Bloomberg News and Videos — Page 698

Home Depot missed sales expectations at locations open at least a year, rising 0.6% in the latest quarter, as muted housing demand and high borrowing costs limited consumer spending on improvement projects. Drew Reading of Bloomberg Intelligence has more.

Cameron Dawson, CIO at NewEdge Wealth, sees the pullback in tech stocks as "perfectly normal and perfectly prudent," but warns that "a simple correction in those names back to trend could be damaging for the overall market-cap weighted index."

US President Donald Trump said he called off a new bombardment of Iran planned for Tuesday after Persian Gulf allies wanted more time to pursue diplomacy. Tyler Kendall reports on Bloomberg Television.

Goldman Sachs International co-CEOs Anthony Gutman and Kunal Shah discuss the outlook for Europe's capital markets, risks facing the global economy and the race to build out artificial intelligence infrastructure. They speak on Bloomberg Television.

Standard Chartered said it plans to eliminate thousands of support roles over the next four years, joining the ranks of global lenders using artificial intelligence to trim headcount. "It's not about cost cutting," Chief Executive Officer Bill Winters said at a press briefing in Hong Kong. "It's about having a structurally more productive environment that is fit for future." Bloomberg's Tom Metcalf reports.

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

OECD Secretary General Mathias Cormann discusses the impact of the conflict in the Middle East on the global economy, saying the Iran war is putting "downward pressure on growth and upward pressure on inflation." He speaks to Bloomberg's Oliver Crook on the sidelines of a Group of Seven meeting in Paris.

Nicolas Bickel, chief investment officer at Edmond de Rothschild Private Bank, says higher bond yields for an elongated period could pose a risk to equities, "especially the ones that are highly indebted, even hyperscalers." Bickel speaks on Bloomberg Television.

Alphabet's Google agreed to create an artificial intelligence cloud business with Blackstone, aiming to compete with companies like CoreWeave in a burgeoning market. The project will rely on an initial $5 billion in equity capital from Blackstone, which will become the majority owner, according to a statement Monday. Bloomberg's Neil Campling explains.

Elevated bond yields dominated the Group of Seven meeting in Paris as finance ministers discussed how oil-fueled inflation risks overshadowing world economic prospects. The talks, which were meant to dwell on global imbalances, took place against the backdrop of US President Donald Trump's extended standoff with Iran which is keeping the Strait of Hormuz shut. Bloomberg's Oliver Crook reports.