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Fmr. Commerce Sec. Ross: China, Russia Now on Notice Amid Iran

Wilbur Ross, former US Commerce Secretary and Ross Acquisition Corp. Chairman, President and CEO, joins Bloomberg Businessweek Daily to discuss the ongoing war in Iran, saying that as a consequence, "China and Russia are on notice." Ross adds that in his view, the events in Iran so far have gone better than expected, saying that the US knocked out Iranian defense mechanisms "pretty quickly. Iran is essentially defenseless against our attack." Ross speaks with Carol Massar and Tim Stenovec.

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Bloomberg

Gulf States Weigh Military Options to Counter Iran's Escalation

Iran's biggest Gulf Arab neighbors are considering joining the US-Israeli war against Iran, and could be pushed to if Tehran attacks their critical infrastructure, according to several people with knowledge of the situation. The Gulf's most powerful states, Saudi Arabia and the United Arab Emirates, in particular, are losing patience with Iranian strikes that have already hit ports, energy facilities and airports, said these people, who requested anonymity in order to speak freely. But they would only join the war if Tehran makes good on its threats to attack vital Gulf power and water infrastructure a high threshold, the people added. Ray Takeyh, Senior Fellow for Middle East Studies at the Council on Foreign Relations, joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Tim Stenovec.

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Bloomberg

Private Credit Storm Lashes Father-Son Duo at Helm of Cliffwater

As investors in private credit funds rush for the exits, Cliffwater has become one of the biggest question marks in the $1.8 trillion industry. The worry isn't so much that private loans will go bad all at once and crush the funds where Cliffwater has invested. It's that antsy investors will keep asking for money back, prompting Cliffwater to dash for cash itself instigating a vicious circle of redemptions and markdowns. Concerns center around the $33 billion Cliffwater Corporate Lending Fund, the largest of its kind in private credit. Bloomberg News Leveraged Finance reporters Ellen DiMauro and Olivia Fishlow join Bloomberg Businessweek Daily to discuss. They speak with Carol Massar and Tim Stenovec.

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