Featuring some of our favorite conversations of the week from our daily radio show "Bloomberg Businessweek Daily."Hosted by Carol Massar and Tim StenovecHear the show live at 2PM ET on WBBR 1130 AM New York, Bloomberg 92.9 FM Boston, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 121, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio.You can also watch Bloomberg Businessweek on YouTube - just search for Bloomberg Global News.Like us at Bloomberg Radio on Facebook and follow us on Twitter @carolmassar @timsteno and @BWSee omnystudio.com/listener for privacy information.
--------
1:15:02
Musk Pledges to Remain Trump Adviser After Washington Exit
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Elon Musk said he will continue to advise President Donald Trump even after stepping away from the Department of Government Efficiency effort he has spearheaded.“I expect to remain a friend and an adviser, and hopefully, if there’s anything the president wants me to do, I’m at the president’s service,” Musk said alongside Trump during a press conference Friday at the White House. “This is not the end of DOGE, but really the beginning.”The comments indicate that the chief executive officer of Tesla Inc. and SpaceX plans to remain in the president’s orbit despite vows to pull back from Washington and prioritize his business empire. As the head of DOGE, Musk’s efforts to slash spending and cut government jobs have drawn pushback from federal workers and Democratic lawmakers as well as a consumer backlash to his business interests.Musk’s divided attention has rattled investors and Wall Street analysts who underestimated the damage being done to Tesla’s brand around the world. As discontent grew over his focus, the billionaire vowed to pull back “significantly” from his government work to devote more time to Tesla as it nears the critical launch of robotaxi service.Today's show features: Bloomberg Businessweek Senior Reporter Max Chafkin on Elon Musk’s departure from his White House role Monica Duffy Toft, Professor of International Politics at Tufts University’s Fletcher School of Law and Diplomacy, on geopolitical conflicts Tyler Rosenlicht, Portfolio Manager & Head of Natural Resource Equities at Cohen and Steers on alternative investment strategies See omnystudio.com/listener for privacy information.
--------
25:57
ICYMI: Costco Defies Tariff Volatility as Other Retailers Stumble
Costco Wholesale Corp. posted better-than-expected earnings in the third quarter, a sign that the nation’s largest club chain is flexing its scale and devoted following to navigate tariffs and other forces of economic turbulence. The retailer said it generated earnings per share of $4.28 for the quarter ended May 11, above what Wall Street analysts were expecting. The metric suggests that Costco is growing its business even as consumers prioritize necessities to save money. Burt Flickinger, Managing Director of Strategic Resource Group, reacts to Costco's earnings other key players in the retail sector, including Walmart, The Gap and Ulta Beauty.See omnystudio.com/listener for privacy information.
--------
11:41
Trump Wins Tariff Reprieve as Trade Agenda Faces Court Rollback
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.A federal appeals court offered President Donald Trump a temporary reprieve from a ruling threatening to throw out the bulk of his sweeping tariff agenda, offering at least some hope to a White House now facing substantial new restrictions on its effort to rewrite the global trading order.The administration celebrated the order from the US Court of Appeals for the Federal Circuit as validating its vow to aggressively challenge a ruling issued Wednesday night by the Court of International Trade blocking sweeping parts of Trump’s tariffs over his use of the International Emergency Economic Powers Act, or IEEPA.“I can assure you, American people, that the Trump tariff agenda is alive, well, healthy, and will be implemented to protect you, to save your jobs and your factories,” trade adviser Peter Navarro told reporters on Thursday.Even as Navarro celebrated the temporary stay, the possibility that the appeals court could ultimately back the original ruling and block Trump’s tariff policy hung heavy over the White House. Separately, a second federal judge declared a number of Trump’s levies enacted using emergency powers unlawful, but limited his decision to the family-owned business that sued and delayed the order from taking effect for 14 days to allow the Justice Department time to appeal.Today's show features: Bloomberg News US Legal Reporter Erik Larson and Jimmy Gurulé, Professor of Law at Notre Dame Law School and Founder and Director of the Exoneration Justice Clinic Elizabeth Economy, Hargrove Senior Fellow and co-chair of the Program on the US, China, and the World at Stanford University’s Hoover Institution Dr. David Kelly, Chief Global Strategist and Head of the Global Market Insights Strategy Team for J.P. Morgan Asset Management See omnystudio.com/listener for privacy information.
--------
29:35
ICYMI: Asia's 'Sell America' Moment Puts $7.5T at Risk
Bloomberg News Chief Correspondent for Global Macro Markets Liz McCormick explains why Asian investors are rethinking their strategy of investing in US assets. The trend has been driven by concerns over the US budget deficit, political polarization, and the impact of Trump's policies on the dollar.The shift away from US assets could lead to a significant unwinding of dollar investments, with potential beneficiaries including emerging markets, Europe, and Japan, and a possible appreciation of Asian currencies.This story is the subject of the latest Bloomberg Big Take. You can read the full story, and more from Bloomberg The Big Take on the Bloomberg Terminal and at Bloomberg.com/bigtake.See omnystudio.com/listener for privacy information.
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.
Ireland