American bankers seek delay on stablecoin rules
The American Bankers Association has asked US regulators for a 60-day extension to comment on stablecoin rules, potentially delaying implementation of the GENIUS Act framework.
The American Bankers Association has asked US regulators for a 60-day extension to comment on stablecoin rules, potentially delaying implementation of the GENIUS Act framework.
Sam Bankman-Fried has withdrawn his request for a new trial in federal court while continuing to pursue an appeal of his conviction and a bid to have a different judge oversee proceedings.
SK Hynix Inc. reported a five-fold jump in quarterly profit and reiterated plans to ratchet up its capex "significantly" this year, underscoring surging prices of memory chips that underpin global artificial intelligence development.
Suburban Propane President and CEO Michael Stivala joins Bloomberg Businessweek Daily to discuss the company's current supply and demand outlook as the Iran war weighs on commodities and consumer costs across the board. Stivala says the company's robust domestic supply is keeping inventory levels elevated at a record high. He speaks with Carol Massar and Tim Stenovec.
In another reversal, US President Donald Trump announced a unilateral, open-ended extension of the ceasefire in the Iran war. Now, there's no peace, but no active war either. This may become the new normal: a fragile ceasefire without a formal deal, with tensions simmering, sporadic flare-ups, and oil near $100. A geo-economics analysis by Bloomberg Economics highlights that the war may be settling into a prolonged middle ground: on the one hand, no formal end to the hostilities between the US/Israel and Iran because the underlying differences remain unresolved, and on the other hand, a costly escalation that draws the US deeper into a conflict it doesn't want. Ray Takeyh, Council on Foreign Relations Hasib J. Sabbagh Senior Fellow for Middle East Studies, joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Tim Stenovec.
White House National Economic Council Director Kevin Hassett says he supports Federal Reserve Chair Jerome Powell's plan to stay on at the central bank's helm on a temporary basis if a successor hasn't been confirmed by the Senate when his term expires next month.
Jay Hatfield, Infrastructure Capital Advisors CEO and CIO, joins Bloomberg Businessweek Daily to discuss his markets and macro outlook, including his year-end S&P 500 price target of 8,000 which he continues to stand by as markets hit new highs amid the Iran war. Hatfield also adds that even amid broader geopolitical tensions and higher energy prices, "The notion that the US has lost its exceptionalism is ridiculous." On Wednesday, stocks climbed to all-time highs as a slew of strong corporate results and President Donald Trump's extension of a ceasefire with Iran revived risk appetites after a two-day retreat. Bitcoin rallied. The S&P 500's 1% gain extended its advance for the month, set to be the best since 2020. Chipmakers climbed for a 16th straight day, the longest-ever winning streak. Hatfield speaks with Carol Massar and Tim Stenovec.
Ross Gerber, co-founder and CEO of Gerber Kawasaki Wealth and Investment Management, says consumers have to be "crazy" to not want to drive an electric vehicle as oil prices surge while reacting to Tesla's latest earnings report on "Bloomberg The Close."
Tilray CEO Irwin Simon discusses the expected easing of cannabis restrictions in the US, and why despite not currently selling cannabis in the United States the opportunity to do so would be 'tremendous.' He talks with Romaine Bostick and Katie Greifeld on "the Close."
Avinash Mehrotra, co-head of Americas M&A and global head of activism & takeover defense at Goldman Sachs, discusses the current landscape of activist landscape investing with Dani Burger on "Bloomberg Deals."
Brent Thill, Jefferies software and Internet research tech sector leader, reacts to IBM posting quarterly sales in its software unit that were in line with estimates, failing to shake investor concerns about AI disruption to its business. He speaks on "Bloomberg The Close."
Bank of America Global Head of FICC E-Trading and Markets Strategic Investments Sonali Theisen discusses the key factors currently driving market activity and how ETFs have 'created a language' in fixed income. She talks with Katie Greifeld and Romaine Bostick on "The Close."