ICYMI: New York Sports Legend Goes From Ice to Geothermal
New York-based Brightcore Energy is an energy efficiency company working to lower buildings' operating costs through new technology, with a particular expertise in geothermal heating and cooling in dense urban environments. Brightcore's solutions, ranging from geothermal HVAC to efficient lighting to solar energy, help to lower a building's energy use, providing improved net operating income through reduced costs. In addition to design and installation, Brightcore Energy helps partners realize maximum return-on-investment on these projects through strategic planning and in some cases, financial guidance, helping clients access incentives at the national, state, and local levels. Mike Richter, a former three-time NHL All-Star and 1994 Stanley Cup Champion with the New York Rangers, now serves as Brightcore's president. He speaks with Tim Stenovec, Emily Graffeo and Will Wade on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.
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Trump Presses Fed’s Cook to Quit After Mortgage Fraud Allegation
Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump called on Federal Reserve Governor Lisa Cook to resign after a staunch ally called for an investigation of the board member’s mortgages, intensifying his campaign on the central bank.Federal Housing Finance Agency Director Bill Pulte urged Attorney General Pam Bondi to investigate Cook over a pair of mortgages, the latest in a series of moves by the Trump administration to increase legal scrutiny of Democratic figures and appointees. Cook was nominated to the Fed by former President Joe Biden.Trump said Wednesday that Cook “must resign now,” citing Pulte’s allegations, while the FHFA head posted on social media that the accusations give Trump “cause to fire” her.The dollar declined, yields pared losses and gold rose after Trump’s call for Cook’s ouster.Pulte wrote a letter to Bondi and Justice Department official Ed Martin on Aug. 15 suggesting that Cook may have committed a criminal offense. The letter, which was first reported by Bloomberg News, alleges that Cook “falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute.” The Justice Department has received the letter, according to an official, who declined to elaborate further.Today's show features: Bloomberg TV Radio International Economics and Policy Correspondent Mike McKee on President Donald Trump calling on Federal Reserve Governor Lisa Cook to resign Bloomberg News Space Reporter Loren Grush on recent struggles at SpaceX Bloomberg News US Finance Reporter Todd Gillespie on his story about Citigroup hiring a law firm to investigate complaints about the behavior of the bank's wealth-management chief David Haber, General Partner at Andreessen Horowitz, and Bloomberg News Consumer Finance Reporter Paige Smith on opportunities in fintech-related venture capital See omnystudio.com/listener for privacy information.
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ICYMI: Block Improving Profitability, Keeping Eye on Crypto
Block's next growth chapter will likely come from improving profitability, with greater engagement and product penetration among existing clients and better operating leverage. According to Bloomberg Intelligence, the stock's addition to the S&P 500 should accelerate passive investment flows. The Square Seller ecosystem is upselling to larger merchants, expanding overseas and leveraging Cash App to connect sellers and consumer platforms. Cash App is among the top US apps, with 57 million monthly actives in March. Direct deposits are gaining traction, and better unit economics can aid medium-term gross profit.Amrita Ahuja, Chief Financial Officer and Chief Operating Officer of Block, discusses the company's trajectory as well as the importance of cryptocurrency - especially Bitcoin - to its customer base. Amrita speaks with Tim Stenovec, Emily Graffeo and Nina Trentmann on Bloomberg Businessweek Daily.See omnystudio.com/listener for privacy information.
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Trump Says Putin, Zelenskiy Must Be Flexible as He Pushes Summit
Watch Bloomberg Businessweek Daily LIVE every day on YouTube: http://bit.ly/3vTiACF.Donald Trump urged Russia’s Vladimir Putin and Ukraine’s Volodymyr Zelenskiy to show some “flexibility” as the US president accelerates his efforts to end the war in Ukraine and encourages the two leaders to hold a bilateral summit.“I hope President Putin is going to be good, and if he’s not, it’s going to be a rough situation,” Trump said Tuesday in an interview on Fox News. “I hope that Zelenskiy, President Zelenskiy, will do what he has to do. He has to show some flexibility also.” Trump’s comments follow a whirlwind stretch as the US president pushes to bring Russia’s war against Ukraine — now in its fourth year — to an end. Trump held a summit in Alaska with Putin last week and talks at the White House with Zelenskiy and European allies on Monday.Trump spoke with Putin again on Monday and urged him to begin making plans for a bilateral summit with Zelenskiy — a sitdown that would mark the first time those leaders meet face-to-face since Russia invaded its neighbor in Feb. 2022. Trump said that if that meeting goes well, he’ll look to follow up with a trilateral summit with Putin and Zelenskiy.Today's show features: Bloomberg News Senior Reporter Jen Dlouhy on President Donald Trump urging Vladimir Putin and Volodymyr Zelenskiy to show flexibility in pursuit of a deal to end the war in Ukraine Bloomberg News Economic Statecraft Reporter Joe Deaux on President Donald Trump's willingness to use the US government to directly intervene in corporate matters Abby Roach, Senior Portfolio Analyst for the Empiric LT Equity team at Allspring Global Investments on Home Depot earnings and the US consumer Jai Patel, Chief Financial Officer for the MTA, on the state of the agency’s finances See omnystudio.com/listener for privacy information.
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ICYMI: The Latino-Driven Economy
US Latino GDP currently stands at $4 trillion. If measured independently, the figure equates to the world's fifth-largest economy, exceeding that of the United Kingdom and France, and tying with India, which boasts a population 20 times larger.Ana Valdez is the President and CEO of the nonprofit Latino Data Collaborative, which researches and highlights the vital contributions of US Latinos to the American economy. She breaks down the key sectors being driven by US Latinos, and explains why investors who’ve ignored this emerging demographic are leaving significant money on the table. Ana speaks with Tim Stenovec and Emily Graffeo on Bloomberg Businessweek Daily.See omnystudio.com/listener for privacy information.
Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy. Watch us LIVE on YouTube: http://bit.ly/3vTiACF.
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