Bloomberg Audio Studios, podcasts, radio news. Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today, Karen.
Reaction continues to pour in from around the world to the death of the architect of the October seventh attacks against Israel. The Israeli military says Yahya Sinwar, the leader of Hamas, was killed Wednesday in what appears to be a chance encounter in southern Gaza. Here's Israeli Prime Minister Benjamin Natanyahu's speaking through an interpreter.
I mean, I'm standing before you today to inform you the Hamas leader, Yaya Sinwar, has been eliminated. The person who committed the most terrible massacre in the history of our nations since the Holocaust, the mass murderer who murdered thousands of Israelis and kidnapped hundreds of our citizens, who was eliminated today by our heroic soldiers. And today, as we promised to do, we settled the account with him. Today evil has suffered a heavy blow, but the task before us is not yet complete.
And the news comes as Natanya, who continues to weigh Israel's retaliation against Iran for firing two hundred ballistic missiles on October first.
Well, Nathan Sinhar's a death that leaves Hamas with no clear successor, as questions remain about the path forward in the Middle Aged and we get more from a bloomberg middle aged ancher Jumana Bursecchi.
This is seen as a major victory for the Israeli Prime Minister and for the Israeli cabinet. It comes on the heels of the killing of the other former political leader of Hamas is smile Heni and Tehran a few months ago, and the killing of Hassan Asrela, the leader of Hesbala, alongside other Hesbella commanders as well, so very
significant moments. But the question from here onwards, and there are many questions, is who will be replacing Jehoa Sinwad, Will that person be more open to cease Far discussions, and indeed, from the Israeli perspective, is there actually a desire to move forward with these sees Far negotiations. There's a lot of pressure domestically on Natanyahu's government to secure
the release of the hostages. It's been over a year now and it's expected that there's still around one hundred hostages, unclear how many of them are still alive.
Bloombergymna Bersecchi reporting. President Biden says he's sending Secretary of State Antony Blincoln to Israel as part of efforts to end the war with Ummas.
Thenk Karen Vice President Kamala Harris says Sinwar's death offers a chance at peace.
This moment gives us an opportunity to finally end the war in Gaza, and it must end such that Israel is secure, the hostages are released, the suffering in Gaza ends, and the Palestinian people can realize their right to dignity, security, freedom, and self determination.
The Vice president spoke after a campaign event with college students in Milwaukee. Later, she held a rally in Lacrosse, Wisconsin, and talked about her plan to build an opportunity economy.
Which is where every American has an opportunity to own a home, to start a business, to build wealth.
Kamala Harris was joined by billionaire Mark Cuban. He blasted former President Donald Trump's plans for across the board tariffs as attacks on everybody. Cuban said, quote, Donald Trump wants you to have a lousy Christmas.
Well.
Next week, Nathan Vice President Harris will be joined on the stump by two of the most popular figures in the Democratic Party, Barack and Michelle Obama. A senior campaign official tells Bloomberg. The former president will join Harris in Georgia on Thursday, but the former First Lady will appear with the Vice president a week from tomorrow in Michigan. It will be the first time Harris has appeared with either of the Obamas during the campaign, and.
Former President Trump's getting high profile support of his own care and the world's richest person, Elon Musk, held an event for the former president yesterday in the Philadelphia area. Musk said the next election will decide the fate of America and the fate of Western civilization.
You know, you know what, I've been told at times that these are like right wing values.
I'm like, are you insane?
There's literally the fundamental values that made America what it is today.
As for Donald Trump, he rubbed shoulders night with New York City's elites at the Al Smith Dinner, and he blasted Kamala Harris firm not showing up to the annual Catholic charity event.
My opponent feels like she does not have to be here, which is deeply disrespectful to the event and in particular to our great Catholic community.
Vice President Harris did address the event in a brief video message. Donald Trump also gave an interview to the Catholic news channel e WTN. He said he would consider a religious exemption to covering the costs of in vitro fertilization. Some conservative Christians are opposed to the fertility procedure.
Well, let's turn to the markets now, Nathan. We're watching shares of Netflix. They're at five point seven percent this morning. The streaming giant added more than five million customers last quarter and eclipsed to Wall Street's estimates on every major metric. Netflix CEO Ted Sarandos was glowing about the company's prospects.
Looking into twenty twenty five. We're feeling really good about the business. We had a plan to reaccelerate growth, and we delivered on that plan. You can see that in our twenty twenty four financials. Expect to deliver fifteen percent revenue growth and six percentage points of operating margin improvement and engagement, which we view as our best proxy for member happiness because when people watch more, they stick around longer, so that's retention.
And Netflix is ted. Sarando says sales in the third quarter grew by fifteen percent and more than nine point eight billion dollars.
Something else we're watching, of course, Karen is Warren Buffett continuing to unload shares of Bank of America. Let's get the latest on that with Bloomberg's John Tucker.
John.
This has been going on for a while and Buffett still isn't saying why he's been selling.
I'm going to guess to make money.
Oh, that's one way.
Yeah.
Buffett's Birchshire Hathaway reaping about three hundred and seventy million dollars selling stock this week. This, according to a filing detailing, is sixteenth round of disposals since mid July. And this is trim Bircher's stake on the second biggest bank to nine point nine seven percent, and that number is important. Dathan US rules require investors with more than ten percent of a stock to disclose trades within a few days.
The latest filing may let Buffett provide updates less frequently, potentially leaving fellow shareholders in the dark for months if he sells further. The ninety four year old Buffett hasn't commented exactly why he's pulling back from the investment, though Thursday's regulatory filing shows Berkshire still remains back of America's biggest shareholder, with a stake worth about thirty two point six billion dollars. You know your income, John Tucker, Bloomberg Radio.
All right, John, thank you. We have some good news for Apple overseas. Salso, the newest iPhones in China are up twenty percent in their first three weeks compared with twenty twenty threes model. It's a positive sign for a device that struggled this year to gain traction in the world's largest smartphone market. The iPhone sixteen made its debut in September.
And we've got some news on the content front this morning, Karen. Today marks the launch of the Bloomberg Weekend Edition newsletter. Every Friday, we bring you a collection of ideas exploring the fascinating places where finance, life, and culture meet. This week's Weekend ed dish and features a look at how Starbucks became the instagrammable hangout for teens and tweens. Also a story about how China's Live Flat generation is choosing
self care over luxury goods. Get the Weekend Edition newsletter on Bloomberg dot com and on the Bloomberg Business app.
And it is time now for a look at some of the other stories making news in New York and around the world. And for that we're joined by Bloomberg's Michael Barr. Michael, Good Morning, Good Morning, Karen.
A hearing is scheduled for noon on Monday for the man who would have become the first person executed for a murder tied to shaken baby syndrome. The Texas Supreme Court halt at last night's lethal injection for Robert Roberson, who was convicted of killing his two year old daughter, Niki in two thousand and two. Critics of his conviction say flawed science sent Roberson to death row. Texas Department of Criminal Justice spokesperson Amanda hernandez I had.
The opportunity to go back there to speak with him, and he was shocked, to say the least.
He praise God and he thanked his supporters.
Republican state Representative Lacy Hull is calling for a new trial for Roberson.
There's so much that has never jurors a jury has never heard, and that what we learned in the committee hearing was that there is so much that was thrown out on hearsay, medical experts, things that were not allowed. So he needs a new trial to have all of this properly heard.
Roberson's lawyers argued new evidence suggests Nicki kned of pneumonia made worse by medication. There's a call for a major shakeup at the Secret Service. As an independent outline top to bottom failures that allowed a gunman to open fire on former President Donald Trump in July, killing a spectator and injuring Trump and others. The panel once new leadership
from outside the Service. In the blistering fifty two page report, a new timeline reveals local officers radio to alert that Thomas Crooks was armed and lying down thirty seconds before she rang out on the same frequency, but that message never made it a Secret Service in Argentina, prosecutors in Buenos Aires saying that the circumstances surrounding the death of former One Direction singer Liam Payne were suspicious and possibly involved drugs. Whoever, there is no sign of a third
party being involved. Paying thirty one, died on Wednesday. He shot the fame as a teenager and grappled with the pressures of global stardom. Forensic experts collected evidence a day after Payin was found dead in the hotel courtyard after plunging from his room on the third floor. Global News twenty four hours a day and whenever you want it with the Bloomberg News. Now. I'm Michael Barr, and this is Bloomberg Karen.
All right, Michael Barr, thank you time now for the Bloomberg Scores update with John Stshauer.
John, good morning, Good morning, Karen. Thought of a subway series not dead yet, but it took us severe beating last night, especially with the situation the Mets are now in facing the elimination needed and now beat the Dodgers three straight times. They've lost to LA three times and by a combined score of twenty seven to two. Things started quickly at City Field.
There's a shot right center field and Otni lights the fire.
He lead off home run.
Dodgers won Mets nothing in Game four, sports hat.
And then rookie Betts took over two run double in the fourth inning, two run homer in the six, Dodgers added three more than ninth one, ten to two, lead the series three to one. Mets stranded twelve went zero for ten with runners in scoring position. Earlier, it was ALCS Game three at high Drama in Cleveland, a routine game for seven Anything's Guardians led three to one, and then a series of dramatic home runs, two for each team.
Aaron Judge, John Carlos Stanton back to the back of the eighth inning, Judge to tie the game, Stanton to put the Yanks ahead. Yankees were one strike from a three to nothing series lead when John Kinzi Noel Belt at a pinch it game time, two run shot, and inning later it was David Frye. Guardians won seven to five, trimming the Yankee series lead to two to one.
Here's Aaron Boone, amazing game to witness. I mean that was, you know, playoff baseball. You know, both sides just kept coming with haymakers and big, big at bats, big moments off of two really good bullpens, and they all lasted us.
Tonight, another LCS double letter today, this time it's the Mets that go first. Game five, starting at five at City Field, and it's Game four in Cleveland, NFL. Denver sent New Orleans to a fifth rade loss thirty three ten Sean Payton beats his former team on the ice hat trick for our Temmi Panaraen Rangers won five to two at Detroit. Devil's won three one at Ottawa. Islanders
lost one nothing in Saint Louis. Longtime Virginia basketball coach Tony Bennett said to be displeased with the changes in college sports, retiring at age fifty five. Won the NCAA Tournament in twenty nineteen. John Stashedwer Bloomberg Sports County.
Nathan.
Coast to Coast. I'm Bloomberg Radio nationwide on Sirius XM, and around the world on Bloomberg dot Com and the Bloomberg Business app. This is Bloomberg Daybreak. Good morning, I'm Nathan Hager.
Both Israel and the United States are celebrating the death of Hamas leader Yayak Sinwar. Vice president Kamala Harris says the world is better off without him.
Sinwar was responsible for the killing of thousands of innocent people, including the victims of October seven and hostages killed in Gaza. He had American blood on.
His hands, and the Vice President says Sinwar's death presents an opportunity to bring the war in Gaza to an end, but Israel is not declaring victory just yet. For more, we are joined by Bloomberg Middle East correspondent Jamana Bursecci, the anchor of Bloomberg Horizons with us this morning from Dubai. Good morning. Now, with Hamas leaderless and apparently rudderless, where could this conflict go from here? Good morning?
That is the question that everyone seems to be asking today, and it really boils down to whether these diplomatic efforts are actually going to succeed. And it's pretty apparent that in the last twenty four hours, both the President Biden Vice President Kamala Harris have seen this as a window of opportunity to push forward with those seeswar discussions. The Secretary of State Anthony Blincoln is going to be returning to the region in the next four to five days
once more. This would be his eleventh trip since October seven to push forward with those negotiations. But of course, many questions still remain unanswered. The first is who actually will be replacing Yeh Sino? Is it going to be an appointee from within Gaza, in which case it complicates those seaswar discussions. Or will it be an appointee like the likes of Khalid Michal or Khalil Heya, both of them residing in Doha, which, as we know Qatar has
been a key mediator with those seaswar discussions. That could help perhaps push them along on the other side as well. The question is whether there is enough tomestic pressure on the Israeli Prime Minister to actually this time around come to a Cesi agreement in order to secure the release of hostages.
How do you get to a ceasefied agreement agreement though Jumana, when Yaya sin War was seen as one of the key figures at least when the discussions were underway in the ceasefire negotiations, and when Hamas at this point doesn't have clear leadership, who would they be negotiating with?
Yeah, that is it. So that I mentioned earlier, Khalil Heya, who lives in has been living in Doha, has actually been involved in those mediation discussions. So if they wanted somebody who is more in the loop of some of the background discussions that have been going on, he could be one name put forward, but at the same time he lacks the seniority and the leadership and the clouds that yeah Hinwa had within the party. Don't forget yeahhen what has been around for decades now, And yes he
was the mastermind of oktol over seven. But for many within Hamas and even for Iran, he was seen as just another figurehead in the so called Axis of resistance. And again there have been many eliminations of Hamas leaders over the last few years. I'm not specifically talking about Ismail Hani, and they've always managed to keep on. The
group hasn't fully been eliminated. So to come back to your question on whether the cees Far discussions can be successful, the Israeli Prime Minister has clearly articulated that the war in Gaza is not going to stop until Hamas fully laid down their arms, and the question for her onwards is whether Hamasa under so much duress now that they feel that they have no option but to lay down their arms and pave the way for a new type of governance in Gaza.
And in the meantime there's the effort as well to free the remaining hostages that Hamas is holding in Gaza. And the weight for retaliation against Iran over its ballistic missile strike earlier this month. Where do all these multiple fronts stand in terms of that.
Yeah, so multiple fronts being engaged in and you also didn't mention Lebanon as well. That's the front that has really been heating up over the last couple of weeks. The latest figure is pointing to over twenty four hundred people having been killed since the escalation of that front.
A ground occursion still taking place, air strikes. We talk about air strikes not just around the suburbs of Bea routes, but there have been some targeted air strikes in other countries as well, in Damascus and Lataquilla, one of the coastal cities in Syria. And so it is very clear that the Israeli viewpoint at this point in time is to go after commanders from all over of this axis of resistance and even sending a drone attacks as far
as Yemen to respond to the Hothies. And this, of course, as we all are sitting waiting to see what the likely response is going to be to the Iran ballistic missile that happened on October the first we've been talking about the various reports that have come out suggesting that the Israeli response is likely to be centered on hitting military infrastructure and perhaps individual senior commanders as opposed to
going after oil infrastructure. But none of us are really privy to the conversations that are going on here, and so it remains to be seen as to whether Israel want to escalate with the view of this getting expanded, or the conflic getting expanded even further, or as they have been saying the last couple of months, escalate with the view of de escalation.
Only about a minute left Jumana. But prior to Yaja sin War's death, there was a lot of pressure being laid on Israel to improve the humanitarian situation in Gauza. The letter from Secretary of State Blincoln and Defense Secretary Lloyd Austin. Where does that stand now?
Yeah, So there has been efforts on the part of the US not only to push forward on the CESPAR discussions, but also to help from a humanitarian perspective as well. The US. That letter that was released a couple of days ago indicated that the US are threatening to withhold military aid if the humanitarian situation doesn't improve and more trucks and a trucks are not allowed or have been
blocked access from entering into the gaza strips. So it is likely that more humanitarian aid will be coming through. But at the end of the day, you're still looking at a situation where ninety percent of the population displaced
without access to key supplies, medicine, food. The similar situation is playing out in Lebanon with a quarter of the population displaced, and even in Lebanon, where the conflict has only been going on really in this intensity the past month, the first case of cholera has been reported in years. As there again rations and medical supplies and access to food, it is becoming increasingly more difficult.
Thank you Jamana for the time this morning. Jamana Bursecci, anchor of Bloomberg Horizons with us this morning from Dubai. Now we want to turn to the main market story of the morning, and earnings beat pretty much across the board for Netflix, the streaming giant added even more subscribers than analysts expected, beat every major metric in a quarter that still felt some of the after effects of last year's strikes in Hollywood. Joining us for more on that
is Bloomberg's Critty Gupta Critty, good morning. I guess maybe we haven't reached peak Netflix just yet. Not quite.
It's an interesting one this time around because it kind of feels like it's quality of these results, not quantity. And I'll tell you what I mean here in terms of these numbers. When we look at Netflix, we tend to go off subscriber numbers, and I think that might be the wrong approach this time five million subscribers added
five point zero seven to be exact. Now, that is higher than the estimates, but if you compare that to a year ago, it was eight point seven to six million, So year over year that growth is actually slowing down. That being said, the kind of best part of these numbers is what's happening underneath the hood, and it's all
about pricing power. Nathan, this is really interesting. We know the password crackdown has been a very big piece of it, and because there has been that crackdown, it's really spurred this new increase in subscriptions. But then you have to look abroad. So much of Netflix's numbers are also going to be coming from new subscribers, not within the United
States but elsewhere. And as they capture them, charging them a higher rate of that subscription, and especially getting into those kind of different AD tiers, and that's where a lot of that growth is coming from.
Interesting because there was a lot of thought that the AD tiers were going to lower pricing power. Does that mean that there is still growth potential in the ad side of Netflix's business.
It kind of seems like it. I'll give you a stat here, So when you look at the six ninety nine dollars a month AD supported tier, it's largely in late twenty twenty two, but it looks like that's maybe where most of the growth is happening because half of their new subscribers is where the AD tier is sold. For the membership it rows thirty five percent within that tier itself. So that's a pretty big deal for the
third quarter. And it kind of feels like people are willing at the end of the day to say, all right, we'll watch an AD as long as we don't have to pay those higher prices. But yet again, look at some of the markets that Netflix is adding those higher prices. It's Japan, it's Spain, it's Italy. A lot of the countries in the world where maybe there might be a turn and perception in terms of buying power. It's kind of interesting that Netflix is getting and early indicator of that.
Does that raise the question then about whether growth has peaked in the US and could that be a big deal going down the line for Netflix.
So in the US, it's a little bit different because it kind of feels like content is what's driving that story. I mean, Nathan, if you think we could have a whole conversation on what we're watching on Netflix at the moment, but we know that a couple of years ago, one of the big criticisms of these studios was simply this idea that the content isn't coming fast enough. We're binging and the studios are taking longer. The Hollywood strikes putting
delays in people's favorite shows. But as long as you have that new pipeline, that seems to be where the US audience is more attracted simply because they're getting their hands on it. So, in addition to some of these kind of earning stories as well, the fact that they haven't been impeded as much as expected by those Hollywood strikes, that as a positive for the US audience.
This is Bloomberg Daybreak, your morning podcast on the stories making news from Wall Street to Washington and beyond.
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And I'm Nathan Hager. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Daybreak.
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