Trump Ally Shot Dead, Mandelson-Epstein Email Cache, NATO-Russia Risks

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This is the Bloomberg Day Bake You podcast. Good morning, It's Thursday, the eleventh of September. I'm Caroline hepkea in London and.

I'm Stephen Caroline Brussels. Coming up today. Police in Utah are searching for the killer of Charlie Kirk, a conservative activist and close ally of US President Donald Trump.

I Think the World of View, Bloomberg obtains revealing and embarrassing emails between Britain's ambassador to the US, Peter Mandelson and Jeffrey Epstein.

Plus seeking supporters. Poland calls on NATO allies to bolster its air defenses after Russian drones were shot down over its territory.

Let's start with a roundup of our top stories. A search is underway in the United States for the killer of conservative activist Charlie Kirk, who was shot dead at a university in Utah. Kirk, a close ally of the US President, was speaking at an outdoor event when police say a single shot was fired from a nearby building. Donald Trump reacted to the killing on social media.

For years, those on the radical left have compared wonderful Americans like Charlie to Nazis and the world's worst mass murderers and criminals. This kind of rhetoric is directly responsible for the terrorism that we're seeing in our country today, and it must stop right now.

US President Donald Trump. There Kirk was one of America's most prominent conservative figures, leading the organization Turning Point to USA. His popularity had flourished using a brash approach to politics and as an online champion of Trump and his MAGA movement. The shooting is the latest, though in a spate of

News has obtained more than one hundred previously unreported emails between Jeffrey Epstein and Peter Mandelsson between two thousand and five and twenty ten. The interactions between the UK's current ambassador to the US and the late disgraced financier cast new light on their relationship, showing that it was deeper than previously known. Bloomberg's Chris pet Has more.

The day before Jeffrey Epstein reported to a Florida jail in June two thousand and eight to begin serving time for soliciting sex from a minor. He received an outraged message from a friend, anguished at the injustice of it all. I think the world of view and I feel hopeless and furious about what has happened, Peter Mandelson wrote in an email obtained by Bloomberg News. I still can barely understand it. It just could not happen in Britain. At

I regret very much. Indeed, I felt it like a like an albatross around my neck. Since his death in two thousand and eighteen or nineteen when it was I feel a tremendous sense of regret, not only that I met him in the first place, but I continued the association.

Despite those comments on the Harry Cole Saves the West podcast, the UK's Prime Minister Keir Starmer now faces growing calls to sack Mandelson as ambassador to the US. Conservative opposition leader Kemmy Baiden Not called the situation a disgrace in London. Chris Pitt Bloomberg Radio.

In other news, Bloomberg understands Poland has asked NATO allies for more air defense systems after shooting down Russian drones that crossed its border yesterday. WARSAW has invoked Article four of the alliance's treaty, triggering consultations that could lead to coordinated action. Polish Foreign Minister Vardislaw Sikowski says they need patriot missiles and new technology to protect their skies.

We need to.

Create what ursula forman lane called today in the European Parliament at her annual State of the Union address a drone war. This is a threat not only to Poland, This new technology of the mass use of drones is a threat to all of the EU and nature and mini to.

Face it together.

The Polish Foreign Minnesota was speaking as the country's Prime Minister, Donald Tusk said on social media that Poland has received proposals of concrete support from allies. Polish and Dutch jets were scrambled in the early hours to shoot down Russian drones yesterday, nineteen A space violations were registered.

Mexico was planning to impose tariffs of up to fifty percent on cars and other products made by China and several Asian exporters. The levees would apply to thousands of categories, from auto parts to steal to furniture, and would affect most effect countries with which Mexico has no trade deal. The Mexican Economy Minister Marcelo Erbrard described the proposed duties as part of efforts to protect jobs and industry. It's a move that would more closely align Mexico with US protectionism.

The CEO of City Group, Jane Fraser, says she's surprised by the resilience of the US economy mid a constantly evolving macroeconomic landscape. Speaking to Bloomberg, she said businesses now have more clarity on tax policy, on tariffs and deregulation.

One is always surprised by the upside and the resiliency of the US.

So let's look at what's gone on.

Is you've got to look at the collective impact of the tax policy, what's been happening with tariffs and indeed the increasing deregulation that we're seeing, and they work together as a package. I think the most important piece for a corporate clarity.

We hate uncertainty, weight clarity.

And our client base now is really starting to act with more confidence.

Jane Fraser's position, though, contasts with that of UBS's CEO sgy Or Motty. He's told Bloomberg the impact of global tariffs on the US economy remains unclear.

The true show on taris will be seen on consumers in the US.

We will need to see exactly if there is any inflationary.

Aspect of tarift and is.

That still unclear at this point I think is unclear.

So the comments from two of the world's most prominent bank CEOs comes ahead of today's USCPI data, which is expected to show a zero point three percent month or month price rise. Investors have fully priced in a quarter point rate cards at the Federal Reserves meeting next week.

The European Central Bank, meanwhile, has expected to leave interest rates unchanged that its decision today, as economists believe policymakers are finished with cuts for now. Bloomberg's Micalcobala reports all.

Fifty nine economists in Bloomberg survey predict the ECB will hold its deposit rate at two percent today. They're also expecting that fresh quarterly projections from the central Bank should calm fears that inflation could sink below the banks two percent target for too long. Most ECB officials are said

Michael Kobola Bloomberg Radio.

Those are top storys for you this morning. Looking at the market, so eupins dogs are up about a quarter of one percent, fifty one hundred up by half of one percent, and still futures for the US market open s and P five hundred futures are barely about a tenth of one percent. So it does seem that markets are holding their breath awaiting the USCPI data.

Also the ECB decision.

I mean, maybe not this month, the most important month perhaps December, when we're also expecting we are expecting a rate cart markets, that is from the ECB. In terms of the euro, we trade at one sixteen ninety one, so slightly weaker for the euro against the stronger dollar. Gold is down three tens. Oil prices are steady, and in the bond markets, ten year US treasury yields trading a four.

Spot zero five.

Germany yields had two sixty six, up about a basis point.

Stephen the Karlender the key market story of course, that dry things yesterday, and I'm watching shares take higher and pre market trading on Wall Street against today is oracle. So the software companies results are not beat forecast. Push shares thirty six percent hire yesterday. They're up about another one point seven percent in pre market today. So yesterday we saw eighty nine billion dollars being added to the fortune of co founder and chairman Larry Allison, the biggest

Yeah, absolutely what you can read more about that on the terminal and also really about what it means for valuations. Bloomberg's Shirley Ren writing about this what is fair value for a tech company? Now? She says that the question's no longer got really good answers because os ficial intelligence has upended so much. I mean, that's the story you're always on the watch for, how artificial intelligence is rapidly changing business and markets.

Okay, Well, in a moment, we're going to bring you more on our exclusive reporting regarding the emails between Peter Mandelson.

And Jeffrey Epstein.

Plus we'll be discussing the issues of European Security. Poland now convening a meeting of the UN Security Council to address the Russian encursion of drones into its territory yesterday. But I want to turn back to our top story this morning, first and the shooting of American political activist Charlie Kirk in Utah. Our reporter Tiwa Adebayo has been following this story for US this morning. Tiwa, what do we know now about what happened?

Kirk was at Utah Valley University as part of his political advocacy group Turning Point in Usay's American comeback tours, it's been dubbed, and he was taking part in an event entitled Proved Me Wrong, where the audience attempts to sort of stump the pundit. It's something he's widely known for online. And at that event where the shooting took place, there was more than three thousand people present, according to the university police chief.

They also had put on security.

There were six local police officers alongside Kirk's own security detail. But just twenty minutes after that event started, authorities say a single shot was fired at Kirk from a building about two hundred yards away. He had actually just begun answering a question on the number of mass shooters in America over the last decade, and after the shooting, he was driven to a local hospital where he later died

Tell us about Charlie Kirk and why he was so influential and why he might have been targeted well.

Charlie Kirk was perhaps best known for.

His work as executive director of Turning Pount USA. He founded that group in twenty twelve and it was funded by powerful conservatives. But really the hallmark of his work was youth engagement and that took him to university campuses around the world. We mentioned earlier that trademark proved me wrong event Those debates often went viral on social media and really were a big part of his notoriety and fame.

Okay, t, thank you very much. That's our reporter too, had a bio there and we heard a little bit of President Trump's reaction to that killing earlier, and there's also been condemnation of the killing from the likes of Joe Biden and Barack Obama as well have offered their condolences to Charlie Kirk's family. Stay with us. More from Bloomberg Daybreak Europe coming up after this.

Now to politics, who are in the UK.

The emails between Peter Mandelson, the British ambassador to the United States, and the disgraced financier Jeffrey Epstein that have been seen by Bloomberg News interactions between twenty five and twenty twen, which reveal new details about their relationship. Our fun As reporter Harry Wilson joins us Now for more. It's interesting because Lord Manderson Peter Manderson a referenced the fact in recent TV interviews and commentaries that maybe more

Well, the emails are really an extraordinary insights into the relationship between Peter Manderson and Jeffrey Epstein. I think what you see is just the depth of their friendship. The fact that Manderson was so supportive seemingly to Epstein throughout what is now obviously an incredibly controversial period in time. And I think it shows that Manderson it wasn't just supportive, he was an active, I guess, sort of helper in some ways of Epstein.

These emails days from fifteen years ago. What do their publication now mean for Peter Mandelson and his current role.

It remains to be seen. He's obviously under an enormous amount of pressure. The Prime Minister kissed Arma is under enormous pressure to react to this. There's countless cause now for Manderlsson to be removed from his post. I can't believe obviously that these emails will do anything to improve his situation. And I think there must be a clock ticking now on when the government reacts to it.

And it's the question around judgment, isn't it. And Mandelson is obviously a well known political figure in the UK, instrumental in Tony Blair's government, but now we have a labor government in power and he is US ambassador all the more important. I mean he's a hugely well known figure. What has he said about this? In response?

He's kept up a line which he's had actually really for many years, which is that he very much regrets his association with Epstein. He says, you know, this is association with him went on far too long. And frankly, this use of this word association is really quite ridiculous. I mean, it was a friendship that they had, It wasn't an association. That's just some mediam mouth words that

And I suppose what does it mean for government? That's the other issue. How important is it when Mandelsohn is meant to be representing the UK in the US. This is a very difficult position for the Prime Minister, surely Kistarma to be. So what do you think is going to be the balance and the discussions that are being had maybe behind closed doors in government on this point.

I think this is probably epically bad timing for the government. Next week we have Trump flying into the UK for his state visit and to have the ambassador to Washington embroiled in a Epstein scandal, which is obviously for the Trump administration a major sort of exposed nerve. So it's really hard to think of a worse situation for them at the time, and this must be hugely unwelcome.

Harry, This series of emails has a lot of prosess a lot of questions as well, with a lot of factors unknown in them as well. Where do you see this story going from here? Are there further questions that are going to have to be answered about the content of There.

Are going to be firm questions. I think it's people will want to know exactly what level of support was Mandelson providing to Epstein during his investigation and later incarceration for procuring sex from a minor. I mean, these were exceedingly serious charges and to say, now, well he was lied to and this sort of thing. But he's you know, he's a grown man, he's an educated man. I mean he should have known better.

Harry, thank you so much for being with us.

The details of this story are in a long read and I would say to our listeners to have a look at it. UKM Bassat told Epstein, I think the World of View emails reveal. So this is a number of Blimberg reporters, including Harry Wilson, that you just heard there on these important revelations really around the emails and the content of the correspondence between Mandelson and Jeffrey Epstein are dating back to the two thousand. So thanks to our finance reporter Harry Wilson, what to.

Worth and he is now. Poland's Foreign ministry says that UN Security Council will hold a meeting to discuss the encouragement by Russian Joe into its airspace yesterday. The country's already saw consultations with NATO allies, which could lead to a joint response. Bloomberg Opinion columnist Mark Champion joins us. Now for more, Mark, you've been writing about this drone

This, Yes, well, I think.

Less perhaps what is done at the UN Security Council, which will be you know, given that Russia sits there has a veto, it will be you know, interesting theater. There will be plenty of fireworks and you know, diplomatically, you know, there'll be a lot of focus on it.

Thousand drones at you in a wave.

How do you deal with that?

Okay, alarm bells on the basis of what you say, must be ringing loudly across Europe. And I just contrast that with what the first Sea lot here in Britain said this week about the DSi event. So this major gathering of the defense industry, basically the arms industry in London, and he's talking about my mission is to move the Rule Navy to war fighting readiness over the next four years. I mean, surely those sorts of statements that we're hearing about,

Well, you know, in fairness to the polls, they are the one native country that has responded, you know, with urgency to the war in Ukraine. So they have massively increased their defense spending and now are you know, probably the second largest European military force after Turkey and Nata, and so you know they have responded the UK. In fairness to the UK also, it has a contract that they're just rolling out as it happens to mass produce interceptor drones with the Ukrainians.

These are the.

Things that you Ranians are turning to, you know, other small, other cheap drones that are a bit faster than these gerberas or the Ghiran drones, the shah heads, and they chase them and fight and shoot them down. The thing about this is that any solution is produced has to be dynamic, because as soon as you produce something, the Russians produce a counter and you then have to upgrade what you have.

The Ukrainians are.

Doing this all the time, every day in the field. They have direct lines of communication between the front lines and the people who are making the drones, the counter drones that ew, the electronic warfare equipment and so on, always feeding back. And this is the kind of thing that NATA is going to have to learn to do.

We heard Orislov underline yesterday in her Stage of the Union speech talk about the need for a wall of drones on the EU's eastern flank. I mean it's something like that realistic given what you're saying.

Well, it is. I mean, it's what the Ukrainians are doing. The Ukrainians are producing millions of drones a year at this point, and it's what the rest of NATO has to, you know, think again about doing.

If you think about what the Cold War looked.

Like with tens of thousands of battle tanks, you know, lined up on either side, I think the way we need to think about this is, you know, these are in what is a new you know, cold War style conflict is developing. You know, the drones are the new battle tanks and we're going to have to mass produce them. They are the things that are going to protect us because the warfare now it can be done. It doesn't

Yeah.

Absolutely, So, you know I' imagining some of those lines of Jones. As you say, in terms of the US, surely the US response around NATO, maybe even the US president's response around this incursion into Poland is actually the thing that everybody is waiting for him. And there were some statements out of the US military about NATO, but is that what people are waiting for.

Absolutely what Trump does in the next few days is critical. The initial response that he had on true social is very worrying. Essentially what he said was, you know, what's what's this with you know, Poland? Russia sending drones at Poland?

Here we go.

It's like, you know, he's a spectator in the stands of an ice hockey game or something, and that is what, you know, the rest of NATA will be very concerned about.

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