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Good morning.
I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today.
Karen, we begin in Israel, where events continue to unfold after six Israeli hostages were found shot dead in a Gaza tunnel over the weekend. Prime Minister Benjamin Natuna, who has responded with a defiant press conference saying Israel will not meet Hamas's demands to give up control of the border area between Gaza and Egypt.
I don't believe that either President Biden or anyone serious about achieving peace and achieving the release would seriously ask Israel Israel to make these concessions.
We've already made them, Israeli Prime Minister Natunyah, who is also apologizing to the bereaved families. He says the nation must maintain permanent control over the Philadelphi Quarter. He's accusing Hamas of using it to import arms that it's used against Israel.
Meanwhile, Nathan, Israelis took part in labor strikes and nationwide protests Sunday to try to force antan Yahoo's government to agree to a cease fire and secure the release of hostages. Many post offices and bank branches were closed, while the country's main airport suspended some takeoffs, and a number of shopping malls and high tech firms shut their offices as well. They were the largest protests since the deadly invasion by Hamas that set off the war last October.
Karen Netanyah, who is also feeling pressure from President Biden, he says the prime Minister's not doing enough to reach a deal. The President was asked if he has spoken to Netayah, who about the negotiations where the.
Sting dustration not with him as mark College cover from US.
The President says he will speak with Israel's Prime minister eventually, and he promised that Hamas leaders will pay for the murders. Netan Yahoo contended during his news conference that the only way for Israel to achieve total victory is to destroy Hamas's military and governing capabilities.
Meanwhile, Nathan the UK says it's suspending some licenses for arms exports to Israel after concluding the use of British components in Gaza could violate international humanitarian law. Bloomberg Israel Bureau chief Evan Bronner says the move is more symbolic than practical.
It's not a major export to the major exporters to Israel of arms of the US and Germany. I think after that comes Italy. The UK's down on the list. But the UK is considered an important ally and friend to this country, and so the idea that it would take this set of steps to limit arms exports, so you know, it makes it harder for them.
Bloomberg's Ethan Bronner says the UK suspension does not amount to an arms embargo on Israel.
Bank hear in the US, Karen, the presidential election, we can say is in full swing now. Following the Labor Day holiday, Vice President Kamala Harris told the United steel Workers Union in Pittsburgh she would oppose the sale of US steel to Japan's Nippon Steele.
US Steele is an historic American company and it is vital for our nation to maintain strong American steel companies. And I couldn't agree more with President Biden. US steel should remain American.
Owned, an American operator.
Now.
The statement is Kamala Harris's first on the proposed deal. It does align with President Biden, who has also pledged to keep US Steel domestically owned. Republican nominee Donald Trump has also called for the transaction to be blocked. The former president did not have any campaign events over the holiday weekend, but he and Harris will return to Pennsylvania next week when they face off for the first time in the ABC News hosted presidential debate on September tenth.
That's going to be held at the National Constitution Center in Philadelphia.
Well, Nathan, we have a number of international election headlines this morning. Venezuela has ordered the arrest presidential candidate and Mundo Gonzales. It's an escalation of the government's crackdown on dissent. In the wake of a disputed election, Venezuelan authorities declared President and Nicholas Maduro the winner to a third term, despite the opposition uploading voting wrecords that show Gonzalez won in a landslide. The US government may be ready to
take action as well. Documents seen by Bloomberg show the Treasury Department is close to announcing fifteen individual sanctions on Maduro affiliated officials, Sources tell Bloomberg. The State Department also plans to impose visa restrictions on thirty four relatives of government officials.
Meanwhile, in Germany, Karen Chancellor oll Off Schultz's ruling coalition was punished in two regional elections in Eastern Germany. Populist parties on the extreme right and left took more than sixty percent of the vote in Turingia almost half in Saxony, representing the first triumph of a far right party in
a German state ballot since World War II. The results dealt another blow to Schultz and his deeply unpopular government and could prompt renewed co for an early general election in Germany.
Well, we also have a key company news out of Germany, Nathan Volkswagen's considering closing factories in its home country for the first time in its history. The cost cutting move would attempt to end the company's three decades old pack with workers to keep jobs secure. Bloomberg's Elizabeth Berman says Volkswagen's set up for a showdown with workers and government.
To push through any big decisions, any big savings plan, management needs the support of worker representatives that make up half the supervisory board. There's also the state of Lower Saxony that has a big stake. Also has seats on the supervisory board. They usually side in decisions with the worker representatives, and then management also needs to win over the billionaire owner family.
And Bloomberg Auto's editor Elizabeth Berman says Volkswagen's profit margins have been squeezed thanks to increase competition from electric car makers and a broader consumer spending slowdown.
In Brazil, a Supreme Court justice has ordered the shutdown of X former elite Twitter, saying it violates his orders to remove misleading content. The ruling marks the biggest blackout X has faced in a country where it has widespread adoption. X's billionaire owner Elon Musk, is decrying the move as censorship. He called the judge a dictator in a post to the platform.
Well elsewhere in company news, Nathan Sources tell Bloomberg Goldman Sachs plans to dismiss a few hundred employees in coming weeks as part of the firm's annual call of low performing staff. It would bring total cuts in twenty twenty four to about three to four percent of the bank's workforce, in line with the bank's typical approach to keep a lid on costs. Goldman's stock climb to an all time high at the end of last week.
And this morning, Karen futures are trading lower as we enter the first trading day of September. Bloomberg's John Tucker joins us with the preview.
John and Nathan September has the unenvy built distinction of being known historically as the worst month for stocks. On Friday, stocks spiked in the last ten minutes of Wall Street trading, with the IS and P five hundred finishing close to its old time high. That came after the Fed's preferred measure of inflation rose at a mild pace. A manufacturing data later today is going to mark the start of
a pretty busy week of economic reports. The jobs report at the end of the week might bring some clues to the size of a rape cut this month from the Federal Reserve. Markets are currently pricing to start to policy easing, with a roughly one in five chance of a fifty bases point cut's, according to data compiled by Bloomberg John Tucker Bloomberg Radio.
All right, John, thank.
You when it's time now for a look at some of the other stories making news in New York and around the world, and for that We're joined by Bloomberg's Michael Barr. Michael good Morning, Good morning Karen.
New York City's Caribbean festival, known as the West Indian Day Parade, turned into chaos and violence. Five people were shot after gunshots rang out along the parade route in Brooklyn. Police said four males and a female between the ages of sixteen and sixty nine were wounded. All are now in stable condition. In my PDE Chief of Patrol John Shell saying the gunfire was targeted.
This was an intentional act by one person towards.
A group of people.
We do, not, by no means have any active shoot up or anything of that nature running around easton palk We as we speak.
Chief Shell says, if anyone has any video to help catch the shooter, please call the police. After the Labor Day holiday, delays are expected to continue at Newark Liberty International Airport After equipment outages related to radar Monday afternoon, the FAA issued a ground stop, which threw the normally busy schedule into a tail spin and cost travelers extra money.
I would say probably like five seven hundred more than it was supposed to with food, travel expenses, actual hotel costs.
According to fly Aware, more than three hundred flights were delayed and dozens canceled. Police in the Chicago area have arrested a suspect in a fatal shooting on a moving subway train. A gunman killed four passengers in the suburb of Forest Park, the last stop along the CTA's Blue Line, about fifteen minutes west of the city. Authority say the horror unfolded on two separate subway cars. The suspected shooter was tracked down on an entirely different train line by
a police using surveillance video. In Connecticut, one person is dead and two others are missing after a major boat accident in Old Saybrook. Officials say the accident happened last night near the Harbor One Marine. When emergency crews arrived, they say they found a half submerged single motor boat with significant damage. Athority say the boat, with nine people on board, hit an east facing jetty at the mouth of the Connecticut River. This man lives nearby.
Eventally they hit the jetty at the end of the spot. At the end of the jetty is a big spike goes lit fifty feet. Tholu says long Island Sound around the peril and I fixed there but a month ago, and I think he was going too fast and hopefully we'll find the people.
They were alive.
Six other people were taken to an area hospital. Global News twenty four hours a day and whenever you want it with News Now on Bloomberg. I'm Michael Barr, and this is Bloomberg.
Karen. All right, Michael Barr, thank you time now for the Bloomberg Sportes update with John stash Hour.
John, Good morning, Good morning Karen.
After swifting the White Sox, the Mets returned home to face the Red Sox. Got seven strong innings with the waist seven Arena, a game with all the scoring coming to the first four innings. Mets won four to one. They moved ten over five hundred. They're only a half game behind it Lent in the race for the last NL Wildcard. Half game is fill with the Yankees leave the Orioles by Baltimore now getting to flit the lowly
White Sox. The Orioles won thirteen to three. Shott was the eleventh loss in a row, one hundred and eighth of the season, and they've also lost each of Chris Flexen's last twenty starts. That's a dubious Major League record. Yankees in Texas Cleaver Torres to run double third inning, then five runs in the sixth RBI, doubles by Aaron Judge and Anthony Rizzo, and then they went yard.
In the eighth first pet swing eight, John Carlo Stanton swings bashes it high and deep center field at the one god four oh seven to straightaway seer Laote Taveres looked up, thought about alap and then just let it go.
He has been ready to call Yanks behind. Garrett Cole beat the Rangers eight to four. US Open top seeds lead the way into the quarterfinals. Yannik Center lost the first set in the opening round, has not dropped the set since last night, seven six, seven sixty six one over the American Tommy Paul Egusciantek. He yet to lose the set. She advances to a quarterfinal match tomorrow with
American Jess Piccula. Two American men have their Round of eight matches today in ash Stadium a first Tailor Fritzticky and Alex Saverev primetime. Francis Tiafla meeting Gregor a year ago Florida State had a thirteen ar oh regular season this year. There zero to two lost last night in Tallahassee to Boston College twenty eight to thirteen. Johns stashe one of Bloomberg Sports Karen Nathan.
Coast to Coast on Bloomberg Radio nationwide on Sirius XM, and around the world on Bloomberg dot Com and the Bloomberg Business app. This is Bloomberg Daybreak.
Good morning, I'm Nathan Hager. There is new pressure on Israeli Prime Minister Benjamin Natan Yahoo to come to a ceasefire and hostage release deal with Hamas after the killings of six Israeli hostages inside tunnels in Gaza. But the Prime Minister is standing firm.
We say yes, they say no all the time, but they also murdered these people and now we need maximum pressure on Kamas.
That was the Prime Minister last night in a defiant news conference following a weekend of massive protest in Israel. Joining us now is Bloomberg's News director for Europe, the Middle East and Africa, Rosalind Mathison Roz, Good morning. The Prime Minister talks about keeping maximum pressure on Hamas. What is the pressure like on him though to come to a deal.
Well, the pressure has been quite intense from the US and elsewhere. We've seen quite sizable protests in recent days. Although the protests today look like they have tapered a bit, they are smaller in size, so maybe some of that initial pressure is fading. But certainly you're seeing a high level of frustration both within within Israel itself but also allies including the US, about how after months and months of conversation, we're still not really much closer to an
agreement for a ceasefire in Gaza. You know, fundamental points that Israel has, fundamental sticking points that Hamas has also, and the Israeli Prime Minister says that he feels that Israel's given enough ground there in the conversation and they're not willing to concede more. His concern is, you know, some of the things that are on the table might allow Hamas potentially to regroup into rearm and come back at Israel yet again in the aftermath of the October
seven attack. So he says he's got some lines in the sand in the conversations. So the question is where did these conversations go from here? Is there any way through in the negotiations, because the clock is ticking not just for Gaza and in the war, but also in the US political cycle for example, and the US is going to run out of road in the current administration to get a seisfy navigated.
Well, let's talk about where the negotiations stand right now. I mean, we've had these sort of indirect talks with an Israeli team meeting with US katri and Egyptian officials and Hamas sort of on the sidelines. Where do things stand right now?
Well, there are currently no formal negotiations going on. After the last round again proved inconclusive. There have been various proposals that have come up that haven't really eventuated. There are reports the US is getting towards what they would call it take or leave it final proposal to try
and force both Hamas and Israel to agree. But you know, it doesn't necessarily again overcome those fundamental sticking points, which are about, for example, what would be the purpose of the ceasefire even Is it to have a pathway to ending the conflict or is it just a temporary truth that would allow fighting to resume. And it's quite a risky thing for the US to say, look, this would be the final offer from US, and otherwise we're kind of walking away and it's too hard to continue from here.
But we need to see whether there's going to be any momentum to bring parties together for yet another round of talks in Kuta, for example, in the coming weeks. Currently nothing is scheduled.
Just thirty seconds left. Ros Well, we've seen massive protests by Israelis when it comes to putting pressure to get some kind of deal in the past. Is there any evidence that these latest protests could have any impact.
Well, certainly they reflect a deep sort of feeling of frustration within Israel which was there before the war.
There were big.
Anti protests that we're going on that kind of came to a halt when the war began, and there's frustration over his leadership that was there, over the state of the economy bubbling away throughout. The question is is it sort of fading again for the minute At some point as and when the war does potentially draw to a close, those issues are really going to come to the four for Netnyahu, but they're unlikely to force a major change in path for him. In the minute.
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I'm Nathan Hager, I'm Karen Moscow.
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