariffs, it doesn't
look like Starma is going to get any better than
the twenty five percent already agreed, and it doesn't look
like there's much more to come on Scotch Whiskey Tariffs either.
Speaker 3 (15:18):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 4 (15:25):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 3 (15:31):
You can also listen live each morning starting at five
am Wall Street Time on Bloomberg eleven three to zero
in New York, Bloomberg in ninety nine to one in Washington,
Bloomberg ninety two nine in Boston, and nationwide on serious
XM Channel one twenty one.
Speaker 4 (15:45):
Plus listen coast to coast on the Bloomberg Business app
now with Apple CarPlay and Android auto interfaces.
Speaker 3 (15:51):
And don't forget to subscribe to Bloomberg News Now. It's
the latest news whenever you want it in five minutes
or less. Search Bloomberg News Now in your favorite podcast
platform to stay informed all day long.
Speaker 2 (16:03):
I'm Karen Moscow and I'm Nathan Hager.
Speaker 4 (16:05):
Join us again tomorrow morning for all the news you
need to start your day right here on Bloomberg Daybreak
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