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    Business

    Bloomberg Businessweek

    Listen for reporting from the magazine that helps global leaders stay ahead. Hosts Carol Massar and Tim Stenovec cover the changing world of money, power and technology. You can watch and listen to Businessweek LIVE on YouTube, weekdays from 2PM to 5PM ET: http://bit.ly/3vTiACF. 

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    Copyright: 2024 iHeartMedia, Inc. © Any use of this intellectual property for text and data mining or computational analysis including as training material for artificial intelligence systems is strictly prohibited without express written consent from iHeartMedia

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    Latest Episodes:
    US, Mexico Near Deal to Cut Steel Duties and Cap Imports Jun 10, 2025
    Show notes

    Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

    The US and Mexico are closing in on a deal that would remove President Donald Trump’s 50% tariffs on steel imports up to a certain volume, according to people familiar with the matter, a revamp of a similar deal between the trade partners during his first term.

    Trump hasn’t been directly involved in the negotiations and would need to sign off on any deal. The talks are being led by Commerce Secretary Howard Lutnick, according to the people, who asked not to be identified as the discussions are private.
    The people said the agreement hasn’t been finalized. Under its current terms, it would allow US buyers to import Mexican steel duty-free as long as they kept total shipments below a level based on historical trade volumes, according to the people. The new cap would be higher than what was allowed under a similar deal during Trump’s first term, they said, which was never a fixed figure but designed to “prevent surges.”
    The White House didn’t immediately respond to a request for comment. Mexican President Claudia Sheinbaum’s office also didn’t respond to a request for comment.
    Today's show features:

    • Bloomberg News Economic Statecraft Reporter Joe Deaux
    • Bloomberg News National Team Managing Editor Sarah McGregor on rising social unrest in Los Angeles
    • Jeetu Patel, President and Chief Product Officer at Cisco
    • Fran Katsoudas, Executive Vice President and Chief People, Policy & Purpose Officer at Cisco

    See omnystudio.com/listener for privacy information.


    ICYMI: Trump Says China ‘Not Easy’ Amid Trade Talks Jun 10, 2025
    Show notes

    Trade talks between the US and China will continue into a second day, according to a US official, as the two sides look to ease tensions over shipments of technology and rare earth elements.
    Representatives for both nations ended their first day of negotiations in London after more than six hours at Lancaster House, a 19th century mansion near Buckingham Palace. The talks concluded around 8 p.m. London time and will resume Tuesday in the British capital, the official said.
    “We are doing well with China. China’s not easy,” Trump told reporters at the White House on Monday. “I’m only getting good reports.”
    Gracelin Baskaran, Director of the Critical Minerals Security Program at the Center for Strategic and International Studies discusses the importance of rare earth materials to American defense and economic initiatives.

    See omnystudio.com/listener for privacy information.


    Pentagon Sending 700 Marines to Counter Los Angeles Protests  Jun 09, 2025
    Show notes

    Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

    The Trump administration is sending about 700 active duty Marines to reinforce the National Guard in response to protests in Los Angeles, a person familiar with the matter said, continuing an escalation that California officials have called unwarranted.

    A Defense Department official said the Marines, based at the Marine Corps Air Ground Combat Center in Twentynine Palms, California, were on the move after getting notice over the weekend. CNN reported the plans earlier Monday.

    Sending active-duty Marines marks an escalation in force from President Donald Trump in response to the protests. California Governor Gavin Newsom had earlier criticized Defense Secretary Pete Hegseth for saying Marines could be deployed, calling the threat “deranged behavior.”

    US law generally bars the use of the active-duty U.S. military — the Army, Navy, Air Force and Marines — from carrying out domestic law enforcement. The law doesn’t apply to state-controlled National Guard forces. On Sunday, Trump signed an order directing the US Northern Command to assume control of the National Guard and dispatch at least 2,000 soldiers to the area.
    Today's show features:

    • Bloomberg News National Team Managing Editor Sarah McGregor on rising social unrest in Los Angeles
    • Dexter Tiff Roberts, Professor of Chinese Politics and Modern Chinese History at the University of Montana on US-China relations and the Chinese position on trade
    • Bloomberg Managing Editor for Global Consumer Tech Mark Gurman on his takeaways from the start of Apple’s Worldwide Developers Conference
    • Wendy Barnes, President and CEO of GoodRx on headwinds facing the healthcare and pharmaceuticals industries

    See omnystudio.com/listener for privacy information.


    US, Chinese Teams to Meet in London, Abrego Garcia Charged Jun 07, 2025
    Show notes

    Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
    US and Chinese negotiators will resume trade talks on June 9 in London, President Donald Trump announced, as the world’s two largest economies look to resolve a simmering dispute over tariffs and technology that has unnerved markets.
    US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer will meet Monday “with Representatives of China, with reference to the Trade Deal,” Trump posted Friday on social media. “The meeting should go very well.”
    The new round of talks follow a 90-minute call between Trump and Chinese leader Xi Jinping on Thursday that saw the two agree to defuse growing tensions spurred by concerns over the flow of critical minerals needed by American firms.
    Earlier talks between the two countries in Switzerland in May resulted in a tariff truce between Beijing and Washington that set the stage for further talks on trade. But negotiations between the rivals stalled after the Geneva meeting, with both sides accusing the other of violating the agreement that brought down duties from massive highs.
    Today's show features:

    • Bloomberg Balance of Power cohost Joe Mathieu
    • Phil Gramm, Economist and former Republican US Senator from Texas
    • Gary Bettman, Commissioner of the National Hockey League on the Stanley Cup Finals

    See omnystudio.com/listener for privacy information.


    Bloomberg Businessweek Weekend - June 6th, 2025 Jun 06, 2025
    Show notes

    Featuring some of our favorite conversations from the Bloomberg Tech Summit in San Francisco.
    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.


    ICYMI: AI Driving Next-Gen Drones Jun 06, 2025
    Show notes

    Florian Seibel, co-founder and CEO of Quantum-Systems GmbH, discusses the rapid advancements in drone technology, the role of drones in warfare and how artificial intelligence factors in.
    The former German army helicopter pilot and aeronautical engineer in 2015 co-founded a maker of reconnaissance drones, aiming to tap into his creative side after years in the military. In the past decade, his company, backed by Peter Thiel, has grown to about 400 employees worldwide.
    Its unmanned aerial vehicles were first used primarily in low-stress fields such as agriculture and archaeology. But today, 90% of its sales go to the military sector, with the Munich company providing thousands of drones to Ukraine, where its AI features can keep the aircraft flying even when Russian jamming disrupts steering, navigation and communication.

    See omnystudio.com/listener for privacy information.


    Trump Targets Musk’s US Contracts, Subsidies as Feud Grows Jun 05, 2025
    Show notes

    Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
    President Donald Trump proposed ending Elon Musk’s government contracts and subsidies, escalating the war of words between the world’s richest man and the president he helped elect.
    “The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts. I was always surprised that Biden didn’t do it!” Trump posted on his social media site Thursday.
    Trump’s threat strikes at a main source of the billionaire’s wealth. Musk’s Tesla Inc. and Space Exploration Technologies Corp. have benefited from federal contracts and subsidies. Ending contracts with Musk’s companies could prove legally and practically unwieldy, given they are deeply intertwined with US space and defense operations.
    Total revenue for SpaceX and Tesla from federal unclassified contracts since fiscal year 2000 is $22.5 billion, according to Bloomberg Government data. Tesla’s shares fell as much as 18% on Thursday, extending earlier losses after Trump floated ending Musk’s federal relationships.
    “Go ahead, make my day,” Musk posted on X in response to Trump’s threat. The Tesla chief then alleged that Trump’s name appears in the files related to the late New York financier Jeffrey Epstein, who was accused of sex trafficking underage girls and later died by suicide while in federal detention.
    “Time to drop the really big bomb: @realDonaldTrump is in the Epstein files. That is the real reason they have not been made public. Have a nice day, DJT!” Musk wrote. The White House declined to comment on the Epstein accusation.
    Today's show features interviews from the Bloomberg Technology Summit in San Francisco:

    • RJ Scaringe, Founder and CEO of Rivian
    • Bloomberg Technology Co-Host Ed Ludlow
    • Peggy Johnson, CEO of Agility Robotics
    • Ashley Mayer, Co-Founder & General Partner, Coalition Operators and Helen Min, Venture Partner, True Ventures

    See omnystudio.com/listener for privacy information.


    ICYMI: New Milestone for 116-Year-Old Ice Cream Icon Jun 05, 2025
    Show notes

    Tillamook Ice Cream – the fastest-growing family size ice cream brand in the United States – is now officially in production at the new Tillamook County Creamery Association (TCCA) manufacturing facility in Decatur, Ill. As TCCA’s first owned-and-operated manufacturing site outside of Oregon, the production facility opening marks a key milestone in the 116-year-old farmer-owned co-op’s national expansion.


    Tillamook President and CEO David Booth discusses the company’s growing dairy business on the first day of operation for its new plant, as well as the impact of tariffs on profits.

    See omnystudio.com/listener for privacy information.


    Trump Officials Target Columbia Accreditation Over Protests Jun 04, 2025
    Show notes

    Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF.


    The Education Department said Columbia University no longer appeared to meet accreditation standards after concluding that the school is in violation of anti-discrimination laws, the latest effort by the Trump administration to target elite schools over their handling of pro-Palestinian protests.

    Education Secretary Linda McMahon said in a statement that the school’s leadership “acted with deliberate indifference towards the harassment of Jewish students on its campus” after the Oct. 7 attack by Hamas on Israel. The Education Department said it had notified the Middle States Commission on Higher Education that the administration found that the school failed to meaningfully protect students during the protests, violating Title VI of the Civil Rights Act. The department also cited federal law which they said required accreditors to notify member institutions if they were in noncompliance and establish a plan to bring them back into compliance.

    Any revocation of the school’s accreditation could have significant implications for students. Some 21% of Columbia College and Columbia Engineering undergraduates receive the Pell Grant, a type of federal aid for high-need students, according to figures on the university’s website. Removing access to federal student loans would also increase borrowing costs for many students financing their education, while federally-backed work-study programs could also be under threat.

    McMahon has been in communication with university President Claire Shipman since the administration pulled some $400 million in federal grants and contracts from the school in March. Last month, Shipman announced that Columbia was cutting nearly 180 staff members after reductions to its federal funding.


    President Donald Trump and McMahon have previously suggested that conversations with Columbia were headed in the right direction, especially compared to another Ivy-League institution, Harvard University, which has launched legal challenges against the administration’s decision to cancel its federal funding and revoke its license to admit international students.

    The Department of Education does not have the authority to revoke a school’s accreditation, that authority lies with accrediting agencies like MSCHE. But the federal government can stop recognizing an accreditor as a reliable judge of the quality of higher education, which chokes off federal aid from an agency’s member schools.

    Today's show features:

    • Bloomberg News White House Reporter Akayla Gardner on the White House saying Columbia University no longer meets accreditation standards
    • Henrietta Treyz, Co-Founder and Director of Economic Policy at Veda Partners on key fiscal policy and trade issues facing the Trump administration and the GOP-led Congress
    • Brent Schutte, Chief Investment Officer of Northwestern Mutual Wealth Management on the outlook for US monetary and fiscal policy changes
    • Bloomberg News Senior Technology Reporter Dana Hull on the Big Take detailing Elon Musk’s push to bring robotaxis to Austin, Texas even as federal regulators investigate whether the system is safe
    • Bloomberg Businessweek Editor Brad Stone on his Dan Gilbert feature story

    See omnystudio.com/listener for privacy information.


    ICYMI: How Tariffs Impact Global Payments Jun 04, 2025
    Show notes

    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.


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