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Speaker 1: Bloomberg Audio Studios, podcasts, radio, news.

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Speaker 2: News when you want it With Bloomberg News Now, I'm

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Speaker 2: Bryan Curtis. In Hong Kong, the top American diplomat in China,

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Speaker 2: Nicholas Burns, has hit out at Beijing's objections to a

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Speaker 2: potential ban on TikTok. Burns says it's supremely ironic that

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Speaker 2: China would weigh in, given that it does not allow

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Speaker 2: its citizens to use US platforms such as Facebook and X.

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Speaker 3: We've heard a number of complaints from the government here

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Speaker 3: in Beijing this week about the American debate on TikTok.

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Speaker 3: I find it supremely ironic because government officials here are

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Speaker 3: using the X platform to criticize the United States. They

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Speaker 3: don't give their own citizens the right to use X,

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Speaker 3: to use Instagram, to use Facebook, to have access of Google.

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Speaker 3: It is ironic.

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Speaker 2: Indeed, in the meantime, the US Senate appears to be

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Speaker 2: in no hurry to back the legislation forcing a sale

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Speaker 2: of TikTok. Both sides of the Aisle seem opposed to

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Speaker 2: fast track legislation. However, if TikTok were eventually forced into

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Speaker 2: a sale, former US Treasury Secretary Steven Manushan says he's

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Speaker 2: ready to buy. He told CNBC he's getting a group

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Speaker 2: of investors together to purchase the app. Dan Ives at

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Speaker 2: Wedbush Security says Manusian will have to get in line.

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Speaker 4: He's going to.

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Speaker 5: Join the long list, right, I mean, others haven't talked.

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Speaker 5: If you a strategic financial you're going to have a

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Speaker 5: long list of buyers from Big TAC as well as

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Speaker 5: outside looking to get TikTok. Because it's a unique golden

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Speaker 5: asset then no one ever thought would become available. We

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Speaker 5: still believe only a twenty five percent chance this ban

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Speaker 5: actually happened.

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Speaker 2: Dan Ives. The TikTok divestment bill was passed earlier this

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Speaker 2: week in the House. No word yet on when the

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Speaker 2: bill will be raised in the Senate. Steelmaker Cleveland Cliffs

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Speaker 2: is said to be weighing a low ball bid for

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Speaker 2: US Steel. The CEO of clear Glyn Cliffs, Lorenzo Gonzalvez,

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Speaker 2: says he would consider a bid with the support of

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Speaker 2: the United steel Workers union, although he said his bid

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Speaker 2: would be significantly lower than the existing offer from Nippon Steel.

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Speaker 2: We hear Samsung may be awarded more than six billion

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Speaker 2: dollars from the US Chips Act. The money would be

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Speaker 2: one of several major awards expected to be announced by

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Speaker 2: the Commerce Department in the coming weeks. We hear the

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Speaker 2: grant would help Samsung expand beyond its seventeen billion dollar

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Speaker 2: project in Texas. Bloomberg's Peter Elstrom has more on the funding.

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Speaker 6: It is a combination of things. The grants obviously are

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Speaker 6: the money that they would prefer to have at this

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Speaker 6: point for some of these facilities. The loans also, at

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Speaker 6: some point you have to pay that money back, but

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Speaker 6: there are some strings attached that have caused some hesitation

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Speaker 6: from some of the companies. The Commerce Department has put

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Speaker 6: some conditions on these processes, and that's part of the

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Speaker 6: reason why this process has been quite slow in the

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Speaker 6: United States compared to other places.

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Speaker 2: Former President Donald Trump is reportedly thinking of putting a

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Speaker 2: hedge fund billionaire in charge of the Treasury if he

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Speaker 2: wins back the White House. Bloomberg's Jack Fitzpatrick has more

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Speaker 2: from Washington.

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Speaker 1: But the names that have come up include John Paulson,

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Speaker 1: the former US Trade Representative, Robert Leiitthheiser, jeff Yass of

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Speaker 1: Susquehanna Group, and Scott Bessen from Key Square Group. So

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Speaker 1: some major names with a history in finance being discussed

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Speaker 1: at least in a very preliminary way among people around

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Speaker 1: the former President for Treasury Secretary.

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Speaker 2: Bloomberg Government's Jack Fitzpatrick. A group of private investors is

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Speaker 2: working to raise funds for Ukraine's reconstruction effort. Blackrock vice

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Speaker 2: chair Hildebrand says the Ukraine Development Fund is on track

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Speaker 2: to secure at least five hundred million dollars in public grants.

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Speaker 2: That's along with two billion dollars from private investors. Hildebrand

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Speaker 2: talked about it with Bloomberg's Katherine Griffiths.

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Speaker 4: The World Bank estimates that the rebuilding of Ukraine, and

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Speaker 4: of course the bill goes up constantly as the war

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Speaker 4: goes on, but that bill is about five hundred billion

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Speaker 4: dollars worth of rebuilding. The estimate for how much private

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Speaker 4: finance can do, roughly speaking, is about eighty billion, and

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Speaker 4: this fund, if all things go well, could sort of

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Speaker 4: with the fund itself plus other co investors, get to

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Speaker 4: about fifteen to twenty billion dollars worth, so quite a

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Speaker 4: significant amount.

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Speaker 2: That's Bloomberg's Katherine Griffith's in London. That's news when you

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Speaker 2: want it with Bloomberg News Now. I'm Brian Curtis. This

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Speaker 2: is Bloomberg