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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 in Hong Kong. Donald Trump has been found

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Speaker 1: guilty of all thirty four counts in his election interference

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Speaker 1: hush money trial. Its history as Trump becomes the first

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Speaker 1: former American president to be found guilty of felony crimes.

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Speaker 1: Sentencing is set for July eleventh, when Judge One Merchon

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Speaker 1: will announce whether Trump will serve any time in jail.

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Speaker 1: Here's Donald Trump's reaction. This was a disgrace. This was

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Speaker 1: a rigged trial by a conflicted judge who was corrupted.

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Speaker 1: It's a rigged trial and disgrace. They wouldn't give us

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Speaker 1: a venue change. We were at five percent or six

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Speaker 1: percent in this district, in this area.

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Speaker 2: This was a rigged, disgraceful trial that the real verdict

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Speaker 2: is going to be November fifth, by the people.

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Speaker 1: The Manhattan District Attorney, Alvin Bragg, who brought the case,

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Speaker 1: says he did his job and followed the law.

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Speaker 3: The twelve.

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Speaker 4: Every Day jurors vowed to make a decision based on

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Speaker 4: the evidence and the law, and the evidence and the

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Speaker 4: law alone.

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Speaker 1: After Trump was found guilty, Manhattan District Attorney Alvin Bragg

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Speaker 1: said he will not talk about any possible jail time

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Speaker 1: for Trump and will let that play out in court.

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Speaker 1: We're watching the political fallout from the Trump guilty verdict.

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Speaker 1: That part of the story from Bloomberg's Amy Morris.

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Speaker 5: In Washington, the Biden Harris campaign released a statement saying, quote,

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Speaker 5: we saw that no one is above the law. House

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Speaker 5: Speaker Mike Johnson posted on x that quote. Today is

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Speaker 5: a shameful day in American history. Bloomberg's Megan Scully says

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Speaker 5: lawmakers on Capitol Hill are all in campaign mode, and

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Speaker 5: this guilty verdict is a factor.

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Speaker 6: We have tons of legislation coming to the floor that

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Speaker 6: are messaging votes, things that are never going to become law,

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Speaker 6: but that are good for their candidates to vote on.

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Speaker 6: And I think that there will certainly be some messaging

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Speaker 6: legislation targeted at supporting Donald Trump.

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Speaker 5: Bloomberg's Megan's Gully on Bloomberg's Balance of power in Washington,

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Speaker 5: Amy Morris, Bloomberg Radio New York.

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Speaker 1: Fed President John Williams says he expects inflation to fall

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Speaker 1: in the United States in the second half of the year.

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Speaker 1: He added that higher rates are restraining the economy.

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Speaker 4: Looking at this broader context, the behavior of the economy

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Speaker 4: of the past year provides ample evidence that Monte policy

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Speaker 4: is restrictive in a way that helps achieve more goals.

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Speaker 4: We're seeing clear and consistent signs of the imbalances between

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Speaker 4: supply and demand in the economy are receiving, and we've

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Speaker 4: seen a broad based decline in inflation.

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Speaker 1: Williams also said that inflation is still too high, but

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Speaker 1: that FED policy is well positioned. In the meantime, we

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Speaker 1: had a downward revision to first quarter growth in the

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Speaker 1: United States, but it was not a big surprise that

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Speaker 1: story from Bloomberg's Michael McKee.

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Speaker 2: GDP comes in as forecast up one point three percent.

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Speaker 2: This is a revision to the first quarter number, and

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Speaker 2: that's down from one point six percent that was originally reported.

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Speaker 2: And a bit of that is consumer spending. Personal consumption

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Speaker 2: at two percent, down from two and a half percent

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Speaker 2: initially reported.

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Speaker 1: And that's Bloomberg's Michael McKee. Dell Technologies after the bill,

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Speaker 1: reported its first revenue increase since twenty twenty two, but

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Speaker 1: it wasn't enough to impress investors to get The story

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Speaker 1: from Bloomberg's Charlie.

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Speaker 3: Pellett sales increased six point three percent to twenty two

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Speaker 3: point two billion dollars in the period ending May third. Analysts,

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Speaker 3: on average estimated twenty one point six billion. Chief operating

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Speaker 3: Officer Jeff Clark said revenue from shipping servers optimized for

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Speaker 3: artificial intelligence tasks more than doubled from the previous quarter

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Speaker 3: to one point seven billion dollars. For its better known

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Speaker 3: business of selling PCs, Dell reported twelve billion dollars in revenue,

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Speaker 3: little change from the same period a year earlier. In

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Speaker 3: New York, Charlie Pale Bloomberg Radio.

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Speaker 1: Del stock was down about eighteen percent in late trading.

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Speaker 1: US officials have slowed the issuing of licenses to major

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Speaker 1: chip makers for AI acceleratorshipments to the Middle East. We

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Speaker 1: hear Nvidia and AMD are among the impacted companies. The

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Speaker 1: slow down comes as officials conduct a national security review

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Speaker 1: of AI development in the region. President Biden is making

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Speaker 1: travel plans for Paris. Bloomberg Nathan Hager reports from Washington.

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Speaker 7: The President is headed to France next week for his

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Speaker 7: first state visit with President Emmanuel Macron. It is set

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Speaker 7: for next Saturday, June eighth, in Paris, Macron's office says

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Speaker 7: the leaders will discuss the need for continued unwavering support

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Speaker 7: for Ukraine ahead of the G seven summit in Italy

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Speaker 7: next month and the NATO gathering in Washington in July.

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Speaker 7: President Biden will also head to Normandy on June sixth

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Speaker 7: to mark eighty years since the D Day Battle that

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Speaker 7: led to Nazi defeat in World War II. Biden's trip

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Speaker 7: also comes ahead of European elections. Macron's centrist coalition currently

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Speaker 7: trails Marine La Penn's far right party in the polls.

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Speaker 7: In Washington. I'm Nathan Hager, Bloomberg Radio.

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Speaker 1: That's news when you want it with Bloomberg News. Now.

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Speaker 1: I'm Brian Curtis. This is Bloomberg