Bloomberg Businessweek

Listen for reporting from the magazine that helps global leaders stay ahead. Hosts Carol Massar and Tim Stenovec bring you insight on the people, companies and trends shaping today's complex economy.  You can watch and listen to Businessweek LIVE on YouTube, weekdays from 2PM to 5PM ET: http://bit.ly/3vTiACF. 

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    A Blue Owl-Linked Structured Note Is Now Worth Just 47 Cents

    The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. At least one structured note tied to Blue Owl Capital Inc. is being quoted at just 47 cents on the dollar after the asset manager restricted withdrawals from one of its retail-focused private funds.The security, which was issued by a subsidiary of Citigroup Inc., is due later this year. Another 2028 note that was offered by a unit of JPMorgan Chase & Co. is quoted at about 68 cents, while a Bank of Nova Scotia instrument partly tied to Blue Owl was at 87 cents, according to data compiled by Bloomberg. Structured notes are bonds with embedded derivatives, giving holders exposure to a number of assets, from stock prices to currencies and interest rates. There’s generally no secondary market for those bonds, with prices only coming from the banks that arranged them. Blue Owl’s stock fell as much as 9.4% in New York on Thursday. The notes were already quoted below face value prior to the announcement about the withdrawal restrictions.The depressed prices underscore the pressure on Blue Owl, whose stock has already fallen by about a quarter this year. The plan to limit withdrawals signaled a reversal from a previous arrangement to resume redemptions this quarter. Today's show features: Olivia Fishlow, Bloomberg News Leveraged Finance Reporter, on Blue Owl Drops as Redemption Halt Stirs Private Credit Concern Dylan Field, Figma CEO, on earnings and collaboration with Anthropic Kate Gulliver, Chief Financial Officer of Wayfair, on quarterly earnings and the health of the American consumer Matthew O’Neill and Perri Peltz, co-producers & co-directors of ‘Can’t Look Away: The Case Against Social Media, on Mark Zuckerberg’s Day in Social Media Addiction Trial See omnystudio.com/listener for privacy information.

    34 min
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    Fed Minutes Show Several Officials Nod to Rate-Hike Scenario

    The people, companies and trends shaping the global economy.Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Federal Reserve officials signaled renewed worries over inflation with “several” policymakers suggesting the central bank may need to raise interest rates if inflation stays above their goal.“Several participants indicated that they would have supported a two-sided description of the committee’s future interest-rate decisions, reflecting the possibility that upward adjustments to the target range for the federal funds rate could be appropriate if inflation remains at above-target levels,” a record of the central bank’s January meeting showed.Minutes of the Federal Open Market Committee’s Jan. 27-28 meeting released Wednesday also revealed that a “vast majority of participants judged that downside risks to employment had moderated in recent months while the risk of more persistent inflation remained.”The FOMC voted 10-2 at the meeting to hold the benchmark federal funds rate in a range of 3.5%-3.75%. Governors Christopher Waller and Stephen Miran dissented in favor of a quarter-point reduction. Officials dropped language pointing to increased downside risks to employment that had appeared in the three previous statements.The minutes further signaled that one group of policymakers was embracing a view less open to additional rate cuts, at least in the near term.Today's show features: Michael McKee, Bloomberg TV and Radio International Economics & Policy Correspondent, on the latest FOMC minutes Mike Wilson, Chief US Equity Strategist and Chief Investment Officer for Morgan Stanley, and Bloomberg News Equities Reporter Alexandra Semenova Kamini Lane, President and CEO of Coldwell Banker Realty, on latest US Housing data Bloomberg News Senior Technology Reporter Kurt Wagner on the Social Media Addiction trial See omnystudio.com/listener for privacy information.

    41 min
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    Warner Bros. Reopens Talks as Paramount Signals Higher Bid

    The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Warner Bros Discovery Inc. has agreed to reopen negotiations with rival Hollywood studio Paramount Skydance Corp. after the suitor proposed raising its bid and sweetened other terms of its offer, setting the stage for a renewed showdown with Netflix. Netflix, which Warner Bros. still described as its preferred bidder, has granted the board seven days to discuss Paramount’s most recent proposal, according to a statement Tuesday. The decision came after a Paramount banker told a Warner Bros. board member that Paramount would offer at least $31 a share, or $1 a share higher than its previous offer, if the company agreed to reopen talks. Warner Bros. now wants to see that, and other aspects of Paramount’s new bid, in writing. Warner Bros. said the board still unanimously recommends shareholders vote in favor of its binding agreement to sell its namesake studios and HBO Max streaming business to Netflix for $27.75 a share, or $72 billion. Paramount’s all-cash $77.9 billion bid, which is backed by billionaire Larry Ellison, is for the entirety of Warner Bros., including its cable TV channels such as CNN and TNT that are otherwise planned to be spun off under a deal with Netflix. Warner Bros. has scheduled a shareholder vote on the Netflix deal for March 20. The decision to reengage with Paramount, which confirms Bloomberg’s reporting Sunday, adds another twist in the long drawn-out saga over control of one of Hollywood’s most iconic properties. The fight for Warner Bros., the century-old studio behind films from Casablanca to Batman, and hit TV series like Friends, is one of the biggest media deals in years and has the power to reshape the entertainment industry.Today's show features: Bloomberg News Managing Editor for Media & Entertainment Lucas Shaw and Bloomberg News Senior M&A Reporter Michelle Davis on Warner Bros. Reopens Talks as Paramount Signals Higher Bid Bloomberg News Managing Editor for Global Consumer Tech Mark Gurman on Apple Ramps Up Work on Glasses, Pendant and Camera AirPods (CLEAN UP LINE DROP) Bloomberg News Finance Reporter Max Abelson on The Leon Black Files: Epstein Was Fixer for His Deepest Secrets Drive to the Close with Bill Smead, Founder, Chairman and CIO of Smead Capital Management, on the energy market and his stock pick See omnystudio.com/listener for privacy information.

    33 min

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Listen for reporting from the magazine that helps global leaders stay ahead. Hosts Carol Massar and Tim Stenovec bring you insight on the people, companies and trends shaping today's complex economy.  You can watch and listen to Businessweek LIVE on YouTube, weekdays from 2PM to 5PM ET: http://bit.ly/3vTiACF. 

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