October 21, 2025 • 5 mins
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Speaker 1 (00:01):
News when you want it. With Bloomberg News Now, I'm
Dan Schwartzman. We begin with earnings. Shares of Netflix are
down about six percent, and after hours trading, the streaming
giants set a tax dispute with Brazil cut into its
third quarter earnings. With a company posting a quarterly operating
income below its own forecast and analyst estimates, Geeta Raganathon
of Bloomberg Intelligence says, operating margins is how investors look
(00:24):
into Netflix.
Speaker 2 (00:25):
We've seen just a tremendous increase in the way that
they have kind of grown their profits, in the way
that they've expanded their margins. It was up over six
hundred basis points last year. We were really expecting them
to actually exceed their guidance for both this quarter as
well as to take up guidance for the full year.
So this kind of really throws cold water and all
of those expectations and overall kind of looks really really underwhelming.
Speaker 1 (00:50):
That's Gita Rakanathon of Bloomberg Intelligence. Warner Brothers Discovery has
begun to consider various deal scenarios after receiving what they
describe as quote unsolicited and from multiple parties for all
or part of the company. Bloomberg News has reported Paramount
Skuyddance has also made several bids for the company, but
they have been rejected for being too low. Here's Bloomberg's Lucashaw.
Speaker 3 (01:11):
You've got one very clear interest in party in Paramount,
and you have a Warner Brothers Discovery wanting to either
get a better offer from them or find someone else
or have more leverage in these conversations, and so they're
basically saying that's it, we're for sale, Come and make
an offer, and they want to get as many people
in the tent as possible so they have as much
leverage as possible.
Speaker 1 (01:30):
That's Bloomberg's Lucas Shaw. Meantime, sources tell Bloomberg Netflix and
Comcast are among the companies interested in Warner Brothers' movie
and TV studios. President Trump predicted an upcoming meeting with
his Chinese counterpart Shijinping would yield a good deal on trade.
The two leaders are scheduled to meet later this month
at the Asia Pacific Economic Cooperation Summit in South Korea. However,
(01:51):
Trump said there is a possibility that the meeting could
fail to materialize.
Speaker 4 (01:55):
So now we're going to have a fair deal, and
I think we're going to have a very successful meeting.
There are a lot of people that are waiting for it.
Maybe it won't happen, Maybe it won't happen. Things can
happen where for instance, maybe somebody will say I don't
want to mate, it's too nasty, But it's really not nasty.
It's just business.
Speaker 1 (02:14):
That's President Trump. Later in the day, Trump said as
of November one, tariffs on China would be at around
one hundred and fifty five percent. Paul in Grassia, the
White House's choice to serve as Special Council, has withdrawn
his nomination after facing resistance in the Senate. In Grassia
was scheduled to have his confirmation hearing this week, but
in Gracia's offensive texts he made to fellow Republicans in
(02:36):
a group chat came to light, with several of them
saying they won't support his nomination. Gold saw it's deepest
sell off in years. This comes as investors locked in profits,
unconcerned that the recent historic rally in the precious metals
left them overvalued. Here's Mike mcloone's senior commodity strategist for
Bloomberg Intelligence.
Speaker 5 (02:54):
Right now, it's just a little bit of profit taking,
but it's what's happening in gold that's very disconcerting. As
of yesterday, it was up sixty six percent in the year.
That put it among the top four the last one
hundred years, with only nineteen seventy nine, seventy three, and
seventy four ahead of it, so it's very expensive. At
the same time, crude oil was down about twenty percent.
(03:15):
That disparity around eighty six percent has never happened. It's
never been that extreme.
Speaker 1 (03:19):
That's Mike mcloon of Bloomberg Intelligence. Silver also saw its
biggest drop since twenty twenty one. European nations are working
with Ukraine on a twelve point proposal den Russia's war
along the current lines. We're told. The proposal inclus a
return of all deported children to Ukraine and exchanges of prisoners,
with the Ukraine receiving security guarantees, funds to repair war damage,
(03:40):
and a pathway to rapidly joining the European Union. A
peace word chaired by President Trump would oversee the implementation
of the proposed plan. Here's Bloomberg's Nick Wadams.
Speaker 6 (03:49):
What you're really seeing is a European effort to essentially
set the terms of a potential Ukraine deal along the
lines of what President Trump had done in Gaza, to
try to mimic that it would offer some form of
security guarantees for Ukraine. But really what this is is
an effort by the Europeans to get involved and say, essentially, Okay,
(04:12):
here's a potential proposal that we could get both sides
to agree to.
Speaker 1 (04:15):
Matt's Bloomberg Nick Wadhams. Separately, plans are on hold for
President Trump to sit down with Russian leader Vladimir Putin
to talk about resolving the war in Ukraine. The meeting
was announced last week and it was supposed to take
place in Budapest, although a date had not been set.
The decision was made following a call between Secretary of
State Marco Rubio and Russian Foreign Minister Sergei Lavrov. We
(04:36):
head to the Middle East next as Vice President jd.
Vance visited Israel to talk about the Gaza seasfire. Israel
A and Haamas earlier in the month agreed to a
truce based on parts of a plan outlined by President Trump. However,
recent fighting in Gaza over the weekend has raised fears
that the accord could fail before it progresses to a
second stage, which involves new governance and reconstruction of Gaza vans.
(04:57):
Though did not give a timeline for when Hamas must disarm,
but he did express optimism that the deal would hold.
The only real mediators are the United States of America.
So that's the role that we're going to play.
Speaker 6 (05:08):
I think the American people should be proud of them,
but they should know that there are going to be
no American boots on the ground in Gaza.
Speaker 1 (05:14):
That's Vice President j D. Vanson Israel. And that's news
when you want it. With Bloomberg News now, I'm Dan Schwartzman,
and this is Bloomberg
News when you want it. With Bloomberg News Now, I'm
Dan Schwartzman. We begin with earnings. Shares of Netflix are
down about six percent, and after hours trading, the streaming
giants set a tax dispute with Brazil cut into its
third quarter earnings. With a company posting a quarterly operating
income below its own forecast and analyst estimates, Geeta Raganathon
of Bloomberg Intelligence says, operating margins is how investors look
(00:24):
into Netflix.
Speaker 2 (00:25):
We've seen just a tremendous increase in the way that
they have kind of grown their profits, in the way
that they've expanded their margins. It was up over six
hundred basis points last year. We were really expecting them
to actually exceed their guidance for both this quarter as
well as to take up guidance for the full year.
So this kind of really throws cold water and all
of those expectations and overall kind of looks really really underwhelming.
Speaker 1 (00:50):
That's Gita Rakanathon of Bloomberg Intelligence. Warner Brothers Discovery has
begun to consider various deal scenarios after receiving what they
describe as quote unsolicited and from multiple parties for all
or part of the company. Bloomberg News has reported Paramount
Skuyddance has also made several bids for the company, but
they have been rejected for being too low. Here's Bloomberg's Lucashaw.
Speaker 3 (01:11):
You've got one very clear interest in party in Paramount,
and you have a Warner Brothers Discovery wanting to either
get a better offer from them or find someone else
or have more leverage in these conversations, and so they're
basically saying that's it, we're for sale, Come and make
an offer, and they want to get as many people
in the tent as possible so they have as much
leverage as possible.
Speaker 1 (01:30):
That's Bloomberg's Lucas Shaw. Meantime, sources tell Bloomberg Netflix and
Comcast are among the companies interested in Warner Brothers' movie
and TV studios. President Trump predicted an upcoming meeting with
his Chinese counterpart Shijinping would yield a good deal on trade.
The two leaders are scheduled to meet later this month
at the Asia Pacific Economic Cooperation Summit in South Korea. However,
(01:51):
Trump said there is a possibility that the meeting could
fail to materialize.
Speaker 4 (01:55):
So now we're going to have a fair deal, and
I think we're going to have a very successful meeting.
There are a lot of people that are waiting for it.
Maybe it won't happen, Maybe it won't happen. Things can
happen where for instance, maybe somebody will say I don't
want to mate, it's too nasty, But it's really not nasty.
It's just business.
Speaker 1 (02:14):
That's President Trump. Later in the day, Trump said as
of November one, tariffs on China would be at around
one hundred and fifty five percent. Paul in Grassia, the
White House's choice to serve as Special Council, has withdrawn
his nomination after facing resistance in the Senate. In Grassia
was scheduled to have his confirmation hearing this week, but
in Gracia's offensive texts he made to fellow Republicans in
(02:36):
a group chat came to light, with several of them
saying they won't support his nomination. Gold saw it's deepest
sell off in years. This comes as investors locked in profits,
unconcerned that the recent historic rally in the precious metals
left them overvalued. Here's Mike mcloone's senior commodity strategist for
Bloomberg Intelligence.
Speaker 5 (02:54):
Right now, it's just a little bit of profit taking,
but it's what's happening in gold that's very disconcerting. As
of yesterday, it was up sixty six percent in the year.
That put it among the top four the last one
hundred years, with only nineteen seventy nine, seventy three, and
seventy four ahead of it, so it's very expensive. At
the same time, crude oil was down about twenty percent.
(03:15):
That disparity around eighty six percent has never happened. It's
never been that extreme.
Speaker 1 (03:19):
That's Mike mcloon of Bloomberg Intelligence. Silver also saw its
biggest drop since twenty twenty one. European nations are working
with Ukraine on a twelve point proposal den Russia's war
along the current lines. We're told. The proposal inclus a
return of all deported children to Ukraine and exchanges of prisoners,
with the Ukraine receiving security guarantees, funds to repair war damage,
(03:40):
and a pathway to rapidly joining the European Union. A
peace word chaired by President Trump would oversee the implementation
of the proposed plan. Here's Bloomberg's Nick Wadams.
Speaker 6 (03:49):
What you're really seeing is a European effort to essentially
set the terms of a potential Ukraine deal along the
lines of what President Trump had done in Gaza, to
try to mimic that it would offer some form of
security guarantees for Ukraine. But really what this is is
an effort by the Europeans to get involved and say, essentially, Okay,
(04:12):
here's a potential proposal that we could get both sides
to agree to.
Speaker 1 (04:15):
Matt's Bloomberg Nick Wadhams. Separately, plans are on hold for
President Trump to sit down with Russian leader Vladimir Putin
to talk about resolving the war in Ukraine. The meeting
was announced last week and it was supposed to take
place in Budapest, although a date had not been set.
The decision was made following a call between Secretary of
State Marco Rubio and Russian Foreign Minister Sergei Lavrov. We
(04:36):
head to the Middle East next as Vice President jd.
Vance visited Israel to talk about the Gaza seasfire. Israel
A and Haamas earlier in the month agreed to a
truce based on parts of a plan outlined by President Trump. However,
recent fighting in Gaza over the weekend has raised fears
that the accord could fail before it progresses to a
second stage, which involves new governance and reconstruction of Gaza vans.
(04:57):
Though did not give a timeline for when Hamas must disarm,
but he did express optimism that the deal would hold.
The only real mediators are the United States of America.
So that's the role that we're going to play.
Speaker 6 (05:08):
I think the American people should be proud of them,
but they should know that there are going to be
no American boots on the ground in Gaza.
Speaker 1 (05:14):
That's Vice President j D. Vanson Israel. And that's news
when you want it. With Bloomberg News now, I'm Dan Schwartzman,
and this is Bloomberg
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