Bloomberg Businessweek-logo

Bloomberg Businessweek

Bloomberg News

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy. Watch us LIVE on YouTube: http://bit.ly/3vTiACF.

Location:

New York, NY

Description:

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy. Watch us LIVE on YouTube: http://bit.ly/3vTiACF.

Language:

English

Contact:

212-318-2000


Episodes
Ask host to enable sharing for playback control

ICYMI: How Tariffs Impact Global Payments

6/4/2025
John Caplan, CEO of financial technology company Payoneer, discusses how a the health of the American consumer impacts the global digital payment industry. Payoneer sees the uncertainty surrounding global trade and tariffs posing a headwind to revenue, prompting the company to pull its outlook for the year when it reported earnings last month. The New York City-based fintech company specializes in facilitating cross-border payments and is one of the top performers in the space along with Paypal and Venmo. See omnystudio.com/listener for privacy information.

Duration:00:08:01

Ask host to enable sharing for playback control

Wells Fargo Asset Cap Lifted by Fed, Paving Way for Growth

6/3/2025
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Wells Fargo & Co. finally escaped a Federal Reserve asset cap that has restricted its size for more than seven years, unleashing the firm from the unprecedented punishment in a major win for Chief Executive Officer Charlie Scharf. The bank’s shares surged. The Fed said in a statement Tuesday that Wells Fargo met all conditions required by an enforcement action imposed on the bank in 2018 to remove the restriction. The central bank completed its review of Wells Fargo’s remediation efforts and third-party assessments, as well as its own assessment of the bank’s corporate governance and risk management programs, it said. The hotly anticipated verdict closes the door on nearly a decade of scandals at the fourth-largest US lender and allows the bank to pursue growth again. Since the cap was imposed in February 2018, it became the most-feared punishment in banking and caused Wells Fargo to miss out on about $39 billion in profits by one measure. The Fed said that other elements of the 2018 enforcement action will remain in place for now. Today's show features: See omnystudio.com/listener for privacy information.

Duration:00:44:43

Ask host to enable sharing for playback control

ICYMI: Uncertainty at NASA After Trump Pulls Musk Ally's Nomination

6/3/2025
President Donald Trump said he would name a new nominee for NASA administrator, just days before billionaire Jared Isaacman, the current pick and a close ally of Elon Musk, was to face his planned Senate confirmation vote. It wasn’t immediately clear why Trump was dropping the nomination of Isaacman, who had already been approved by the Senate Commerce Committee. Trump posted on Truth Social that he made the decision after a “thorough review of prior associations.” Bloomberg News Space Reporter Loren Grush details the fallout from Trump’s decision and discusses what comes next for the space agency. See omnystudio.com/listener for privacy information.

Duration:00:11:32

Ask host to enable sharing for playback control

Kyiv’s Brazen Drone Strike on Nuclear Bombers Alarms Moscow

6/2/2025
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Ukraine’s drone strike deep inside Russian territory left Kremlin officials angry and alarmed over the sudden vulnerability of a nuclear-capable air fleet far from the battlefield, according to people close to senior officials in Moscow. Sunday’s dramatic attack on Russian long-range bombers in air fields in Siberia helped to disrupt an arsenal that Moscow deploys to hit Ukraine with some of its most powerful missiles. It also demonstrated Ukraine’s ability to hit key assets thousands of miles from the front lines, which the Russian military had thought were safe. While nobody is predicting that Sunday’s dramatic attack will change the course of Vladimir Putin’s war, Ukrainian President Volodymyr Zelenskiy celebrated the “brilliant” covert operation. Planned over a year and a half and involving unmanned aerial vehicles popping out of trucks that had been driven across Russia’s vast expanse, it was the longest-range mission undertaken in the three-year war, he said. The damage inflicted on the warplanes is likely to rattle decision makers around Putin rather than shake up Moscow’s military aims. Only a few such bombers are needed for attacks on Ukraine, meaning that the pace of missile and bombing strikes won’t slow, according to people close to the Kremlin who spoke on condition of anonymity. But the deep-penetration raid was a direct hit on air assets, including targets on Tu-160, Tu-95 and Tu-22 M3 bombers that have long been considered less vulnerable to attack than land and naval forces, which have suffered bigger losses. Russia’s Defense Ministry confirmed attacks at five military airbases across the country on Sunday. Russia acknowledged that several aircraft were damaged, compared with Kyiv’s claim that more than 40 planes were hit. A person close to the Kremlin put the tally at closer to 10. Pro-Moscow military blogger Rybar, which has about 1.3 million Telegram subscribers, estimated that 13 aircraft were affected, most of them long-range bombers. Western officials continued to assess the aftermath of the raid. The destruction was “substantial,” with at least seven Tu-95s and four Tu-22s damaged or destroyed, according to one senior official. The strike, broadcast widely on Russian social media, was successful in lifting moral in Ukraine, a European diplomat said. President Donald Trump’s administration was not notified ahead of the attack, a US official said. Today's show features: See omnystudio.com/listener for privacy information.

Duration:00:40:45

Ask host to enable sharing for playback control

ICYMI: YouTube Is Coming for the Sitcom

6/2/2025
For two decades, YouTube has tried to convince advertisers that it’s the future of entertainment. The streaming giant has spent the past few years trying to make itself the centerpiece of the living room. The company teamed up with TV manufacturers so watching YouTube on a TV became as easy as watching it on your phone or laptop. People can now leave comments and subscribe to YouTube channels on a TV, and creators can arrange videos as though they’re episodes of a show. Bloomberg News Managing Editor, Media & Entertainment Lucas Shaw details his Businessweek story on content creators making longer shows to meet viewers where they are. See omnystudio.com/listener for privacy information.

Duration:00:09:16

Ask host to enable sharing for playback control

Bloomberg Businessweek Weekend - May 30th, 2025

5/30/2025
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.

Duration:01:15:02

Ask host to enable sharing for playback control

Musk Pledges to Remain Trump Adviser After Washington Exit

5/30/2025
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Elon Musk said he will continue to advise President Donald Trump even after stepping away from the Department of Government Efficiency effort he has spearheaded. “I expect to remain a friend and an adviser, and hopefully, if there’s anything the president wants me to do, I’m at the president’s service,” Musk said alongside Trump during a press conference Friday at the White House. “This is not the end of DOGE, but really the beginning.” The comments indicate that the chief executive officer of Tesla Inc. and SpaceX plans to remain in the president’s orbit despite vows to pull back from Washington and prioritize his business empire. As the head of DOGE, Musk’s efforts to slash spending and cut government jobs have drawn pushback from federal workers and Democratic lawmakers as well as a consumer backlash to his business interests. Musk’s divided attention has rattled investors and Wall Street analysts who underestimated the damage being done to Tesla’s brand around the world. As discontent grew over his focus, the billionaire vowed to pull back “significantly” from his government work to devote more time to Tesla as it nears the critical launch of robotaxi service. Today's show features: See omnystudio.com/listener for privacy information.

Duration:00:25:57

Ask host to enable sharing for playback control

ICYMI: Costco Defies Tariff Volatility as Other Retailers Stumble

5/30/2025
Costco Wholesale Corp. posted better-than-expected earnings in the third quarter, a sign that the nation’s largest club chain is flexing its scale and devoted following to navigate tariffs and other forces of economic turbulence. The retailer said it generated earnings per share of $4.28 for the quarter ended May 11, above what Wall Street analysts were expecting. The metric suggests that Costco is growing its business even as consumers prioritize necessities to save money. Burt Flickinger, Managing Director of Strategic Resource Group, reacts to Costco's earnings other key players in the retail sector, including Walmart, The Gap and Ulta Beauty. See omnystudio.com/listener for privacy information.

Duration:00:11:41

Ask host to enable sharing for playback control

Trump Wins Tariff Reprieve as Trade Agenda Faces Court Rollback

5/29/2025
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. A federal appeals court offered President Donald Trump a temporary reprieve from a ruling threatening to throw out the bulk of his sweeping tariff agenda, offering at least some hope to a White House now facing substantial new restrictions on its effort to rewrite the global trading order. The administration celebrated the order from the US Court of Appeals for the Federal Circuit as validating its vow to aggressively challenge a ruling issued Wednesday night by the Court of International Trade blocking sweeping parts of Trump’s tariffs over his use of the International Emergency Economic Powers Act, or IEEPA. “I can assure you, American people, that the Trump tariff agenda is alive, well, healthy, and will be implemented to protect you, to save your jobs and your factories,” trade adviser Peter Navarro told reporters on Thursday. Even as Navarro celebrated the temporary stay, the possibility that the appeals court could ultimately back the original ruling and block Trump’s tariff policy hung heavy over the White House. Separately, a second federal judge declared a number of Trump’s levies enacted using emergency powers unlawful, but limited his decision to the family-owned business that sued and delayed the order from taking effect for 14 days to allow the Justice Department time to appeal. Today's show features: See omnystudio.com/listener for privacy information.

Duration:00:29:35

Ask host to enable sharing for playback control

ICYMI: Asia's 'Sell America' Moment Puts $7.5T at Risk

5/29/2025
Bloomberg News Chief Correspondent for Global Macro Markets Liz McCormick explains why Asian investors are rethinking their strategy of investing in US assets. The trend has been driven by concerns over the US budget deficit, political polarization, and the impact of Trump's policies on the dollar. The shift away from US assets could lead to a significant unwinding of dollar investments, with potential beneficiaries including emerging markets, Europe, and Japan, and a possible appreciation of Asian currencies. This story is the subject of the latest Bloomberg Big Take. You can read the full story, and more from Bloomberg The Big Take on the Bloomberg Terminal and at Bloomberg.com/bigtake. See omnystudio.com/listener for privacy information.

Duration:00:08:05

Ask host to enable sharing for playback control

Instant Reaction: Nvidia Gives Solid Forecast, Despite China Concerns

5/28/2025
Nvidia, the world’s most valuable chipmaker, gave an upbeat revenue forecast for the current period, even as a slowdown in China weighed on results. Sales will be about $45 billion in the second fiscal quarter, which runs through July, the company said on Wednesday. That included the loss of roughly $8 billion in revenue from China because of export controls. The forecast was in line with analysts’ estimates, according to data compiled by Bloomberg. Nvidia shares rose about 4% in extended trading following the announcement. The outlook shows that Nvidia is ramping up production of Blackwell, its latest semiconductor design. The chipmaker — now the world’s largest by revenue — dominates the market for AI accelerators, the components that help develop and run artificial intelligence models. And an ever-broader lineup of hardware and software is letting Nvidia sell more products to customers. For instant reaction and analysis, hosts Carol Massar and Tim Stenovec speak with: See omnystudio.com/listener for privacy information.

Duration:00:15:09

Ask host to enable sharing for playback control

Nvidia Delivers Solid Earnings; Musk Distances Himself From DC

5/28/2025
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Nvidia Corp., the world’s most valuable chipmaker, gave an upbeat revenue forecast for the current period, even as a slowdown in China weighed on results. Sales will be about $45 billion in the second fiscal quarter, which runs through July, the company said on Wednesday. That included the loss of roughly $8 billion in revenue from China because of export controls. The forecast was in line with analysts’ estimates, according to data compiled by Bloomberg. The outlook shows that Nvidia is ramping up production of Blackwell, its latest semiconductor design. The chipmaker — now the world’s largest by revenue — dominates the market for AI accelerators, the components that help develop and run artificial intelligence models. And an ever-broader lineup of hardware and software is letting Nvidia sell more products to customers. As part of that push, the company is increasingly offering its chips as part of whole computer systems — a move it says is necessary to speed up the deployment of more complex and powerful technology. Nvidia expects AI infrastructure to eventually transform much of the economy, part of what Chief Executive Officer Jensen Huang refers to as a new industrial revolution. Today's show features: See omnystudio.com/listener for privacy information.

Duration:00:42:20

Ask host to enable sharing for playback control

ICYMI: Your AI Accountant Is Here

5/28/2025
Sukhinder Singh Cassidy, Chief Executive Officer of cloud software company Xero, discusses the New Zealand-based company's outlook and its push to grow its small-business customer base in the United States. Xero is a global small business platform that helps customers supercharge their business by bringing together the most important small business tools, including accounting, payroll and payments. Singh Cassidy cites strong revenue growth in the US from its most recent earnings report, and also explains how the emergence of artificial intelligence could help lift her business to new heights. See omnystudio.com/listener for privacy information.

Duration:00:09:56

Ask host to enable sharing for playback control

Stocks Climb on Economic and Trade Optimism

5/27/2025
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Wall Street kicked off the week with a rally in stocks as consumer confidence rebounded sharply while the US and the European Union sped up trade talks. A global surge in bonds also helped sentiment. As equities halted a four-day slide, the S&P 500 climbed 2%. Nvidia Corp. paced gains in megacaps ahead of its results. Treasuries got a boost, pushing the 30-year yield below 5% on signs Japan will be ready to calm jittery debt markets. The moves in the US extended after a sale of two-year notes was met with solid bidding metrics. The dollar rose against all developed-market currencies. President Donald Trump noted he was encouraged the EU is speeding up negotiations on trade, days after he said the bloc would face 50% tariffs if they fail to reach a deal with the US. Trump extended a deadline for those taxes to take effect to July 9 after a call with European Commission President Ursula von der Leyen. Today's show features: See omnystudio.com/listener for privacy information.

Duration:00:39:22

Ask host to enable sharing for playback control

US Steel-Nippon "Partnership" with Marc Morial

5/27/2025
Marc Morial, President and CEO of the National Urban League, speaks on what has transpired in the five years since the killing of George Floyd. Plus his thoughts on the US Steel & Nippon Steel "partnership" See omnystudio.com/listener for privacy information.

Duration:00:14:00

Ask host to enable sharing for playback control

Bloomberg Businessweek Weekend - May 23rd, 2025

5/23/2025
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.

Duration:01:17:38

Ask host to enable sharing for playback control

Trump Targets Samsung and Apple Phones with 25% Tariff Threat

5/23/2025
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump said that the tariffs he threatened against Apple Inc. earlier Friday would also be aimed at a wider range of device makers including Samsung Electronics Co. to spur them into moving manufacturing of their products to the US. “It would be more,” Trump said when asked at the White House whether his tariff threat would only apply to Apple. “It would be also Samsung and anybody that makes that product, otherwise it wouldn’t be fair.” Trump indicated that the import levies would be “appropriately done” and ready for implementation by the end of June but provided no other details. The president’s remarks clarified his social media post from earlier in the day warning that Apple would face tariffs of 25% if the Cupertino, California-based company failed to shift production of its iconic iPhone to the US from overseas. The warning came days after a Tuesday meeting between Trump and Apple Chief Executive Officer Tim Cook at the White House, a US official said. “He said he’s going to India to build plants. I said, that’s okay to go to India, but you’re not going to sell into here without tariffs, and that’s the way it is,” Trump said. Apple’s stock fell as much as 3.9% in New York trading. Separately Friday, Trump also threatened a 50% tariff on the European Union that would go into effect June 1, which weighed on the broader market. Today's show features: See omnystudio.com/listener for privacy information.

Duration:00:34:14

Ask host to enable sharing for playback control

ICYMI: Tariff-Free Ways to Reindustrialize America

5/23/2025
Ben Reinhardt, CEO of Speculative Technologies and Businessweek Contributing Writer, breaks down how the US should study China's playbook, create new manufacturing paradigms, and preserve American strengths, such as its scientific and technological leadership and its relationships with allies. He argues this can be achieved by attracting foreign investment, building industrial hubs, developing new technologies like artificial intelligence, and fostering a welcoming environment for skilled immigrants, rather than relying on tariffs and isolationist policies See omnystudio.com/listener for privacy information.

Duration:00:11:49

Ask host to enable sharing for playback control

US Bans Harvard From Enrolling Foreigners

5/22/2025
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. The Trump Administration blocked Harvard University from enrolling international students, delivering a major blow to the school and escalating its fight with elite colleges to unprecedented levels. The US revoked Harvard’s Student and Exchange Visitor Program certification, meaning foreign students can no longer attend the university. Existing international students must transfer or lose their legal status, the Department of Homeland Security said in a statement Thursday. “Harvard’s leadership has created an unsafe campus environment by permitting anti-American, pro-terrorist agitators to harass and physically assault individuals, including many Jewish students, and otherwise obstruct its once-venerable learning environment,” according to the statement. The blockade on international student enrollment will compound the financial pressures for Harvard. The Trump administration has frozen more than $2.6 billion of Harvard’s funding and cut off future grants in an increasingly contentious standoff over the school’s handling of alleged antisemitism on campus and government demands for more oversight. Trump has also called for the institution to lose its tax-exempt status, a move that the Cambridge, Massachusetts-based school has cautioned would have “grave consequences for the future of higher education in America.” Harvard responded by calling the government’s latest action unlawful. Today's show features: See omnystudio.com/listener for privacy information.

Duration:00:37:22

Ask host to enable sharing for playback control

ICYMI: The Future of Language-Learning

5/22/2025
Matthew Skaruppa, Chief Financial Officer of Duolingo, details the language-learning platform's push into artificial intelligence. A Bloomberg Intelligence analysis indicates Duolingo's AI investments and expansion into math, music and chess lessons have the potential to attract more users to the platform and maintain its downloads lead in the large and fragmented language-learning market. Underpinned by the Duolingo Max subscription tier and its realistic speaking exercises, revenue could gain 33-35% in the next 12-18 months, based on our calculation and consensus. New subscribers, pricing leverage and recent changes to Apple's App Store policy may somewhat offset the cost of AI enhancements, supporting margins and sustainable growth. Skaruppa will also be featured on the latest installment for the Bloomberg TV series, “Chief Future Officer.” See omnystudio.com/listener for privacy information.

Duration:00:11:45