The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF
US consumer spending rose in August at the fastest pace in over a year, helping to power the economy through persistent inflation. Inflation-adjusted personal spending climbed 0.6% in August from a month earlier, for the biggest monthly jump since March 2025. The Federal Reserve’s preferred measure of underlying inflation, the personal consumption expenditures price index excluding food and energy, rose a less-than-expected 0.2%. The prior month was also revised lower.
On today's episode:
Mike McKee, Bloomberg News & Lindsey Piegza, Chief Economist at Stifel
David Bahnsen, Founder & CIO at The Bahnsen Group
Mike McGlone, Bloomberg Intelligence Senior Commodity Strategist
Jennifer Palmer, Founder & CEO at JPalmer Collective (Source: Bloomberg)
President Donald Trump said he discussed the case of imprisoned Hong Kong businessman Jimmy Lai with Chinese leader Xi Jinping during their summit last week, but did not offer details on whether it yielded any results.
A vast majority of Americans favor requiring artificial intelligence companies to meet independent safety benchmarks for their models, even if those standards mean slowing development of the technology, according to a new poll.
US consumer spending rose in August at the fastest pace in over a year, helping to power the economy through persistent inflation. Inflation-adjusted personal spending climbed 0.6% in August from a month earlier, according to Bureau of Economic Analysis data released on Wednesday. That was the biggest monthly jump since March 2025. We get reaction from Bloomberg's Mike McKee and Lindsey Piegza, Chief Economist at Stifel. Bruce Markets CEO Jason Wallach joins Bloomberg News' Bernard Goyder to discuss the company's role in Robinhood Markets' plan to debut weekend equity trading. Jennifer Palmer, Founder & CEO at JPalmer Collective, discusses the evolving non-bank lending landscape. All on the latest episode of "Bloomberg Businessweek Daily."
(Source: Bloomberg)
The Trump administration faced skeptical questions from a US trade court about the legal foundation underpinning President Donald Trump’s latest round of global tariffs, once again putting one of his signature economic policies under a judicial microscope.
Record spending on 2026 midterms is shaping the handful of Senate races that are newly in play for Democrats and will impact the 2028 presidential race.
(Source: Bloomberg)
President Donald Trump said former Federal Reserve Chair Jerome Powell should resign from the central bank’s Board of Governors over findings the central bank mismanaged the renovation of its headquarters.
Defense Secretary Pete Hegseth called press coverage of the Iran war “a national betrayal,” and described journalists as anti-American traitors for reporting on the actions of the Pentagon.
Crypto billionaires Tyler and Cameron Winklevoss poured more than $2.9 million in just one day into advertising to fight Senate Democratic candidate Sherrod Brown, adding to the escalating financial firepower the crypto industry is training on the Ohio populist.
On the early edition of Balance of Power, Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz discuss the latest from DC. On today's show, Republican Senator Ted Budd of North Carolina, Stonecourt Capital Partner Rick Davis, Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino, Democratic Congresswoman Ami Bera of California and former Deputy Director of National Intelligence Lt. General Karen Gibson (Ret.). (Source: Bloomberg)
US Supreme Court Justice Samuel Alito said his withdrawal from a high-stakes climate change case involving the oil and gas industry was a “difficult judgment call” he made even after the court’s legal office said he didn’t have to disqualify himself.
Defense Secretary Pete Hegseth announced the creation of a new command to oversee and coordinate drone development and deployment supporting overseas operations.
Portugal’s opposition Socialist Party said it will ask lawmakers to abstain in an initial vote on the 2027 budget, boosting chances for the minority center-right government to push its fiscal plan through parliament.
Venezuela’s main opposition bloc demanded the repeal of a law used to prosecute dissidents and silence critics, rejecting acting President Delcy Rodríguez’s proposal to merely reform it.
A midterm election fight over data centers and surging electricity costs erupted in the Senate Wednesday with lawmakers trading accusations of political opportunism.
The Federal Reserve’s internal watchdog says there was nothing criminal about a project to renovate the central bank's headquarters in Washington. The $2.4 billion project did come in over budget. It became a flashpoint between former Fed Chair Jay Powell and President Donald Trump. Bloomberg's Michael McKee reports. (Source: Bloomberg)
A pilot of a jet carrying more than 170 passengers to Tel Aviv stabbed his colleague and tried to crash the plane in what Israeli Prime Minister Benjamin Netanyahu branded a serious security incident (translation via AP). (Source: Bloomberg)
Senate Democrats blocked a bill to prohibit US lawmakers from purchasing stock in public companies and lashed out at Republican leaders for attaching unrelated voter identification restrictions they argued would make casting ballots cumbersome for some US citizens.
