Bloomberg News Senior Finance Reporter Sri Natarajan breaks down Goldman Sachs reporting second-quarter earnings that fell 58% on an investment-banking slump, real estate markdowns and a goodwill writedown in the consumer business. Dan Morgan, Senior Portfolio Manager at Synovus Trust, shares his insight on Netflix and IBM earnings. David Trainer, CEO of New Constructs, hits Tesla earnings. Ben Walter, CEO of Chase Business Banking, discusses small business owner sentiment. And we Drive to the Close with Bloomberg News Markets Reporter Abigail Doolittle. Hosts: Carol Massar and Matt Miller. Producer: Paul Brennan. 

Bloomberg News Senior Finance Reporter Sri Natarajan breaks down Goldman Sachs reporting second-quarter earnings that fell 58% on an investment-banking slump, real estate markdowns and a goodwill writedown in the consumer business. Dan Morgan, Senior Portfolio Manager at Synovus Trust, shares his insight on Netflix and IBM earnings. David Trainer, CEO of New Constructs, hits Tesla earnings. Ben Walter, CEO of Chase Business Banking, discusses small business owner sentiment. And we Drive to the Close with Bloomberg News Markets Reporter Abigail Doolittle. Hosts: Carol Massar and Matt Miller. 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

Goldman Profit Tumbles on Real Estate Hits, Deals Slump

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/50095afb-e626-4f36-874a-b044015aef80/transcript

The people, companies and trends shaping the global economy.

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

Energy markets whipsawed for a second consecutive day as investors raced to interpret rapidly shifting comments from the Trump administration over the war in Iran.

Oil prices plummeted after Energy Secretary Chris Wright erroneously posted — and then deleted — a message that the US Navy had escorted an oil tanker through the Strait of Hormuz, only for White House Press Secretary Karoline Leavitt to subsequently concede no such operation had occurred. But, the spokeswoman said, the US military was “drawing up additional options” to address any attempt by Iran to constrain trade through the vital artery.

Later Tuesday afternoon, President Donald Trump posted his own flurry of messages on social media. First, Trump insisted the US had “no reports” of mines being placed, but then urged Iranian forces to remove any explosives they may have laid.

Next, Trump said the US was “using the same Technology and Missile capabilities deployed against Drug Traffickers” to target mining ships. Minutes later, the president reported that the US had “hit, and completely destroyed, 10 inactive mine laying boats” and promised “more to follow.”
Today's show features:
Kevin Gordon, Schwab Head of Macro Research & Strategy as markets digest a flurry of geopolitical headlines
Bloomberg Balance of Power Co-host Joe Mathieu as the White House says the US Navy has not escorted a tanker through the Strait
Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech on Apple's new $599 MacBook Neo
Anurag Rana, Bloomberg Intelligence Senior Technology Analyst on Oracle's blockbuster earnings report

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">http://bit.ly/3vTiACF</a>.
Energy markets whipsawed for a second consecutive day as investors raced to interpret rapidly shifting comments from the Trump administration over the war in Iran.
Oil prices plummeted after Energy Secretary Chris Wright erroneously posted &mdash; and then deleted &mdash; a message that the US Navy had escorted an oil tanker through the Strait of Hormuz, only for White House Press Secretary Karoline Leavitt to subsequently concede no such operation had occurred. But, the spokeswoman said, the US military was &ldquo;drawing up additional options&rdquo; to address any attempt by Iran to constrain trade through the vital artery.
Later Tuesday afternoon, President Donald Trump posted his own flurry of messages on social media. First, Trump insisted the US had &ldquo;no reports&rdquo; of mines being placed, but then urged Iranian forces to remove any explosives they may have laid.
Next, Trump said the US was &ldquo;using the same Technology and Missile capabilities deployed against Drug Traffickers&rdquo; to target mining ships. Minutes later, the president reported that the US had &ldquo;hit, and completely destroyed, 10 inactive mine laying boats&rdquo; and promised &ldquo;more to follow.&rdquo; Today's show features:
<ul>
<li>Kevin Gordon, Schwab Head of Macro Research &amp; Strategy as markets digest a flurry of geopolitical headlines</li>
<li>Bloomberg Balance of Power Co-host Joe Mathieu as the White House says the US Navy has not escorted a tanker through the Strait</li>
<li>Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech on Apple's new $599 MacBook Neo</li>
<li>Anurag Rana, Bloomberg Intelligence Senior Technology Analyst on Oracle's blockbuster earnings report</li>
</ul>

Admin's Mixed Messages on Iran Stoke More Volatility

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/ec50702b-708a-4828-a01b-b409016d921a/transcript

As fans of FX’s new limited series, Love Story: John F. Kennedy Jr. & Carolyn Bessette search for real-life versions of the characters' wardrobes, they're running into roadblocks. According to Google Trends, searches for “Calvin Klein 90s” shot up 850% in the US the week Love Story premiered. When customers found more fleece joggers and graphic tees on its website than the sleek basics they were looking for, some turned to secondhand sellers. PVH Corp., the apparel conglomerate that bought the Calvin Klein brand from the designer of the same name in 2003, declined to comment on its CBK strategy—or lack thereof—citing a quiet period ahead of its next earnings release. 

Dina Katgara, Bloomberg News Consumer Reporter, joins Bloomberg Businessweek Daily to discuss. She speaks with Carol Massar and Tim Stenovec.

As fans of FX&rsquo;s new limited series, Love Story: John F. Kennedy Jr. &amp; Carolyn Bessette search for real-life versions of the characters' wardrobes, they're running into roadblocks. According to Google Trends, searches for &ldquo;Calvin Klein 90s&rdquo; shot up 850% in the US the week Love Story premiered. When customers found more fleece joggers and graphic tees on its website than the sleek basics they were looking for, some turned to secondhand sellers. PVH Corp., the apparel conglomerate that bought the Calvin Klein brand from the designer of the same name in 2003, declined to comment on its CBK strategy&mdash;or lack thereof&mdash;citing a quiet period ahead of its next earnings release. Dina Katgara, Bloomberg News Consumer Reporter, joins Bloomberg Businessweek Daily to discuss. She speaks with Carol Massar and Tim Stenovec.

Calvin Klein Is Missing Its Carolyn Bessette Kennedy Moment  

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/742f0ace-b641-4f1a-bcc5-b408015e4350/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 made an emphatic declaration on Friday about his intentions in the widening Middle East war: He’d accept no deal with Iran other than “unconditional surrender” and pledged the US “will work tirelessly” to restore the country’s economy if a new leader is installed whom he deems acceptable.Nearly a week in, the military campaign has sent oil prices soaring and roiled equity and bond markets across the globe. The online missive showed the president — who campaigned as a pro-peace candidate — is digging in on policies that threaten to tear his fragile political coalition apart.

The revolt of “Make America Great Again” influencers including Tucker Carlson, Megyn Kelly and Marjorie Taylor Greene, along with several GOP politicians, has produced a chorus of betrayal. “No one should have to die for a foreign country,” Kelly said on her radio show this week.
Their backlash comes after Trump has already tested his base’s loyalty with an earlier strike on Iran and an operation in Venezuela to capture Nicolas Maduro that represent the kind of military adventurism he’d built his political career on rejecting, as well as his handling of the Epstein files, which frustrated some MAGA devotees who expected the swift and full transparency he promised.

At the same time, the Iran campaign risks alienating the more-casual Trump voters who cast a ballot for him hoping he’d shore up the economy, and see Middle East conflict as a distraction — or even a hindrance. Gasoline prices this week rose to their highest level at any time during a Trump presidency.

Today's show features:
Nancy Cook, Bloomberg News Senior National Economic Correspondent on Big Take: ‘MAGA Is Split': Trump Digs In on Iran War, Divides Loyalists
Jennifer Welch, Bloomberg Economics Chief Geoeconomics Analyst on ongoing impact of Iran/Hormuz on gas prices, inflation/stagflation, energy and other commodities prices
Madison Muller, Bloomberg News Health Reporter on Novo Drops Hims & Hers Lawsuit and Will Sell Wegovy on Site, FDA Plans to Loosen Testing Rules to Boost Biosimilar Drugs
Bloomberg News White House Editor Jordan Fabian on President Trump Says War with Iran is ‘Very Complete'

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>. President Donald Trump made an emphatic declaration on Friday about his intentions in the widening Middle East war: He&rsquo;d accept no deal with Iran other than &ldquo;unconditional surrender&rdquo; and pledged the US &ldquo;will work tirelessly&rdquo; to restore the country&rsquo;s economy if a new leader is installed whom he deems acceptable.Nearly a week in, the military campaign has sent oil prices soaring and roiled equity and bond markets across the globe. The online missive showed the president &mdash; who campaigned as a pro-peace candidate &mdash; is digging in on policies that threaten to tear his fragile political coalition apart. The revolt of &ldquo;Make America Great Again&rdquo; influencers including Tucker Carlson, Megyn Kelly and Marjorie Taylor Greene, along with several GOP politicians, has produced a chorus of betrayal. &ldquo;No one should have to die for a foreign country,&rdquo; Kelly said on her radio show this week. Their backlash comes after Trump has already tested his base&rsquo;s loyalty with an earlier strike on Iran and an operation in Venezuela to capture Nicolas Maduro that represent the kind of military adventurism he&rsquo;d built his political career on rejecting, as well as his handling of the Epstein files, which frustrated some MAGA devotees who expected the swift and full transparency he promised. At the same time, the Iran campaign risks alienating the more-casual Trump voters who cast a ballot for him hoping he&rsquo;d shore up the economy, and see Middle East conflict as a distraction &mdash; or even a hindrance. Gasoline prices this week rose to their highest level at any time during a Trump presidency. Today's show features:
<ul>
<li>Nancy Cook, Bloomberg News Senior National Economic Correspondent on Big Take: &lsquo;MAGA Is Split': Trump Digs In on Iran War, Divides Loyalists</li>
<li>Jennifer Welch, Bloomberg Economics Chief Geoeconomics Analyst on ongoing impact of Iran/Hormuz on gas prices, inflation/stagflation, energy and other commodities prices</li>
<li>Madison Muller, Bloomberg News Health Reporter on Novo Drops Hims &amp; Hers Lawsuit and Will Sell Wegovy on Site, FDA Plans to Loosen Testing Rules to Boost Biosimilar Drugs</li>
<li>Bloomberg News White House Editor Jordan Fabian on President Trump Says War with Iran is &lsquo;Very Complete'</li>
</ul>

‘MAGA Is Split': Trump Digs In on Iran War, Divides Loyalists

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/464ace67-691e-4220-9403-b408015d2f49/transcript

Goldman Profit Tumbles on Real Estate Hits, Deals Slump

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