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Yaccarino Stepping Down as CEO of Musk’s X After Two Years Jul 09, 2025

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Linda Yaccarino, who was hired two years ago by Elon Musk as chief executive officer of X, is stepping down less than three months after the social-media platform was absorbed by Musk’s artificial intelligence startup, xAI.
“After two incredible years, I’ve decided to step down as CEO of X,” Yaccarino said in a post on X Wednesday. “I’ll be cheering you all on as you continue to change the world.”
The former NBCUniversal executive was hired by Musk in May 2023 after he’d already fired or lost about 75% of employees at the company previously called Twitter. Over the course of her two-year tenure, Yaccarino was charged with reversing an advertiser exodus from the platform, triggered in part by Musk’s own erratic content moderation decisions and posts. Advertisers were concerned that their products would be listed next to hate speech or violent content.
It was a difficult task. X revenue fell by close to 50% and missed internal targets in 2023, and several major advertisers departed the platform or paused spending after Musk endorsed an antisemitic post in late 2023. He told marketers who were boycotting the platform to “Go f—- yourself” at a conference after the incident. At the time, Yaccarino told staff that the company’s “free speech” mission would continue with or without advertiser support. “Our principles do not have a price tag, nor will they be compromised — ever,” Yaccarino wrote.
Revenue has since improved from those lows, and advertising sales were projected to increase 16.5% this year, according to Emarketer. Yaccarino, who spent more than 11 years as a top advertising executive at NBCUniversal, is known for her strong relationships in the ad world.
Today's show features:

Dan Ives, Global Head of Technology Research at Wedbush Securities top headlines from the tech industry including Nvidia’s market cap and Elon Musk’s social media response to Ives making suggestions for the Tesla board
Wendy Cutler, Vice President at the Asia Society Policy Institute on President Donald Trump’s tariffs impacting Asian trading partners
Bloomberg News US Semiconductor & Networking Reporter Ian King on Nvidia reaching a market cap of $4 trillion
Dr. Steven Skancke, Chief Economic Advisor at Keel Point on FOMC minutes and the White House’s criticism of Federal Reserve Chair Jerome Powell

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ICYMI: The Banks of Tomorrow Jul 09, 2025

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Payments and stablecoin firm Ripple Labs Inc. and crypto custodian BitGo Inc. have applied for national bank charters, joining a crush of upstart financial services companies seeking such approval. BitGo, which custodies billions of dollars in crypto assets for clients, is weighing an initial public offering as soon as this year, Bloomberg News previously reported. The custodian’s corporate structure already includes two state-regulated trust companies, one in New York and one chartered in South Dakota.
Bloomberg News personal finance reporter Paige Smith details the push by tech-focused firms into the traditional US financial system. Paige speaks with Tim Stenovec and Emily Graffeo on Bloomberg Businessweek Daily.

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Trump Vows No Tariff Extension, Hardens Threats on Copper, Drugs Jul 08, 2025

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Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF.
President Donald Trump vowed to push forward with his aggressive tariff regime in the coming days, stressing he would not offer additional extensions on country-specific levies set to now hit in early August while indicating he could announce substantial new rates on imports of copper and pharmaceuticals.
The posturing on social media and at a Cabinet meeting on Tuesday came after traders initially shrugged off a series of letters and executive actions Trump issued Monday, pushing back the deadline for his so-called “reciprocal” tariffs while announcing the latest rates he planned for more than a dozen countries that had not succeeded in brokering quick trade agreements.
That changed Tuesday as Trump signaled a renewed determination to push ahead with his plans to heavily tax foreign imports. Trump said he would offer no additional delays on the country-specific tariffs, despite the previous night allowing he was “not 100% firm” on his August 1 deadline.
He said he would impose a 50% rate on copper products being sent into the US, surging futures of the commodity to their largest intraday gain in data going back to at least 1988.
Today's show features:

Bloomberg News Economic Statecraft Reporter Joe Deaux on President Donald Trump's latest tariff announcements
Libby Cantrill, Managing Director and the head of public policy for PIMCO on corporate positioning based on changes to White House trade policy and tariffs
Ellen Wald, President of Transversal Consulting and Senior Fellow at the Atlantic Council on the global energy market and this week’s OPEC+ meeting
Bloomberg News Managing Editor for Global Consumer Tech Mark Gurman on Apple’s problems in the AI arms race

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ICYMI: The Next Sports and Entertainment Empire Jul 08, 2025

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BSE Global, the parent company of the NBA's Brooklyn Nets, the WNBA's New York Liberty, as well as their home arena, Barclays Center, has built a business model across sports, entertainment, hospitality and media. The company believes that its array of multiple businesses enables it to enjoy operational leverage and extract cross-functional synergies.
Sam Zussman, CEO of BSE Global, explains how Brooklyn's unique culture and history make it the ideal home base for the "experiential" powerhouse. Sam speaks with Tim Stenovec, Emily Graffeo and Randall Williams on Bloomberg Businessweek Daily.

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Trump Announces New Set of Tariff Rates Ahead of August Deadline Jul 07, 2025

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Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF.
President Donald Trump unveiled the first in a wave of promised letters that threaten to impose higher tariffs rates on key trading partners, including levies of 25% on goods from Japan and South Korea beginning Aug. 1.
Trump also announced 25% rates on Malaysia and Kazakhstan, while South Africa would see a 30% tariff and Laos and Myanmar would face a 40% levy. The nations were the first in what the president promised would be a flurry of unilateral warnings and trade deals announced on Monday, two days before agreements are due from trading partners facing his April 2 so-called reciprocal levies.
“Our relationship has been, unfortunately, far from Reciprocal,” Trump wrote in the letters.
Trump’s second-term rush to overhaul US trade policies has served as a steady source of uncertainty for markets, central bankers and executives trying to game out the effect on production, inventories, hiring, inflation and consumer demand — routine planning that’s hard enough without costs like tariffs that are on one day, off the next.
Today's show features:

US Representative Kathy Castor (D-FL) on new tariff announcements from the White House and the passage of President Donald Trump’s tax and spending bill
Bloomberg Economics Geo-Economic Analyst for Latin America Jimena Zuniga on this week’s BRICS summit in Rio de Janeiro
Bloomberg News Texas Bureau Chief Julie Fine on deadly flash flooding in the Lone Star State
Bryan Fairbanks, President and CEO of Trex, on the company outlook and key trends in US manufacturing

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Bloomberg Businessweek Weekend - July 4th, 2025 Jul 04, 2025

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Featuring some of our favorite conversations from our visit to Michael Loeb's estate in Southhampton Long Island for the Uncharted Community Summit.
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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Pre-Fourth of July Special: Stock Jump on Jobs Surprise, Trump's Tax Bill Passes Jul 03, 2025

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Bonds fell and the dollar rose as stronger-than-forecast employment growth soothed concern the US economy is poised to slow, stanching speculation the Federal Reserve will need to cut interest rates any time soon. Stocks hit fresh all-time highs.

Treasury two-year yields surged 10 basis points to 3.88%. Swap traders saw almost no chance of a July Fed cut, compared with a roughly 25% probability seen before the data. The chance of a move in September ebbed to about 70%. The S&P 500 climbed 0.8%. After the close of trading in a shortened pre-holiday session, the House passed President Donald Trump’s tax bill.

On a special pre-holiday edition of The Close, hosts Romaine Bostick and Matt Miller speak with:

- Bloomberg Opinion columnist Jonathan Levin

- Liz Ann Sonders, Charles Schwab managing director and chief investment strategist

- Patrick de Haan, head of petroleum analysis at GasBuddy

- Michael Balboni, former New York State Director of Homeland Security

- Scott Bessent, US Treasury Secretary

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ICYMI: The New Face of VC Jul 03, 2025

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Collab Capital is a venture firm investing at the intersection of innovation and inclusion. It backs early-stage, tech-enabled companies addressing critical needs across workforce, healthcare and community infrastructure. On June 11, 2025, Collab announced the close of its second fund with $75 million in committed capital.
Jewel Burks Solomon, Co-Founder and Managing Partner at Collab Capital, explains how she draws on her experience as the first Head of Google Startups in the United States to help new companies get off the ground.

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S&P 500 Hits Record on Vietnam Deal as Tech Climbs Jul 02, 2025

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Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF.
A rally in several big techs fueled gains in stocks, with the market extending its advance as President Donald Trump said he reached a trade deal with Vietnam. Treasuries fell as a selloff in UK bonds underscored deficit worries. The dollar was steady.
Following earlier losses driven by weak jobs data, the S&P 500 rose to fresh all-time highs. Nike Inc. climbed alongside other apparel and footwear companies amid hopes the latest US trade deal will avert a potential supply-chain catastrophe. Tech megacaps led gains, with Tesla Inc. jumping 5% as a drop in sales was seen as better than feared. Marvell Technology Inc. slid about 2.5% on a report that Microsoft Corp. is scaling back its ambitions for AI chips to overcome delays.
Longer-dated Treasuries underperformed, following moves in the UK, where concerns about Chancellor of the Exchequer Rachel Reeves’ future reignited questions over the nation’s fiscal position. Investors have raised similar concerns in the US, where the Senate passed Trump’s sweeping tax and spending bill.In the run-up to the jobs report, economists forecast employers added 110,000 jobs in June — the fewest in four months — amid a slight rise in the unemployment rate to 4.3%. The Bureau of Labor Statistics report is due Thursday, a day earlier than usual because of the Independence Day holiday.
Data Wednesday showed employment at US companies fell for the first time in over two years. Despite signs of a downshift, Federal Reserve Chair Jerome Powell has repeated the labor market remains solid. Policymakers have refrained from lowering interest rates this year as they wait to see the impact of tariffs on inflation.
Today's show features:

Brent Meyer, Assistant Vice President and Economist in the Economic Survey Research Center at the Federal Reserve Bank of Atlanta and Bloomberg TV and Radio International Economics & Policy Correspondent Mike McKee on a new report from the Atlanta Fed: “The Evolving Impact of Tariffs on CFOs' Outlook”
Bloomberg Businessweek writer Deena Shanker on her story about SNAP cuts in the Federal tax and spending bill potentially hurting people in red and blue states alike
Bloomberg Businessweek Editor and Writer Laura Bliss on her Bloomberg Big Take about landfills around the US reaching scorching temperatures and getting nearby residents sick
Fred Thiel, Chairman and CEO of MARA on the regulatory outlook for Bitcoin and the company’s energy consumption and deployment strategy in terms of Bitcoin mining

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ICYMI: Amazon's Robotic Ranks Reach One Million Jul 02, 2025

Show notes

Amazon's robotics unit has just deployed its one millionth robot, building on its position as the world's largest manufacturer and operator of mobile robotics. This milestone robot was recently delivered to a fulfillment center in Japan, joining a global network that now spans more than 300 facilities worldwide.
Tye Brady, Chief Technologist for Amazon's expansive robotics unit, explains how new AI technology will make the world's largest fleet of industrial mobile robots smarter and more efficient.

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