November 1, 2025: Berkshire’s Earnings Soar, China to Suspend Some Rare Earth Curbs, More

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Speaker 1 (00:00):
News when you want it with Bloomberg News Now, I'm
mid Kaalgi Berkshire Hathaway's cash pile soared to three hundred
and eighty one point seven billion dollars in the third quarter,
a fresh record, and operating earning surge thirty four percent.
At chief executive officer Warren Buffett's conglomerate, that figure hit
thirteen and a half billion, as the firm's insurance underwriting

(00:22):
profit more than tripled in a period marked by unusually
low disaster activity. This according to filings published Saturday, Despite
its growing cashboard, the firm's net investment income declined thirteen
percent to three point two billion, amid lower short term
interest rates. The White House has announced that China will
effectively suspend implementation of additional export controls on rare earth

(00:45):
metals and terminate investigations targeting US companies in the semiconductor
supply chain. The White House issued a fact sheet on
Saturday outlining some details of the trade pact agreed to
earlier this week by President Trump and Chinese Leadader Xijianping
that aimed to ease tensions between the world's largest economies.
Pentagon chief Pete Hegseth called on Southeast Asia to strengthen

(01:09):
cooperation in maritime surveillance, including the use of unmanned technologies,
to counter what he said was worsening aggression by Beijing
in the South China Sea. Speaking during a meeting in
Malaysia with defense ministers from the Association of Southeast Asian
Nations on Saturday, Hegzath urged the block to build a
unified maritime domain awareness network and developed joint capabilities to

(01:33):
respond to threats. The Paris prosecutor said Saturday that two
new suspects were handed preliminary charges for their alleged involvement
to the Crown Jewels heist at the Louver Museum, three
days after they were arrested by police as part of
the sweeping investigation. The prosecutor said a thirty seven year
old suspect was charged with theft by an organized gang

(01:54):
and criminal conspiracy, adding that he was known to authorities
for previous thefts. The other suspect of the thirty eight
year old woman was accused of being an accomplice. They
were both incarcerated and both denied involvement. OPEC members are
leaning towards another small production increase for December ahead of
an online meeting on Sunday. This according to three delegates,

(02:14):
key members of the group, led by Saudi Arabia, are
discussing a hike of about one hundred and thirty seven
barrels a day, matching those made in October and November.
Bloomberg reported earlier in the week that the modest increase
was viewed by delegates as the base case scenario. Wall
Street closes the books on October and it's on to
the trading month of November. We get more in the

(02:35):
markets from Bloomberg's Charlie Pellett.

Speaker 2 (02:37):
For the month of October, the S and P five
hundred and DEX gain two point three percent, notching its
six straight month of advances. Emily Rowland is co chief
Investment Staturgistic Manual Life Investment Management.

Speaker 1 (02:50):
It seems like nothing can stop this market, and you
just don't want to get in the way of it.
It's also a market that's been driven by technicals momentum sentiment.

Speaker 2 (03:00):
Since the April melt down, the S and P five
hundred has soared almost forty percent. This week, the SMP
and Dow were up point seven percent, while Nestak was
up two point two percent in New York. Charlie Pellett
Bloomberg Radio.

Speaker 1 (03:14):
A nonprofit is crowdsourcing emergency funds to keep Snap recipient
from going hungry this month. Bloomberg's Monica Ricks reports.

Speaker 3 (03:21):
Propels teaming up with GiveDirectly and building an emergency cash
fund to help feed high need families who Snap benefits
laps this month. Jimmy chen is Propel's founder and CEO.
He says they've donated a million dollars of their own money.

Speaker 2 (03:34):
Every day that goes by and those Snap benefits don't
arrive is just wing to resolve in more hardship and
more food and securities for those families.

Speaker 3 (03:43):
The Trump administrations plan to free Snap payments has been
halted by federal judges, but the delay means millions will
still be short on grocery bills for a while. Monica
Ricks Bloomberg Radio.

Speaker 1 (03:53):
The government shutdown is delaying work to make it easier
to include private credit in four oh one K plans.
Bloomberg's Nathan Hager reports from Washington.

Speaker 4 (04:02):
Securities and Exchange Commission Chair Paul Atkins was on CNBC
this week. He said his agency and the labor Department
haven't been able to make much progress on the issue
because of staffing furloughs. President Trump signed an executive order
in August directing the Labor Department to reevaluate guidance on
alternative assets in four to one case. The order also
gave the SEC permission to update its rules and guidance

(04:23):
around the retirement plans. In Washington, I'm Nathan Hager Bloomberg Radio.

Speaker 1 (04:28):
That's news when you want it with Bloomberg News Now.
I made Kleggy. This is Bloomberg