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How Americans Are Handling the Cost of College

The costs of a four-year college degree continue to rise, with an average of about $60K for private and $26k for public university. As student loan defaults topped 9 million in June, parents and students are looking at every option to make college more affordable. Bloomberg's Scarlet Fu went to the campus of SUNY Purchase in New York's Westchester County to speak with students, parents and the University's President to see how they are thinking about money.

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Bloomberg
Financial

How AI Is Eroding the First Rung of the Tech Job Ladder

The US information sector shed roughly 23,000 jobs in August, offering another potential signal of how AI is reshaping the labor market. Northeastern University Professor Alicia Modestino discusses why tech may be the "canary in the coal mine," with her research showing a decline in junior versus senior software developer vacancies since ChatGPT's release. She also discusses why employers are demanding more experience, judgment and human-centric skills from entry-level workers. She joins Bloomberg's Lisa Mateo on "Bloomberg Tech."

Read more: How AI Is Eroding the First Rung of the Tech Job Ladder
Bloomberg
Financial

Anthropic's $15 Billion Credit Line Sets Stage for IPO

Anthropic's anticipated IPO could kick off a busy fall for tech listings after SpaceX dominated the market this summer. Rainmaker Securities co-founder and Managing Director Greg Martin discusses why Anthropic's planned $15 billion revolving credit facility strengthens its position ahead of a potential offering. He also shares how its rapid growth could support a valuation above SpaceX's at IPO and why a successful debut could "open the floodgates" for companies including Oura, neoclouds and other long-awaited tech listings. He joins Bloomberg's Lisa Mateo on "Bloomberg Tech."

Read more: Anthropic's $15 Billion Credit Line Sets Stage for IPO
Bloomberg
Financial

Anthropic Set to Expand Pre-IPO Credit Facility

Anthropic PBC is set to finalize an expansion of its revolving credit facility to $15 billion, according to people familiar with the matter, clearing a hurdle before the artificial intelligence firm's public filing for its highly anticipated IPO. Morgan Stanley is leading the process, the people said. Goldman Sachs Group Inc. and JPMorgan Chase & Co. also have prominent roles on the facility, along with Citigroup Inc., they said. The four lenders are also leading the IPO, Bloomberg News has reported. The Claude chatbot maker is seeking to raise as much as SpaceX or more in the initial public offering, people familiar with the preparations have said. Companies typically finalize the revolver before they notify banks of their formal roles in a listing. For more, we speak with Bailey Lipschultz, Senior Equities Reporter for Bloomberg News.

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Bloomberg
Financial

Lululemon Drops to Eight-Year Low With New CEO Inheriting a Mess

Lululemon Athletica Inc. lowered its full-year outlook for a second straight quarter, reflecting the deepening challenges incoming Chief Executive Officer Heidi O'Neill will face when she takes over the top job next week.  Sales are now projected to be in a range of $10.35 billion to $10.5 billion in the current fiscal year that ends in early 2027. That's down from June's annual forecast, which was itself reduced from the previous view. The company also trimmed its outlook for earnings per share after reporting its first decline in comparable sales since the pandemic when they temporarily stopped reporting the measure. We get reaction from Poonam Goyal, Senior US Retail Analyst for Bloomberg Intelligence.

Read more: Lululemon Drops to Eight-Year Low With New CEO Inheriting a Mess
Bloomberg
Financial

US Retail Diesel Hits Record

US retail diesel rose to a record, threatening to further spike energy-driven inflation as wars in Iran and Russia roil the market. The widely used fuel climbed to a nationwide average of $5.85 a gallon at the pump on Thursday, according to the American Automobile Association. Ed Hirs, Energy Fellow at the University of Houston, discusses the record diesel prices and energy outlook ahead of the midterms.

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