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Speaker 1: The news when you want it with Bloomberg News Now,

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Speaker 1: I'm Charlie Pellett. President elect Donald Trump is nominating former

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Speaker 1: Senator David Purdue as the US Ambassador to China, enlisting

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Speaker 1: a former business executive turned politician for one of his

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Speaker 1: most important diplomatic posts. Trump meanwhile also says he is

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Speaker 1: selecting venture capitalist David Sachs of Craft Ventures to serve

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Speaker 1: as his Artificial Intelligence and cryptos are and with more

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Speaker 1: from Hong Kong, here's Bloomberg Zannabelle Droolers.

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Speaker 2: Crypto is very interesting because this is an area where

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Speaker 2: the US has sort of been reluctant to Yes, they've

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Speaker 2: got sort of the institutional base, and yes they've got

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Speaker 2: a lot of the innovation coming from there, but actually

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Speaker 2: to regulate the space. They haven't really wanted to do

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Speaker 2: that just yet. But now we've actually got a sense

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Speaker 2: of just the priority that this is going to be

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Speaker 2: taking in another appointment. Because Trump has named David Osaks

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Speaker 2: as the White House AI and cryptos are.

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Speaker 1: Trump is also naming Rodney Scott as US Customs and

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Speaker 1: Border Protection Commissioner. Defense Secretary nominee Pete Hexseth was on

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Speaker 1: Capitol Hill meeting with senators amid controversy surrounding his nomination.

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Speaker 1: He met with South Dakota Republican Senator Mike Rounds and

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Speaker 1: took questions from reporters about support for him from Trump

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Speaker 1: and on the hill.

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Speaker 3: What a president elect?

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Speaker 1: Trumpsoaser? He said, he's behind us all the way spoken

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Speaker 1: this morning.

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Speaker 4: Do you have the botet confirmed?

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Speaker 2: That's why we're here to meet with senators.

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Speaker 3: It's been a wonderful process.

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Speaker 1: There is welcome news for the commuters who use the

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Speaker 1: Port Authority of New York and New Jersey bus terminal.

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Speaker 1: It has finally secured the green light to start its

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Speaker 1: ten billion dollar replacement and expansion of the world's busiest

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Speaker 1: bus terminal. And with more. Here's Bloomberg's Denis Pellegrini.

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Speaker 5: The Federal Transit Administration announcing the approval following a federally

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Speaker 5: mandated environmental review of the Midtown Manhattan Bus Terminal replacement

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Speaker 5: construction slated to start early next year. The new terminal

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Speaker 5: will replace the existing over seventy year old facility. It'll

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Speaker 5: include a new two point one million square foot main terminal,

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Speaker 5: a separate storage and staging building, and new ramps leading

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Speaker 5: in and out of the Lincoln Tunnel, and this revamp

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Speaker 5: also entails the permanent closure of a portion of forty

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Speaker 5: first Street between eighth and ninth Avenue's a central main entrance,

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Speaker 5: more street facing retail, a soaring multi story indoor atrium,

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Speaker 5: and a new public open space. Denise Pelgriny Bloomberg Radio.

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Speaker 1: After the close of trading, we heard from Lulu Lemon

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Speaker 1: Athletica and it edged up its full year outlook, showing

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Speaker 1: the upscale active where brand is making progress in fending

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Speaker 1: off upstart competitors and slower growth in consumer spending. Punam

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Speaker 1: Goyal is a Bloomberg Intelligence Senior Analyst for e commerce

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Speaker 1: and ath leisure.

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Speaker 4: So Lemon have had a tough year in all honesty,

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Speaker 4: and part of that is because of product execution. They

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Speaker 4: had a neutral color pilla earlier this year which didn't

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Speaker 4: resonate with customers. As they've improved execution and really brought

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Speaker 4: the product back to life with their customers who are

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Speaker 4: now seeing it in the results, we're seeing better results.

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Speaker 4: Sales in the quarter grew nine percent, ahead of consensus

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Speaker 4: seven percent in their own expectations, and not only did

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Speaker 4: sales grow, but margins also did better. They had one

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Speaker 4: hundred and fifty basis point increase in gross margin, which

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Speaker 4: was well ahead of expectations. So what this tells me

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Speaker 4: is that they're doing things fright.

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Speaker 1: Punamgoya ill Love Bloomberg Intelligence. World Financial markets are awaiting

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Speaker 1: the US employment report. A preview from Bloomberg's Vinidell Judae

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Speaker 1: economistter forecasting.

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Speaker 3: US jobless claims held their historic lows last week. The

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Speaker 3: media and forecast about two hundred and fifteen thousand. Even so,

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Speaker 3: the total number of American workers collecting unemployment benefits is

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Speaker 3: at a three year high, as sign it's taking longer

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Speaker 3: for many defined work. Friday's monthly payroll report Meantime is

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Speaker 3: expected to post a rebound on November, gain topping two

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Speaker 3: hundred thousand. Vinnie Doel Judice, Bloomberg Ray.

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Speaker 1: US stocks declined from records. The Dow, the SMP, and

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Speaker 1: Nestak all retreated. SMP was down eleven, down two tenths

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Speaker 1: of one percent now industrials down two hundred and forty eight,

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Speaker 1: down five tenths, while Nestak was down two tenths of

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Speaker 1: one percent. And that's news when you want it with

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Speaker 1: Bloomberg News. Now I'm Charlie Pelatan, this is Bloomberg,