November 18, 2025: Senate Agrees to Pass Epstein Files Bill, Trump on Saudi Agreement, More

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Episode Transcript

Speaker 1 (00:01):
News when you want it with Bloomberg News Now, I'm
Doug Chrisner. Congress has voted to compel the Department of
Justice to release its files on sex trafficker Jeffrey Epstein.
This legislation passed the House four twenty seven to one,
and now the Senate has unanimously passed it without further action.
Senate Minority Leader Chuck Schumer says the American people and

(00:23):
Epstein's survivors have waited long enough.

Speaker 2 (00:26):
This is about holding accountable all the people in Jeffrey
Epstein's circle who raped, groom, targeted, and enabled the abuse
of hundreds of girls for years and years.

Speaker 1 (00:38):
That is Senate Minority Leader Chuck Schumer there Now. President
Trump has said he will sign the legislation after initially
opposing the release of the files. It requires the release
of all files and records related to Epstein. That would
include investigations, flight logs, and internal DOJ documents. Earlier today,
at the White House, President Trump hosted Saudi Crown Prince

(01:00):
Mohammed bin Salmon. It was there the Prince said his
country would be increasing its financial commitments to the US
from six hundred billion dollars to one trillion dollars, and
later in the day, Trump said he has signed the
U S. Saudi Strategic Defense Agreement.

Speaker 3 (01:16):
I'm pleased to announce that we are taking our military
cooperation to even greater heights by formerly designating Saudi Arabia
as a major non NATO ally.

Speaker 1 (01:27):
Now that designation does open the door for further collaboration
between Saudi Arabia and the US military. President Trump has
reportedly signed off on possible operations inside Venezuela. The New
York Times reports Trump authorized the CIA plans for covert
measures that could be meant to prepare a battlefield for

(01:47):
further action. The Trump administration is taking more steps to
shut down the Department of Education. Officials say some of
the department's largest grant programs and major portions of several
offices will be transferred to other federal agencies. Education Secretary
Linda McMahon tells CBS News she hopes this action will

(02:08):
convince Congress that these steps are necessary.

Speaker 4 (02:11):
If we can do that, then hopefully then we can
get Congress to vote and to codify those transfers and
make it a permanent, permanent mode.

Speaker 1 (02:19):
That is, Education Secretary Linda McMahon speaking earlier to CBS News,
Paramount's guidance is rejecting a report claiming the company is
working with Middle Eastern sovereign wealth funds on an offer
for Warner Brothers Discovery. Paramount calls it categorically inaccurate. Earlier,
Variety reported Paramount Skuydance is working with Saudi Arabia's Public

(02:41):
Investment Fund, along with the Cutter Investment Authority and the
Abu Dhabi Investment Authority on a bid worth seventy one
billion dollars. President Trump said today he thinks he's identified
a choice to be the next chair of the Federal Reserve.
He said people are holding him back from firing the
current chair J Powell. Here is Trump speaking with Bloomberg's

(03:02):
and Marie hor Dern in a Q and A inside
the Oval office.

Speaker 3 (03:06):
We're getting closer to the end of the year.

Speaker 4 (03:08):
Have you started the interviews for the FED chair?

Speaker 3 (03:11):
Yes? Who are you interviewed? I think I already know
my choice. Well, I liked him, but he's not going
to take the job. He reviewed. You like Treasury better, right,
much better? Sir?

Speaker 1 (03:23):
That is Treasury Secretary Scott Bessen, who is incidentally leading
the search now Bessant has said the pool of contenders
has been narrowed to current governors Chris Waller and Michelle Bowman,
along with former Fed Governor Kevin Walsh, also the director
of the White House Council of Economic Advisors, Kevin Hassett,
and Blackrock executive Rick Reader. Before the opening bell tomorrow,

(03:46):
Target is set to release its third quarter results Bloomberg's
tom Busby as a preview.

Speaker 4 (03:51):
Despite a lot of US consumers pulling back on their
spending last quarter, investors will be looking for signs that
heavy promotions, strong back to school demand, and the new
CEO helped the discount retailers snap out of a recent
sales slump. Although Bloomberg consensus calls for comp sales to
fall about two percent. Revenues are expected at twenty five
point three to three billion on adjusted earnings per share

(04:12):
of a dollar seventy three. Tom Busby Bloomberg Radio.

Speaker 1 (04:16):
A Gustav Klempt portrait of a young Viennese woman sold
for a record two hundred and thirty six million dollars
at Sotheby's in New York. The portrait of Elizabeth Letterer
was part of the unwinding of Leonard Lauder's art collection.
The former executive and billionaire died in June at the
age of ninety two. This portrait was part of a

(04:37):
trove the Nazi stole from Elizabeth Letterer's wealthy Jewish family
in Vienna. And that is news when you want it
with Bloomberg News. Now, I'm Doug Prisner, and this is
Bloomberg