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Speaker 1: News when you want it with Bloomberg News Now, I'm

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Speaker 1: Doug Prisner. Doctor Anthony Fauci returned to Capitol Hill today

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Speaker 1: for his first public testimony since retiring from public service.

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Speaker 1: He testified at a House panel investigating the origins of COVID.

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Speaker 1: Fauci faced questions from House Republicans regarding a potential bribery scheme.

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Speaker 2: The accusation being circulated that I influenced these scientists to

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Speaker 2: change their minds by bribing them with millions of dollars

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Speaker 2: in grant money is absolutely false and simply preposterous. I

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Speaker 2: had no input into the content of the published paper.

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Speaker 1: Republicans claimed there were cover ups related to COVID. They

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Speaker 1: released transcripts suggesting that the former Biden adviser made up

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Speaker 1: the six foot social distancing rule to stop the spread.

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Speaker 1: Democrats denounced today's congressional hearing, calling it a witch hunt.

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Speaker 1: The US will be represented at this month's Ukraine Peace

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Speaker 1: Summit in Switzerland, However, President Biden will not be attending.

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Speaker 1: We have more from Bloombergs than Nathan Hager in Washington.

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Speaker 3: The White House says. Vice President Kamala Harris will head

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Speaker 3: to Lucerne for the gathering June fifteenth, along with National

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Speaker 3: Security Advisor Jake Sullivan. This confirms President Biden will skip

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Speaker 3: the event, despite public pressure from Ukrainian President Vladimir Zelenski

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Speaker 3: to attend. On the heels of this month's G seven

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Speaker 3: summit in Italy, Biden will be there, but then he'll

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Speaker 3: head to Los Angeles for a major fundraiser with former

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Speaker 3: President Barack Obama and actors George Clooney and Julia Roberts.

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Speaker 3: The White House says the US is involved in the

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Speaker 3: summit nonetheless and remains a strong supporter of Ukraine. In Washington,

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Speaker 3: I'm Nathan Hager Bloomberg Radio.

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Speaker 1: Donald Trump is doing a one eighty when it comes

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Speaker 1: to courting younger voters. The former president has joined TikTok,

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Speaker 1: the Chinese app he tried to ban while he was

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Speaker 1: in office. Bloomberg's and Decurrent has more from Washington.

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Speaker 4: Domestically speaks to its potency as a political communications tool,

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Speaker 4: I suppose, but there's no doubt that President Trump he

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Speaker 4: led the push to Bonnet when he was an all then

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Speaker 4: of course he did that you turn when Congress were

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Speaker 4: looking at it a few months ago. If anything, it

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Speaker 4: speaks to the idea that yes, if there's a change

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Speaker 4: of administration, President Trump will be even more holkish on

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Speaker 4: China trade. That's what he's vowed to do. But there

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Speaker 4: will also be an element of uncertainty, an element of

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Speaker 4: lacking clarity in terms of what exactly China policy will be.

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Speaker 1: That's Bloomberg's and the current in Washington. A week report

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Speaker 1: on US manufacturing heightened concern over a sputtering American economy.

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Speaker 1: Bloomberg's Michael McKee breaks down the numbers from the Institute

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Speaker 1: for Supply Management and the S and P.

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Speaker 5: Global ismn The manufacturing number comes in at forty eight

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Speaker 5: point seven. That's down from forty nine point two. The

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Speaker 5: forecast had been it would go up to forty nine

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Speaker 5: and a half. And remember we got that S and

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Speaker 5: P Global PMI for the United States and fifty one

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Speaker 5: to three stronger than expected. So this one comes in

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Speaker 5: weaker than expected.

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Speaker 1: That is Bloomberg's Michael McKee. Now, even within the ASM report,

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Speaker 1: there were curiosities. The measure of new orders posted its

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Speaker 1: biggest drop since June twenty twenty two. However, the ISM

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Speaker 1: employment index rose. Chip Makers in Nvidia and AMD are

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Speaker 1: squaring off in the fight to control artificial intelligence. More

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Speaker 1: from Bloomberg's Joan Wong in Hong Kong.

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Speaker 6: The two company CEOs fleshed out there are different tacks

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Speaker 6: on AI. At the world's largest computing conference in Taipei

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Speaker 6: and Vidius Jensen, Wang headlined his presentation by teasing a

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Speaker 6: new Ruben chip and visioned for twenty twenty six. He

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Speaker 6: spoke about the company's dominance in generative AI AMDs. Lisa

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Speaker 6: Sue focused on the design of neuroprocessors that run AI

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Speaker 6: services directly from laptops. She matched Hwang's annual upgrade timeline

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Speaker 6: by announcing new chips for twenty twenty five and twenty

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Speaker 6: twenty six. Delegates said Huang's performance drove Home and Vidia's

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Speaker 6: dominance and that AMD has a long way.

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Speaker 3: To go to catch up.

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Speaker 6: In Hong Kong, join Wang.

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Speaker 1: Bloomberg Radio Shipping giant ap Meller marisk its full year

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Speaker 1: profit forecast again seems congestion in the Red Sea is

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Speaker 1: causing freight rates to rise, and really it's the only

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Speaker 1: way to avoid the conflict in the Red Sea is

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Speaker 1: to sail around Africa. That is the big factor here,

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Speaker 1: Bloomberg Intelligence, saying Huthi militant attacks have cut container line

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Speaker 1: transit through the Suez Canal by around eighty percent. You know,

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Speaker 1: this is the second time in about a month that

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Speaker 1: Marisk raised its forecast. The company also sees further port congestions,

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Speaker 1: especially in Asia and the Mid East, which is also

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Speaker 1: causing those freight rates to soar. And that is news

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Speaker 1: when you want it with Bloomberg News Now, I'm Doug

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Speaker 1: Chrisner and this is Bloomberg New