Bloomberg Businessweek

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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    Duffy Warns of More Flight Cuts If Government Shutdown Drags On

    Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.US officials warned that the number of flight cancellations may need to double if the government shutdown drags out and air-traffic controller staffing shortages worsen, potentially escalating travel disruptions as the country heads into one of its busiest travel seasons.US Transportation Secretary Sean Duffy said on Fox News Friday that regulators will continue to assess the strain on the aviation system and if the data moves in the wrong direction, the current plan to reduce flights by 10% by the end of next week could grow to 15% or even 20%.With hundreds of services already trimmed and more on the way, air travel has become a flash point in the long-simmering clash between Republicans and Democrats over federal funding as President Donald Trump ramps up pressure to forge a deal.The Republican-led administration has said the reductions are necessary to keep flying safe as staffing shortages strain resources. At least one top congressional Democrat has called for more transparency to ensure the move isn’t politically motivated.Today's show features: Bloomberg Intelligence Senior Aerospace, Defense & Airlines Analyst George Ferguson on the broader impact of the shutdown on the US airline industry Karin Kimbrough, Chief Economist at LinkedIn, on the health of the US labor market Alexis Browne Roberts, COO & Portfolio Manager at Alexis Investment Partners, on whether market valuations are being stretched Rick Smith, CEO of Axon, on this week’s quarterly earnings report and stock swings since the company announced the $625 million acquisition for Carbyne See omnystudio.com/listener for privacy information.

    29 min
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    Schwab Agrees to Buy Private Share Platform for $660 Million

    Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Charles Schwab Corp. agreed to buy Forge Global Holdings Inc., a marketplace for buying and selling shares of private companies, for about $660 million.Under the terms of the transaction, Schwab will acquire all of Forge’s shares for $45 apiece, according a statement Thursday. That’s about 72% more than the closing price on Wednesday.The deal would be the first for Schwab under Chief Executive Officer Rick Wurster, who took the helm of the retail brokerage at the beginning of the year. Acquiring Forge could aid his ambition to give customers more opportunities to gain exposure to unlisted companies, especially as those firms stay private for longer.Westlake, Texas-based Schwab, which is also a bank, was swept up in the regional banking turmoil of 2023, but has since rebounded, reporting third-quarter earnings last month that beat estimates as consumers flocked to investing. Wurster said at the time that new Schwab brokerage accounts topped 1 million for the fourth quarter in a row.Today's show features: Rick Wurster, President & CEO of Charles Schwab on his firm agreeing to buy Forge Global Holdings Kevin Gordon, Head of Macro Research and Strategy, Schwab Center for Financial Research on the challenges of investing amid the US government shutdown Cayla Culver, Head of Risk & Controls, Schwab Advisor Services, on regulatory risks in the financial sector Mike Townsend, Managing Director, Legislative & Regulatory Affairs, Charles Schwab, on evaluating political risks in the financial world on behalf of clients See omnystudio.com/listener for privacy information.

    39 min
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    Stock Bulls Get Wake-Up Call From Wall Street CEOs

    Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF.Risky assets slid, with tech stocks and cryptocurrencies bearing the brunt of the selling, after long-simmering concerns about lofty valuations were fanned anew by a chorus of Wall Street executives who warned investors to brace for a pullback.With the rally confined to fewer and fewer shares as sentiment and technical indicators show signs of overheating, the chiefs of giants from Capital Group to Goldman Sachs Group Inc. and Morgan Stanley noted the possibility of a pullback as a healthy development.Nobody needs to look hard to find warnings that stocks look frothy after a record-breaking surge from April’s nadir pushed valuations to levels associated with exuberance. Optimism has grown heated in recent months, with many traders seeming too busy chasing the upside to worry about an expensive market.The S&P 500 recently notched one of its best six-month stretches since the 1950s fueled by the resilience of Corporate America, the booming outlook for artificial intelligence and hopes the Federal Reserve will keep cutting rates to prop up the economy. Yet those solid gains combined with the recent narrowness of the advance spurred vulnerability worries.Today's show features: Bloomberg Intelligence Global Equity Strategist Gillian Wolff on Tuesday’s tech-lead stock selloff Kathy Wylde, President and CEO of the Partnership for New York City, on the 2025 NYC Mayoral Election Mark Dixon, Founder & CEO of International Workplace Group, on earnings and the commercial real estate market Bloomberg News Cross-Asset Reporter Isabelle Lee on new market entrants reshaping the $13 trillion ETF industry 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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