Business
US in Recession, Choppy Market Ahead: Schwab’s Kleintop
US in Recession, Choppy Market Ahead: Schwab’s Kleintop
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Global markets remain focused on escalating tensions in the Middle East as the US and Iran exchange another round of military strikes. The US military launched a new wave of attacks targeting Iranian positions, while Iran responded with drone strikes aimed at US military positions in Kuwait. Washington says the latest operations are intended to degrade Iran’s ability to threaten commercial shipping in the Strait of Hormuz, while the IRGC claims it struck a US drone operations center at Sheikh Isa Air Base in Bahrain. The renewed conflict has left energy markets on edge as uncertainty over the Strait of Hormuz continues.
We also cover Apple’s lawsuit against OpenAI alleging trade secret theft, Nippon Paint’s $8.6 billion bid for Akzo Nobel’s paint business, reports that SoftBank is considering a stake in Seven & i Holdings, and the death of former Qatari ruler Sheikh Hamad, which comes as Senator Lindsey Graham’s political future raises fresh questions over US Senate succession.
In Asia, South Korea’s KOSPI trading was briefly halted after falling 8%, with SK Hynix leading the decline. Elsewhere, venture capital funding across the Middle East and North Africa fell 22% year over year during the first half of 2026, the UAE’s oil production reached a record high in June, and Senegal’s infrastructure plans face setbacks amid a growing debt scandal. Guests Includes John Sfakianakis, Gulf Research Center Chief Economist and Research Head; Praten Jagwani, UTI International Global Head and CEO; Philip Bahoshy, Magnitt Founder & CEO; and Chey Tae-won, SK Group Chairman
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.
Chapters:
00:00:00 – Introduction
00:04:50 – US, Iran Resume Strikes as Hormuz Status Disputed
00:07:58 – John Sfakianakis, Gulf Research Center Chief Economist and Research Head
00:14:18 – Praten Jagwani, UTI International Global Head and CEO
00:28:50 – Philip Bahoshy, Magnitt Founder & CEO Chey
00:34:54 – Tae-won, SK Group Chairman
00:38:54 – Energy Markets on Edge as Hormuz Tensions Intensify
00:43:00 – Debt Scandal Derails Senegal’s infrastructure Dream
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Business
July Beige Book Drops, OpenAI Plans AI Speaker Device | Bloomberg Businessweek Daily 7/15/2026
Bloomberg’s Mike McKee reacts to the release of the Fed’s July Beige Book, which says economic activity increased in a 11 of 12 Fed districts in late May and June. Mary Ann Bartels from Sanctuary Wealth explains why she thinks the recent Mag 7 correction is a buying opportunity. Then, Managing Editor for Global Consumer Tech Mark Gurman discusses OpenAI’s plan to release a speaker device built as an AI companion, competing with Apple and Google’s home speaker gadgets. Finally, SilverChef US President Jon Jacobs has an inside look at how independent bars and restaurants are capitalizing on the influx of tourism from the World Cup.
Chapters
00:00:00 Bloomberg Businessweek Daily
00:02:10 Market Update: Beige Book, PPI & Tech Stocks
00:04:20 Fed Beige Book Signals Moderate Economic Growth
00:06:20 Kevin Warsh Defends Fed Independence
00:07:50 Michael McKee Breaks Down the Beige Book
00:12:35 Outlook for Inflation, Earnings & Tech
00:18:55 Market Update: Morgan Stanley, PayPal & Semis
00:21:00 OpenAI’s AI Device Revealed
00:22:40 Can OpenAI Challenge Apple & Amazon?
00:26:00 Apple’s AI Roadmap & Foldable iPhone
00:32:35 Market Update: Apple Gains, Anthropic IPO & SpaceX
00:34:35 World Cup Boosts Restaurants & Hospitality
00:39:40 Small Business Outlook After the World Cup
00:42:40 Stocks on the Move
00:44:00 SpaceX Falls Below IPO Price
00:47:00 BlackRock Hits $15 Trillion in Assets
00:48:10 PayPal Surges on Buyout Report
00:48:45 Coming Up: Extreme Weather & the U.S. Power Grid
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Ed Yardeni, president of Yardeni Research, says the flare-up of fighting with Iran rekindles market concern that rising oil prices will stoke inflation — and force the Federal Reserve to hike interest rates. He speaks on Bloomberg Television’s “Surveillance.”
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President Donald Trump, speaking at the NATO Summit in Ankara, Turkey, says the US plans to give Ukraine a license to make their own air defense Patriot missiles. During a meeting with Ukraine President Volodymyr Zelenskyy, Trump says it’s very complex, but we’ll “show them how to do it.”
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@roadsectoradventures1282
December 28, 2023 at 5:09 am
Robots are here!
@camerastagevideos913
December 28, 2023 at 5:09 am
Bidenomics at work.
@kurdi98k
December 28, 2023 at 5:09 am
The recession has started.
@blackmoses706
December 28, 2023 at 5:09 am
Been in a recession for years now fednow and CBDC is the reason for the banks crashing this is just the beginning the new world order 🙌
@truepersona6804
December 28, 2023 at 5:09 am
Clean-Top !
Nation-wide bank losses have to be covered up by printing unimaginable amounts of more FIAT money !
Bank bailouts will cost USA taxpayers an additional TWO TRILLION+ DOLLARS and that is separate from the deficit spending which will increase the national DEBT by another TEN TRILLION+ DOLLARS while Democrats are in office. This MEGA MADOFF PONZI scheme "proudly" made in the USA is getting crazier and crazier and there is no stopping or escaping it !?! 😅🤣😅
@deesus1085
December 28, 2023 at 5:09 am
Listen. Go buy Europe and Asia and good luck 😂
@praveenspike
December 28, 2023 at 5:09 am
S&P and Dow Jones rely on CCP and CPI data, if both are strong S&P and Dow not needs to worry too much.
@drscopeify4582
December 28, 2023 at 5:09 am
The US economy really enjoys a bit of inflation and I don't think it's an issue, high employment numbers will motivate people to get out and work and pay for higher prices. As baby boomers retire we will need to motivate people to get out and work which inflation being a good carrot for the horse. I think the FED focus on 2% is just not realistic, with the coming De-globalization we need to be open to accepting an environment with higher inflation long term, not 6% or 5% but maybe in the 3s and 4s as long as it is under control.
@5876efcn
December 28, 2023 at 5:09 am
American can invent a new product and we would buy it. even if it a new shoe lace invented to tie our shoe .
@5876efcn
December 28, 2023 at 5:09 am
why don't you ask the fed to lower the interest rates so we can pump the market up again. everything is sold
@5876efcn
December 28, 2023 at 5:09 am
yes I know we are in a recession. apple MacBook Pro and max are slashing discount prices and the product just came out dude! that's how I know.
@33Treez
December 28, 2023 at 5:09 am
$GRT future 75b+ Market Cap valuation forecasts… Anything that improves A.I. and Web3/4 capabilities is a smart move…
@shingnosis
December 28, 2023 at 5:09 am
Stock market is still high, inflation is still high, employment is high, a few idiots banks gambled and lost, the savers will be taken care of, why should the FED flinch? I'm not big fan of the FED's action during the pandemic and now this, but why should they flinch? We're miles of the supposed 2% inflation target. I see literally no reason for the FED not to stay the course.
@Azel247
December 28, 2023 at 5:09 am
Stop with the wimpy 0.5% moves. Let's raise rates by 20% and just be done with it.
@justinuwaidia5873
December 28, 2023 at 5:09 am
someone watched the grammys
@hRt42kuo7jTtmk14
December 28, 2023 at 5:09 am
The Fed Put is back.
@aratrex3
December 28, 2023 at 5:09 am
Risk is cancelled. Everyone is getting bailed out. Stonks to the moon!