Bloomberg Businessweek

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

A dangerous heat wave that is trapped over New York City is also trapping people in the city.

The heat dome that’s settled over the East Coast has New York City set for its hottest day since 2012, according to the National Weather Service. Temperatures in Central Park are expected to spike to 100F (38C) Thursday afternoon, but swampy, oppressive humidity will make it feel more like 110F. In parts of the city with less shade and more pavement, temperatures are likely to push even higher.

Power prices on the largest US grid surged as the eastern part of the country was struck by what is forecast to be the hottest day of the year so far.
Today's episode features:

• Lauren Rosenthal, Bloomberg News Weather Reporter
• Robin Wenzel, Head of Wells Fargo Agri-Food Institute on Wells Agri-Food BBQ report: 'Stay Close, Grill Big: Why Backyard BBQs Are Taking Over Summer 2026'
• David 'Dave' Hoffman, CEO, Sky Zone
• Craig Trudell, Bloomberg News Managing Editor of Global Business Americas on Tesla, Rivian, & Ford deliveries
• Randall Williams, Bloomberg News Senior Reporter and Vanessa Perdomo-Maglione, Bloomberg News Sports Business Reporter, Co-Hosts of the ‘Business of Sports’ Podcast on World Cup latest

Hosted by Tim Stenovec and guest host Norah Mulinda.

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

 
Chris Beam, Bloomberg Businessweek senior writer discusses his latest piece on how some of the biggest users and supporters of prediction markets are having mixed feelings about its mainstream growth and whether the wide adaptation could dilute its potential to establish collective knowledge. He speaks with Carol Massar and Tim Stenovec.

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

Bending Spoons shares surged 40% above their initial public offering price after the company and some of its backers raised $1.68 billion. The trading gives Bending Spoons a market value of $25.7 billion. That compares with a valuation of about $14.5 billion in 2025, after a funding round comprised of $270 million in primary capital and $440 million in secondary capital and a $2.8 billion debt package, according to PitchBook data.  

Bending Spoons was formed in 2013 and derived its name from a scene in the 1990s science-fiction film The Matrix. The company brings a private equity-style playbook to distressed software apps, buying largely subscription-based services, trimming their staff and handing operations to coders

On today's show, Carol and Tim speak with:

Luca Ferrari, Bending Spoons CEO AND Bailey Lipschultz, Bloomberg News IPO Reporter

Todd Gillespie, Bloomberg News Banking Reporter on today’s Big Take: Citi CEO Jane Fraser Brings Troubled Bank Into Trump’s Favor

Lipi Sternheim, CEO, REalloys on a US Army processing facilities partnership

Justin Bibb, Cleveland, OH Mayor (D) on CityLab story: Cleveland Plots an Industrial Comeback on East Side 'Midline'

Jo Ann Corkran, Co-CEO & Managing Partner, Golden Seeds on $200 Million milestone

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

Brett Pulley, Bloomberg News Atlanta Bureau Chief discusses his latest reporting featured in the upcoming Bloomberg Businessweek magazine on how people in southern states are feeling the squeeze as the cost of living rises and wages struggle to keep up. He speaks to hosts Carol Massar and Tim Stenovec.

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

Chip stocks posted their best quarter ever, extending an extraordinary start to the year driven by insatiable demand for artificial intelligence equipment. But after recent jitters sent the stocks tumbling, investors are wondering how much further the rally can go. 

The Philadelphia Stock Exchange Semiconductor Index jumped 3.9% on Tuesday to bring its second-quarter gain to 88%, its best quarter ever. It soared 101% in the first half, putting it on track for its best year in its history. In contrast, the tech-heavy Nasdaq 100 Index climbed 28% in the second quarter, while the S&P 500 Index rose 15%. It was both of their best quarters since 2020, but the performances were dwarfed by the surge in chip stocks. 

On this episode, Carol and Tim speak with:

• Ian King, Bloomberg News US Semiconductor Reporter
• Dan Suzuki, Global Investment Strategist, iCapital
• Georgia Hall, Bloomberg News FX and Rates Reporter AND Francesca Maglione, Bloomberg News California Reporter on Big Take: The 250-Year-Old American Dream Is Fading for Dreamers Overseas
• Yogesh Gupta, CEO at Progress Software

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

Steven Hammer was once a literary star. Now, his career is floundering, his marriage to a high-powered woman is crumbling, and the only bright spot in his life is Astrid, the Norwegian au pair who cares for their children—and reveres his neglected novels. But what begins as a secret infatuation soon spirals into a scandal that makes them both infamous. With inexorable momentum and sly, lucid prose, Teddy Wayne’s The Au Pair is a sleek literary thriller about desire, deception, and the unraveling of a man as he grapples with his fading relevance—when the lies others spin pale beside the fictions we tell ourselves

For more, Carol Massar Tim Stenovec speak with Teddy Wayne, Author of 'The Au Pair'

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

Comcast Corp. plans to spin off NBCUniversal and Sky, unwinding a strategy that began more than a decade ago after struggling to demonstrate that a cable and media conglomerate would benefit shareholders.

A new company, NBCUniversal, will hold the theme parks division, Universal film and television studios, the NBC and Telemundo broadcast networks, Peacock streaming service, and Bravo cable channel as well as the European media business, Sky. Comcast will hold the company’s original cable-TV, broadband and wireless businesses.

The deal, which came as a surprise to many investors, nevertheless reflects a trend as the media industry grapples with declining cable viewership.
Separating the two businesses is “the only way to unlock value,” Vikash Harlalka, an analyst at New Street Research, said. The move is a precursor for allowing Comcast to focus on mergers and acquisitions in both the cable and media sectors once the separation is complete, Harlalka said.

On this episode, Carol Massar Tim Stenovec speak with:

• Chris Palmeri, Bloomberg News Senior Editor and Entertainment Team Leader
• James Seyffart, Bloomberg Intelligence Senior Research Analyst on SpaceX ETF Frenzy Leads to Fund’s Trading Halt After 89% Surge / Leverage That Fueled US Stock Rally Becomes a Growing Concern
• Cynthia Chen, CEO, Kikoff on state of American consumer, credit card debt and Kikoff's credit building platform
• Former. Gov. Eric Holcomb (R-IN) and Co-Founder of RAISE US

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The US Supreme Court ruled that Federal Reserve Governor Lisa Cook can stay in her job for now, reinforcing the central bank’s independence from the White House and dealing a setback to President Donald Trump.
In a separate ruling, the court expanded the president’s power to fire top government officials at other federal agencies.
Voting 5-4, the high court said Cook can remain at the Fed while she fights Trump’s bid to oust her over unproven mortgage fraud allegations. Chief Justice John Roberts and Justice Brett Kavanaugh joined the three liberals in the majority.

Bloomberg's Paul Sweeney and Scarlet Fu got reaction from:

• June Grasso, Bloomberg Law Host
• Elliot Stein, Bloomberg Intelligence litigation analyst 
• Tyler Kendall, Bloomberg Washington correspondent 
• Gautam Mukunda, Lecturer at Yale School of Management and Bloomberg Opinion contributor

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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 Daily 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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Margaret Nyambumo, Founder and CEO at Kahawa 1893 discusses her coffee company's mission in a special edition of Businessweek Daily from the Uncharted Summit.

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