When Meg Whitman was living in California and running first eBay Inc. and then HP Inc., the idea that Africa had some role to play in her businesses rarely crossed her mind. “I literally thought about Africa 1% of my time,” she says. Such inattention is common at US tech companies, which generally decided that…
Former President Donald Trump said he’d consider entirely replacing income taxes with tariffs, conceded he had botched senior staff appointments, and teased a possible revelation about extraterrestrial life during a freewheeling three-hour podcast with comedian Joe Rogan on Friday. It was an unorthodox – and lengthy – conversation for a presidential candidate, underscoring the Republican…
Forecasting the market is hard, some would say impossible. But that doesn’t keep Wall Street’s best and brightest from diving in to the fray, year after year. Rarely have their predictive energies been on greater display than this week, when Goldman Sachs warned that annual S&P 500 returns may narrow to a paltry 3% over…
Good morning. Trump accuses the UK Labour Party of election interference. A severe E. coli outbreak tied to McDonald’s sickens dozens in the US and kills one. And the EU is urged to create a spy agency. Listen to the day’s top stories. Donald Trump accused the UK’s Labour Party of illegal foreign campaign contributions…
This is the first episode of Citizen Elon, a miniseries within the Elon, Inc. podcast. Listen and subscribe to Elon, Inc. on Apple, Spotify, iHeart and the Bloomberg Terminal. At the center of the 2024 election is a kind of mystery. Elon Musk—who as recently as a few months ago seemed to deny that he…
Investors love a story, and politics makes for spicy plot lines. Just ask hedge fund manager Stan Druckenmiller, who made waves this week by telling Bloomberg Television that much of the frantic motion in markets of late reflects the pricing in of a Trump presidential victory. It may be true, but other explanations exist for…
A surge in hiring offers Vice President Kamala Harris a fresh defense in her fight with Donald Trump over the economy, as the pair jockey to frame their visions in the home stretch of the campaign. Friday’s jobs report, which beat all analyst estimates and pushed the unemployment rate down to 4.1%, is the latest…
Softening US economic data spurred the Federal Reserve into decisive action this week to support growth. An even weaker set of data out of China has left investors puzzled why its government hasn’t also mounted a concerted response. In fact, Chinese fiscal policy has shown evidence of tightening, not loosening. Monetary policy similarly shows no…
The Federal Reserve’s decision to cut interest rates this week was a surprise to … well, nobody. The US central bank, like many of its peers, had telegraphed the decision for weeks as it made inroads containing inflation and now seeks to prevent a wider slowdown in the economy. Even for an institution marked by…
The Federal Reserve kicked off its campaign to lower interest rates with a larger-than-typical half percentage-point cut, while the Bank of England decided against a second consecutive reduction. The Fed’s rate cut, which was larger than forecasters had generally anticipated, is Chair Jerome Powell’s attempt at ensuring a soft landing for the economy. In the…