Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day than "Bloomberg Surveillance." (Source: Bloomberg)
Brightline agreed to give creditors that own its corporate debt at least a 4.75% equity stake in its reorganized business, as well as other incentives, as part of a deal to get the holdouts to back its Chapter 11 restructuring plan.
A flight operated by FlyDubai from Dubai to Tel Aviv narrowly avoided catastrophe after one of the pilots stabbed his colleague with the intent of bringing down the plane. The plane made an emergency landing in Saudi Arabia. (Source: Bloomberg)
A huge copper mine in Panama moved closer to a restart as ministers suggested opening talks for resumption, the latest twist in a yearslong saga around one of the country’s major economic assets.
Citadel CEO Ken Griffin is giving Carnegie Mellon University $3 billion, the largest single gift committed to a US university. $2 billion will be used to build a new campus in Miami, $1 billion will go to the main campus in Pittsburgh. Griffin and Carnegie Mellon President Farnam Jahanian speak to Bloomberg's Lisa Abramowicz in Pittsburgh. (Source: Bloomberg)
The Yorkville financial group was once little known on Wall Street. Now though, it is harder to miss: its affiliates help manage Donald Trump’s Truth Social-branded ETFs, have taken over the MAGA and YALL funds, and recently hired retail-investor favorite Dan Ives to co-build an investment-banking arm.
Banks wrapped up the syndication of roughly $52 billion of debt to fund Paramount Skydance Corp.’s acquisition of Warner Bros. Discovery Inc., locking in long-term financing at a hefty cost for the US media giant.
Brian Smith, Gowri Gurumurthy, Jeannine Amodeo and Michael Gambale
Amy Gower said gold is facing significant near-term pressure from rising long-dated bond yields and a stronger dollar, noting that as a nonyielding asset it becomes less attractive when investors can earn higher returns elsewhere. Even so, she argued that gold remains well supported because the metal is still trading above $4,000 an ounce, suggesting other forces are offsetting those headwinds. Gower pointed to strong physical demand, including central bank buying, active purchases from China and Poland, Chinese gold imports running more than 10 times PBOC reserve additions, and rising gold ETF holdings through September, which she said is unusual during a Fed hiking cycle. She also cited longer-term supports such as concerns about currency debasement, government debt, and fiscal sustainability. (Source: Bloomberg)
Australia’s housing market slump is deepening, with national prices in September retreating to levels last recorded a year ago due to weak demand from buyers.
Pool supplier Leslie’s Inc. filed for bankruptcy on Wednesday, with a plan to cut about 90% of the debt and hand control to creditors, after encountering mounting challenges for its. industry.
Citadel CEO Ken Griffin explains how he hopes his $3 billion gift to Carnegie Mellon University will change Miami. He speaks to Bloomberg's Dani Burger. (Source: Bloomberg)
Vishal Garg, founder and former chief executive officer of online mortgage firm Better Home & Finance Holding Co., has received enough shareholder support to remove five board directors, according to people familiar with the matter.
Hartford Insurance Group Inc. appointed President A. Morris Tooker as its next chief executive officer, ending Christopher Swift’s nearly 13-year run at the helm of the insurer.
The Reserve Bank of India’s net short dollar book rose past $200 billion for the first time, reflecting surging future repayment obligations from a dollar diaspora program to support the rupee.
The personal consumption expenditures price index, the Federal Reserve’s preferred measure of inflation, increased 0.3% from a month earlier. Excluding food and energy, the PCE price index rose 0.2%. US consumer spending rose in August at the fastest pace in over a year, helping to power the economy through persistent inflation. Michael McKee reports on Bloomberg Television. (Source: Bloomberg)
Long-dated Treasury yields rose to fresh multi-decade highs as resilient US spending bolstered expectations that the US economy can handle higher interest rates.
Germany is considering blocking a bid by Chinese container giant Cosco Shipping Holdings Co. from buying a majority stake in a small Hamburg-based freight company over security concerns.
