Bloomberg Businessweek

MercadoLibre is experimenting with small pilot programs to develop ventures in industries like pharma and food delivery. This development emerges after Bloomberg first reported that Amazon had acquired a stake in Colombian delivery platform Rappi through a $25 million convertible note. 

Martin de los Santos, Chief Financial Officer of MercadoLibre, discusses why pharmaceuticals have a chance to improve their low e-commerce penetration, as well as why food products create new revenue opportunities for the Latin American powerhouse due to the high frequency of purchases. Martin speaks with Katie Greifeld and Matt Miller on Bloomberg Businessweek Daily.

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Apple Inc. introduced its iPhone 17 lineup, adding an all-new skinnier Air design and improving the devices’ durability and camera technology.

The company unveiled the new smartphones at an event with the tagline “awe dropping” from its headquarters in Cupertino, California. Apple also debuted new smartwatches and an updated version of its high-end AirPods. 

The technology giant is looking to keep customers hooked on the smartphone — its biggest moneymaker — after signs of slowing demand in recent years. Apple has been contending with a saturated market for phones as well as fiercer competition in places like China.

“IPhone Air is a total game changer,” Chief Executive Officer Tim Cook said during the presentation. 

Apple kept the starting price of its standard iPhone the same at $799. Though the Pro model will go up by $100, it also has twice as much storage. And the new Air version will cost $999, putting it in the middle of its price range.  The skinnier model has ceramic shields on both sides of the phone, helping make the device more durable. 

The model is 5.6 millimeters wide and “exceptionally light,” the company said. Though Apple rival Samsung Electronics Co. introduced its own skinny model earlier this year — the Galaxy S25 Edge — that device is 5.8 millimeters.

Today's show features:
- Dan Ives, Global Head of Technology Research at Wedbush Securities, on Apple’s newest iPhone launch and the tech sector broadly
- Jennifer Grancio, Global Head of ETFs at TCW on the market outlook and the demand for ETFs
- Douglas Boneparth, President of Bone Fide Wealth, and Heather Boneparth, Director of Business and Legal Affairs Bone Fide Wealth on personal financial management and investing
- Mark Gatto, Co-Founder, Co-President & Co-CEO of CION Investments, on the growing demand for private credit and alternative assets

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HealthEquity and its subsidiaries administer HSAs and other consumer-directed benefits for more than 17 million accounts in partnership with employers, benefits advisors, and health and retirement plan providers who share our mission to save and improve lives by empowering healthcare consumers.

Scott Cutler, the company's CEO, discusses the challenges and successes of his first eight months on the job, and how his firm uses technology and data to help deal with healthcare affordability issues in America. Scott speaks with Tim Stenovec and Carol Massar on Bloomberg Businessweek Daily.

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US stocks have been on a tear, setting more than 20 all-time highs this year, but the Federal Reserve’s next move threatens to curb investors’ zeal, JPMorgan Chase & Co.’s trading desk warns.

“This current bull market feels unstoppable with new support forming as former tent poles weaken,” according to Andrew Tyler, the bank’s head of global market intelligence. If the Fed follows through on a widely expected interest-rate cut at its Sept. 17 meeting, that “could turn into a ‘Sell the News’ event as investors pullback.”

JPMorgan’s trading desk maintained their lower conviction tactical bullish call while pointing to a number of risk factors including inflation, employment and the trade war in a note Monday. They also noted retail investors typically scale back their participation in September, while less corporates have been buying back their own shares.

The S&P 500 Index has climbed more than 30% from its April lows reached when President Donald Trump made his opening salvos in the global trade war. The stock market has so far proved resilient. But with the impact of tariffs just being felt and a recent weak jobs readout, investors are on edge ahead of an expected rate cut in typically the worst month of the year for the US equity market.

Today's show features:
Lauren Goodwin, Chief Market Strategist at New York Life Investments, on the US economic outlook and her expectations for US monetary policy
Jaime Magyera, Head of US Wealth Advisory and Head of Retirement at BlackRock
Priya Misra, Core Plus Bond ETF Portfolio Manager at JPMorgan, on the slowing US labor market and the Federal Reserve’s next move 
Matt Middleton, Founder and CEO of Future Proof, on the 2025 Future Proof summit

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The August jobs report showed the labor market is worsening for younger Americans. The youth unemployment rate jumped to 10.5% in August, the highest since late 2016 save for the pandemic period. The rate has risen by 150 basis points since the start of the year in a possible sign of things to come. Young workers with limited experience tend to take lower-wage jobs and difficulty finding that kind of employment may indicate more stress in the overall labor market.

Dan Shapero, Chief Operating Officer of LinkedIn, examines the key labor force trends playing out on the networking platform. Dan speaks with Tim Stenovec and Carol Massar 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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Tesla Inc. proposed a new compensation agreement for Chief Executive Officer Elon Musk potentially worth around $1 trillion, a massive package without precedent in corporate America.

The long-awaited proposal, designed to incentivize Musk to lead Tesla for years to come, sets a series of ambitious benchmarks he must meet to earn the full payout, including expanding Tesla’s nascent robotaxi business and growing the company’s market value to at least $8.5 trillion from about $1.1 trillion today. The plan spans 10 years.
The additional shares Musk could receive would push his holdings in the electric-vehicle maker to at least 25%, according to the terms detailed in Tesla’s proxy filing Friday. Musk has publicly stated he wants a stake of that size.

The plan dangles a financial windfall and expanded control of the company to Musk, already the world’s richest person, after his 2018 package valued in excess of $50 billion was struck down by a Delaware court. While Tesla appeals that decision, the board is seeking other ways to compensate its CEO, including with an interim stock award in early August valued at about $30 billion.

Today's show features:

• Bloomberg Technology Co-Host Ed Ludlow on Thursday’s White House tech summit and Tesla’s new proposal for $1 trillion Elon Musk pay package
• Bloomberg Intelligence Chief US Interest Rate Strategist Ira Jersey on Treasury market moves and the latest news from the Federal Reserve and Constance Hunter, Chief Economist at the EIU (Economist Intelligence Unit), on the August nonfarm payrolls report
• Dr. Misty Heggeness, Associate Professor at the University of Kansas and former principal economist at the US Census Bureau, on women in the workforce
• Louis "Louie" Navellier, Chairman, Founder and CIO of Navellier & Associates, on markets and the economy

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Bloomberg Businessweek Daily is live from Bloomberg Power Players New York. The event brings together some of the most influential voices from the sports business universe to help identify the next wave of disruption that could hit this multi-trillion dollar global industry.

Gary Bettman, Commissioner of the National Hockey League, and Ted Leonsis, Founder, Chairman, Managing Partner & CEO of Monumental Sports & Entertainment, join to discuss the remaking of the fan experience in the streaming era. They are followed by Mike Harrity, Haldeman Family Director of Athletics & Recreation at Dartmouth College and Bloomberg News Higher Education Finance Reporter Janet Lorin, with a pulse-check on the state of college athletics in the name, image and likeness (NIL) era. They speak with Tim Stenovec and Carol Massar on Bloomberg Businessweek Daily.

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

President Donald Trump’s pick to fill a vacant seat on the Federal Reserve’s Board of Governors pushed back against Democratic concerns that he would merely do Trump’s bidding at the central bank, even as he acknowledged he would retain his White House job.

In his confirmation hearing before the Senate Banking Committee on Thursday, Stephen Miran said he intends to take an unpaid leave of absence from his post as chair of the White House Council of Economic Advisers if confirmed to the Fed for a term that is set to expire at the end of January.
Miran also reiterated his commitment to central bank independence and pledged to make decisions based on his own analysis. He added that a central bank’s most important job is preventing depressions and hyperinflation.

The Trump administration official, who said he has spent much of his career studying monetary policy, last year wrote a paper detailing numerous proposals to overhaul the Fed, including ways to undercut its independence.

Today's show features:

• Bloomberg TV and Radio International Economics & Policy Correspondent Mike McKee on the Stephen Miran Federal Reserve Confirmation Hearing
• Max Levchin, Co-Founder & CEO at Affirm, on earnings and the fintech landscape

Plus, Carol and Tim broadcast live as part of Power Players New York. They speak with:

• Derek Sprague, CEO, PGA of America, and Bloomberg News Texas Bureau Chief Julie Fine on the upcoming Ryder Cup and the mission to reunited the sport of golf
• Alex Rodriguez, Chairman & CEO of A-Rod Corp, and Bloomberg Originals Chief Correspondent Jason Kelly, on the newest season of “The Deal”

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McKissack & McKissack is the oldest minority-owned professional design and construction firm in the United States. A family-owned business for more than 120 years, the firm provides a wide range of services to a variety of government agencies, municipalities, private institutions, industries, designers and developers, and attributes its longevity and success to the talented, service-oriented professionals that comprise the McKissack organization.

Cheryl McKissack Daniel, the company's President and CEO, examines the key issues impacting American infrastructure, including tariffs, and details the new book about her family's story, The Black Family Who Built America: The McKissacks, Two Centuries of Daring Pioneers. Cheryl speaks with Tim Stenovec and Carol Massar on Bloomberg Businessweek Daily.

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