Bloomberg Businessweek

Tesla beat Wall Street’s profit expectations to start the year as the automaker said demand for its electric vehicles is rebounding around the globe, hinting at a possible recovery for its long-struggling automotive business.
Adjusted earnings rose to 41 cents a share in the first quarter, the company said Wednesday in a statement, higher than the 34-cent average of analyst estimates compiled by Bloomberg. It’s the second straight quarter Tesla’s earnings have exceeded expectations.
Tesla said it “saw continued growth in demand for our vehicles” in parts of Asia-Pacific and South America, along with a rebound in North America and the Europe-Middle East region. The surprisingly optimistic comments come several weeks after the automaker reported one of its worst quarters of auto sales in years.
For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
Steve Man, Bloomberg Intelligence Global Autos and Industrials Research Analyst
Ed Ludlow, Bloomberg Tech co-host
Ross Gerber, President and CEO at Gerber Kawasaki
See omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy.
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
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.
Indefinite Extension
The US and Iran were discussing returning to talks in Islamabad on the eve of the two-week ceasefire deadline. Trump warned he was unlikely to extend the truce and would resume bombing Iran if they failed to show. Tehran held its line: no talks while the US blockade remained.
That pointed to a return to hostilities unless someone blinked. Trump blinked first. The political cost of war was rising for the US, as was its economic toll. The prospects for a win were becoming more elusive by the day. Tehran’s goal remains the same: survival and imposing a global cost for the war. It can’t afford to blink, and it didn’t.
What does this mean for the war? There’s no deal so there’s no lasting peace. There’s no high-intensity war either. Instead, the war may be settling into a prolonged middle ground:
No formal end to the hostilities between the US/Israel and Iran because the underlying differences remain unresolved. These include issues such as Iran’s nuclear program, the Strait of Hormuz, and Lebanon.
Escalation, on the other hand, is costly. It draws the US deeper into a conflict it doesn’t want and more entrenched in a region it would prefer not to focus on. Tehran, weakened but also emboldened, will hold the Strait of Hormuz and the global economy hostage. And Arab Gulf states are likely to face renewed attacks.

Today's show features:
Ray Takeyh, Senior Fellow for Middle East Studies at Council of Foreign Relations
Seth Jones, President of Defense and Security Department at CSIS on Defense and Counterterrorism measures in Iran War
Jay Hatfield, CEO and CIO at Infrastructure Capital Advisors
Seth Fiegerman, Bloomberg AI Editor on SpaceX Has Deal for Right to Acquire Cursor for $60 Billion
Michael Stivala, President & CEO at Suburban Propane
See omnystudio.com/listener for privacy information.

As Washington battles over tariffs and supply chains, and Wall Street fixates on AI infrastructure, a new tech cluster is quietly thriving – and it’s not in Silicon Valley. It’s California’s state capital: Sacramento. The city – less than 90 miles from the Bay Area – is seeing unprecedented industry momentum (it’s home to nine global chips companies and offers 26x more semiconductor growth capital than the U.S. average). Greater Sacramento is outpacing the Bay Area in semiconductor job growth: According to the Greater Sacramento Economic Council, the region is expected to exceed state averages in GDP growth and job creation through 2026 — and is the #1 California market for semiconductor growth.
Barry Broome is President and CEO of the Sacramento Economic Council. He discusses how Sacramento is a new CA hub for tech/industry as the Bay Area remains pricy and businesses deal with continued regulations. He speaks with Carol Massar and Tim Stenovec.
See omnystudio.com/listener for privacy information.

President Donald Trump announced he was extending a ceasefire with Iran indefinitely a day before it was set to expire, even as plans for a fresh round of talks between the two countries fell apart.

In a Truth Social post, Trump said Tuesday he would maintain a blockade over ships coming to and from Iran in the Strait of Hormuz. He said Pakistan, which had mediated between the two sides, asked for the US to hold off on fresh strikes and he was extending the ceasefire until Iran submits a new proposal “and discussions are concluded, one way or the other.”

For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
Wendy Benjaminson, Bloomberg News Senior Editor
Terry Haines, Pangaea Policy Founder
Adam Farrar, Bloomberg Economics Senior Geoeconomics Analyst
Ambassador James F. Jeffrey, Philip Solondz Distinguished Fellow at The Washington Institute
See omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy.
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
Kevin Warsh repeatedly pledged to act independently if he’s confirmed as the next Federal Reserve chair, rejecting Democratic concerns he would be a “sock puppet” for President Donald Trump, who continues to demand lower interest rates.
Warsh, in testimony before the Senate Banking Committee Tuesday, called for a slew of changes to the way the US central bank makes its decisions, including a new framework for dealing with persistent inflation and a new way of communicating with the public. But he provided few specifics and avoided answering questions about the near-term path of interest rates.
He also insisted the president never asked him to commit to any particular rate decision.“The president nominated me for the position, and I’ll be an independent actor if confirmed as chairman of the Federal Reserve,” Warsh said, in response to questions from Democrats about how he planned to handle pressure from Trump.
In her opening remarks, the senior Democrat on the panel, Senator Elizabeth Warren said Warsh would be Trump’s “sock puppet” at the Fed.
“Kevin Warsh hit all the right notes to reassure his supporters on the committee that he will push forward his idea of regime change at the Fed,” Joseph Brusuelas, chief economist at RSM. “He said nothing that will disrupt his path to being approved, if it makes it to the floor of the Senate.”
Treasuries fell as strong economic data and higher oil prices prompted traders to scale back rate-cut expectations, overshadowing testimony from Warsh. The policy-sensitive two-year note climbed as much as seven basis points to 3.79% as US crude oil rose back above $90 a barrel.
Today's show features:
Michael McKee, Bloomberg TV and Radio International Economics & Policy Correspondent on Kevin Warsh's Hearing
Jitania Kandhari, Deputy CIO of Solutions and Multi-Asset Group at Morgan Stanley Investment Management
Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech, on Apple Names John Ternus as new CEO
Samantha Dart, Co-Head of Global Commodities Research at Goldman Sachs
Anil Chakravarthy, President of Digital Experiences Business at Adobe on the company’s Agentic AI Strategy
See omnystudio.com/listener for privacy information.