October 30, 2025 • 6 mins
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Speaker 1 (00:00):
News when you want it with Bloomberg News Now. I'm
Tom McKenzie.
Speaker 2 (00:05):
And I'm Stephen Carroll.
Speaker 1 (00:06):
The United States and China have largely formalized their framework
deal following a face to face meeting between Presidents She
and Trump in the last few hours. According to Chinese officials,
the country will halt rare Earth export controls for one year,
while the US will suspend controls on subsidiaries that are
at least fifty percent owned by blacklisted companies for the
(00:28):
same period. The United States also announced that it would
immediately cut China's fentanyl related tariff to ten percent. Donald
Trump said the move brings the average US levy on
most Chinese goods down from fifty seven percent to forty
seven percent. Speaking on board Air Force one after the meeting,
the US president describes his talks with She as outstanding.
Speaker 3 (00:49):
I thought it was an amazing meeting. He's a great leader,
great leader of a very powerful, very straw country, China,
and we what can I say, we have who was
an outstanding group of decisions.
Speaker 1 (01:09):
I think that was made.
Speaker 3 (01:10):
A lot of decisions were made to the job, much
left out there, and we've come to conclusion are many
very important points.
Speaker 1 (01:20):
Trump's comments were followed by Chi Jinping, who said that
China would now cooperate with the US on trade. The
US president said that he rated the meeting a twelve
out of ten, and that he planned to travel to
China next April, with she due to visit the US
later in twenty twenty six.
Speaker 2 (01:38):
After his meeting with China She, Trump also told reporters
the leaders discussed artificial intelligence semiconductors.
Speaker 4 (01:45):
We did discuss chips, and he's going to be They're
going to be talking to Navidia and others about jaking
chips if we make great jeps, and Navidia is the leader,
and I'll be speaking to Jensen from Navidia, but they're
going to be discussing that with Navidia to see whether
or not they can do. I said, that's early between
(02:06):
you and the video, but we're sort of the arportrator
of the referee.
Speaker 2 (02:12):
However, the US president made clear that he was not
open to giving Beijing access to Nvidia's most advanced Blackwell processors.
The comments come less than twenty four hours after in
vidia each day historic five trillion dollar market capitalization. The
mastel comes only four months after the company passed the
four trillion dollar mark, and coincides with reports from Reuters
that open Ai is preparing to go public as soon
(02:33):
as next year. The world's most valuable startup is said
to be targeting evaluation of one trillion dollars.
Speaker 1 (02:40):
Some of the world's biggest tech companies meanwhile reported strong earnings,
but investors are instead focusing on their spending on AI.
Revenues at Alphabet, Microsoft, and Meta all beat estimates in
the last quarter. Together, the three firms ranked up some
seventy eight billion dollars in capital expenditure's last quarter, up
eighty nine from a year earlier. Meta also warned that
(03:03):
spending in twenty twenty six would be quite notably larger
than this year. Speaking on the investicle, Mark Zuckerberg sought
to make the case for the investment.
Speaker 5 (03:13):
To date, we keep on seeing this pattern where we
build some amount of infrastructure to what we think is
an aggressive assumption, and then we keep on having more
demand to be able to use more compute, especially in
the core business, in ways that we think would be
quite profitable than we end up having compute for So
(03:33):
I think that that suggests that being able to make
a significantly larger investment here is very likely to be
a profitable thing over over some period.
Speaker 1 (03:45):
Despite those words from Mark Zuckerberg meant To shares declined
by over seven percent in after hours trading. Microsoft shares
fell four percent in extended trading, as the software giant
warned it's still suffering from a computing capacity crunt. Shares
in alphabet with a bright Spot up seven percent postmarket.
Speaker 2 (04:04):
The advertising giant WPP has cut its revenue growth guidance
for the year and says it's now overhauling its structure
to become more efficient. Sales excluding pass through casts are
expected to fall bay up to six percent in twenty
twenty five. That's a reduction from the three to five
percent decrease previously predicted by the company. The agency's new CEO,
Sindy rows Out of the firm now needs to simplify
(04:24):
its offer to clients, push harder into new technology, and
reduce cost. WPP shares down almost seven percent in London.
Speaker 1 (04:32):
France's economy has grown by more than double the rate
anticipated by Anlist's third quarter output in the euro Area's
second largest economy rows half of a percent. That's up
from zero point three percent in the previous three months.
France's strong numbers come despite acute uncertainty gripping the country.
As Prime Minister Sebastin, you look on new struggles to
stabilize the budget and avoid being ousted by a divided
(04:56):
National Assembly like his two predecessors.
Speaker 2 (04:59):
In the Netherlands, the Progressive Democrats sixty six party appears
to be the big winner from the Dutch parliamentary election
after voters delta blow to Heired Fielder's far out Freedom Party.
According to the preliminary forecasts based on an incomplete vote count,
d sixty six is projected to win around twenty six
seats in the one hundred and fifty House of Representatives,
(05:20):
with the Freedom Party poised to come in with a
similar tally. That would be a loss of over ten
seats for the Freedom Party. The result would put the
Democrats sixty six leader Rabietan in a position to form
a coalition government to potentially become the country's next prime minister.
Speaker 1 (05:36):
Those are your top stories. Let's check in then, briefly
on the markets. The European stocks six hundred the benchmark
here is currently down two tenths of a percent. The
foot two one hundred here in the UK is also lower,
falling four tens percent, down forty one points at nine
seven hundred and thirteen, and on Wall Street smp E
meanies are currently flat. US futures showing no significant moves
(05:59):
right now and as DAK one hundred futures also looking
for the next Cantilus flat.
Speaker 2 (06:04):
That's news when you want it with Bloomberg News Now.
Speaker 1 (06:07):
I'm Stephen Carroll, I'm Tom McKenzie, and this is Bloomberg
News when you want it with Bloomberg News Now. I'm
Tom McKenzie.
Speaker 2 (00:05):
And I'm Stephen Carroll.
Speaker 1 (00:06):
The United States and China have largely formalized their framework
deal following a face to face meeting between Presidents She
and Trump in the last few hours. According to Chinese officials,
the country will halt rare Earth export controls for one year,
while the US will suspend controls on subsidiaries that are
at least fifty percent owned by blacklisted companies for the
(00:28):
same period. The United States also announced that it would
immediately cut China's fentanyl related tariff to ten percent. Donald
Trump said the move brings the average US levy on
most Chinese goods down from fifty seven percent to forty
seven percent. Speaking on board Air Force one after the meeting,
the US president describes his talks with She as outstanding.
Speaker 3 (00:49):
I thought it was an amazing meeting. He's a great leader,
great leader of a very powerful, very straw country, China,
and we what can I say, we have who was
an outstanding group of decisions.
Speaker 1 (01:09):
I think that was made.
Speaker 3 (01:10):
A lot of decisions were made to the job, much
left out there, and we've come to conclusion are many
very important points.
Speaker 1 (01:20):
Trump's comments were followed by Chi Jinping, who said that
China would now cooperate with the US on trade. The
US president said that he rated the meeting a twelve
out of ten, and that he planned to travel to
China next April, with she due to visit the US
later in twenty twenty six.
Speaker 2 (01:38):
After his meeting with China She, Trump also told reporters
the leaders discussed artificial intelligence semiconductors.
Speaker 4 (01:45):
We did discuss chips, and he's going to be They're
going to be talking to Navidia and others about jaking
chips if we make great jeps, and Navidia is the leader,
and I'll be speaking to Jensen from Navidia, but they're
going to be discussing that with Navidia to see whether
or not they can do. I said, that's early between
(02:06):
you and the video, but we're sort of the arportrator
of the referee.
Speaker 2 (02:12):
However, the US president made clear that he was not
open to giving Beijing access to Nvidia's most advanced Blackwell processors.
The comments come less than twenty four hours after in
vidia each day historic five trillion dollar market capitalization. The
mastel comes only four months after the company passed the
four trillion dollar mark, and coincides with reports from Reuters
that open Ai is preparing to go public as soon
(02:33):
as next year. The world's most valuable startup is said
to be targeting evaluation of one trillion dollars.
Speaker 1 (02:40):
Some of the world's biggest tech companies meanwhile reported strong earnings,
but investors are instead focusing on their spending on AI.
Revenues at Alphabet, Microsoft, and Meta all beat estimates in
the last quarter. Together, the three firms ranked up some
seventy eight billion dollars in capital expenditure's last quarter, up
eighty nine from a year earlier. Meta also warned that
(03:03):
spending in twenty twenty six would be quite notably larger
than this year. Speaking on the investicle, Mark Zuckerberg sought
to make the case for the investment.
Speaker 5 (03:13):
To date, we keep on seeing this pattern where we
build some amount of infrastructure to what we think is
an aggressive assumption, and then we keep on having more
demand to be able to use more compute, especially in
the core business, in ways that we think would be
quite profitable than we end up having compute for So
(03:33):
I think that that suggests that being able to make
a significantly larger investment here is very likely to be
a profitable thing over over some period.
Speaker 1 (03:45):
Despite those words from Mark Zuckerberg meant To shares declined
by over seven percent in after hours trading. Microsoft shares
fell four percent in extended trading, as the software giant
warned it's still suffering from a computing capacity crunt. Shares
in alphabet with a bright Spot up seven percent postmarket.
Speaker 2 (04:04):
The advertising giant WPP has cut its revenue growth guidance
for the year and says it's now overhauling its structure
to become more efficient. Sales excluding pass through casts are
expected to fall bay up to six percent in twenty
twenty five. That's a reduction from the three to five
percent decrease previously predicted by the company. The agency's new CEO,
Sindy rows Out of the firm now needs to simplify
(04:24):
its offer to clients, push harder into new technology, and
reduce cost. WPP shares down almost seven percent in London.
Speaker 1 (04:32):
France's economy has grown by more than double the rate
anticipated by Anlist's third quarter output in the euro Area's
second largest economy rows half of a percent. That's up
from zero point three percent in the previous three months.
France's strong numbers come despite acute uncertainty gripping the country.
As Prime Minister Sebastin, you look on new struggles to
stabilize the budget and avoid being ousted by a divided
(04:56):
National Assembly like his two predecessors.
Speaker 2 (04:59):
In the Netherlands, the Progressive Democrats sixty six party appears
to be the big winner from the Dutch parliamentary election
after voters delta blow to Heired Fielder's far out Freedom Party.
According to the preliminary forecasts based on an incomplete vote count,
d sixty six is projected to win around twenty six
seats in the one hundred and fifty House of Representatives,
(05:20):
with the Freedom Party poised to come in with a
similar tally. That would be a loss of over ten
seats for the Freedom Party. The result would put the
Democrats sixty six leader Rabietan in a position to form
a coalition government to potentially become the country's next prime minister.
Speaker 1 (05:36):
Those are your top stories. Let's check in then, briefly
on the markets. The European stocks six hundred the benchmark
here is currently down two tenths of a percent. The
foot two one hundred here in the UK is also lower,
falling four tens percent, down forty one points at nine
seven hundred and thirteen, and on Wall Street smp E
meanies are currently flat. US futures showing no significant moves
(05:59):
right now and as DAK one hundred futures also looking
for the next Cantilus flat.
Speaker 2 (06:04):
That's news when you want it with Bloomberg News Now.
Speaker 1 (06:07):
I'm Stephen Carroll, I'm Tom McKenzie, and this is Bloomberg
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