“Pretty much 100% of people at BNY now know how to use AI and are doing it in their daily work,” says BNY CFO Dermot McDonohoe.

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US equity futures rise on a chipmaker rebound. US-Iran strikes continue for a tenth consecutive day as mediators sought to revive a truce. Marvin Loh of State Street discusses the choppiness of the current environment. Bloomberg’s Guy Johnson speaks to Orlando Sanchez of Lockheed Martin at the Farnborough International Air Show on global defense spending.

Chapters:
00:00:00 – Bloomberg Brief Begins; Opening Headlines
00:00:48 – Asian Stocks Rise After Three Days of Decline
00:06:34 – TSMC to Raise Chipmaking Prices by Up to 10%: Nikkei
00:09:12 – Houthis Threaten Shipping in Red Sea
00:11:42 – US Vows Fresh 50% Tariff on Some Canadian Goods
00:16:05 – Burnham Pledges ‘Circuit Breaker Moment for UK’
00:19:59 – Front Page News
00:24:38 – State Street Global Macro Senior Strategist Marvin Loh on Chip Stocks and the Fed
00:33:34 – Lockheed Martin Aeronautics President Orlando Sanchez Jr. on Supporting the UK Government and F-35 Demand
00:42:14 – What to Watch For
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At the 2026 World Artificial Intelligence Conference China’s Moonshot AI unveiled its Kimi K3 model, intensifying concerns that Chinese developers are rapidly narrowing the AI gap with US rivals while offering lower cost. Bloomberg News China Correspondent Minmin Low and Bloomberg News Technology and Strategic Industries Senior Editor Mike Shepard join Bloomberg This Weekend and discuss how more open models are forcing investors to reassess massive spending on AI infrastructure.
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Grad PLUS loans were created in 2006, allowing graduate students to borrow up to the full cost of attendance. Total borrowing rose from about $2 billion in the program’s first year to over $15 billion in 2024–25, but beginning July 1, 2026, new borrowers will face annual loan caps, leaving a funding gap for students and universities alike. Supporters say the limits will curb overborrowing and tuition growth; critics warn they could push students toward private loans and reduce access to lower-paying fields.
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University of Pennsylvania classics professor Emily Wilson says Christopher Nolan’s adaptation of The Odyssey is introducing a new generation to Homer, driving a surge in book sales, library checkouts and interest in studying the classics. Wilson says diverse audiences and fresh perspectives continue to enrich the interpretation of ancient texts, while emphasizing that every translation begins with the original Greek rather than previous English versions.
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