Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. 
Andrew W. Kahrl, Professor of History and African American Studies at the University of Virginia, discusses his book The Black Tax: 150 Years of Theft, Exploitation, and Dispossession in America.
Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan. 

Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF" data-destination="rte:bind">http://bit.ly/3vTiACF</a>. Andrew W. Kahrl, Professor of History and African American Studies at the University of Virginia, discusses his book <a data-destination="bb:rte:bind">The Black Tax: 150 Years of Theft, Exploitation, and Dispossession in America. </a>Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.

Listen for reporting from the magazine that helps global leaders stay ahead. 

Hosts Carol Massar and Tim Stenovec bring you insight on the people, companies and trends shaping today's complex economy.  You can watch and listen to Businessweek LIVE on YouTube, weekdays from 2PM to 5PM ET: http://bit.ly/3vTiACF. 

Listen for reporting from the magazine that helps global leaders stay ahead. Hosts Carol Massar and Tim Stenovec bring you insight on the people, companies and trends shaping today's complex economy.&nbsp; You can watch and listen to Businessweek LIVE on YouTube, weekdays from 2PM to 5PM ET: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.&nbsp;

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

Bloomberg Businessweek

Casting a Light on the Racist Practices of America’s Tax Regimes

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/563d81dc-7e29-4e4d-94e9-b18100c23053/transcript

The people, companies and trends shaping the global economy.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

Bank results so far show that private credit woes remain contained, with executives offering words of calm for nervous investors.

First, there are no big red flags in the aggregate credit loss provisions from the four big banks that have reported so far, including Wells Fargo. The measure, where stress typically starts to show, is tracking higher for some lenders -- for instance, Goldman attributed the increase to “growth and impairments related to wholesale loans,” yet the overall number remains very modest compared to peers.

Citi’s worse-than-expected provisions were tied to US consumer card losses and a firmwide reserves build amid the uncertain macro environment, but its measure is only the highest since 2Q 2025. That has also been offset by JPMorgan’s lower-than-estimated provisions. 
Taken altogether, the combined bad debt forecast tally is so far smaller than feared for the quarter and more modest than it was during the same period last year.

Banks went further to disclose at least $100 billion of specific exposure to private-credit firms, with Citi saying that it’s had zero losses over the life of the portfolio. Its executives noted on the call that the bank has strong protections in place, including a prudent approach to reserves, which it continues to constantly stress test.

For his part, JPMorgan CEO Dimon said he’s “not particularly worried” about private credit after the bank disclosed a $50 billion exposure. Goldman CEO David Solomon also defended the industry on Monday.

The remarks and moderate credit provisions so far should give investors some comfort that strains from private credit remain limited so far -- something that other parts of the credit market have been signaling as well.

Today's show features:
Herman Chan, Bloomberg Intelligence Senior Analyst, US Banks & Joe Hegener, Asterozoa Capital CIO & Founder on Bank Earnings
Alli McCartney, Alignment Partners at UBS Managing Director of Wealth Management on latest market reaction
Adam Farrar Bloomberg Economics Senior Geoeconomics Analyst for Asia-Pacific on US's Blockade on Iran
Sid Philip, Bloomberg News Chief Correspondent for Global Aviation on United CEO Pitched Trump on Possible Tie-Up with American Airlines

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>. Bank results so far show that private credit woes remain contained, with executives offering words of calm for nervous investors. First, there are no big red flags in the aggregate credit loss provisions from the four big banks that have reported so far, including Wells Fargo. The measure, where stress typically starts to show, is tracking higher for some lenders -- for instance, Goldman attributed the increase to &ldquo;growth and impairments related to wholesale loans,&rdquo; yet the overall number remains very modest compared to peers. Citi&rsquo;s worse-than-expected provisions were tied to US consumer card losses and a firmwide reserves build amid the uncertain macro environment, but its measure is only the highest since 2Q 2025. That has also been offset by JPMorgan&rsquo;s lower-than-estimated provisions. Taken altogether, the combined bad debt forecast tally is so far smaller than feared for the quarter and more modest than it was during the same period last year. Banks went further to disclose at least $100 billion of specific exposure to private-credit firms, with Citi saying that it&rsquo;s had zero losses over the life of the portfolio. Its executives noted on the call that the bank has strong protections in place, including a prudent approach to reserves, which it continues to constantly stress test. For his part, JPMorgan CEO Dimon said he&rsquo;s &ldquo;not particularly worried&rdquo; about private credit after the bank disclosed a $50 billion exposure. Goldman CEO David Solomon also defended the industry on Monday. The remarks and moderate credit provisions so far should give investors some comfort that strains from private credit remain limited so far -- something that other parts of the credit market have been signaling as well. Today's show features:
<ul>
<li>Herman Chan, Bloomberg Intelligence Senior Analyst, US Banks &amp; Joe Hegener, Asterozoa Capital CIO &amp; Founder on Bank Earnings</li>
<li>Alli McCartney, Alignment Partners at UBS Managing Director of Wealth Management on latest market reaction</li>
<li>Adam Farrar Bloomberg Economics Senior Geoeconomics Analyst for Asia-Pacific on US's Blockade on Iran</li>
<li>Sid Philip, Bloomberg News Chief Correspondent for Global Aviation on United CEO Pitched Trump on Possible Tie-Up with American Airlines</li>
</ul>

 Bank Earnings Offer Little Cause for Alarm on Private Credit

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/c9daf8b2-0c22-474a-b802-b42c014bd07f/transcript

The people, companies and trends shaping the global economy.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

CraftCo CEO Ali Anderson joins Tim Stenovec and Emily Graffeo to discuss her brands diverse portfolio of innovative craft spirits including celebrating a big anniversary for its Magnus Cigar Blend whiskey.

The people, companies and trends shaping the global economy.
Watch Carol and Tim LIVE every day on YouTube:&nbsp;<a href="http://bit.ly/3vTiACF" data-destination="rte:bind">http://bit.ly/3vTiACF</a>.
CraftCo CEO Ali Anderson joins Tim Stenovec and Emily Graffeo to discuss her brands diverse portfolio of innovative craft spirits including celebrating a big anniversary for its Magnus Cigar Blend whiskey.

Celebrating 10 Years of Magnus Cigar Blend Whiskey

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/204fcdb3-2fc7-4bfd-9466-b42b0134ae14/transcript

The people, companies and trends shaping the global economy.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

President Donald Trump said Iran reached out to his administration over peace negotiations, as the US began a naval blockade of the Strait of Hormuz in the war’s seventh week.Even as Trump sought to jawbone negotiations back on track, there were few signs that was taking place after weekend negotiations failed in Islamabad. Iran blamed the collapse of talks on the US and Tehran has not confirmed further discussions on Monday.

“We’ve been called this morning by the right people, the appropriate people, and they want to work a deal,” Trump said at the White House, without elaborating on who participated in the conversation.
Trump spoke hours after the US moved to cut off vessels from transiting the vital waterway to and from Iranian ports and coastal areas, which could further inflame tensions amid the global energy crisis.

The US president once again claimed that negotiations had failed due to Iran’s insistence on maintaining a nuclear program. Trump said he was “sure” Iran will eventually agree to abandon nuclear ambitions, and reiterated there would be no deal without that concession.
This episode features:
Michelle Jamrisko, Bloomberg News White House & National Security Editor
Marc Champion, Bloomberg Opinion Columnist on Hormuz Blockade Is a Throwdown the US Can't Win: Marc Champion
Michael Ventura, Co-Head of US Equity Capital Markets at RBC on Wave of $15 Billion US IPOs Runs Headlong Into War’s New Phase
Jamil Jaffer, National Security Institute Founder & Executive Director

The people, companies and trends shaping the global economy.
Watch Carol and Tim LIVE every day on YouTube:&nbsp;<a href="http://bit.ly/3vTiACF" data-destination="rte:bind">http://bit.ly/3vTiACF</a>.
President Donald Trump said Iran reached out to his administration over peace negotiations, as the US began a naval blockade of the Strait of Hormuz in the war&rsquo;s seventh week.Even as Trump sought to jawbone negotiations back on track, there were few signs that was taking place after weekend negotiations failed in Islamabad. Iran blamed the collapse of talks on the US and Tehran has not confirmed further discussions on Monday.
&ldquo;We&rsquo;ve been called this morning by the right people, the appropriate people, and they want to work a deal,&rdquo; Trump said at the White House, without elaborating on who participated in the conversation. Trump spoke hours after the US moved to cut off vessels from transiting the vital waterway to and from Iranian ports and coastal areas, which could further inflame tensions amid the global energy crisis.
The US president once again claimed that negotiations had failed due to Iran&rsquo;s insistence on maintaining a nuclear program. Trump said he was &ldquo;sure&rdquo; Iran will eventually agree to abandon nuclear ambitions, and reiterated there would be no deal without that concession. This episode features:
<ul>
<li>Michelle Jamrisko, Bloomberg News White House &amp; National Security Editor</li>
<li>Marc Champion, Bloomberg Opinion Columnist on Hormuz Blockade Is a Throwdown the US Can't Win: Marc Champion</li>
<li>Michael Ventura, Co-Head of US Equity Capital Markets at RBC on Wave of $15 Billion US IPOs Runs Headlong Into War&rsquo;s New Phase</li>
<li>Jamil Jaffer, National Security Institute Founder &amp; Executive Director</li>
</ul>

Trump Says Iran Reached Out on Deal, US Begins Hormuz Blockade

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/6e26c077-8ae3-42f3-a9ff-b42b01606cd6/transcript

Casting a Light on the Racist Practices of America’s Tax Regimes

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