Volkswagen is looking to cut tens of thousands of additional jobs and may shutter factories in a push by CEO Oliver Blume to make Europe’s biggest automaker more competitive, according to a report in Manager Magazin. Bloomberg’s Elisabeth Behrmann has more.
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The US dollar strengthens as traders await Fed Chair Warsh’s comments in his first public appearance alongside other central bank leaders in Sintra, Portugal. Oil declines as the US says indirect talks around Iran were positive. The US lifts its foreign access restrictions on Anthropic’s Fable 5 AI model. Collin Martin of Charles Schwab discusses the upcoming jobs report.

00:00:00 Opening Headlines & Global Markets
00:02:18 Europe Markets & Bond Moves
00;03;29 U.S. Markets Preview & Fed Watch
00:04:48 First Look Movers
00:06:04 Central Banks & Kevin Warsh Preview
00:09:49 Anthropic AI Export Clearance
00:12:43 Trending on the Terminal
00:14:10 Oil Markets & Strait of Hormuz
00:17:52 Trade & USMCA Discussion
00:20:20 Front Page News
00:23:07 First Look Movers
00:24:45 Collin Martin, Charles Schwab Chief Fixed Income Strategist
00:32:07 Iran Talks & Market Headlines
00:33:14 Supreme Court Rulings Explained
00:39:15 Anthropic AI Export Decision Revisited
00:42:09 What to Watch

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Today, Bloomberg’s Mike McKee discusses comments made by Kevin Warsh about the direction the Fed will take under his leadership. Then Bloomberg campaign finance reporter Bill Allison breaks down the billions in crypto investments revealed in President Trump’s annual financial disclosure. Plus, REAlloys CEO Lipi Sternheim discusses his company’s partnership with the US government to mine rare earths on US army bases. Finally, Bending Spoons CEO Luca Ferrari is joined by Bloomberg’s Bailey Lipschultz to discuss the web company’s $1.68 billion IPO.

Chapters
00:00:00 Bloomberg Businessweek Daily
00:01:23 Jobs Report Preview & Today’s Headlines
00:02:22 Market Update: Bending Spoons IPO, Meta & Fed
00:04:23 Central Bank Summit: Kevin Warsh’s First Global Appearance
00:05:55 Mike McKee Breaks Down Kevin Warsh’s Comments
00:08:25 Can the Fed Stay Independent?
00:10:01 Jobs Report Preview & Fed Rate Outlook
00:11:15 Trump’s Financial Disclosures & Crypto Fortune
00:12:20 Ethics, Blind Trusts & Presidential Investments
00:18:55 Market Update: Meta, Kroger & Bending Spoons
00:20:45 Rare Earths, China & Pentagon Strategy
00:22:05 ReAlloys CEO on Army Partnership
00:24:20 Building America’s Rare Earth Supply Chain
00:31:00 Why Rare Earths Matter for AI & Defense
00:34:20 Bending Spoons CEO on Going Public
00:39:35 AI, Data & Long-Term Acquisition Strategy
00:44:15 Can AOL Still Grow?
00:46:00 Life as a Newly Public Company
00:49:20 Nike Earnings & Turnaround Outlook
00:50:40 Meta Rallies on AI Cloud Expansion
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Power grids from Chicago to New York City are bracing for sky-high demand as sweltering heat begins to build across the eastern half of the US.  
Bloomberg News Meteorologist Rob Carolan breaks down what to expect as temperatures rise.
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“Bloomberg: The China Show” is your definitive source for news and analysis on the world’s second-biggest economy. From politics and policy to tech and trends, Yvonne Man and Avril Hong give global investors unique insight, delivering in-depth discussions with the newsmakers who matter.

Chapters:
00:00:00 – Bloomberg: The China Show opens
00:04:51 – Traders seek Japan’s next red line on Yen
00:07:57 – Bull or bear? Chinese markets have both
00:13:03 – Japan Investment Corporation’s Yuka Hata on investing in Japan
00:26:33 – Eastspring Investments’ Christina Woon on market outlook
00:34:56 – Nike says executive “comprehensive reset” in Greater China
00:39:58 – Breaking: RatingDog China June manufacturing PMI 51.7; Est. 52
00:40:39 – Yao Ming says basketball connects US and China
00:47:39 – Chinese communist party marks 105th anniversary
00:49:12 – AI boom powers emerging market stocks
00:52:10 – OCBC’s Christopher Wong on Yen, EMFX outlook
01:02:20 – Anthropic: US lifts restrictions on Fable 5
01:12:16 – Takaichi to visit India July 1-3 for talks with Modi
01:14:52 – ECB chief economist on inflation outlook
01:20:16 – Alert: Chinese President Xi gives speech in Beijing
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