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Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.  Watch us LIVE on YouTube: http://bit.ly/3vTiACF.

  1. 2 HR AGO

    The Trump Family is Now Banking with Citi

    Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.After years getting shunned by major banks, Donald Trump’s money has found another place to call home: Citigroup Inc.The president’s son, Eric Trump, signed up as a client of the third-largest US lender and established a trust there that holds some of his father’s money, according to people with direct knowledge of the matter, who asked not to be named discussing the confidential arrangements.The relationship started after Chief Executive Officer Jane Fraser reached out to congratulate President Trump on his election win in November. The new trust is a sensitive topic inside the bank, which weighed how to limit access to information beyond key staff — such as wealth management chief Andy Sieg, who led talks with Eric Trump, and Kent Lucken, a Citigroup banker handling the relationship, some of the people said.The unwillingness of many banks to safeguard Donald Trump’s wealth has irritated the president, who publicly lashed out this year at JPMorgan Chase & Co. and Bank of America Corp., claiming they refused his money. Both firms have said they don’t deny business on ideological grounds.Traditional financial institutions “did everything they could to try and cancel us,” Eric Trump said in a Bloomberg Television interview last month. The president told CNBC he “ended up going to small banks all over the place.” A Citigroup spokesperson declined to comment. There was no response to a request for comment from the Trump Organization, the family’s real estate business where Eric Trump is a top executive.Today's show features: Bloomberg News Banking Reporter Todd Gillespie on Trump’s Wealth, Once Spurned by Banks, Gets New Home at Citi Scott Wisniewski, President of AST SpaceMobile, on the market for cellular broadband in space and competing with Starlink Bloomberg News Managing Editor, Media & Entertainment, Lucas Shaw on the Bloomberg Businessweek cover story profiling Mr. Beast Drive to the Close with Adrianne Yamaki, Founder and Managing Partner of Strategic Wealth Capital See omnystudio.com/listener for privacy information.

    44 min
  2. 1 DAY AGO

    What a Government Shutdown Means

    Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.White House Budget Director Russell Vought is planning to swiftly dismiss federal workers, a sign that Republicans will lean into hardball tactics to pressure Democrats to cave to end a government shutdown.Vought told House lawmakers Wednesday that some federal agencies will move to terminate workers within one to two days, according to people familiar with the remarks, who requested anonymity to discuss a private meeting.White House Press Secretary Karoline Leavitt told reporters that layoffs would happen within “two days, imminent, very soon” but declined to give any details about what agencies or positions would be targeted.President Donald Trump and his team have moved quickly to capitalize on the shutdown to shrink the size of the federal government.The administration earlier Wednesday halted $18 billion in federal funding for infrastructure projects in New York City, including for the Second Avenue Subway project and Hudson Tunnel Project.Today's show features: Bloomberg Intelligence Senior Policy Analyst Nathan Dean on the US Government Shutting Down Her Excellency Noor bint Ali Alkhulaif, CEO of Bahrain Economic Development Board and Kingdom of Bahrain’s Minister of Sustainable Development Angie Franks, CEO of Kalderos, and Bloomberg News Health Reporter Damian Garde on the Trump administration securing drug pricing deals with pharmaceutical companies Drive to the Close with Alexis Browne Roberts, COO & Portfolio Manager at Alexis Investment Partners   See omnystudio.com/listener for privacy information.

    44 min
  3. 2 DAYS AGO

    Trump Threatens ‘A Lot’ of Firings in Looming US Shutdown

    Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump threatened mass firings of federal workers as the US hurtles toward a shutdown with Democrats and Republicans at an impasse over funding the government.“We may do a lot and that’s only because of the Democrats,” Trump said in response to a question about the number of government employees who could be dismissed during a shutdown. The White House last week directed agencies to draw up plans for widespread firings if the government closed down. So far, no agencies have explicitly called for terminations in their shutdown plans. With just hours to go until a midnight deadline, the deadlock over spending threatens to paralyze many US government operations for the first time in nearly seven years, causing the suspension of services for Americans and paychecks for federal workers. As many as 750,000 federal workers could be temporarily furloughed, even if Trump doesn’t proceed with permanent dismissals, the nonpartisan Congressional Budget Office estimated.Today's show features: Bloomberg Businessweek Senior Reporter Max Chafkin and Bloomberg Intelligence Senior Policy Analyst Nathan Dean on Wednesday's government shutdown deadline and Russell Vought’s influence on the negotiations Kevin Gordon, Senior Investment Strategist for Charles Schwab, on market concentration concerns Dr. Jenny Rooke, Founder and Managing Director of Genoa Ventures, on the funding environment for biotech Jan van Eck, CEO of VanEck, on the market for ETFs and mutual funds, and the boom in gold   See omnystudio.com/listener for privacy information.

    39 min
  4. 3 DAYS AGO

    Trump Says Netanyahu Agreed to 20-Point Plan to End Gaza War

    Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.|President Donald Trump and Israeli Prime Minister Benjamin Netanyahu said they had agreed to a 20-point plan designed to end the war in Gaza, though the prospects for peace remained unclear without the direct involvement of Hamas.Trump said the framework had the support of other leaders from the Middle East and Muslim majority nations during a press conference Monday alongside Netanyahu, suggesting it could lay the ground for a broader peace in the region.Still, the proposal — which mandates Hamas have no role in the future of Gaza — must be accepted by the militant group, which would need to agree to substantial concessions. Hamas, which sparked the war with an Oct. 7, 2023, attack on Israel said ahead of the Trump-Netanyahu meeting that it had not yet seen the plan and would need to study the proposal.Trump warned that “if Hamas rejects the deal” then Netanyahu would “have our full backing” to destroy the militant group.Today's show features: Bloomberg News Jerusalem Reporter Dan Williams on Israeli Prime Minister Benjamin Netanyahu’s meeting with President Donald Trump Josh Weinstein, CEO of Carnival Corporation, on quarterly earnings and the outlook Joyce Huang, Senior Client Portfolio Manager for Fixed Income, American Century Investments, on the fixed income market Bloomberg News Managing Editor for the Deals Team Liana Baker on Electronic Arts agreeing to sell itself to Saudi Arabia's sovereign wealth fund and private equity firms in a deal that values the company at about $55 billion See omnystudio.com/listener for privacy information.

    39 min

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Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.  Watch us LIVE on YouTube: http://bit.ly/3vTiACF.

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