October 23, 2025 • 5 mins
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Speaker 1 (00:00):
News when you want it with Bloomberg News Now. I'm
Dan Schwartzman. President Trump and Chinese President Shi Jimping will
meet next week on the sidelines of the Asia Pacific
Economic Cooperation Summit in South Korea. As according to the
White House, the meeting will be the first face to
face for both leaders since Trump became president for his
second term. Here's President Trump.
Speaker 2 (00:21):
Actually, on November first, the tariffun China goes to one
hundred and fifty seven percent, which is record setting territory.
And we don't want that because it's not sustainable for them.
They can't sustain that. We don't want them to have
to go through that. So a meeting with President Shean,
I would say the first we have some big issues
(00:42):
like with the farmers and various other things. But the
first question I'm going to be asking him about is
fent and all.
Speaker 1 (00:48):
The meeting comes as a trade truce between Washington and
Beijing is set to expire on November tenth. President Trump
escalating trade talk tensions with Canada. On a post on
truth Social Trump said that all trade negotiations have now
been terminated. Trump cited an announcement from the Ronald Reagan Foundation,
which announced that quote, Canada has fraudulently used an advertisement
(01:09):
which is fake featuring Ronald Reagan speaking negatively about tariffs.
They continued on to say that quote they only did
this to interfere with the decision of the US Supreme
Court and other courts. Ford Motor expects a profit hit
of as much as two billion dollars after a fire
struck a key supply of aluminum back in September for
its F one to fifty pickup truck. The impact will
(01:29):
reduce Ford's production by around one hundred thousand vehicles this year,
although the company expects to largely recover that shortfall next year.
Here's Jim Farley, CEO Ford.
Speaker 3 (01:38):
This is really a retiming of wholesale. What we lose
this year will gain most of it back next year.
Maybe a billion and a half to two and a
half billion of ebit this year a little bit heavier
on the cash because of how auto works, but we'll
be gaining at least a billion, if not more, of
that back next year.
Speaker 1 (01:59):
That's Jim Farley's Ford speaking of Bloomberg. Intel gave an
up the revenue forecast after personal computer demand grew boosting
optimism about a comeback attempt by the Embattle chip maker.
In a statement, chief financial officer Dave's Listener said, quote,
current demand is outpacing supply, a trend they expect will
persistence the next year. We get reaction from Angelo Zeno,
(02:19):
equity analyst at cfr A Research.
Speaker 4 (02:22):
Overall, the results were a bit better than expected in
terms of Q three. I think, you know, more importantly
was that Q four God. And you know, when you
strip out the fact that they are getting rid of
or have you sold Altera at this point in time,
you back that out and essentially is in line to
relatively where we were looking and the street was looking at.
So I think overall, you know, there was maybe some
(02:44):
fear about you know, tariff uncertainties as well as you know,
potential pulland and demand for PCs and what have you.
But overall, the Q three numbers look good. The Q
four numbers also look solid.
Speaker 1 (02:56):
That's Angelo Zeno of cfr A Research. The United the
States has launched a ninth strike against allegedble carrying drugs
in the Pacific Ocean. President Trump says he doesn't believe
that the administration needs a formal declaration of war in
their campaign against drug trafficking in South America, but they
will brief Congress on the strikes.
Speaker 2 (03:14):
I think we're just going to kill people that are
bringing drugs into our country. Okay, we're going to kill them.
You know, they're going to be like dead. Okay.
Speaker 1 (03:23):
Meantime to send It is expected to vote next week
on a bipartisan resolution that would bar the United States
from engaging in hostilities inside Venezuela without explicit authorization by Congress.
The US government shutdown is now twenty three days long,
encounting lawmakers are not getting any closer to getting legislation
passed that would fund the government to reopen it. Democrats
(03:44):
are insisting that they want to open up discussions on
extending tax credits that are part of the Affordable Care Act,
but Republicans aren't willing to talk until the government reopens.
House Minoriti leader Hakim Jeffrey says President Trump's priorities are misplaced.
Speaker 5 (03:58):
Throughout this shutdown. He's found more time to golf than
he has to engage with Democrats on Capitol Hill. Donald
Trump and his administration have found forty billion dollars to
bail out a right wing want to be dictator and
Argentina and can't find a dime to extend the Affordable
Care Act tax credits to keep healthcare affordable. And on
(04:20):
top of all of that, they are demolishing the East
wing of the White House in ways that have appropriately
horrified the American people.
Speaker 1 (04:31):
That's House Minority Leader Hakim Jeffrey speaking with Bloomberg's David
Gura in Washington. Catch a full conversation on an upcoming
episode of The Big Take podcast. Meantime, the Senate rejected
a measure that would have paid some federal workers during
the shutdown, a day before more than a million workers
are set to miss a paycheck. The US Labor Department
has called furloughed employees back to work, though, to put
(04:51):
together the Consumer Price Index Report. Bloomberg TV's Mike Mickey
explains what September's numbers out tomorrow could show social Security.
Speaker 6 (05:00):
This is a third quarter CPI average to determine next
year's cost of living increase for beneficiaries, which by law
must be published this month. The data had all been
collected by the time the government shut down on October first,
so it's simply a matter of collating it and making
the usual seasonal adjustments. Analysts expect we'll see no appreciable
(05:21):
slow down from August, with headline CPI rising four tenths
of percent during the month and core three tenths. That
would put the annual rate of inflation at three point
one percent for both, Another move in the wrong direction
for the Fed. Michael McKee Bloomberg
Speaker 1 (05:36):
News and that's news when you want it with Bloomberg
News now on Dan Schwartzman and this is Bloomberg
News when you want it with Bloomberg News Now. I'm
Dan Schwartzman. President Trump and Chinese President Shi Jimping will
meet next week on the sidelines of the Asia Pacific
Economic Cooperation Summit in South Korea. As according to the
White House, the meeting will be the first face to
face for both leaders since Trump became president for his
second term. Here's President Trump.
Speaker 2 (00:21):
Actually, on November first, the tariffun China goes to one
hundred and fifty seven percent, which is record setting territory.
And we don't want that because it's not sustainable for them.
They can't sustain that. We don't want them to have
to go through that. So a meeting with President Shean,
I would say the first we have some big issues
(00:42):
like with the farmers and various other things. But the
first question I'm going to be asking him about is
fent and all.
Speaker 1 (00:48):
The meeting comes as a trade truce between Washington and
Beijing is set to expire on November tenth. President Trump
escalating trade talk tensions with Canada. On a post on
truth Social Trump said that all trade negotiations have now
been terminated. Trump cited an announcement from the Ronald Reagan Foundation,
which announced that quote, Canada has fraudulently used an advertisement
(01:09):
which is fake featuring Ronald Reagan speaking negatively about tariffs.
They continued on to say that quote they only did
this to interfere with the decision of the US Supreme
Court and other courts. Ford Motor expects a profit hit
of as much as two billion dollars after a fire
struck a key supply of aluminum back in September for
its F one to fifty pickup truck. The impact will
(01:29):
reduce Ford's production by around one hundred thousand vehicles this year,
although the company expects to largely recover that shortfall next year.
Here's Jim Farley, CEO Ford.
Speaker 3 (01:38):
This is really a retiming of wholesale. What we lose
this year will gain most of it back next year.
Maybe a billion and a half to two and a
half billion of ebit this year a little bit heavier
on the cash because of how auto works, but we'll
be gaining at least a billion, if not more, of
that back next year.
Speaker 1 (01:59):
That's Jim Farley's Ford speaking of Bloomberg. Intel gave an
up the revenue forecast after personal computer demand grew boosting
optimism about a comeback attempt by the Embattle chip maker.
In a statement, chief financial officer Dave's Listener said, quote,
current demand is outpacing supply, a trend they expect will
persistence the next year. We get reaction from Angelo Zeno,
(02:19):
equity analyst at cfr A Research.
Speaker 4 (02:22):
Overall, the results were a bit better than expected in
terms of Q three. I think, you know, more importantly
was that Q four God. And you know, when you
strip out the fact that they are getting rid of
or have you sold Altera at this point in time,
you back that out and essentially is in line to
relatively where we were looking and the street was looking at.
So I think overall, you know, there was maybe some
(02:44):
fear about you know, tariff uncertainties as well as you know,
potential pulland and demand for PCs and what have you.
But overall, the Q three numbers look good. The Q
four numbers also look solid.
Speaker 1 (02:56):
That's Angelo Zeno of cfr A Research. The United the
States has launched a ninth strike against allegedble carrying drugs
in the Pacific Ocean. President Trump says he doesn't believe
that the administration needs a formal declaration of war in
their campaign against drug trafficking in South America, but they
will brief Congress on the strikes.
Speaker 2 (03:14):
I think we're just going to kill people that are
bringing drugs into our country. Okay, we're going to kill them.
You know, they're going to be like dead. Okay.
Speaker 1 (03:23):
Meantime to send It is expected to vote next week
on a bipartisan resolution that would bar the United States
from engaging in hostilities inside Venezuela without explicit authorization by Congress.
The US government shutdown is now twenty three days long,
encounting lawmakers are not getting any closer to getting legislation
passed that would fund the government to reopen it. Democrats
(03:44):
are insisting that they want to open up discussions on
extending tax credits that are part of the Affordable Care Act,
but Republicans aren't willing to talk until the government reopens.
House Minoriti leader Hakim Jeffrey says President Trump's priorities are misplaced.
Speaker 5 (03:58):
Throughout this shutdown. He's found more time to golf than
he has to engage with Democrats on Capitol Hill. Donald
Trump and his administration have found forty billion dollars to
bail out a right wing want to be dictator and
Argentina and can't find a dime to extend the Affordable
Care Act tax credits to keep healthcare affordable. And on
(04:20):
top of all of that, they are demolishing the East
wing of the White House in ways that have appropriately
horrified the American people.
Speaker 1 (04:31):
That's House Minority Leader Hakim Jeffrey speaking with Bloomberg's David
Gura in Washington. Catch a full conversation on an upcoming
episode of The Big Take podcast. Meantime, the Senate rejected
a measure that would have paid some federal workers during
the shutdown, a day before more than a million workers
are set to miss a paycheck. The US Labor Department
has called furloughed employees back to work, though, to put
(04:51):
together the Consumer Price Index Report. Bloomberg TV's Mike Mickey
explains what September's numbers out tomorrow could show social Security.
Speaker 6 (05:00):
This is a third quarter CPI average to determine next
year's cost of living increase for beneficiaries, which by law
must be published this month. The data had all been
collected by the time the government shut down on October first,
so it's simply a matter of collating it and making
the usual seasonal adjustments. Analysts expect we'll see no appreciable
(05:21):
slow down from August, with headline CPI rising four tenths
of percent during the month and core three tenths. That
would put the annual rate of inflation at three point
one percent for both, Another move in the wrong direction
for the Fed. Michael McKee Bloomberg
Speaker 1 (05:36):
News and that's news when you want it with Bloomberg
News now on Dan Schwartzman and this is Bloomberg
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