Harold Butler, Citigroup Global Markets Head of Diverse Financial Institutions Group, discusses whether Black banks are still needed or is it a question of the preservation of history.
Hosts: Carol Massar and Matt Miller: Paul Brennan.  

Harold Butler, Citigroup Global Markets Head of Diverse Financial Institutions Group, discusses whether Black banks are still needed or is it a question of the preservation of history. Hosts: Carol Massar and Matt Miller: Paul Brennan.

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

The History and Effectiveness of Black Banking

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/a4ef6ace-1889-438d-aece-b01c00cb149b/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

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

Deputy Defense Secretary Stephen Feinberg wants America’s war machine to get cozier with companies. The private equity firm he co-founded, Cerberus Capital Management, is building a constellation of next-generation businesses to answer the call.

For more, Carol Massar and Tim Stenovec speak with Caleb Melby, Bloomberg News Investigative 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>. Deputy Defense Secretary Stephen Feinberg wants America&rsquo;s war machine to get cozier with companies. The private equity firm he co-founded, Cerberus Capital Management, is building a constellation of next-generation businesses to answer the call. For more, Carol Massar and Tim Stenovec speak with Caleb Melby, Bloomberg News Investigative Reporter

Cerberus Alumni Mold the Pentagon in Their Private Equity Image

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/480777f4-213b-4390-84a8-b495015948be/transcript

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

Chinese startup Moonshot AI is seeking access to more of Nvidia Corp.’s advanced Blackwell chips to train the next version of its model, Kimi K4, The Information reported, citing sources it didn’t name. The Beijing-based artificial intelligence firm trained its earlier model, Kimi K3, using Nvidia chips, Bloomberg previously reported, even though US export controls restrict the sale of advanced chips to China over security concerns.

The development is likely to exacerbate transatlantic angst about Chinese AI models closing the gap with OpenAI and Anthropic PBC. When Moonshot originally announced its Kimi K3 model, which was released publicly on Monday, that triggered a selloff in AI-related stocks.
Much like DeepSeek’s release in early 2025, the K3 debut was taken as evidence that Chinese companies can keep pace on a smaller budget and with fewer cutting-edge resources than rivals with full access to Nvidia AI accelerators.

On this episode, Carol Massar and Tim Stenovec speak with:
Mandeep Singh, Bloomberg Intelligence Global Head of Technology Research
Tejpaul Bhatia, CEO of Nebex on company’s future after SpaceX IPO // Alphabet’s GV Backs Fintech That Aims to Fuel Space Industr
Walt Lukken, CEO, FIA on 24/7 futures trading/and clearing, tokenization and customer expectations, prediction markets
Lexi Reese, CEO, lanai on AI and the labor market
Dushyant "D" Shahrawat, Bloomberg Intelligence, Crypto and Digital Assets Analyst on blockchain, stablecoins, shifting financial structures

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>. Chinese startup Moonshot AI is seeking access to more of Nvidia Corp.&rsquo;s advanced Blackwell chips to train the next version of its model, Kimi K4, The Information reported, citing sources it didn&rsquo;t name.&nbsp;The Beijing-based artificial intelligence firm trained its earlier model, Kimi K3, using Nvidia chips, Bloomberg previously reported, even though US export controls restrict the sale of advanced chips to China over security concerns. The development is likely to exacerbate transatlantic angst about Chinese AI models closing the gap with OpenAI and Anthropic PBC. When Moonshot originally announced its Kimi K3 model, which was released publicly on Monday, that triggered a selloff in AI-related stocks. Much like DeepSeek&rsquo;s release in early 2025, the K3 debut was taken as evidence that Chinese companies can keep pace on a smaller budget and with fewer cutting-edge resources than rivals with full access to Nvidia AI accelerators. On this episode, Carol Massar and Tim Stenovec speak with:
<ul>
<li>Mandeep Singh, Bloomberg Intelligence Global Head of Technology Research</li>
<li>Tejpaul Bhatia, CEO of Nebex on company&rsquo;s future after SpaceX IPO // Alphabet&rsquo;s GV Backs Fintech That Aims to Fuel Space Industr</li>
<li>Walt Lukken, CEO, FIA on 24/7 futures trading/and clearing, tokenization and customer expectations, prediction markets</li>
<li>Lexi Reese, CEO, lanai on AI and the labor market</li>
<li>Dushyant "D" Shahrawat, Bloomberg Intelligence, Crypto and Digital Assets Analyst on blockchain, stablecoins, shifting financial structures</li>
</ul>

Chip Stock Rout Deepens on AI Debt Jitters, China Competition

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/29aa4df3-7265-4d82-b8d1-b4950155ae46/transcript

The History and Effectiveness of Black Banking

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