Axiom Space CEO Tejpaul Bhatia joins to discuss his company's place in the "space economy" and the delay to the company's planned launch with NASA.

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Featuring some of our favorite conversations from Cisco Live 2025 in San Diego.

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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Iran fired hundreds of missiles in retaliation for Israel’s airstrikes that targeted Tehran’s military and nuclear infrastructure, broadening a conflict that threatens to engulf the region and roil global markets.

Israel said it identified missiles launched from the Islamic Republic and reported explosions from interceptions and falling debris from incoming projectiles. An Israeli official said US forces are helping to intercept the Iranian missiles. The Iranian attack, which Tehran said entailed hundreds of ballistic missiles, is the most forceful step yet by Tehran since Israel’s overnight raids killed top Iranian generals and badly damaged key military infrastructure.

While it’s unclear if Israel’s air defenses have been pierced, markets took another hit from the surge in tensions. US stocks fell to new session lows, oil prices extended their gains above 7%, while the US dollar and gold rose.
This episode features:

• Gregg Roman, Executive Director of the Middle East Forum
• Dana Stroul, Senior Fellow and Director of Research at the the Washington Institute for Near East Policy
• Jay Neveloff, Partner and Chair of Real Estate, US at Herbert Smith Freehills Kramer
• Elissa Sangster, Chief Executive Officer of the Forté Foundation

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Bridge Bank, the technology and innovation division of Western Alliance Bank, offers a full spectrum of commercial banking services with specialized expertise focused on life sciences and technology and innovation companies at every stage in their life cycle, from startup to IPO and beyond. The company serves the private equity and venture capital communities by providing banking solutions for portfolio companies and funds, plus banking solutions for small to mid-size businesses in the Bay Area.

Bob Curley, CEO of Bridge Bank and Deputy Chief Banking Officer of Regional Banking at Western Alliance discusses key financing trends among early stage companies and the broader appetite for IPOs.

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More than 200 bodies have been recovered at the crash site of a London-bound Boeing Co. 787 Dreamliner operated by Air India, in a disaster that has turned 2025 into one of the deadliest years in the past decade for civil aviation.
Officials didn’t immediately say how many of the dead were passengers, crew or area residents, but said the toll could rise as emergency workers comb through the wreckage.
There was at least one survivor in the crash, India’s federal home minister Amit Shah told reporters in Ahmedabad. Shah, who met with the survivor and visited the crash site, said the official death toll will be announced after DNA verification.
Flight AI171 was carrying 242 passengers and crew, most of whom were Indian and British nationals, when it crashed shortly after taking off in the western city of Ahmedabad.
Today's show features:

• Bloomberg Intelligence Senior Aerospace, Defense & Airlines Analyst George Ferguson on the Air India crash involving a Boeing jet
• Jayati Bharadwaj, FX & Macro Strategist at TD Securities on US dollar struggles
• Bloomberg News Senior Editor, Equities Americas Eric Weiner
• Christina Padgett, Associate Managing Director, Head of Leveraged Finance Research and Analytics, Moody's Investors

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Mountainside, a collection of addiction treatment centers in the Northeastern United States, has been in operation for nearly three decades, running on the belief that everyone is capable of achieving recovery. The organization has engaged the national not-for-profit Shatterproof to help create a short film entitled "NO MORE SECRETS" to serve as a call to action to help end the stigma associated with addiction.

Jana Wu, Senior Clinician at Mountainside Treatment Center and Dr. Manassa Hany, Director of Addiction Psychology at Northwell detail their work with Shatterproof and discuss the film's upcoming premier in New York City.

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A Boeing Co. 787 Dreamliner aircraft operated by Air India that was bound for London crashed shortly after taking off in Ahmedabad, in what stands to be the worst accident involving the US planemaker’s most advanced widebody airliner. 
Flight AI171 was carrying 242 passengers and crew. Video footage shared on social media showed a giant plume of smoke engulfing the crash site, with no reports of survivors. 
The aircraft entered a slow descent shortly after taking off, with its landing gear still extended before exploding into a huge fireball upon impact. The crash took place in a residential area, which could mean a higher death toll. The twin-engine plane had reached an altitude of 625 feet (190.5 meters) at a speed of 174 knots, according to data from Flightradar24. 
The accident extends a series of serious and fatal incidents in the civil aviation industry this year, including a mid-air collision in Washington early in 2025 between a military helicopter and an aircraft. Air India is in the middle of a strategic turnaround that includes a huge aircraft order as it seeks to tap growing demand from a rising Indian middle class. 
Indian Prime Minister Narendra Modi said the accident is “heartbreaking beyond words,” according to a statement, adding that he’s been in touch with ministers and authorities assisting the salvage operation.
Boeing shares fell 7% in premarket US trading. The 787 is the company’s most advanced in-service aircraft and is popular with airlines because it is more fuel efficient thanks to its use of lightweight composite materials. Boeing said it’s “aware of initial reports and are working to gather more information.”

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President Donald Trump said a trade framework with China has been completed, with Beijing supplying rare earths and magnets “UP FRONT” and the US allowing Chinese students into its colleges and universities.

The US and China will maintain tariffs at their current, lower levels following the two nations’ agreement this week in London, Trump said Wednesday. That number is still higher than before the president took office. Trump said Chinese President Xi Jinping and he must still formally sign off on the agreement. 

“OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME,” Trump posted on social media. “WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT!” 

Yet after months of tense back-and-forth between Washington and Beijing, it remained unclear if the latest round of negotiations brought the two sides closer to an ultimate understanding on trade — or if it just amounted to more talk. 

“Trump is mentioning the current tariff status, in a misleading way, to show he has the upper hand,” said Neo Wang, lead China macro analyst at Evercore ISI. 

Trump’s comments prompted fresh questions about the terms of the pact US and Chinese negotiators reached Tuesday. Markets had a mixed reaction on Wednesday to comments from Trump and his team, with US equity indexes fluctuating throughout the day. 

Today's show features:

• Bloomberg Economic Chief Geoeconomics Analyst Jennifer Welch on progress in in US-China trade negotiations
• Alex Grassino, Global Chief Economist for Manulife Investment Management on investment options in the current economic environment
• Julia Coronado, Founder and President of MacroPolicy Perspectives on the US economic outlook, and expectations for US monetary policy
• Bloomberg Businessweek Editor Brad Stone on the LA riots and his feature story on the United States losing its moral authority across the globe

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Axon is widely known for TASERs and body worn police cameras, and has grown into a nearly $60 billion connected software, services, and hardware platform that some analysts refer to as the ‘Apple of safety.’ The company’s newest artificial intelligence developments, including Axon Assistant, which is built directly into Axon’s latest generation of body-worn cameras, the Axon Body 4, and provides a new voice-enabled AI companion.

Josh Isner, president of Axon, discusses the impact of AI on Axon’s various product offerings and the broader demand for physical security tools.

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

The US and Mexico are closing in on a deal that would remove President Donald Trump’s 50% tariffs on steel imports up to a certain volume, according to people familiar with the matter, a revamp of a similar deal between the trade partners during his first term.

Trump hasn’t been directly involved in the negotiations and would need to sign off on any deal. The talks are being led by Commerce Secretary Howard Lutnick, according to the people, who asked not to be identified as the discussions are private.

The people said the agreement hasn’t been finalized. Under its current terms, it would allow US buyers to import Mexican steel duty-free as long as they kept total shipments below a level based on historical trade volumes, according to the people. The new cap would be higher than what was allowed under a similar deal during Trump’s first term, they said, which was never a fixed figure but designed to “prevent surges.”

The White House didn’t immediately respond to a request for comment. Mexican President Claudia Sheinbaum’s office also didn’t respond to a request for comment.

Today's show features:

• Bloomberg News Economic Statecraft Reporter Joe Deaux
• Bloomberg News National Team Managing Editor Sarah McGregor on rising social unrest in Los Angeles
• Jeetu Patel, President and Chief Product Officer at Cisco
• Fran Katsoudas, Executive Vice President and Chief People, Policy & Purpose Officer at Cisco

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