July 2, 2025 • 5 mins
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Speaker 1 (00:01):
News when you want it with Bloomberg News Now. I'm
Doug Krisner, and we begin in Washington, where a key
procedural vote is underway in the House on President Trump's
tax and spending bill. The New York Times site's comments
from House Speaker Mike Johnson to Sean Hannity of Fox
Johnson said the President called him and asked who else
needs to have a discussion. Johnson was quoted as saying,
(00:23):
mister President, you've done your job. We'll do ours. Here
here he is Johnson.
Speaker 2 (00:29):
Well, it's been a long, productive day. We've been talking
with members from across the conference and making sure that
everyone's concerns are addressed and their questions are answered, and
it's been a good day. We're in a good place
right now. This is the legislative process. This is exactly
how I think the Framers intended for it to work.
Speaker 1 (00:48):
That was House Speaker Mike Johnson speaking there. There was
a sell off in the UK bond market today. That
was after the Labor Party made a U turn and
scrapped plans to reduce welfare spending. This move will make
it harder for Chancellor of the Exchequer Rachel Reeves to
adhere to her self imposed fiscal rules, and after British
Prime Minister Keir Starmer failed to support her, Reeves became
(01:12):
visibly emotional in an appearance in the House of Commons,
and that in turn led to speculation over her replacement
and potential changes in UK fiscal policies. However, later in
an interview with the BBC, Starmer denied it was a disaster.
Speaker 3 (01:27):
What I will say is that she's done an excellent
job as chancellor. We have delivered inward investments in this
country in record numbers, one hundred and twenty billion pounds,
not to be measured in jobs. We've created conditions for
wages to go up, and we've jointly worked on spending review,
which is very broadly popular. She's done a fantastic job.
Speaker 1 (01:50):
That was British Prime Minister Keir Starmer there Later, his
office reaffirmed the PM's support for Reeves and cited a
personal matter as the reason for her emotional state. Now
many bond traders see Reeves as their preferred chancellor because
of her commitment to restrict UK borrowing. The equity market
rose to record highs today. That was after President Trump
(02:11):
said he reached a trade deal with Vietnam, and in
the process, Vietnam will avoid higher tariffs that were set
to take effect next week. Under this agreement, the US
will impose a twenty percent tariff on Vietnamese imports and
then a forty percent levy on goods that appear to
be rerooted from other countries like China. Here is Bloomberg
(02:33):
Shaan Donnan.
Speaker 4 (02:34):
What China is worried about is exactly a deal like this,
something that isolates them, that isolates Chinese companies, that applies
a higher tire freight to them. We still don't know
the details here, but you know, will this apply the
Chinese companies that have factories in Vietnam or will it
just apply to the products that are that are made
(02:56):
in China and are coming through Vietnam.
Speaker 1 (02:58):
That is Bloomberg Shawn Donnan, reporting from Washington Now. Shares
today in Nike and other apparel and footwear companies rose
on the hope that this deal will avert a potentially
disruptive problem for supply chains. Nike shares were up about
four percent a day after seven weeks of graphic testimony
and three days of deliberations, the jury in the trial
(03:19):
of Sean Diddy, Comb's delivered a mixed verdict. The rap
mogul was found not guilty of sex trafficking and racketeering. However,
he was convicted on two counts of transporting prostitutes. Here
is defense attorney Mark Magnifilo.
Speaker 5 (03:34):
You saw that the Southern District of New York prosecutors
came at him with all that they had. They're not stopping.
But one thing stands between all of us and a prison,
and that is a jury of twelve citizens.
Speaker 1 (03:51):
That was defense attorney Mark Agnifilo speaking there.
Speaker 4 (03:54):
Now.
Speaker 1 (03:54):
The judge in this case has denied Diddy bond. He
still faces up to twenty years on lesser charges. Brian
Coburger admitted today to murdering four University of Idaho students
back in November twenty twenty two. In an Idaho courtroom.
Coburger took a plea deal of guilty, and that means
he will not get the death penalty. However, Coburger will
(04:16):
get consecutive life sentences. In court, Judge Stephen Hipler read
the plea agreement to Coburger.
Speaker 6 (04:21):
Has anyone promised you that I would be leaning or
easy on you if you played guilty. No, has anyone
threatened you or anyone close to you to get you
to plead guilty. No is anyone other than the state's
agreements with respect to the plea agreement. Has anyone promised
you anything in exchange for your plea agreement? No, has
(04:44):
anyone told you to be untruthful in answering my questions today.
Speaker 1 (04:48):
No, that is Judge Stephen Hipler speaking to Brian Coberger,
And that is news what you wanted with Bloomberg News. Now,
I'm Doug Chrisner, and this is Bloomberg
News when you want it with Bloomberg News Now. I'm
Doug Krisner, and we begin in Washington, where a key
procedural vote is underway in the House on President Trump's
tax and spending bill. The New York Times site's comments
from House Speaker Mike Johnson to Sean Hannity of Fox
Johnson said the President called him and asked who else
needs to have a discussion. Johnson was quoted as saying,
(00:23):
mister President, you've done your job. We'll do ours. Here
here he is Johnson.
Speaker 2 (00:29):
Well, it's been a long, productive day. We've been talking
with members from across the conference and making sure that
everyone's concerns are addressed and their questions are answered, and
it's been a good day. We're in a good place
right now. This is the legislative process. This is exactly
how I think the Framers intended for it to work.
Speaker 1 (00:48):
That was House Speaker Mike Johnson speaking there. There was
a sell off in the UK bond market today. That
was after the Labor Party made a U turn and
scrapped plans to reduce welfare spending. This move will make
it harder for Chancellor of the Exchequer Rachel Reeves to
adhere to her self imposed fiscal rules, and after British
Prime Minister Keir Starmer failed to support her, Reeves became
(01:12):
visibly emotional in an appearance in the House of Commons,
and that in turn led to speculation over her replacement
and potential changes in UK fiscal policies. However, later in
an interview with the BBC, Starmer denied it was a disaster.
Speaker 3 (01:27):
What I will say is that she's done an excellent
job as chancellor. We have delivered inward investments in this
country in record numbers, one hundred and twenty billion pounds,
not to be measured in jobs. We've created conditions for
wages to go up, and we've jointly worked on spending review,
which is very broadly popular. She's done a fantastic job.
Speaker 1 (01:50):
That was British Prime Minister Keir Starmer there Later, his
office reaffirmed the PM's support for Reeves and cited a
personal matter as the reason for her emotional state. Now
many bond traders see Reeves as their preferred chancellor because
of her commitment to restrict UK borrowing. The equity market
rose to record highs today. That was after President Trump
(02:11):
said he reached a trade deal with Vietnam, and in
the process, Vietnam will avoid higher tariffs that were set
to take effect next week. Under this agreement, the US
will impose a twenty percent tariff on Vietnamese imports and
then a forty percent levy on goods that appear to
be rerooted from other countries like China. Here is Bloomberg
(02:33):
Shaan Donnan.
Speaker 4 (02:34):
What China is worried about is exactly a deal like this,
something that isolates them, that isolates Chinese companies, that applies
a higher tire freight to them. We still don't know
the details here, but you know, will this apply the
Chinese companies that have factories in Vietnam or will it
just apply to the products that are that are made
(02:56):
in China and are coming through Vietnam.
Speaker 1 (02:58):
That is Bloomberg Shawn Donnan, reporting from Washington Now. Shares
today in Nike and other apparel and footwear companies rose
on the hope that this deal will avert a potentially
disruptive problem for supply chains. Nike shares were up about
four percent a day after seven weeks of graphic testimony
and three days of deliberations, the jury in the trial
(03:19):
of Sean Diddy, Comb's delivered a mixed verdict. The rap
mogul was found not guilty of sex trafficking and racketeering. However,
he was convicted on two counts of transporting prostitutes. Here
is defense attorney Mark Magnifilo.
Speaker 5 (03:34):
You saw that the Southern District of New York prosecutors
came at him with all that they had. They're not stopping.
But one thing stands between all of us and a prison,
and that is a jury of twelve citizens.
Speaker 1 (03:51):
That was defense attorney Mark Agnifilo speaking there.
Speaker 4 (03:54):
Now.
Speaker 1 (03:54):
The judge in this case has denied Diddy bond. He
still faces up to twenty years on lesser charges. Brian
Coburger admitted today to murdering four University of Idaho students
back in November twenty twenty two. In an Idaho courtroom.
Coburger took a plea deal of guilty, and that means
he will not get the death penalty. However, Coburger will
(04:16):
get consecutive life sentences. In court, Judge Stephen Hipler read
the plea agreement to Coburger.
Speaker 6 (04:21):
Has anyone promised you that I would be leaning or
easy on you if you played guilty. No, has anyone
threatened you or anyone close to you to get you
to plead guilty. No is anyone other than the state's
agreements with respect to the plea agreement. Has anyone promised
you anything in exchange for your plea agreement? No, has
(04:44):
anyone told you to be untruthful in answering my questions today.
Speaker 1 (04:48):
No, that is Judge Stephen Hipler speaking to Brian Coberger,
And that is news what you wanted with Bloomberg News. Now,
I'm Doug Chrisner, and this is Bloomberg
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