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

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Speaker 1: Brian Curtis. The campaign for the post of House Speaker

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Speaker 1: is in full swing. With less than a week to

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Speaker 1: go before the first vote. Two candidates have announced their

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Speaker 1: interest House Majority Leader Steve Scalise and Congressman Jim Jordan.

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Speaker 1: Democratic Congressman Brad Sherman of California says his party wants

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Speaker 1: Sakim Jeffries, but he was pressed on who was likely

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Speaker 1: to win.

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Speaker 2: I wouldn't be surprised if it ends up being Scalise

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Speaker 2: in the number one position and Jordan in the number

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Speaker 2: two position. I also wouldn't be surprised if we have

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Speaker 2: continuing chaos, But I think their craziest members may have

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Speaker 2: gotten their pound of flesh they have and may be

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Speaker 2: willing to abide by the tradition, which is, if your

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Speaker 2: caucus selects a leader, you vote for that leader for

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Speaker 2: Speaker of the House.

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Speaker 1: Congressman Brad Sherman on Bloomberg Sound on the first vote

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Speaker 1: for speaker is set for next win. The Biden administration

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Speaker 1: is justifying its decision to add to the border wall.

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Speaker 1: That story from Bloomberg's Nancy Lyons.

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Speaker 3: When pressed by a reporter on whether he changed his

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Speaker 3: opposition to a border wall, President Biden was clear.

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Speaker 4: Do you believe the border wall works? No.

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Speaker 3: White House Press Secretary Karine Jean Pierre says the administration

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Speaker 3: was left with no choice but to move forward with

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Speaker 3: construction of about twenty miles of the border wall, saying

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Speaker 3: the money needed to be spent by the end of

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Speaker 3: twenty twenty three. These funds were appropriated in fiscal year

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Speaker 3: twenty nineteen under Republican leadership, and DHS is required by

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Speaker 3: law to use the funds for appropriate appropriated purpose. In Washington,

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Speaker 3: Nancy lyons Bloomberg Radio.

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Speaker 1: Multiple reports have emerged that Donald Trump may have shared

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Speaker 1: potentially sensitive information regarding US nuclear submarines. Bloomberg's Ed Baxter

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Speaker 1: has the story.

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Speaker 5: The shared information reportedly included how many nuclear warheads US

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Speaker 5: submarines carry and how close they can get to a

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Speaker 5: Russian submarine with a being detected, part of a conversation

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Speaker 5: after Trump left office at mar A Lago with Australian

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Speaker 5: businessman Anthony Pratt, who runs one of the world's largest

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Speaker 5: cardboard companies. The report says Special counsel Jack Smith has

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Speaker 5: reviewed the claims. A Trump spokesperson says the DOJ should

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Speaker 5: be looking into criminal leaking instead of perpetrating baseless witch hunts.

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Speaker 5: I'm at Baxter Bloomberg Radio.

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Speaker 1: Meantime, the US and China are moving closer to setting

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Speaker 1: up a meeting between Presidents Biden and Shi Jinping. The

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Speaker 1: meeting would take place at the APEX summit next month

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Speaker 1: in San Francisco. That's according to people familiar with the matter.

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Speaker 1: US banks have raised their economic growth forecasts for China.

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Speaker 1: Bloomberg's and Kates has the story.

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Speaker 6: JP Morgan Chase strategists say recent data suggests the economic

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Speaker 6: slowdown in China since April has likely bottomed and a

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Speaker 6: turnaround is underway, and that trend, coupled with additional policy support,

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Speaker 6: means China is on track to meet the upgraded five

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Speaker 6: percent target for its gross domestic product. City Group He's

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Speaker 6: also boosting its GDP projection for China to five percent.

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Speaker 6: CTELL economists have pointed to concerns about consumer confidence because

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Speaker 6: of all week job market and the financial troubles of

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Speaker 6: property developers.

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Speaker 1: Bloomberg's and Kates in the fraud trial of FTX founder

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Speaker 1: Sam Bankman freed co founder Gary Wong took the stand

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Speaker 1: and provided some damning testimony to the court. More from

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Speaker 1: Bloomberg's AVA Bennie Morrison.

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Speaker 7: He walked into the court, He didn't make eye contacts

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Speaker 7: with Sam. He sat in the witness box and we're

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Speaker 7: speaking very quickly. Could tell he was a little bit nervous,

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Speaker 7: sort of, you know, reciting everything that happened at FTX

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Speaker 7: in front of a court room full of people. He

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Speaker 7: said that, yes, he committed a financial crime with Bateman Freed,

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Speaker 7: he altered the code that allowed Alameda to borrow billions

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Speaker 7: of dollars from FTX.

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Speaker 1: Bloomberg's AVA Bennie Morrison, Sam bankman Fried's lawyers argue that

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Speaker 1: he made mistakes but had no ill intent. Elon Musk

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Speaker 1: is being pressed to testify before the SEC about his

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Speaker 1: stock sales ahead of the purchase of Twitter. More from

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Speaker 1: Bloomberg's Tom Giles.

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Speaker 4: The things that they're looking into, in particular, he tweeted

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Speaker 4: back in May of that year about how the deal

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Speaker 4: cannot move forward. This all came out in the middle

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Speaker 4: of last year. It was basically the things that he

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Speaker 4: said publicly about the deal. The SEC is wondering whether

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Speaker 4: those things were on the up and up.

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Speaker 1: Bloomberg's Tom Giles attorneys formask say their client has testified

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Speaker 1: numerous times and quote, enough is enough. That's news when

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Speaker 1: you want to it with Bloomberg News Now. I'm Brian Curtis.

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Speaker 1: This is Bloomberg