Bloomberg Businessweek

US President Donald Trump called his meeting with Russian counterpart Vladimir Putin “extremely productive” but indicated that a deal to end the war had still not been finalized, adding that he would speak to NATO allies and Ukrainian President Volodymyr Zelenskiy.

“There’s no deal until there’s a deal,” Trump said Friday in Anchorage, Alaska as he stood alongside Putin for a joint event. 

Putin spoke first at the event, casting the conversations as useful and said they were held “in a constructive atmosphere.” He talked of unspecified agreements with Trump, and suggested that Ukraine was only one of multiple issues discussed, pointing to the potential for increased trade and business cooperation as well as work in the Arctic and in space exploration.

The event followed the longest ever face-to-face meeting between the two leaders.

On this special edition of Bloomberg Balance of Power, we hear instant reaction to and analysis of the summit and the press conference. Host Joe Mathieu speaks with:

• Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino.
• Bloomberg Managing Editor Kevin Whitelaw. 
• Bloomberg Chief Political Correspondent Annmarie Hordern.

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President Donald Trump and Russian counterpart Vladimir Putin began discussions at a highly anticipated summit with the US leader looking to secure an end to the war in Ukraine.
Reporters later saw the two in a room with their aides, as the discussions formally began, but the leaders did not take any questions. Alongside Trump were US Secretary of State Marco Rubio and special envoy Steve Witkoff, while Putin was joined by Foreign Minister Sergei Lavrov and Kremlin foreign policy aide Yuri Ushakov.

Moments earlier, Trump had greeted Putin with a warm handshake and a pat on the arm in their first face-to-face encounter of the US president’s second term. The two leaders disembarked from their planes, walking across the tarmac to red carpets before meeting in a highly choreographed opening. Trump clapped as he watched Putin approach.

Trump and Putin paused for a moment to watch a flyover and the US president was seen putting his hand on the Russian leader’s back as they walked down a set of steps. The two leaders appeared to be engaged in friendly conversation as they entered the Beast, as the US president’s armored limousine is known, and departed.

The Russian leader was seen laughing as the vehicle departed as he began a visit that marked his first invitation to the US in nearly a decade.

Today's show features:

• Elise Giuliano, Senior Lecturer in Political Science at Columbia University, on expectations for the Trump-Putin summit
• Jimmy Lee, Founder and CEO of the Wealth Consulting Group, on the Federal Reserve, investing and asset allocation strategies
• Monica Duffy Toft, Professor of International Politics for The Fletcher Schoo at Tufts University, on the next steps for Ukraine after the meeting between President Trump and Russia’s Vladimir Putin

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Creatio is a global software company specializing in low-code and no-code process automation for customer relationship management (CRM) and enterprise workflows with artificial intelligence tools increasingly playing a part. Millions of workflows are launched on the platform daily by thousands of clients across 100 countries, with a funding round completed in June 2024 having raised to company's value to $1.2 billion.

Katherine Kostereva, Creatio's founder and CEO, discusses the impact of AI on the tech labor landscape and why she believes the emerging technology won't negatively impact coders. Katherine speaks 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.

The Trump administration is in talks with Intel Corp. to have the US government potentially take a stake in the beleaguered chipmaker, helping support the company’s effort to expand domestic manufacturing, according to people familiar with the plan.

The deal would help shore up Intel’s planned factory hub in Ohio, said the people, who asked not to be identified because the deliberations are private. The company had once promised to turn that site into the world’s largest chipmaking facility, though it’s been repeatedly delayed. The size of the potential stake isn’t clear.

The plans stem from a meeting this week between President Donald Trump and Intel Chief Executive Officer Lip-Bu Tan, the people said. The idea is for the US government to pay for the stake and details are being sorted out, one of the people said. Another cautioned that the plans remain fluid.

Today's show features:

• Bloomberg News Senior Executive Editor for Global Tech Tom Giles and Deals Reporter Ryan Gould on the Trump administration entering talks with Intel Corp. to potentially take a stake in the company
• Bloomberg Economics Chief Geoeconomics Analyst Jennifer Welch on President Donald Trump’s comments ahead of his summit with Russia’s Vladimir Putin
• Nicola Willis, Minister of Finance for New Zealand on the global trade war, golden visas and her nation’s economic outlook
• Sarah Ponczek, Senior Vice President of Private Wealth Management for UBS Private Wealth Management, on markets and the Federal Reserve

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Apple Inc. is plotting its artificial intelligence comeback with an ambitious slate of new devices, including robots, a lifelike version of Siri, a smart speaker with a display and home-security cameras.
A tabletop robot that serves as a virtual companion, targeted for 2027, is the centerpiece of the AI strategy, according to people with knowledge of the matter. The smart speaker with a display, meanwhile, is slated to arrive next year, part of a push into entry-level smart-home products.
Mark Gurman, Managing Editor for Global Consumer Tech for Bloomberg News, explains why home security is seen as another big growth opportunity for the tech giant. Mark speaks 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.

US President Donald Trump warned he would impose “very severe consequences” if Vladimir Putin didn’t agree to a ceasefire agreement later this week, following a call with European leaders ahead of his meeting with the Russian president.

Trump also said he hoped to use the Friday meeting to set up a “quick second meeting” with Ukrainian leader Volodymyr Zelenskiy after allies pressed him to push for such a summit.
“There’s a very good chance that we’re going to have a second meeting which will be more productive than the first,” Trump told reporters Wednesday at the Kennedy Center, adding that he was “setting the table for the second meeting."

The president’s remarks signaled both that he was looking to downplay expectations for the delivery of a full peace deal from his Anchorage, Alaska summit with Putin, and responding to concerns from his European partners who urged him to prioritize direct Putin-Zelenskiy talks. Skeptics of Trump’s effort have expressed concern that the US president — who has said an eventual deal would include territorial exchanges — could agree to peace terms proposed by Putin that would disadvantage Ukraine.

Today's show features:

• Bloomberg News National Security Team Leader Nick Wadhams on expectations for Friday’s Alaska Summit between President Trump and Russia’s Vladimir Putin
• Bloomberg Economics Chief Geoeconomics Analyst Jennifer Welch on how China has been preparing for a trade war with the US for decades
• Bloomberg Intelligence Global Equity Strategist Gillian Wolff on the Wednesday trade
• Gary Evans, Chairman and CEO of United States Antimony Corp., and Bloomberg News Economic Statecraft Reporter Joe Deaux, on the company's latest earnings and the critical minerals market

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Green firms in the US have found something of a lifeline in artificial intelligence after being bogged down by high interest rates, shrinking funding and, more recently, President Donald Trump’s sharp rollback of support. Clean technology companies that have inked deals to support data centers have seen their stocks soar this year, outperforming the S&P 500. Nuclear power startup Oklo Inc.’s shares are up nearly 275% year-to-date while the stock price of fuel cell provider Bloom Energy Corp. has risen more than 80% as of Tuesday's US market close. Energy storage and clean power snagged the most public and private investment among climate tech sectors last quarter, according to BloombergNEF.

Dr. KR Sridhar, Founder, Chairman and CEO of Bloom Energy, discusses his company's place in the green technology landscape as well as its third straight quarter of record revenue and profits, which were reported in its most recent earnings on July 31. Dr. Sridhar speaks with Carol Massar and David Gura on Bloomberg Businessweek Daily.

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Underlying US inflation accelerated in July though the cost of tariff-exposed goods didn’t rise as much as feared, boosting expectations that Federal Reserve officials will lower interest rates when they meet next month.

The core consumer price index, which excludes the often volatile food and energy categories, increased 0.3% from June, the strongest pace since the start of the year, according to Bureau of Labor Statistics data out Tuesday. That was in line with economists’ forecasts, as was the overall CPI on a monthly basis.

The pickup in the core CPI was fueled by services prices. Excluding energy, they climbed the most since the start of the year. Airfares jumped by the most in three years, while medical care and recreation also advanced. Goods prices, excluding food and energy commodities, rose at a tame pace. Some categories exposed to tariffs, such as toys, sporting goods and household furnishings and supplies, continued to increase, albeit at a slower pace than the prior month. Meantime, used car prices rebounded from a series of declines.

The reacceleration in services costs, after months of more subdued prints, underscores the lingering difficulties in taming inflation. Economists and policymakers have been largely concerned about rising goods prices given President Donald Trump’s sweeping tariffs, but a pickup in consumer demand could fuel services inflation.

Today's show features:

• Pooja Sriram, Vice President of US Economics Research at Barclays, on the latest US inflation print and Bloomberg TV Radio International Economics and Policy Correspondent Mike McKee on Federal Reserve and White House news
• Shehzad Qazi, Chief Operating Officer and Managing Director of China Beige Book, on China’s response to what it calls US “protectionist measures,” and Bloomberg Economics Geo-Economic Analyst for Latin America Jimena Zuniga on
  Brazil seeking support from BRICS partners for a joint response to US tariffs.
• Bloomberg News Treasury Reporter Daniel Flatley and Bloomberg New Economy Reporter Editorial Director Erik Schatzker on their Bloomberg Big Take and upcoming Businessweek cover story on Treasury Secretary Scott Bessent

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Inspire is a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea. Inspire’s proprietary Inspire therapy is the first and only FDA, EU MDR, and PDMA-approved neuro-stimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.
The company last week cut its revenue guidance for the full year, saying the US commercial launch for Inspire V is going slower than expected. On Monday, however, it announced a $200 million stock buyback plan, which representing 8.5% of the company's current market value, data compiled by Bloomberg show.

Tim Herbert, Inspire's Founder, Chairman, President and CEO discusses the reasons for the repurchase program and the health of the company overall. Tim speaks with Tim Stenovec and Carol Massar on Bloomberg Businessweek Daily.

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