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'Taylor Swift Tax' Stirs Bad Blood With Rhode Island Homeowners

Bloomberg News Boston money and power reporter Greg Ryan said that a Rhode Island tax increase on second homes is not just impacting the wealthiest residents like Taylor Swift, but that many residents with family properties worry about the impact on their finances. The Rhode Island tax comes as some other cities and states move to tax second homes at a higher rate, like the pied-a-terre tax proposed in New York City by Mayor Zohran Mamdani.

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Bloomberg

Krugman Calls Labor Market Soft, Disturbed by Warsh's View

Nobel laureate Paul Krugman, a research professor at the City University of New York's Graduate Center, says all jobs data is "noisy" when reacting to the June US employment report. Speaking on "Bloomberg The Close," Krugman also says he is "disturbed" by Federal Reserve Chairman Kevin Warsh's point of view on monetary policy and warns that the Supreme Court's Trump v. Slaughter ruling gives too much discretionary power to President Donald Trump.

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Bloomberg

Hamburger Costs Rise 14% From Last July 4 Says Wells Fargo

Robin Wenzel, Head of Wells Fargo Agri-Food Institute joins Bloomberg Businessweek Daily to discuss their bbq report: Stay Close, Grill Big: Why Backyard BBQs Are Taking Over Summer 2026.' In the report they break down how a party of ten is expected to cost an average of $161, with ribs serving as a prime choice for protein as well as the rising cost of food for families across the US.

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Bloomberg

Need To Make Sure The US Is The Leader in AI, Not China Says Rep. Smith

Missouri Representative Jason Smith, a Republican, joined Balance of Power to discuss the year anniversary of the One Big Beautiful Bill as well as the recent news from OpenAI. When asked about the USMCA Rep. Smith said the Trump administration is saying it wants a better trading relationship through its decision not to renew its trade pact with Canada and Mexico.

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Bloomberg

Microsoft's 6,000-Person AI Push

Microsoft is building a 6,000-person AI deployment team to help businesses implement artificial intelligence.  Bloomberg' Tech co-host Ed Ludlow explains why the move mirrors the forward deployment engineer model pioneered by Palantir and adopted by AWS, and why hands-on AI implementation could be the key to unlocking enterprise ROI.

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Bloomberg

Iran's Floating Oil Hoard Swells

Bloomberg Intelligence Senior Commodity Strategist Mike McGlone says the oil fluctuations are part of a "normal cycle" A hoard of Iranian oil is building up at sea, as the Islamic Republic struggles to find buyers before the expiry of a 60-day window granted by Washington. More than 20 million barrels of Iranian crude have been idling in Asian waters for at least seven days, up nearly 18% from a week earlier, according to Kpler Ltd. Estimates for the overall volume of the country's oil on water  either in transit or stationary have ranged from 58 million to 68 million barrels since the US sanctions waiver kicked in last week, according to data from Vortexa and Bloomberg calculations.

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Bloomberg

Nuclear Reactor Powers Nvidia AI Chip in US First

Valar Atomics, a California-based nuclear startup, generated power from an advanced reactor to run an Nvidia AI chip. While just a trickle of electricity was produced, it's the first time a next-gen reactor has done so in the US. On the heels of a demonstration of Valar's Ward 250 reactor connecting to the Nvidia Blackwell chip at the company's site in Utah, Valar Atomics CEO Isaiah Taylor joins Ed Ludlow on "Bloomberg Tech."

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