Business
Oil Tops $100 as Iran Vows to Escalate War, Trump Says US Will Win
Oil climbs above $100 a barrel as the war with Iran escalates and Tehran says it has no intention of backing down. President Donald Trump says the US will win the war with Iran and suggests the Strait of Hormuz should be renamed the “Trump Strait,” while an Iranian official says Iran is ready to escalate the conflict.
Brent crude rallies as the war disrupts energy supplies and fuels renewed inflation concerns. OPEC output slumps as the conflict curbs Saudi flows, with Saudi production plunging by more than 1 million barrels. Iraq, meanwhile, is seeking a significant increase in its OPEC production quota.
Asian stocks fall as surging oil prices revive inflation fears, while the dollar hovers near seven-month lows. Investors are also weighing higher crude prices against the US Treasury’s buyback plans.
US Treasury Secretary Scott Bessent’s $6 billion buyback plan disappoints investors. His comments on Japan are also raising expectations around monetary policy that the Bank of Japan may struggle to meet, while BOJ official Masu says further rate hikes are needed to complete policy normalization.
The European Central Bank is expected to raise interest rates today as policymakers confront renewed inflation pressures.
Apple enters the foldable-phone market with prices starting at $1,999 as the company positions the iPhone as a personal intelligence hub. Apple’s new iPhone duo reaches $3,199, setting an industry record, as the company prepares for a broader run of product releases.
President Trump floats a $5,000 payment to US adults if Republicans win the midterm elections.
SoftBank plans to repay a $40 billion bridge loan tied to its OpenAI stake.
Shipping nations sound the alarm over an increasingly fragmented global trading system as geopolitical tensions disrupt shipping routes and international commerce.
Dow is weighing an exit from its $20 billion Saudi chemicals venture, while Mubadala backs Luckin Coffee.
Dangote refinery cuts its debt to $5.7 billion ahead of its planned IPO, while Mozambique’s dollar bonds climb to their highest level in six years. Guests includes Carole Nakhle, Crystol Energy CEO, Deepak Mehra, Commercial Bank of Dubai Chief Economist and Richard Windsor, Radio Free Mobile Founder.
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
00:05:13 – Iran Says It’s Ready to Escalate the War
00:08:23 – Carole Nakhle, Crystol Energy CEO
00:14:43 – Deepak Mehra, Commercial Bank of Dubai Chief Economist
00:27:33 – OPEC Output Slumps as War Curbs Saudi Oil Flows
00:32:21 – Apple Enters Foldable Phone Market
00:35:45 – Richard Windsor, Radio Free Mobile Founder
00:41:14 – ECB Expected to Raise Interest Rates
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CoreWeave’s stock dropped 20% during the first three trading sessions of this week, then Nvidia CEO Jensen Huang stepped in to say he had confidence in the company. But will that be enough to prop up the stock? Mandeep Singh of Bloomberg Intelligence has more.
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Bank of America’s stock and fixed-income traders missed estimates in the third quarter, with bond-trading revenue falling 17% to $2.55 billion and equity trading down 10% to $2.51 billion. The bank’s results were also hurt by a charge tied to a regulatory penalty over money laundering and sanctions violations. Kristine Aquino reports on Bloomberg Television.
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“Insight with Haslinda Amin” is a daily news program featuring in-depth, high-profile interviews and analysis to give viewers the complete picture on the stories that matter. The show features prominent leaders spanning the worlds of business, finance, politics and culture.
Chapters:
00:00:01 – Insight with Haslinda Amin Begins
00:01:12 – Bridgewater Associates founder Ray Dalio on rising debt squeezing economies
00:04:45 – Ray Dalio on the risk of a US debt crisis within the next three years
00:17:21 – Ray Dalio on AI investment, market bubbles and lessons from past tech booms
00:21:17 – Ray Dalio warns China, Japan may pull back from US Treasuries
00:27:02 – Bloomberg Opinion: Japan’s massive bond rotation is France’s nightmare
00:30:39 – Australian Treasurer Jim Chalmers on global bond yields and budget pressures
00:35:49 – AI executives face grilling by Australian lawmakers
00:39:56 – Moonshot said to eye early 2027 IPO after value hits $50B
00:42:16 – US, India officials signal trade deal talks at an impasse
00:44:42 – Germany, France push new trade weapon before EU-China talks
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Treasuries led a global bond rally as a selloff in artificial-intelligence shares deepened, spurring demand for havens from a growth slowdown. A measure of CoreWeave’s credit risk climbed to an all-time high Thursday as its high-yield bonds extended declines. We get reaction from Bloomberg Tech host Ed Ludlow. Steve Kaplan of JPMorgan Asset Management joins to discuss trends in portfolio diversification. Bloomberg’s Austin Carr examines Marc Andreessen’s rise as a MAGA power player ahead of midterms. Plus – US producer prices rose in September at the fastest pace in more than four years as higher energy costs reverberated through the US economy. We examine what it could mean for monetary policy with Frank Monkam, Bloomberg News Macro Strategist. All on the latest episode of Bloomberg Businessweek Daily.
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