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Speaker 1: News.

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Speaker 2: When you won it with Bloomberg News. Now, I'm Dan Schwartzman.

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Speaker 2: President Trump rejected a Wall Street Journal report that the

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Speaker 2: US had given approval for Ukraine to launch missiles deep

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Speaker 2: into Russian territory. In a post on truth Social Trump

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Speaker 2: said the US has nothing to do with those missiles. Meantime,

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Speaker 2: the US announced sanctions on Russia's biggest oil producers in

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Speaker 2: a statement the Treasury Department saying the move will degrade

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Speaker 2: Russia's ability to raise revenue for its war machine, and

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Speaker 2: they added Moscow must agree to immediate ceasefire with Ukraine.

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Speaker 2: Here's President Trump. Today is a very big day in

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Speaker 2: terms of what we're doing.

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Speaker 3: Look, these are tremendous sanctions. These are very big.

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Speaker 1: Those are against their two big oil companies, and we

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Speaker 1: hope that they won't be on for long.

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Speaker 3: We hope that the war will be settled.

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Speaker 2: Tesla's profit plunged more than expected as sharply rising costs

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Speaker 2: undercut a record quarter of vehicle sales. Adjusted earnings for

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Speaker 2: fifty cents a share that's down thirty one percent from

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Speaker 2: a year ago. A revy of twenty eight point one

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Speaker 2: billion dollars beat expectations Tessa's up. Operating expenses, though sored

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Speaker 2: fifty percent to three point four billion dollars in the quarter,

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Speaker 2: while the company expects around four hundred million dollars of

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Speaker 2: impact from US tariffs now. In an earnings call, Elon

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Speaker 2: Musk pleaded with investors to ratify his one trillion dollar

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Speaker 2: pay package and blasted the shareholder advisory firms that have

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Speaker 2: come out against the plan. Here's Musk as he interrupted

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Speaker 2: his CFO at the tail end of the earnings call.

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Speaker 3: Yeah, at the point is I just like that there

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Speaker 3: needs to be enough voting control to give a strong influence,

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Speaker 3: but not so much that I can't be fired if

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Speaker 3: I go insane.

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Speaker 2: That's Elon Musk, CEO of Tesla, speaking there. IBM reported

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Speaker 2: disappointing revenue in its closely watched red Hat unit, sparking

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Speaker 2: concerns among investors. The company's third quarter sales in the

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Speaker 2: hybrid cloud unit that includes red Hat increased fourteen percent,

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Speaker 2: a slowdown from the previous period and below analyst's average

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Speaker 2: estimate of sixteen percent. While revenue decelerated, IBM says that

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Speaker 2: they still feel very good about the growth opportunities in

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Speaker 2: red Hat. Overall, the Trump administration is weighing a support

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Speaker 2: restrictions against China that would bar the purchase of a

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Speaker 2: wide swath of critical software. Philip drury Cio of Poolside

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Speaker 2: says the Trump administration will reward companies that invest in

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Speaker 2: the US.

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Speaker 1: You know, as long as US companies stay grounded in

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Speaker 1: terms of making investments close to at home, then you know,

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Speaker 1: I think ultimately relation to China is such an important economy.

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Speaker 1: You know, I'm certainly hopeful that you know, diplomacy on

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Speaker 1: equitable grounds will ultimately win through.

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Speaker 2: That's Philip drewy Cio of Poolside, speaking to Bloomberg. The

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Speaker 2: US said the move is in retaliation for China's announced

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Speaker 2: restrictions on the flow of critical rarest minerals needed to

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Speaker 2: make numerous consumer products. US Trade Representative Jamison Greer says

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Speaker 2: he and Treasury Secretary Scott Bessont are headed to Malaysia

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Speaker 2: for talks with Chinese officials ahead of a possible meeting

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Speaker 2: between President Trump and Hijinping. The two leaders are expected

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Speaker 2: to meet at the APEX summit in South Korea, though

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Speaker 2: specific day and time have yet to be announced.

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Speaker 3: There's a spot for it on the schedule if it happens. Obviously,

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Speaker 3: it's a mutual decision. It's to where their president. She

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Speaker 3: and President Trump meet together. Obviously, I think it makes

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Speaker 3: sense to talk, especially at a time where there are

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Speaker 3: a lot of measures in place by the Chinese. But

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Speaker 3: we'll see.

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Speaker 2: Trade Representative Jamison Greer telling CNBC China's recent announcement on

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Speaker 2: rare earth export controls was aggressive, but he says there's

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Speaker 2: a good landing zone for trade between the US and China.

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Speaker 2: The government shutdown is now officially the second longest in history.

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Speaker 2: The shutdown's economic disruption will deepen as civilian federal workers

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Speaker 2: are set to miss their first full paycheck this Friday.

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Speaker 2: But on November one, funding shortfalls and deadlines for healthcare,

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Speaker 2: military pay, and nutrition benefits will collide, potentially creating new

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Speaker 2: bipartisan urgency for lawmakers to and the shutdown. However, there's

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Speaker 2: maybe some motion behind the scenes. Representative Jason Smith, chair

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Speaker 2: of the House Ways and Means Committee, telling Bloomberg Television

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Speaker 2: that Republicans in both chambers are floating a stopgap funding

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Speaker 2: bill that extends to December twenty twenty six. Smith also

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Speaker 2: said he would support a longer term stop gap measure.

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Speaker 2: I would support that until December first.

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Speaker 3: I think that that would allow more stability for our economy,

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Speaker 3: stability for the American people.

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Speaker 2: The proposal is something that Smith said he's been hearing

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Speaker 2: in conversations from Senators and from House members. In New

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Speaker 2: York City, the second mayoral debate has wrapped up Democratic

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Speaker 2: nominees or On Memdannie, Independent candidate Andrew Cuomo, and Republican

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Speaker 2: nominee Curtis Lee. What took the stage? Ma'm Donnie and

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Speaker 2: Cuomo repeatedly clashed over their respective records and policies throughout

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Speaker 2: the night. Here's an exchange between Mamdanie and Cuomo.

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Speaker 3: We just had a former governor say in his own

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Speaker 3: words that.

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Speaker 2: The city has been getting screwed by the state. Who

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Speaker 2: was leading the state? It was you govern the state

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Speaker 2: governors screwing this. You come, Zora Memdanie and Andrew Cuomo

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Speaker 2: speaking there. The audio is courtesy of Spectrum News New

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Speaker 2: York One. This is the final debate among the candidates

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Speaker 2: before early voting begins later in the week. And that's

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Speaker 2: news when you want it. With Bloomberg News Now, I'm

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Speaker 2: Dan Schwartzman, and this is Bloomberg