Bloomberg Businessweek

Featuring some of our favorite conversations of the week from our daily radio show "Bloomberg Businessweek Daily." Hosted by Carol Massar and Tim Stenovec Hear the show live at 2PM ET on WBBR 1130 AM New York, Bloomberg 92.9 FM Boston, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 121, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio. You can also watch Bloomberg Businessweek on YouTube - just search for Bloomberg Global News. Like us at Bloomberg Radio on Facebook and follow us on Twitter @carolmassar @timsteno and @BW See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. US personal spending rose at a solid clip in August for a third month, suggesting consumers continued to power the economy despite elevated inflation. Consumer spending, adjusted for changes in prices, increased 0.4% last month, according to Bureau of Economic Analysis data out Friday. The consecutive strong gains in consumer spending add to evidence of a solid economy in the current quarter, building upon even greater growth in the prior period than previously thought. However, maintaining such momentum hinges in large part on the labor market, which has shown signs of faltering with slower hiring and more moderate wage gains. Americans are also still dealing with sticky inflation, which risks staying elevated as President Donald Trump’s tariffs trickle through the economy. The so-called core personal consumption expenditures price index, which excludes food and energy items and is favored by the Federal Reserve, rose 0.2% from July. From the prior year, the gauge held stubbornly at 2.9%. While many companies initially held off on raising prices as they worked through built-up inventories, profit margins are at risk unless firms pass along some of the higher costs. Today's show features: See omnystudio.com/listener for privacy information.

The Virtue Foundation is a nonprofit organization with Special Consultative Status to the United Nations. Its mission is to increase awareness, inspire action and render assistance through initiatives on healthcare, education, and women and justice programs, as well as innovative work in research and analytics. Composed primarily of volunteers, Virtue Foundation is guided by the principle that true global change must begin within each of us—one person at a time, one act at a time. Dr. Joan LaRovere, the Co-Founder and President of Virtue Foundation as well as the Interim Chief Medical Officer at Boston Children’s Hospital, discusses the work being done by her NGO and how it is helping to create an efficient market for global health using data science and artificial intelligence to efficiently match need and resources in the low and low-middle income countries. Dr. LaRovere speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. European diplomats warned the Kremlin this week that NATO is ready to respond to further violations of its airspace with full force, including by shooting down Russian planes, according to officials familiar with the exchange. At a tense meeting in Moscow, British, French and German envoys addressed their concerns about an incursion by three MiG-31 fighter jets over Estonia last week, according to the officials, who spoke on condition of anonymity as the talks took place behind closed doors. Following the conversation, they concluded that the violation had been a deliberate tactic ordered by Russian commanders. Russian officials have denied their planes crossed into Estonian airspace and insisted that they are not trying to test NATO. They said that a separate incident when drones crossed into Poland was the result of an error. Kremlin spokesman Dmitry Peskov this week said Russian military flights are guided by international rules. NATO’s eastern members have faced a series of violations this month that have posed an unprecedented test of the alliance’s resolve at a moment when Vladimir Putin is stepping up Russian attacks on Ukraine’s civilian infrastructure and US backing for Kyiv is wavering. President Donald Trump this week urged Ukraine to win back all the territory captured by Russia “with the support of the European Union” and defined the US role as selling weapons that allies could ship to the battlefield. Today's show features: See omnystudio.com/listener for privacy information.

Three years ago, before artificial intelligence became part of the national consciousness, American University's Kogod School of Business embarked on a program to change its curriculum and infuse AI throughout its undergraduate and graduate courses. More than 90% of the faculty are now infusing AI into their classes, while every student gets a Perplexity Enterprise account when they being their studies at Kogod. David Marchick, the Dean of American's B-School, discusses the growing role of artificial intelligence in high education. Dean Marchick speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Intel Corp. has approached Apple Inc. about securing an investment in the ailing chipmaker, according to people familiar with the matter, part of efforts to bolster a business that’s now partially owned by the US government. Apple and Intel also have discussed how to work more closely together, said the people, who asked to not be identified because the deliberations are private. The talks have been early-stage and may not lead to an agreement, the people said. Such a deal would follow a $5 billion investment last week by Nvidia Corp., which plans to work with Intel on chips for personal computers and data centers. SoftBank Group Corp., the Japanese tech giant seeking to expand further in the US, announced a $2 billion investment in Intel last month. Intel also has reached out to other companies about possible investments and partnerships, the people said. Today's show features: See omnystudio.com/listener for privacy information.

France recognized Palestine as an independent state and, along with Saudi Arabia at a United Nations conference led by the two countries, called on Israel to end the war in Gaza immediately. “One solution exists to break the cycle of war and destruction: acknowledging each other,” French President Emmanuel Macron said on Monday. “We must recognize that Palestinians and Israelis are living in twin solitude.” Saudi Foreign Minister Faisal bin Farhan, reading out a message from Crown Prince Mohammed bin Salman, who wasn’t in New York, echoed those comments. For her insight into the conflict with the UN General Assembly in the backdrop, hosts Carol Massar and Tim Stenovec speak with Mona Yacoubian, Director and Senior Adviser, Middle East Program at the Center for Strategic and International Studies. See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump said NATO nations should shoot down Russian aircraft that violated their airspace and struck a more sympathetic tone on Ukraine’s chances of winning the war. He spoke as he met with Ukrainian President Volodymyr Zelenskiy following recent jet incursions that have alarmed allies.“Yes, I do,” Trump said when asked directly by a reporter if NATO allies should take down Russian aircraft during his meeting on the sidelines of the United Nations General Assembly in New York on Tuesday. In a subsequent social media post, Trump said he believed that Ukraine, with the support of the European Union, was positioned not only to fight back but to reclaim all the territory taken by Russia since its invasion in 2022 — and perhaps more. “Putin and Russia are in BIG Economic trouble, and this is the time for Ukraine to act. In any event, I wish both Countries well. We will continue to supply weapons to NATO for NATO to do what they want with them. Good luck to all!” Trump said. Today's show features: See omnystudio.com/listener for privacy information.

Anger over rising energy costs will eventually force states to allow more natural gas infrastructure to be built in the US, according to one of the nation’s largest producers of the fuel. “We’ve never produced more energy than we’re producing now, but Americans’ energy bills are up over 35%,” EQT Corp. Chief Executive Officer Toby Rice said Thursday at BloombergNEF’s Barrel of Tomorrow in the Age of AI summit in Houston. “That’s the catalyst that’s going to get people asking questions.” Rice and other panelists including Chris James, founder and chief investment officer of investment firm Engine No. 1 LP, and Cynthia Hansen, head of gas transmission and midstream at Enbridge Inc., see developing more infrastructure, particularly natural gas, as the way to bring down utility bills as well as meet demand from data centers supporting artificial intelligence. Rice, the head of the $31 billion natural gas supplier, discusses the opportunities and challenges within his industry with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Walt Disney Co. said Jimmy Kimmel Live! will return to the air on Tuesday, ending a suspension imposed following controversial remarks the ABC late-night host made about the assassination of Republican activist Charlie Kirk. “We have spent the last days having thoughtful conversations with Jimmy, and after those conversations, we reached the decision to return the show on Tuesday,” Disney said in a statement. Kimmel will address the controversy when he returns to the stage, according to people with knowledge of the matter who asked not to be identified. He personally negotiated his return with Disney Chief Executive Officer Bob Iger and Dana Walden, who oversees ABC as co-chair of entertainment at the company. The network pulled the show on Sept. 17, two days after Kimmel, 57, said conservatives were trying to score political points from the killing. Today's show features: See omnystudio.com/listener for privacy information.

Octopus Energy Group Ltd. plans to spin off Kraken Technologies Ltd., a software platform that helps utilities manage the transition to cleaner energy. Kraken has been key to Octopus Energy’s growth into the UK’s largest electricity supplier, leapfrogging industry incumbents to serve more than 7 million customers in the country. The software allows it to balance out power flows to households as energy-transition technologies like electric vehicles, home batteries, solar panels and heat pumps become more widespread. Amir Orad, the CEO of Kraken, discusses the particulars of the spinoff and why he feels it's important for nations to have a diverse mix of energy sources and providers. Amir speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Kindbody was once one of the fastest-growing fertility chains in the US. The venture-backed company cultivated a modern and millennial-friendly aesthetic that helped it attract more than $300 million in investments, including backing from celebrity investors like Gwyneth Paltrow and Chelsea Clinton. But Kindbody has been riddled with clinical problems, with embryos being mislabeled, lost or accidentally destroyed, and has spiraled into crisis. As more people seek fertility treatment than ever, the startup's story illustrates the dangers of moving fast in a largely unregulated industry. See omnystudio.com/listener for privacy information.

President Trump's efforts to redefine federal relations with higher education have major implications for how the US funds research. From his 50-year tenure as President of Bard, Leon Botstein brings a broader perspective to what he believes is at stake for the country. He speaks with David Westin on this special bonus edition of the Bloomberg Wall Street Week podcast. See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Senator Ted Cruz has become the most prominent Republican to criticize Federal Communications Commission Chair Brendan Carr, saying President Donald Trump’s top media regulator resorted to “mafioso” behavior to pressure Disney Corp.’s ABC to remove late night host Jimmy Kimmel. Cruz, the chairman of the Commerce Committee and a frequent defender of the Trump administration, took to his podcast in the wake of Kimmel’s indefinite suspension this week to describe Carr’s actions as “dangerous.” Carr earlier in the week implied on another podcast that ABC could face serious consequences from the government over Kimmel’s remarks about the shooting of conservative activist Charlie Kirk. Only hours later, ABC pulled Kimmel’s show. Cruz said he doesn’t believe the government should punish media companies over political disagreements. Today's show features: See omnystudio.com/listener for privacy information.

Featuring some of our favorite conversations of the week from our daily radio show "Bloomberg Businessweek Daily." Hosted by Carol Massar and Tim Stenovec Hear the show live at 2PM ET on WBBR 1130 AM New York, Bloomberg 92.9 FM Boston, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 121, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio. You can also watch Bloomberg Businessweek on YouTube - just search for Bloomberg Global News. Like us at Bloomberg Radio on Facebook and follow us on Twitter @carolmassar @timsteno and @BW See omnystudio.com/listener for privacy information.

Dr. Susan J. Blumenthal has been at the forefront of women’s health for 30 years. Having served under four US presidents, she achieved the rank of Rear Admiral (Ret.) with the US Public Health Service, is the former Assistant Surgeon General, and was the nation's first-ever Deputy Assistant Secretary for Women's Health. She currently works as a visiting professor with the MIT Media Lab. Dr. Blumenthal discusses the changing landscape for women’s health, and key research within the field, with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump said US broadcast networks should face scrutiny over their licenses if they’re too critical of him, in what amounts to his furthest-reaching threat to media freedoms. “When you have a network and you have evening shows, and all they do is hit Trump,” Trump told reporters aboard Air Force One on Thursday. “I would think maybe their license should be taken away.” The president was defending ABC’s decision to suspend Jimmy Kimmel’s show indefinitely over the late-night host’s remarks about the death of conservative activist Charlie Kirk. Trump’s latest comments came days after he filed a $15 billion lawsuit against the New York Times. The president and his Republican allies have long complained that America’s mainstream media is biased against conservatives. Trump has repeatedly called for CBS, ABC and NBC to get rid of late night comedy hosts who are frequently critical of his administration. On Wednesday, Walt Disney Co.’s ABC network said it is taking Jimmy Kimmel Live! off the air indefinitely following a backlash from conservatives over the late-night host’s comments about Kirk. Earlier Thursday, Trump backed ABC’s decision to remove Kimmel amid pressure from network affiliates who had said they were pulling the show. Today's show features: See omnystudio.com/listener for privacy information.

New York City's Brooklyn Navy Yard has evolved from a collection of warehouses into a model for 21st-century manufacturing, where climate-tech, smart city solutions, and advanced fabrication companies grow alongside distilleries, designers, and robotics startups. Now, the mission-driven industrial park is prompting a broader rethink of what manufacturing looks like in big cities, and how to solve some of today’s biggest problems, from climate change to health care access. Lindsay Greene, President and CEO of the Brooklyn Navy Yard, discusses her vision for the Big Apple's business ecosystem. Lindsay speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Federal Reserve officials lowered their benchmark interest rate by a quarter percentage point and penciled in two more reductions this year following months of intense pressure from the White House to slash borrowing costs. Chair Jerome Powell pointed to growing signs of weakness in the labor market to explain why officials decided it was time to cut rates after holding them steady since December amid concerns over tariff-driven inflation. The decision comes at an extraordinary moment for the Fed. President Donald Trump, who has demanded drastic rate reductions and sought to exert more control over the US central bank, continued his legal battle this week to remove one official from the Fed board and install his own top economic adviser ahead of the highly anticipated gathering. Fed Governor Lisa Cook and newly-sworn-in Governor Stephen Miran, who is on a temporary leave from his role as chair of the White House Council of Economic Advisers, both attended the meeting. The Federal Open Market Committee voted 11-1 on Wednesday to cut the target range for the federal funds rate to 4%-4.25%, after holding rates steady for five straight meetings this year. Today's show features: See omnystudio.com/listener for privacy information.

Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance. Federal Reserve officials lowered their benchmark interest rate by a quarter percentage point and penciled in two more reductions this year following months of intense pressure from the White House to slash borrowing costs. Chair Jerome Powell pointed to growing signs of weakness in the labor market to explain why officials decided it was time to cut rates after holding them steady since December amid concerns over tariff-driven inflation. “Labor demand has softened, and the recent pace of job creation appears to be running below the break-even rate needed to hold the unemployment rate constant,” Powell told reporters in his post-meeting press conference. He added, “I can no longer say” the labor market is “very solid.” See omnystudio.com/listener for privacy information.