Crypto Financial

Blair Jacobson, co-president of Ares Management, discusses the outlook for the software industry which came under pressure earlier this year as investors weighed the impact of artificial intelligence on the sector. "The general view was all software will get eaten by AI," Jacobson tells Bloomberg's Guy Johnson from the sidelines of the IPEM conference in Paris. "Seven, eight, nine months later, we've actually seen a bifurcation in that market," he adds.

Blair Jacobson, co-president of Ares Management, discusses the outlook for the software industry which came under pressure earlier this year as investors weighed the impact of artificial intelligence on the sector. "The general view was all software will get eaten by AI," Jacobson tells Bloomberg's Guy Johnson from the sidelines of the IPEM conference in Paris. "Seven, eight, nine months later, we've actually seen a bifurcation in that market," he adds.

Spanish Foreign Minister José Manuel Albares discusses the late-July incident that saw roughly 80,000 people illegally enter Ceuta, Spain's exclave in North Africa, from Morocco. "We are focused on giving back normality," Albares tells Bloomberg Television. "We are totally in favor of understanding everything," he says, stressing that there were several ongoing probes.

Spanish Foreign Minister José Manuel Albares discusses the late-July incident that saw roughly 80,000 people illegally enter Ceuta, Spain's exclave in North Africa, from Morocco. "We are focused on giving back normality," Albares tells Bloomberg Television. "We are totally in favor of understanding everything," he says, stressing that there were several ongoing probes.

Adam Posen, president of the Peterson Institute for International Economics, discusses Treasury Secretary Scott Bessent's challenge to traders to test his resolve on boosting the yen. "It's a bad policy," Posen tells Bloomberg Television. "As Secretary [Robert] Rubin used to say, and everyone up until now used to say: 'A strong dollar is in the US interest.'"

Amazon.com Inc. kicked off the sale of its debut sterling bonds in a four-part deal, as hyperscalers continue to turn to global debt markets to fuel the artificial intelligence arms race. Uber Technologies Inc. has started offering its debut euro bonds, with a five-part deal that is set to price later on Wednesday. Bloomberg's Anna Edwards and Tom Mackenzie have the details.

Brent oil hit $100 a barrel for the first time since July as attacks between the US and Iran and a recovery in Chinese oil buying propelled the global crude benchmark higher. US forces destroyed five Iranian tankers carrying crude oil on Tuesday in response to two attempts to hit a US Navy warship with ballistic missiles in as many days, Central Command said. Bloomberg's Stephen Stapczynski reports.

Dubai-based Majid Al Futtaim, which owns shopping malls, residential communities and retail businesses, reported record first-half EBITDA of 2.5 billion dirhams ($681 million). CEO Ahmed Galal Ismail told Bloomberg's Abeer Abu Omar that the conglomerate is navigating a "challenging operating environment," particularly in hospitality and non-food retail.

Anna Edwards, Tom Mackenzie and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade."

Apollo Asset Management co-President Scott Kleinman discusses the US economy, the rising cost of capital and why he sees valuation issues for legacy portfolio companies impacting returns. He speaks with Bloomberg's Guy Johnson from the sidelines of the IPEM conference in Paris.

Tikehau Capital co-founder Antoine Flamarion says there are now "less transactions" in the private equity sphere. He adds that secondary markets are "a massive trend." He speaks with Bloomberg's Guy Johnson from the sidelines of the IPEM Global event in Paris.

Meta unveiled a new artificial intelligence agent designed to carry out tasks on a user's behalf. Meta said the tool, called Muse, will assist with online shopping, buying movie tickets and scheduling appointments. Bloomberg Intelligence's Matthew Bloxham breaks down the situation.