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. The Ontario government plans to stop running the anti-tariff advertisement that irked President Donald Trump after airing it during broadcasts of baseball’s World Series. The government-funded ad, which featured excerpts of late US President Ronald Reagan criticizing tariffs, will stop appearing after Friday and Saturday’s games, following Trump’s criticism of it, Ontario Premier Doug Ford said in a post on the social media network X. “Our intention was always to initiate a conversation about the kind of economy that Americans want to build and the impact of tariffs on workers and businesses,” Ford wrote. “We’ve achieved our goal, having reached US audiences at the highest levels.” Ford said that, following a conversation with Prime Minister Mark Carney, he’d pause the ad starting Monday “so that trade talks can resume.” The White House didn’t immediately respond to a request for comment. Trump posted angrily about the television commercial, which played in some Republican-held regions of the US, saying Reagan’s comments were fraudulently used and that he would halt trade talks because of it. Today's show features: See omnystudio.com/listener for privacy information.

The Division of Genetics and Genomics at Boston Children’s Hospital provides comprehensive clinical care including diagnostics, genetic counseling, and individualized management in concert with other specialties for people of all ages. As one of the largest pediatric genetics practices in the country, this key division of BCH has experience with both common conditions and very rare conditions affecting just a few hundred children in the world. Dr. Wendy Chung, Chief of Pediatrics at Boston Children's Hospital as well as Harvard Medical School's Mary Ellen Avery Professor of Pediatrics, explains how her team finds answers for some of the most complex and hard-to-diagnose genetic conditions, sometimes applying new technologies through our research labs when existing genetic tests are negative or inconclusive. Dr. Chung 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. Basketball player Terry Rozier told a friend in 2023 that he planned to take himself out of a game early with a minor injury. The friend, Deniro Laster, used the tip to place more than $200,000 in bets predicting Rozier would fall short of his usual point total. By the next morning, prosecutors say, the two men were counting their winnings together in Rozier’s home. The Charlotte Hornets guard at the time played just nine minutes against the New Orleans Pelicans and checked out.That incident, described in a federal indictment unsealed on Thursday in Brooklyn, now sits at the center of one of the most sweeping sports gambling cases ever brought by the US Justice Department — one that stretches from locker rooms to underground poker clubs controlled by New York’s biggest mafia families. Rozier, now with the Miami Heat, and Portland Trail Blazers head coach Chauncey Billups were arrested Thursday morning and charged as part of two separate criminal schemes related to illegal sports betting, federal prosecutors said. Soon after the arrests, Rozier and Billups were placed on immediate leave from their teams.FBI Director Kash Patel and Brooklyn federal prosecutors said at least 30 people were arrested across 11 states, including current and former National Basketball Association players and coaches. Today's show features: See omnystudio.com/listener for privacy information.

Northwind Group is a real estate private equity firm in Manhattan that has transacted on over $5.6 billion of debt and equity investments in residential, commercial, senior living & healthcare properties. The company says it invests on its own balance sheet through discretionary closed-ended managed funds, focused on generating strong risk-adjusted returns while maintaining rigorous investment criteria. Ran Eliasaf founded Northwind Group in 2008 and oversees all company investment activities as the company's Managing Director. He examines how the ongoing government shutdown is impacting movement in commercial real estate and explains why he believes 2025 will be a record year for private lenders with Carol Massar and David Gura on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Tesla Inc.’s third-quarter profit fell short of Wall Street’s expectations despite record electric-vehicle sales, a sign of the pressure automakers are facing from shifting federal policies and rising costs. Adjusted earnings were 50 cents per share in the period, the company said Wednesday in a statement. Analysts had expected 54 cents on average in estimates compiled by Bloomberg. Revenue was $28.1 billion, outpacing expectations. The company reiterated language from the previous quarter that it’s “difficult to measure” how shifting global trade and fiscal policies would impact its businesses and operations. Tesla sees results hinging on the broader economic environment as well as its speed in accelerating autonomy efforts and ramping up production for key products. Tesla warned it still faces “near-term uncertainty from shifting trade, tariff and fiscal policy,” but it’s investing in future business lines, including robotics. Analysts surveyed by Bloomberg expect Tesla to report a second year in a row of declining vehicle deliveries. Today's show features: See omnystudio.com/listener for privacy information.

Founded in 1865, Faribault Mill produces handcrafted blankets, decorative throws, apparel, and accessories. From providing woolen blankets for pioneers heading west and comforting US troops through two world wars, to contemporary products, the company's products are all made in the United States. Ross Widmoyer, the company's president and CEO, discusses his firm's rich history and the value proposition of a product line that's free from tariffs and other geopolitical impediments. Ross speaks with Carol Massar and Isabelle Lee on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Netflix Inc. said a tax dispute with Brazil cut into third-quarter earnings, marring results that otherwise fell in line with Wall Street estimates. The world’s most valuable entertainment company posted quarterly operating income of $3.24 billion, according to a statement Tuesday, about $400 million below its own forecast and analysts’ estimates. The company’s outlook for the current quarter is largely in line with Wall Street projections. Netflix had to pay about $619 million to settle a multiyear tax dispute with Brazilian authorities going back to 2022. The company had identified the potential risk in previous filings – but not in its earnings guidance — and said it would have beaten forecasts if not for the expense. Future payments will be smaller. “We don’t expect this matter to have a material impact on future results,” the company said. Today's show features: See omnystudio.com/listener for privacy information.

Hannah Elsakr, VP & Head of GenAI Ventures at Adobe joins to discuss the establishment of Adobe Foundry Services, which enables businesses to work directly with Adobe and create tailored generative AI models and videos. Hosted by Carol Massar and Tim Stenovec See omnystudio.com/listener for privacy information.

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.