Trump, Apple Announced Fresh $100 Billion US Investment
Watch Bloomberg Businessweek Daily every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump announced that Apple Inc. will commit to spending another $100 billion on domestic manufacturing, the latest pledge by the tech giant to increase US production of its products as it seeks to avoid punishing tariffs on its flagship iPhones.The announcement at the White House on Wednesday included a new manufacturing program designed to bring more of Apple’s supply chain to the US, with an eye toward assembling additional critical components domestically, according to a White House official who detailed the announcement on the condition of anonymity. Apple Chief Executive Officer Tim Cook attended the event. The company had previously announced it plans to spend $500 billion in the US over the next four years, which will include work on a new server manufacturing facility in Houston, a supplier academy in Michigan and additional spending with its existing suppliers in the country. Wednesday’s announcement brings Apple’s cumulative commitment to $600 billion, the White House said.Today's show features: Bloomberg News Managing Editor for Global Consumer Tech Mark Gurman on Apple’s $100 billion US investment and Tim Cook’s visit to the White House Bloomberg Intelligence Global Equity Strategist Associate Gillian Wolff on her latest market research Bloomberg Intelligence Senior Media Analyst Geetha Ranganathan on Disney’s quarterly earnings report Amy Rubenstein, CEO of Clear Investment Group, on the distressed real estate market See omnystudio.com/listener for privacy information.
-------- Â
31:12
--------
31:12
ICYMI: Latin America's E-Commerce Empire
MercadoLibre Inc. investors brushed off a second-quarter report that missed estimates for profit, betting on the Latin American e-commerce giant’s long-term strategy. The company’s earnings, released Monday evening, fell short of analyst estimates for net income, pressured by rising costs tied to an expansion of free-shipping policy in Brazil. Still, revenue growth remained strong and executives doubled down on their plans to keep expanding across the region. Martin de los Santos, MercadoLibre's CFO, breaks down the quarter and the outlook for the $120 billion powerhouse. Martin speaks with Carol Massar, Matt Miller and Nina Trentmann on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.
-------- Â
12:39
--------
12:39
Stocks Fall as US Services Flash Warning Signals
Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF.Stocks wiped out gains after data showed weakening US services amid sticky price pressures, raising concern about the Federal Reserve’s policy challenges. Short-dated Treasuries underperformed. Oil sank as Russia was said to mull an air-truce with Ukraine.Following a rally that put S&P 500 on the brink of all-time highs, the benchmark lost steam. A gauge of chipmakers slid over 1% ahead of Advanced Micro Devices Inc.’s results. Two Chinese nationals were arrested this week on charges they sent tens of millions of dollars worth of advanced AI chips made by Nvidia Corp. to China in violation of US export restrictions, according to authorities.A soft $58 billion sale of three-year notes kicked off a trio of US auctions this week. The yield on 10-year Treasuries was little changed at 4.20%, while those on two-year notes rose four basis points to 3.72%.The US services sector stagnated as firms — faced with tepid demand and rising costs — reduced headcount. Data out last week showed weaker-than-expected jobs data while inflation-adjusted consumer spending barely rose.President Donald Trump told CNBC that Treasury Secretary Scott Bessent said he did not want to be nominated to replace Jerome Powell as the next Fed chair. Trump also said that US tariffs on semiconductor and pharmaceutical imports would be announced “within the next week or so.”Today's show features: Joyce Huang, Senior Client Portfolio Manager for American Century Investments on the fixed income market Bloomberg Senior Editor for Technology & Strategic Industries Michael Shepard on new tariff concerns on pharmaceuticals and semiconductors Rick Smith, Founder and CEO of Axon, on earnings and the market for physical security tools and equipment Bloomberg News Tech and Venture Capital Reporter Kate Clark on her Businessweek story: AI Founders Jump Ship for Big Tech, Leaving Colleagues Stranded See omnystudio.com/listener for privacy information.
-------- Â
42:50
--------
42:50
ICYMI: How SparkCharge Is Taking EV Fleet Charging Off-Grid
SparkCharge bills itself as the “World's Largest Electric Vehicle Fleet Charging Network.” The company's mission is to revolutionize the EV charging industry by making charging faster, more accessible, and more sustainable. Through innovative technology and mobile solutions, SparkCharge says it seeks to empower businesses to charge anywhere, anytime — eliminating barriers to EV adoption and driving the world toward a cleaner, more electrified future.Founder and CEO Josh Aviv details the company's growth trajectory and examines the demand for electric vehicles among Americans under the Trump administration. Josh speaks with Carol Massar and Matt Miller on Bloomberg Businessweek Daily.See omnystudio.com/listener for privacy information.
-------- Â
11:15
--------
11:15
Wall Street Is Warning Investors to Get Ready for Stocks to Drop
Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF.A chorus of stock market prognosticators at some of Wall Street’s biggest firms is warning clients to prepare for a pullback as sky-high equity valuations slam into souring economic data. On Monday, Morgan Stanley, Deutsche Bank AG and Evercore ISI all cautioned that the S&P 500 Index is due for a near-term drop in the weeks and months ahead. The predictions come after a furious rally from April’s lows that propelled the gauge to levels it has never seen before.Morgan Stanley strategist Mike Wilson sees a correction of up to 10% this quarter as tariffs hit consumers and corporate balance sheets. Evercore’s Julian Emanuel is expecting a more substantial decline of as much as 15%. And a team at Deutsche Bank led by Parag Thatte notes that a small drawdown in equities is overdue considering they’ve been on a tear for over three months.Today's show features: Bill Smead, Founder, Chairman and CIO of Smead Capital Management, on concentration risk in markets Joyce Mullen, President and CEO of Insight Enterprises, on recent earnings and customers putting off new projects and saving for future investments in AI Aaron Jagdfeld, Chairman, President and CEO of Generac, on earnings, the state of manufacturing in America, and US trade policy impact Kate Gulliver, Chief Financial Officer of Wayfair, on quarterly earnings and the health of the American consumer See omnystudio.com/listener for privacy information.
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.
Canada - english