November 4th, 2025: Mamdani wins NYC, Sherrill wins NJ, Spanberger wins VA, Deadly UPS Plane Crash

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Episode Transcript

Speaker 1 (00:01):
News when you want it with Bloomberg News Now, I'm
ad Kelengy Democrats registered their biggest political victory since their
stinging loss to Donald Trump a year ago with a
series of winds Tuesday night in Virginia, New Jersey, and
New York, as the party coalesced around a message of
economic affordability and voters delivered a repudiation of the president.

(00:22):
Mikey Cheryl in New Jersey and Abigail Spanburger in Virginia
both campaigned for governor on pocketbook issues, lowering costs, expanding childcare,
and restoring stability after months of economic turbulence and a
government shutdown that stretched past five weeks. Here's Mikey Cheryl
speaking in East Brunswick, New Jersey.

Speaker 2 (00:41):
Serving you is worth any tough fight I have to
take on, and I am incredibly honored to be your
next governor.

Speaker 1 (00:50):
And Governor elect Abigail Spanberger speaking at her headquarters in Virginia,
we sent.

Speaker 2 (00:55):
A message to the whole world that in twenty twenty five,
Virginia chose pragmatism over partisanship.

Speaker 1 (01:06):
In New York cities are on. Mom Donnie, a progressive
Democrat who ran an insurgent campaign for mayor. One Tuesday
after emphasizing the same message on the cost of living,
tackling housing costs and widening inequality in the nation's financial capital,
Mam Donnie spoke to supporters in Brooklyn.

Speaker 3 (01:23):
New York, tonight. You have delivered, AMANDU for change, for
a new kind of politics, for a city we can afford,

(01:43):
for a government that delivers exactly that.

Speaker 1 (01:46):
Mam Donnie defeated Independent Andrew Cuomo and Republican Curtis Sliwa.
And we should note that Michael Bloomberg, founder and majority
owner in Bloomberg LP, the parent company of Bloomberg Radio
and Television, has endorsed Andrew Cuomo for mayor and donated
to a super pac supporting his campaign. All three races
were called soon after the polls closed, suggesting comfortable margins

(02:07):
for all three Democrats in a rejection of Trump's policies.
Democrats also won competitive down ballot races in Pennsylvania, where
three Supreme Court justices won retention elections, and in Georgia,
where two Democrats won seats on the state Utility Commission
by campaigning on energy costs. California voters approved a ballot
measure intended to shift as many as five congressional seats

(02:29):
to Democrats from Republicans, handing Governor Gavin Newsom a major
political victory in his fight against President Trump. A UPS
cargo plane crashed and exploded in a massive fireball Tuesday
while taking off of the company's global aviation hub in Louisville, Kentucky,
killing at least seven people and injuring eleven. The plane

(02:50):
crashed about five fifteen pm local time as it was
departing for Honolulu from UPS Worldport at Louisville Muhammad Ali
International Airport. Video show flames on the plane's left wing
and a trail of smoke. The plane then lifted slightly
off the ground before crashing and exploding in a huge fireball.
Video also revealed portions of a building's shredded roof next

(03:12):
to the end of the roadway. Kentucky Governor Andy Basher.

Speaker 4 (03:15):
Anybody who has seen the images in the video know
how violent this crash is, and there are a lot
of families that are going to be waiting and wondering
for a period of time.

Speaker 1 (03:28):
The Trump administration will comply with a court order by
providing partial food assistance benefits, an apparent walk back of
President Trump's threat to deny aid to low income Americans
until the government reopens. Here's White House Press Secretary Caroline Levin.

Speaker 5 (03:42):
The administration is fully complying with the court order. I
just spoke to the President about it. The recipients of
the ESTAFF benefits need to understand it's going to take
some time to receive this money.

Speaker 1 (03:52):
Earlier, Trump posted on social media that Supplemental Nutrition Assistance
Program money will be given only when the radical left
Democrats open up government, which they can easily do, and
not before. Such a move would run the risk of
defying a court order that directed the administration to resume funding.
Levitt reaffirmed the process will take time.

Speaker 5 (04:11):
The Department of Agriculture, as for the latest SNAP payment
in the judges order, put out guidance to states today
on how to get that money to the recipients of SNAP,
but it's going to take some time.

Speaker 1 (04:25):
For the past two days, the administration has set in
public statements and court filings that it will at least
partially fund the program this month. After US District Judge
John McConnell's ruling that the agencies should tap emergency funds
to pay for food stamps. Meanwhile, a punch Bowl News
reporter says on x all Republican senators have been invited
to the White House for a breakfast with President Trump

(04:46):
on Wednesday. Apple is preparing to enter the low cost
laptop market for the first time, developing a budget Mac
aim at luring away customers from Chromebooks and entry level
Windows PCs. The new device, designed for stif students, businesses,
and casual users, will target people who primarily browse the web,
work on documents, or conduct light media editing. This according

(05:08):
to people familiar with the matter, Apple is also targeting
would be iPad buyers who might prefer a traditional laptop
experience instead. Code named J seven hundred, the machine is
currently in active testing in Apple and in early production
with overseas suppliers. The Tuesday numbers on Wall Street the
downdrop two fifty one, NASDAK lost four to fifty six.
That's just over two percent. The S and P lost eighty.

(05:30):
The ten year Treasurer yield four point zero eight percent,
the two year three point five seven percent. That's news
when you want it. With Bloomberg News. Now I'm in Kleggi,
This is Bloomberg,