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Senator Ted Cruz has become the most prominent Republican to criticize Federal Communications Commission Chair Brendan Carr, saying President Donald Trump’s top media regulator resorted to “mafioso” behavior to pressure Disney Corp.’s ABC to remove late night host Jimmy Kimmel.
Cruz, the chairman of the Commerce Committee and a frequent defender of the Trump administration, took to his podcast in the wake of Kimmel’s indefinite suspension this week to describe Carr’s actions as “dangerous.”
Carr earlier in the week implied on another podcast that ABC could face serious consequences from the government over Kimmel’s remarks about the shooting of conservative activist Charlie Kirk. Only hours later, ABC pulled Kimmel’s show.
Cruz said he doesn’t believe the government should punish media companies over political disagreements.
Today's show features:

• Bloomberg News Media Reporter Hannah Miller on President Trump’s comments about pulling broadcast licenses from outlets he feels are covering him unfairly
• Annalena Baerbock, President of the United Nations General Assembly, on the UN’s role in a time of heightened geopolitical tensions
• Bloomberg News White House Correspondent Lauren Dezenski on Friday’s phone call between President Donald Trump and China’s Xi Jinping, and the planned meeting between the two leaders
• Walter Todd III, President and Chief Investment Officer of Greenwood Capital Associates, on whether the bull market will continue

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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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Dr. Susan J. Blumenthal has been at the forefront of women’s health for 30 years. Having served under four US presidents, she achieved the rank of Rear Admiral (Ret.) with the US Public Health Service, is the 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 discusses the changing landscape for women’s health, and key research within the field, with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

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President Donald Trump said US broadcast networks should face scrutiny over their licenses if they’re too critical of him, in what amounts to his furthest-reaching threat to media freedoms.
“When you have a network and you have evening shows, and all they do is hit Trump,” Trump told reporters aboard Air Force One on Thursday. “I would think maybe their license should be taken away.”
The president was defending ABC’s decision to suspend Jimmy Kimmel’s show indefinitely over the late-night host’s remarks about the death of conservative activist Charlie Kirk.

Trump’s latest comments came days after he filed a $15 billion lawsuit against the New York Times. The president and his Republican allies have long complained that America’s mainstream media is biased against conservatives. Trump has repeatedly called for CBS, ABC and NBC to get rid of late night comedy hosts who are frequently critical of his administration.

On Wednesday, Walt Disney Co.’s ABC network said it is taking Jimmy Kimmel Live! off the air indefinitely following a backlash from conservatives over the late-night host’s comments about Kirk. Earlier Thursday, Trump backed ABC’s decision to remove Kimmel amid pressure from network affiliates who had said they were pulling the show.

Today's show features:

• Katie Fallow, Deputy Litigation Director for the Knight First Amendment Institute at Columbia University, on Walt Disney’s ABC network taking Jimmy Kimmel Live! off the air indefinitely following the comedian’s comments about Charlie Kirk
• Bloomberg Tech Co-Host Ed Ludlow on Nvidia’s $5 billion investment in Intel
• Chris Miller, Professor of International History at The Fletcher School at Tufts University, on the geopolitical forces shaping the global ecosystem for semiconductors
• Aaron Kennon, CEO of Clear Harbor Asset Management, on the outlook for the market and US monetary policy

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New York City's Brooklyn Navy Yard has evolved from a collection of warehouses into a model for 21st-century manufacturing, where climate-tech, smart city solutions, and advanced fabrication companies grow alongside distilleries, designers, and robotics startups. Now, the mission-driven industrial park is prompting a broader rethink of what manufacturing looks like in big cities, and how to solve some of today’s biggest problems, from climate change to health care access.

Lindsay Greene, President and CEO of the Brooklyn Navy Yard, discusses her vision for the Big Apple's business ecosystem. Lindsay speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

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Federal Reserve officials lowered their benchmark interest rate by a quarter percentage point and penciled in two more reductions this year following months of intense pressure from the White House to slash borrowing costs.

Chair Jerome Powell pointed to growing signs of weakness in the labor market to explain why officials decided it was time to cut rates after holding them steady since December amid concerns over tariff-driven inflation.

The decision comes at an extraordinary moment for the Fed. President Donald Trump, who has demanded drastic rate reductions and sought to exert more control over the US central bank, continued his legal battle this week to remove one official from the Fed board and install his own top economic adviser ahead of the highly anticipated gathering.

Fed Governor Lisa Cook and newly-sworn-in Governor Stephen Miran, who is on a temporary leave from his role as chair of the White House Council of Economic Advisers, both attended the meeting.
The Federal Open Market Committee voted 11-1 on Wednesday to cut the target range for the federal funds rate to 4%-4.25%, after holding rates steady for five straight meetings this year.

Today's show features:

• Danielle DiMartino Booth, CEO and Chief Strategist at QI research, on what to watch for from the FOMC for the rest of 2025
• Ethan Penner, 2026 Candidate for Governor of California and Managing Partner and co-Founder of Mosaic Real Estate Investors, on his political platform as an independent candidate
• Bloomberg "Open Interest" Co-Host Matt Miller on Tesla working on a redesign of its door handles that have drawn safety scrutiny
• Bloomberg News Reporter Zach Mider on Treasury Secretary Scott Bessent’s contradictory mortgage pledges

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Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance. Federal Reserve officials lowered their benchmark interest rate by a quarter percentage point and penciled in two more reductions this year following months of intense pressure from the White House to slash borrowing costs. Chair Jerome Powell pointed to growing signs of weakness in the labor market to explain why officials decided it was time to cut rates after holding them steady since December amid concerns over tariff-driven inflation. “Labor demand has softened, and the recent pace of job creation appears to be running below the break-even rate needed to hold the unemployment rate constant,” Powell told reporters in his post-meeting press conference. He added, “I can no longer say” the labor market is “very solid.” 

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Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz break down the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance

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Language-learning platform on Tuesday announced the launch of its new feature called Babbel Speak, which is designed to help first-time learners go from silence to speech. Introduced to the Babbel app via a new tab on the home screen, the AI-powered, voice-led trainer solves one of the most common barriers in language learning: not knowing how to begin speaking.
Newly appointed Babbel CEO Tim Allen, who took over the role in June, discusses his expectations for the enhanced features as well as competition from the likes of Duolingo, and wearable translation aides from Apple and Alphabet. Tim 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.
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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