Bloomberg Businessweek

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US President Donald Trump and Chinese President Xi Jinping on Monday held their first talks since agreeing to a tariff truce last month, discussing trade, Taiwan and Russia’s invasion of Ukraine. 
Trump said the telephone call was “very good” and that the leaders spoke about purchases of soybeans and other farm products as well as curbing shipments of illegal fentanyl. The US president said he agreed to visit Beijing in April, and that he had invited Xi for a state visit next year.

“Our relationship with China is extremely strong!” Trump posted on social media. “There has been significant progress on both sides in keeping our agreements current and accurate. Now we can set our sights on the big picture.”

But the US president’s readout of the call sidestepped one issue — the self-governing island of Taiwan — that was a central focus for Xi. The Chinese leader told Trump that the return of Taiwan to China is a key part of the post-World War II international order, according to a Chinese Foreign Ministry statement. Xi also said the two countries should keep the positive momentum generated during their meeting last month in South Korea and expand cooperation, the statement said.

The leaders also spoke about Russia’s invasion of Ukraine and Xi expressed hope for the two sides to reach a binding peace agreement, the ministry said. The call lasted an hour, White House Press Secretary Karoline Leavitt told reporters.

Today's show features:

• Bloomberg News Senior Editor for Technology & Strategic Industries Michael Shepard on the latest White House headlines as peace plans for Ukraine continue to stall, President Trump speaks with China’s Xi Jinping and the US continues to spar with the EU over tariffs.
• Jennifer Lee, Senior Economist and Managing Director of Economics at BMO Capital Markets, on expectations for this week’s late-arriving PPI and retail sales reports from September
• Bloomberg Intelligence Senior Technology Credit Analyst Robert Schiffman on Oracle investor scrutiny amid a debt spree to finance artificial intelligence investments
• Leo Kelly, CEO of Verdence Capital Advisors, on markets and the Federal Reserve’s path forward

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Frank Sorrentino III is Chairman and CEO of ConnectOne Bank (CNOB), which has banking offices across New Jersey, New York and South Florida. Mr. Sorrentino and other Bergen County civic and business leaders founded the bank to serve local residents and businesses by providing personalized community banking services. Mr. Sorrentino is responsible for the firm's business development plan, while also serving as its community liaison, and sitting on the loan committee.

Sorrentino offers his take on the strength of the community banking sector, as well as the direction of US monetary policy in the near-term. Frank speaks with Carol Massar and Tim Stenovec 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

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President Donald Trump said he wants to see Zohran Mamdani succeed, saying after a highly anticipated sit-down that he’d “feel very comfortable” living in a New York run by the mayor-elect and that he doesn’t anticipate cutting off funding for the country’s most populous city.
“I expect to be helping him, not hurting him,” Trump said of Mamdani in a press conference that repeatedly stressed the two politicians’ political alignment over cost-of-living issues. “I want New York City to be great.”

The meeting was the first between the two leaders who have clashed publicly over their political agendas but are seeking to determine if they can work together. Their talks held high stakes for the governance of the capital of global finance and for their respective political parties ahead of next year’s midterm elections.

During the mayoral election, Trump repeatedly assailed Mamdani — a democratic socialist who won on a progressive platform — as a “communist,” urging voters to reject his candidacy and threating to pull government funding from New York, the president’s hometown. Republicans have also eagerly sought to turn Mamdani into a foil for Democratic policies with voters well beyond the city.

On Friday, the two men appeared cordial and friendly, with Trump shrugging off questions about Mamdani’s prior references to the president as a “despot” as “not that insulting.” They told reporters that they spent the majority of their meeting discussing the cost of rent, groceries and utilities. The president also said he shared some of Mamdani’s ideas on how to address affordability.

Today's show features:

• Bloomberg News White House and National Security Editor Michelle Jamrisko on President Donald Trump’s White House meeting with New York City Mayor-elect Zohran Mamdani
• Sarah Levy, CEO of Betterment, and Bloomberg News Senior Editor, Equities Americas Eric Weiner recap the volatile week in markets and react to President Trump’s meeting with NYC Mayor-elect Zohran Mamdani
• Christina Cassotis, Chief Executive Officer of the Pittsburgh International Airport, on the opening of the airport’s new terminal and preparations for holiday travel amid lingering effects from the government shutdown

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Hugh Herr is a driving force behind the creation of bionic limbs that emulate the function of natural limbs. His revolutionary work is in the emerging field of "Biomechatronics," a technology that marries human physiology with electromechanics. A double amputee himself, he is responsible for breakthrough advances in bionic limbs that provide greater mobility and new hope to those with physical disabilities. He currently serves as a Professor of Media Arts and Sciences at the MIT Media Lab, and co-leads the Yang Center for Bionics at MIT.
Among the key aspects of the work being done at MIT is designing prosthetics that are specifically tailored to women's bodies. Dr. Herr explains how his team is meeting the needs of female patients in an area where the focus has traditionally been on the male anatomy. He speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

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Blue Owl Capital Inc.’s Craig Packer has been something of a mainstay on the New York Stock Exchange in recent years, ringing the opening bell multiple times to toast the private credit giant’s public funds.On Wednesday, minutes after the market opened, his mood was anything but celebratory.
Blue Owl had just announced it was scrapping a planned merger of two of its private credit funds, backtracking on a plan revealed Nov. 5 after scrutiny arose over the potential losses some investors would have to swallow as part of the deal. The parent company’s shares had fallen this week to the lowest level since 2023.
Packer bemoaned “negative articles” about private credit that caused its stock to sink. When it comes to Blue Owl’s business development companies, the firm’s co-founder said on CNBC, “there’s no emergency here.”
The abrupt reversal is a rare egg-on-face moment for Blue Owl, which for years has been held up as the poster child of the boom times in the $1.7 trillion private credit market. Created as a merger between Owl Rock Capital and Dyal Capital Partners in 2021, it has pitched itself as a one-stop financing shop that can compete with banks and the biggest alternative asset managers.
Today's show features:

• Bloomberg News Chief Correspondent for Private Capital Davide Scigliuzzo and Chief Wall Street Correspondent Sridhar Natarajan on the fallout from Blue Owl’s scrapped private-credit fund merger, and whether it portends further credit market pain
• Abby Roach, Senior Portfolio Analyst for the Empiric LT Equity Team with Allspring Global Investments, on quarterly earnings from Walmart and the outlook for the US consumer
• Lane Bess, CEO of Deep Instinct, Chairman of Blaize, and former CEO of Palo Alto Networks, on Nvidia’s impact on the broader market for semiconductors
• Brent Schutte, CIO at Northwestern Mutual Management, on the lack of timely government data contributing to uncertainty about the state of the US. economy

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BioRender is a leading AI-powered platform for scientific communication. It is designed to bridge communication gaps across specialties, roles, and decision-makers that slow scientific discovery. By combining figure creation, presentations, graphing, analysis, and collaborative whiteboarding, it reduces the need for fragmented design and illustration tools, meeting minutes, and personal notepads.
Co-founded out of Y Combinator by Shiz Aoki in 2017, BioRender says it has become the most widely used visual communication platform in science and healthcare for accurate images, claiming to be deployed at every major research university, 90% of the largest pharmaceutical companies globally, as well as 15 Nobel Prize-winning labs. The company also recently signed a collaboration with Anthropic as part of the "Claude for Life Sciences" initiative, and has reached a value of nearly $1 billion. Shiz discusses her company's growth and key partnership with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

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Nvidia CEO Jensen Huang discusses the "off the charts" sales of the Blackwell advanced graphics processing unit (GPU), the company's new Vera Rubin platform and the outlook for demand from China with Bloomberg Tech co-host Ed Ludlow, in a special conversation as heard on Bloomberg TV and Radio.

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Nvidia Corp., the world’s most valuable company, gave a strong revenue forecast for the current period, helping counter concern that a global surge in AI spending is poised to fizzle.
Sales will be about $65 billion in the fiscal fourth quarter, which runs through January, the chipmaker said in a statement Wednesday. Analysts had estimated $62 billion on average, with some predictions ranging as high as $75 billion. 

The outlook signals that demand remains strong for Nvidia’s artificial intelligence accelerators, the pricey and powerful chips used to develop AI models. Nvidia has faced growing fears that the runaway spending on such equipment isn’t sustainable.

Huang has repeatedly downplayed concerns about an AI bubble, saying last month that the company has more than $500 billion of revenue coming over the next few quarters. Owners of large data centers will continue to spend on new gear because AI has begun to pay off, he said.

Today's show features:

• Jay Goldberg, Senior Analyst, Semiconductors & Electronics with Seaport Research Partners, breaks down Nvidia’s latest earnings report
• Bloomberg Tech Co-Host Ed Ludlow reacts to Nvidia’s results and previews his upcoming conversation with CEO Jensen Huang
• Bloomberg News Big Tech Team Leader Sarah Frier on the impact of Nvidia’s results on the broader outlook for AI spending
• Samuel Sahn, Managing Partner, Portfolio Manager at Hazelview Investments, on his firm’s new white paper detailing is how AI is reshaping asset values, operational models, and investment strategies

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Farmgirl Flowers was launched back in 2010 as a one-woman-show when founder and CEO Christina Stembel began working from her dining room table with a vision to change the way people buy flowers online. Her company says its burlap-wrapped bouquets and vase arrangements are "designed to make recipients feel seen, loved, and celebrated."
Now as the company celebrates its 15th anniversary, its leader is doubling down on her commitment to build for growth rather than building to sell. Christina discusses the outlook for her firm, as well as the challenges facing the small business in the current economic environment with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

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