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

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Speaker 1: Doug Krisner. Our top story. In Vidia forecasting revenue below

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Speaker 1: the most lofty expectations, the company saying fiscal fourth quarter

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Speaker 1: sales will be about thirty seven and a half billion dollars.

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Speaker 1: Here's the thing. The range of analyst estimates was as

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Speaker 1: high as forty one billion. On the earnings call, CEO

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Speaker 1: Jensen Wang spoke about the high demand for Nvidia's new

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Speaker 1: Blackwell chip.

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Speaker 2: Blackwell production is in full steam. In fact, we will

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Speaker 2: deliver this quarter more Blackwells than we had previously estimated,

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Speaker 2: and so the supply chain team is doing an incredible job,

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Speaker 2: working with the working with our supply partners to increase Blackwell.

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Speaker 1: He is Jensen h Wang, the CEO of Nvidia. So far,

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Speaker 1: this year's shares are up nearly two hundred percent, turning

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Speaker 1: Nvidia into the world's most valuable company. Even so, the

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Speaker 1: chip maker has had a bit of trouble keeping up

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Speaker 1: with demand and struggling with some production snags. Shares and

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Speaker 1: Nvidia we're down two percent in the late US trading.

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Speaker 1: We go next to monetary policy here in the US.

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Speaker 1: The head of the Boston Fed Susan Collins was saying

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Speaker 1: today more cuts and interest rates are needed, however they

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Speaker 1: need to be done at a careful pace. She spoke

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Speaker 1: at the University of Michigan.

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Speaker 3: Monetary policy needs to adjust in order to achieve our

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Speaker 3: dual mandate goals, and while the final destination is uncertain,

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Speaker 3: I believe some additional policy easing is needed as policy

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Speaker 3: currently remains at least somewhat restrictive.

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Speaker 1: Susan Collins there the head of the Boston FED. She

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Speaker 1: went on to say the outlook for inflation is encouraging,

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Speaker 1: but it remains to be seen whether it can be sustained.

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Speaker 1: We heard similar comments today from Michelle Bowman, one of

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Speaker 1: the FED governors. She was speaking at the Forum Club

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Speaker 1: in West Palm Beach, Florida.

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Speaker 4: I would prefer to proceed cautiously in bringing the policy

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Speaker 4: rate down to better assess how far we are from

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Speaker 4: that endpoint, while recognizing that we have not yet achieved

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Speaker 4: our inflation goal, and also closely watching the evolution of

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Speaker 4: the labour market.

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Speaker 1: That is FED Governor Michelle Bowman. You may remember back

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Speaker 1: in September she voted against the Fed's half point rate cut,

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Speaker 1: instead preferring a smaller move. By the way, that was

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Speaker 1: the first such dissent by a Fed governor on monetary

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Speaker 1: policy in nearly two decades. Republicans on the House Ethics

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Speaker 1: Committee voted today against releasing a report on their long

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Speaker 1: running investigation of Matt Gates. The former Florida Republican congressman

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Speaker 1: is now President Elect Trump's nominee for attorney general. But,

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Speaker 1: as Bloomberg's Amy Morris tells us, the tug of war

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Speaker 1: over this report is not yet over.

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Speaker 5: Democrats, Susan Wilde of Pennsylvania says the Ethics Panel, which

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Speaker 5: is evenly split between the two parties, voted at a

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Speaker 5: two hour long closed door meeting, and no Republicans joined

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Speaker 5: Democrats who want to release the report. The panel is

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Speaker 5: expected to meet and vote again in December. Meanwhile, Gates

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Speaker 5: met four hours behind closed doors with Republican senators who

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Speaker 5: have questions about the sexual misconduct and others allegations against him.

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Speaker 5: At least one Republican Senator, Lindsey Graham, decried the quote

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Speaker 5: lynch mob forming against Gates in Washington, Amy Moore as

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Speaker 5: Bloomberg Radio.

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Speaker 1: The founder of our Kego's Capital Management, Bill Wong, was

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Speaker 1: sentenced today to eighteen years in prison. Back in July,

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Speaker 1: a jury found Wang guilty of misleading banks into providing

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Speaker 1: our Kagos with billions of dollars in trading capacity. Outside

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Speaker 1: the courtroom, Bloomberg's Cris dol Mech said the judge didn't

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Speaker 1: take long to decide.

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Speaker 6: He kind of just came out and said, you know,

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Speaker 6: this is the most difficult thing I have to do.

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Speaker 6: It's always a problem. I never liked the sentence I'm

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Speaker 6: giving out. Noo, he's ever going to be happy with it.

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Speaker 6: But he said the size of the losses here were

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Speaker 6: so massive and among the largest he's ever seen in

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Speaker 6: any case that he handled, that he had really no

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Speaker 6: choice but to sendence him to eighteen years.

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Speaker 1: That is Bloomberg's Chris Dolmech. Nowhang's bubble burst back in

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Speaker 1: March twenty twenty one, leading to the collapse of his

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Speaker 1: thirty six billion dollar family office. Now the fallout included

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Speaker 1: the eyes of Credit Suisse and significant losses for Morgan

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Speaker 1: Stanley Ubs and no mural holdings. In Texas, the state's

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Speaker 1: land Commissioner has offered more than fourteen hundred acres to

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Speaker 1: be used to construct deportation facilities. This is an indication

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Speaker 1: of how Texas is seeking to help the President elect

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Speaker 1: carry out his promise of mass crackdowns against undocumented immigrants.

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Speaker 1: In New York City, Sanitation Commissioner Jessica Tish has been

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Speaker 1: named police Commissioner. Mayor Eric Adams made the announcement at

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Speaker 1: City Hall.

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Speaker 7: To ensure New Yorkers have the ability to thrive in

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Speaker 7: our city, I mean the strong, battle tested leader who

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Speaker 7: will continue to drive down crime and ensure New Yorkers

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Speaker 7: are safe and feel safe. Now, I cannot think of

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Speaker 7: a leader more up to the task the Commissioner Jessica Tish.

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Speaker 1: That is New York City Mayor Eric Adams. By the way,

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Speaker 1: Tish will be the fourth police Commissioner of the Adams administration.

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Speaker 1: Federal probes led to the resignation of former Commissioner Edward Kaban,

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Speaker 1: as well as a number of deputy mayors.

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Speaker 2: You know.

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Speaker 1: Before serving as Sanitation chief, Tish led the city's Department

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Speaker 1: of Information Technology. She is the granddaughter of the late

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Speaker 1: Lawrence Tish, co founder of the Loews Corporation. And that

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

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Speaker 1: I'm Doug Prisoner, and this is Bloomberg