Bloomberg Businessweek

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

Robinhood is competing with other retail brokerages over access to Anthropic's mega-IPO and others as they come to market. CFO Shiv Verma says the company continues to see demand for IPO access, adding, "We're making sure the companies know retail is here." He also discusses the use of AI agents in trading accounts, saying customers continue asking for more agentic tools. Verma also says Robinhood is seeing an increase in non-sports related trades on its prediction market platform.

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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

Apple posted decelerating sales growth in its September quarter, with China revenue missing estimates, in its first earnings report since John Ternus took over as CEO. The growth marks a slowdown from a 16% increase in the June quarter. Elswhere, Anthropic disclosed a twelve-fold increase in quarterly revenue while also revealing it intends to spend over $895 billion in the coming years, and Marvell agreed to buy Lumentum in an historic $115 billion deal.

On today's episode:

• Anurag Rana, Bloomberg Intelligence Senior Tech Analyst *POST APPLE EARNINGS.
• Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech *POST APPLE EARNINGS.
• Seth Fiegerman, Bloomberg News AI Editor .
• Ryan Gould, Bloomberg News Deals Reporter .

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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

Former CFTC Chair J. Christopher Giancarlo says the $6 billion Binance hack highlights ongoing US cybersecurity vulnerability. He also weighs in on prediction markets, saying new rules are needed for regulations at the federal level. He also says he thinks there's a "social benefit in prediction markets," with users looking to platforms for predictability.

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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

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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

Wall Street got a reality check as a bruising selloff in technology shares fueled concern the artificial-intelligence frenzy that has powered the equity bull market might be overblown. Disappointing tech results spurred the worst drop for stocks since June, with the Nasdaq 100 briefly crossing the threshold of a technical correction. The index sank 3.5% Friday.

On today's episode:

• Kristine Aquino, Bloomberg News Markets Live Blog Managing Editor
• Jeff Sprecher, Intercontinental Exchange CEO
• Muyao Shen, Bloomberg News Crypto Reporter
• Dan Sheridan, Brooks Running CEO

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Wall Street got a reality check as a bruising selloff in technology shares fueled concern the artificial-intelligence frenzy that has powered the equity bull market might be overblown. Disappointing tech results spurred the worst drop for stocks since June, with the Nasdaq 100 falling 3.5% and briefly crossing the threshold of a technical correction. Intel Corp. slid the most in over four decades as its outlook missed estimates. Amazon.com Inc. slipped 1.4% on greater capital spending. The S&P 500 dropped 1.8%, breaching its key 100-day moving average.

For a quick recap of a bruising trade for big tech and equities broadly, hosts Tim Stenovec and Jess Menton speak with Bloomberg Markets Live blog managing editor Kristine Aquino.

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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

Schwab president and CEO Rick Wurster said that AI integration is helping the company streamline operations and create 'new pathways to engage with clients' after the Schwab announced investment in AI startup Nevis. Wurster also commented on the AI investment landscape, saying that he is reassured that there isn't a bubble by AI related companies that are still fairly or undervalued.

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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

Amazon reported higher capital spending than expected, while its e-commerce revenue slowed ahead of a potentially lukewarm holiday sales season. Intel's revenue forecast missed estimates, hurt by sputtering demand for PC processors and supply-chain problems with its lucrative data center companies.

On today's episode:

• Anurag Rana, Bloomberg Intelligence Senior Tech Analyst
• Jake Silverman, Bloomberg Intelligence Semiconductor Analyst
• Kunjan Sobhani, Bloomberg Intelligence Senior Semiconductor Analyst
• Liz Ann Sonders, Schwab Chief Investment Strategist
• Mike Townsend, Schwab Managing Director of Legislative & Regulatory Affairs

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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

Charles Schwab is expanding its push into artificial intelligence, bringing Anthropic’s Claude for Financial Advisors directly into Schwab Advisor Center. The company says it is the first RIA custodian to offer Anthropic’s advisor-specific AI to independent firms. Alison Dooher, Head of AI at Schwab Advisor Services, joins Bloomberg Businessweek Live from Schwab IMPACT Summit in Boston to discuss how AI is changing the financial advice landscape.

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Alphabet posted disappointing sales from most of its core businesses in the third quarter, escalating investors’ concerns about the hundreds of billions of dollars that the company is spending on artificial intelligence. The stock fell in late trading. Meanwhile, Microsoft delivered earnings that left Wall Street investors optimistic about its cloud division.

On this episode, Carol and Tim broadcast live from the Schwab IMPACT event in Boston to cover big tech earnings and more, featuring:

• Ed Ludlow, Bloomberg Tech Host
• Anurag Rana, Bloomberg Intelligence Senior Tech Analyst
• Omar Aguilar, CEO & CIO of Schwab Asset Management
• Lisa Salvi, Head of Business Consulting & Education at Charles Schwab

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Bloomberg's Tom Keene, Jon Ferro and Lisa Abramowicz discuss remarks from Fed Chair Kevin Warsh following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.

Federal Reserve officials left interest rates unchanged and reiterated their commitment to containing inflation without offering a clear signal they might raise rates at their next meeting in December.

But Fed Chairman Kevin Warsh, in a press conference that followed the decision, said officials have “made clear our readiness to act as circumstances require, and we have shown our willingness to act.”

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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

Video game maker veteran Bing Gordon helped launch the company that brought some of the most iconic games to the world. He and his daughter Chloe are out with a new book 'Everybody Wins: What Games Teach Us About Making Products People Love' which aims to break down the 8 core elements of 'gamification', and how companies like Amazon are borrowing the video game strategy to drive growth.

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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

The Federal Reserve kicked off a two-day meeting Tuesday after raising interest rates after its previous meeting in September. But as Bloomberg News Federal Reserve and Economy Reporter Enda Curran argues, the Fed is facing its most "confusing" economy yet. Consumer spending is strong, but sentiment is weak, and the economy is experiencing conflicting signals, including high bond yields and slow wage growth.

On today's episode:

• Enda Curran, Bloomberg News Federal Reserve and Economy Reporter
• Chris Merrill, CEO at Harrison Street Asset Management
• Tim Arndt, CFO at Prologis
• Justina Lee, Bloomberg News Senior Markets Reporter

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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

Democrats are preparing to launch congressional investigations into the administration's handling of files related to Jeffrey Epstein if they regain power after the midterm elections. Representative Robert Garcia said the Epstein investigation is going to be one of the top priorities, alongside probes into the Trump family's business dealings and allegations of corporate corruption. Any probe would ripple well beyond Washington, with Wall Street and corporate America already bracing for a wave of Democratic investigations, and major banks that had ties to Epstein's financial dealings could be called to testify.

For more, we catch up with Josh Wingrove, Bloomberg News White House Correspondent

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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

Anthropic filed for its IPO and expects to begin trading on the Nasdaq Global Select Market under the symbol ANT. The company's IPO will serve as a litmus test for investor demand for new equity tied to the AI trade, and its debut has become a focal point for hopes and fears over artificial intelligence. Anthropic's prospectus flagged various "risks to humanity" including attempts to "resist shutdown" and "conceal or manipulate information," and the company emphasized the potential for its AI to "behave in unintended, misaligned, or autonomous ways."
On today's episode:

• Shirin Ghaffary, Bloomberg News AI Reporter
• Rudina Seseri, Founder and Managing Partner at Glasswing Ventures
• Axel Merk, President and Chief Investment Officer, Merk Investments
• Dave Lee, Bloomberg Opinion US Technology Columnist

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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

Christina Stembel, founder and CEO of Farmgirl Flowers speaks with Carol Massar and Tim Stenovec about how her company is managing fuel surcharges and pressure from AI.

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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 https://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

Blackstone tactical opportunities group led a $2.3B private credit loan to CoreWeave in 2023, marking the first major deal of its kind and becoming a blueprint for chip-backed debt. This marked the first major deal of its kind and became a blueprint for chip-backed debt that, three years on, is on track to become a trillion-dollar market, eclipsing even the borrowings used to build the data centers housing the chips.
It’s a testament to how intertwined the global AI expansion and credit markets have become in such a short time

On today's episode:

• Dina Bass, Bloomberg News AI Infrastructure Reporter
• Jay Chaudhry, CEO & Founder, Zscaler
• Ray Madoff, Author, The Second Estate
• Jessica Dupuy, Co-Author of Italianity, Award-Winning Wine, Spirits, Food & Travel Writer

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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

Affirm Holdings Inc. is teaming up with Walmart Inc.’s Sam’s Club as the retailer’s exclusive buy-now, pay-later partner, just weeks before the key holiday shopping season kicks off.
Affirm will serve as Sam’s Club’s exclusive BNPL provider in a multi-year agreement, starting in that role on Sam’s Club’s website in the coming weeks and rolling out to stores in 2027.

For more on this deal, we catch up with Max Levchin, CEO of Affirm.

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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

Elon Musk has publicly endorsed a combination of SpaceX and Tesla, his two most valuable companies, in what would be the biggest corporate transaction ever attempted. There's a push to announce a deal by the first half of 2027, so that it closes during the current administration, according to people familiar with the matter, with the combined market value of the companies being around $3.7 trillion. Musk's endorsement comes at a moment of extraordinary influence for him, having repaired his relationship with President Donald Trump and tapped into fervent investor enthusiasm, but this advantage is not guaranteed to last.

On today's episode:

• Max Chafkin, Bloomberg Businessweek Senior Reporter
• Jackie Reses, co-founder and CEO of Lead
• Brett Winton, Chief Futurist, ARK Investment Management
• Andra Timu, Bloomberg Reporter covering Romania on Russian Drones Attacking EU

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