Bloomberg News and Videos — Page 9

Kroger CFO David Kennerley discusses the company plans to invest $5 billion in consumer value, including affordable groceries and simpler promotions, while seeking to fund the effort through $4 billion in structural cost savings. Kennerley said the company is seeing a slight uptick in inflation but remains within the range it projected earlier in the year, and will accept supplier price increases only when justified. He speaks with Romaine Bostick in "The Close."

Huntington Bank shares were little changed after the company reported revenue below expectations and earnings per share in line. CEO Steve Steinour said the results reinforce confidence in meeting financial targets and delivering sustained earnings growth. He cited growth and the integration of the Cadence and Veritex partnerships, while explaining that stronger competition has made some lending unattractive. He speaks with Romaine Bostick & Jess Menton on "The Close."

Andrew Charles discusses TD Cowen's downgrade of Chipotle to Hold, citing concerns about sales trends. He said the company's recent same-store sales have benefited from creative campaigns, including four annual limited-time protein offerings, value initiatives and a new chief marketing officer, but he expected these efforts to deliver stronger results in the fourth quarter and argued that growth will become harder in 2027 as Chipotle laps those drivers and must rely on less-proven initiatives. He speaks with Romaine Bostick & Jess Menton on "The Close."

Romanian President Nicusor Dan says Russia is trying to intensify the war in Ukraine and provoke European neighbors. He talks about security with NATO and defending against Russian drone attacks. Dan also says his country has no plans to end its contract with Elon Musk's Starlink satellite service. He speaks on "Balance of Power."

Mark Carney wants all of his Canadian diplomats to stay away from anyone running for office in the upcoming US midterm elections. They can only have meetings with special permission. Carney wants to avoid allegations of political interference. Bloomberg's Josh Wingrove reports.

Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Jess Menton, Carol Massar and Tim Stenovec.

Jackie Reses, co-founder & CEO of Lead Bank, said that she bought a bank so that she could 'disrupt' the banking system from the inside to rework its 'antiquated' financial services. Reses said that more companies are looking to embed financial services into what they do as it becomes more and more embedded across the board in everyday life.

Gene Munster, Deepwater Asset Management managing partner, says there may be no near-term comment or catalyst to restore investor confidence amid scrutiny of AI spending. He describes a divide between "academics" and "visionaries." He speaks on "Bloomberg The Close."

Max Levchin, founder and CEO of Affirm Holdings, says the company is seeing no slowdown in demand from consumers or retailers, despite concerns about squeezed household budgets and a challenging consumer-spending outlook. Discussing Affirm's announced exclusive buy now, pay later deal with Sam's Club, he says the partnership arrives ahead of the holiday season and reflects retailers' interest in Affirm as a way for customers to pay.

Emily Domenech, executive director of the Federal Permitting Improvement Steering Council, said that she thinks there is a 'good chance' that a permitting reform deal passed in the Senate will make it through the House during the upcoming lame duck session. Domenech said that lawmakers from both sides of the aisle have recognized how important it is to make it easier to build in America and it will be crucial and difficult to keep that coalition together in order to pass the bill.