Bom dia from São Paulo — where Bloomberg is bringing together leaders from government, business, and finance for the COP30 Business and Finance Forum, a three-day series of high-level events unfolding across the city just days before COP30 in Belém.

The Forum focuses on COP30’s core priorities: strengthening multilateralism, accelerating the Paris Agreement’s implementation, and connecting climate ambition to business. It highlights the critical role of business and finance in driving sustainable economic growth, mobilizing capital from both the public and private sectors, and advancing a more resilient, low cost, low-carbon global economy.

Brazil offers an inspiring backdrop for these discussions — more than 80% of the country’s electricity comes from renewable sources, making it one of the world’s clean-energy leaders.

Meanwhile, just north in Rio de Janeiro, the COP30 Local Leaders Forum also begins today, gathering mayors, governors, and subnational officials from around the world to showcase how local action is powering global climate progress. Over three days, participants will share solutions, strengthen partnerships, and advance a unified subnational climate agenda — extending from Rio to Belém.

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And a shoutout to the great Bloomberg LP team here in Brazil, led by the dynamic and charismatic Geraldo Coelho, who began his career with Bloomberg in 1996. It’s a fantastic office — an architectural treasure notable for its lack of a single straight line. Then again, as anyone chasing ambitious goals knows, progress rarely runs in a straight line. 

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Clean-Tech Rally: Green Investors Enjoy Huge Returns as Stock Market Powers Through Trump’s Attacks (Bloomberg)

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A dramatic rebound in clean-tech stocks has investors in the green economy hoping they can finally turn the page on years of punishing underperformance.

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Even as President Trump has canceled many US government programs dedicated to boosting wind, solar and electric vehicles, green stocks have become one of this year’s most lucrative bets.

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As world leaders prepare to gather at the COP30 climate summit in Brazil, Aniket Shah, global head of sustainability and transition strategy at Jefferies, says it’s important to acknowledge that even with this year’s green rebound, the planet is on track to miss not only the critical temperature threshold of 1.5C, but also 2C. “You have to keep both of those stories in your mind at the same time,” he said.

Today's Podcast is Up! Tune in to the Daily Read Podcast to stay ahead with AI-powered news insights every day — streaming now on Spotify and Apple Podcasts.

Boosting Small Business in the US

Graduates of the Goldman Sachs 10,000 Small Businesses program gathered in Washington, DC last week for the third 10,000 Small Businesses Summit.

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The Summit, the largest gathering of small business owners in the US, drew 2,200 attendees this year and celebrated entrepreneurs across America, ensuring they have a “seat at the table” in shaping policies that affect their future.

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Attendees learned about best practices for workplace retention, capital access, leveraging AI, and more, while engaging in productive discussions on Capitol Hill.
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Among the Summit's speakers was Mike Bloomberg, who told attendees: "In my experience, success is a product of hard work, experimentation, and even failure. Some ideas work out. Others don't, but they may lead to new ideas. Some of history's biggest inventions and discoveries, from the phonograph to penicillin, have come from accidents and experimentation." 

Read more about the program here.
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Mike Bloomberg addressed the Goldman Sachs 10,000 Small Businesses Summit in Washington, DC on Oct. 30, 2025 (left) and joined graduates of the program (right). Photos: Goldman Sachs, Bloomberg Philanthropies.

What I'm Reading

UN: Strikes on Boats Trump Claims Are Smuggling Drugs Are Illegal, in Violation of International Law (New York Times)

The United Nations human rights chief has condemned the Trump administration’s military strikes on boats that it says are being used to smuggle drugs from South America, saying that they violate international law and should be investigated.

Volker Türk, the UN High Commissioner for Human Rights, said in a statement released on Friday that there was no justification under international law for the strikes, which have killed at least 61 people since the start of September.

Ukraine Latest: UK Sends Ukraine More Storm Shadow Missiles to Strike in Russia (Bloomberg)
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The UK government recently resupplied Ukraine with more Storm Shadow cruise missiles to enable Kyiv to continue its campaign of long-range strikes inside Russia.
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The delivery of an unspecified number of missiles was made to ensure Ukraine is stocked ahead of the winter months, during which Britain is concerned the Kremlin will step up attacks on Ukrainian civilians.
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As Russia increasingly struggles under the weight of sanctions, the UK and its allies are trying to show Vladimir Putin that Western support for Ukraine will outlast the ability of the Russian economy to sustain its war effort.

Shutdown Tracker: Congress to Crush US Record This Week for Longest Shutdown (Politico)

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Congress is on track this week to break an unflattering record: presiding over the longest government shutdown in US history.
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The ongoing funding lapse will hit the 35-day mark Tuesday night, eclipsing the partial shutdown that ended in early 2019 and also occurred under President Trump.

This Week: Trump Says He Will Not Attend Supreme Court Hearing on Tariffs (Bloomberg)

President Trump said he would skip attending the Supreme Court hearing this week over the legality of his worldwide tariffs regime.

The court is scheduled on Wednesday to hear Trump’s appeal of a lower court’s ruling. The justices must decide whether Trump was right to claim in April that a national emergency gave him the power to unilaterally impose trade tariffs on imported goods, upending decades of free-trade hegemony, according to Politico Playbook.

CBS 60 Minutes Interview: Trump Says Immigration Raids ‘Haven’t Gone Far Enough,’ Cites Insurrection Act (Bloomberg)
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Trump said that he could use the Insurrection Act to use professional military, instead of the National Guard, to US cities “if I wanted to.” “If you had to send in the Army or you had to send in the Marines I’d do that in a heartbeat,” he said. “And no judge could challenge that.”

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The Insurrection Act allows the president to send in military troops when local forces are overwhelmed. The last president to use it was in 1992, when President George H.W. Bush called in troops to quell riots in Los Angeles. State and local officials say the size of the protests against Trump’s immigration raids are not out of control.

Watch the full CBS interview here.

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Latest Late Night Feud: Donald Trump Suggests Seth Meyers Mocking Him on Late Night Is ‘Probably Illegal’ (People)

President Trump's remarks about Late Night host Seth Meyers in a Truth Social post on Saturday:

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Profit Surge: Buffett’s Berkshire Cash Hits $382 Billion, Earnings Soar (Bloomberg)

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Berkshire Hathaway Inc.’s cash pile soared to $381.7 billion in the third quarter, a fresh record, and operating earnings surged 34% at CEO Warren Buffett’s conglomerate.

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That figure hit $13.5 billion, as the firm’s insurance underwriting profit more than tripled in a period marked by unusually low disaster activity, according to filings published Saturday.

Half a Century Strong: Apple to Kick Off 50th Anniversary With Nearly $140 Billion Quarter (Bloomberg)

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Sí, oui, ja! You Can Learn a Language Late in Life (Financial Times)

Almost every day, Mike Bloomberg spends an hour and a half doing something that has nothing to do with his financial information empire, his work with the UN, or his philanthropic foundation.

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He has a Spanish lesson at his office with a private instructor, sometimes in person but mostly on a video call, especially if travelling. Convinced that the day you stop learning is the day you start dying, the 83-year-old billionaire, has now been doing this for close to a quarter of a century, according to the Financial Times. 

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Several studies have shown learning a new language over the age of 60 is entirely feasible.

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NYC Mayors Race: Obama Calls Mamdani to Praise His Campaign and Offers to Be Sounding Board (New York Times)

Former President Barack Obama called New York City mayoral candidate Zohran Mamdani on Saturday, praising his campaign and offering to be a “sounding board” into the future.

“Your campaign has been impressive to watch,” Obama told Mamdani, according to the Times. 

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The former president’s outreach on the eve of what has been a contentious election is notable, given how divided the Democratic establishment has been over Mamdani and the role that Obama still plays in the party.

Sunday Recap: The NYC Marathon in Photos and Videos (New York Times)

As the sun rose on Sunday, runners from all over New York City, the greater metropolitan area and the world hopped on the Staten Island Ferry to make their way to the start of the 54th New York City Marathon.

Benson Kipruto won the men’s race by three-hundredths of a second, and Hellen Obiri won the women’s race, obliterating the course record by more than two minutes.

It was a thrilling finish on a record-setting day, as more than 50,000 athletes — runners and wheelchair racers, elites and hobby joggers — packed the streets of the five boroughs, alongside over 2 million spectators, under sunny skies and amid perfect conditions.

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Five Top Tables: The New York Restaurants to Book This Fall (Bloomberg Pursuits) 

Finding a good place to eat in New York City at the time and place of your choosing is something of a blood sport. The Big Apple is arguably the world’s best food city—sorry Paris, Tokyo, Copenhagen—and competition to get into the top places is fierce. 

This Bloomberg Pursuits column features a list of five terrific places for assorted dining situations in New York City, including a place to talk business, a spot for short notice, and an excellent value spot. 

We’d also like to introduce you to the Bloomberg DINE Index, where you’ll find what’s ranking high on the Bloomberg Terminal’s DINE  guide among all the movers and shakers there. 

This Weekend in Baseball: The Los Angeles Dodgers Win the World Series (Wall Street Journal)

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The Dodgers are champions for the second consecutive season, making them the first team to repeat since Derek Jeter’s New York Yankees rattled off their third straight title a quarter-century ago.

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They outlasted the relentlessly spirited Blue Jays in one of the most thrilling Fall Classics in recent memory, culminating with a 5-4, 11-inning victory in the decisive showdown that began Saturday night and ended early Sunday morning.

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Best of Saturday Night Live

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"NBC News unveiled their new slogan: "Facts. Clarity. Calm" and they're already being sued for copyright infringement by a pillow from Home Goods."
-- Colin Jost

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On President Trump's recent trip to South Korea, where he was served beef patties with ketchup and gifted a gold crown:

"So they basically got the president of the United States a happy meal with a toy."
-- Colin Jost

From the Cold Open: Zohran Mamdani (Ramy Youssef), Andrew Cuomo (Miles Teller) and Curtis Sliwa (Shane Gillis) debate against each other in the race to become New York City's next mayor. Click the photo below to watch. 

And from the "White House Makeover:" The Property Brothers (Miles Teller) help Donald and Melania Trump (James Austin Johnson, Chloe Fineman) renovate the White House. Click the photo below to watch.
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