The NBA stripped the Los Angeles Clippers of five first-round draft picks and suspended owner Steve Ballmer for one year after finding the team had circumvented salary cap rules by facilitating sponsorship agreements between outside companies and star player Kawhi Leonard. Randall Williams reports on "Bloomberg The Close."
Shaquille O'Neal, 15-time NBA All-Star, joins Romaine Bostick on 'The Close' to discuss his 'Credit Tip Off Tour' with Credit One Bank to educate students about building credit. He also gets into his latest venture as a DJ.
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Sally Bakewell, Lisa Mateo, and Tim Stenovec.
Aurora Cannabis CEO Miguel Martin called a takeover bid from cannabis company Curaleaf 'inadequate' and said that it was not in shareholder's best interest after the company's board unanimously rejected the offer. Martin said that he is not against offers on principle and would recommend going with another bid if it had the right value and structure for shareholders.
Anthropic's IPO is casting a long shadow over companies' US listing plans, as they try to find room for their deals to grab attention after the Sept. 7 Labor Day holiday. Scarlet Fu reports on Bloomberg Deals.
House Budget Chairman Jodey Arrington said 'Republicans and Democrats are going to have to come together' on a debt reduction plan to counteract the demographic challenges of increasing Social Security and Medicare beneficiaries. Arrington also discussed the pushback against AI data centers around the country, saying that the US has win the AI race but there should be guardrails on drawing on energy and water resources to do so.
Bloomberg's Randall Williams discusses billionaire Stan Kroenke expanding his sports empire with the addition of the Los Angeles Angels. Kroenke Sports & Entertainment bought a controlling stake with a valuation at $4 billion.
The outlook for the economy was "positive," according to the Federal Reserve's Beige Book survey, though sentiment was mixed across sectors amid uncertainty about energy prices and geopolitics. Michael McKee reports.
Bloomberg's Allison McNeely joins Dani Burger on "Bloomberg Deals." KKR is set to reap a $3.3 billion windfall from its deal to sell USI Insurance Services to Aonfor $17 billion, a significant exit for a unit that's invested its balance sheet in long-term private equity bets.
Bloomberg's Michelle Davis joins Dani Burger on "Bloomberg Deals." Eli Lilly plans to buy Merida Biosciences Inc. for as much as $2.88 billion in cash to expand in autoimmune and allergic diseases, part of an effort to build beyond the weight-loss and diabetes markets that made it the largest pharmaceutical company in the world.
Bloomberg's Liana Baker joins Dani Burger on "Bloomberg Deals." S&P Global is considering spinning out its flagship data and research platform Capital IQ Pro, in a move that could create a standalone firm worth billions of dollars.
OpenAI Chief Executive Officer Sam Altman says artificial intelligence will be the greatest boom in business the world has ever seen. He speaks to US Commerce Secretary Howard Lutnick at a tech event in North Carolina hosted by the US for G20 members.
