lmnt. more electrolytes. zero sugar. you feel the difference when you get it right.tay salty. >> in the days and weeks ahead i, together with you, will do everything to unite our democratic party, unite our nation and to win this election. katie: that was vice president kamala harris speaking last night at a campaign event two staffers in wilmington, delaware. she is hitting the trail in earnest today and is scheduled to speak in milwaukee in a bit. joining us is the host of the big take podcast. we have a headline crossing in the last few minutes that josh shapiro, mark kelly leading for potential vp picks for kamala harris. who are people talking about as potentials? >> this is a governor have a list. you mentioned josh shapiro, roy cooper, andy beshear of kentucky, gretchen witmer took yourself out of the running it yesterday and spoke to a local affiliate and said she is not interested in leaving her home state to become the vice president. we know eric holder, the former administration is moving up front. remember, donald trump did not pick is running mate into

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty.ew he was my soulmate. "soulmates." soulmate! [giggles] why do you need me? [laughs sarcastically] but then we switched to t-mobile 5g home internet. and now his attention is spent elsewhere. but i'm thinking of her the whole time. that's so much worse. why is that thing in bed with you? this is where it gets the best signal from the cell tower! i've tried everywhere else in the house! there's always a new excuse. well if we got xfinity you wouldn't have to mess around with the connection. therapy's tough, huh? -mmm. it's like a lot about me. [laughs] a home router should never be a home wrecker. oo this is a good book title. >> from the world of politics to the world of business, this is "balance of power." live from washington, d.c. >> well, that was fast. welcome to "balance of power," on bloomberg tv and radio, i'm kailey leinz so low in washington on this tuesday, where we are 48 hours out from president biden dropping out of his reelection race in the vice president kamala harris

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty. aloha to olukai go waterproof leather. breathable fabrics. hey, nice putt. spikeless traction. the most comfortable golf shoe in the game. grab your pair today at olukai.com. scarlet: the increase in interest rates over the past year has created more opportunity in private markets, this according to oaktree capital markets to chairman howard marks. here is what he told bloomberg television earlier. >> right now and going into the future, leveraged companies will not be able to renew their leverage as easily, and the cost of doing so will be higher. so that gives us better opportunities than we've been seeing. scarlet: he was on bloomberg open interest, our new show. sonali basak is one of the hosts of the show and she joins us now. >> so interesting because you have a show focusing on stocks also at a time when the bond market is very interesting. howard marks speaking to, looking at at the implied rate is for this year. two cuts only brings you down to about 4.82 as he implied a rate

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right.tay salty. caroline: shares of power amount popping today once again speculation is rife. have we got a deal between the company and the independent film and tv producer sky dance media. they've been revived looking to buy out sherry redstone. her controlling stake and the deal reports continue to drive shares higher and indeed analysts trying to understand if this is in anyway way longer-term good fundamentals for paramount. national amusements, sky dance re-engaging in those talks. the senior analyst has been following this saga that will eventually be a movie for the last seven months. we get hints from the wall street journal of a price point of one point seven $5 billion for the national amusements stake. is that enough and what does that mean for nonvoting shareholders? >> the rumors of the nonvoting shareholders of the -- would get half of the shares taken out of $15 a share which is quite a bit higher than today's move which means wall street is skeptical this deal will go thro

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty.hanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh scarlet: it is time for the stock of the hour which is actually a twofer. we've got igt and everi. shares are jumping after apollo agreed to buy a part of igt and all of everi. a gambling's machine company. joining us now is chris palmeri in los angeles. what is the strategy from apollo in buying the two companies? chris: igt was a pioneer in the slot business in the u.s., they own that ubiquitous "wheel of fortune" game and casinos everywhere. it was really not doing great. it had been bought by this italian lottery company a few years ago and the new industry darling was this australian company called aristocrat, it was really making all the exciting machines. they came up with this idea to separat

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty.ali: mark zuckerberg stopped short of endorsing donald trump for president after the republican nominee gained support from the likes of ken griffin and elon musk over the weekend. ken griffin yet to donate. but zuckerberg spoke with bloomberg's emily chang about the election for her show, "the circuit." take a look. mark: i've done some stuff personally in the past. i'm not planning on doing that cities time and that includes not endorsing either of the candidates. look, there's obviously a lot of crazy stuff going on over the weekend and, i mean, on a personal note, been seeing donald trump get up after getting shot in the face and pump his fists in the air with the american flag is one of the most badass things i've ever seen in my life. but, look, i mean, as on some level as an american, it's hard not to get emotional about that spirit and that fight. and i think that's why a lot of people like the guy. sonali: and you could watch the exclusive interview with mark zuckerberg on the

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty.uring has testimony, powell said regulators are close to agreeing to change their plan to force big banks to hold significantly more capital. it is a move that can mark a major win for wall street banks because we know those rules are in the process of being revised. we are joined by bloomberg banking regulation reporter tonga johnson pit when you heard the dispute happening amid lawmakers in the senate banking committee, what did you hear about the debate itself? how much more can these new rules face more contest? >> it was interesting to hear powell describe yes, there will be changes and they are close to bringing those changes to a reaper proposal. what he did not mention was what the substance of the changes would be or how the big banks would benefit. we have done much reporting on where the discussions are including a story last month. but really it won't matter how substantive the changes are and whether the occ and fdic, the other agencies that have to vote on the plan, wheth

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty.n you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh sonali: i'm sonali basak and this is "bloomberg real yield." time for the option block where we kick things off in europe. widespread outages is keeping issuers on the sidelines this friday, capping weekly issuance in europe at about 18 billion euros. fur of the four of the six major bank marking the busiest weeks in two months. a different story in high yields. four different borrowers raising $3 billion as the summer lull takes hold. and tony rodriquez weighing in on where he sees credit spreads going from here. >> credit spreads are going to wind a bit. you have volatility from the election and economy slowing down. we've been in a golden age of credit in terminate terms of default. we don't see a recession like environment for credit. defaults will rise. that means you should see some widening in credit spreads because we may be overpriced here. son

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right.ales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh caroline: universal music group shares fell 30%, marking the biggest decline since ipo in '21. there are barriers with social media platforms. the nba announced a long time tv contract with disney and amazon. warner bros. was unable to match amazon. this will begin fall of next year. this was a tussle. >> warner bros. discovery waited until the last minute. they had the opportunity to be a partner. they couldn't match a price so they waited for whoever and evidently they tried amazon. the nba said no quickly. caroline: for what reason? obviously money but they must be thinking there is a viewership addition here? randall: three reasons. tnt wanted to stream all the games on cable and service. amazon is full-fledged streaming. second th

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty. am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh super excited to open up my diploma from southern new hampshire university. (♪♪) i'm nervous. i'm excited. (♪♪) okay, let's see it, let's see it. oh my gosh. jesus g suarrz, i did it, and it's here yeah! (♪♪) next term starts soon. visit snhu.edu. francine: the market value of novo nordisk is bigger than the danish economy, and its philanthropic foundation is now the world's largest, with more than double the assets of the gates foundation. i asked lars fruergaard jorgensen how he handles the company's success and his approach to corporate culture. so, are you enjoying success, or with it, does it also bring a lot of responsibility?

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty. investors balancing election risk with underwhelming earnings. david westin asked david hunt why investors should watch out for political risk. david: i wouldn't say it has heightened relative to the long-term sweep of history. we've had moderation since the gfc. the pandemic and two wars, we have started to see these reemerge. it's more getting back to normal then it is heightening of the averages. this summer of democracy which we are still working through his heightening that. we've had more geopolitical risk. as i travel talking to institutional investors, their number one risk is geopolitical. they want to talk about it and what it does for their portfolios. david w.: the intersection between economic growth and the path forward. you are a long-term investor. how do politics affect long-term growth of europe? japan? u.s.? david h.: long-term investors have a different attitude toward volatility. that's the difference. popular media confuses volatility and risk. when i say heighte

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty.surpassed the record. $1.25 billion for tokyo's games. a source told bloomberg ratings have translated into greater demand for the unsold inventory nbc brought into the games. primetime viewership has averaged 33.8 million viewers, up 77% from tokyo. the paris olympics is not all about sports. it is also about business. the chinese tech giant alibaba and alibaba.com is announcing a partnership with international olympic committee for an initiative aiming to help athletes start their own business, become entrepreneurs. it is called same player, new game. let's bring in kuo zhang, president of alibaba.com, who is in paris. why make this arrangement with the ioc? kuo: alibaba group is partnered with ioc as a global partner since 2017, seven years ago. we are working with ioc for the new athletes program. we meet with many of the athletes. we can feel the success for entrepreneurs and athletes share the same characteristics. common qualities. passion to resilience. self-discipline. push th

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty.ere you worried the wedding would be too much? nahhhh... (inner monologue) another destination wedding?? we just got back from her sister's in napa. who gets married in napa? my daughter. who gets married someplace more expensive? my other daughter. cancun! jamaica!! why can't they use my backyard!! with empower, we get all of our financial questions answered. so we don't have to worry. can we get out of here? i thought you'd never ask. join 18 million americans and take control of your financial future with a real time dashboard and real life conversations. empower. what's next. ed: global wafers wins $400 million from the u.s. it plans to invest $4 billion into their initiative creating 2500 jobs. revolut in talks with tiger. >> confidence, every time an investor comes aboard, it's interesting, especially when there is also a price. this is a good moment of truth for all of us. ed: tiger would be leading a secondary offering. shares of get lab -- gitlab rising today. they are working

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty.et: this is "bloomberg markets." i am scarlet fu. a key part of the fed's mandate is to maximize employment and keep inflation stable. . i want to welcome alex chang. she is the cofounder of a platform that helps workers find jobs in the hospitality industry. i think of it as a linkin for the -- a linkedin for the hospitality industry. alice: thank you for having me. scarlet: they are paying higher wages, costs have gone up her food and overhead has gotten up. what are you seeing on your end when it comes to hiring in the industry? alice: it is also interesting, it depends on the city and the microenvironment. in general we are seeing the cycles come back, ramping up for fall hiring is looking strong. in the past couple years it has been focused on survival and recovery across the board. we are seeing more focus on growth for restaurants. yes, adjustments with potential closures, etc., a lot of the other side, as well, with new concepts opening a new jobs being created. scarlet: it is

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty.ne stock we are watching is travel and leisure. shares are falling after the company issued a week forecast. joining us is abigail doolittle. abigail: down about 8%, the worst day since june of 22. it's not all bad in terms of the quarter that was reported, earnings be by 9% and sales there was a modest miss but you can see in the perspective of the recent quarters that sales of nearly $1 billion was basically a sequential gain from the first quarter and in the zip code of the last several quarters. what is weighing is that guide you were just talking about in terms of the third quarter guide. a little bit weaker than with the street was expecting. there's one other factor going on if we compare the shares of travel and leisure to the s&p 500 and the overall travel index we will see ahead of today and just recently big outperformance into today this stock had been up 26% on the year outperforming the s&p 500 and outperforming the travel sector which has been down or flat. maybe too far

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty.you're looking at a live shot of the principle room check out our podcast. you can find it on the terminal, as well as apple, spotify and i-heart. this is bloomberg. ♪ >> i think that a.i. is a great -- is going to generate a great set of creator tools after great way for creators to tell better stories. and one thing if you looked back over 100 years of entertainment, you can see how great technology and great entertainment work hand-in-hand to build great big businesses. caroline: his take on how it's changing up the streaming industry. lots to discuss there. let's bring in lizzie francis, partner of m13. i'm pretty sure you've been focused more on how content is being disrupted. how does your portfolio come companies reflect that? what do you think a.i.'s going to make the biggest difference? lizzie: we see this paradigm shift is happening today and it's happening quickly and with great speed. so what we're seeing is it's focused mostly on productivity and how we can actually see pr

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty.oment i met him i knew he was my soulmate. "soulmates." soulmate! [giggles] why do you need me? [laughs sarcastically] but then we switched to t-mobile 5g home internet. and now his attention is spent elsewhere. but i'm thinking of her the whole time. that's so much worse. why is that thing in bed with you? this is where it gets the best signal from the cell tower! i've tried everywhere else in the house! there's always a new excuse. well if we got xfinity you wouldn't have to mess around with the connection. therapy's tough, huh? -mmm. it's like a lot about me. [laughs] a home router should never be a home wrecker. food isn't oo thijust fuel to live.itle. it's fuel to grow. my family relied on public assistance to help provide meals for us. these meals fueled my involvement in theater and the arts as a child, which fostered my love for acting. the feeding america network of food banks helps millions of people put food on the table. when people are fed, futures are nourished. join the

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty.g to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. caroline: welcome back to "bloomberg technology." ed: what are you seeing in the markets right now? caroline: volatility. to be expected. we are up, record highs once again. we tried to flip into the red but the nasdaq is back on top once again. i'm looking at cac 40, more affected by politics at this moment. clearly, worries about what france is able to achieve and we will dig into that in a moment. it is affecting stocks a bit. bitcoin off by 1.5%. this is more on the supply side issue. let's move on to look at individual companies. chip stocks, benchmarks rising higher. nvidia doing very well. also intel is doing incredibly well. some of these companies many feel have been left out of the ai trade start to play in and get ahead of any short squeeze. super micro computer is on

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty.s largest gutter and gutter protection company. leaffilter has over 150 locations and has been installed on over a million homes. we've been protecting homes now for over 20 years. our patented technology offers total protection for your home and comes with a lifetime transferable warranty. the process is simple. give us a call to schedule your free gutter inspection. if you decide to move forward with the project, you put nothing down at all. 833 leaffilter or visit leaffilter.com today. say aloha to olukai golf. waterproof leather. breathable fabrics. spikeless traction. the most comfortable golf shoe in the game. grab your pair today at olukai.com. ed: you are looking at a live shot of the principal room. check out our podcast you can find it on the terminal, apple, spotify and also on i heart. this is bloomberg. caroline: talking venture now and iconic capital known for managing the fortunes of silicon valley's elite says it's raised 5.7 $5 billion for a new venture focused fund. a

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty.d help witha sleep nuher snoring.ed? sleep number does that. thank you. shop our lowest prices of the season with free home delivery when you add a base. sleep number smart beds starting at $999. learn more at sleepnumber.com katie: david: ethan: this been -- we've did $104 billion of m&a in the first half of the year. we have normalized the m&a market but why aren't we seeing more growth taking privates, there was an expression i heard a lot which is we can do this is a public company, we need to be private. we can do all the cost cuts or big investments in r&d, capex and marketing while we are public. because that meant we are having everything geared towards the next quarter and these kind of restructurings, big activities would mess up towards the next quarter. slowing up 1215 years ago a lot of activists started saying i'm investing in public companies i want you to act as if you are a private equity portfolio company. it was a very appealing and now more and more companies rather

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty.ow am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. caroline: this is bloomberg technology and you are looking at a live shot of the principal room. check out our podcast and you can find it on the terminal, spotify, and i hard. this is bloomberg -- iheart. this is bloomberg. ed: for today's vc startup -- spotlight let us talk about startup culture. we have the founding partner at the -- partner at the sky deck fund, uc berkeley's largest and most prominent accelerator. we are familiar in san francisco or san francisco. and, we are familiar with stanford grads going into tech. let us start with what we are less familiar with what berkeley is doing, but it is massive the volume of startups you are founding and supporting. chon: i am extremely excited to hear and share more about what we are doing. matt berkeley let we

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty.he biggest names in streaming on the network made for streaming? x marks the spot. now you can add the new xfinity streamsaver™ that includes netflix, peacock, and apple tv+. that's xfinity streamsaver™ for just $15 a month. all your favorites. all in one place. only from xfinity. for more watching and less spending... x marks the spot. do it all on the network made for streaming, and bring on the good stuff. caroline: i want to turn our attention to what president biden has been saying another platform x. he has posted that six weeks ago i laid out a comprehensive framework for how to achieve a cease and bring hostages home. he is talking about israel-hamas. there is still work to do, but that framework is now agreed by both israel and hamas. he says he is making progress. interesting news on the social media platform. ed: there has been a big development about european commission and x. they said acts -- x is the first breach or of the digital services act. kurt, you will have seen t

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty.d isn't just fuel to live. it's fuel to grow. my family relied on public assistance to help provide meals for us. these meals fueled my involvement in theater and the arts as a child, which fostered my love for acting. the feeding america network of food banks helps millions of people put food on the table. when people are fed, futures are nourished. join the movement to end hunger and together we can open endless possibilities for people to thrive. visit feedingamerica.org/actnow scarlet: welcome to bloomberg markets. i'm scarlet fu. let's get a quick check on the markets. the s&p 500 and nasdaq are following the most since april. declines of 1.9% for the nasdaq 100. down .8% for the s&p 500. this after a fairly cool inflation report. this was an instance on buy on the rumors, sell on the news. you are also looking at yields going down for both the two-year and 10-year. a couple of auction this week which have seen favorable demand but the big story here is slowing inflation does give

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right. stay salty.ke down 9% right now after reports that delta hired a prominent attorney following that technology outage that led the kerry to cancel thousands of lights. the airline may seek compensation from both crowdstrike and microsoft. another catalyst, evercore added the company to its tactical underperform list, cutting their price target from 325 to 320. let's bring in shlomo kramer, cato networks ceo. my goodness, the last 10 days, somebody of your expertise and experience, it must have been interesting. what happened? shlomo a mistake had been to mistakes will happen, but what is really important, that mistake caused tremendous disruption. i think what is really important is one is the learning from that mistake? ed: what is the learning? shlomo: we live in a very vulnerable world where everything is digital. imagine if this was not a mistake but an attack. ed: i wrote about this in my column. in the crowdstrike example, microsoft and crowdstrike talked about how only 1% of windows pcs wer

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right.and office has been decimated and continues to suffer. take that with a rate environment that is higher for longer than most people thought it would be. we have not yet meant to regular office buildings in the u.s.. do you think they have hit bottom? it's hard to say we have. it is hard to have conviction to go do that. sonali: this is bloomberg markets. i'm sonali basak. that was bgo's sonny kalsi. abigail doolittle is with sean hehir to discuss stress surrounding commercial real estate. abigail: sean, it's great to have you back. it has been about a year since we last spoke and you know sonny , larger than life. he was very honest yesterday about the good and bad. starting with the good. when we spoke last year your assets under management were about $5 billion in luxury hotels around the u.s. and hawaii. you have added a property in europe, $6 billion. in this environment you are increasing assets. the difficulty we are hearing about in office. are there ripple effects in terms of a

this is bloomberg. ♪ lmnt. more electrolytes. zero sugar.ng on the network made for streaming? x marks the spot. now you can add the new xfinity streamsaver™ that includes netflix, peacock, and apple tv+. that's xfinity streamsaver™ for just $15 a month. all your favorites. all in one place. only from xfinity. for more watching and less spending... x marks the spot. do it all on the network made for streaming, and bring on the good stuff. gotcha. take that. whoa! bruh! i'm fine. that smack looked bad. not compared to the smack down i'm giving you. you sure you're, ok? you know you're down 200 points, right? lucky, she convinced me to get help. i had a concussion that could've been game over. in actual reality, you've only got one life. don't mess with your melon. if you hit it, get it checked. >> the following is a paid program, the opinions and views expressed do not reflect those of bloomberg lp, its affiliates or its employees.

lmnt. more electrolytes. zero sugar. you feel the difference when you get it right.art today with the simple acknowledgment that public service is a privilege. from now on, you have a government unburdened by doctrine, guided only by the determination to serve your interests, to defy, quietly, those who have written our country off. you have given us a clear mandate, and we will use it to deliver change. paul: that was the u.k. prime minister keir starmer, day one after that landslide victory over the last 28 hours. an amazing move in the u.k.. we are awaiting another election in france. a very busy election in the u.k. and france vote in terms of changes in governments. that is a lot to keep an eye on. we have the pound to its longest winning streak in four years. definitely some movement in the markets. dan hansen joins us in london. what is your view of what we just experienced over the past 24 hours in the u.k., politically? dan: to be honest, my take is it has been a very predictable election. this is a result that was widely expected. it's quite a big change fr