Bloomberg News Now November 1, 2025: Berkshire’s Earnings Soar, China to Suspend Some Rare Earth Curbs, More
Nov 2, 2025
Berkshire Hathaway sees a record cash pile and a remarkable 34% rise in earnings, thanks to booming insurance profits. China pauses rare earth export controls, signaling possible thawing relations in the US-China trade saga. Meanwhile, the Pentagon urges Southeast Asian nations to enhance maritime surveillance amid rising tensions in the South China Sea. As OPEC hints at a slight production increase, experts analyze a solid October for the markets, indicating a recovery momentum. Additionally, nonprofits are stepping up to assist families facing lapsed SNAP benefits.
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Berkshire's Record Cash And Mixed Income
- Berkshire Hathaway's cash surged to a record $381.7 billion in Q3 while operating earnings rose 34% to $13.5 billion.
- Net investment income fell 13% to $3.2 billion due to lower short-term interest rates.
China Agrees To Ease Rare-Earth Curbs
- The U.S. and China agreed China will suspend new rare-earth export controls and stop probes of U.S. semiconductor firms.
- The pact aims to ease trade tensions following President Trump and Xi Jinping's meeting.
U.S. Pushes Maritime Surveillance In Southeast Asia
- Pentagon Chief Pete Hegseth urged Southeast Asian nations to boost maritime surveillance using unmanned tech.
- He framed the push as a response to worsening aggression by Beijing in the South China Sea.