ABC Suspends Jimmy Kimmel; Trump's UK Visit Shifts From Pomp to Politics

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2:40But we begin this morning with a major move from Walt Disney. Its ABC network is taking Jimmy Kimmel Live off the air indefinitely. That's after the late night talk show host comments about the killing of Republican activist Charlie Kirk. We get the latest on that now with Bloomberg's John Tucker. John. And in his monologue Monday night, Kimmel accused Republicans of using Charlie Kirk's death to criticize their opponents. We had some new lows over the weekend with the MAGA gang desperately trying to characterize this kid who murdered Charlie Kirk as anything other than one of them. And everything they can to score political points from it.

3:18That drew an immediate backlash. Nextar Media Group, which owns dozens of ABC TV affiliates, said it would pull the show indefinitely from its stations over the remarks that were offensive and insensitive. Nextar has business pending before the FCC. The broadcaster seeking federal approval for a$6.2 billion agreement to acquire another local station owner. It is a treacherous political climate for major media companies. And this is just the latest example of the Trump administration pressuring them to mine their talents on-air remarks. In July, CBS announced it was ending its late-night show hosted by Stephen Colbert, who's been a critic of Trump at the time its parent, Paramount Global, was seeking FCC approval for its takeover by Skydance Media.

4:05Disney gave no indication of when or if Kimmel's show might return. On social media, President Trump praised the move and said NBC should fire its late-night hosts. In New York, I'm John Tucker, Bloomberg Radio. All right, John, thank you. Now we want to get to the latest, President Trump's trip to the UK. His state visit now turns from pomp to tougher diplomatic talks on trade and foreign policy. Let's go to London and get the very latest from Bloomberg Daybreak Europe anchor Caroline Hepker. Good morning, Caroline. Good morning, Karen. the British government will surely be delighted that the showstopper state banquet was such a hit with President Donald Trump.

4:43The King's speech was warm, but true to the man and to British concerns, the monarch pressed the need to safeguard the environment, support Ukraine and to go even further on the recent UK-US trade deal. The president, for his part, lavished praise on the royal family, the shared history of the two countries. Here is a moment from his speech at St George's Hall in Windsor Castle. This is truly one of the highest honours of my life. Such respect for you and such respect for your country. For many decades, His Majesty the King has epitomised the fortitude, nobility and the spirit of the British monarchy and the British people.

5:23The President said the word special doesn't do the relationship between the UK and US justice. Does that mean any concessions on security and trade? for the Prime Minister Keir Starmer at Chequers. Today, the government's guiding expectations low and focused on pulling off a perilous joint press conference. What are we expecting today at Chequers, Caroline? Well, do the differences between the UK government and the US administration stay behind closed doors or emerge? The UK has got a different view on Israel. One support in terms of Ukraine says that the UK's free speech is as robust and not in doubt as ever before.

6:01So will the press conference see pointed questions for President Trump in connection to Jeffrey Epstein? The UK has also still got to appoint a new ambassador to Washington. For the moment, Starmer is pointing to this record£150 billion of investment from big US tech firms into the UK, that it will deliver 7 ,600 jobs here. Protests against Trump in Britain have been fairly muted. Now we await President Trump in his more familiar setting, taking questions in just a matter of hours. Is it fair to say the UK is holding its breath? Is it? Well, we'll be watching, won't we? Bloomberg Daybreak Europeaker Caroline Hepger, thank you.

6:42Of course, we'll be checking in with you throughout the morning. And Karen, while the president is in the UK, he appears to have domestic politics in mind. He posted on Truth Social last night that he plans to designate Antifa a major terrorist organization. The president also says he will strongly recommend thorough investigations of groups that fund the organization. The White House has promised to investigate what it calls left-wing extremism in the wake of Charlie Kirk's shooting death. Antifa is a loose collective of far-left militant groups. Authorities have not linked Kirk's killing directly to any political organization.

7:14Well, on Capitol Hill, Nathan, the House has killed a resolution to censure Congresswoman Ilhan Omar over her comments about the conservative activists. The Democrat from Minnesota told a liberal podcaster that Republicans praising Kirk for civil debate were full of it. Republican Congresswoman Nancy Mace proposed the resolution that would have stripped Omar of her committee assignments. Four Republicans joined Democrats in blocking it. Turning to Wall Street now, Karen. Futures are pointed higher a day after the Federal Reserve slashed interest rates for the first time this year. The quarter point reduction came after a significant slowdown in job growth and an unprecedented push by the White House for much lower rates.

7:55Here's Fed Chair Jay Powell. You can think of this in a way as a risk management cut, because if you look at the SEP, actually the projections for growth this year and next actually ticked up just a little bit. And inflation and unemployment didn't really move once. So what's different now? What's different now is that you see a very different picture of the risks to the labor market. The decision from Jay Powell and company to cut rates a quarter point was nearly unanimous. The loan dissent came from Fed Governor Stephen Myron, who favored a larger reduction. Well, Nathan, as markets hover near record highs, investors will get a key earnings report to digest package delivery company FedEx reports after the closing bill.

8:33And we get a preview with Bloomberg's Tom Busby. Despite some successful cost-cutting, FedEx saw continued weakness in parcel shipping demand. And once again, it's not likely to reinstate a full-year outlook. The main driver for that, the cancellation of the de minimis exemption for lower price shipments out of China, Hong Kong, and other countries into the U.S., which went into effect at the end of last month. Still, Bloomberg consensus calls for revenue of$21.68 billion on adjusted earnings per share of$3.61. Tom Busby, Bloomberg Radio. Okay, Tom, thanks. In other company news, MetaPlatforms wants to turn its smart glasses into a must-have product.

9:08It's coming out now with a new model with a built-in screen. The social media giant is rebranding the product AI glasses with a price tag of$799. Meta CEO Mark Zuckerberg says he's bringing super intelligence to consumer electronics. This is going to be the most important technology in our lifetimes. AI should serve people, not just be something that sits in a data center automating large parts of society. So we design our glasses to be able to empower people with new capabilities as soon as they become possible. Mark Zuckerberg spoke at Meta's annual event to showcase new technology. The company hopes the new glasses will be a stepping stone to full augmented reality glasses.

9:58Time 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 Monica Ricks. Monica, good morning. Hey, good morning, Karen. Democrats say Republicans are not communicating right now with just weeks to go to avert a government shutdown. Senate Minority Leader Chuck Schumer. We have two weeks. They should sit down and talk to us and we maybe can get a good proposal. Let's see. But when they don't talk to us, there's no hope of getting a good proposal. And that makes no sense. Democrats released their version of a budget last night.

10:29Members of the House Judiciary Committee grilled FBI Director Kash Patel for about five hours yesterday about increasing political violence as well as his handling of the Jeffrey Epstein files. Florida Republican Byron Donald called out Democrats. They had full access to the Epstein files under the Biden administration. They could have released all the information then. They chose not to. He says they're just trying to win midterm votes. Investigators have released more details now about the arrest of Tyler Robinson, who's accused of killing Charlie Kirk last week in Utah. Washington County Sheriff Nate Brooksby says Robinson wanted to surrender.

11:07He was fearful of a SWAT team hit on his house or he was fearful of being shot by law enforcement. Robinson's now facing felony murder charges. Israel's military is now pushing ahead with its offensive in Gaza City despite massive protests in Jerusalem. Idit Hohel's son is still being held hostage by Hamas. I'm very worried about the war and the military pressure on Hamas because my son is in there. More than 400 ,000 civilians in Gaza have already been evacuated. And Starbucks workers taking legal action now here at home in three states over the coffee giant's dress code. This took effect back in May, but employees claim that Starbucks refuses to reimburse them for having to buy new clothes.

11:55Global news 24 hours a day and whenever you want it with Bloomberg News Now. I'm Monica Ricks, and this is Bloomberg. Karen, Nathan. Thanks, Monica. Time now for our Bloomberg Sports Update. And for that, we bring in John Stashauer. Thanks, Karen. The latest team to clinch a postseason berth. The Cubs will be at least a wild card in the National League. They'll be their first postseason since 2020. Seattle lost at Kansas City 7-5 to end the Mariners' 10-game winning streak and win Houston, beat Texas 5-2. The Astros moved back into first place by a half game. The NFL game tonight is Miami in Buffalo, where the Dolphins have lost 15 of the last 17.

12:30The 49ers say quarterback Brock Purdy may play Sunday. He missed last week with injuries to his toe and shoulder. That's your Bloomberg Sports Update. Stay with us. More from Bloomberg Daybreak coming up after this. Support for the show comes from Public.com. If you're actively involved in your portfolio, you probably catch yourself repeating the same actions. buying the dip, manually sweeping idle cash, putting on a hedge. On public, you can now create AI agents that handle all these tasks on your behalf. Just describe what you want to do in plain English. Like, if the VIX hits 25, buy a put option on the S &P 500.

13:07Or, if my cash balance goes above$20 ,000, move the excess into my direct index. You approve of the workflow and your agent handles the rest. Monitoring the market, watching for your conditions, and executing your strategies exactly as defined. An investing platform driven by your intent, not just your clicks. You can also get full read and write access to your account via the public API. Go to public.com slash market and fund your account in five minutes or less. That's public.com slash market. Paid for by Public Investing. Brokered services by Open to the Public Investing, Inc., member FINRA and SIPC.

13:45Advisory services by Public Advisors, LLC, SEC Registered Advisor. Complete disclosures available at public.com slash disclosures. If your best finance people are doing expense reports, chasing receipts, or spending time on month-end close, it's time to get Brex AF, a gentic finance that eliminates that work before it starts. Learn more at brex.com slash AF. Amazon Health AI presents Painful Thoughts. Why did I search the internet for answers to my cold sore problem? Now I'm stuck down a rabbit hole filled with images of alarmingly graphic sores in various stages of ooze. I can clear my search history, but I can never unsee that.

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14:42Coast to coast on Bloomberg Radio, nationwide on Sirius XM, and around the world on Bloomberg.com and the Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager. President Donald Trump and King Charles III highlighted the unique bond between the U.S. and the United Kingdom during a lavish dinner at Windsor Castle last night. As the president's second state visit to the U.K. continues, the king is suggesting that bond could be pointed at global challenges. As tyranny once again threatens Europe, we and our allies stand together in support of Ukraine to deter aggression and secure peace.

15:23King Charles speaking at the state dinner for President Trump last night. This morning we are joined back at Windsor Castle by Bloomberg's Lizzie Byrd. and some very interesting comments there from His Majesty Lizzie. What kind of influence is the king trying to have over this state visit as the focus turns from the pomp to the politics today? Good morning. Yeah, you heard the king there emphasizing, Nathan, the need to defend both Ukraine and also the environment. He said, we are kin. He noted that British soil makes for nice golf courses, so turning on the charm. And the president nodding along the whole way, even if these comments hit on the fault lines between the US and the UK right now, even if it's a meal that's really designed to curry favour with the president.

16:10It's notable because the monarch is traditionally restrained, but King Charles, as we know, is different to his mother, the late Queen Elizabeth II. He is more confident in speaking his own mind, stepping into politics. But around the table, it wasn't just the royals and the president and first lady. You also had some of the biggest names of Silicon Valley and Wall Street, the likes of Apple's Tim Cook, notably back in the fold, Citigroup's Jane Frazier. Notably absent, though, was a UK ambassador to Washington. Peter Mandelson, of course, forced to depart over his links to Jeffrey Epstein. That could be an awkward subject for the press conference later today.

16:50And as we get set for that press conference, what are we expecting now with the president set to go from Windsor over to Prime Minister Starmer's country estate at Chequers? Yeah, the focus turning from pageantry to business and politics. In terms of business, Starmer's team is saying that a record 150 billion pounds, that's about 205 billion dollars, I think, of investment into the UK is going to be unveiled across the whole visit. So the lion's share of that coming from Blackstone. It'll create 7 ,600 jobs here at a time when Britain really needs the economic growth. And it isn't just a one way street.

17:28The UK also investing in the US, 22 billion pounds from GSK into US pharma. Also commitments from the likes of BP and SAGE. But when it comes to politics, Starmer looking to press Trump on both trade to improve the trade deal and Ukraine. We're not expecting any major breakthroughs, Nathan, but what he isn't likely to raise is the Middle East. The Times of London reporting overnight that Starmer is going to formally recognize Palestine as a state this weekend. So after Trump's gone, but it'll come ahead of that UN General Assembly meeting in New York next week. And clearly the idea is to try and avoid a diplomatic incident.

18:08But again, it could dominate that press conference later on today. Only 30 seconds left, Lizzie. So are we expecting any concessions when it comes to trade from the president? Well, it looks like Starmer has already given up on many of the things that he would like to have negotiated this time. Steel tariffs, for example, he's accepting at 25 percent for now. It doesn't look like there'll be concessions when it comes to tariffs on Scotch whiskey. So we've yet to see what the president was referring to when he said that there's room to negotiate when he was speaking to reporters before he boarded Air Force One.

18:42This is Bloomberg Daybreak, your morning podcast on the stories making news from Wall Street to Washington and beyond. Look for us on your podcast feed by 6 a.m. Eastern each morning on Apple, Spotify or anywhere else you listen. You can also listen live each morning starting at 5 a.m. Wall Street time on Bloomberg 1130 in New York, Bloomberg 99.1 in Washington, Bloomberg 92.9 in Boston and nationwide on Sirius XM Channel 121. Plus, listen coast to coast on the Bloomberg Business app, now with Apple CarPlay and Android Auto interfaces. And don't forget to subscribe to Bloomberg News Now. It's the latest news whenever you want it, in five minutes or less.

19:23Search Bloomberg News Now on your favorite podcast platform to stay informed all day long. I'm Karen Moscow. And I'm Nathan Hager. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak.

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