Bloomberg Businessweek

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump ramped up his threats ahead of a deadline he’s imposed for Iran to re-open the Strait of Hormuz or face further attacks on civilian infrastructure, while Tehran rejected a ceasefire proposal. “The entire country can be taken out in one night, and that night might be tomorrow night,” Trump said in a press conference Monday at the White House, in an apparent reference to his ultimatum to Iran that expires at 8 p.m. on Tuesday. “Every bridge in Iran will be decimated, by 12 o’clock tomorrow night,” Trump said. “Every power plant in Iran will be out of business, burning, exploding and never to be used again,” he added, noting that “it’ll happen over a period of four hours, if we wanted to. We don’t want that to happen.”Trump told reporters earlier on Monday that it was “highly unlikely” that he’d move the deadline again. Iran, meanwhile, reportedly passed to mediator Pakistan a rejection of a ceasefire proposal.  The regime demanded a permanent end to the war, lifting of sanctions, and reconstruction efforts, in addition to protocol for safe passage through Hormuz, according to the state-run Islamic Republic News Agency. The rejection is the latest blow to efforts to end the month-long war that has triggered a global energy crisis. US allies are reportedly pressing for a last-minute deal with Iran, as Trump extended his deadline to Tuesday for Tehran to reopen the vital waterway. Trump during his press conference noted that free traffic of oil in Hormuz must be part of any deal to end the war. Today's show features: Dan Williams, Bloomberg News Middle East Reporter Alex Vatanka, Senior Fellow at the Middle East Institute Will Kubzansky, Bloomberg News Refined Products Reporter Drive to the Close with Nanette Abuhoff Jacobson, Global Investment Strategist at Hartford Funds See omnystudio.com/listener for privacy information.

Capitalism For All: Inclusive Economics and the Future-Proofing of America by John Hope Bryant presents a revolutionary framework for rebuilding American prosperity through economic inclusion rather than division. As the founder and CEO of Operation HOPE, America's first non-profit social investment banking organization, and a former vice-chairman of the President's Advisory Council on Financial Literacy, Bryant brings decades of frontline experience empowering underserved communities. This book addresses America's growing economic inequality and social fragmentation by demonstrating how inclusive capitalism – not exclusionary policies – can restore the middle class, revitalize the American Dream, and maintain our position as the world's leading economy.John Hope Bryant joins Bloomberg Businessweek to discuss how expanding rather than contracting our middle class strengthens national security and economic competitiveness and how inclusive economics positions America as a beacon of opportunity and strengthens our international influence.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 StenovecHear 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 @BWSee omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy.Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Attorney General Pam Bondi is leaving her post as head of the US Justice Department, ending a tumultuous tenure as the nation’s top law enforcement official after some high-profile stumbling blocks in her efforts to carry out President Donald Trump’s agenda.“We love Pam, and she will be transitioning to a much needed and important new job in the private sector, to be announced at a date in the near future, and our Deputy Attorney General, and a very talented and respected Legal Mind, Todd Blanche, will step in to serve as Acting Attorney General,” Trump said in a post on Truth Social.In choosing Blanche to serve as acting attorney general, Trump has elevated another one of his former defense lawyers to be the nation’s chief law enforcement officer.Blanche served as Trump’s defense attorney in criminal cases relating to the 2020 election, his handling of classified documents and alleged hush-money payments.Blanche can serve in the acting role for 210 days under a federal law for filling vacancies while the Senate considers whoever Trump nominates to be confirmed as attorney general.The president has discussed Environmental Protection Agency Administrator Lee Zeldin as a potential replacement for Bondi, according to people familiar with the matter.Today's show features: Jeff Mason Bloomberg News Washington and White House Correspondent & Matthew Seligman, Grayhawk Law Founder Ira Jersey, Bloomberg Intelligence Chief US Interest Rate Strategist and Robert Tipp, PGIM Fixed Income Managing Director, Chief Investment Strategist, and Head of Global Bonds  Olivia Fishlow, Bloomberg News Leveraged Finance Reporter and James Crombie, Bloomberg News Senior Editor for Credit on latest in private credit sector Jessica Rosenworcel, Executive Director of the MIT Media Lab and former Chair of the FCC See omnystudio.com/listener for privacy information.

Firms lobby public institutions even when associations they are members of are lobbying those same institutions. This is what we conceptualize as ‘parallel lobbying’. Firms engage in parallel lobbying to monitor associations they are members of, reinforce the message delivered by the associations, provide additional or nuanced information that goes beyond the lowest common denominator, or even to break ranks from the collective position and signal a different message to the one provided by the association. Regardless of what the rationale behind these parallel meetings is, this article intends to bring new light into this phenomenon by examining the extent to which parallel lobbying occurs at the EU level and, more importantly, unveiling what firm – and association-level characteristics explain why firms exercise parallel lobbying.Angel Saz, Professor at Ramon Lulull University and Director of EsadeGeo – Centre for Global Economy and Geopolitics, a leading B-school in Spain, discusses his work in parallel lobbying and how it is playing out in the world of global business. He speaks with Bloomberg's Carol Massar, Tim Stenovec, and Bloomberg Businessweek Senior Editor Dimitra KessenideSee omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. NASA astronauts are poised to lift off Wednesday on a 10-day journey that will slingshot them around the moon, marking humanity’s return to the lunar vicinity for the first time in more than half a century. The crew’s Lockheed Martin Corp.-built Orion capsule, perched atop the Boeing Co.-made Space Launch System rocket, is set to launch at 6:24 p.m. local time from Kennedy Space Center in Florida. The mission is a crucial, in-space dress rehearsal for the long-delayed SLS rocket and Orion capsule, and marks the biggest milestone yet in NASA’s multi-year Artemis campaign to land humans on the moon as soon as 2028. If the mission launches on schedule, the four-person crew will travel farther in space than anyone in history. President Donald Trump’s NASA administrator, Jared Isaacman, and former astronaut and US Senator Mark Kelly attended the send-off.Earlier, European Space Agency Director General Josef Aschbacher joined other NASA officials, lawmakers and industry executives walking the press site, conducting interviews. TV outlets set up white tents on the lawn outside to capture the giant SLS rocket standing a few miles away.Today's show features: Ed Ludlow, Bloomberg Tech Co-Host on NASA's Artemis II Launch Rebecca Homkes, Lecturer at the London Business School and Faculty at Duke Corporate Executive Education Andrew Szczurowski, Morgan Stanley Investment Management Strategic Income Portfolio Manager Ben Gagnon, Bitfarms CEO on Bitfarms Officially Rebrands as Keel Infrastructure; Completes U.S. Redomiciliation See omnystudio.com/listener for privacy information.

More and more Americans are turning to consumer AI platforms for medical information. Until now, those educational conversations with AI have taken place outside of the healthcare system. Without access to the user’s private and secure medical information, educational information provided by the AI tool may not be as meaningful to the user. Today, Harford HealthCare and K Health announced the launch of PatientGPT, the nation’s first AI system with the ability to securely access the user’s medical record. PatientGPT, accessible right within the Hartford HealthCare patient portal and app, is rolling out as a beta version for a limited number of patients to try.Jeff Flaks is the President and Chief Executive Officer of Hartford HealthCare, a $7.0-billion enterprise that cares for more than 27,000 people daily. Allon Block co-founded K Health after being inspired by his own frustration with the U.S. healthcare system to build a better solution. They speak with Bloomberg's Carol Massar and Tim Stenovec.See omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy.Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.US President Donald Trump called on other nations to wrest control of the Strait of Hormuz as Iran maintained missile fire across the Persian Gulf, expressing his frustration that the monthlong war remains unresolved.Countries that can’t get energy supplies due to the effective closure of the vital waterway should “go to the Strait and just TAKE IT,” Trump said in a social-media post on Tuesday.“You’ll have to start learning how to fight for yourself” as the US “won’t be there to help you anymore,” he added, the latest sign he’s looking to exit a conflict that’s triggered a surge in oil and gas prices and stoked fears of a global economic crisis. “Go get your own oil!” he added.Stocks climbed and oil prices fell on hopes that both US and Iran might be looking for a way out of the war. WTI Crude was trading around $101 a barrel, travel stocks climbed and the S&P Energy Index turned negative, giving up an earlier gain of as much as 1.4%.Those moves came after Iran’s state news agency reported a phone call between European Union Council President Antonio Costa and President Masoud Pezeskhian, who said the Islamic Republic has “the necessary will to end this war,” but only with guarantees “to prevent the recurrence of aggression.” It wasn’t immediately clear if his comments represent a change in Tehran’s position.Tehran kept up strikes on Israel and countries around the Persian Gulf, including the United Arab Emirates and Saudi Arabia, with one attack hitting a large Kuwaiti oil tanker off the coast of Dubai. That was one of the most significant assaults on shipping since the US and Israel began bombarding the Islamic Republic on Feb. 28.Today's show features: Jennifer Welch, Bloomberg Economics Chief Geoeconomics analyst on state of ongoing Iran negotiations as Trump calls on allies to seize Hormuz as frustration mounts Peter Atwater, Financial Insyghts President & Adjunct Lecturer of Economics at the College William & Mary on K-Shaped economy amid Iran shocks Loren Grush, BN Space Reporter on Artemis II launch Stew Leonard Jr., Stew Leonard's President & CEO on consumer pressures in the grocery aisle amid Iran, pricier Easter & Passover tables See omnystudio.com/listener for privacy information.

Mandy Oser is the owner of Ardesia in Hell’s Kitchen, a neighborhood wine bar she opened in the Fall of 2009 as a place where both those with a deeper knowledge of wine as well as novices can find a selection that will satisfy. She discusses the wine industry, how many are male dominated but highlighting women wineries owned and made by woman. And the increase of wine sales this month.See omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy.Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.The White House threatened further escalation of attacks on Iran, including critical civilian energy infrastructure, as the fifth week of war jolts global markets with little sign of relief.President Donald Trump earlier on Monday posted on social media that if Tehran doesn’t re-open the Strait of Hormuz, “we will conclude our lovely ‘stay’ in Iran by blowing up and completely obliterating” electricity plants, oil facilities and “possibly” desalination infrastructure.Trump has regularly vacillated between saying a deal with Iran is imminent and warning he’s prepared to increase the military tempo. The threat to water facilities would constitute a war crime as defined by the Geneva Conventions. White House Press Secretary Karoline Leavitt said the US is “conducting more intense, targeted strikes with devastating combat power with each passing day” and the US operations are proceeding “according to plan,” even as she echoed the president in saying talks are on track. The administration hasn’t identified which Iranian officials it’s dealing with, directly or indirectly.Despite the mystery surrounding peace talks, Leavitt said the Iranians were “increasingly eager” to negotiate and agreed to “some of the points” that the US has put forward to end the conflict. Iran has consistently said peace talks aren’t progressing and has signaled it can carry on fighting for much longer.Today's show features: Maj. Gen. Mastin Robeson, Academy Securities Florian Ielpo, Head of Macro at Lombard Odier Investment James Walker, CEO of NANO Nuclear Drive to the Close with Rob Haworth, Senior Investment Strategy Director at US Bank Asset Management See omnystudio.com/listener for privacy information.

In 2017, a small crew gathered in a windowless Pentagon room to put AI at the heart of how America makes war. Led by Drew Cukor, an unyielding Marine Corps colonel driven by the deaths of US troops and the prospect of war with an AI-equipped China, the Project Maven team raced to send AI into combat, igniting controversy and forever changing the US military. Summoning the mayhem of a tech startup, the Maven team wrestled Pentagon bureaucrats and each other. They enlisted an initially reluctant Silicon Valley, supercharged the growth of Palantir, and sent algorithms made by Amazon, Microsoft, and others into hot wars. Maven fielded technology to identify targets at speed and scale, developed AI-infused command systems, and learned where AI fails.Katrina Manson, Bloomberg News Reporter covering technology and national security, talks about her book Project Maven: A Marine Colonel, His Team, and the Dawn of AI Warfare.See omnystudio.com/listener for privacy information.

If you want to build a diversified portfolio, you need to assemble assets that respond to different return drivers. Digital assets can play a central role. For starters, cryptocurrencies like bitcoin behave differently than traditional equities or commodities, giving portfolios exposure to unique sources of risk and return. And within the crypto universe, you can find coins, protocols, and equities that all behave differently under different market conditions. By investing in a wide range of digital assets you can potentially both mitigate risk and improve returns.  This episode is sponsored by Coinbase.See omnystudio.com/listener for privacy information.

This is a special presentation of Businessweek Convenes, a series dedicated to bringing together prominent leaders for frank discussions on vital, often sensitive subjects. In this episode, we delve into a crucial topic: the state of Black leadership in corporate America amid the rollbacks to diversity, equity, and inclusion initiatives across the country. Bloomberg's Romaine Bostick leads this discussion with prominent business and finance veterans Ursula Burns, Nicole Reboe, Jacob Walthour, Jr., Lisa Wardell, and Chris Williams.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 StenovecHear 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 @BWSee omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy.Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.The Trump administration is signaling to allies that it has no immediate plans for a ground invasion of Iran, even as it deploys thousands of troops to the Middle East, people familiar with the matter said. The people, who asked not to be identified discussing private deliberations, cautioned that President Donald Trump could change his mind at any moment or go ahead with an attack. They said the troops could serve a variety of roles, including to help with evacuations of American citizens but also to create a sense of strategic ambiguity about US intentions.Secretary of State Marco Rubio said Friday the US can achieve its objectives in Iran without the use of ground troops but their presence gives Trump options.“The president has to be prepared for multiple contingencies, which I’m not going to discuss in the media,” Rubio told reporters. “We can achieve all of our objectives without ground troops. But we are always going to be prepared to give the president maximum optionality and maximum opportunity to adjust to contingencies should they emerge.”A White House official, who requested anonymity to describe internal thinking, said it’s the Pentagon’s job to develop plans to give the president optionality, and noted that Trump has previously said he has no plans to send ground troops anywhere at this time. The official said Iran will be hit harder than ever before if they fail to make a deal.Today's show features: Iain Marlow, Bloomberg News National Security Editor Spencer Faragasso, Senior Fellow with the Institute for Science and International Security on Iran's stocks of highly enriched uranium Dimitra Kessenides, Bloomberg Businessweek Senior Editor and Professor Angel Saz, Director of EsadeGeo – Centre for Global Economy and Geopolitics, a leading B-school in Spain Drive to the Close with Mark Luschini, Chief Investment Strategist, President and Chief Investment Officer, Janney Capital Management See omnystudio.com/listener for privacy information.

As U.S. companies reassess exposure to tariffs and trade volatility and pull back on international expansion, Bermuda remains a steady destination for U.S. private wealth and business investment. Bermuda’s leading industry clusters are 90%+ dominated by professional services sectors including risk and insurance, digital finance, and private wealth management. David Parker, Bermuda Business Development Agency (BDA) Head of Business Development, discusses how the jurisdiction has become a competitive region in the global financial and tech markets -- often cited as a “regulatory sandbox” for innovation, modernization and clear neutrality.See omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. US President Donald Trump sent conflicting signals on the prospect that talks with Iran would bring a halt to the nearly month-long war, further roiling global energy markets.“I say they’re lousy fighters, but they’re great negotiators, and they are begging to work out a deal,” Trump said Thursday during a Cabinet meeting at the White House. “I don’t know if we’ll be able to do that. I don’t know if we’re willing to do that,” he said, and separately threatened to intensify military action if talks failed. Asked whether his five-day deadline for a deal would be extended, the US president was blunt: “I don’t know yet.”Trump said special envoys Steve Witkoff and Jared Kushner, as well as Vice President JD Vance “will tell me whether or not they think it’s going along.” He added “we have a lot of time” before the deadline, issued Monday morning in Washington, expires. “It’s a day. In Trump time, a day, you know what it is? That’s an eternity,” he added.Oil prices surged, with optimism fading of a quick resolution to the conflict. Brent crude climbed 6% to more than $108 a barrel, while stocks and bonds fell worldwide. Today's show features: Michelle Jamrisko, Bloomberg News White House and National Security Editor on latest from US war with Iran Len Tannenbaum, Founder of Tannenbaum Capital Group (TCG), on private credit and real estate credit markets Amy Rubenstein, CEO at Clear Investment Group on real estate market Axel Merk, President and Chief Investment Officer at Merk Investments on the Gold Market See omnystudio.com/listener for privacy information.

The patient-provider relationship is at the heart of healthcare. But that relationship is starting to shift. There's a new presence in the exam room. One that lives on patents' phones, shows up before the visit begins, and too often stays hidden. It's artificial intelligence.Oliver Kharraz is Founder and CEO of Zocdoc, the healthcare access infrastructure that connects patients to health care. He discusses why patients are turning to AI, why many are not disclosing AI use and the future of care given the support of patient AI use from doctors.See omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. The White House insisted that peace talks with Iran are ongoing, even as Tehran publicly rejected US overtures and issued fresh conditions of its own to end the conflict that’s wreaked havoc across the Middle East and global markets. “The United States has been engaged over the last three days in productive conversations,” White House Press Secretary Karoline Leavitt told reporters on Wednesday. “You’re beginning to see the regime look for an exit ramp.”“If Iran fails to accept the reality of the current moment,” Leavitt added, “Trump will ensure they are hit harder than they have ever been hit before. President Trump does not bluff and he is prepared to unleash hell.” Her comments ran counter to Iran’s earlier statements through state-run media publicly rejecting Trump’s push for talks. Tehran is also seeking its own guarantees, including that the US and Israel won’t resume their attacks, reparations for war damages and recognition of its authority over the Strait of Hormuz, state-owned Press TV said. Trump on Monday set a five-day deadline for Iran to negotiate a deal to end the war. Halfway through that period, there are lingering questions over the status of negotiations and the likelihood for a deal. The US has compiled a 15-point peace proposal that Pakistan delivered to the Islamic Republic, according to people familiar with the matter, highlighting the urgency within Trump’s administration to resolve a conflict it started alongside Israel almost a month ago. Leavitt on Wednesday said there were “elements of truth” to the reported US proposal, but cautioned against speculating on anonymously provided plans. Vice President JD Vance may travel to Pakistan for Iran talks this weekend, CNN reported. Asked for comment on that report, Leavitt said “this is a fluid situation, and speculation about meetings should not be deemed as final until they are formally announced by the White House.” Today's show features: Michelle Jamrisko, Bloomberg News White House and National Security Editor Dan Letter, CEO of Prologis Rachel Metz, Bloomberg News AI Reporter on OpenAI Discontinues Support for Sora, Winds Down Disney Deal June Grasso, Bloomberg Law host, on Meta, Google Found Liable in Social Media Addiction Case See omnystudio.com/listener for privacy information.

When Elon Musk took the stage on Saturday to unveil his plans to get into semiconductor production, he didn’t spare the superlatives. No one has ever proposed anything quite like what Musk calls Terafab. The project, as outlined, would be a massive operation to build cutting-edge semiconductors for artificial intelligence, robotics and space forays. He would not only try to take on the best chip manufacturer in the world — Taiwan Semiconductor Manufacturing Co. — he wants to do it at volumes far beyond the industry’s current capacity. The scale boggles the mind. The project would require something like $5 trillion to $13 trillion in capital spending, according to estimates from Bernstein analysts. That would fund 140 to 360 new factories, each making 50,000 wafers per month in order to reach the 1 terawatt of annual computing capacity he proposed.Max Chafkin, Bloomberg Businessweek Senior Reporter, discusses how Musk, by far the richest person in the world, has accomplished what others believed impossible before — creating a commercially viable rocket business with SpaceX, bringing electric vehicles to the mainstream with Tesla Inc., and delivering internet connectivity from space with Starlink.See omnystudio.com/listener for privacy information.