Temperatures. More than 8400 wildfires have scorched more than 6000 square miles in california since the start of the year but mostly since august. 31 people have died. The judge investigating a massive blast in beirut in august has received a report from the fbi about its own probe of the explosion. Lebanese media says the judges also waiting for similar reports from french and british explosive experts. Nearly 3000 tons of Ammonium Nitrate exploded at the port my killing nearly 200 people and injuring more than 6000, and causing billions in damage. Global news 24 hours a day, onair, and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. Vonnie it is 1 00 p. M. In new york, 6 00 p. M. In london, and 1 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. Here are the top stories from around the world we are following. Day two of questioning for Supreme Court nominee Amy Coney Barrett today, and the tone is decidedly sharper as Democratic Senators have time. We will speak with Elizabeth Wydra of the Constitutional Accountability Center. Apple kicking up its latest product event. We anticipate the first look at our next generation iphone. In a few moments, Francine Lacqua will be hosting a covid19 ims Panel Including the managing director, the blackrock chairman and ceo, and the former bank of England Governor Mark carney. Lets get a quick check of where we stand markets wise. A bit heavy bifurcated market through the session with the nasdaq still positive. The dow and s p, about a third of 1 each. The british pound dropping just a bit. October 15 approaches. It doesnt look like that will mean much for any trade deal. At 1ing at trading. 2956. Crude oil stuck in that range, up about one dollar. The confirmation hearings were Amy Coney Barrett are underway in washington. Lets bring in Elizabeth Wydra, who has been following the questioning. What stuck out to you today that you may not have thought of in Amy Coney Barrett us answering of the questions . Elizabeth i think her answers were what we would expect from a nominee, trying to avoid getting on specifics. Saying there is a difference between her personal views and what she would do on the bench. But the questioning that was going on just before this moment with sheldon whitehouse, the democrat from rhode island, brings home the point of what has been going on this morning. Platform,ican Party Republican senators on the judiciary committee, and donald trump, have been working tirelessly, putting Political Capital and tons and tons of money into getting a Supreme Court nominee who will overturn roe v. Wade, strike down the Affordable Care act, and risk the Marriage Equality rights that lgbtq americans have fought so hard to achieve. So it is a little bit silly to have this hearing this morning where the republican senators, in their soft questioning of Amy Coney Barrett, and in her answers back, are trying to say that they dont know how she will vote on these crucial questions that they have fought so hard to get a nominee to do exactly those things that President Trump made promises on the campaign trail, and even after he got into the white house, that he would put people in the Supreme Court to strike down roe and aca. It is a little bit of the parlor game. But as the question today showed, the stakes could not be higher, especially in the pandemic. You have looked at her record on the second circuit, and you say that her judgment has been a radical originalist. Would you give us more of an explanation . She did say that she would not be justice scalia. Sheabeth she says that takes her philosophy to be similar to that of justice scalia. What we at Constitutional Accountability Center mean when we say she is a radical originalist, originalists claim to follow the text of the constitution, but far too often, they privilege parts of the constitution that existed in the 18th century and overlook the transformative amendments to the constitution after the civil war, for example, that promised equality for all, that ensures the right to vote, and the right to live free from racial discrimination, gender discrimination and so on. And we look at her record, she doesnt appear to appreciate the whole constitution, including these amendments that guarantee equal citizenship, stature for women, lgbtq people, protections for immigrants, workers, people who are struggling to get by. Vonnie she did say that she is not hostile to the Affordable Care act and also said that it is not true to the suggestion that she may have an agenda. Anit possible to not have agenda but also be very clear in your thinking about what you might do if you were to become a Supreme Court justice on the question of the aca . Elizabeth it is a little bit hard to square those answers. She has been remarkably clear, actually, in her statements and writings before she got on the seventh circuit bench a few years ago that she disagrees with the ruling by the Supreme Court upholding the Affordable Care act. Belies the effort that the Republican Party and the president have put to getting a nominee who they explicitly say they want to overturn the aca, that they are rushing through while the people are voting, that they dont think she is going to overrule the aca. And ofhat she is saying, course, she has an interest in appearing to be an impartial camet, but everything that before her nomination, everything that surrounds it suggest that she will be a reliable vote to strike down the aca. That concerns Democratic Senators. They have shown over and over the effects on real people striking down the aca would have. If you look at the poles of the American People, it is deeply concerning to them, especially when we have people losing their jobs, potentially losing health care, in the middle of a pandemic. She is likely to get through. Not the first time that people have anticipated a justice would vote a certain way and then maybe this appointed or happy ton they finally succeeded the Supreme Court i did not vote the way that you thought. That could happen here, couldnt it . Elizabeth i certainly hope that every justice that gets on the Supreme Court will be truly an impartial adjudicator of the law. But what we have seen from the conservative Legal Movement after chief Justice John Roberts voted to uphold the aca are vows that they will never be fooled again. With the nominees under President Trump, justice kavanaugh, gorsuch, we have not seen any sort of liberal surprises from them. Certainly, with the stakes as huge as they are with this seat, both for the right and the left, as well as for the American People of all political stripes, i find it hard to believe that they would take any chances, especially when you look at her record. She has been remarkably clear about how she feels about the Affordable Care act, that she thinks the previous decisions were wrongly decided. When you look at her views on roe, she thinks it is an erroneous decision, those are her exact words. It is hard to think that she will get on the Supreme Court and do other thing that do what she promised. Vonnie two more things. You looked at her record and found that time and again she cited what corporate and employer interest, even when consumers had the president of the law on their side. On Something Else that she said today, she said it is president that gives samesex couples the right to marry, but she also said she would not give any president about a thumbs up or down. Wouldhat mean that she interpret differently or that she would try to go a different way than president s, if the opportunity arose . That she she has said things the duty of a justice is to follow their vision of the constitution, even if it conflicts at times with precedent. That is the important difference between confirming someone to the role that she has now, which is a Lower Appellate Court judge , a step below the Supreme Court, and being appointed to the Supreme Court. The Supreme Court sets precedent. They can overrule precedent. When we talk about issues like the Affordable Care act and roe, and even beyond that, to major civil rights issues, environmental protection, consumer protection, these are all on the table. That is what i think is important about the Supreme Court. When it comes to big business interest versus the interest of everyday americans, of course there are times in the law where the business interest should win, if the law is on their side. But what we have seen with the conservative members of the Supreme Court, they seem to put a thumb on the scale. Even if the law is arguably better on the sides of workers, business, then big overwhelmingly wins more than history. That is concerning. Vonnie thank you so much, that is Elizabeth Wydra. If you want to watch the full hearings, you can do so on the bloomberg terminal. Hit live go. An Imf World Bank discussion on the post pandemic economic recovery. We will hear from the Panel Including larry fink. This is bloomberg. Vonnie the International Monetary fund has scaled back its estimate from the hit to the Global Economy this year but did more in the final bill for the pandemic totaling 28 trillion in lost output. Francine lacqua is hosting an imf panel discussing the fallout and what a post covid19 World Economy could look like. There is a very broadbased social consensus in favor of addressing this issue. People want sustainability. That is what paris agreed to, governments agree to that, but very broadbased step. Social movement in favor of sustainability. When society decides they want something, when you have 125 countries that explicitly set that zero targets, the market gets on with supplying that. What we saw first in finance in many respects, the leaders in finance moving toward looking for the type of disclosure, managing assets toward greater sustainability. That has spread from the periphery to the mainstream in finance. We are seeing an absolute proliferation of disclosure and objectives toward moving to net zero. The question is how we accelerate it. A lot of what is being discussed this week at the imf and various meetings is exactly about that acceleration. Andmore credible predictable and consistent and impactful government policy is around climate, and there is a host of policies it is a price on carbon, regulation, tariffs, other direct infrastructure spending, the more credible that is, the more private sector will pull forward adjustment, accelerate the transition to make it easier, and that is taking advantage of huge opportunities. We are already seeing the scale of innovation that has come in the last five years. We will see a lot more given the focus. Yes, it is managing risk but it is about seizing the upside of the opportunity. That is what society wants. Francine larry fink . Larry so, the pandemic and the existential risk of health, the impact on society is only accelerating societies demand to address climate change. We are seeing evidence of that every day. Flows are greater this year than last year. In fact, more than double into sustainable investing. More and more investors are focusing on this. Discussed about what is great about finance, when we understand a problem, we bring the problem forward. This is why we believe climate risk is investment risk. That is becoming more tantamount in all investment strategies. We have seen some very large transformations and events. Even this year, exxon mobil, the Largest Company in the u. S. Years ago, is now off the dow jones index. The Largest Energy company in America Today is a Renewable Energy company. We are seeing a huge transition, real change. But because finances pulling this forward, we are seeing an acceleration. There is more believe that climate risk is investment risk across the board, worldwide. If countries are not addressing this, if companies are not addressing it, they will be pulled down. The countries and the companies that are bringing it forward, their performance will be improved over the course of the coming years. Minister, from where you are sitting, you face some significant debt pressures. Extendortant is it to some of these debt suspensions . Countries that are in a similar situation as angola, they are living with a lot of pressure. It is important to have the initiative extended. It iss why we understand a Board Initiative that has different impacts on each but it is important to have more time to recover from. His stress and just like i was mentioning before, it is important to have thissupport, to have possibility, to have this breathing space. ,t is important also to stress if there is postponement of the payment, we should pay after some time. We need to combine those kinds orinitiatives of suspending postponing the debt service with initiatives, while we can see toe fresh funding coming make sure that we can see the economy really recovering, and to companies that are struggling, to get those funds. Right now, the state has trouble supporting those companies, especially small and middle enterprises who are struggling, laying off people. To have private investment is key, to make sure we combine the initiatives. Hese programs likethat this can help a lot of companies. It is a good way to attract investment, make sure that we see some movement. Vonnie that was Francine Lacqua hosting a panel at the imf. To live go on the bloomberg. Apple unveiling its latest 5g iphone, the highly anticipated launch event. A moment ago, steve cook was joined on stage by the verizon ceo. Right now paren loss is about 1 . Lets bring in emily chang with more detail. 5g rolled out to all iphone users new and old . 5g is coming to all of the new iphones that apple unveiled today. We expect them to unveil four new models. So far they have been focusing on the 5g part. This was not unexpected but it is a huge technological upgrade to the iphones, meaning if you have 5g capability on the network you are on, wherever you are in the world, that means your phone will be faster, downloads faster, etc. We just saw tim cook on stage , who wasceo of verizon touting verizons ambitions and plans to upgrade their 5g network. He says planning to turn on a new 5g network, new capabilities immediately. The question is how much new capability will this add . Verizon has had some 5g , butility in limited areas rapid dropoffs in signal. The issue is if you buy one of these phones with 5g capability, are you going to see the benefits of that . You will not see the benefits of it until the carriers actually upgrade their networks. Verizon making a big announcement today, proclamation. Saying that 5g just got real, that it will be faster than anywhere in the world. It remains to be seen, until we see the network in action, if it is true. Vonnie unusual to see another ceo share the stage with tim cook. Obviously why he was there, because this is such a major deal. Apple is also really reliant on verizon. Where are we in terms of 5g . In your home, it is no good to you. Lets take verizon. Their Ultra Wideband Network has been available in select 36 cities across the country. As i said, you could have rapid dropoffs in signal in any of those areas, so it is not complete leave built out. Verizon is ahead of tmobile and at t, but a lot of them have work to do. One of the important things to note, if you look at china versus the u. S. , china is so much further ahead in terms of 5g infrastructure. About one third of the phones sold there are 5g enabled. You only have a few million phones sold in the year that are 5gequipped. Samsung has had them for a while now and that has not led to the Network Upgrades that are necessary. Apple is really reliant on the network to develop in order for people to see the benefits of their new 5g phones. Apple toriers need make these phones in order for customers to have that experience, that improved experience. I should also note, apple, at the beginning, also announced a new smart speaker, a new mini home pod that integrates with your iphone. If you are nearby, it will sense that you are there, integrate with that. Home pod has been sort of their answer to alexa. Has not taken off as much but certainly a category that they are excited about. Vonnie priced at 99. We dont know what price these phones will be at people we are getting some design details. Flat edges, will be available in five colors. 11 thinner and much lighter. That might