Featuring some of our favorite conversations of the week from our daily radio show "Bloomberg Businessweek Daily."Hosted by Carol Massar and Tim StenovecHear the show live at 2PM ET on WBBR 1130 AM New York, Bloomberg 92.9 FM Boston, WDCH 99.1 FM in Washington D.C. Metro, Sirius/XM channel 121, on the Bloomberg Business App, Radio.com, the iHeartRadio app and at Bloomberg.com/audio.You can also watch Bloomberg Businessweek on YouTube - just search for Bloomberg Global News.Like us at Bloomberg Radio on Facebook and follow us on Twitter @carolmassar @timsteno and @BWSee omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.US employers unexpectedly cut jobs in July and hiring in the prior two months was revised lower, suggesting the labor market is weaker than previously thought after surprising strength earlier this year.Nonfarm payrolls decreased 23,000 last month following a combined 103,000 downward revision to the May and June figures, Bureau of Labor Statistics data showed Friday. The unemployment rate fell to 4.1% as labor force participation continued to slide, and wage growth slowed.The report suggests the labor market may be starting to falter amid rising prices and uncertainty from the Iran war, despite recent data showing strength in consumer spending and business investment. The data could also prompt the Federal Reserve to delay interest-rate increases as officials weigh inflation against risks to employment.US stocks opened higher and Treasury yields fell as investors reduced bets on a Fed rate hike in September. Still, upcoming reports on consumer prices — including data for July next week — could ultimately decide the Fed’s course of action next month.On this episode, Carol Massar and Tim Stenovec speak with: Mike McKee, Bloomberg TV and Radio International Economics & Policy Correspondent AND Matthew Luzzetti, Chief US Economist, Deutsche Bank Laura Ulrich, Director of Economic Research, Indeed on where the jobs are, hiring trends, AI in the jobs market Randall Williams, Bloomberg News Senior Reporter & Co-Host of ‘Business of Sports’ Podcast on latest podcast episode, sports streaming prices, FIFA latest Davide Barbuscia, Bloomberg News Corporate Finance Reporter on AI Debt Indigestion Forces Wall Street to Rethink Bond Sales See omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.OpenAI said the artificial intelligence models behind an attack on Hugging Face Inc. began communicating with each other through undetected message boards, working together to break out of their testing environment as early as May. The researchers said that the roots of the breach went back to when OpenAI scientists gave an experimental AI system a new task to complete, and the models demonstrated a propensity to cheat on their assignments and showed persistence in trying to complete a given task. The incident has fueled calls for more thorough safety reviews of AI models, and OpenAI has slowed its research to focus on enhancing responses to security anomalies, warning that governments and businesses should expect hackers to intentionally deploy AI agents in a similar fashion.For more, Carol Massar and Tim Stenovec speak with Maggie Eastland Bloomberg News Tech & Industrial Policy Reporter and Rachel Metz Bloomberg News AI Reporter See omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.US President Donald Trump has periodically spoken by phone with Federal Reserve Chair Kevin Warsh since he took the role, people familiar with the matter said, the latest sign of Trump’s effort to exert greater influence over the central bank.Trump and Warsh have spoken multiple times since the latter was confirmed in May, with Trump inquiring about Warsh’s forecasts and opinions but not pushing him to take any specific course of action, one of the people said, speaking on condition of anonymity to discuss the private conversations. One person said they speak irregularly, and another said their calls are infrequent. It’s unclear if the two have discussed monetary policy.“President Trump has repeatedly stressed that he is giving Chairman Warsh the space he needs to restore confidence and competence in Fed decision-making,” White House spokesman Kush Desai said in an emailed statement. “While the President has his First Amendment right as an American citizen and duty as Commander in Chief to voice his thoughts about the Fed, he has also repeatedly reaffirmed Chairman Warsh and the Fed’s independence.On this episode, Carol Massar and Tim Stenovec speak with: Mike McKee, Bloomberg TV and Radio International Economics & Policy Correspondent Enda Curran, Bloomberg News Senior Federal Reserve Reporter Hema Parmar, Bloomberg News Hedge Fund Reporter on Situational Awareness Returns to Investing With $400 Million Bet Matt Winkler,  Bloomberg News Editor-in-Chief Emeritus on 'Follow the Money All the Way to Carney’s Canada Adam Zambanini, CEO, Trex on earnings, state of manufacturing, competition in the sector, TAM, recyclables and materials/wood-alternative composite decking and residential railing products See omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Child safety online has become a national issue. The US surgeon general has called for warning labels on social media sites. Congress has held hearings taking CEOs to task. And lawsuits claiming harm to thousands of kids have been piling up in the courts.For more, Carol Massar and Tim Stenovec speak with Olivia Carville, Bloomberg News Investigative ReporterSee omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Kalshi is being defended by a team of Milbank lawyers in court fights that could upend US predictions markets, including a new suit by New York Attorney General Letitia James claiming the company operates as an illegal gambling business. The New York suit poses the greatest potential threat to Kalshi because state law gives the AG wide powers, and could potentially bring the company to its knees, according to sports betting and gaming attorney Daniel Wallach. The cases, which have yielded mixed results, could eventually be headed to the US Supreme Court, testing a Milbank litigation practice boosted by the addition of lawyers such as Neal Katyal and Josh Sterling.On this episode, Carol Massar and Tim Stenovec speak with: Robert DeNault, Head of Enforcement and Legal Counsel at Kalshi Larry Aschebrook, Founder & Managing Partner of G Squared and Bailey Lipschultz Wayne Ting, CEO at Lime Conn Davis, CEO of Byrna Technologies See omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.For the ultra-wealthy, paying taxes is increasingly becoming optional. In this episode, we break down a Bloomberg investigation revealing how quantitative giant AQR Capital Management and Wall Street competitors are using sophisticated "tax-aware" strategies to help the top 1% slash their tax bills to zero. We examine how leveraged separately managed accounts manufacture artificial short-side losses to wipe out massive capital gains, the explosive $70 billion boom behind these products, and why regulators are starting to scrutinize whether this high-tech financial engineering crosses the line.For more, Carol Massar and Tim Stenovec speak with Sri Natarajan, Bloomberg News Chief Wall Street CorrespondentSee omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.SpaceX’s revenue exceeded Wall Street’s expectations in the company’s first quarterly financial report following its blockbuster initial public offering in June.Elon Musk’s satellite, space and artificial intelligence conglomerate reported revenue of $7.8 billion on Tuesday, greater than than the $6.81 billion analysts polled by Bloomberg estimated on average.It also unveiled an operating loss of $1.26 billion from its AI business, better than the consensus for a loss of $2.39 billion. SpaceX’s eagerly awaited quarterly results cap a roller coaster ride since the company raised $86 billion in the largest stock-market debut of all time. Its shares have since plunged in a bout of post-IPO volatility and a broader AI selloff, erasing more than $1 trillion in market value from their peak along with Musk’s status as the world’s first trillionaire.On this episode, Carol Massar and Tim Stenovec speak with: Mandeep Singh, BI Global Head of Technology Research and Ed Ludlow, host of Bloomberg Tech Kate Gulliver, CFO, Wayfair Richard Bourke, Bloomberg Intelligence Senior Analyst, Metals & Mining on Copper Tops $14,000 as US Stockpiles Swell Before Tariff Call  See omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Joel Rieger, a former software sales executive, used AI to revive his automated options-trading program, which he had initially tried to build manually with limited success. Rieger's AI-assisted model has shown promising results, returning around 14% this year and outperforming the broader market, after initial losses due to incorrect volatility data and training mistakes. The use of AI in trading is seen as a democratizing force, allowing individual investors to access sophisticated algorithms and strategies previously reserved for hedge funds, but it also poses risks, such as amplifying losses and guiding investors into complex trades. For more, Carol Massar and Tim Stenovec speak with Bernard Goyder, US Options ReporterSee omnystudio.com/listener for privacy information.

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump said his latest offer of talks is a “last chance” for Iran after he called off what he said was a major attack on the Islamic Republic. Iran denied it was negotiating with the US, but said talks with Oman to get more ships moving through the Strait of Hormuz are making progress. Despite the conflicting signals, the suggestions of renewed diplomacy pushed oil prices lower on Monday, with Brent crude down about 4.6% to just under $84 a barrel. “I want to give them every last chance before decapitation,” Trump told reporters in the Oval Office. “You’ll find out today or tomorrow. I mean, they’re going to go quickly, one way or the other. It’s not very complex.” It wasn’t clear what negotiations Trump was referring to or who was involved. He’s repeatedly cited diplomatic efforts when he backed off threats of military escalation only to see talks fail. US and Israeli strikes at the start of the war killed much of Iran’s senior leadership. On this episode, Carol Massar and Tim Stenovec speak with: Jeff Mason, Bloomberg News White House and Washington Correspondent Torsten Slok, Chief Economist at Apollo Global Management Lizzie Dove, US Gaming, Lodging and Leisure Research Analyst at Goldman Sachs recaps Hyatt, Marriott earnings, state of leisure sector amid summer travel Ran Eliasaf, Founder & Managing Partner of Northwind Group on the state of Commercial Real Estate See omnystudio.com/listener for privacy information.