Trump Vows to Ramp Up India Tariffs; Texas Governor Orders Arrest of Democrats
On today's podcast: 1) President Donald Trump said he would be “substantially raising” the tariff on Indian exports to the US over the Asian nation’s purchases of Russian oil, a move New Delhi slammed as unjustified in an escalating fight between the two major economies. 2) Texas Governor Greg Abbott ordered the arrest of Democratic lawmakers who left the state to block a controversial vote on new congressional maps. 3) Palantir Technologies Inc. reported a 48% increase in revenue for the second quarter to more than $1 billion, citing the “astonishing impact” of artificial intelligence technology on its business.See omnystudio.com/listener for privacy information.
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16:54
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16:54
Trump to Name New Fed Governor; Boeing Workers Strike
On today's podcast: 1) President Donald Trump said he will announce a new Federal Reserve governor and a new jobs data statistician in the coming days, two appointments that may shape his economic agenda amid anxiety over the trajectory of global growth. 2) Workers at Boeing Co.’s St. Louis-area defense factories are striking for the first time in almost three decades after union members rejected the company’s modified contract offer. 3) US Trade Representative Jamieson Greer sounded a cautiously optimistic note on discussions with China on rare earth flows, following trade talks that further steadied ties between the economies.See omnystudio.com/listener for privacy information.
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16:42
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16:42
Daybreak Weekend: Disney Earnings, BP Reports, Apple India Shift
Bloomberg Daybreak Weekend with Tom Busby take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to earnings from Walt Disney and Uber. In the UK – a look ahead to earnings from BP. In Asia – a look at ahead to how US smartphone production will be impacted by Apple’s shift towards India, along with an outlook for China property. See omnystudio.com/listener for privacy information.
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38:55
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38:55
Trump Tariffs Send Stocks Lower; Amazon Falls & Apple Gains on Earning
On today's podcast: 1) Markets take a hit as President Trump unleashes a wave of new tariff rates. The world is facing some of the steepest US tariffs since the 1930s, with an average of 15%, according to the text. So far, the global economy has held up better than many economists expected after Trump’s initial tariff blitz. A rush to beat the elevated rates spurred a front-loading of exports, aiding many Asian economies and shielding US consumers from price spikes.2) Shares of Amazon sell off while Apple rises following the latest tech earnings. Apple reported its fastest quarterly revenue growth in more than three years, with revenue rising 9.6% to $94 billion in the fiscal third quarter. Amazon dropped in premarket trading after projecting weaker-than-expected operating income and trailing the sales growth of its cloud rivals. CEO Andy Jassy said it was "very early days" in artificial intelligence, and that the company's efforts to lower the costs of running AI applications would draw more customers over time.3) Investors prepare for the July jobs report to wrap up a week of key US economic data. Bloomberg Economics predicts July’s seasonally adjusted nonfarm payrolls to increase by 160,000 — higher than the consensus expectation of 105,000.See omnystudio.com/listener for privacy information.
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22:30
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22:30
Instant Reaction: Amazon Falls After Earnings, Cloud Growth Spooks Investors
Amazon.com dropped in late trading after projecting weaker-than-expected operating income and trailing the sales growth of its cloud rivals, leaving investors searching for signs that the company’s huge investments in artificial intelligence are paying off. Operating profit will be $15.5 billion to $20.5 billion in the period ending in September, compared with an average estimate of $19.4 billion. Sales will be $174 billion to $179.5 billion, the company said Thursday in a statement. Analysts, on average, expected $173.2 billion. Chief Executive Officer Andy Jassy is engaged in an AI infrastructure arms race with Microsoft Corp. and Alphabet Inc. that requires heavy spending on data centers. Both of those rivals earlier reported strong earnings showing they are benefiting from the AI boom.For instant reaction and analysis, hosts Carol Massar and Tim Stenovec speak with: Bloomberg Intelligence Senior Technology Analyst Anurag Rana Bloomberg Intelligence Senior Analyst for E-commerce & Athleisure Poonam Goyal See omnystudio.com/listener for privacy information.
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