Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed Al Nahyan took the helm of a $300 billion sovereign wealth fund which has become central to building the infrastructure needed to override Iran's stranglehold over the Strait of Hormuz. The fund is now likely to spend tens of billions of dollars more on new port infrastructure outside the embattled strait, people familiar with the matter said. Bloomberg's Alex Dooler reports.
OpenAI aims to raise at least $30 billion from investors in a new round of funding, according to people familiar with the matter. The company is seeking a valuation of around $1.4 trillion, not including the money raised, said the people. This comes after the artificial intelligence startup pushed back its plans for an initial public offering. Bloomberg's Neil Campling reports.
Biotech stocks in Hong Kong continue to rally amid hopes of AI-driven development. Bernstein senior analyst Rebecca Liang explains why investors are becoming more optimistic about biotech stocks than last year. She spoke on "Bloomberg: The China Show."
Crude oil flows from the Middle East are returning toward pre-war levels despite continued risks to shipping, according to separate estimates from JPMorgan & Goldman Sachs. Meanwhile the diplomatic stalemate between the US & Iran continues with Hormuz & nuclear weapons being the main sticking points despite mediation efforts from Qatar. Aniseh Bassiri Tabrizi, Associate Fellow MENA at Chatham House spoke to Bloomberg's Abeer Abu Omar on Horizons Middle East & Africa on the impasse between the two sides.
Crude oil flows from the Middle East are returning toward pre-war levels despite continued risks to shipping, according to JPMorgan Chase & Co. and Goldman Sachs Group Inc. Shipments of crude oil have rebounded to 98% of pre-war levels, while flows of products such as diesel and gasoline were at 58%, according to JPMorgan. Meanwhile, Goldman Sachs said oil exports from the Persian Gulf had recovered to 23.3 million barrels a day over the last week, in line with the 2025 average. Bloomberg's Stuart Livingstone-Wallace breaks down the situation.
Rosanna Law, Hong Kong's Secretary for Culture, Sports and Tourism, discusses efforts to diversify the city's tourism offerings and boost visitor spending ahead of China's Golden Week holiday. She speaks with Yvonne Man and David Ingles on "Bloomberg: The China Show."
MongoDB Interim President and CEO Dev Ittycheria discusses the outlook for the company after Meta Platforms tapped former CEO Chirantan "CJ" Desai to lead a new AI platform for enterprise customers. He speaks on "Bloomberg The Close."
Kevin Hochman, CEO of Brinker International, the company behind Chili's and Maggiano's Little Italy, discusses restaurants navigating high prices and a stretched consumer. He speaks to Romaine Bostick on "The Close."
Tony Sciarrino, BMO's US Commercial Bank Head, said rising interest rates have not yet caused a meaningful slowdown in client planning or borrowing. He said BMO's client roundtables show companies remain focused on growth, even though executing in a higher-rate environment requires more discipline and stronger performance than when rates were lower. He speaks to Romaine Bostick on "The Close."
Tim Adams, CEO of the Institute of International Finance discusses rising long-term interest rates and government debt sustainability. He says higher inflation has helped keep debt ratios looking stable by masking underlying vulnerabilities, but warns that as benchmark rates rise, interest expenses are set to surge. He speaks to Romaine Bostick on "The Close."
Nielsen CFO Jessica Holscott discusses how private ownership has accelerated the company's transformation, why its DoubleVerify acquisition expands Nielsen across the advertising workflow, and how Nielsen is working to create a standard measurement system for creators and digital content. Holscott and Bloomberg News Senior Editor Nina Trentmann join Businessweek Daily hosts Carol Massar and Tim Stenovec.
Alaska Airlines CEO Ben Minicucci sits down with Bloomberg's Romaine Bostick during the company's investor day to discuss the airline's foray into plush seats, new lounges in Seattle and Honolulu and international flights.
