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. Business leaders, investors and academics have cheered Massachusetts Governor Maura Healey’s efforts to counter the Trump administration’s research funding cuts with state money — so much so that a recent meeting on the initiative required overflow seating. Healey, a Democrat, in July proposed funneling $400 million to institutions affected by the federal pullback. Half of the money in Healey’s proposal would come from revenue raised by the state’s millionaire’s tax and would be reserved for the University of Massachusetts and other public colleges, while the rest could go to hospitals and private schools such as Harvard University. She’s also seeking to establish a separate fund with contributions from philanthropists and private investors. The funds are meant to be a Band-Aid to help protect the universities and medical organizations that form the backbone of the Massachusetts economy. Healey sees the bill not only as a lifeline for life-saving therapies, but also as a way to retain the research talent that’s made Boston a global hub for the health-care industry. Today's show features interviews conducted during a special broadcast from Boston Children's Hospital: See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Bitcoin sank deeper below the $100,000 mark, dragged down by a fresh wave of risk aversion and a selloff in tech stocks that reignited Wall Street jitters. The digital currency fell as much as 3.9% to $97,956, intensifying a slump that’s wiped out more than $450 billion in value since early October. Once-reliable sources of support — including large investment funds, ETF allocators, and corporate treasuries — have stepped back, removing a key prop from this year’s rally and triggering a new phase of market fragility. Analysts at 10x Research say the crypto market has entered a confirmed bear regime. The firm cites weakening ETF flows, continuing selling by long-term holders, and muted participation from retail buyers. The firm’s models flagged the shift in mid-October and now point to deteriorating sentiment beneath the surface. The next key level is $93,000, according to 10x. Today's show features: See omnystudio.com/listener for privacy information.

Hormone replacement therapies (HRTs) used to treat menopause symptoms no longer need to carry strict warnings about some potential side effects, including cancer and heart disease, the US Food and Drug Administration announced Monday. Commissioner Marty Makary said the agency is asking drugmakers to remove the strict black box warnings, with the goal of encouraging more women to take them. Labels on the medicines currently list potential side effects including cardiovascular disease, blood clots, breast cancer and dementia. Fanny Elahi, MD, PhD is a physician-scientist and Associate Professor in the Departments of Neurology, Neuroscience, and Pathology at the Icahn School of Medicine at Mount Sinai in New York City. Dr. Elahi discusses the implications of this move and the importance of such therapies, particularly for women approaching menopause, with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Lumen Technologies is on track to restore revenue gains by 2030 by shifting to growth products and divesting noncore assets. Bloomberg Intelligence notes that the company recently announced the sale of the Mass Markets fiber unit to AT&T for $5.75 billion in cash. It's also building new fiber routes for hyper-scaler cloud providers and social-media companies for AI traffic between data centers. It aims to tap other high-growth segments like edge compute and security to restore top-line growth, though the enterprise segment could inflect earlier. Lumen is carefully managing capex and seeks to eliminate $1 billion in costs by year-end 2027 to maximize free cash flow. Chris Stansbury, the company's Chief Financial Officer, breaks down Lumen's path back to growth also details the firm's recent $200 million deal to source AI software from Palantir Technologies. Chris speaks with Carol Massar, Tim Stenovec and Bloomberg News Senior Editor Nina Trentmann on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Democrats returned to pressing Donald Trump on his ties to Jeffrey Epstein, highlighting a selection of emails in which the late financier and convicted sex trafficker suggested the president knew of his activities. A congressional committee on Wednesday released some 20,000 pages of documents, pivoting attention away from the ongoing government shutdown and forcing the White House to respond to an issue that has frustrated the president and drawn scrutiny from parts of his base. The trove of documents included emails in which Epstein — who died in 2019 while facing sex-trafficking charges — appeared to allege that Trump spent hours in a house with one of Epstein’s victims. The new information came the same day that a new House lawmaker was officially sworn into office. Adelita Grijalva, an Arizona Democrat, immediately signed a petition forcing a vote on legislation to compel the Justice Department to release files on Epstein. Today's show features: See omnystudio.com/listener for privacy information.

Lisa Wright is the Founder and CEO of Landings, a pioneering company developing a network of rural vertiports that expand access to advanced air mobility across the US. With over 20 years of experience in architecture, design, and operations, Lisa brings a unique perspective at the intersection of infrastructure, technology, and community development. Since founding Landings, she has led the company in building partnerships with municipalities, regional economic development agencies, landowners, and equipment manufacturers to catalyze investment in rural communities. Lisa lays out her vision for building this cutting-edge aviation infrastructure, which she says can also create hubs for clean energy, workforce training, and economic revitalization. Lisa 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. Wall Street’s bets that the largest shutdown in US history is soon coming to an end drove a rebound in stocks, spurring optimism that access to official economic data will shed light on the Federal Reserve outlook. The S&P 500 erased losses, with about 345 shares gaining. The Dow Jones Industrial Average climbed 1.2%. FedEx Corp. — a barometer of the economy — jumped over 5% as it expects profit this quarter to improve from a year ago. Nvidia Corp. sank 3% as SoftBank Group Corp. sold its entire stake in the chipmaker for $5.83 billion to help bankroll artificial-intelligence investments. With the bond market closed for Veterans Day, Treasury futures rose after ADP Research data suggested the labor market slowed in the second half of last month. Traders have relied on private numbers as the government closure has delayed the release of official statistics. A record-setting US shutdown is on a path to end as soon as Wednesday after the Senate passed a temporary funding measure. Reopening the government now depends on the House, which plans to return to Washington to consider the spending package. It would keep most of the government open through Jan. 30 and some agencies through Sept. 30. If approved, the bill goes to President Donald Trump, who has already endorsed the legislation. Today's show features: See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Warren Buffett, the billionaire investor who turned an aging textile mill into a more than $1 trillion conglomerate, said he’s “going quiet,” marking the end of an era for one of the business world’s most-watched investing gurus. In a letter disclosing that he’s donating more than $1.3 billion to four family foundations, the 95-year-old investor, who is stepping down from his role of chief executive officer at the end of the year, said he’s going to stop writing Berkshire Hathaway Inc.’s annual letters and speaking at its meetings . And while he said he generally feels “good,” he is planning to “step up the pace” of his charitable giving to his kids’ foundations while he’s still alive. “Though I move slowly and read with increasing difficulty, I am at the office five days a week where I work with wonderful people,” Buffett said in the letter released Monday. “Occasionally, I get a useful idea or am approached with an offer we might not otherwise have received. Because of Berkshire’s size and because of market levels, ideas are few – but not zero.” Buffett is expected to hand his role of CEO to his successor Greg Abel at year-end. Letters such as the one released Monday, along with the ones that accompany the firm’s annual results, have become a must-read for his fans, who seek out the pearls of wisdom, investment advice and witticisms that drew a legion of fans to the billionaire investor. Today's show features: See omnystudio.com/listener for privacy information.

In mid-October, The Johns Hopkins Bloomberg School of Public Health hosted a media briefing to examine the health implications of seed oils and ultra-processed foods, topics that are generating increased public attention. Seed oils, such as canola, soybean, and sunflower, are a major source of essential fatty acids in diets worldwide and are often the subject of conflicting information. Ultra-processed foods account for more than half of daily calories consumed in the US but have been linked to obesity, diabetes, cardiovascular disease, and other conditions. Dr. Julia Wolfson, Associate Professor with the International Health Department at the Johns Hopkins Bloomberg School of Public Health, discusses her research related to the effects of these foods on our bodies, and whether government policy under the Trump administration is a net-positive or negative for public health. Dr. Wolfson speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Ryan J. Salva is a veteran product leader at Google who has been at the forefront of building AI tools for developers. He is responsible for Google's products such as the recently launched Gemini CLI, an open source AI agent for developers, as well as Gemini Code Assist, the tech giant's AI coding assistant, both of which are changing how software is developed and deployed by individuals and organizations. Ryan details the evolution of Google Gemini and its coding tools for developers with Carol Massar, Tim Stenovec and Mandeep Singh on Bloomberg Businessweek Daily. 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 Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. US officials warned that the number of flight cancellations may need to double if the government shutdown drags out and air-traffic controller staffing shortages worsen, potentially escalating travel disruptions as the country heads into one of its busiest travel seasons. US Transportation Secretary Sean Duffy said on Fox News Friday that regulators will continue to assess the strain on the aviation system and if the data moves in the wrong direction, the current plan to reduce flights by 10% by the end of next week could grow to 15% or even 20%. With hundreds of services already trimmed and more on the way, air travel has become a flash point in the long-simmering clash between Republicans and Democrats over federal funding as President Donald Trump ramps up pressure to forge a deal. The Republican-led administration has said the reductions are necessary to keep flying safe as staffing shortages strain resources. At least one top congressional Democrat has called for more transparency to ensure the move isn’t politically motivated. Today's show features: See omnystudio.com/listener for privacy information.

Senate Democrats are again urging Republicans to negotiate extending enhanced Obamacare premium tax credits, buoyed by sweeping gubernatorial elections in Virginia, New Jersey and a mayor’s race in New York City. Following this week's elections, Sen. Bernie Sanders (I-VT) said lawmakers’ government shutdown fight should continue unless President Donald Trump and House Speaker Mike Johnson (R-LA) commit to extending the ACA credits. Dr. Susan J. Blumenthal has served under four US presidents, having achieved the rank of Rear Admiral (Ret.) with the US Public Health Service, is a former Assistant Surgeon General, and was the nation's first-ever Deputy Assistant Secretary for Women's Health. She currently works as a visiting professor with the MIT Media Lab. Dr. Blumenthal examines the impact of the ongoing government shutdown on the nation's millions of health-benefit recipients, and also details some of her advanced research on key issues affecting women's health -- particularly breast cancer. Dr. Blumenthal speaks with Norah Mulinda and Bailey Lipschultz on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Charles Schwab Corp. agreed to buy Forge Global Holdings Inc., a marketplace for buying and selling shares of private companies, for about $660 million. Under the terms of the transaction, Schwab will acquire all of Forge’s shares for $45 apiece, according a statement Thursday. That’s about 72% more than the closing price on Wednesday. The deal would be the first for Schwab under Chief Executive Officer Rick Wurster, who took the helm of the retail brokerage at the beginning of the year. Acquiring Forge could aid his ambition to give customers more opportunities to gain exposure to unlisted companies, especially as those firms stay private for longer. Westlake, Texas-based Schwab, which is also a bank, was swept up in the regional banking turmoil of 2023, but has since rebounded, reporting third-quarter earnings last month that beat estimates as consumers flocked to investing. Wurster said at the time that new Schwab brokerage accounts topped 1 million for the fourth quarter in a row. Today's show features: See omnystudio.com/listener for privacy information.

Teva Pharmaceuticals Inc. surged after sales of branded medications topped expectations, showing that its strategy to expand into that drug category is working. Total revenue last quarter of $4.48 billion beat consensus, driven by a 33% gain for a group of drugs that includes Austedo. Meanwhile, sales of generics — Teva’s core business — missed estimates. The Tel Aviv, Israel-based company has pushed into branded medications that have been drivers of the company’s growth in recent years. The generics business continues to make up the majority of Teva’s revenue. Richard Francis, Teva's President and CEO, discusses his company's growth strategy and its move to renew the sale process for its active ingredients business after talks with an unnamed buyer fell through. Richard speaks with Emily Graffeo and Katie Greifeld on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. At a time when every dip in stocks is perceived as an opportunity, buyers emerged after a brief pullback led by some of the biggest winners of the artificial-intelligence boom. Bitcoin rallied. Bonds fell. Equities rebounded, with the S&P 500 up almost 1% following a slide that underscored worries over how stretched the market has become and how sensitive it is to unfavorable news. Chipmakers, which bore the brunt of the recent selling, led gains on Wednesday. Bonds slid as data showed US services activity expanded at the fastest pace in eight months. Federal Reserve Governor Stephen Miran said a report underscoring a rise in employment at companies was “a welcome surprise,” but reiterated rates need to be lower. Today's show features: See omnystudio.com/listener for privacy information.

NANO Nuclear Energy is a leading advanced nuclear energy and micro modular reactor technology company focused on developing clean energy solutions. Last month, the firm announced that it would be investing more than $12 million to establish a manufacturing and research and development facility in Illinois, with support from a state incentive program. It is expected to support nuclear engineers, component manufacturers, researchers, and support personnel who will work in collaboration with the University of Illinois Urbana-Champaign on NANO Nuclear's lead project, the KRONOS micro modular reactor (MMR) Energy System. James Walker, the firm's CEO and director, discusses the pursuit of bringing the first functioning small modular reactor into operation. James speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. He is joined by Will Wade, Bloomberg News Energy Reporter. See omnystudio.com/listener for privacy information.

Democrats swept the three major local elections in the US on Tuesday by wider-than-expected margins, giving the beleaguered party a much-needed boost 10 months into President Donald Trump’s second term. From New York’s City Hall to Virginia, where Democrats picked up a gubernatorial seat, and out to California, the victories will bolster morale in a party that’s been reeling after failing to win the White House, Senate and House of Representatives just a year ago. In New York, voters elected 34-year-old Zohran Mamdani, a democratic socialist, as mayor after he deployed a social media-savvy campaign and joined up with two progressive icons, Vermont Senator Bernie Sanders and Representative Alexandria Ocasio-Cortez. For reaction and analysis, host Doug Krizner speaks with: - Jeanne Sheehan-Zaino, Democracy Visiting Fellow at Harvard Kennedy School's Ash Center and Bloomberg Politics Contributor - Greg Giroux, Bloomberg Government senior reporter See omnystudio.com/listener for privacy information.

Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF. Risky assets slid, with tech stocks and cryptocurrencies bearing the brunt of the selling, after long-simmering concerns about lofty valuations were fanned anew by a chorus of Wall Street executives who warned investors to brace for a pullback. With the rally confined to fewer and fewer shares as sentiment and technical indicators show signs of overheating, the chiefs of giants from Capital Group to Goldman Sachs Group Inc. and Morgan Stanley noted the possibility of a pullback as a healthy development. Nobody needs to look hard to find warnings that stocks look frothy after a record-breaking surge from April’s nadir pushed valuations to levels associated with exuberance. Optimism has grown heated in recent months, with many traders seeming too busy chasing the upside to worry about an expensive market. The S&P 500 recently notched one of its best six-month stretches since the 1950s fueled by the resilience of Corporate America, the booming outlook for artificial intelligence and hopes the Federal Reserve will keep cutting rates to prop up the economy. Yet those solid gains combined with the recent narrowness of the advance spurred vulnerability worries. Today's show features: See omnystudio.com/listener for privacy information.