Podcast: Angry markets and spicy tariffs

Plus more great articles from Businessweek ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Welcome to the Saturday edition of Businessweek Daily, featuring the Everybody’s Business podcast. Let us know what you think by emailing the editor. If this newsletter was forwarded to you, click here to sign up. Subscribe to Bloomberg.com for unlimited access to all our coverage. Anyone hoping for a sleepy summer in markets or the economy got a rude awakening this week: Not only did some Big Tech earnings come in lower than expected, but US growth numbers and consumer confidence data were disappointing. The news culminated with Federal Reserve Chairman Kevin Warsh announcing that the central bank had decided to hold rates steady, with 3 of 12 voting members pushing for an interest rate hike. “Markets are angry,” says Eric Weiner, a senior editor for equities at Bloomberg News. After decades of transparent Fed leaders and “forward guidance,” Weiner says Warsh’s behind-the-veil approach has created an information void that is causing volatility. This week on Everybody’s Business, Stacey Vanek Smith and Max Chafkin discuss the state of the economy with Weiner and why the formerly fail-safe Magnificent Seven companies are no longer the reliable moneymaking machines they’d once been. Also on the podcast, Ori Zohar, co-founder of single origin spice company Burlap & Barrel, talks about why the company filed a lawsuit over President Donald Trump’s latest tariffs and what trade wars have meant for small businesses over the past year and a half. “They’ve cost us hundreds of thousands of dollars,” says Zohar, who adds that the company has held off on hiring and expanding, not to mention scuttling plans for a spice-themed Advent calendar. Listen and subscribe on Apple, Spotify, iHeart and the Bloomberg Terminal. Everybody's Business Wall Street's Big Gamble More Weekend Reads How concrete is wrecking the planet at the same time it’s defending it from climate change. Can chatbot makers be held legally responsible for suicides and violent crimes involving their users? President Donald Trump rewrites corporate norms with an Arctic mining deal. How a few hundred dollars could manipulate election prediction markets. Big Take Can We Trust Election Prediction Markets? Danielle Smith, Alberta’s MAGA-friendly premier, advances a pro-oil agenda in Canada. As corporate America’s maximalist approach to AI winds down, workers and their managers are left fumbling through what comes next. In Pennsylvania’s gubernatorial race, Republicans vie for voters’ attention with a drama miniseries that doubles as a campaign ad. The Pentagon is getting a private equity transformation with Deputy Defense Secretary Stephen Feinberg, a co-founder of Cerberus Capital Management. Fighting between the US and Iran is just one constraint on the oil supply. How the Russia-Ukraine war is also keeping traders on edge. Although consumer spending proves resilient amid the Iran war, the outlook for inflation remains complicated for the Fed. Wildfires in some parts of Europe are starting to resemble the kinds of massive blazes that consume millions of acres across the US every summer. The Mishal Husain Show: Peter Frankopan on an Era of Consolidation Play Alphadots! Our daily word puzzle with a plot twist. Today’s clue: Use it for quick self-checkout? Play now! We’re improving your newsletter experience and we’d love your feedback. If something looks off, help us fine-tune your experience by reporting it here. Follow Us You received this message because you are subscribed to Bloomberg’s Businessweek Daily newsletter. If a friend forwarded you this message, sign up here to get it in your inbox. Unsubscribe Bloomberg.com Contact Us Bloomberg L.P. 731 Lexington Avenue New York, NY 10022 |