Bloomberg Businessweek

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. The last full trading week of 2025 started with stocks, bonds and the dollar wavering as Wall Street geared up for key economic data that will help shape the Federal Reserve rate outlook. On the eve of the jobs report, the S&P 500 closed mildly lower. A renewed tech slide saw Broadcom Inc. posting its worst three-day plunge since 2020. Oracle Corp. extended its multi-session selloff to about 17%. A rout in cryptocurrencies also kept a lid on riskier assets. Treasury two-year yields edged down amid bets the Fed will cut rates twice next year to support the job market even as inflation shows signs of stickiness. The dollar barely budged, but closed at the lowest since October. Following the Fed’s latest decision to slash rates, the November jobs report — due on Tuesday — is expected to show a sluggish labor market. The reading will also include an estimate of October payrolls — figures that were delayed by the federal shutdown. See omnystudio.com/listener for privacy information.

UiPath is a leader in agentic automation, empowering enterprises to harness the potential of AI agents to autonomously execute and optimize complex business processes. The company says its platform combines controlled agency, developer flexibility, and seamless integration to help organizations scale agentic automation safely and confidently, and that it supports enterprises as they transition into a future where automation delivers on the full potential of AI to transform industries. Ashim Gupta, the CFO and COO of UiPath, discusses the firm's wide-ranging customer base and the key drivers behind the rally in its share price in 2025. Ashim speaks with Carol Massar, Tim Stenovec and Bloomberg News Senior Editor Nina Trentmann on Bloomberg Businessweek Daily. 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 Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Wall Street traders took profits on the year’s biggest artificial intelligence winners, dragging global gauges back from the brink of record highs. Longer-dated bond yields climbed. A disappointing sales outlook from Broadcom Inc. sent the chipmaker tumbling 11% and weighed on rivals, further fueling investor anxiety over AI wagers initially prompted by Oracle Corp. The AI bellwether’s stock drop started Thursday following a forecast for rising capital outlays and a longer timeline to a revenue payoff. The slump deepened Friday on a report of delays to some of Oracle’s data center projects. Shares of companies tied to the AI power infrastructure also slid. The Nasdaq 100 dropped 1.9% while The S&P 500 fell 1.1% after the index had notched a record close in the previous session. The Dow Jones Industrial Average and Russell 2000 pulled back from all-time highs. The selloff put a damper on the ebullience sparked by the Federal Reserve’s third-straight interest rate cut this week. Investors also had to contend with mixed messages from Fed officials after they left their outlook for a single cut in 2026 intact. Today's show features: See omnystudio.com/listener for privacy information.

Aptera Motors Corp. was formed in 2019. The company's principal business is the development, production, and distribution of energy efficient solar-powered, battery-electric vehicles. Management anticipates that the Aptera vehicle will provide up to an estimated 40 miles per day and 11,000 miles per year of solar powered driving by collecting energy from the sun and storing it in its proprietary battery pack. Each vehicle is designed to have over three-square meters of embedded solar panels. In addition, the Aptera vehicle twill charge from either a standard home electrical outlet or by using the North American Charging Standard “NACS” connector. Chris Anthony, the Co-Chief Executive Officer of Aptera, discusses his company’s performance since its October direct listing, as well as its plans to begin mass-production of its solar-powered cars. Chris speaks with Carol Massar and Matt Miller on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Hollywood has a rich history of personal vendettas, political discord and uncertain loyalties shaping the industry. It just usually doesn’t involve the US president. Donald Trump’s declaration that he will involve himself in the proposed sale of Warner Bros. Discovery Inc. has thrust an already tumultuous battle between Netflix Inc. and Paramount Skydance Corp. over some of the crown jewels of Tinseltown into uncharted waters. The decision to inject himself is particularly extraordinary given Trump’s own conflicts and interests, according to legal experts. Trump has already signaled one personal precondition for a sale: new ownership of longtime bogeyman CNN, in a bid to exert more favorable coverage from the cable network. But the connections don’t stop there for a president who considers himself the dealmaker-in-chief. Trump’s son-in-law and former aide, Jared Kushner, has helped arrange financing for Paramount chief David Ellison, whose father, Larry Ellison, is a longtime donor and supporter. The president has received entreaties from both sides. Netflix co-Chief Executive Officer Ted Sarandos has mounted a charm offensive of his own, meeting repeatedly with Trump and even chatting about how the first family were “big fans” of the streamer. The tech giant has spent recent months expanding its lobbying operation in Washington, seeking to boost its influence across a city now controlled by Trump and his allies. Today's show features: See omnystudio.com/listener for privacy information.

Lifeway Foods is America's leading supplier of the probiotic, fermented beverage known as kefir. In addition to its line of drinkable kefir, the company also produces a variety of cheeses as well as a line of products for kids. Lifeway's fermented dairy products are sold across the United States, Mexico, Ireland, South Africa, United Arab Emirates, and France. Julie Smolyansky, the publicly-traded firm's CEO, discusses her company’s most recent earnings report and recent announcement that is its cheese products will expand into 2,000 Walmart stores across the US. Julie 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 delivered a third consecutive interest-rate reduction and maintained their outlook for just one cut in 2026. The Federal Open Market Committee voted 9-3 Wednesday to lower the benchmark federal funds rate by a quarter point to a range of 3.5%-3.75%. It also subtly altered the wording of its statement suggesting greater uncertainty about when it might cut rates again. Speaking to reporters after the meeting, Chair Jerome Powell suggested the Fed had now done enough to bolster the threat to employment while leaving rates high enough to continue weighing on price pressures. When asked if it were a foregone conclusion that the Fed’s next move would be a cut, Powell demurred, but added that he didn’t see a rate hike as any official’s base case. Today's show features: See omnystudio.com/listener for privacy information.

Bloomberg's Tom Keene 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 delivered a third consecutive interest-rate reduction and maintained their outlook for just one cut in 2026. The Federal Open Market Committee voted 9-3 Wednesday to lower the benchmark federal funds rate by a quarter point to a range of 3.5%-3.75%. It also subtly altered the wording of its statement suggesting greater uncertainty about when it might cut rates again. Speaking to reporters after the meeting, Chair Jerome Powell suggested the Fed had now done enough to bolster the threat to employment while leaving rates high enough to continue weighing on price pressures: “This further normalization of our policy stance should help stabilize the labor market while allowing inflation to resume its downward trend toward 2% once the effects of tariffs have passed through,” he said. See omnystudio.com/listener for privacy information.

Bloomberg's Tom Keene and Lisa Abramowicz break down the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance. See omnystudio.com/listener for privacy information.

Morgan Stanley Real Estate Investing (MSREI) is the global private real estate investment management business of Morgan Stanley. Considered one of the most active property investors in the world for over three decades, the company boasts 17 offices throughout the US, Europe and Asia that house regional teams of dedicated real estate professionals with local presence and significant transaction execution expertise. Lauren Hochfelder, Co-Chief Executive Officer of Morgan Stanley Real Estate Investing and Head of MSREI Americas, explains why she believes her sector is poised for its next upcycle heading into 2026. Lauren 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. SpaceX is moving ahead with plans for an initial public offering that would seek to raise significantly more than $30 billion, people familiar with the matter said, in a transaction that would make it the biggest listing of all time. The Elon Musk-led company is targeting a valuation of about $1.5 trillion for the entire company, which would leave SpaceX near the market value that Saudi Aramco established during its record 2019 listing. The oil major raised $29 billion at the time. SpaceX’s management and advisers are pursuing a listing as soon as mid-to-late 2026, said some of the people, who declined to be identified because the matter is confidential. The timing of the IPO could change based on market conditions and other factors, and one of the people said the timing could slip until 2027. A representative for SpaceX didn’t immediately respond to a request for comment. Bloomberg and other media reported on Friday that SpaceX is exploring a possible IPO as soon as late next year. Musk and the company’s board of directors advanced plans for the listing and fundraising — including hiring for key roles and how it would spend the capital — in recent days as SpaceX firmed up its latest insider share sale, one of the people said. SpaceX’s faster path to public markets is in parts fueled by the strength of its fast-growing Starlink satellite internet service, including the promise of a direct-to-mobile business, as well as the development of its Starship moon and Mars rocket. Today's show features: See omnystudio.com/listener for privacy information.

James D. White is a seasoned corporate leader with over thirty years' experience in the consumer products, retail, and restaurant industries. As CEO of Jamba Juice from 2008–2016, he led the successful turnaround and transformation of the company. He is an experienced corporate director and adviser with twenty years of experience serving on more than fifteen public and private boards. White currently chairs the board of the Honest Company. James explains why he believes that culture is essential building block for an organization’s success, and details his new book, "Culture Design: How to Build a High-Performing, Resilient Organization with Purpose," which he co-wrote with his daughter, Krista. James speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF. The fight over the future of Hollywood just got nastier. Paramount Skydance Corp. launched a hostile takeover bid for Warner Bros. Discovery Inc. at $30 a share in cash on Monday, just days after the company agreed to a deal with Netflix Inc. The offer values Warner Bros. at $108.4 billion, including debt. The bid compares with Netflix’s offer of $27.75 in cash and stock, for an enterprise value of about $82.7 billion including debt. Paramount’s offer is for all of Warner Bros., while Netflix is interested only in the Hollywood studios, HBO and the streaming business. Warner Bros. investors “deserve an opportunity to consider our superior all-cash offer for their shares in the entire company,” Paramount Chief Executive Officer David Ellison said in a statement. The battle between Netflix and Paramount stands to reshape the entertainment industry regardless of who wins. With Warner Bros. films and TV shows, Netflix would wield tremendous new power over the content offered to online audiences. Paramount aims to marry two legacy Hollywood studios to counter the influence of Netflix, Walt Disney Co. and Amazon.com Inc. Both bids raise significant antitrust concerns, underscored by multibillion-dollar breakup fees the parties have offered, and both companies have been laying the groundwork to win over the White House. Today's show features: See omnystudio.com/listener for privacy information.

Compass Pathways is a mental health care company developing new treatments for people who haven’t responded to existing medications and continue to struggle with their mental health. The company was the first to report successful Phase 3 clinical trial results for a psychedelic treatment, known as COMP360 psilocybin, for treatment-resistant depression (TRD) and is positioned to potentially be the first to receive regulatory approval and bring a psychedelic-based medicine to market. Kabir Nath, the CEO of Compass Pathways, details his company's path building a scalable, safe, and accessible psychedelic care system and model. Kabir speaks with Carol Massar and Alexis Christoforous on Bloomberg Businessweek Daily. 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 every day on YouTube: http://bit.ly/3vTiACF. Netflix Inc. agreed to buy Warner Bros. Discovery Inc., marking a seismic shift in the entertainment business as a Silicon Valley-bred streaming giant tries to swallow one of Hollywood’s oldest and most revered studios. Under terms of the deal announced Friday, Warner Bros. shareholders will receive $27.75 a share in cash and stock in Netflix, valuing the business at $82.7 billion including debt. The total equity value of the deal is $72 billion. Warner Bros. will spin off cable networks such as CNN and TNT into a separate company before concluding the sale of its studio and HBO to Netflix. Media mergers of this scale have a rocky history and this one is expected to bring intense regulatory scrutiny in the US and Europe. Paramount Skydance Corp., which accused Warner Bros. of running an unfair sales process, could also take steps to disrupt the transaction, like by taking an offer directly to shareholders. The company declined to comment. The Netflix deal combines two of the world’s biggest streaming providers with some 450 million subscribers. Warner Bros.’ deep library of programming gives Netflix content to sustain its lead over challengers like Walt Disney Co. and Paramount. Today's show features: See omnystudio.com/listener for privacy information.

Dr. Nupoor Narula, MD, MSc is the Bruce Lerman Clinical Scholar, cardiologist, and Director of the Cardiology Vascular Laboratory and Women’s Heart Program at Weill Cornell Medicine. An NIH-funded physician-investigator, her clinical and research interests include genetic aortic diseases and aortic aneurysms and dissections, with a special emphasis on these conditions in women and pregnancy. Dr. Narula recently received funding from the National Institutes of Health for her research on aortic aneurysms, and the NIH continues to fund related research in the area of women's heart health, which may signal a greater appetite to invest in, and prioritize an increasingly important clinical need. Dr. Narula details her work on cardiac risks to women, particularly during pregnancy, with Carol Massar and Alexis Christoforous on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF. Meta Platforms Inc.’s Mark Zuckerberg is expected to meaningfully cut resources for building the so-called metaverse, an effort that he once framed as the future of the company and the reason for changing its name from Facebook Inc. Executives are considering potential budget cuts as high as 30% for the metaverse group next year, which includes the virtual worlds product Meta Horizon Worlds and its Quest virtual reality unit, according to people familiar with the talks, who asked not to be named while discussing private company plans. Cuts that high would most likely include layoffs as early as January, according to the people, though a final decision has not yet been made. Savings from the metaverse cuts are expected to funnel toward other futuristic projects within Meta’s Reality Labs division, including AI glasses and other wearables, according to people familiar with the plans. The proposed metaverse cuts are part of the company’s annual budget planning for 2026, which included a series of meetings at Zuckerberg’s compound in Hawaii last month, the people said. Zuckerberg has asked Meta executives to look for 10% cuts across the board, which has been the standard request during similar budget cycles the past few years, they added. Today's show features: See omnystudio.com/listener for privacy information.

Holland, Michigan-based CraftCo. Brands has a diverse portfolio of craft spirits comprised of more than 30 spirits and liqueurs across the bourbon, gin, vodka, rye, and ready-to-drink categories. However, Bloomberg Intelligence notes that the use of weight-loss drugs stand to deepen alcohol's demand slump in the US and Europe, as moderation and wellness trends gain ground. Ali Anderson, the CEO of CraftCo., discusses the outlook for the spirits industry for 2026 and beyond, as well as changing consumer habits when it comes to consumption levels. Ali speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.