Bloomberg Businessweek

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

President Donald Trump reinstated the US blockade of Iranian ships transiting the Strait of Hormuz and demanded a 20% reimbursement on all other cargo shipped through the waterway.
Trump’s announcement Monday, in which he asserted the US would become the waterway’s “GUARDIAN,” intensifies an ongoing spat between Washington and Tehran over the status of the crucial shipping passage at the center of the two nations’ revived conflict.

US military forces will resume blockading traffic to and from Iranian ports and coastal areas beginning July 14 at 4 p.m. New York time, Central Command said in a statement.
Oil prices rose more than 9% Monday as traders rushed to price in flows through Hormuz possibly slowing again, while stocks and bonds fell.

On this episode, Carol Massar and Tim Stenovec speak with:
Rockford Weitz Professor of Practice in Maritime Studies at The Fletcher School at Tufts University
Ian King, Bloomberg News US Semiconductor Reporter on SK Hynix, TSMC, chip trade
Roger Crandall, CEO, Mass Mutual
Erik Wasson, Bloomberg News Congressional Reporter on Graham Death Sets Up Succession Drama in South Carolina
See omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

Belle Burden's memoir, Strangers, has spurred women to open the books on their marital finances and take control of their money. Women who have read the book are taking steps such as reading tax returns, checking beneficiaries, and asking questions about their financial situations. The book's influence is showing up in financial advisers' and lawyers' offices, with women seeking to rework or create financial agreements with their partners and protect their assets.

For more, Carol Massar and guest host Isabelle Lee speak with Abha Bhattarai, Bloomberg News Equality Team Leader
See omnystudio.com/listener for privacy information.

Featuring some of our favorite conversations of the week from our daily radio show "Bloomberg Businessweek Daily."
Hosted by Carol Massar and Tim Stenovec

Hear 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 @BW
See omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
SK Hynix Inc. is considering new ways of selling access to its memory chips, including a concept called “memory as a service,” suggesting customers could rent usage from the South Korean company rather than purchasing the actual semiconductors. “We could actually deliver some other business models,” SK Group Chairman Chey Tae-won said in an interview with Bloomberg Television. “We could be memory servicers, memory as a service. In the future, that is another area where we could actually focus.”
Chey, whose company controls SK Hynix, made the comments after the South Korean chipmaker raised $26.5 billion with its American depositary receipt offering, the largest ever US first-time share sale by a foreign company. SK Hynix’s ADRs opened about 14% above their offering price.
Chey didn’t specify exactly how such a business model would work and said new software would be needed to enable it. But tech companies have run “software as a service” businesses and other variations in which clients can pay usage fees to access software or computing power rather than buy it outright. Chey said the goal of such a new service would be to solve the bottleneck of memory capacity.
On this episode, Carol Massar and guest host Isabelle Lee speak with:
Ed Ludlow, Bloomberg Tech Host
Nina Trentmann, Bloomberg News Senior Editor AND Chris Stansbury, CFO, Lumen on Lumen's Data-Center Fiber Deals, Alkira acquisition
Stuart Paul, Bloomberg Economics US & Canada Economist on Fed’s Warsh Names Leadership for Five New Task Forces
Richard O'Brien, GM at Giesen Wine on Giesen’s early entry into the non-alcoholic wine category and the evolution of Giesen 0% into the #1 premium NA wine brand in the U.S.
See omnystudio.com/listener for privacy information.

The US is trying to rebuild its domestic supply chain for rare earth elements, but is facing a challenge in finding talent to run the facilities. Rare earth plants are complicated and expensive to build, and chemical engineers and metallurgists experienced in rare earths have nearly gone extinct in America. The federal government and universities are trying to rebuild the pipeline of skilled workers, but the US produces far fewer mining graduates than China, and the industry faces an economic hurdle in attracting specialists.

For more, Carol and guest host Lisa Mateo speak with Jacob Lorinc, Bloomberg News Mining & Metals Reporter
See omnystudio.com/listener for privacy information.