From the Bloomberg Interactive Burgers Studios. This is Bloomberg day Break for Tuesday, June sixth.
Coming up today, Apple's thirty five hundred dollars Vision Pro headset gets mixed reviews.
Chris Christy throws his head into the Republican feel for President.
Jamie Diamond meets with a group of moderate House Democrats, and.
Hollywood actors are the latest to authorize a strike against film and TV studios.
Russian occupied Damn has been destroyed in Ukraine, threatening major flooding, plus asylum seekers in New York are being placed in houses of worship. I'm Michael barr More Ahead.
Uptown Stasharon Sports, Yankees host.
The White Sox that I met some in Atlanta.
Vegas trowns Florida for two nothing lead in the Stanley Cup Final.
That's all straight ahead on Bloomberg day Break, The Business news you need to sturn your day in just one fifteen minute podcast each morning on Apples, Spotify, the Bloomberg Business app, and everywhere you get your podcasts.
Good morning, I'm Nathan.
Hager and I'm Karen Moscow. Here are the stories we're following today.
We begin this morning with reaction to Apple's long awaited mixed reality headset. After the stock rally more than two percent before the product unveil, it closed down eight tenths of one percent. It's going to cost you a pretty penny to get this new headset, nearly thirty five hundred dollars. Bloomberg's Ed Ludlow covered the event from Apple headquarters in Coopertino, California.
Apple said this would usher in a new era of spatial computing, something akin to what the iPhone did for mobile computing. We got some demonstration of how existing catalogs of iOS or iPad apps could run on this mixed reality headset, as well as some more modern use cases. The thing that strikes you when you get up close and personal with the Vision Pro is its external power source, an external battery pack which leads off of a small cable.
It is a small form factor device, something akin to ski goggles, with a k running outs of it, made of carbon fiber aluminum, a proprietary alloy that Apple develops, and other fabrics and textiles for comfort.
Bloomberg's Ed Ludlow says the new Vision Pro will go on sale in the US early next year.
Well The new Vision Pro head said was the culbination of more than seven years of development. The product vaults Apple into the first major new category since it began selling smart watches in twenty fifteen. Apple CEO Tim Cook calls it a game changer.
So in the same way that Mac introduced us to personal computing and iPhone introduced us to mobile computing, Apple Vision pro will introduce us to spatial computing. This marks the beginning of a journey that will bring a new dimension to powerful personal technology.
And sores to say, Tim Cook and Apple are also working on a lower cost version of the headset.
Okay, let's turn from technology to politics now, Karen, because the Republican field for president is getting even more crowd and we get the details now from Bloomberg's John Tucker.
John Nathan. Former New Jersey gamna Chris Christy launches his bid for the Republican nomination for president at a town hall in New Hampshire tonight. Christy launched to Trump in twenty sixteen and went on to become a close on and off visor before breaking with a former president over his refusal to accept the results of the twenty twenty election. Earlier this year, Christy told ABC News the GOP must embrace the candidate other than Donald Trump to defeat Democrats.
I've said over.
And over again that he can't win a general election.
And that's not speculation. That's based upon the polling that I was privy to pre the twenty twenty election.
Christy is polling between one percent and zero so far. Bloomberg opinion columnist Jonathan Bernstein contends that Christy could dedicate his campaign to taking down Trump, siphoning votes from the former president. You know, York, I'm John Tucker, Bloomberg Daybreak.
All right, John, Thanks well, staying in politics, We'll see JP Morgan, Chase CEO Jamie Diamon meet privately today with a group of moderate House Democrats. We're told they'll talk banking and the economy, but there could be more than that on the agenda. Scott Carr reports from our Bloomberg ninety nine to one newsroom in Washington.
The closed door launch is with a new Democrat coalition, which describes itself as nearly one hundred forward thinking Democrats committed to pro economic growth, pro innovation, and fiscally responsible policies and comes. As Diamond is being Urged by some to enter the twenty twenty four presidential race, Diamonds told Bloomberg Television that a political career had crossed his mind.
Pershing Square CEO Bill Ackman encouraged diamond to run late last month, saying he's a centrist who could beat President Biden in a primary or former President Trump in a general election. Diamond says he has no plans to run in Washington. Scott car Bloomberg Daybreak.
Okay, Scott, thank you. Now, let's schedule the latest on US China relations. We've learned the State Department's top Asia official met with China's vice foreign minister yesterday in Beijing. Both sides are describing the top as candid and productive, but the relationship appears to still be strained.
Meantime, Nathan Chinese authorities could be making changes to the nation's banking industry in a bid to boost growth. We're told they're asking the nation's biggest banks to lower deposit rates for the second time in less than a year. Bloomberg News has learned state owned lenders last week were advised to cut rates and a range of products. Sources say banks are assessing the request and may adjust rates as early as this week.
Man back here in the US, careen of relations are about to get more strained. In Hollywood. There's a word of more labor issues between the studios and their workers. In Bloomberg's Jeff Bellinger has the latest.
Members of the Screen Actors Guild American Federation of Television and Radio Artists have authorized their union leaders to call a strike if contract talks with film and TV studios breakdown. The vote puts more pressure on the studios. Negotiations are set to begin tomorrow to replace a contract that expires at the end of the month. There is a lot of labor tension in Hollywood. Thousands of writers have been on strike since early May. Jeff Bellinger, Bloomberg Radio.
Ry Jeff thanks Well. Actors are looking for higher pay. It looks like it pays to be a chief investment officer at a US family office. According to a report from KPMG, the private investment firms of ultra wealthy Americans have the greatest number of money managers in that role, earning at least a million dollars a year. Family offices are traditionally loosely regulated entities that manage investments, tax affairs and philanthropy for the world super Rich.
Time now to take a look at some of the other stories making news in New York and around the world with Bloomberg's Michael barn Good Morning, Michael.
Good morning, Nathan. Russian occupied dam in southern Ukraine has been at least partially destroyed. It poses a risk of serious flooding to the Ukrainian held city of Kurson downstream. Both sides are blaming each other for the destruction. Meanwhile, the world is watching when Ukraine will unleash a counter offensive against Russia. White House National Security Council Coordinator John Kirby would not speak for their military, but said he was confident they are.
Prepared whenever they decided to step off on whatever they decided to do.
The President's confident that we did everything.
We could over the last six eight months or more to make sure that they had all the equipment, training, the capabilities to be successful.
National Security Council's John Kirby. New York City houses of worship will be taking in migrants to ease the city's crunch. Mayor Eric Adams announced a partnership with the nonprofit New York Disaster Interfaith services. The mayor says it will provide daily shelter, meals, and other services.
Up to fifty houses of wadship would be able to take part in this program to start with offer shelter to a combine nearly one thousand asylum seekers.
Mayor Adams says twenty two hundred asylum seekers arrived at city shelters last week alone. California's Attorney General says he is investigating after another planeload of migrants were flown to Sacramento and dropped outside of a church at the direction of Florida's government. AG Bob Banta says they are looking at possible charges.
Kidnapping is something that we're looking at, and the element of dress is important in that instance. We are also looking at other potential legal violations criminal as.
The flight is said to have come from Texas. One of America's most infamous and dangerous spies has died in prison. More from Bloomberg's Dan Schwartzman.
FBI agent turned Russian mole Robert Hanson has died in a maximum security prison in Colorado at the age of seventy nine. Beginning in nineteen eighty five, Hanson worked with the Russians providing highly classified information in exchange for one point four million dollars. Some of the information given by Hanson in more than six thousand pages, led to assets in Russia being hunted down. The Department of Justice has said in the past that Hanson's espionage was one of
the worst intelligence disasters in the country's history. Hanson was ultimately sentenced to life in prison without pearl in May of two and two two after pleading guilty to fifteen counts of espionage in New York. I'm Dan Schwarzman.
Bloomberg Radio, Global News twenty four hours a day, powered by more than twenty seven hundred journalist and analysts and over one hundred and twenty countries. Michael Barran, This is Bloomberg, Nathan.
Thank you, Michael. Time down for the Bloomberg Sports up date. Good morning, John stansh howurry morning, Nathan.
The Vegas goal the Knight's born in two thy seventeen Nathan Stanley Cup Final in their first season. Now back five years later in Vegas, two wins from hoisting the Cup after meeting Florida five to two in the series opened to US seven to two out of the Panthers who while seed TOD eight had been dominant in the East. They came into this series having won eleven of their last twelve games, led by the player their goalie, Serge Bebrowski, but he got benched last night.
Game three is Thursday in South Florida.
Sixty year old Greg Cronin, who's been coaching hockey for thirty six years, just got his first NHL head coaching job with Anaheim. It's been a month since the Rangers started looking for a new coach. Still no higher, no word yet on our and judges Big Toe Yankees holding their breath that it's not broken. Yanks home tonight till
the White Socks Mets are in Atlanta. Coco Goff's into the quarterfinals of the French Opening Tomorrow's to play the top seed in the Petty champ AGAs Schwaattach, who beat Golf in last year's final in Paris.
I mean, honestly since last year have been panting to play her on especially at this tournament. I knew, I figured that I was going to happen because I figured I was going to do well and she was going to do well. Didn't know what side of the troll we were going to be on obviously, but I'm the type of mentality if you want to be the best, you have to beat the best.
Novak Djokovic and the men's top seed Carlos al Karez both have their quarterfinal matches today. The NFL has made it known they are coming down hard on players caught gambling. Calvin Ridley just sat out an entire season. Five other players just recently suspended. An outward that Isaiah Rodgers, a cornerback for Indianapolis, has admitted that he's being investigated, and he reportedly placed hundreds of bets, including some on his own team. Rogers started half of the Colts games last season.
John stashedward Blueberg's.
From coast to coast, from New York to San Francisco, Boston to Washington, DC, nationwide on SYRIASXAM, the Bloomberg Business Appen, Bloomberg dot Com. This is Bloomberg Daybreak.
Good morning on Nathan Hager. It has been a few years coming, but Apple is betting that the future of computing is going to be in your face, sir, Actually more like on it. The Iphonemaker has unveiled its long awaited mixed reality headset, the Vision Pro at an eye popping starting price of thirty four hundred and ninety nine dollars. Dan Ives is with US now Managing Director, Senior Equity Analyst at Webbush Securities. Dan, it's always great to speak
with you. I saw your note after the unveil at the WWDC in Cooper Tino. You're calling this a flex the muscles moment for Tim Cook and company. Tell me more about what you mean.
Yeah, I mean, Nita. If you looked in the last decade, this is probably most revolutionary product you've come out, and I think for Apple this is really the evolution in terms of where it's going, not just on ar VR, but this is essentially the start of what's going to be a developer community focus more and more on AI mixed reality, and I view it as a flex the muscles moment as Apple is just showing their strength.
Although we have seen other entrance into this space. We've got Meta's Oculus Quest headset comes to mind as well, and it's at a much much lower price point than this Vision Pro. What is Apple in your view, going to do differently that competitors haven't done already?
Sure, Look, it's a great question. I'd say, it's really there's two billion, two billion iOS devices. That's the difference with the golden installed as a cooper, Tina, that's what Cook and Apple bring. You look at Meta, I mean they've essentially struck out in terms of their you know,
mixed reality and ar vision. I think everyone's been waiting for Apple because that's why they've had that golden touch if you look at the last decade, especially because of their ability to further penetrate in this right now is all about the developer community first, then the thousands and thousands of apps and use cases. Now I believe ultimately this is something two years out will have you know, north of a million units sold.
And take your point about the focus on the developer community, but is that golden consumer base that does really love the iPhone? Are they willing to pay more than twice as much for this headset as they do for their iPhones?
Now?
Sure, And I think initially you're going to have limited sales and we think one hundred and fifty thousand units coming out the consumers. It's really year two, year three, because I think in the next two or three years this price gets cut in half. I mean, we we'll probably be looking something like fifteen hundred for this, and that's what Apple does. It's carried in the stick approach.
That's the DNA of Cooper Tino, which is why the company you know, yet again on a three trillion dollar markoup.
Tell me a little bit more about how you think Apple's going to focus on the developer space. Obviously, you've been covering tech for quite some time here, you know the ins and outs of how the development community can sink its teeth into a product like this. What's the use case that you see for developers getting in at the early stages.
Well, yeah, USKS. First is going to be gaming, and then you're going to see more fitness, health. You're going
to do a lot more around ultimately theater sports. You saw the Disney relationship that they talked about, and I think it's the start of what's going to be a broader ais strategy for Apple because right now there's a Game of Thrones battle going on for developers between Google, Microsoft, Apple, but no one else has what Apple has, and that's why Cook decided to roll this out after seven years in the labs of Cooper Tina.
I heard you mentioned that you think they're going to sell one hundred fifty thousand units in the first year. I think I saw Apple saying that it could sell nine hundred thousand in the early stages. Talk to me a little bit about the outlook. Is Apple being a little bit too rosy here?
Yeah, Look, I think ultimately year two we're probably looking north of a million units. I think year one is something where you know, this is typically non Apple that's going to be optimistic in this. So the fact that they're you know, I think coming out of the gates firing and all cylinders is positive because ultimately it shows what they believe is going to be the overall demand.
I think the technology blewn away in terms of you know, what they've ultimately come out here with, And I think it just shows that when it comes to technology innovation, the highest standard there is is is what we see coming out of Couper Tina.
About thirty seconds left here, Dan, do you see headsets supplanting PCs down the line? Is this going to be the game change technology?
Why do you believe we're going to look back five seven years ahead at this is a reflection point, But I believe where it ultimately goes, these are going to be like Sunglasses two three years and now is not going to be a headset. That's that's going to be ultimately version three, version four, and that will start to ultimately take away from PC's That's where this is all going, and we believe events to the Apple Car twenty twenty six.
Wow, this is Bloomberg day Break Today, your morning brief on the story's making news from Wall Street to Washington and beyond.
Look for us on your podcast feed at six am Eastern each morning, on Apple, Spotify, and anywhere else you get your podcasts.
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I'm Karen Moscow. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak