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TikTok’s American operations would be acquired by an investor consortium that includes Oracle Corp., Andreessen Horowitz and private equity firm Silver Lake Management LLC under a framework deal that US President Donald Trump is set to discuss with Chinese President Xi Jinping later this week. 
The tentative agreement, unveiled on Monday by senior US and Chinese officials after two days of talks in Madrid, would create a US-based version of the popular social media app with Oracle, Andreessen and Silver Lake all holding stakes in the new venture, according to people familiar with the matter. 
Under the deal, ByteDance Ltd.’s stake in TikTok would be reduced to below 20% to satisfy a US national security law passed in 2024 requiring the Beijing-based company to divest or face a ban in the American market. If completed, with the blessing of Trump and Xi, the transaction would allow the video-sharing platform to keep operating in the US and remove a sticking point in US-China relations. 
The deal calls for Oracle to continue providing cloud services for TikTok in the US, a business that has become a steady source of revenue for the Austin-based company. Oracle already works with TikTok to host user data in the US and other countries as part of a multi-billion-dollar partnership TikTok has dubbed Project Texas.
Today's show features:

• Bloomberg Businessweek Editor Brad Stone on TikTok's potential buyers and the evolution of social media platforms
• Katy Kaminsky, Chief Research Strategist and Portfolio Manager with AlphaSimplex Group, on the rates market and the Federal Reserve
• Adaire Fox-Martin, President and CEO of Equinix, on investing in American infrastructure
• Alli McCartney, Managing Director, Wealth Management and Private Wealth Advisor with Alignment Partners at UBS

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Adobe Inc. gave a strong quarterly revenue outlook, suggesting that the software maker is seeing a payoff from its investment in AI features. Sales will be about $6.08 billion to $6.13 billion in the period running through November, the company said Thursday in a statement. Analysts, on average, estimated a number at the bottom of that range. The San Jose, California-based company also boosted its annual forecast. Adobe has worked to weave artificial intelligence features, often based on its own generative models, into the company’s industry-standard products like Photoshop. That’s now helping spur growth.
Anil Chakravarthy, the company's President of Digital Experience Business, Worldwide Field Operations, discusses the company’s strong earnings results and its announcement of the acceleration of its AI innovation adoption, including its push into the use of AI Agents. Anil speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

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President Donald Trump said he would speak with Chinese leader Xi Jinping on Friday as US and Chinese officials reached a framework deal on keeping the TikTok app running in the US.
It would be the first direct engagement between Trump and Xi since June.
“I will be speaking to President Xi on Friday. The relationship remains a very strong one!!!,” Trump said in a post on social media Monday. Referring to a meeting of top officials between the two nations in Madrid, Trump also said that the session “has gone VERY WELL!”
US Treasury Secretary Scott Bessent, who led the talks in Spain, told reporters that a framework to keep ByteDance Ltd.’s TikTok app running in the US had been reached. China’s Vice Commerce Minister Li Chenggang also told reporters in Madrid that a framework of “consensus” had been reached on TikTok, while cautioning that Beijing won’t sacrifice principles for a deal.
The terms of the blueprint, and whether they would satisfy the requirements of a US national security law that took effect in January, remain unclear. But a US official emphasized that some arrangement was crucial in order for Trump and Xi to have their first in-person tête-à-tête later this year.
Had there been no deal on TikTok, a Trump-Xi meeting on the sidelines of the Asia Pacific Economic Cooperation gathering in South Korea late next month would have been off the table, the official said. A Trump state visit to China would also have been off the table, the official added, speaking on condition of anonymity to discuss the sensitive issue.
Today's show features:

• Bloomberg News White House Reporter Skylar Woodhouse on President Donald Trump and Xi Jinping’s expected talks Friday, and the potential for a resolution to the TikTok saga
• Yelena Shulyatyeva, Senior US Economist for The Conference Board, on this week’s FOMC policy meeting
• Bloomberg Businessweek Senior Reporter Max Chafkin on Elon Musk’s $1 billion Tesla stock purchase
• Brent Schutte, Chief Investment Officer of Northwestern Mutual Wealth Management on the outlook for US monetary policy

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Since it was established almost 80 years ago, the US Centers for Disease Control and Prevention has been considered the gold standard for public health. For generations, the world has looked to the agency for guidance during dangerous disease outbreaks, with its website frequently bookmarked by physicians across the country looking for science-backed recommendations.

But in the months since Robert F. Kennedy Jr. took over the Department of Health and Human Services, which oversees the CDC, the agency has been thrown into disarray. HHS laid off thousands of CDC employees in April, including people studying chronic disease—Kennedy’s central issue—before bringing back some workers as a result of various lawsuits.

Dr. Richard E. Besser, President and CEO of the Robert Wood Johnson Foundation, offers his view on the potential dangers that come with the overhaul at the CDC. Dr. Besser speaks with Carol Massar, Tim Stenovec and Bloomberg News Health Reporter Jessica Nix on Bloomberg Businessweek Daily.

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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

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

The man accused of killing of conservative activist Charlie Kirk— identified as Tyler Robinson — was arrested on suspicion of murder and weapons offenses.

Robinson is being held in county jail in Utah without bail, according to court documents. He was arrested by law enforcement, after a family member alerted authorities that he had confessed, or at least implied involvement, in the killing, Utah Governor Spencer Cox said Friday.
No formal charges have been filed against Robinson, but authorities in Utah said they intend to file them early next week.

Kirk, 31, executive director of Turning Point USA and a close ally of President Donald Trump, was shot in the neck Sept. 10 as he spoke at an outdoor student event before a crowd of more than 3,000 at Utah Valley University in Orem, about 40 miles (64 kilometers) south of Salt Lake City. He was pronounced dead at a local hospital.

Today's show features:

• Bloomberg News Senior White House Correspondent Josh Wingrove on Charlie Kirk’s role in the US conservative movement and the US urging G-7 sanctions on Russian oil
• Axel Merk, President and Chief Investment Officer of Merk Investments on the gold market boom
• Bloomberg Tech Co-Host Ed Ludlow on takeaways from his interview with Tesla Board Chair Robyn Denholm
• Alan Lancz, Director of Research at LanczGlobal on stock picks and Friday's late-day market fade

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For 40 years, the MIT Media Lab has been an interdisciplinary creative sandbox where innovation thrives at the intersection of art, science, engineering, and design. Grounded in academic excellence, the Lab brings together diverse students, faculty, and researchers collaborating across dozens of groups, centers, initiatives, and programs on transformative projects. Through its unique consortium model, the Lab collaborates with industry, nonprofits, governments, philanthropic organizations, and global communities to develop technologies and experiences that enable people everywhere to flourish.

Rosalind Picard, Sc.D., a Grover M. Hermann Professor of Health Sciences and Technology at the MIT Media Lab, discusses the technological advancements in wearable medical devices and their impact on women’s health. Dr. Picard speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
A search is underway for the killer of Charlie Kirk, a conservative activist and close ally of President Donald Trump who was fatally shot Wednesday at a Utah university.
Kirk, executive director of the Turning Point USA advocacy group, was speaking at an outdoor event before a crowd at Utah Valley University when a single shot was fired from a nearby building, according to local police.
Governor Spencer Cox described it as a “political assassination.”A person of interest was taken into custody and later released, FBI director Kash Patel said in social media posts, later tweeting that the FBI is seeking information, video and photos to help find the killer.
The shooting, the latest in a spate of political violence in the US, drew an outpouring of shock and condemnation from Republicans and Democrats. Kirk, 31, started Turning Point USA more than a decade ago and had turned it into one of the most influential groups helping to rally young voters to conservative causes. He leaves behind a wife and two young children.
Today's show features:

• Congressman Gabe Amo (D-RI), on domestic security, geopolitical unrest, US economic policy and offshore power projects involving his state
• Bloomberg Tech Co-Host Caroline Hyde on the report that Paramount Skydance Corp. is preparing a bid for Warner Bros. Discovery Inc.
• Kristy Akullian, CFA, is the Head of Investment Strategy, Americas, BlackRock, on asset allocation strategies
• Mark F. Cancian, Colonel, USMCR (Ret.) and Senior Adviser for the Defense and Security Department at the Center for Strategic and International Studies on the changing nature of US warfare and foreign military operations

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JLL is a Fortune 200 company and one of the largest consultancies in the world, specializing in real estate and investment management. JLL generates $23.4 billion in annual revenue, with a global workforce of over 112,000 across 80+ countries. The commercial real estate giant has seen office leasing activity worldwide increase both quarterly and year-over-year, with first-half volumes in 2025 reaching their highest level since 2019.

Christian Ulbrich, President and CEO of JLL, discusses the signs of stability and explains why he sees cause for cautious optimism heading toward the end of the year. Christian speaks with Bailey Lipschultz and Katie Greifeld on Bloomberg Businessweek Daily.

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Watch Bloomberg Businessweek Daily every day on YouTube: http://bit.ly/3vTiACF.

Larry Ellison has become the world’s richest person for the first time, ending Elon Musk’s nearly year-long reign in the top spot.

Ellison’s fortune soared $101 billion as of 10:10 a.m. in New York after Oracle Corp. reported quarterly results that surpassed expectations and said there’s more growth to come.
The increase lifted his total fortune to $393 billion, ahead of Musk who sits at $385 billion, according to the Bloomberg Billionaires Index. It’s the biggest one-day increase ever recorded by the index.

Musk became the world’s richest person for the first time in 2021 before losing the title to Amazon.com Inc.’s Jeff Bezos and LVMH’s Bernard Arnault. He reclaimed it last year and had held it for just over 300 days.

Ellison, 81, who co-founded Oracle and is now chairman and chief technology officer, has the bulk of his net worth tied up in the database software company.

Oracle’s shares, which had already gained 45% this year through Tuesday’s close, soared 41% Wednesday after the company posted a major increase in bookings and gave an aggressive outlook for its cloud infrastructure business. It’s the company’s largest single-day surge ever.

Today's show features:

• Bloomberg News Wealth Americas Team Leader Kristine Owram on Larry Ellison surpassing Elon Musk as the world’s richest man
• Bloomberg TV and Radio International Economics & Policy Correspondent Mike McKee on the US Department of Labor’s Office of Inspector General initiating a review at the Bureau of Labor Statistics and the Senate Banking Committee backing Stephen Miran for a Federal Reserve Governor post
• Elizabeth Renter, Senior Economist at NerdWallet, on the economic outlook and the health of the US consumer
• Fred Thiel, Chairman and CEO of MARA Holdings on the regulatory outlook for Bitcoin and the company’s recent progress with Bitcoin mining

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