Bloomberg Businessweek

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Amazon Web Services, the world’s largest cloud provider, said issues continued to plague its operations after a widespread outage degraded services for a range of customers including government agencies, AI companies and financial platforms. Hours after saying Monday that it had mostly recovered from the database network issue, AWS said some users were still struggling to connect with rented servers. In an update on its health dashboard, the company said multiple AWS services in the East Coast region had experienced network connectivity issues.“We continue to observe recovery across all AWS services,” the company said at 3:15 p.m. on Monday. Amazon.com Inc.’s service underpins a large chunk of the internet, accounting for about a third of the cloud market. Downdetector tracked disruptions at hundreds of sites, including for financial services outfits Venmo and Robinhood Markets Inc., Apple Inc.’s Apple Music and Apple TV, software companies such as Zoom Communications Inc., Salesforce Inc. and Snowflake Inc., food services giants including McDonald’s Corp. and gaming companies like Epic Games Inc. Even Amazon’s own services, including Alexa and the Ring home security system, weren’t immune. Today's show features: See omnystudio.com/listener for privacy information.

The global battle among the three dominant digital powers―the United States, China, and the European Union―is intensifying. All three regimes are racing to regulate tech companies, with each advancing a competing vision for the digital economy while attempting to expand its sphere of influence in the digital world. Across the globe, people dependent on digital technologies have become increasingly alarmed that their rapid adoption and transformation have ushered in an exceedingly concentrated economy where a few powerful companies control vast economic wealth and political power, undermine data privacy, and widen the gap between economic winners and losers. Anu Bradford, Henry L. Moses Professor of Law and International Organization at Columbia Law School, explores a rivalry that will shape the world in the decades to come and breaks down her highly acclaimed book, "Digital Empires: The Global Battle to Regulate Technology." Professor Bradford speaks with Tim Stenovec and Emily Graffeo on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Make sense of the world with one essential conversation, every week. Mishal Husain, one of Britain's best interviewers, brings her signature blend of curiosity and tenacity to weekly conversations with world leaders, business titans, and cultural icons, revealing who they really are and how they see the world changing around them. Follow the podcast wherever you listen, so you don't miss an episode. swap.fm/l/P1iueaQy5gndhEheLwN3 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.

Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF. A jittery week on Wall Street ended on a positive note for stocks as President Donald Trump’s remarks soothed anxiety around trade tensions while regional banks rebounded. Bonds, gold and silver fell. The bounce in equities sent the S&P 500 to its best week since August, with Trump expressing optimism that talks with Chinese officials could yield an agreement to defuse the tariff spat between the world’s two biggest economies. A batch of solid results from various regional lenders lifted the industry after a rout triggered by concern over credit quality in the economy. The White House signaled efforts to calm fears of a full-blown trade war that could have a seismic effect on the global economy. “I think we’re doing very well. I think we’re getting along with China,” Trump said. He also indicated that he believed his planned meeting with President Xi Jinping this month would go ahead. The S&P 500 added 0.5%. A closely watched exchange-traded fund tracking regional banks climbed 1.6%. Zions Bancorp and Western Alliance Bancorp - which had led the recent industry selloff - rallied at least 3.1%. Oracle Corp. sank about 7% on concerns about fulfilling AI cloud demand. Treasury two-year yields rose from the lowest since 2022. The dollar was little changed at the end of its worst week since August. Today's show features: Winnie Cisar, Global Head of Strategy at CreditSights, on potential cracks in the US credit market Katie Hubbard, Executive Vice President of Capital Markets at Walton Global, on the US real estate market Dana Telsey, Founder, CEO and Chief Research Officer of Telsey Advisory Group, on the health of the American consumer and the retail sector Angela Stent, Senior Fellow at the American Enterprise Institute and Author of “Putin's World,” on President Donald Trump’s meeting with Ukrainian President Volodymyr Zelenskiy and planned summit with Russian President Vladimir Putin See omnystudio.com/listener for privacy information.

Professor Deblina Sarkar leads a research group at the MIT Media Lab developing microscopic technologies that work inside the human body. Her team creates ultra-small sensors and antennas, with some able to operate inside cells, to help detect disease early and enable low-power, smart health devices. This work blends biology, electronics, and AI, and has powerful implications for women’s health, where conditions are often underdiagnosed. Professor Sarkar explains how these nascent technologies are enabling earlier detection and more personalized care with Carol Massar and David Gura on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF. US President Donald Trump said he would hold a second meeting with Russian President Vladimir Putin at a yet-to-be determined date aimed at ending the war in Ukraine. Trump and Putin agreed to meet in Budapest during a two-hour phone call on Thursday. The two leaders met in Alaska in August, but failed to reach a breakthrough. “I believe great progress was made with today’s telephone conversation,” Trump posted on social media, saying that he and Putin would “see if we can bring this ‘inglorious’ War, between Russia and Ukraine, to an end.” Kremlin foreign policy aide Yuri Ushakov confirmed that Putin and Trump discussed holding a summit meeting in Budapest. He told reporters in an audio message that the discussion was substantive and frank, and that Trump proposed holding the meeting in Budapest. “We are ready!” Hungarian Prime Minister Viktor Orban posted on X in response, later saying he spoke to Trump by phone to prepare for the gathering. The US and Russia will hold high-level staff talks next week before the leaders summit, with Washington’s delegation led by Secretary of State Marco Rubio. A location has not yet been decided, Trump said. Russian Foreign Minister Sergei Lavrov and Rubio plan to hold a call in the coming days, Ushakov said. The leaders discussed what US-Russia trade would be possible if the war ends, according to Trump. The developments signal that Trump is willing to give diplomacy another chance before authorizing more aggressive steps against Moscow, even though his efforts thus far haven’t succeeded. The conversation took place a day before Trump’s White House meeting with Ukrainian President Volodymyr Zelenskiy, who has pressed the US president to sell his country long-range Tomahawk missiles that can strike deeper into Russian territory. Today's show features: See omnystudio.com/listener for privacy information.

Teri Williams is President and Chief Operating Officer of OneUnited Bank. She is responsible for implementation of the Bank’s strategic initiatives, as well as the day-to-day operations. Under her leadership, OneUnited Bank has consolidated four (4) banks and launched a digital platform to create a powerful national brand supported by innovative technology, products and services. Under her leadership, the bank introduced new first of its kind AI driven conversational financial wellness app powered by Google to give personalized insights to help you make better financial decisions. WiseOne offered to ALL because 80% of people still use their first bank accounts. Their bottom line is to make Americans more financially literate. Teri speaks with hosts Carol Massar and David Gura. See omnystudio.com/listener for privacy information.

Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF. A US judge has ordered the Trump administration to pause plans to fire thousands of federal workers during the government shutdown while labor unions challenge the move.The ruling on Wednesday from US District Judge Susan Illston in San Francisco follows layoff notices that have gone out to more than 4,100 federal employees since last week. The order isn’t a final decision on the merits of the case. It means that more than two dozen federal agencies named in the case cannot send out new layoff notices if they involve programs that include labor union members that sued. The decision means the government must halt action on notices that already went out while the judge weighs whether to impose a longer-term block. Today's show features: See omnystudio.com/listener for privacy information.

Women currently control about one-third of the world's wealth and that figure is expected to rise to 50% by the end of the decade, according to research data from BlackRock. Women are also playing an increasingly large role in driving and engaging with the capital markets, and these statistics could indicate a coming structural shift for the financial services industry. Jaime Magyera, the Head of BlackRock’s US Wealth Advisory business and Head of BlackRock’s Retirement business, discusses investing trends among high net-worth clients and why women will soon be the nation's key market drivers. Jaime speaks with Carol Massar and Isabelle Lee on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF. Investors spooked by the implosion of auto lender Tricolor Holdings and car-parts supplier First Brands Group got little reassurance Tuesday from the head of the biggest US bank. “My antenna goes up when things like that happen,” Jamie Dimon, JPMorgan Chase & Co.’s chief executive officer, said on a call with analysts. “I probably shouldn’t say this, but when you see one cockroach, there are probably more. Everyone should be forewarned on this one.” The pair of bankruptcies were a shock for the credit markets, where companies have been borrowing at a record pace while handing investors outsized returns. And Dimon, fresh off posting results that put his bank on track for another record year, said there could be more pain than usual when the economy takes a turn for the worse. In drawing attention to investors’ growing disillusionment with public vehicles that hold private-debt investments, Dimon touched on a niche corner of the market where investors are on the lookout for signs of widening cracks in debt markets. Investors have been fleeing BDCs, seen as a proxy for the $1.7 trillion private-credit market, as they cut distributions available to shareholders. That has opened a widening gap between the broader equity market and private-credit BDC stocks. Last month, the $75 billion non-traded Blackstone Private Credit Fund, the largest in the industry, said it was reducing its shareholder payouts. Today's show features: See omnystudio.com/listener for privacy information.

Lumen Technologies last month announced the successful completion of a repricing transaction of Level 3 Financing, Inc.’s (“Level 3”) $2.4 billion credit facilities at Term SOFR + 3.25%. The new pricing represents a reduction of 100 basis points, resulting in $24 million in annual interest expense savings. Additionally, in connection with the refinancing transaction certain other modifications were made to the covenants in the Credit Agreement to provide additional flexibility to Level 3. Chris Stansbury, Lumen's CFO, discusses the company's debt restructuring and path toward for growth, the sale of its residential-fiber unit to AT&T, and the current state of the telecom space. Chris speaks with Tim Stenovec, Emily Graffeo and Nina Trentmann on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump pressed world leaders gathered at a summit on Gaza’s future to ensure the US-led truce between Israel and Hamas turns into a lasting peace, hailing the agreement as a “new beginning” for the war-torn region. “Today, for the first time anyone can remember, we have a once-in-a-lifetime chance to put the old feuds and bitter hatreds behind us,” Trump said in the Egyptian resort town of Sharm El-Sheikh.” “Together we’re going to forge a magnificent, great and enduring peace.” Trump’s whirlwind trip, which also included a stop in Israel, heightened optimism for ending the two-year-long war between Israel and Hamas. “Together, we’ve achieved what everybody said was impossible. At long last we have peace in the Middle East,” Trump said. “Now the rebuilding begins.” Yet the nascent ceasefire remains fragile, with many key details left to be worked out. Trump said food and aid has begun to flow into Gaza, which has been devastated by the conflict. “Numerous countries of great wealth” have pledged reconstruction funds, Trump added, though he did not name them. Today's show features: See omnystudio.com/listener for privacy information.

Rick Caruso has amassed a $5.8 billion fortune building open-air malls known for their relentlessly cheerful, Disneyfied aesthetic, with dancing fountains and sightseeing trolleys. He moonlighted in local California politics, emerging as a civic fixer for a series of mayors who turned to him when they had a difficult or distasteful task they needed done. Caruso vied for office himself in 2022, spending $107 million of his personal fortune on a run for LA mayor, casting himself as a centrist Democrat who had a businessman’s knack for problem-solving. He lost soundly and seemed to recede from view, a mogul without a public cause to champion. The wildfires that ripped through parts Southern California in January have since thrust Caruso back into the spotlight, with the business mogul blaming the area's response to the fires on local leaders, including Los Angeles Mayor Karen Bass, the progressive who beat him in the 2022 election. Caruso discusses his state's path to economic recovery as well as whether he plans to once again seek political office with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily, which was broadcasting live from Bloomberg Screentime in LA. 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.

Watch Bloomberg Businessweek LIVE every day on YouTube: http://bit.ly/3vTiACF. US President Donald Trump threatened a “massive increase” of tariffs on goods from China and to cancel an upcoming meeting with the country’s leader, Xi Jinping, citing recent “hostile” export controls Beijing placed on rare-earth minerals. “I was to meet President Xi in two weeks, at APEC, in South Korea, but now there seems to be no reason to do so,” Trump posted Friday on social media. The president added that one form of retaliation the US is considering “is a massive increase of Tariffs on Chinese products coming into the United States of America,” adding that “there are many other countermeasures that are, likewise, under serious consideration.” Markets recoiled at the president’s comments, which portended fresh trade tensions between the world’s two largest economies. The S&P 500 and the Nasdaq 100 both plummeted, with the latter seeing its biggest drop since April 30. Chicago soybean futures also fell, hitting session lows after the post. Today's show features: See omnystudio.com/listener for privacy information.

The Digital Wellness Lab at Boston Children’s Hospital conducts rigorous, multi-method research to understand how interactive media impacts the mental, social, and emotional health of children and teens. When it comes to the tech and media industry, the Lab aims to embed what it's learning into the decisions leaders are making every day about product, policy, and user supports to ensure young people’s social, emotional, and mental wellbeing and overall health are at the forefront. Dr. Keneisha Sinclair-McBride, Associate Chief of Integrated Behavioral Health at Boston Children's Hospital and Assistant Professor of Psychology at Harvard Medical School, discusses the impact of social media on adolescent minds 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. Jared Isaacman and President Donald Trump have met in recent weeks and discussed reviving the fintech billionaire’s nomination to lead NASA, according to a person familiar with the matter. A decision to reconsider the Elon Musk ally would mark a major reversal for Trump after the White House revoked the job offer in May citing Isaacman’s ties to Democratic politicians. That left NASA without a long-term leader as the space agency grapples with funding and job cuts and races to bring astronauts back to the moon. Trump has met with Isaacman, a SpaceX astronaut and executive chairman of Shift4 Payments Inc. in person more than once in recent weeks to discuss his vision for leading the space agency, the person said, speaking on condition of anonymity because the matter is confidential. The person cautioned that Trump hasn’t made a final decision and could go in a different direction. The role of NASA administrator also requires confirmation by the US Senate. Today's show features: See omnystudio.com/listener for privacy information.

Rubrik CEO Bipul Sinha believes that artificial intelligence is creating "one hundred times more opportunities," but with "one hundred times more risk" for cybersecurity clients. He joined Scarlet Fu and Norah Mulinda on 'Bloomberg Businessweek Daily' to discuss balancing AI innovation with data privacy. See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Several participants at the Federal Reserve’s September policy meeting said it was important to continue monitoring money-market conditions and evaluate how close bank reserves are to their “ample” level, as the central bank continues to unwind its massive portfolio of securities. The remarks come as prolonged funding pressures in US money markets, just as bank reserves held at the Fed are dwindling, are suggesting the central bank may be getting closer to ending its balance sheet runoff. A few participants noted that the Standing Repo Facility — the Fed’s liquidity backstop — would help keep the federal funds rate within its target range and ensure that temporary pressures in money markets wouldn’t disrupt the ongoing balance-sheet reduction, according to the minutes of the Sept. 16-17 gathering released Wednesday. Today's show features: See omnystudio.com/listener for privacy information.