WEBVTT - Introducing Bloomberg News Now

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<v Speaker 1>Hi, this is Tom Keene, and I want to tell

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<v Speaker 1>you about Bloomberg News Now. It's News when you want

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<v Speaker 1>it on your schedule. These are short audio reports five

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<v Speaker 1>minutes or less that bring you the latest headlines with context,

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<v Speaker 1>twenty four hours a day. Get it on your smartphone

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<v Speaker 1>with Apple Podcasts, Spotify or any podcast platform. And if

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<v Speaker 1>you're still not sure, here's a sample of today's latest

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<v Speaker 1>report from our team at Bloomberg News Now.

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<v Speaker 2>News when you want it with Bloomberg News Now. I'm

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<v Speaker 2>Amy Morris. This just crossing the Bloomberg terminal. Boeing says

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<v Speaker 2>it plans to cut its workforce by about ten percent,

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<v Speaker 2>responding to the crisis facing the plane maker as it

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<v Speaker 2>faces a drawn out strike by workers and a worsening

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<v Speaker 2>cash crunch. Bloomberg Intelligence Senior Aerospace, Defense and Airlines analyst

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<v Speaker 2>George Ferguson.

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<v Speaker 3>Tough times are a head and that's what CEO Kelly

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<v Speaker 3>or Berg told the company when he told him there's

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<v Speaker 3>going to be a ten percent cut. Tightening their belt here.

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<v Speaker 3>It looks to me like they're posturing for the long haul,

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<v Speaker 3>right they tell them to me, I think they're telling

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<v Speaker 3>the union, you know, we're going to slim down were

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<v Speaker 3>we need to save a bunch of money and we're

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<v Speaker 3>ready to kind of go to long haul on our

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<v Speaker 3>negotiations with you. We're going to take pain on the

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<v Speaker 3>executive side as well.

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<v Speaker 2>Roughly seventeen thousand jobs will be affected. That's about ten

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<v Speaker 2>percent of its workforce, including executives, managers, and employees. The

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<v Speaker 2>company also announcing that first delivery Boeing's already delaid seven

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<v Speaker 2>seven seven X aircraft will now happen in twenty twenty six.

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<v Speaker 2>Boeing shares now down more than two percent in the

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<v Speaker 2>post market, and we bring you closing numbers each day

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<v Speaker 2>here at Bloomberg. The Dow up four hundred and ten points,

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<v Speaker 2>that's a record close, NASDAK up sixty one points in

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<v Speaker 2>the s and P five hundred up thirty five, also

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<v Speaker 2>an all time high. The US is expanding its sanctions

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<v Speaker 2>on Iran's oil and petrochemicals sectors in response to the

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<v Speaker 2>country's October first ballistic missile attack on Israel. The move

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<v Speaker 2>gives the Department the ability to target a broader range

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<v Speaker 2>of activities related to the trade in the future. That's

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<v Speaker 2>according to the Treasury Department. The US is sanctioning seventeen

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<v Speaker 2>ships in ten entities that have been involved in shipping

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<v Speaker 2>Iranian oil and petrochemicals. Now, Israel has yet to decide

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<v Speaker 2>how to retaliate against that attack last week. That's according

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<v Speaker 2>to an Israeli official, and Israel remains under pressure from

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<v Speaker 2>the US and others to limit the severity of its response.

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<v Speaker 2>Yesterday's Security Cabinet meeting ended without a decision on what

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<v Speaker 2>the response should be, and it's not clear if there

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<v Speaker 2>are divisions within Prime Minister Benjamin Netanyahu's coalition government or

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<v Speaker 2>if they're just biding their time. Elon Musk's unveiling of

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<v Speaker 2>self driving taxi prototypes let down some Tesla investors. Many

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<v Speaker 2>were expecting more particulars on how the carmaker can possibly

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<v Speaker 2>pull off his latest robocar predictions. The Tesla chief executive

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<v Speaker 2>officer unveiled a slick two seat sadan called a Cybercab

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<v Speaker 2>late yesterday, saying that production may start in twenty twenty

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<v Speaker 2>six and that the vehicle would cost less than thirty

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<v Speaker 2>thousand dollars more details now with Bloomberg's CREGUPDA.

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<v Speaker 4>The timing is also another kind of volatile factor here,

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<v Speaker 4>because yes, there are plenty of unveilings coming out of Tesla,

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<v Speaker 4>but Elon Musk and his design team has a history

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<v Speaker 4>of going far past the timeline that they suggest. If

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<v Speaker 4>he's talking about two short years, there's a lot of

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<v Speaker 4>questions about, well, can you actually get to those two years?

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<v Speaker 2>Bloomberg's Creedy Gupta. Tesla shares fell eight point eight percent

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<v Speaker 2>in the regular session. US consumer sentiment unexpectedly fell for

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<v Speaker 2>the first time in three months. The preliminary October Sentiment

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<v Speaker 2>index declined to sixty eight point nine from seventy point

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<v Speaker 2>one in September. It's according to the University of Michigan.

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<v Speaker 2>The median estimate and a Bloomberg survey of economists called

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<v Speaker 2>for a reading of seventy one. And banks reported earnings today,

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<v Speaker 2>black Rock pulling in a record two hundred and twenty

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<v Speaker 2>one billion dollars of total client cash last quarter, pushing

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<v Speaker 2>the world's largest money manager into an all time high

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<v Speaker 2>of eleven and a half trillion dollars of assets as

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<v Speaker 2>it seeks to become a one stop shop for stocks, bonds,

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<v Speaker 2>and increasingly private assets. The firmatted two point four trillion

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<v Speaker 2>dollars to its total assets over the past twelve months,

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<v Speaker 2>and Black Rock shares gained three point six percent in

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<v Speaker 2>the regular session. JP Morgan Chase kicked off bank earning

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<v Speaker 2>strong with a surprise gain and net interest income, even

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<v Speaker 2>raising its forecast despite the FED cutting interest rates. JP

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<v Speaker 2>Morgan's Wall Street businesses also topped estimates. JP Morgan shares

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<v Speaker 2>gained four point four percent in the regular session, closing

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<v Speaker 2>up the most in about eighteen months. Wells Fargo shares

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<v Speaker 2>rose after this morning's opening bell after a surgeon investment

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<v Speaker 2>banking fees helped counter a dip in lending revenue as

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<v Speaker 2>interest rates fall. Shares of Wells Fargo gained five point

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<v Speaker 2>six percent in the regular session. President Biden says the

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<v Speaker 2>damage from Hurricane Milton alone could be around fifty billion dollars.

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<v Speaker 2>He's preparing to see the devastation for himself firsthand when

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<v Speaker 2>he goes to Florida this weekend. The President's traveling there

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<v Speaker 2>on Sunday. Major League Baseball has moved the start time

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<v Speaker 2>of tomorrow's decisive Game five of the Al Division series

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<v Speaker 2>between Detroit and Cleveland from a night game to an

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<v Speaker 2>afternoon game because of a chance of inclement. Whether that

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<v Speaker 2>game will now be played at one oh eight pm

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<v Speaker 2>on Saturday. And that's news when you want it. With

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<v Speaker 2>Bloomberg News Now, I Amy Morris and this is Bloomberg