Charlie Pellet, David Lammy, Bloomberg discussed on Bloomberg Daybreak Europe


That was Tom tuned out speaking there. Now the foreign secretary Liz truss, the defense secretary Ben Wallace, trade minister penny morden, are also some of the other names in terms of possible successes, despite stepping down, Johnson says though that he actually intends to remain in office until his successor is elected, prompting a backlash over his attempt to quote cling on until the autumn, labor's shadow foreign secretary David lammy wants him to go now. We have a prime minister that's lost all of his contemporaries integrity, quite different to the situation that David Cameron and Theresa May found themselves in where there was a fundamental difference of policy. Labor showered shadow foreign secretary David lammy speaking, now the process that appointed new conservative leader begins now with a timetable being set out next week. Meanwhile, fed governor Christopher Waller says he supports raising interest rates by 75 basis points this month and probably 50 basis points in September. He says fears of a recession due to higher boring costs are overblown, stressing the urgent need to tame inflation. Wallet is a voting member of the FOMC this year. Now, U.S. jobs also in focus today, of course, because non farm payrolls for June are due out later, employers are forecast to have added the fewest number of workers in over a year in June, but economists say that the slowdown is not concerning for the U.S. yet, Bloomberg's Michael McKee has the preview. The consensus view is fed officials will be pleased by the June jobs report, hiring slowing but still strong, unemployment essentially unchanged and wage pressures easy. An on forecast result would likely leave Wall Street investors reasonably satisfied as well. The question is what happens if we get an extremely strong or extremely weak report? Does that show inflationary pressures remain very high or does it mean the economy may be going into recession? The central bankers have suggested a strong report won't change their plans for what will likely be another three quarter percentage point increase at the end of the month, but expect volatility if weak numbers lead investors to increase bets on recession. Michael McKeon Bloomberg daybreak Europe. Now Europe is set to receive the lion's share of record setting exports from the U.S. strategic reserve crewed that were shipped out last month. The story from Bloomberg's Charlie pellet. It's a bid to plug supply gaps left behind by Russia's invasion of Ukraine. According to Matt Smith an oil analyst at the commodity data firm Kepler of the 5.35 million barrels of oil from the strategic reserve that was exported in June, nearly two thirds will be landing in Europe. He says that volume bound for Europe is the largest month on record with the rest heading for India and China adding that all were high sulfur crudes. In New York, Charlie pellet, Bloomberg, daybreak, Europe. And now in top corporate news, Twitter shares slumped after the bell on a news report that Elon Musk's $44 billion takeover deal is in, quote, serious jeopardy. The Washington Post says that that is because there are concerns that the social media platform can't confirm its total spam users. The billionaires team has reportedly stopped engaging in funding discussions, Twitter says that it intends to close the deal with Musk on the agreed terms. This, of course, just an update on that, Twitter shares falling 4% after that report of the must the potentially collapsing in further trading. Okay, back to UK Pollock's now and Boris Johnson's plans for a slow and orderly retreat look, well, increasingly unlikely, following his resignation yesterday, but MPs on the 1922 committee want a leadership contest as swiftly as possible. Joining us now is Bloomberg's managing editor for European economy and government Ben searle's Ben, how quickly then can they make this happen and force Boris Johnson out of office more quickly than maybe he would have hoped. Yeah, well, so yesterday morning, we were talking to number ten and they would kind of signaling that Boris was aiming to stay in office until the Tory party conference at the start of October, which would give him a kind of three months swan song to take his leave. It doesn't look like that's going to happen. The latest timeline we're getting for 22 is that they would aim to complete the whole leadership process by the end of the summer. So that would mean new British prime minister at the start of September. We'll get more details on that next week. Okay, potential successes then. Well, as you say, Tom Tucker on his hand to the ring, I think sweller braverman, the attorney general, has just followed him this morning. The real frontrunners I would say are probably Rishi sunak former Chancellor who quit triggering the final rebellion against Johnson. Sajid javid, who was alongside him, the former health secretary, Ben Wallace, defense defense secretary, perhaps Nadine is a highway who took over as Chancellor in the dying days of the Johnson administration. Okay. Ben stills are Bloomberg managing editor for European economy and government. Thank you so much. We got a couple of very interesting and totally different views from Alex shelburne conservative AMP and Nigel sorry, that is Nigel mills, of course. Alec came straight out and said that he was supporting Liz trust Nigel mills saying that he would need a little bit more time to think about it. But yes, I think this process is probably going to be very swift to try to get the next conservative. And we spoke to John cordwell, a major donor, of course, to the Conservative Party of billionaire investor, entrepreneur, who said that for him, he hasn't chosen a name yet, but zahawi, he likes the sound of sahabi and Santa javid. He says there is a need for a prime minister with a business background to turn the UK economy around. Okay. Let's move away then from the UK and turn our attention to Japan where a very serious shooting has taken place. Let's bring in Bloomberg's Lisa do for the latest on this story. The former prime minister. In fact, Japan's longest serving prime minister was shot during a political event and it looks as if he's in a very serious condition Lisa. Can you please give us the latest? Yes, like you said, former Japanese prime minister Shinzo Abe was shot today at a speech for an election campaign, the town of Nara, which is very close to Kyoto. The latest we have about Abe's condition is that he suffered a gunshot wound to his right neck and had internal bleeding on the left side of his chest. He had reportedly fell unconscious while he was being transported to the hospital and he does appear to be in very serious condition. Most recently, his brother who's actually Japan's defense minister said at a press conference that he was undergoing a blood transfusion and that's the latest that we had on his condition and we are keeping an eye on that. Lisa, what do we know about the suspect who's been arrested? Yes, a suspect was apprehended at the sea. It was a man whose 40s who used to serve in the Japan self defense forces and under police questioning he said that he intended to kill Abe today because he was dissatisfied with him, though he noted that it wasn't related to his political beliefs. And that's all the details we have on the motive. They also said that he appeared to be using a homemade device again gun laws in Japan extremely restrictive. It's nearly impossible to get one and gun violence is also very rare, which makes this whole event even more shocking. Yeah, and the response in Japan and worldwide to this, as you say, a shocked response so far. Yes, definitely, I think like you said abbe was the longest serving prime minister 2012 to 2020, he certainly made his mark

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