Business
BRICS Nations Ramp Up Bid for Greater Global Influence
The BRICS group of emerging markets is ramping up its bid for greater global influence, sensing a moment to capitalize on the splintering world order to build out its ranks beyond Brazil, Russia, India, China and South Africa. Bloomberg Television’s Jennifer Zabasajja reports from Cape Town where foreign ministers from the BRICS nations are meeting.
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Starbucks Corp. said it’s not buying Chipotle Mexican Grill Inc., tamping down speculation about what could have been one of the restaurant sector’s largest-ever deals. Bloomberg’s Redd Brown joins to discuss this as well as his recent piece about how California vintners are experimenting with making an American version of tequila due to a drop in wine consumption and state-imposed water restrictions.
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Blackstone President Jonathan Gray discusses the firm’s investments in India, his views on Prime Minister Narendra Modi and why he’s confident about the artificial intelligence infrastructure buildout. “We think focusing on the AI infrastructure here in India and around the world is the right place to be,” Gray says in an interview with Yvonne Man on the sidelines of the Bloomberg New Economy Forum in New Delhi.
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Bloomberg Middle East reporter Dan Williams tells Bloomberg This Weekend that an attack on Riyadh’s international airport that killed at least 12 people and injured more than 300 marks a significant escalation in fighting between Saudi Arabia and Yemen’s Iran-backed Houthis. Speaking with hosts David Gura and Christina Ruffini, Williams discusses the possibility of US military intervention, the threat to Saudi Arabia’s investment ambitions and Iran’s efforts to rebuild its missile arsenal amid uncertainty over renewed hostilities.
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Saudi Arabia reports fresh missile and drone attacks, with the Saudi-led coalition saying it intercepted threats aimed at the kingdom. The latest escalation comes after deadly attacks over the weekend and raises concerns that the conflict could widen further.
Oil remains in focus, with some analysts warning prices could reach $120 a barrel if fighting expands and disrupts additional supply routes.
Asian stocks extend losses as the AI trade comes under pressure, while global bond markets remain volatile. The IMF warns that surging yields are now a major risk to the financial system and says weaker banks could come under increasing strain if the AI boom reverses sharply.
The UK says Iran’s Revolutionary Guard directed activity at an airbase used by the US, adding to regional security concerns.
Donald Trump says Vladimir Putin and Volodymyr Zelensky need to come together to end the war, while Jared Kushner says a diesel-related initiative is aimed at softening Russia’s position.
In technology, Meta unveils its Muse Wonder model as competition in artificial intelligence intensifies. BYD plans a major hiring push in Europe, aiming to expand its regional workforce to around 40,000.
Elsewhere, India’s opposition marches over a voter dispute, while Egyptian Foreign Minister Badr Abdelatty discusses efforts to reduce tensions across the Middle East. Guests includes Yves Bonzon, Julius Baer Group CIO.
Horizons Middle East & Africa is your daily spotlight on one of the world’s fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg.
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00:00:00 – Introduction
00:05:27 – Saudi Arabia Reports Further Attacks Monday
00:10:47 – Yves Bonzon, Julius Baer Group CIO
00:16:37 – Badr Abdelatty, Egyptian Foreign Minister
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The Close brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today’s guests are Wells Fargo CFO Mike Santomassimo, Golfer Rory McIlroy, Jefferies Equity Research Analyst David Chiaverini, PSP Growth Managing Director, Head of Venture Momei Qu, Applied Materials CEO & President Gary Dickerson, RBC Capital Markets Head of Derivatives Strategy Amy Wu Silverman, Advisors Capital Management Co-Founder & CIO Chuck Lieberman, Brookfield Asset Management CEO Connor Teskey, Blackstone President & COO Jonathan Gray, Vista Equity Partners Founder, Chairman & CEO Robert Smith, & Barclays Senior Equity Analyst Jason Goldberg.
Chapters:
00:00:00 Bloomberg The Close
00:02:37 Wells Fargo CFO on Lending, Credit & the Consumer
00:08:03 M&A, Wells Fargo Growth & Credit Cards
00:13:41 Rory McIlroy on LIV Golf & the Future of the PGA Tour
00:16:07 Top Calls
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00:22:21 Anthropic IPO, AI Valuations & Venture Capital
00:26:38 Applied Materials CEO on AI & the Chip Boom
00:32:03 AI Compute Demand & Applied Materials’ Growth Outlook
00:36:02 RBC on Earnings, Bond Yields & Market Volatility
00:41:27 AI Risk, Market Fragility & Hedging Strategies
00:43:04 Closing Bell
00:48:14 Market Movers: Citi, Domino’s & Six Flags
00:54:17 Market Recap: Chips, Oil & Fed Rate Outlook
00:56:21 Bank Earnings, AI & the Health of the Economy
01:01:38 Brookfield & Blackstone on the AI Infrastructure Boom
01:08:06 Vista’s Robert F. Smith on “Software as a Worker”
01:13:06 Enterprise AI, Data Security & Agentic Software
01:18:09 AI Agents, Productivity & the Future of Jobs
01:23:20 Frontier Models, Open-Weight AI & Enterprise Computing
01:25:01 Saudi Aramco Headquarters Hit in Missile Attack
01:27:23 Bank of America Hit With $1.2 Billion Fine
01:30:21 What to Watch
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@user-gf2qj1wb6i
December 20, 2023 at 1:55 am
Brics is the future ❤❤❤❤
@dylanmoris6211
December 20, 2023 at 1:55 am
It's interesting to learn more about the discussions and proposals around BRICS nations and their potential use of gold. There are several reasons why people may choose to buy gold, including its historical use as a store of value and means of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities.
@USSHammerology
December 20, 2023 at 1:55 am
BRICS now controls over 80% of the worlds oil😂 The West has maybe 2 decades of crawling left. Enjoy your windmills and solar panels 😂
@justclea007
December 20, 2023 at 1:55 am
@Nylah@TAZ
@nei8166
December 20, 2023 at 1:55 am
Go Ex president Dilma
@federicopaleangeles9094
December 20, 2023 at 1:55 am
Dont trust to china…
@sanujitroy6830
December 20, 2023 at 1:55 am
Time for big role of India
@sanujitroy6830
December 20, 2023 at 1:55 am
Modi need to have a bigger Indian presence in BRICS currency
@engchoontan8483
December 20, 2023 at 1:55 am
Yes, you are right. Do be quick. We welcome your initiatives. Your new members are approved. There will be no opposition for those to join you. You can call yourselves new superpower. We believe in logic. We are the-others.
@timtim9791
December 20, 2023 at 1:55 am
BRICS has been failing at banking and currency plans for over a decade lol. So yea they are going to take down the US dollar 😂😂😂
@misterhill5598
December 20, 2023 at 1:55 am
Smearing stupid title.
@turning_point96
December 20, 2023 at 1:55 am
Western Nations especially the USA are really afraid of BRICS. If BRICS develops the currency… 🤣🤣🤣
@Vikings_Valhala
December 20, 2023 at 1:55 am
I'm from India and too be honest i'd love to live in multipolar world instead of Unipolar world led by west .
@Hyrodeniamandibulata
December 20, 2023 at 1:55 am
Brics currency will be based on Argentine Peso
@soewin9784
December 20, 2023 at 1:55 am
Currencies without guarantee, accountability created by authoritarian regimes lacking good governance are untrustworthy. 😅😅😅
@josepha9184
December 20, 2023 at 1:55 am
Let gooo mexicooo
BRICS , another all about that new world order domination and war
@hussainahmadi3894
December 20, 2023 at 1:55 am
🇮🇶🇱🇧🇵🇸🇸🇾🇦🇫💪🏽🇸🇳💪🏽🇧🇷💪🏽🇨🇳💪🏽🇷🇺💪🏽🇮🇳
@kenkens9874
December 20, 2023 at 1:55 am
Brics will collapse it is the west their source of power.
@xx_ars_enic_xx2831
December 20, 2023 at 1:55 am
BR will be then end off all watch the space
@xx_ars_enic_xx2831
December 20, 2023 at 1:55 am
No gold left in sa not even electricity lmao 😂😂😂😂
@katarinakrajna4911
December 20, 2023 at 1:55 am
👍👏👏👏
@iluvamokabodengyoza
December 20, 2023 at 1:55 am
Okay, so NATO is going to be Oceania. Who will BRICS be?
@p51wildfyre
December 20, 2023 at 1:55 am
PRC, the main founder, allowed covid 19 to spread causing illness/deaths to millions, loss of livelihood and massive global misery. The other Founder, RUssia invaded Ukraine in the middle of a pandemic – first in modern history and first in modern warfare… also Putin added a global energy crisis raising the prices of essential commodities. India and China throwing stikcs and BRICKS (military confrontation along their contested Himalayan borders! Saudi and Iran joined, sure, tell that to the people in Yemen!
@JoeDplummer_
December 20, 2023 at 1:55 am
B🤮R🤮I🤮C🤮S🤮 👎
@hamm24
December 20, 2023 at 1:55 am
Bloomberg is lying to it's low IQ audience, the BRICS Alliance consists of non G7 Countries, that makes up for 85% of the Global Population and National Resources😂😂😂
@micheldenostredame6261
December 20, 2023 at 1:55 am
The Catholic Pope Urban II prepared plan by created a (New World Order) after the conquests of Jerusalem, known as the Crusades. The leaders of the crusaders army built a fortress and lived on an island called (Malta) and spread up to the Nordic counties, they called themselves Freemasons (the Builder, the Banker's). They want to reset (depopulation) the world to fulfill their mission of the new world order. But the heroes of the old world united together to give them the Real New Order they ask for. This is about value of life, family and friends (solid) fight against invisible value (credit) launderer. By switching your sweat to (Gold), so the snake venom and other poison of sanctions will not harm you, but those counterfeit money users and launderers will die of its own poison.🙂
@davidturnbull310
December 20, 2023 at 1:55 am
😂😂what a joke🤣🤣
@fun1comes
December 20, 2023 at 1:55 am
Brics is a welcoming and joyful alternative for a better more peaceful world moving away from imperialist mindset idealogy( war, war,bullying and stealing)
@sky-li8uc
December 20, 2023 at 1:55 am
It's only one powerful economic country China 🤣