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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 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.
They say Windsor castles the ultimate right, says President Trump, while the British government is certainly hoping.
So.
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 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, Britain has a golden opportunity to make its case to the most powerful political and tech leaders in the world.
So while we wait for more on that potential opportunity, Caroline, what are some potential pitfalls though?
For Prime Minister care starmer Well.
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 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 Capex for UK data centers really deliver growth in jobs. There could be many many questions that come up in that press conference.
All right, Bloomberg day Break here Baker, Caroline Hepger, thank you for this. We'll be checking back with Caroline throughout the morning.
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 the message, raising his voice and commanding them to turn twenty degrees right immediately.
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.
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.
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 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.
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.
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.
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.
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.
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.
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.
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.
Patel will testify before the House Judiciary Committee in Washington. Amy Morris Bloomberg Radio.
Amy Thanks.
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 Venture Capital Company andres and US Trade Representative Jamison Greer says the deal represents a step forward in the ongoing saga.
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.
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.
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.
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.
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. 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.
Michael Barr. Michael, good morning, Good morning, Karen.
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 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.
Susan put it best to me.
She said that she just she was asked.
To fire all these people and refused to do it.
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 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 are part of a database that are available to the public but need to be investigated.
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.
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.
Thanks Michael. Time now for our Bloomberg Sports update, and for that we bring in John stash Hour.
Thanks Dren.
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 the coaching box during a game. Many pointed to a conflict of interest, and Brady is also an announcer for Fox.
That's your Bloomberg Sports Update. Stay with us.
More from Bloomberg day Break coming up after this.
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.
Good morning.
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.
To see if they can rebind a great deal a little bit.
We've made a deal and it's a great deal, and.
I'm into helping them. Our country is doing very well.
That was President Trump ahead of his arrival in the UK and joining us this morning from Windsor Castle is Bloomberg's Lizzie Burden.
Lizzie, thanks for being with us.
Set the scene for us, because no one really sets a scene quite like the royals.
Good morning, hey, Nathan.
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.
You might remember his first one at Buckingham Palace.
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 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 was very handsome when he met him in Paris last year, and so the Palace is keen to deploy him once again.
Then they're going to have a private.
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.
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.
It absolutely is, and it couldn't come at a worse time for the British Prime Minister.
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,
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 of the weakness of the UK Prime Minister.
Right now, just.
Thirty seconds left, Lizzie. But we've heard about all the tech deals that have been made in the UK leading up to this.
What more is the UK hoping to get.
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.
They're billions of pounds.
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.
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I'm Karen Moscow and I'm Nathan Hager.
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