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Shares in Eli Lilly surged on Friday after its experimental pill helped patients shed weight and control blood sugar about as well as Ozempic, an advance that could turbocharge what’s already one of the fastest growing markets in medicine. Shares of the drug’s originator Chugai Pharmaceutical Co. also soared.
The triumph of Ozempic, the blockbuster diabetes shot from Novo Nordisk A/S, and related drugs including Zepbound and Mounjaro from Lilly, has set off an all-out push to develop a pill that’s easier to take and less expensive to make. While rivals including Pfizer Inc. have suffered setbacks, analysts said success is critical to creating the $130 billion market they predict by the end of the decade.Hosts Carol Massar and Tim Stenovec speak with Bloomberg's Damian Garde about the new pill could mean for Eli Lilly.
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Featuring some of our favorite conversations of the week from our daily radio show “Bloomberg Businessweek Daily.” Hosted by Carol Massar and Tim Stenovec.
Hear the show live at 2PM ET on WBBR 1130 AM New York, Bloomberg 92.9 FM Boston, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 121, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio. You can also watch Bloomberg Businessweek on YouTube - just search for Bloomberg Podcasts. Like us at Bloomberg Radio on Facebook and follow us on X @carolmassar @timsteno
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Netflix reported first-quarter profit that exceeded Wall Street forecasts, boosted by a recent price increase and a strong slate of programming across the globe, like the hit UK series Adolescence. The owner of the world’s most popular online TV network said in a statement Thursday that earnings rose 25% to $6.61 a share, easily beating analysts’ estimates of $5.68. Sales grew 13% to $10.5 billion, in line with projections. This is the first time Netflix has reported financial results without disclosing how many customers it added or lost — the main yardstick investors previously used to gauge the company’s performance. Management is forcing investors to judge its success or failure based on more traditional financial metrics. The company boosted operating income by 27% to $3.3 billion, beating expectations of $3 billion. Its operating margin of 31.7% was more than three percentage points above its own forecast.
For instant reaction and analysis, hosts Carol Massar and Tim Stenovec speak with Bloomberg News Entertainment Reporter Lucas Shaw and Mark Douglas, President and CEO of MNTN.See omnystudio.com/listener for privacy information.
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Google illegally monopolized some online advertising technology markets, according to a federal judge, whose ruling marked the latest antitrust setback for the company and a challenge to its main source of revenue.
US District Judge Leonie Brinkema found on Thursday that the Alphabet Inc. unit violated antitrust law in the markets for advertising exchanges and tools used by websites to sell ad space, known as ad servers. But she said the company didn’t meet the definition of a monopoly for a third market of tools used by advertisers to buy display ads.
Alphabet shares quickly sank as much as 3.2% on the ruling, then slightly pared their losses. The stock was down 1.1% at $153.78 at 1:10 p.m. in New York.
Brinkema’s decision marked the second time in a year that Google was found by a court to be an illegal monopolist. A trial begins Monday in Washington on a remedy after the company was found to monopolize the online search market. The Justice Department is seeking to force Alphabet to sell off its Chrome browser.
In the ad technology case, Brinkema wrote in her 115-page opinion Thursday that “Google has willfully engaged in a series of anticompetitive acts to acquire and maintain monopoly power in the publisher ad server and ad exchange markets for open-web display advertising.” For over a decade, Google pushed web publishers to use its tools that both placed ads on websites and help manage their advertising business, the judge found.
Bloomberg News Legal Team Leader Sara Forden on Google’s Antitrust Case and Supreme Court to Hear Citizenship Case Michael McKee, Bloomberg International Economics and Policy Correspondent & Bloomberg Federal Reserve reporter Catalina Saraiva on whether the Fed's independence is in question Ken Natori, President of Natori Company, on how tariffs are impacting retail sector and we Drive to the Close with ReAnn Mitrione, Founder and CFA at Callan Family Office
Today's show features:Hosts: Carol Massar and Tim Stenovec Producer: Sebastian Escobar
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Heather Spilsbury, CEO of 50/50 Women on Boards discuses the importance of women being on company boards and the non profit's third annual 50 Women to watch for Boards program. 50/50 Women on Boards is a nonprofit education and advocacy campaign driving the movement toward gender balance and diversity on corporate boards.
Hosts: Carol Massar and Tim Stenovec
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The Trump administration is preparing to pressure nations to curb trade with China in negotiations over US tariffs, according to people familiar with the matter.
Dozens of nations are seeking reductions or exemptions from President Donald Trump’s historic import taxes. In exchange for doing so, the US is set to ask them to take steps limiting China’s manufacturing might, a bid to ensure Beijing doesn’t find avenues around Trump’s tariffs.
Trump’s top economic advisers are discussing asking representatives from other nations to impose so-called secondary tariffs, essentially a monetary sanction, on imports from certain countries with close China ties, according to a person familiar with the process. The US also wants trading partners to refrain from absorbing excess goods from China, other people said. Other concessions on China may also be put on the table.
Mexican officials are expecting the US to ask their country to increase tariffs on electric vehicle imports from China, according to a person familiar with the government’s thinking. Mexico’s economy ministry declined to comment.
Caroline Freund, Dean of the School of Global Policy and Strategy at UC San Diego on US/China relations Bloomberg Intelligence Senior Semiconductor Analyst Kunjan Sobhani & Bloomberg Technology co-host Ed Ludlow on latest Nvidia & AMD news Silvio Tavares, CEO at VantageScore on bank consumer sentiment and retail tariffs affecting credit scores and we Drive to the Close with David Harden, CIO of Summit Global Investments
Today's show features:Hosts: Carol Massar and Tim Stenovec Producer: Sebastian Escobar
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Columbia University Senior Research Scholar and Professor Edward Fishman on US credibility and how that is affecting its stance in the midst of a global trade war. Plus, Bloomberg News Higher-Education Finance Reporter Janet Lorin on Harvard's fight with the Trump administration and Jillian Berman on her book, "Sunk Cost, Who’s to Blame for the Nation’s Broken Student Loan System and How to Fix It"
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Bloomberg Businessweek National Correspondent Josh Green on Trump’s Tariff Obsession Bloomberg News Finance Reporter Katherine Doherty on Bank of America Earnings & Bloomberg News US Finance Team Leader Sally Bakewell on Citi Earnings Bloomberg Detroit Bureau Chief David Welch, on today's Big Take: Mary Barra Is Trying to Sell EVs in Trump’s America and we Drive to the Close with Alan Zafran, Founding Partner and Co-CEO at IEQ Capital
Today's show features:Hosts: Carol Massar and Tim Stenovec Producer: Sebastian Escobar
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Kim Forrest, Founder and CIO of Bokeh Capital Partners, discusses why the tariff war has highlighted people's short term views on the market and to "keep calm and invest on." Plus, Bloomberg Tech Reporter Riley Griffin on RFK Jr. warning his FDA staff of ‘Deep State’ in All-Hands Meeting
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Bloomberg Intelligence Senior Antitrust Litigation Analyst Jen Rie on Meta Faces Potential Breakup With Start of Antitrust Trial Bloomberg News Editorial Board Member Christine Harper on Volcker’s Lessons for Restoring US Credibility Bloomberg News Managing Editor for Global Consumer Tech Mark Gurman on Apple's Supply Chain We Drive to the Close with Andrew Slimmon, Senior Portfolio Manager at Morgan Stanley Investment Management
Mark Zuckerberg took the stand in federal court Monday as the first witness in the US Federal Trade Commission’s antitrust trial seeking to break up Meta Platforms Inc.
The company’s founder and chief executive officer will face questions about the company’s acquisitions of Instagram and WhatsApp. The FTC is seeking to force Meta to divest those platforms, alleging the acquisitions gave Meta an illegal monopoly on portions of the social networking industry.
In initial questioning by the FTC’s lead trial lawyer, Daniel Matheson, Zuckerberg described the company’s early history and acknowledged that he rejected advice to sell the company early on because it would not be possible to compete with MySpace.
Zuckerberg went on to describe the creation of the Facebook news feed in 2006 to facilitate “real connections to actual friends.” That use is key to the FTC’s argument that the company is primarily focused on sharing information with friends and family.
Today's show features:Hosts: Carol Massar and Tim Stenovec Producer: Sebastian Escobar
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Bloomberg News Chief Wall Street Correspondent Sridhar Natarajan and Bloomberg Intelligence Senior Analyst for Global Investment Banks & Asset Managers Alison Williams on bank earnings Paul Rice, Founder of Fair Trade USA, and author of "Every Purchase Matters: How Fair Trade Farmers, Companies, and Consumers Are Changing the World" Gracelin Baskaran, Director of the Critical Minerals Security Program at the Center for Strategic and International Studies, and Bloomberg News metals and mining reporter Joe Deaux
Wall Street’s gyrations shook markets anew, with stocks wiping out losses to extend their best weekly rally since 2023. The rebound came as a selloff in longer-term Treasuries and the dollar abated, following a few chaotic days that underscored fears foreign investors are beating a retreat from American assets.
Volatility shows little signs of easing as concerns that President Donald Trump’s fast-evolving trade policy is not only shaking the global economy, but threatening the US status as the world’s safe haven. The S&P 500 jumped about2% on a report that a Federal Reserve official said the central bank is ready to help stabilize markets, if needed. US 30-year yields dropped, while still remaining up by 45 basis points since last Friday.
Not since the pandemic has there been this little clarity on the outlook for economies, markets and businesses, with China unleashing retaliatory measures and Trump pausing some levies only hours after they took effect. Variations of “uncertainty,” “unknowns” and “turbulence” arose again and again as three of the biggest US banks kicked off the industry’s earnings reports on Friday. JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said he expects “a kerfuffle” in Treasuries that prompts a Fed intervention.
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Featuring some of our favorite conversations of the week from our daily radio show "Bloomberg Businessweek Daily."
Hosted by Carol Massar and Tim StenovecHear the show live at 2PM ET on WBBR 1130 AM New York, Bloomberg 92.9 FM Boston, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 121, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio.
You can also watch Bloomberg Businessweek on YouTube - just search for Bloomberg Global News.Like us at Bloomberg Radio on Facebook and follow us on Twitter @carolmassar @timsteno and @B
See omnystudio.com/listener for privacy information.
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Louis Navellier, Chairman, Founder and CIO of Navellier & Associates, explains why he's optimistic about markets with quarterly earnings set to start rolling out in full force, and why he believes "the bond vigilantes are in charge" at the White House following President Donald Trump's temporary tariff pullback.
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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Intelligence Chief Equity Strategist Gina Martin Adams on markets Ryan Detrick, Chief Market Strategist with The Carson Group Mike Siegel, Goldman Sachs Global Head of Insurance Asset Management & Global Head of Liquidity Solutions and Bloomberg TV Global Finance Correspondent Sonali Basak
Less than 24 hours after President Donald Trump backtracked on his once-in-a-century trade war to prevent a meltdown in financial markets, frantic selloffs hit US stocks, bonds and the dollar yet again as fears of a worldwide recession engulfed Wall Street.
The S&P 500 Index ended the day down 3.5% as investors seized on Wednesday’s historic rebound to sell. Long-term Treasuries sank, sending yields soaring after a brief respite. The dollar tumbled for a third day as traders liquidated US assets in favor of haven currencies like the Swiss franc, which surged by the most in a decade. Meanwhile, oil prices fell further.
In a measure of how volatile markets have become since Trump announced his plan to impose punitive tariffs on dozens of America’s trading partners, the S&P 500’s gyrations in the past two trading have rivaled those unleashed by the pandemic and the 2008 financial crisis.
The moves, in the end, all pointed toward the same sobering conclusion: Trump’s chaotic tariff rollouts — regardless of where they eventually settle — is rapidly undermining confidence in the US economy and threatening to keep markets on edge for the next three months as traders wait to see how it will all play out.
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China Beige Book International Chief Operating Officer Shehzad Qazi examines President Donald Trump's latest salvos in the US-China trade war and discusses the odds of an economic decoupling between the two superpowers.
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Vincent Cignarella, Bloomberg Markets Live Macro Strategist Brent Schutte, Chief investment Strategist at Northwestern Mutual Wealth Management Danielle DiMartino Booth, CEO & Chief Strategist at QI Research
President Donald Trump’s pledge to pause tariffs on some trading partners ignited the biggest burst of buying Wall Street has seen since 2008. Trump announced a 90-day pause on higher reciprocal tariffs that hit dozens of trade partners after midnight, while raising duties on China to 125%.
After narrowly avoiding a bear market, the S&P 500 staged a historic bounce from a selloff that wiped out trillions from global share prices amid the specter of a full-blown trade war that fueled fears of a US recession. The equity benchmark soared 9.5%, the most since the global financial crisis, while the Nasdaq 100 surged 12% as euphoria gripped markets after four days of bruising, high-volume trading. Nearly every stock in major gauges rose.
Treasuries staged a tentative return to normalcy as investors dumped havens on fear of missing out on the great risk rebound. Two-year US yields briefly spiked past 4% as traders pared expectations for Federal Reserve rate cuts this year.
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ICYMI: Bloomberg News finance reporter Max Abelson explains how the Trump administration's economic policies, particularly when it come to tariffs, are causing global financiers to brace for soured loans, canceled deals, and job losses.
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Vincent Cignarella, Bloomberg Markets Live Macro Strategy Wendy Schiller, professor of political science at Brown University Swamy Kotagiri, Magna International Chief Executive Officer
Another volatile day on Wall Street pushed the S&P 500 Index back to the brink of a bear market as the Trump administration doubled down on its plans to enact hefty tariffs that threaten to send the American economy into a recession.
The S&P 500 fell 1.6% in a fourth straight session that has seen moves of at least 4% from peak to trough. The index powered higher by as much as 4% in early trading on optimism that President Donald Trump would negotiate lower rates on key allies.
Meanwhile President Trump’s tariffs are rattling US consumers, who are stocking up on everything from cars to olive oil and iPhones. The behavior offers some good news for businesses that are rushing to figure out how to respond to the upheaval caused by Trump’s global trade war.
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ICYMI: Trillium economist and portfolio manager Cheryl Smith joins to discuss her outlook on Trump's trade war and how long she sees volatility affecting markets.
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Dan Ives, Global Head of Technology Research at Wedbush Securities Bloomberg News Equities Americas Team Leader Eric Weiner Bloomberg News Cross-Asset Reporter Isabelle Lee
Tesla Inc.’s stock extended losses Monday, dropping below a price at which Commerce Secretary Howard Lutnick predicted they’d never fall to again.The shares plunged as much as 9.2% to $217.41 as of 9:41 a.m. in New York, amid a broader selloff in global equity markets. Lutnick said during a Fox News interview on March 19 — when Tesla closed at $235.86 — that viewers should buy the stock, saying “it’ll never be this cheap again.” Chief Executive Officer Elon Musk told Tesla employees the following day that they should hang on to their shares.
Meanwhile waves of volatility shook broader markets anew, with stocks, bonds and commodities getting whipsawed by another deluge of headlines around President Donald Trump’s trade war that only reinforced the clouds hanging over the outlook for investing and the economy.
Traders looking for equities to snap back after a selloff of trillions of dollars were faced with a series of twists and turns on Monday. While the S&P 500 moved away from the threshold of a bear market, its bottom-to-top intraday reversal was the biggest since 2020 when Covid upended global trading. Treasuries weakened, with yields across all maturities higher by over 10 basis points — a stark turnaround from the plunge earlier in the day.
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- Visa fler