Yemen's armed forces took control of the Red Sea city of Mocha on Monday after battles with the Iran-backed Houthis, state-run Saba said. This puts the internationally recognized government closer to taking over the Bab el-Mandeb Strait, a narrow chokepoint between the Red Sea and the Gulf of Aden that Saudi Arabia had been using to export oil and bypass the Strait of Hormuz. Bloomberg's Stuart Livingstone-Wallace reports. (Source: Bloomberg)
Chancellor Friedrich Merz’s government is struggling to agree on a package of measures to contain Germany’s widening budget gap in a growing dispute that’s becoming a danger to the coalition’s survival.
Malaysian Prime Minister Anwar Ibrahim said more than 10,000 people have been repatriated to Myanmar this year and he will raise the issue of sending more home when he meets Myanmar President Min Aung Hlaing this week.
Hundreds of French high schools were shut on Tuesday as teacher unions joined a student-led movement demanding more money for education that has spread across the country and sometimes turned violent.
Benoit Berthelot, William Horobin, Nayla Razzouk and Ania Nussbaum
Justice Samuel Alito said he plans to remain on the Supreme Court even if Democrats capture the Senate in next month’s midterms, dismissing speculation that he might quickly retire to ensure Donald Trump can get a successor confirmed.
Police in India’s capital, New Delhi, temporarily detained key opposition leader Rahul Gandhi to end an almost nine-hour standoff, during a protest seeking the resignation of the chief election official over a contentious revision of voter rolls.
Japanese Prime Minister Sanae Takaichi defended her absence from a Group of Seven online meeting, responding over social media to some critics who questioned why she didn’t attend despite her apparently free schedule.
Voters in Quebec elected the separatist Parti Québécois for the first time in more than a decade, setting the stage for more strained relations with Prime Minister Mark Carney’s government and an eventual referendum on the province’s independence from Canada.
President Donald Trump on Monday signed an executive order to ease restrictions on the use of a tax-exempt variety of diesel, his latest bid to pare costs for the fuel ahead of November’s midterm elections.
Hadriana Lowenkron, Jennifer A. Dlouhy and Josh Wingrove
Higher global bond yields will put pressure on the Australian budget as the widespread selloff pushes debt refinancing costs higher, Australian Treasurer Jim Chalmers warned on Tuesday.
"Balance of Power" focuses on the intersection of politics and global business. On today's show, Sen. Mark Warner (D-VA), Vice Chairman of the Senate Select Committee on Intelligence, says the Senate Intelligence Committee was not briefed about US bombers leaving a UK base and says lawmakers are not receiving regular updates on the conflict with Iran. Heather Conley, senior fellow at AEI, a senior advisor at Evenflow Macro LLC and a former Deputy Assistant Secretary of State in the Bureau of European and Eurasian Affairs, says conflicting explanations from the administration over the movement of US bombers from the UK's Fairford airbase raise questions about the military's ability to protect its assets. Patrick McHenry, Former House Financial Services Chair and Speaker Pro Tempore, says Republicans are playing defense in the 2026 midterms as campaign money moves toward races the party considers more urgent to protect. (Source: Bloomberg)
President Donald Trump pledged to pay for video ads with his personal funds — and money from his super political action committee — following ethical concerns about the messages that are running at taxpayer expense.
Patrick McHenry, Former House Financial Services Chair, says Republicans are playing defense in the 2026 midterms as campaign money moves toward races the party considers more urgent to protect. McHenry says Republicans should address the debt ceiling while they control Congress and the White House, warning Democrats could use it as leverage next year and that another standoff could cause greater Treasury-market turmoil than the 2023 fight. He speaks with Kailey Leinz and Joe Mathieu on Bloomberg’s "Balance of Power." (Source: Bloomberg)
Heather Conley, senior fellow at AEI, a senior advisor at Evenflow Macro LLC and a former Deputy Assistant Secretary of State in the Bureau of European and Eurasian Affairs, says conflicting explanations from the administration over the movement of US bombers from the UK's Fairford airbase raise questions about the military's ability to protect its assets. Conley says improved crude flows through the Strait of Hormuz do not solve the energy problem because supplies of refined products remain constrained. She speaks with Kailey Leinz and Joe Mathieu on Bloomberg’s "Balance of Power." (Source: Bloomberg)
Sen. Mark Warner (D-VA), Vice Chairman of the Senate Select Committee on Intelligence, says the Senate Intelligence Committee was not briefed about US bombers leaving a UK base and says lawmakers are not receiving regular updates on the conflict with Iran. Sen. Warner says the move could give Iran a propaganda win by allowing it to claim it drove the US away from an allied airbase and warns Iran could continue to extract a toll on oil, diesel, aluminum and fertilizer. Sen. Warner also says AI needs mandatory safety testing while the US continues to compete with China. He speaks with Kailey Leinz and Joe Mathieu on Bloomberg’s "Balance of Power." (Source: Bloomberg)
The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF
US stocks extended gains on Monday as investors weighed resilient earnings expectations against mounting bond-market and political worries. The S&P 500 inched closer to a record high despite the benchmark Treasury yield spiking to the highest in more than two decades. The stock gauge has gained roughly 14% since the beginning of the year.
On today's episode:
Ed Harrison, Bloomberg News Senior Strategist
Laura Nahmias, Bloomberg News Senior Reporter & Seth Fiegerman, Bloomberg News AI Editor
Sumit Roy, Realty Income CEO
Dylan Sloan, Bloomberg News Wealth Reporter (Source: Bloomberg)
The Close brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today's guests are Kestra Investment Management Chief Investment Officer Kara Murphy, Vanguard Senior Fixed Income Client Portfolio Manager Joyce Huang, BofA Securities Senior Equity Research Analyst Wamsi Mohan, CH Robinson President & CEO Dave Bozeman, Former Boston Fed President Eric Rosengren, Pivotal Advisors CEO & CIO Tiffany McGhee, UBS Chief Investment Office Fixed Income Strategy Head Leslie Falconio, CHANGE Global Founder & Managing Director Thea Jamison, Coresight Research Founder & CEO Deborah Weinswig, & Babylist CEO Jennifer Hyman. (Source: Bloomberg)
The Trump administration agreed to pay $950 million to buy three California immigration detention facilities from GEO Group Inc., part of a broader push to give the federal government more direct control over the infrastructure behind its mass deportation campaign.
Former Boston Fed President Eric Rosengren described the U.S. economy as middling: inflation has eased more than policymakers expected at their September meeting, while the latest jobs report was somewhat weak. He said the Fed is likely to wait until its final meeting of the year before deciding whether another 25-basis-point hike is needed, rather than act just before the midterm elections. He speaks with Scarlet Fu & Hema Parmar on "The Close." (Source: Bloomberg)
