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.

  1. 1天前

    Trump Says He’ll Fire BLS Head After Weak Jobs Data

    Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump said he was directing officials to fire Erika McEntarfer, the commissioner of the Bureau of Labor Statistics, hours after a report showed US job growth cooled sharply over the last three months.“I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY,” Trump said on social media Friday, accusing her, without evidence, of politicizing the jobs report. “She will be replaced with someone much more competent and qualified. Important numbers like this must be fair and accurate, they can’t be manipulated for political purposes.”Friday’s jobs report from the BLS showed payrolls increased 73,000 in July after the prior two months were revised down by nearly 260,000. In the past three months, employment growth has averaged a paltry 35,000 — the worst since the pandemic.BLS didn’t immediately respond to a request seeking comment. Former President Joe Biden nominated McEntarfer to head the statistical agency in 2023. She was confirmed in January of 2024, an election year, by a vote of 86-8, with then-Senator JD Vance voting “yea.”Today's show features: Bloomberg News Economic Editor Molly Smith and Bloomberg News Senior Editor, Equities Americas Eric Weiner on the week in markets, and President Donald Trump's move to fire the head of the Bureau of Labor Statistics Bloomberg Intelligence Senior Defense Analyst Wayne Sanders on heightened tensions between the United States and Russia Laura Martin, Senior Analyst at Needham & Company on this week's earnings from Apple, Meta and Amazon Dr. Ellen Wald, President of Transversal Consulting and Senior Fellow at the Atlantic Council, on earnings from Exxon and Chevron, and the global energy trade See omnystudio.com/listener for privacy information.

    40 分钟
  2. 2天前

    Apple Posts Massive Sales Beat While Amazon Underwhelms

    Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Apple Inc. reported third-quarter revenue that handily topped analysts’ estimates, boosted by surprisingly strong sales of the iPhone and products in China.Revenue rose 9.6% to $94 billion in the period, which ended June 28, the company said in a statement Thursday. Analysts estimated $89.3 billion on average, according to data compiled by Bloomberg. Apple had projected a $900 million headwind from tariffs during the period, saying that revenue would grow in the low- to mid-single digits.Though US tariffs are still expected to weigh on results in the long run, they likely provided a boon to Apple in the latest period — with consumers rushing to stores to get out ahead of expected price increases. The company also has been staging a comeback in China, a market where local phone brands have made inroads with consumers. Services were another bright spot for Apple last quarter, topping Wall Street projections.Meanwhile Amazon.com Inc. projected operating income in the current quarter that fell short of analysts’ estimates, worrying investors that the tech giant is spending too much to keep up with competitors in the race for artificial intelligence.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 reported strong earnings earlier this week showing they are benefiting from the AI boom.Today's show features: Bloomberg Intelligence Senior Technology Analyst Anurag Rana and Senior Analyst for E-commerce & Athleisure Poonam Goyal on Amazon’s earnings Ivan Feinseth, Chief Investment Officer and Research Director at Tigress Financial Partners, with reaction and analysis of Apple and Amazon earnings Jayati Bharadwaj, Director of FX Strategy for TD Securities, on the recent US dollar rally Bloomberg News US Legal Reporter Erik Larson on US Justice Department lawyers defending President Donald Trump's authority to impose global tariffs at a hearing in Washington See omnystudio.com/listener for privacy information.

    35 分钟
  3. 3天前

    Fed Holds Interest Rates Before Microsoft and Meta Report Earnings

    Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Federal Reserve Chair Jerome Powell said interest rates are in the right place to manage continued uncertainty around tariffs and inflation, tempering expectations for a rate cut in September.“There are many, many uncertainties left to resolve,” Powell told reporters Wednesday following the central bank’s decision to once again keep rates unchanged. “It doesn’t feel like we are very close to the end of that process.”The Federal Open Market Committee voted 9-2 to hold its benchmark federal funds rate in a range of 4.25%-4.5%, as they have at each of their meetings this year. Governors Christopher Waller and Michelle Bowman voted against the decision in favor of a quarter-point cut.Meanwhile Meta Platforms Inc. topped projections for second-quarter sales and gave a stronger-than-expected forecast for the current period, a sign that the social media company’s advertising business is still growing quickly enough to support aggressive spending on artificial intelligence. The social media giant, which owns Instagram and Facebook, reported second-quarter revenue of $47.5 billion.As for Microsoft Corp., it was another better-than-expected quarter for growth in its cloud business and the company said spending on AI infrastructure hit a record. The closely watched Azure cloud-computing unit posted a 39% rise in sales during Microsoft’s fiscal fourth quarter, the company said in a statement on Wednesday. Analysts projected 34% revenue growth.Today's show features: Karen Veraa-Perry, Head of US iShares Fixed Income Strategy at BlackRock on the Federal Reserve’s rate decision Dan Ives, Global Head of Technology Research at Wedbush Securities, and Bloomberg Intelligence Global Head of Technology Research Mandeep Singh on Meta earnings Greg Halter, Director of Research at Carnegie Investment Counsel, and Bloomberg Intelligence Senior Technology Analyst Anurag Rana on Microsoft earnings See omnystudio.com/listener for privacy information.

    31 分钟
  4. 3天前

    Instant Reaction: Microsoft & Meta Soar After Strong Earnings

    Microsoft reported better-than-expected growth in its cloud business and said spending on AI infrastructure hit a record. The closely watched Azure cloud-computing unit posted a 39% rise in sales during Microsoft’s fiscal fourth quarter, the company said in a statement on Wednesday. Analysts projected 34% revenue growth. The shares rose about 7% in extended trading after closing at $513.24 in New York. The company’s stock was up about 22% this year through the Wednesday close.Meta also reported results that sent shares higher after the close. Meta topped projections for second-quarter sales and gave a stronger-than-expected forecast for the current period, a sign that the social media company’s advertising business is still growing quickly enough to support aggressive spending on artificial intelligence. Shares jumped as much as 10% in late trading. Third-quarter sales will be $47.5 billion to $50.5 billion, Meta said in a statement Wednesday, with the midpoint of that range exceeding the average analyst estimate of $46.2 billion, according to data compiled by Bloomberg. The social media giant, which owns Instagram and Facebook, reported second-quarter revenue of $47.5 billion. Meta stock was up 18.7% so far this year before Wednesday’s report.For instant reaction and analysis to earnings for both big tech companies, hosts Carol Massar and Tim Stenovec speak with: Dan Ives, Global Head of Technology Research at Wedbush Securities Bloomberg Intelligence Senior Technology Analyst Anurag Rana Greg Halter, Director of Research at Carnegie Investment Counsel See omnystudio.com/listener for privacy information.

    20 分钟

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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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