Bloomberg Businessweek

Lisa Wright is the Founder and CEO of Landings, a pioneering company developing a network of rural vertiports that expand access to advanced air mobility across the US. With over 20 years of experience in architecture, design, and operations, Lisa brings a unique perspective at the intersection of infrastructure, technology, and community development. Since founding Landings, she has led the company in building partnerships with municipalities, regional economic development agencies, landowners, and equipment manufacturers to catalyze investment in rural communities.

Lisa lays out her vision for building this cutting-edge aviation infrastructure, which she says can also create hubs for clean energy, workforce training, and economic revitalization. Lisa speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

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Wall Street’s bets that the largest shutdown in US history is soon coming to an end drove a rebound in stocks, spurring optimism that access to official economic data will shed light on the Federal Reserve outlook.

The S&P 500 erased losses, with about 345 shares gaining. The Dow Jones Industrial Average climbed 1.2%. FedEx Corp. — a barometer of the economy — jumped over 5% as it expects profit this quarter to improve from a year ago. Nvidia Corp. sank 3% as SoftBank Group Corp. sold its entire stake in the chipmaker for $5.83 billion to help bankroll artificial-intelligence investments.

With the bond market closed for Veterans Day, Treasury futures rose after ADP Research data suggested the labor market slowed in the second half of last month. Traders have relied on private numbers as the government closure has delayed the release of official statistics.

A record-setting US shutdown is on a path to end as soon as Wednesday after the Senate passed a temporary funding measure. Reopening the government now depends on the House, which plans to return to Washington to consider the spending package. It would keep most of the government open through Jan. 30 and some agencies through Sept. 30. If approved, the bill goes to President Donald Trump, who has already endorsed the legislation.

Today's show features:

• Eddie Ghabour, Co-Founder and CEO of Key Advisors Wealth Management, on the post-government-shutdown market landscape
• Neil Dutta, Head of Economics at Renaissance Macro Research, on the US economic and monetary policy outlook
• Bloomberg Businessweek National Correspondent Josh Green on the political blowback as Congress moves closer to officially ending the US government shutdown
• Bloomberg Intelligence Senior Media Analyst Geetha Ranganathan on Paramount Skydance shares jumping after the company raised its target for job cuts and cost-saving measures

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Warren Buffett, the billionaire investor who turned an aging textile mill into a more than $1 trillion conglomerate, said he’s “going quiet,” marking the end of an era for one of the business world’s most-watched investing gurus.

In a letter disclosing that he’s donating more than $1.3 billion to four family foundations, the 95-year-old investor, who is stepping down from his role of chief executive officer at the end of the year, said he’s going to stop writing Berkshire Hathaway Inc.’s annual letters and speaking at its meetings
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And while he said he generally feels “good,” he is planning to “step up the pace” of his charitable giving to his kids’ foundations while he’s still alive.

“Though I move slowly and read with increasing difficulty, I am at the office five days a week where I work with wonderful people,” Buffett said in the letter released Monday. “Occasionally, I get a useful idea or am approached with an offer we might not otherwise have received. Because of Berkshire’s size and because of market levels, ideas are few – but not zero.”

Buffett is expected to hand his role of CEO to his successor Greg Abel at year-end. Letters such as the one released Monday, along with the ones that accompany the firm’s annual results, have become a must-read for his fans, who seek out the pearls of wisdom, investment advice and witticisms that drew a legion of fans to the billionaire investor.

Today's show features:

• Bloomberg News Senior Editor, Equities Americas Eric Weiner on Warren Buffett's final weeks at the helm of Berkshire Hathaway
• Henrietta Treyz, Co-Founder and Director of Economic Policy at Veda Partners, on what a potential end to the shutdown could mean for SNAP recipients and the Affordable Care Act
• Alli McCartney, Managing Director of Wealth Management with Alignment Partners at UBS, on whether the equities market can sustain recent gains
• Swamy Kotagiri, Chief Executive Officer of Magna International, on recent earnings, the global automotive market and the impact of tariffs

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In mid-October, The Johns Hopkins Bloomberg School of Public Health hosted a media briefing to examine the health implications of seed oils and ultra-processed foods, topics that are generating increased public attention. 

Seed oils, such as canola, soybean, and sunflower, are a major source of essential fatty acids in diets worldwide and are often the subject of conflicting information. Ultra-processed foods account for more than half of daily calories consumed in the US but have been linked to obesity, diabetes, cardiovascular disease, and other conditions.

Dr. Julia Wolfson, Associate Professor with the International Health Department at the Johns Hopkins Bloomberg School of Public Health, discusses her research related to the effects of these foods on our bodies, and whether government policy under the Trump administration is a net-positive or negative for public health. Dr. Wolfson speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

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Ryan J. Salva is a veteran product leader at Google who has been at the forefront of building AI tools for developers. He is responsible for Google's products such as the recently launched Gemini CLI, an open source AI agent for developers, as well as Gemini Code Assist, the tech giant's AI coding assistant, both of which are changing how software is developed and deployed by individuals and organizations.

 
Ryan details the evolution of Google Gemini and its coding tools for developers with Carol Massar, Tim Stenovec and Mandeep Singh 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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US officials warned that the number of flight cancellations may need to double if the government shutdown drags out and air-traffic controller staffing shortages worsen, potentially escalating travel disruptions as the country heads into one of its busiest travel seasons.
US Transportation Secretary Sean Duffy said on Fox News Friday that regulators will continue to assess the strain on the aviation system and if the data moves in the wrong direction, the current plan to reduce flights by 10% by the end of next week could grow to 15% or even 20%.
With hundreds of services already trimmed and more on the way, air travel has become a flash point in the long-simmering clash between Republicans and Democrats over federal funding as President Donald Trump ramps up pressure to forge a deal.
The Republican-led administration has said the reductions are necessary to keep flying safe as staffing shortages strain resources. At least one top congressional Democrat has called for more transparency to ensure the move isn’t politically motivated.
Today's show features:

• Bloomberg Intelligence Senior Aerospace, Defense & Airlines Analyst George Ferguson on the broader impact of the shutdown on the US airline industry
• Karin Kimbrough, Chief Economist at LinkedIn, on the health of the US labor market
• Alexis Browne Roberts, COO & Portfolio Manager at Alexis Investment Partners, on whether market valuations are being stretched
• Rick Smith, CEO of Axon, on this week’s quarterly earnings report and stock swings since the company announced the $625 million acquisition for Carbyne

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Senate Democrats are again urging Republicans to negotiate extending enhanced Obamacare premium tax credits, buoyed by sweeping gubernatorial elections in Virginia, New Jersey and a mayor’s race in New York City. Following this week's elections, Sen. Bernie Sanders (I-VT) said lawmakers’ government shutdown fight should continue unless President Donald Trump and House Speaker Mike Johnson (R-LA) commit to extending the ACA credits.
Dr. Susan J. Blumenthal has served under four US presidents, having achieved the rank of Rear Admiral (Ret.) with the US Public Health Service, is a former Assistant Surgeon General, and was the nation's first-ever Deputy Assistant Secretary for Women's Health. She currently works as a visiting professor with the MIT Media Lab. Dr. Blumenthal examines the impact of the ongoing government shutdown on the nation's millions of health-benefit recipients, and also details some of her advanced research on key issues affecting women's health -- particularly breast cancer. Dr. Blumenthal speaks with Norah Mulinda and Bailey Lipschultz on Bloomberg Businessweek Daily.

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Charles Schwab Corp. agreed to buy Forge Global Holdings Inc., a marketplace for buying and selling shares of private companies, for about $660 million.
Under the terms of the transaction, Schwab will acquire all of Forge’s shares for $45 apiece, according a statement Thursday. That’s about 72% more than the closing price on Wednesday.
The deal would be the first for Schwab under Chief Executive Officer Rick Wurster, who took the helm of the retail brokerage at the beginning of the year. Acquiring Forge could aid his ambition to give customers more opportunities to gain exposure to unlisted companies, especially as those firms stay private for longer.
Westlake, Texas-based Schwab, which is also a bank, was swept up in the regional banking turmoil of 2023, but has since rebounded, reporting third-quarter earnings last month that beat estimates as consumers flocked to investing. Wurster said at the time that new Schwab brokerage accounts topped 1 million for the fourth quarter in a row.
Today's show features:

• Rick Wurster, President & CEO of Charles Schwab on his firm agreeing to buy Forge Global Holdings
• Kevin Gordon, Head of Macro Research and Strategy, Schwab Center for Financial Research on the challenges of investing amid the US government shutdown
• Cayla Culver, Head of Risk & Controls, Schwab Advisor Services, on regulatory risks in the financial sector
• Mike Townsend, Managing Director, Legislative & Regulatory Affairs, Charles Schwab, on evaluating political risks in the financial world on behalf of clients

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Teva Pharmaceuticals Inc. surged after sales of branded medications topped expectations, showing that its strategy to expand into that drug category is working. Total revenue last quarter of $4.48 billion beat consensus, driven by a 33% gain for a group of drugs that includes Austedo. Meanwhile, sales of generics — Teva’s core business — missed estimates. The Tel Aviv, Israel-based company has pushed into branded medications that have been drivers of the company’s growth in recent years. The generics business continues to make up the majority of Teva’s revenue.
Richard Francis, Teva's President and CEO, discusses his company's growth strategy and its move to renew the sale process for its active ingredients business after talks with an unnamed buyer fell through. Richard speaks with Emily Graffeo and Katie Greifeld on Bloomberg Businessweek Daily.

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