Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. 
Bloomberg Intelligence Senior Global Banks Analyst Alison Williams explains why Morgan Stanley may keep its tilt toward wealth and asset management under CEO Ted Pick, continuing the shift made by predecessor James Gorman. Bloomberg Businessweek Editor Brad Stone provides the details of his Businessweek Magazine story US Presidential Candidates Show Little Appetite for Big Ideas. Tom McGee, President of ICSC, discusses the firm's 2024 Holiday Shopping Intentions Survey. And we Drive to the Close with Nancy Tengler, CEO and CIO at Laffer Tengler Investments. 
Hosts: Tim Stenovec and Katie Greifeld. 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>. Bloomberg Intelligence Senior Global Banks Analyst Alison Williams explains why Morgan Stanley may keep its tilt toward wealth and asset management under CEO Ted Pick, continuing the shift made by predecessor James Gorman. Bloomberg Businessweek Editor Brad Stone provides the details of his Businessweek Magazine story US Presidential Candidates Show Little Appetite for Big Ideas. Tom McGee, President of ICSC, discusses the firm's 2024 Holiday Shopping Intentions Survey. And we Drive to the Close with Nancy Tengler, CEO and CIO at Laffer Tengler Investments. Hosts: Tim Stenovec and Katie Greifeld. 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

Morgan Stanley Shift Bears Fruit, Momentum Slows

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/075c8cd6-7d7f-4a29-a740-b20b01490ca5/transcript

Featuring some of our favorite conversations of the week from our daily radio show “Bloomberg Businessweek Daily.” 
Hosted by Carol Massar and Tim Stenovec Hear the show live at 2PM ET on WBBR 1130 AM New York, Bloomberg 92.9 FM Boston, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 121, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio. 
You can also watch Bloomberg Businessweek on YouTube - just search for Bloomberg Global News. Like us at Bloomberg Radio on Facebook and follow us on Twitter @carolmassar @timsteno and @BW

Featuring some of our favorite conversations of the week from our daily radio show &ldquo;Bloomberg Businessweek Daily.&rdquo;&nbsp; Hosted by Carol Massar and Tim Stenovec Hear the show live at 2PM ET on WBBR 1130 AM New York, Bloomberg 92.9 FM Boston, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 121, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio.&nbsp; You can also watch Bloomberg Businessweek on YouTube - just search for Bloomberg Global News. Like us at Bloomberg Radio on Facebook and follow us on Twitter @carolmassar @timsteno and @BW

Bloomberg Businessweek Weekend - February 20th, 2026

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/dedccd05-b5d4-4964-bcc9-b3f700ef1736/transcript

The people, companies and trends shaping the global economy.

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

The US Supreme Court struck down President Donald Trump’s sweeping global tariffs, undercutting his signature economic policy and delivering his biggest legal defeat since he returned to the White House.
Voting 6-3, the court said Trump exceeded his authority by invoking a federal emergency-powers law to impose his “reciprocal” tariffs across the globe as well as targeted import taxes the administration says address fentanyl trafficking.

The justices didn’t address the extent to which importers are entitled to refunds, leaving it to a lower court to sort out those issues. If fully allowed, refunds could total as much as $170 billion — more than half the total revenue Trump’s tariffs have brought in.

Trump said at a press conference that he will reimpose some tariffs using alternative legal tools. The fall-back options tend to be either more cumbersome or more limited than the wide-ranging powers Trump asserted under the International Emergency Economic Powers Act.

Stocks rose on news of the decision given investors previously fretted tariffs would hurt the outlook for economic growth and company earnings. Treasuries extended declines with yields rising broadly and the rate on the benchmark 10-year note climbing to 4.10% as investors priced in the likelihood of lower tax revenues. A Bloomberg gauge of the dollar fell as much as 0.2% before erasing the drop.

Today's show features:
Bloomberg News Supreme Court Reporter Greg Stohr on Supreme Court decision to block Trump’s tariffs
Bloomberg White House Correspondent Kate Sullivan on latest from White House on tariff/Supreme Court news
Olu Sonola, Head of US Economic Research at Fitch Ratings on today's Eco data
Alan Eyre, Distinguished Diplomatic Fellow at Middle East Institute, on how Iran is viewing a potential strike by the U

The people, companies and trends shaping the global economy.
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
The US Supreme Court struck down President Donald Trump&rsquo;s sweeping global tariffs, undercutting his signature economic policy and delivering his biggest legal defeat since he returned to the White House. Voting 6-3, the court said Trump exceeded his authority by invoking a federal emergency-powers law to impose his &ldquo;reciprocal&rdquo; tariffs across the globe as well as targeted import taxes the administration says address fentanyl trafficking.
The justices didn&rsquo;t address the extent to which importers are entitled to refunds, leaving it to a lower court to sort out those issues. If fully allowed, refunds could total as much as $170 billion &mdash; more than half the total revenue Trump&rsquo;s tariffs have brought in.
Trump said at a press conference that he will reimpose some tariffs using alternative legal tools. The fall-back options tend to be either more cumbersome or more limited than the wide-ranging powers Trump asserted under the International Emergency Economic Powers Act.
Stocks rose on news of the decision given investors previously fretted tariffs would hurt the outlook for economic growth and company earnings. Treasuries extended declines with yields rising broadly and the rate on the benchmark 10-year note climbing to 4.10% as investors priced in the likelihood of lower tax revenues. A Bloomberg gauge of the dollar fell as much as 0.2% before erasing the drop.
Today's show features:
<ul>
<li>Bloomberg News Supreme Court Reporter Greg Stohr on Supreme Court decision to block Trump&rsquo;s tariffs</li>
<li>Bloomberg White House Correspondent Kate Sullivan on latest from White House on tariff/Supreme Court news</li>
<li>Olu Sonola, Head of US Economic Research at Fitch Ratings on today's Eco data</li>
<li>Alan Eyre, Distinguished Diplomatic Fellow at Middle East Institute, on how Iran is viewing a potential strike by the U</li>
</ul>

Trump’s Global Tariffs Struck Down by US Supreme Court

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/9fd56c99-0375-4b98-aeb2-b3f7017961cf/transcript

For a few brief, shining moments, the dream of Milton Friedman must have seemed closer to reality in corporate America than ever before. Donald Trump had been reelected president, and the tax cuts and regulatory loosening he’d promised were on the horizon. Whatever leverage ordinary workers had managed to scrape together in the years following the Covid-19 pandemic had mostly been quashed, and surely the incoming administration would take care of what remained. Gone, too, were the days when executives would have to evince corporate disapproval of racism or sexism or homophobia if they didn’t feel like it, as many of them had been goaded into doing during #MeToo or the Black Lives Matter movement. They could get out of talking about politics—which is not quite the same as getting out of politics, period—and get back to maximizing shareholder value however they pleased..

Bloomberg Businessweek Senior Reporter Amanda Mull discusses how corporations have largely avoided criticizing Trump, with some leaders only speaking out after extreme circumstances, such as the killing of a Minnesota man by CBP agents, and even then their statements have been muted and avoided direct condemnation.

For a few brief, shining moments, the dream of Milton Friedman must have seemed closer to reality in corporate America than ever before. Donald Trump had been reelected president, and the tax cuts and regulatory loosening he&rsquo;d promised were on the horizon. Whatever leverage ordinary workers had managed to scrape together in the years following the Covid-19 pandemic had mostly been quashed, and surely the incoming administration would take care of what remained. Gone, too, were the days when executives would have to evince corporate disapproval of racism or sexism or homophobia if they didn&rsquo;t feel like it, as many of them had been goaded into doing during <a href="#MeToo" data-auto-tag="#" data-tag-id="1001" data-destination="#MeToo">#MeToo</a> or the Black Lives Matter movement. They could get out of talking about politics&mdash;which is not quite the same as getting out of politics, period&mdash;and get back to maximizing shareholder value however they pleased..
Bloomberg Businessweek Senior Reporter Amanda Mull discusses how corporations have largely avoided criticizing Trump, with some leaders only speaking out after extreme circumstances, such as the killing of a Minnesota man by CBP agents, and even then their statements have been muted and avoided direct condemnation.

Trump Has Called Bluff on the Era of Good Corporate Citizen

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/3bb4a1c1-ffb0-4a9a-8c77-b3f601749257/transcript

Morgan Stanley Shift Bears Fruit, Momentum Slows

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