This week's Cover Story for Bloomberg Businessweek:

"Stablecoin Tether Grows Into Crypto World’s $69 Billion Mystery"

Read by Bloomberg's Mark Leydorf.

A wild search for the U.S. dollars supposedly backing the stablecoin at the center of the global cryptocurrency trade—and in the crosshairs of U.S. regulators and prosecutors.

This week's Cover Story for Bloomberg Businessweek:"Stablecoin Tether Grows Into Crypto World’s $69 Billion Mystery"Read by Bloomberg's Mark Leydorf.A wild search for the U.S. dollars supposedly backing the stablecoin at the center of the global cryptocurrency trade—and in the crosshairs of U.S. regulators and prosecutors.

Listen for reporting from the magazine that helps global leaders stay ahead. Hosts Carol Massar and Tim Stenovec cover the changing world of money, power and technology. 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 cover the changing world of money, power and technology.&nbsp;You can watch and listen to Businessweek LIVE on YouTube, weekdays from 2PM to 5PM ET:&nbsp;<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

Cover Story: The Crypto World’s $69 Billion Mystery

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/20d33e7a-89de-42bd-9033-ae2b002322f9/transcript

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

Amazon.com reported cloud-computing revenue that accelerated for the fifth straight quarter, easing investors’ concerns that the company won’t produce a return on its spending to meet booming demand for artificial intelligence.Revenue jumped 37% to $42.2 billion at Amazon Web Services, which generates about a fifth of the company’s revenue and most of its operating profit, Amazon said Thursday in a statement. It was the fastest pace of growth since the fourth quarter of 2021. Analysts, on average, forecast sales of $40.6 billion, according to data compiled by Bloomberg.

Like its Big Tech peers, Amazon is spending heavily on data centers and chips in an effort to take advantage of rising demand for AI and cloud-computing services. The company reported spending more than $53 billion on property and equipment, including proceeds from some sales, in the period ended June 30.

Meanwhile, Apple Inc. sales grew more slowly than analysts anticipated in China and its services business last quarter, sparking concerns about two key markets for the iPhone maker.Though total revenue topped estimates, the China sales amounted to $18.8 billion in the fiscal third quarter, well short of the $19.6 billion estimated by analysts. Revenue from services was $30.7 billion, compared with a $31.4 billion projection.

On this episode, Carol Massar and Tim Stenovec speak with:
Poonam Goyal, Bloomberg Intelligence Senior Analyst for E-Commerce and Athleisure
Anurag Rana, Bloomberg Intelligence Senior Technology Analyst
Ed Ludlow, Bloomberg Tech Host 
Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech
Dani Burger, Bloomberg 'Open Interest' Co-Host, with Jersey Mike's CEO Charlie Morrison on JMKE IPO
Stuart Paul, Bloomberg Economics US & Canada Economist AND Ira Jersey, Bloomberg Intelligence Chief US Interest Rate Strategist on Wall Street's message to Kevin Warsh

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>.
Amazon.com reported cloud-computing revenue that accelerated for the fifth straight quarter, easing investors&rsquo; concerns that the company won&rsquo;t produce a return on its spending to meet booming demand for artificial intelligence.Revenue jumped 37% to $42.2 billion at Amazon Web Services, which generates about a fifth of the company&rsquo;s revenue and most of its operating profit, Amazon said Thursday in a statement. It was the fastest pace of growth since the fourth quarter of 2021. Analysts, on average, forecast sales of $40.6 billion, according to data compiled by Bloomberg.
Like its Big Tech peers, Amazon is spending heavily on data centers and chips in an effort to take advantage of rising demand for AI and cloud-computing services. The company reported spending more than $53 billion on property and equipment, including proceeds from some sales, in the period ended June 30.
Meanwhile, Apple Inc. sales grew more slowly than analysts anticipated in China and its services business last quarter, sparking concerns about two key markets for the iPhone maker.Though total revenue topped estimates, the China sales amounted to $18.8 billion in the fiscal third quarter, well short of the $19.6 billion estimated by analysts. Revenue from services was $30.7 billion, compared with a $31.4 billion projection.
On this episode, Carol Massar and Tim Stenovec speak with:
<ul>
<li>Poonam Goyal, Bloomberg Intelligence Senior Analyst for E-Commerce and Athleisure</li>
<li>Anurag Rana, Bloomberg Intelligence Senior Technology Analyst</li>
<li>Ed Ludlow, Bloomberg Tech Host&nbsp;</li>
<li>Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech</li>
<li>Dani Burger, Bloomberg 'Open Interest' Co-Host, with Jersey Mike's CEO Charlie Morrison on JMKE IPO</li>
<li>Stuart Paul, Bloomberg Economics US &amp; Canada Economist AND Ira Jersey, Bloomberg Intelligence Chief US Interest Rate Strategist on Wall Street's message to Kevin Warsh</li>
</ul>

Amazon Reports Fifth Straight Quarter of Cloud Sales Growth & Apple Sales Slow Down

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/8e676505-4566-4da4-a76d-b49701654574/transcript

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

Mehmet Oz has been loyal to Health and Human Services Secretary Robert F. Kennedy Jr. while cultivating a close relationship with President Donald Trump and a reputation as a serious operator in the administration. Oz has been playing a significant role in the administration, with access to the president and involvement in various policy discussions, leading to speculation that he could be the heir apparent to lead the health department if Kennedy departs. Despite potential challenges and criticisms, Oz has earned respect from some outside the administration, including major healthcare companies and industry groups, and has been working to implement the administration's health policies and reduce healthcare costs.

For more on their partnership, Carol Massar and Tim Stenovec spoke with Rachel Cohrs Zhang, Bloomberg News Health Policy Reporter

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>. Mehmet Oz has been loyal to Health and Human Services Secretary Robert F. Kennedy Jr. while cultivating a close relationship with President Donald Trump and a reputation as a serious operator in the administration. Oz has been playing a significant role in the administration, with access to the president and involvement in various policy discussions, leading to speculation that he could be the heir apparent to lead the health department if Kennedy departs. Despite potential challenges and criticisms, Oz has earned respect from some outside the administration, including major healthcare companies and industry groups, and has been working to implement the administration's health policies and reduce healthcare costs. For more on their partnership, Carol Massar and Tim Stenovec spoke with Rachel Cohrs Zhang, Bloomberg News Health Policy Reporter

From TV Doctor to Power Broker: Dr. Oz Thrives on Trump’s Team

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/c9177370-4887-4187-8794-b496014ca39f/transcript

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

Meta Platforms gave a disappointing current-quarter revenue forecast, intensifying investor concerns about the company’s unprecedented spending on artificial intelligence.
The social media giant said third-quarter revenue will be $61 billion to $64 billion, with the midline of that range below the average analyst estimate of $63.2 billion, according to data compiled by Bloomberg. Meta relies on its advertising business to finance its expensive bets on AI products and infrastructure, including data centers and AI-powered glasses.

Investors have questioned how Meta will ultimately recoup its AI investments, and balked earlier this year when Chief Executive Officer Mark Zuckerberg increased projected spending to as much as $145 billion. Meta on Wednesday narrowed its full-year capital expenditure forecast to $130 billion to $145 billion, slightly lifting the bottom end from a previous projection of $125 billion to $145 billion.

On this episode, Carol Massar and Tim Stenovec speak with:
Ed Ludlow, Bloomberg Tech Host
Mandeep Singh, Bloomberg Intelligence Global Head of Technology Research
Kurt Wagner, Bloomberg News Senior Technology Reporter

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>. Meta Platforms gave a disappointing current-quarter revenue forecast, intensifying investor concerns about the company&rsquo;s unprecedented spending on artificial intelligence. The social media giant said third-quarter revenue will be $61 billion to $64 billion, with the midline of that range below the average analyst estimate of $63.2 billion, according to data compiled by Bloomberg. Meta relies on its advertising business to finance its expensive bets on AI products and infrastructure, including data centers and AI-powered glasses. Investors have questioned how Meta will ultimately recoup its AI investments, and balked earlier this year when Chief Executive Officer Mark Zuckerberg increased projected spending to as much as $145 billion. Meta on Wednesday narrowed its full-year capital expenditure forecast to $130 billion to $145 billion, slightly lifting the bottom end from a previous projection of $125 billion to $145 billion. On this episode, Carol Massar and Tim Stenovec speak with:
<ul>
<li>Ed Ludlow, Bloomberg Tech Host</li>
<li>Mandeep Singh, Bloomberg Intelligence Global Head of Technology Research</li>
<li>Kurt Wagner, Bloomberg News Senior Technology Reporter</li>
</ul>

Meta Delivers Lackluster Forecast & Microsoft's Cloud Unit Grows

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/be6d373b-4024-427a-ba66-b496015dfe86/transcript

Cover Story: The Crypto World’s $69 Billion Mystery

In 1 playlist(s)

Bloomberg Businessweek

Social links

Follow podcast

Recent clips