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Nvidia Delivers Solid Earnings; Musk Distances Himself From DC May 28, 2025

Show notes

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
Nvidia Corp., the world’s most valuable chipmaker, gave an upbeat revenue forecast for the current period, even as a slowdown in China weighed on results.
Sales will be about $45 billion in the second fiscal quarter, which runs through July, the company said on Wednesday. That included the loss of roughly $8 billion in revenue from China because of export controls. The forecast was in line with analysts’ estimates, according to data compiled by Bloomberg.
The outlook shows that Nvidia is ramping up production of Blackwell, its latest semiconductor design. The chipmaker — now the world’s largest by revenue — dominates the market for AI accelerators, the components that help develop and run artificial intelligence models. And an ever-broader lineup of hardware and software is letting Nvidia sell more products to customers.
As part of that push, the company is increasingly offering its chips as part of whole computer systems — a move it says is necessary to speed up the deployment of more complex and powerful technology. Nvidia expects AI infrastructure to eventually transform much of the economy, part of what Chief Executive Officer Jensen Huang refers to as a new industrial revolution.
Today's show features:

Jay Goldberg, Senior Analyst at Seaport Research Partners on Nvidia earnings
Bloomberg Businessweek Senior Reporter Max Chafkin
Bloomberg News Cross-Asset Reporters Emily Graffeo and Vildana Hajric

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ICYMI: Your AI Accountant Is Here May 28, 2025

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Sukhinder Singh Cassidy, Chief Executive Officer of cloud software company Xero, discusses the New Zealand-based company's outlook and its push to grow its small-business customer base in the United States.
Xero is a global small business platform that helps customers supercharge their business by bringing together the most important small business tools, including accounting, payroll and payments. Singh Cassidy cites strong revenue growth in the US from its most recent earnings report, and also explains how the emergence of artificial intelligence could help lift her business to new heights.

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Stocks Climb on Economic and Trade Optimism May 27, 2025

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
Wall Street kicked off the week with a rally in stocks as consumer confidence rebounded sharply while the US and the European Union sped up trade talks. A global surge in bonds also helped sentiment.
As equities halted a four-day slide, the S&P 500 climbed 2%. Nvidia Corp. paced gains in megacaps ahead of its results. Treasuries got a boost, pushing the 30-year yield below 5% on signs Japan will be ready to calm jittery debt markets. The moves in the US extended after a sale of two-year notes was met with solid bidding metrics. The dollar rose against all developed-market currencies.
President Donald Trump noted he was encouraged the EU is speeding up negotiations on trade, days after he said the bloc would face 50% tariffs if they fail to reach a deal with the US. Trump extended a deadline for those taxes to take effect to July 9 after a call with European Commission President Ursula von der Leyen.
Today's show features:

Meghan Robson, Head of US Credit Strategy for BNP Paribas
Bloomberg News Managing Editor for Global Consumer Tech Mark Gurman
Bloomberg News Managing Editor for Deals Liana Baker
Nate Rempe, President and Chief Executive Officer of Omaha Steaks

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US Steel-Nippon "Partnership" with Marc Morial May 27, 2025

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Marc Morial, President and CEO of the National Urban League, speaks on what has transpired in the five years since the killing of George Floyd. Plus his thoughts on the US Steel & Nippon Steel "partnership"

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Bloomberg Businessweek Weekend - May 23rd, 2025 May 23, 2025

Show notes

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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Trump Targets Samsung and Apple Phones with 25% Tariff Threat May 23, 2025

Show notes

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
President Donald Trump said that the tariffs he threatened against Apple Inc. earlier Friday would also be aimed at a wider range of device makers including Samsung Electronics Co. to spur them into moving manufacturing of their products to the US.
“It would be more,” Trump said when asked at the White House whether his tariff threat would only apply to Apple. “It would be also Samsung and anybody that makes that product, otherwise it wouldn’t be fair.” Trump indicated that the import levies would be “appropriately done” and ready for implementation by the end of June but provided no other details.
The president’s remarks clarified his social media post from earlier in the day warning that Apple would face tariffs of 25% if the Cupertino, California-based company failed to shift production of its iconic iPhone to the US from overseas. The warning came days after a Tuesday meeting between Trump and Apple Chief Executive Officer Tim Cook at the White House, a US official said.
“He said he’s going to India to build plants. I said, that’s okay to go to India, but you’re not going to sell into here without tariffs, and that’s the way it is,” Trump said. Apple’s stock fell as much as 3.9% in New York trading. Separately Friday, Trump also threatened a 50% tariff on the European Union that would go into effect June 1, which weighed on the broader market.
Today's show features:

Bloomberg News White House Editor Jordan Fabian on Trump's 25% Tariff Threat on Apple
CFO Briefing: Jill Woodworth, Chief Financial Officer of Prenuvo and Bloomberg News Senior Editor Nina Trentmann
Rod Baltzer, Chief Executive Officer of Deep Isolation and Bloomberg News Energy Reporter Will Wade

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ICYMI: Tariff-Free Ways to Reindustrialize America May 23, 2025

Show notes

Ben Reinhardt, CEO of Speculative Technologies and Businessweek Contributing Writer, breaks down how the US should study China's playbook, create new manufacturing paradigms, and preserve American strengths, such as its scientific and technological leadership and its relationships with allies.
He argues this can be achieved by attracting foreign investment, building industrial hubs, developing new technologies like artificial intelligence, and fostering a welcoming environment for skilled immigrants, rather than relying on tariffs and isolationist policies

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US Bans Harvard From Enrolling Foreigners May 22, 2025

Show notes

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
The Trump Administration blocked Harvard University from enrolling international students, delivering a major blow to the school and escalating its fight with elite colleges to unprecedented levels.
The US revoked Harvard’s Student and Exchange Visitor Program certification, meaning foreign students can no longer attend the university. Existing international students must transfer or lose their legal status, the Department of Homeland Security said in a statement Thursday.
“Harvard’s leadership has created an unsafe campus environment by permitting anti-American, pro-terrorist agitators to harass and physically assault individuals, including many Jewish students, and otherwise obstruct its once-venerable learning environment,” according to the statement. The blockade on international student enrollment will compound the financial pressures for Harvard. The Trump administration has frozen more than $2.6 billion of Harvard’s funding and cut off future grants in an increasingly contentious standoff over the school’s handling of alleged antisemitism on campus and government demands for more oversight.
Trump has also called for the institution to lose its tax-exempt status, a move that the Cambridge, Massachusetts-based school has cautioned would have “grave consequences for the future of higher education in America.”
Harvard responded by calling the government’s latest action unlawful.
Today's show features:

Bloomberg Team Leader for DC Breaking News Kasia Klimashinska on US Bans Harvard From Enrolling Foreigners
Bloomberg News Finance Reporter Max Abelson on the Bloomberg Big Take: The Trump Family’s Money-Making Machine
Bloomberg Intelligence Consumer Finance Analyst Ben Elliott
Drive to the Close with Kathy Jones, Chief Fixed Income Strategist, Schwab Center for Financial Research

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ICYMI: The Future of Language-Learning May 22, 2025

Show notes

Matthew Skaruppa, Chief Financial Officer of Duolingo, details the language-learning platform's push into artificial intelligence.
A Bloomberg Intelligence analysis indicates Duolingo's AI investments and expansion into math, music and chess lessons have the potential to attract more users to the platform and maintain its downloads lead in the large and fragmented language-learning market. Underpinned by the Duolingo Max subscription tier and its realistic speaking exercises, revenue could gain 33-35% in the next 12-18 months, based on our calculation and consensus.
New subscribers, pricing leverage and recent changes to Apple's App Store policy may somewhat offset the cost of AI enhancements, supporting margins and sustainable growth.
Skaruppa will also be featured on the latest installment for the Bloomberg TV series, “Chief Future Officer.”

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Stocks Get Hit as Weak Treasury Sale Boosts Yields May 22, 2025

Show notes

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

Wall Street’s worries about a ballooning deficit that threatens America’s status as a safe haven were reflected in a $16 billion Treasury sale that saw lackluster demand - with stocks, bonds and the dollar falling.

Treasuries got hit after a weak auction of 20-year bonds, whose 5% coupon rate was the highest since the tenor was reintroduced in 2020. Long-term debt bore the brunt of the selling, with 30-year yields jumping over 10 basis points. The equity market saw its worst session in a month, with the S&P 500’s slide topping 1.5%.

The greenback dropped against most major currencies. Bitcoin pared its advance, but was still set for a record.

Traders have been piling into bets that long-term bond yields would surge on concerns over the US’s swelling debt and deficits, with Moody’s Ratings on Friday lowering the nation’s credit score below the top triple-A level. For many, the message was: Unless America gets its finances in order, the perceived risks of lending to the government will rise.

The White House amped up the pressure on Republicans on Wednesday urging lawmakers to quickly approve President Donald Trump’s signature tax bill, adding that a failure to do so would be the “ultimate betrayal.”
Today's show features:

Bloomberg News Rates Reporter Rates Reporter Michael Mackenzie
Sandy Villere, Portfolio Manager for Villere & Co.
Jenny Rooke, PhD, Founder and Managing Director of Genoa Ventures
MP Materials Co-Founder, Chairman and CEO Jim Litinsky with Bloomberg News metals and mining reporter Joe Deaux

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