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When you want it. With Bloomberg News Now, I'm Karen Moscow. We begin with Volkswagen, which is taking unprecedented steps to make itself more competitive. The automaker's top labor leader said. The German automaker is embarking on major cost cuts at its flagship VW brand. Bloomberg's Oliver Crook has more from Berlin.
We're talking about cost savings of about four billion euros. We're talking about blanket cuts from of pay of workers at Volkwagen by ten percent across the board. We're also talking about the closing of three factories. That is what they plan to do at the management level.
And that's Bloomberg's All ver Kruk, who reports the announcement. Kicks off a contentious week for a Volkswagon. It's expected to post declining sales and profit when it reports third quarter earnings. On Wednesday, Boeing launched a nearly nineteen billion dollar share sale, one of the largest ever buy a public company. It's looking to address liquidity needs and stave off a potential credit rating downgrade to junk. The company offered to sell ninety million common shares and about five
billion dollars of depository shares. The common share portional loan would total just under fourteen billion dollars based on Friday's closing price. That would be the largest share sales since SoftBank Groups sold part of its stake in T Mobile US and twenty twenty, according to data compile by Bloomberg. McDonald said quarter pounders were returned to menus at all restaurants this week following a multi state e coli outbreak
that is sickened dozens and left one person dead. Beget more with Bloomberg's Creedygoupda, they are ruling out beef patties for the e coli out break. Remember they are reporting earning tomorrow, so it's the really one. We're going to keep a eye on in terms of the impact to their bottom line that this outbreak may be taking, in what kind of guidance they can give. Bloomberg's Creety Goopdare reports the e coli has been linked to slivered onions
served on top of the chain's quarter poundered cheeseburgers. That item is coming back to the menu at all McDonald's locations this week, minus the onions. Now to politics and Puerto Rican rapper bad Bunny express apport for Vice President Kamala Harris after a speaker at Donald Trump's rally in New York called the US territory a floating island of garbage. The remark about Puerto Rico by comedian Tony Hinchcliffe also drew a backlash from Republican lawmakers in Florida, including Senator
Rick Scott. We get more with Bloomberg's Bill Ferries.
Interestingly enough, outside of Florida, which has the largest population of Puerto Ricans in the continental US, the second largest group is in Pennsylvania, so one of the key battlegrounds states. So nobody knows at this point if that will make much of a difference in the election or not, but it's something that Harris supporters are talking a lot about overnight.
Bloomberg's Bill Ferries Vice president Kamala Harris meanwhile took to x following the comments, where she announced a plan to boost Puerto Rico's economy and power grid. Robin Hood Marcus is joining competitors and allowing retail traders to bet on election outcomes before next week's US vote for president. Robinhood is rolling out contracts pegged to specific events, including whether
a particular candidate will win an election. The firm said it will start offering a limited number of the event contracts tied to this year's presidential race, and buyers will have to attest that they meet a variety of requirements. Investigators from various federal agencies launched an inter agency operation today at the trouble To lock up in New York City,
where Sean Diddy Combs is being held. The law enforcement operation was said to be aimed at maintaining a safe environment, and a statement the Bureau of Prisons set its operation in Brooklyn was pre planned and that there is no active threat. NATO has confirmed that North Korean troops have been sent to help Russia and it's almost three year war against Ukraine. It said some soldiers have already been deployed in Russia's Kirsk border region, where Russia has been
struggling to push back a Ukrainian incursion. NATO Secretary General Mark Ruda told the reporters the move represents a significant escalation in North Korea's involvement in the conflict and marks a dangerous expansion of Russia's war while oil is sinking after Israel limited its retaliation to the missile barrage earlier this month to military sites in and around Tehran, begin more with Bloomberg's Ethan Branner in Tel Aviv.
On the one hand, it was restrained. On the other hand, Israeli officials and analysts were saying that they got a lot of important air defense systems and choke holds in their missile production and drone production facilities, so that they have stripped around a lot of its ability to fight if there were another attack.
And that's Bloomer's Ethan Bronner, who says Around's Foreign ministry is saying it won't forego it's right to respond to quote Israel's aggression, checking nimex scrude oil. This morning. It is down six point three percent. Brent also down six percent. Futures are higher. S and P futures up half percent down, futures up a third of up percent. Nasdak future is up seven tenths of percent. The ten year treasury yield four point two four percent. And that's news when you
want it. With Bloomberg News now, I'm Karen Moscow and this