Bloomberg - Evening Briefing - Not fast enough

US President Joe Biden said humanitarian aid isn’t getting into Gaza fast enough as Israel extended its bombing campaign, with Gaza’s Hamas-run health agency reporting more than 5,700 people killed there since the war began, including 700 overnight. The Red Crescent said eight aid trucks arrived late Tuesday after deliveries were held up. United Nations Secretary-General Antonio Guterres has called for an immediate ceasefire in Gaza at the Security Council, alleging there have been “clear violations” of international law. The Israeli military began offering cash and protection for anyone who shares accurate information on the whereabouts of hundreds of Israeli hostages seized by Hamas in the surprise Oct. 7 assault that killed 1,400 people. Israel also said its forces struck Hamas divers who were trying to enter southern Israel by sea and exchanged fire on its borders with Lebanon and Syria. —David E. Rovella

The Pentagon is sending Israel the US Army’s two batteries of Iron Dome radar, command posts and interceptors to boost the nation’s air defense. The additional hardware comes as Secretary of State Antony Blinken warned that the US—which has assembled a large contingent of forces in the region—would respond “decisively” if Iran or its proxies attack Americans, the sternest warning yet as the Biden administration tries to keep Tehran from joining the war.

USS Gerald R. Ford aircraft carrier, right, and the oiler USNS Laramie in the eastern Mediterranean Sea on Oct. 11. Source: U.S. Navy/Navy Office of Information

Ukraine’s military has formed a battalion of soldiers made up entirely of Russian citizens who want to fight against Vladimir Putin’s invasion. The Sibir battalion has brought together dozens of Russians and people from ethnic minorities in Russia who traveled via third countries because they wanted to join the Ukrainian army, according to officials at their training camp. Unlike volunteer groups such as the Freedom of Russia legion that have declared support for Ukraine, the soldiers are part of the regular Ukrainian army and expect to be sent into battle very soon.

A $201 billion exchange-traded fund tracking the Nasdaq 100 whipsawed in late hours as Microsoft climbed, while Google’s parent Alphabet dropped after reporting earnings. The results came after the end of a session marked by a rebound in stocks, with the S&P 500 halting a five-day slide. Also after the closing bell, Texas Instruments gave a disappointing revenue forecast and Visa reported profit that beat Wall Street estimates. Here’s your markets wrap.

The top executives of Delta Air Lines and United Airlines are warning that legislation pending in Congress would devastate popular loyalty programs. The bipartisan proposal aims to save consumers money by forcing more competition in the lucrative credit card payments processing business. If enacted, the airlines contend, it would result in “unbelievable” consumer backlash given the effect on rewards programs. “This would kill rewards programs,” United CEO Scott Kirby said. 

California suspended General Motors’s Cruise unit from operating driverless vehicles in the state, saying they’re not safe for public roads and that company officials misrepresented the details of an accident with a pedestrian. The decision by the California Department of Motor Vehicles took effect immediately on Tuesday, and the agency said there’s no set length for the suspension.  

The GM Cruise Photographer: Bloomberg

Microsoft, Palantir Technologies and Abercrombie & Fitch are among a small but increasing number of US businesses offering menopause benefits, with women most likely to be affected now representing 20% of the female workforce. Employers are stepping in as menopause-related loss of productivity and medical expenses are costing the US economy $26.6 billion a year.

David Lee writes in Bloomberg Opinion that it’s no surprise that Elon Musk is set on doing to Wikipedia—the crowdsourced encyclopedia founded in 2001—what he’s done to Twitter. Wikipedia, Lee writes, has come to represent the very best of what the internet has to offer.

The Oct. 21 Weekend Reading edition of the Bloomberg Evening Briefing misspelled the name of Bloomberg Opinion columnist Jonathan Levin.

• As China’s economy falters, Xi Jinping pays a visit to his central bank.
• Xi fired his defense minister after just seven months on the job.
• Germany to pass Japan to become the world’s third-largest economy.
• Trump chief of staff Meadows granted immunity by special prosecutor.
• Trump assails GOP Speaker nominee Emmer. Then Emmer drops out.
• These are the top 25 UK startups to watch this year.
• Apple is going to revamp its TV app to make thinks more simple.

Gucci sales fell as Kering’s biggest brand grapples with the twin challenges of a luxury goods slowdown and internal tumult. Kering’s performance has been lagging rivals as the luxury group controlled by the billionaire Pinault family navigates management and creative changes at Gucci. The brand, which generates about two-thirds of Kering’s operating profit, replaced its chief executive officer and creative director in the past year.

Photographer: David Paul Morris/Bloomberg

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