Bloomberg Businessweek

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

President Trump said US officials had a “very good” meeting with Iranian representatives, a rare direct encounter that offers a fresh opportunity to restart talks to end the nearly seven-month war. Trump didn’t provide details on who participated in the meeting, but referred to his special envoys Steve Witkoff and Jared Kushner, who sat alongside the president.

The US administration has signaled a renewed effort to end the war in the Middle East, with Trump claiming the conflict will end just after the November US midterm elections, if not before. Earlier on Tuesday in his UN address, Trump threatened to “annihilate” Iran if its officials don’t strike a deal. Meantime, President Trump dismissed calls for an international agreement to put guardrails around the development of artificial intelligence, brushing off concerns about the dangers of frontier models going rogue.

On today's episode:
Tyler Kendall, Bloomberg News Washington Correspondent & Nick Wadhams, Bloomberg News National Security Reporter
Becca Wasser, Defense Lead for Bloomberg Economics
Ellen Wald, Senior Fellow at The Atlantic Council Global Energy Center
Mandeep Singh, Global Head of Technology Research for Bloomberg Intelligence
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The people, companies and trends shaping the global economy.
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF
CNN, MS Now and Politico filed a lawsuit seeking to allow their journalists to enter the White House grounds days after President Donald Trump revoked their access, turning to the courts in their fight over constitutional protections for the press. The news outlets claim the ban is a “direct assault” on the First Amendment and “a blatant violation of our most fundamental constitutional principles,” according to the complaint filed Monday in federal court in Washington.
For more, hosts Carol Massar and Tim Stenovec speak with Tim O’Brien, Senior Executive Editor for Bloomberg Opinion.
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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

Oil fell below $100, heading for its longest run of declines since June, as robust flows through the Strait of Hormuz and diplomacy around the US-Iran war tamed a recent rally. Satellite data showed that Saudi Arabia’s observed oil loadings from inside the Persian Gulf jumped over the weekend, with the highest number of ships seen at the nation’s main Persian Gulf port since June. Meanwhile, US President Donald Trump told Fox News he would “probably” be open to meeting his Iranian counterpart, Masoud Pezeshkian, on the sidelines of the UN General Assembly in New York this week.

Trump will also hold a summit with Chinese President Xi Jinping, and may meet leaders of Persian Gulf nations. Iran’s Islamic Revolutionary Guard Corps, for its part, said it has prepared itself for a protracted war, state media reported.
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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

Billionaires are difficult to ignore these days — flying into space, funding election campaigns, promoting AI, warning about AI and generally making a racket on social media. One billionaire sits in the Oval Office, while others control the world’s large language models and internet algorithms, including the choice of just how addictive our devices should be.

A new book, The Everywhere Millionaire: Who Is Really Rich in America and How They Got There, tries to uncover much more about this somewhat hidden slice of America’s upper crust. Sifting through the available evidence, economists Owen Zidar and Eric Zwick argue we’re getting distracted by the loudest and richest billionaires and missing the much more numerous “Main Street millionaires” who are the real sources of wealth and power in America.

We speak with the book's authors Owen Zidar, Professor of Economics and Public Affairs at Princeton University, and Eric Zwick, Associate Professor of Finance at the University of Chicago School of Business.
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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

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