Ed Kalegi

and Israeli strikes in Iran comes at a holy time for the religious community throughout the Middle East.

We get more on that from Bloomberg's Dan Williams.

Bloomberg's Dan Williams.

Operating profits at Berkshire Hathaway fell nearly 30 percent in Warren Buffett's last quarter as chief executive officer as insurance underwriting earnings slumped.

That metric fell by more than 54 percent, and the company warned of potential future challenges to the business because of strong competition and rising claims.

Berkshire also took a $4.5 billion impairment on its Kraft Heinz and Occidental Petroleum holdings.

Berkshire's cash pile stood at $373.3 billion, down from $381.7 billion in the previous quarter.

The conglomerate's earnings are closely watched because its stable of businesses ranging from insurance to rail, energy and manufacturing provides a snapshot of the health of the U.S.

economy.

That's news when you want it with Bloomberg News Now.

I'm Ed Kalecki.

This is Bloomberg.

News when you want it with Bloomberg News Now.

I'm Ed Kalecki.

The Trump administration is seeking to delay court proceedings over whether it must refund importers billions of dollars in tariffs recently struck down by the U.S.

Supreme Court, marking a contentious start to the next phase of the legal fight.

The government wants to wait as long as four months before reviving litigation before the U.S.

Court of International Trade on the refund question.

The government lawyers criticized attorneys for companies in one of the lead cases for pressing to reopen the legal wrangling as soon as possible.

Anthropic says it has not received any direct communication from the Department of War or the White House on the status of negotiations and will challenge any supply chain risk designation in court.