President Donald Trump defended Pete Hegseth after a report about a disagreement over dwindling US weapons stockpiles raised questions about the Pentagon chief’s future in the administration.

Trump’s comments followed a Washington Post report on Wednesday that said Trump vented frustration with Hegseth on the sidelines of a Cabinet meeting last week, saying he had been misled about munitions shortages. Trump has refuted that reporting, repeating that “defense companies are building the largest number of plants and factories in our country’s history.”

Read more: https://www.bloomberg.com/news/articles/2026-08-06/trump-backs-hegseth-after-report-on-dispute-over-us-stockpiles

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Mike Wilson, Morgan Stanley chief US equity strategist and CIO, talks about using gold as a defensive asset to protect your portfolio. He says gold has been in a bull market for 25 years. He speaks on “Bloomberg Money.”
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Romantasy has grown from a BookTok-driven obsession to a nearly billion-dollar business, powered by a largely female fandom scooping up special editions, merchandise, event tickets, audiobooks and more. The genre’s rise is reshaping publishing and drawing retailers, creators and now Hollywood into one of the book industry’s most powerful new markets.

The Steamy, Magical and Now Very Lucrative Romantasy Business: https://bloom.bg/4cBIgGc

The billion-dollar genre has transformed the book industry, unleashed a cottage economy and promised Hollywood its next big franchise.

#Romantasy #Business #Hollywood

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Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.
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Private equity has long promised investors better returns than public markets, while offering entrepreneurs like Dan Namerow life-changing exits. But the market that made those deals work has changed. Higher interest rates have made debt-financed buyouts harder to justify, while deals struck at peak valuations in 2020 and 2021 have become more difficult to exit. University of Chicago Booth professor Steven Kaplan says US buyout funds largely beat public markets for decades, but that pattern has reversed since 2019, while PitchBook reports that the backlog of companies held by private equity firms has risen to more than 33,000. The result is a tougher environment where firms are being judged less on leverage and multiple expansion, and more on whether they can actually improve the businesses they buy.
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