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Lucid is working with restructuring advisers to turn around its struggling business, according to people familiar with the matter, sending the electric-vehicle maker's shares tumbling. Consultant AlixPartners has been engaged to examine all aspects of Lucid's operations, according to the people, who were not authorized to discuss the matter. The carmaker is aiming to optimize its business, cut costs and ensure that the rollout of a new mid-size vehicle is successful, the people said. Bloomberg's Ed Ludlow joins to discuss.

President Donald Trump backed away from his plan to impose a 20% charge on cargo shipments through the Strait of Hormuz after US allies in the Gulf urged him to drop it. Bloomberg Economic's Jennifer Welch joins to discuss.

Rep. Troy Downing, Republican Congressman from Montana joined Balance of Power to discuss the recent news from the Middle East as well as the Kevin Warsh's recent hearing on Capitol Hill. He also discussed the housing bill that became law without Trump's signature after the president soured on the package of affordability provisions.

President Donald Trump backed away from his plan to impose a 20% charge on cargo shipments through the Strait of Hormuz, just one day after rolling out the fee, after US allies in the Gulf urged him to drop it. Trump spoke Tuesday in the Oval Office.

Aasem Khalil, who heads the Dallas office of Goldman Sachs Group Inc., discusses why the bank chose the city's downtown area for its new campus and how it hopes to expand the number of partners in Texas. He speaks with Bloomberg's Julie Fine in Dallas.

As artificial intelligence, war and the specter of inflation drive investors' exuberance and worries, Wall Street's traders have cracked the code to come out on top every single time. Five of the biggest US banks reported second-quarter results Tuesday with their divisions handling equities surpassing one record after another. JPMorgan Chase & Co. reeled in $6 billion from stocks alone, a personal best, while Goldman Sachs Group Inc. hauled in $7.42 billion, a new industry high. Underscoring the trend, a 45% jump at Citigroup Inc. was seen by shareholders as too shallow. For more, we speak with Herman Chan, Senior US Banks Analyst for Bloomberg Intelligence.

Federal Reserve Chairman Kevin Warsh says he is focused on the central bank's 2% inflation target and price stability during testimony before the House Financial Services Committee.

Federal Reserve Chairman Kevin Warsh says the recent CPI data doesn't make him think it's "mission accomplished" or "everything is swell" during testimony before the House Financial Services Committee.

"We want to be in a position where we're not bailing out anybody, including crypto," Federal Reserve Chairman Kevin Warsh says during testimony before the House Financial Services Committee.

Federal Reserve Chairman Kevin Warsh gives his opening remarks before questioning from members of the House Financial Services Committee.

Federal Reserve Chairman Kevin Warsh honors the central bank's independence when asked by US Representative Nydia M. Velázquez (D-NY) if he works for President Donald Trump during testimony at the House Financial Services Committee.

International Business Machines Corp. shares slid by the most in at least 58 years after the company reported preliminary second-quarter sales that fell short of expectations, attributing the miss to customers shifting their spending to chips and servers amid AI-fueled shortages.  Anurag Rana, Bloomberg Intelligence Senior Tech Analyst, discusses the miss and what it means for IBM as well as the broader tech sector.