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Speaker 1: Moves. Would you want it with Bloomberg News now, I'm

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Speaker 1: Denise Pellegrini. Berkshire Hathaway's second quarter operating earnings rising to

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Speaker 1: eleven point six billion dollars in the second quarter, up

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Speaker 1: from ten billion from the same period a year ago.

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Speaker 1: But it's really Berkshire's cash pile that everybody's looking at,

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Speaker 1: because it reached a record two hundred and seventy six

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Speaker 1: point nine billion dollars in the quarter, as billionaire Warren

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Speaker 1: Buffett slashed Berkshire's Apple steak by almost fifty percent and

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Speaker 1: continued to hold off on other acquisition. Bloomberg's Amanda Knschell

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Speaker 1: calls it an indicator Buffett maybe thinking he can get

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Speaker 1: better deals if he waits this move.

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Speaker 2: You know, maybe should not be interpreted as a loss

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Speaker 2: of confidence in Apple per se, but it does point

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Speaker 2: to a broader pattern that we saw this quarter. In

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Speaker 2: his approach to the stock market, he sold on a

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Speaker 2: net basis in the second quarter, nearly seventy six billion

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Speaker 2: dollars worth of stock.

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Speaker 1: Mburgs Amanda Cantrell reporting, you know, Berkshire and All sold

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Speaker 1: seventy five and a half billion dollars worth of stock

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Speaker 1: during the second quarter on a net basis. Regulatory filings

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Speaker 1: also indicate Berkshire trimmed at steak in Bank of America

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Speaker 1: in the quarter, a company reporting a forty one point

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Speaker 1: one billion dollars steak there rising expectations Iran and or

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Speaker 1: Iran backed Hesbela may attack Israel, US or allied interests

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Speaker 1: after assassinations of Hesbelan Hamas leaders this week. The US

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Speaker 1: telling nationals wishing to depart Lebanon they should leave on

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Speaker 1: any available ticket, and the UK is urging British nationals

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Speaker 1: in Lebanon to leave. The Pentagon, moving a fighter jet

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Speaker 1: squadron to the Middle East and maintaining an aircraft carrier

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Speaker 1: in the region ahead of a possible retaliatory strike by

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Speaker 1: Iran or Hesbilah after assassinations against Hamas and Hesbela officials

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Speaker 1: this week. Meantime, Israeli truce hostage negotiators are in Cairo

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Speaker 1: for a new round of talks over a possible deal

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Speaker 1: with Hamas. In Gaza, stock doing damage assessments after yesterday's

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Speaker 1: massive stock sell off, especially with the Nasdaq plunging into correction.

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Speaker 1: Territory weaker than expected July jobs report helping trigger that

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Speaker 1: sell off along with some downbeat tech headlines. John Coleman,

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Speaker 1: Professor of the Duke School of Business, the.

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Speaker 3: Pattern that I see is a gradual rise in the

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Speaker 3: unemployment rate over the past roughly a year, so this

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Speaker 3: is not just a one month blip.

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Speaker 1: Coleman is professor of the Duke School of Business. Meantime,

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Speaker 1: growing number of bank economists are boosting their forecast for

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Speaker 1: FED rake cuts this year. City at JP Morgan both

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Speaker 1: now forecasting a half point rate cut in September from

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Speaker 1: the Fed and again in November. Vice President Kamala Harris

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Speaker 1: interviewing potential running mates this weekend for the presidential race,

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Speaker 1: AP says Governors Andy Basher of Kentucky, JB. Pritzker of Illinois,

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Speaker 1: Josh Shapiro of Pennsylvania, and Tim Walls of Minnesota, and

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Speaker 1: also Senator Mark Kennedy of Arizona and Transportation Secretary Pete

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Speaker 1: Buddha Judge are on her interview list. You know, it's

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Speaker 1: not just the athletes going for gold in Paris, Sower

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Speaker 1: Wall Street elites. Bloomberg's Nathan Hager reports.

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Speaker 4: It's a bit like Davos with some Olympic events in between.

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Speaker 4: That's how JP Morgan's Mary Urdos describes the vibe in Paris.

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Speaker 4: She's there for the Games and the business, with NonStop

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Speaker 4: client meetings and unexpected run ins with other leaders. Some

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Speaker 4: other big names spotted at the Games include Blackstone, Stephen Schwartzman,

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Speaker 4: Galaxy Digitals, Mike Novograts, ECB president, Christine Legard, Delta CEO,

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Speaker 4: Ed Bastion, Bill Gates, Elon Musk, I could go on

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Speaker 4: Nathan Hager Bloomberg Radio, all right, thank you, Nathan.

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Speaker 1: And at the Paris Games today, Simone Biles soaring to

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Speaker 1: a third cold in the vault, this time around, earning

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Speaker 1: her seventh Olympic gold medal. Soaring to that victory in

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Speaker 1: the women's vault final at the Paris Games today, averaging

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Speaker 1: fifteen point three O O for her signature Yuchenko double

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Speaker 1: pike and Cheng vaults to claim a second gold on

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Speaker 1: the event, eight years after she triumphed in Rio de Janeiro.

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Speaker 1: Biles is the second woman to win the vault twice.

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Speaker 1: And that's NEOs when you want it with Bloomberg News. Now,

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Speaker 1: I'm Denise Pellegrini and this is Bloomberg