Roman Abramovich is selling Chelsea Football Club after almost two decades of ownership. The billionaire’s ties to Russia are being scrutinized. He is seeking 3 billion-pounds from the sale of the football club and has said that net proceeds will go to a foundation for Ukraine war victims. The billionaire hasn’t been personally sanctioned by the U.K., but it highlights the global scramble by oligarchs to keep assets from being frozen and seized by international governments after sanctions were announced. Bloomberg’s Tom Metcalf reports on “Bloomberg Markets: Europe.”

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Nobel laureate Paul Krugman, a research professor at the City University of New York’s Graduate Center, says all jobs data is “noisy” when reacting to the June US employment report. Speaking on “Bloomberg The Close,” Krugman also says he is “disturbed” by Federal Reserve Chairman Kevin Warsh’s point of view on monetary policy and warns that the Supreme Court’s Trump v. Slaughter ruling gives too much discretionary power to President Donald Trump.
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Citigroup’s CEO Jane Fraser has brought the third-largest bank back from the brink and is quickly building a rapport with President Trump and his administration, a feat that has eluded many peers. Todd Gillespie explains how she managed it
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Meta Platforms is developing plans to build a cloud infrastructure business that would sell access to AI computing power and models. It would take on industry leaders like Amazon Web Services, Microsoft Azure and Google Cloud. Mandeep Singh of Bloomberg Intelligence has details.
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Listen to Bloomberg This Weekend for unique conversations spanning news, politics, lifestyle and culture.

David Gura, Christina Ruffini and Lisa Mateo bring you unique discussions and in-depth conversations with lawmakers, business leaders and cultural icons.
Bloomberg This Weekend gives you insight to make sense of the world.

Here are the stories we’re covering today:
– President Donald Trump basked in a celebration of the country’s 250th birthday at Mount Rushmore on Friday, standing before a memorial to some of the most beloved presidents as he looks to boost his own political standing ahead of midterm elections.
– A searing heat dome was set to push electricity demand across the eastern US toward record levels over the July 4 holiday, straining power grids and halting one of Washington DC’s main events for hours.
– Americans hit the peak of the summer driving season this July 4 holiday weekend wincing at the cost of gasoline, still running nearly a dollar a gallon higher than before the war with Iran despite falling sharply in recent weeks.
– From a flotilla parade of old-timey ships to a traveling “Freedom Plane” carrying rare historic documents, historians, curators and other organizers are pulling out all the stops for America’s 250th anniversary. 
– America’s Independence Day Parade in Washington DC has been canceled due to extreme heat, the latest event to be disrupted by a searing heat dome that continues to hover over the east of the country.
– t least eight ships attempting to leave the Persian Gulf along the Omani coast turned back between Friday and Saturday, in the latest sign that reopening the Strait of Hormuz remains complicated by Iran seeking to assert its control over the key waterway. Some of the vessels continued with their transits by switching to a route closer to Iran.

Today’s show includes conversations with:
– Ken Burns, Renowned Documentary Filmmaker, “The American Revolution”
– Vice Adm. Kevin Donegan (Ret.), Fmr. Director of Navy Staff, Fmr. Commander US Fifth Fleet
– Susan Marenoff-Zausner, Intrepid Museum, President
– Robbie Lauf, Theodore Roosevelt Presidential Library Director
– Brittany Spanos, Pop Culture & Celebrity Journalist
– Lt. Gen. Michael Linnington (Ret. – Army), USO CEO
– Gov. Wes Moore (D) Maryland
– Robert Snyder, Rutgers University, Professor Emeritus of American Studies

#politics #trump #iran , #iranwar, #elections #electionnews #worldcup2026 #knicks #knicksfans #swarovski #spacex #spacexupdates #spacexnews #spacexipo

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