Listen for top interviews from Bloomberg News.
Hear conversations with the biggest names in finance, politics, technology, foreign relations, sports and entertainment.
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Listen for top interviews from Bloomberg News.
Hear conversations with the biggest names in finance, politics, technology, foreign relations, sports and entertainment.
Copyright: © 2023 Bloomberg and iHeartPodcasts
Speaking to Bloomberg’s Francine Lacqua following the Bank of England’s decision to hold interest rates, Governor Andrew Bailey highlighted how geopolitical unpredictability and volatile oil prices pose ongoing upside risks to inflation, even as domestic price metrics temporarily eased. He noted a cooling "low-hire, low-fire" UK labor market, driven by broader economic softening rather than early-stage AI adoption, where reduced turnover is driving up youth unemployment and creating hurdles for job seekers.
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Starbucks Chairman and CEO Brian Niccol says that customers are spending more per visit by adding drink additions and food, while improved staffing and store upgrades are boosting transactions. Speaking to Romaine Bostock on Bloomberg Open Interest, Niccol says that the company's turnaround efforts are driving broad-based sales gains across customer demographics.
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White House National Economic Council Director Kevin Hassett says he has full confidence in Federal Reserve Chairman Kevin Warsh after the central bank decided to keep rates unchanged. Speaking on "Bloomberg Open Interest," Hassett also weighs in on current inflation levels and says he doesn't see markets in bubble territory because of AI.
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Senator John Kennedy (R-LA) says maintaining sanctions and a blockade on Iran will be "painful" for Americans ahead of the midterms, but argues that sustaining the pressure for several more months may be the most effective way to move Tehran. The Louisiana Republican calls inflation "pernicious" and says the Federal Reserve will have to raise rates if it is not brought under control. Sen. Kennedy also says that, "if I had to bet," the Senate Judiciary Committee will not vote on Todd Blanche's nomination for attorney general tomorrow. He talks to Bloomberg's Joe Mathieu and Kailey Leinz.
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Listen for instant reaction and analysis of megacap tech earnings from Meta, Microsoft and Qualcomm.
Meta Platforms gave a disappointing revenue forecast for the current quarter, intensifying investor concerns about the social media giant’s unprecedented spending on artificial intelligence and sending shares lower afterhours. Microsoft’s cloud unit grew at the fastest pace in four years, suggesting that the company’s computing infrastructure and artificial intelligence services continue to make inroads with businesses. Shares of Microsoft rose in extended trading. Qualcomm, the largest maker of smartphone processors, gave a weak profit forecast for the current quarter, signaling that component shortages and rising costs are taking a toll on its main market. The company’s stock fell afterhours.
To break down all of this, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
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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. Warsh insisted policymakers’ decision to leave interest rates unchanged wasn’t a sign of inertia at the central bank, which he reiterated is committed to tackling inflation. The Federal Open Market Committee voted 9-3 to hold the benchmark federal funds rate in a range of 3.5% to 3.75%. Dallas Fed President Lorie Logan, Cleveland’s Beth Hammack and Minneapolis Fed chief Neel Kashkari dissented in favor of raising rates by a quarter percentage point. The fractured vote signaled growing conviction among some policymakers that higher rates are needed to curb resurgent price pressures. The committee’s post-meeting statement was otherwise identical to the one issued following their June meeting, with officials repeating their pledge to “deliver price stability.”
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Bloomberg's Tom Keene, Jon Ferro and Lisa Abramowicz break down the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance. Federal Reserve officials left interest rates unchanged, but a fractured vote signaled growing conviction among some policymakers that higher rates are needed to curb resurgent inflation. The Federal Open Market Committee voted 9-3 to hold the benchmark federal funds rate in a range of 3.5% to 3.75%. Dallas Fed President Lorie Logan, Cleveland’s Beth Hammack and Minneapolis Fed chief Neel Kashkari dissented in favor of raising rates by a quarter percentage point. The committee’s post-meeting statement was otherwise identical to the one issued following their June meeting. Officials repeated their pledge to “deliver price stability.”
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Energy Secretary Chris Wright said that a new $100 billion data center campus built by NextEra energy and Brookfield will be powered by a nuclear and gas supply built on federal lands and will provide its own water. Wright also discussed the state of energy prices as the Iran war heats back up, and said it's not possible to forecast where gas prices will be by Labor Day.
Wright spoke with Bloomberg Balance of Power hosts Joe Mathieu and Kailey Leinz.
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The CEO of L’Oréal, the world’s largest cosmetics company, says the performance in the Middle East was below expectations but somewhat compensated by a rebound of growth in China. Nicolas Hieronimus spoke exclusively with Bloomberg’s Francine Lacqua from Paris.
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SoFi Technologies announced record second-quarter revenue of $1.2 billion, driven by 40% revenue growth and strong profitability metrics including a 30% EBITDA margin and robust net income margin. The company also raised its full-year revenue guidance, reflecting confidence in continued member growth, product adoption, and cross-selling success. However, SoFi maintained its earnings guidance unchanged, citing the need to continue investing in growth and uncertainty from anticipated interest rate increases.
SoFi CEO Anthony Noto emphasized the company’s long-term profitability outlook while explaining the cautious approach to near-term earnings. He spoke with Bloomberg Tech host Ed Ludlow.
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