ByteDance’s Zhang Yiming has become Asia’s richest person for the first time, marking a comeback for the TikTok developer as fortunes linked to AI surge above the billionaires of traditional industry.

Pui Gwen Yeung has more.
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PNC Asset Management Chief Investment Officer Amanda Agati tells Bloomberg This Weekend that strong corporate fundamentals and resilient consumer spending could support US stocks as investors head into third-quarter earnings season. Speaking with hosts David Gura and Christina Ruffini, Agati says investors will be watching for evidence that AI investment is generating returns beyond the largest technology companies, while strong US earnings growth keeps her favoring domestic equities over developed international markets.
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Apollo Chief Economist Torsten Slok talks about the impact of higher interest rates on the US housing supply. He also discusses the prospects of an AI-induced bank run and which parts of the economy are the most sensitive to Federal Reserve interest rate moves. He speaks on “Bloomberg Surveillance.”
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Bloomberg hosts David Gura, Christina Ruffini and Lisa Mateo are on Bloomberg This Weekend for “Bookmarked,” sharing stories that caught their attention over the past week. The hosts discuss the reporting that piqued their interest and explain why those stories stood out from the week’s news.
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Starbucks is pushing forward with plans for an office for thousands of workers in Nashville, even as the coffee chain struggles to persuade the first round to relocate from its Seattle headquarters.

The company is spending $100 million on its new Nashville corporate office, Starbucks said on Tuesday in a letter to workers. In the next five years, the hub is expected to be home to 2,000 jobs, including some technology positions currently based in Seattle. Here’s what CEO Brian Niccol had to say about the move

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