Zelenskyy-Trump War Of Words, President Uses Antisemitic Slur

0:02 Bloomberg Audio Studios, podcasts, radio, news. Good morning, I'm Nathan Hager.

0:11 And I'm Karen Moscow. Here are the stories we're following today.

0:15 Karen, we begin with the latest on the war in Ukraine. President Volodymyr Zelensky is headed to Norway for new peace talks as pressure mounts from the U.S. for Kiev to make concessions to reach a deal with Russia. Sources say White House envoy Steve Witkoff is expected in Oslo. Zelensky is again accusing the U.S. of failing to provide early warnings of Russian missile and drone attacks. President Trump says Zelensky doesn't know what he's talking about.

0:42 Zelensky is a man that should have had this war settled a long time ago. If he would have listened to me, he would have made a much better deal a long time ago and have a million people living from his side. And to be honest, I don't think I think it's time for somebody else to negotiate on behalf of Ukraine.

0:59 Speaking to reporters at the White House, President Trump added, quote, we've given a lot to Ukraine.

1:04 They've given us nothing, end quote. Well, Nathan German, Chancellor Frederick Mertz, is warning against complacency over the dangers posed by Russia. He says President Vladimir Putin is seeking to not only defeat Ukraine, but to also undermine democracy in Europe. Mertz spoke exclusively earlier with Bloomberg.

1:22 The big picture is that Russia is on the way to destabilize the entire political order of our European continent and this is obviously underestimated by many people in my country as well.

1:39 German Chancellor Friedrich Merz made the comments in an interview with Bloomberg's Francine Lacroix, and you can catch the full conversation on Bloomberg.com and the Bloomberg Business app.

1:49 Now to the race to the midterms, Karen. We are just 14 days away now from an election that will determine control of Congress. President Trump continued his campaign blitz through mostly red states. With a rally in Kansas last night for Republican Senator Roger Marshall, he's in a competitive race against Democratic megachurch pastor Andy Hamilton. And the president had some choice words as he came to Marshall's defense over the former obstetrician's billing methods.

2:13 He was mandated by law to request strongly money owed from patients. You're not allowed not to do it. You have to, by law, go after those people. And they made it like, oh, he was some kind of a Shylock type guy.

2:26 President Trump used a term long considered anti-Semitic, referring to the greedy Jewish moneylender from a Shakespeare play. Last month, the New York Times reported Senator Marshall's former practice sued more than 700 patients with outstanding bills, and in 81 cases, people were arrested for missing court dates. President Trump also labeled Marshall's opponent, Hamilton, as a pervert over his church's handling of a decades-old child sex abuse case. Hamilton has not been accused of misconduct.

2:53 Nathan, President Trump's rally speech was light on policy, but he did use the appearance to tout a new round of fuel assistance for farmers as they deal with rising diesel prices from the Iran war.

3:03 Tonight, I'm also pleased to announce that the Department of Agriculture. We'll be launching a new harvest fuel relief program providing our farmers with $ 8 billion in support to offset diesel costs during this harvest season.

3:22 The U.S. Department of Agriculture says the harvest fuel relief program will bring certainty to farmers as they harvest their crops. Specific payment rates for each crop will be released next month.

3:33 And Karen, President Trump also hinted he might back away from threats to boycott Canada's Bombardier because the jet maker has a workforce in Kansas.

3:41 Because of Roger and his phone call to me, I'm going to be helping a certain air company get themselves straightened away. Is that right, Roger? I'll be helping them.

3:50 President Trump did not mention Bombardier by name, but its U.S. headquarters are in Wichita, Kansas. And last week, the planemaker announced plans to invest $ 50 million in a new job training center there.

4:00 Well, along with the rally in Kansas, Nathan, there was a debate in Kentucky last night in the race for retiring Senator Mitch McConnell's seat. Republican Andy Barr and Democrat Charles Booker squared off in their one and only debate sponsored by Gray Media. Barr labeled his opponent the Mamdani of Kentucky as he argued for boosting energy production to lower costs.

4:21 More investment in energy infrastructure, refineries, pipelines, and power plants. My opponent supports the radical Green New Deal, which would dismantle fossil energy and skyrocket prices.

4:34 But Charles Booker argued for bringing costs down by ending the war with Iran.

4:38 We're seeing devastation in Iran, billions upon billions of dollars going overseas to fund a conflict that has no end in sight. And my opponent, Andy Barr, has been a rubber stamp for signing a blank check to continue this madness.

4:50 And Charles Booker and Andy Barr also sparred over health care, immigration, and data centers. The Cook Political Report rates the Kentucky Senate race as solid Republican 14 days until the election.

5:02 In Massachusetts, Karen, the Republican nominee for lieutenant governor has suspended his campaign. after he allegedly hit several parked cars and flipped his own vehicle while driving under the influence on Saturday. New Bedford City Councilor Sean Oliver has been charged with operating under the influence of liquor, negligent operation of a motor vehicle, a marked lanes violation, and speeding.

5:23 Oliver appeared in court and pleaded not guilty. His Republican gubernatorial running mate, Mike Minogue, spoke to reporters about the path ahead.

5:33 I am glad he's safe, but at this point, I called for him to suspend and terminate his campaign, and he will not be my lieutenant governor. Maine and New Hampshire don't have one, and I'm going to move forward without him.

5:47 That's Massachusetts Republican nominee for governor, Mike Minogue, with two weeks till the election. It is too late to remove Sean Oliver's name from the ballot. If the pair are elected, Minogue will have to formally ask for Oliver to resign.

6:00 Well, Nathan, as the U.S. midterm elections approach, check out Bloomberg's Washington Edition, the newsletter about money, power, and politics in the nation's capital. Our reporters provide reporting and insights through the lens of business, markets, government, and the economy. Sign up now for free at Bloomberg.com slash newsletters.

6:18 Now let's turn to the latest on what's been happening in France, Karen. Protests there have largely died down after authorities rolled out tougher security measures following a weekend of violence. Let's go to Paris to get the latest with Bloomberg Chief Europe Correspondent Oliver Crook.

6:33 Measures that were rolled.

6:34 Out by the Prime Minister after those emergency meetings that were held with the cabinet. They involved a number of different curfews, including within parts of Paris. And sort of as we were finishing our coverage yesterday, you could see there were sort of groups of young people kind of dressed in black amassing, potentially getting ready for some kind of protest. But the police were there In such force, there were dozens of police vans.

6:55 They were all sort of wearing their riot gear.

6:56 There was no sort of active protest or any exchange between people.

7:00 But it was very clear.

7:01 That the French state was not going to take any chances after what we saw on Saturday. So you had curfews in that part of Paris and another part of Paris, a couple other cities across France, in Bordeaux and in Nice. And you also had a ban on protests in Marseille, which was one of the other cities that was hit very hard by those protests.

7:18 Bloomberg's Oliver Crosby. New York reports French Prime Minister Sébastien Le Cornu is saying he'll put new curfews in place as needed. He says the latest measures helped contribute to the overnight calm.

7:28 In Canada, Nathan, voters in the province of Alberta have rejected a proposal to begin a process toward independence. With more than one million votes counted, about 76 percent supported remaining in Canada, compared with 23 percent who backed beginning a process that could lead to separation. The project delivers a victory for Prime Minister Mark Carney and supporters of Canadian unity.

7:50 It's head down under, Karen. Australia's government is set to sue Facebook, TikTok and other major digital platforms. Let's get the very latest on this from Bloomberg's John Tucker.

8:01 John.

8:02 And, Nate, this has to do with the first in the world social media ban for children. Australia started it almost a year ago to protect kids and now says the digital companies are violating it. Communications Minister Annika Wells.

8:16 We do seek to enforce our Australian laws. They say that they wish to uphold them. The safety commissioner isn't convinced. There are five investigations on foot.

8:26 Australia now set to sue the companies. An e-safety report in July found most underage social media users were able to keep their accounts or create new ones. The government has doubled the maximum penalty for breaches to $ 76 million. Welles says we won't flinch at holding tech companies to account.

8:44 I'm John Tucker, Bloomberg Radio.

8:49 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 Monica Ricks. Monica, good morning. Hey, good morning, Karen.

8:57 The Department of Interior has submitted its final plans for President Trump's proposed triumphal arch, including updated traffic and lighting plans and a statue with a lit torch resembling the Statue of Liberty on top, which officials say will be visible from all angles, even at night. A meeting scheduled for November 5th, where those plans will be reviewed for final approval. Georgia Secretary of State Brad Raffensperger has rebutted false claims by President Trump that sought to cast doubt on the integrity of vote counting in the state.

9:27 Bloomberg's Amy Morris has more on that from Washington.

9:30 Raffensperger told Balance of Power that he expects the state's election results by midnight on Election Day, calling the process free, fair and fast.

9:39 We'll have quick results, short lines on Election Day. And people can trust the results here in Georgia. And that's our job. It's not to pick Republican winners or Democratic winners. It's to make sure that the winner wins. And in Georgia, they do.

9:53 Trump repeated claims that the 2020 election had been rigged against him and that Senator John Ossoff of Georgia had never been legitimate.

10:00 Elected.

10:01 Raffensperger and others have disputed that. In Washington, Amy Morris, Bloomberg Radio.

10:05 Federal authorities also charged 28 foreign nationals in California who authorities say illegally registered and voted in U.S.

10:12 Elections.

10:13 But California says all are either residents or green card holders. And a Japanese spacecraft is officially on its way towards Mars. It's set to explore Mars moons and bring back samples, hopefully by 2031. Global News 24 hours a day and whenever you want it with Bloomberg News Now. I'm Monica Ricks and this is Bloomberg.

10:37 Karen, Nathan. Thanks, Monica. Time now for our Bloomberg Sports Update. And for that, we bring in John Staschauer. Thanks, Karen.

10:45 For only the second time in the last 100 years, the World Series matchup will be between two teams who've never won the World Series. It'll be Tampa Bay and Milwaukee. Starting on Friday, the Rays won game six over Cleveland. 7-3, it's their third AL pennant. Monday Night Football, the 49ers had a 20-point lead and had to hold on at the end. They stay undefeated by beating Washington 23-17. The season is over for Eagles quarterback Jalen Hurd's blood clots in his lungs. That's your Bloomberg Sports Update.

11:15 Stay with us. More from Bloomberg Daybreak coming up after this.

11:23 Coast to coast on Bloomberg Radio. Nationwide on Sirius XM.

11:28 And around the world on Bloomberg.com and the Bloomberg Business App.

11:32 This is Bloomberg Daybreak.

11:34 Good morning.

11:34 I'm Nathan Hager. With tensions on the rise with the U.S., Ukrainian President Volodymyr Zelensky is headed to Norway for another round of talks on ending the war with Russia. But this comes as President Trump has been accusing the Ukrainian leader of wanting to prolong the conflict.

11:50 Zelensky is not helping matters much. I think he doesn't want to stop it, but I want to see people not die.

11:57 That was President Trump speaking to reporters yesterday at the White House. Joining us this morning from London is Bloomberg opinion columnist Mark Champion, who has been following this war from the outset. Mark, it's good to speak with you this morning. When we see this kind of pressure that President Trump has been putting on the Ukrainian leader in recent days, where does that set the bar for these talks in Oslo that we're expecting today?

12:18 Good morning.

12:19 Good morning.

12:20 Yes, it's I mean, the whole situation, quite frankly, is is fairly confusing. So you have, you know, some pretty high level talks, you know, in Norway. And the question is, you know, are these really going to be peace talks in which they are talking about, you know, a deal that the Russians might accept that might be taken to the Russians? to try and move us past the kind of impasse that has been blocking peace for a long time?

12:53 Or are we really talking about trying to get the Ukrainians to stop firing on Russian refineries until the election on November 7 in the United States, the midterms? This is what triggered the current showdown, really, It's a sort of breakup between Zelensky and Trump. You know, it's not the first one, but this appears to have triggered it.

13:22 And then after this, you know, you have Steve Witkoff and Jared Kushner won't be there because he's ill. But, you know, we'll go to Moscow. And after that, you will have a summit in Asia. at which there is now talk of the three leaders, Putin, Trump, and President Xi of China, meeting to discuss. It's not quite clear.

13:50 Trump talked about nuclear issues, but otherwise, U.S. officials have also been talking about Ukraine. Ukraine wouldn't be there. So, you know, overall, at this very moment, it's quite unclear exactly where we're going with this.

14:04 Well, when you hear the president, as you say, talking about using this potential summit with Russia and China to talk about the nuclear issue as opposed to the war itself, does that sort of add to this confusion that you say is sort of swirling around all this?

14:21 I think it does.

14:22 I mean, so we.

14:24 When you think about it, you know, Trump has, you know, from the start tried to say he wants to get peace. He wants to get a deal. He's been willing to put pressure on the Ukrainians, unwilling to put pressure on the Russians.

14:37 And this has not changed.

14:39 What has changed recently is that it became very clear how much pressure he was willing to put on the Ukrainians and how little on President Putin. And whether that can actually do anything to stop the war is uncertain because. Zelensky and the Ukrainians, they feel that they cannot stop fighting so long as President Putin says he wants his war aims to be fulfilled. And those war aims include there not being an independent state of Ukraine. So it's not really clear, you know, how we are moving towards a peace settlement at this time. As I say, you know, this may end up being more about these sort of issues close to, you know, Trump's political needs at the moment, which has to do with the price of diesel. and

15:34 showing that it's not his fault and the fault of his Iran war that Americans are having to pay so much at the Trump.

15:43 Which gets to the point that we've heard from President Zelensky, where he said that relations with the U.S. could improve after the midterm elections. In our last 30 seconds here, Mark, does it look like things could be headed that way?

15:58 Well, I really don't know.

16:00 We'll have to see.

16:01 But, you know, it's imaginable to me that Zelensky will even be persuaded by the Europeans that it would be smart to call it on the refineries until November the 7th. And then after that, you know, when the pressure is off politically on Trump, after that, he might be able to go back to, you know, to his strategy.

16:23 Really appreciate you coming on with us, Mark.

16:24 Thanks so much.

16:25 That's Bloomberg Opinion columnist Mark Champion, as we wait for more developments to come out of these talks expected today between Ukraine and the U.S.

16:34 In Oslo.

16:35 Karen. Nathan, let's repeat some of our top stories this morning. President Trump using an anti-Semitic term during a rally in Kansas as he came to the defense of Republican Senator Roger Marshall. Trump said the senator had received a bum rap and was portrayed as, quote, some kind of a Shylock type guy.

16:53 French protests largely died down after authorities rolled out tougher security measures, including targeted curfews. This follows cost-of-living protests over the weekend that degenerated into violence, vandalism, and looting.

17:05 Voters in Alberta have rejected a separation from Canada. It's a victory for Prime Minister Mark Kearney after a long referendum campaign that created divisions in the country's energy heartland.

17:17 And we have more on those stories coming up on Bloomberg Daybreak.

17:20 And now we want to turn to our exclusive conversation with German Chancellor Friedrich Merz. He spoke with our friends in Lagua on Bloomberg's balance of power in a wide-ranging conversation discussing Europe's relationship with the U.S., European security... and building allies abroad. Let's listen in.

17:37 I'm trying to convince Donald Trump each time I'm meeting him that this should be in his own interest, a stable Europe, European continent, European Union as a partner in the world is something which is worthwhile for the Americans as well. So they are not alone in We are willing to cooperate within NATO, within our international framework.

18:05 But the U.S.

18:05 Have to take their own decisions on that. But my conviction is very, very clear. We are trying to stabilize the transatlantic relationship and we are making... the NATO agreement, the NATO in total stronger, with a stronger European pillar. And that is what we have already achieved.

18:27 But do you call President Trump? And what does he reply to you?

18:29 We regularly call. We are regularly meeting each other. We will have the next G20 meeting in Miami by the end of this year. So we have very often the opportunity to speak. And we are trying to— I' m trying to convince him that this is in his own interest.

18:46 Is it working? Because something has changed in the last four days.

18:50 I'm not so sure. We are seeing mixed pictures and messages from the U.S. There are some who are still very engaged in terms of negotiating, talking with each other, talking with Ukraine, talking with Russia. There are others who are having a different view. For some, it's a business case. I'm trying to convince the American government in total that this is something we have to resolve jointly.

19:17 Why do you think that the U.S. administration is doing this now?

19:21 Because the U.S. under this presidency have fundamentally changed their global approach. And making America great again says nothing more than we are working on our own and all the others have to do the same. The European answer is, yes, we understood. We are working on our behalf and we are working in our own interest.

19:45 But if they're not paying for defense of Ukraine?

19:47 Well, look what we did in the past.

19:50 We are really catching up.

19:52 We are spending up to 5% of our GDP for defense. We are doing that within the European Union. We are doing that with our European allies. We are doing that together with Canada, who is as European as this country was never before. So we are having real allies in the world. We are having trade.

20:10 Agreements in the world.

20:11 Mercosur is one of those. India is the next one. So we are looking for allies and partnerships across the world. And we are finding allies who are in the same direction, thinking in the.

20:23 Same direction like we do.

20:26 This is Bloomberg Daybreak, your morning podcast on the stories making news from Wall Street to Washington and beyond.

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21:13 Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak.