Bloomberg News and Videos — Page 288

Royal Bank of Canada Chief Executive Officer Dave McKay says it's "unbelievable" how fast artificial intelligence is training staffers. He says the technology is also making workers more efficient. He spoke to Lisa Abramowicz on Tuesday at a Bloomberg Newsmakers event in Toronto.

Marc Pinto, the Global Head of Private Credit at Moody's Ratings, joins Bloomberg Open Interest to explain why private credit is entering a pivotal phase. While AI infrastructure spending is creating huge lending opportunities, cracks are beginning to emerge in software-focused portfolios. Pinto warns that the real test comes in 2028, when a wave of refinancing could expose which borrowers survive and which don't.

French Foreign Ministry spokesman Pascal Confavreux speaks with Bloomberg's Tyler Kendall on the sidelines of the G7 gathering in Evian, France. He discusses the deal with Iran, including the reopening of the Strait of Hormuz, as well as tolls concerns and incentives. He also addresses technology, AI, and France's digital services tax.

Royal Bank of Canada CEO David McKay says there is a risk-on attitude in the market right now, driven by the push for AI and computing capacity. He speaks with Lisa Abramowicz at a Bloomberg Newsmakers event.

President Donald Trump says the peace deal with Iran includes "99.9% of what he wants." Speaking at the Group of Seven summit in France, Trump said the deal will prevent Iran from ever having a nuclear weapon. The deal is set to be signed on Friday in Switzerland.

On this episode of Stock Movers with Alexis Christoforous: - Yum! Brands (YUM) agreed to sell its struggling Pizza Hut chain for $2.7 billion to a private equity firm and its China business. LongRange Capital will acquire Pizza Hut ex-China for $1.5 billion, Yum said in a statement Tuesday. Yum China Holdings Inc. will buy the rest of the business for $1.2 billion. The transactions are expected to close in the third quarter. - Dave & Buster's (PLAY) shares tumble after the operator of restaurant and entertainment facilities reported comparable sales for the first quarter that missed the average analyst estimate. Research firm Benchmark downgraded the stock, citing a lack of confidence that same-store sales will stabilize/eventually turn positive this year. - Robinhood Markets (HOOD) shares are up after it said it is reducing its full-time employee workforce by 10%, and also closing a small number of open roles.

Yum! Brands is selling the chain to private equity firm LongRange Capital. The deal is expected to close in the third quarter. Yum! will now focus more on its better-performing Taco Bell and KFC chains. Michael Halen of Bloomberg Intelligence is on "Bloomberg Open Interest."

SpaceX will take over Cursor in a deal that values the artificial intelligence coding startup at $60 billion, as Elon Musk aims to catch up with rivals on coding tools. The deal is expected to close in the third quarter. Ed Ludlow reports on Bloomberg Television.

Former Federal Reserve Governor Betsy Duke says Federal Reserve Chair Kevin Warsh remains a hawk and believes his first meeting will be "all about communications."

Torsten Slok, chief economist at Apollo, looks at potential changes to Federal Reserve communication under Chair Kevin Warsh.