Meta Platforms has reached a $16.7 billion settlement in a high-profile case concerning harm caused to teens through its social media platforms. The settlement amount is significantly lower than Meta's worst-case scenario estimate of $1.4 trillion, which represented the maximum potential penalties if all accusations had been upheld at their severest levels. Ed Ludlow reports on "Bloomberg Open Interest."
Stephanie Roth, chief economist at Wolfe Research, expects to see cooler economic data ahead, giving the Federal Reserve cover to "credibly" avoid hiking interest rates in September.
Jay Goldberg, senior analyst at Seaport, says, "there's a lot more that can go wrong here than go right," as he previews earnings from Nvidia.
The Federal Reserve's preferred inflation metric, the so-called core PCE price index, which excludes food and energy items, rose 0.2% in July and advanced 3.3% from a year ago. Inflation-adjusted consumer spending was flat last month. Michael McKee reports on Bloomberg Television.
Improving economic conditions are driving renewed activity in Africa's capital markets according to Yvonne Ike at Bank of America. She spoke to Chief Africa correspondent Jennifer Zabasajja on Bloomberg's Next Africa program.
Matt Maley, Chief Market Strategist at Miller Tabak, joins Bloomberg's Vonnie Quinn on "Bloomberg Brief" to discuss how Nvidia's results will impact the AI trade.
Andrew Balls, global fixed income CIO at Pimco, says it is "not 100% clear to me why" the US Treasury would increase the purchases of long-dated bonds as he explains the factors he finds healthy about the fixed income market. He speaks on "Bloomberg Surveillance."
Simon MacAdam, deputy chief global economist at Capital Economics, joins Bloomberg's Lizzy Burden on "The Pulse" to discuss his reaction to ECB Governing Council member Isabel Schnabel emphasizing the need for further interest rate increases due to upside inflation risks. He also talks about what he'd like to hear from US Federal Reserve Chair Kevin Warsh at Jackson Hole.
Anna Leach, chief economist at the Institute of Directors, joins Bloomberg's Lizzy Burden on "The Pulse" to discuss the priorities of British businesses in the upcoming UK budget. Leach also talks about the Burnham government's approach to reshaping the Cabinet Office and the creation of a national economic council with devolved powers, aimed at improving policy implementation and fostering economic growth.
China's Huawei Technologies has sent a proposal to the Egyptian government to build AI data centers for military, surveillance and other public sector use. Tom Mackenzie reports on Bloomberg Television.
JioBlackRock MD and CEO Sid Swaminathan discusses India's growing retail investor base and why he remains optimistic about the future of India's financial markets. He joined "Insight with Haslinda Amin" exclusively.
China's Huawei has pitched the Egyptian government on building AI data centers for military, surveillance and other public sector use, demonstrating its global chip ambitions and drawing alarm in Washington where officials are working to assemble a counteroffer. Bloomberg's Tom Mackenzie explains.
