Bloomberg This Weekend

Shares of SpaceX climbed in their first day of trading on Friday following a $75 billion IPO that smashed records and instantly turned the crown jewel of Elon Musk’s empire into one of the most valuable public companies in the world.  The stock climbed as high as $176.52, or 31% above its offering price, less than two hours after the shares started trading shortly before noon in New York. The jump in price turned Musk into the world’s first trillionaire and sent the company’s market capitalization above $2 trillion.  For instant reaction and analysis, Bloomberg's Kailey Leinz speaks with: Yahaira Anand, Bloomberg Television Reporter Craig Trudell, Bloomberg News Managing Editor of Global Business Coverage Ed Ludlow, Bloomberg Tech co-host See omnystudio.com/listener for privacy information.

President Donald Trump expressed interest in the US government holding equity stakes in leading artificial intelligence developers, saying that he planned to discuss the idea of a partnership with AI companies’ executives as soon as next week. Trump said he had already spoken to the companies about the idea, though he offered no specifics on those conversations. In his remarks, he addressed news reports that the administration would put the stock into a government-run wealth fund that would redistribute some of the financial windfall to the public and signaled his openness to that idea. President Trump also said he will attend the NBA finals at Madison Square Garden on Monday. The Knicks have won both games of the NBA Finals so far against the San Antonio Spurs. Resale tickets for the game are being sold for thousands of dollars. On today’s show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo speak with: - Annmarie Hordern, Co-Host of Bloomberg Surveillance and Bloomberg Television Chief Political Correspondent, on President Trump's comments to reporters on Air Force One regarding a meeting next week with "all of the big" AI companies. - Grindr CEO George Arison, who says that companies concerned about AI spending are "not well-managed," and speaks about the app looking to expand its offerings into live events.  - Danielle Muoio Dunn, State Tax Policy Journalist at Bloomberg Tax, on New York offering a tax credit to keep Broadway shows from opening in other cities. Plus, David, Christina, and Lisa play Pointed: The News Quiz for Risk Takers. For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video. See omnystudio.com/listener for privacy information.

US Defense Secretary Pete Hegseth praised defense allies in Asia and hailed newly stable ties with China, while taking swipes at longstanding security partners in Europe. The comments, made Saturday at an Asia security forum in Singapore, are the latest sign of the Trump administration shifting attention toward the Indo-Pacific while expressing antagonism toward Europe and the NATO alliance.  Hegseth singled out allies such as South Korea, Japan and the Philippines for “stepping up” on defense while lambasting European nations that “threw open their borders and hollowed out their militaries.” His comments and omission of Taiwan in his address marked a shift in tone, with some interpreting it as a sign of a softer stance on China and a focus on "constructive strategic stability" in the US-China relationship. On today’s show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo speak with: - Haslinda Amin, Bloomberg News Editor-at-Large at the Shangri-La Dialogue in Singapore, and Bloomberg's Washington Deputy Bureau Chief Laura Davison, on the wait for a deal in Iran. - Dr. Tom Frieden, Former CDC Director, on the push to contain the fast-moving Ebola outbreak in the Democratic Republic of Congo, and questions surrounding global preparedness for another pandemic. - Bloomberg News Texas Bureau Chief Julie Fine, and The New York Times Texas Bureau Chief David Goodman, on Texas Attorney General Ken Paxton defeating Senator John Cornyn in a GOP primary, and what to expect from the general election against Democrat James Talerico. Plus, David, Christina, and Lisa play Pointed: The News Quiz for Risk Takers For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video. See omnystudio.com/listener for privacy information.

Persian Gulf nations and Pakistan stepped up efforts to transform a fragile truce in the Iran war into a permanent peace deal, with US President Donald Trump again signaling that the conflict may end soon.   Field Marshal Asim Munir, Pakistan’s army chief and the favored interlocutor between the US and Iran, visited Tehran Friday for discussions on an accord with Iranian Foreign Minister Abbas Araghchi that lasted late into the night. Araghchi held separate talks with his counterparts in Oman, Turkey, Qatar and Iraq, and United Nations Secretary General António Guterres, the Iranian Foreign Ministry said.  The US and Iran have major disagreements on issues such as Iran's nuclear program and the rights to control traffic through the Strait of Hormuz, a crucial passageway for global energy supplies.On today’s show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo speak with: - Bloomberg News White House Correspondent Kate Sullivan on President Trump’s next steps in Iran after the President canceled plans to attend his son’s wedding.  - Retired US Army General & Former CIA Director, David Petraeus, gives his opinion on how the United States are handling the conflict in Iran, as well has what to expect from his meetings with world leaders to discuss all of the global conflicts around the world. - Jeremy Konyndyk, Refugees International President & Former Executive Director of the USAID COVID-19 Task Force, on the World Health Organization upgrading the Ebola outbreak risk assessment to “very high” in the Democratic Republic of Congo. - Wayback Burgers CEO Patrick Conlin on how rising food costs are affecting the “fast casual” industry ahead of Memorial Day.Plus, David, Christina, and Lisa Mateo play Pointed: The News Quiz for Risk Takers For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video. See omnystudio.com/listener for privacy information.

President Trump returned to the White House after a summit in Beijing with Chinese President Xi Jinping. Xi warned that Taiwan could lead to "clashes" between the US and China, calling it a "highly dangerous situation" for the world's biggest economies. Trump must now decide whether to approve a $14 billion US arms sale to Taiwan, which could unleash a bipartisan backlash in Washington or face Beijing's wrath if the deal is approved.The Long Island Rail Road, the nation’s busiest commuter line, suspended service for the first time in more than 30 years after labor groups and transit officials failed to reach a deal on wage increases by a Friday night deadline. About 3,500 engineers, electrical workers and signalmen walked off the job Saturday for the first time since 1994.On today’s show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo speak with:- Bloomberg News Chief North Asia Correspondent Stephen Engle and White House Correspondent Courtney Subramanian, on President Trump saying that Taiwan was the most important issue coming out of the summit.- Bloomberg News Reporter Michelle Kaske on the Long Island Rail Road suspending service and the state of the negotiations.- Fortesa Latifi, Journalist & Author of “Like, Follow, Subscribe: Influencer Kids and the Cost of a Childhood Online” on why some are concerned about the growing industry of child influencers.Plus, Bloomberg News Senior Executive Editor Dave Merritt joins to play Pointed: The News Quiz for Risk Takers.For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.See omnystudio.com/listener for privacy information.

The UK will deploy one of its warships to the Middle East as part of planning for a European-led mission to escort ships through the Strait of Hormuz once there’s a stable ceasefire. The move comes as Iran weighs a new proposal from the US to end the war, which has been going on for 10 weeks. The ship has just completed weapons system testing off the coast of Crete and was deployed to help defend Cyprus at the start of the conflict.  Also this morning, a cluster of hantavirus infections linked to a cruise ship in the Atlantic Ocean has left three people dead and several others seriously ill, prompting an alert from the World Health Organization and raising questions about how a rare rodent-borne disease might spread in such an unusual setting. On today’s show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo speak with: - Bloomberg News White House Correspondent Jeff Mason on the status of the Strait of Hormuz and what to expect ahead of a summit between President Trump and China's Presdient Xi Jinping. - Dr. Ashish Jha, Former White House COVID Response Coordinator, on how the Hantavirus is transmitted and the quarantine process for American passengers on an infected cruise ship. - Representative Ro Khanna of California (D) on the redistricting efforts in the Virginia Supreme Court, a push to release the remaining files from the investigation into Jeffrey Epstein, and this week's Trump-Xi meeting. - Daniel Dae Kim on his new CNN series "K-Everything" and the popularity of South Korean culture. Plus, Christina, David, and Lisa discuss the stories you might have missed this week on BTW.  For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.See omnystudio.com/listener for privacy information.

Spirit Airlines is winding down operations after the troubled US discount carrier buckled under the weight of surging fuel prices and a government bailout dangled by President Trump fell through. All Spirit flights have been canceled, and passengers have been advised not to go to the airport, after the airline failed to secure a deal with the Trump administration for funding. Transportation Secretary Sean Duffy spoke hours after Spirit ceased operations, leaving passengers and employees stranded across the US. He announced measures to support those passengers, saying several carriers including United, Delta, Southwest and JetBlue agreed to cap prices or reduce fares for customers impacted by the shutdown. On today's show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo speak with: - The Points Guy Managing Editor Clint Henderson, GasBuddy's Head of Petroleum Analysis Patrick DeHaan, and Bloomberg White News White House Correspondent Jeff Mason, on what Spirit's closure means for consumers. - Bloomberg Opinion Energy & Commodities Columnist Javier Blas on the ongoing threat to global energy supplies amid the war in Iran. - Actor and director Ben McKenzie on his film Everyone is Lying to You for Money, an investigation into cryptocurrency, and his sit-down with Sam Bankman-Fried. - Bloomberg News Managing Editor David Papadopoulos on betting against the odds in the Kentucky Derby. For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.See omnystudio.com/listener for privacy information.

Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz break down the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance. Federal Reserve officials left interest rates unchanged, but revealed a deepening division over the outlook for policy amid increased uncertainty caused by the conflict in the Middle East.Four officials voted against the decision, including three who objected to language in their post-meeting statement that suggested the central bank would eventually resume cutting rates.See omnystudio.com/listener for privacy information.

President Donald Trump will send envoys to Pakistan with the intention of meeting with Iranian officials, while Tehran sounded a pessimistic tone on the prospects for talks to end the eight-week war roiling the global economy. Special envoy Steve Witkoff and the president’s son-in-law Jared Kushner are set to depart Saturday for talks this weekend, White House Press Secretary Karoline Leavitt said in a Fox News interview on Friday. Iran's Foreign Minister Abbas Araghchi will meet only with Pakistani officials to convey Iran’s “observations,” with no talks planned with the US delegation, a spokesman for Iran’s Foreign Ministry said Saturday. Leavitt claimed the Iranians had reached out to the US to arrange the fresh round of talks.  On today's show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo are in Washington DC for the White House Correspondents' Dinner. They speak with: - Bloomberg News Reporter Eric Martin on Rubio and Vance remaining in the US, and Texas Representative Michael McCaul (R), who says the US-Iran talks are unlikely to reach a breakthrough. - S&P Global Vice Chairman Dan Yergin on the uncertainty over the oil trade as the Strait of Hormuz remains blocked. - Bloomberg CityLabs writer Kriston Capps on how the President is "Trumpifying" DC architecture. Plus, Christina, David, Jeff Mason, and Lisa Mateo play Pointed: The News Quiz for Risk Takers. For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.See omnystudio.com/listener for privacy information.

Iran broadcast to ships in the Strait of Hormuz that the vital oil and gas channel is once again closed to maritime traffic, with owners reporting gunfire in the waterway and ships abandoning efforts to transit after a brief spell when it appeared it might reopen.  The fresh closure was the culmination of hours of chaos and confusion that saw some ships race to get out, only to U-turn. One supertanker issued a radio broadcast that it was coming under gunfire, the two shipowners said, asking not to be identified because of the security situation. A UK naval group also warned that a tanker was approached by two Iranian gun boats and fired upon without warning. It subsequently reported another ship was hit by an unknown projectile.  On today's show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo speak with: - International Maritime Organization Secretary General Arsenio Dominguez, Former Deputy Assistant Secretary of State for Iraq and Iran under President Trump, Andrew Peek, and Former Acting Principal Deputy Assistant Secretary for the Bureau of Near Eastern Affairs under President Biden, Jennifer Gavito, on an intensified US blockade amid reported gunfire in the Strait. - Gary Gensler, Former Chair of the US Securities & Exchange Commission, on an investigation into prediction market trades in the oil futures market ahead of recent policy pivots by President Trump. - Puck Founding Partner Bill Cohan and Bloomberg TV Anchor Dani Burger, on why major banks are shaking off fears around private credit. - Boston Globe Reporter Emily Sweeney on her viral accent and how journalism is pivoting in the social media age. For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.See omnystudio.com/listener for privacy information.

The US and Iran began negotiations on Saturday to end the conflict in the Middle East. Around 5:45pm in Islamabad, Iran’s semi-official Fars news agency said talks had begun, without specifying whether they are being conducted directly or through intermediaries. US Vice President JD Vance landed in Pakistan’s capital, joined by special envoy Steve Witkoff and Trump’s son-in-law Jared Kushner for talks aimed at cementing a lasting resolution to a six-week conflict after a fragile ceasefire took hold several days ago. On today's show, Bloomberg This Weekend hosts Christina Ruffini, Tim Stenovec, and Lisa Mateo speak with: - Bloomberg News Israel Bureau Chief Ethan Bronner, Bloomberg News White House Correspondent Catherine Lucey, and AP International Correspondent Philip Crowther, on the US delegation meeting with  Pakistan's Prime Minister Shehbaz Sharif. - Going.com Travel Expert Katy Nastro, on how the war in Iran could impact summer travel costs. - Arthur Brooks, Author of "The Meaning of Your Life," on how to achieve happiness in the digital era. Plus, Christina, Tim, and Lisa play Pointed: The News Quiz for Risk Takers. For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.See omnystudio.com/listener for privacy information.

US forces rescued an airman from Iran days after his fighter jet was shot down, while the Islamic Republic’s continued attacks sparked fires that damaged Kuwait’s oil headquarters and shut down an Emirati petrochemicals plant. The US deployed dozens of aircraft to retrieve the injured crew member from a mountainous area, a day after a second person from the same F-15E jet was rescued, President Donald Trump said in a Truth Social post Sunday. Earlier, Trump threatened to unleash “all hell” on Iran, saying the time left on the 10-day deadline for it to make a peace deal with the US was running out. On today's show, Bloomberg This Weekend hosts Christina Ruffini and Joe Mathieu speak with: - Bloomberg News White House Correspondent Jeff Mason and Bloomberg News Jerusalem Reporter Dan Williams, on the successful rescue of the second American airman in Iran, and Trump's threat of a Tuesday strike on Iran's power plants and bridges. - TMZ Founder Harvey Levin, on TMZ's push to cover members of Congress on vacation. - Longtime Caddy for Phil Mickelson, Jim "Bones" Mackay, and IBM's SVP for Marketing & Communications, Jonathan Adashek, on IBM's collaboration with The Masters. Plus, Christina, Joe, and Lisa Mateo discuss the stories you might have missed this week on BTW. For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.See omnystudio.com/listener for privacy information.

President Donald Trump said the war in Iran is “very close” to completion, even as he signaled strikes could escalate in the near term.  Trump in a rare prime-time address on Wednesday cast the war as a success, saying the operation had nearly achieved its military goals, including destroying Iranian ballistic missiles and drones, air force, navy and industrial base. He said those steps would prevent Tehran’s proxies from destabilizing the region and cut off the country’s path to nuclear weapons.“Tonight I’m pleased to say that these core strategic objectives are nearing completion,” Trump said from the White House in a roughly 20-minute speech. “We are going to finish the job. and we’re going to finish it very fast, we’re getting very close.”The speech came as the president is grasping for an off-ramp in a conflict that has quickly slipped out of control. For instant reaction and analysis, Bloomberg Radio host Doug Krizner speaks with Bloomberg This Weekend co-host Christina Ruffini and Bloomberg White House and Washington correspondent Jeff Mason.See omnystudio.com/listener for privacy information.