Bloomberg News

Welcome to Bloomberg’s new Banking Industry Monitor, bringing to you the top news on the global banking industry with emerging trends, winners and losers and market opportunities. Sign up: bloom.bg/4e65HY2 From the first edition: The war for talent and coping with regulators were recurring themes this week, along with signs that the drought in deal-making is still a drag on profits. Read more: bloom.bg/3HwT1NE

RFK Jr. and other government officials are openly questioning the safety of fluoride. That's been good news for toothpaste brands that don't use the mineral

Patagonia CEO Ryan Gellert shares how the famously climate-focused company is redefining responsible business and navigating today's economic and political shifts at #BloombergGreen. bloom.bg/3GdTS5c

Trump's Treasury Department is considering proposals that could threaten hundreds of colleges' financial stability by removing their tax-exempt status

How does the cost of building in New York or California compare with South Florida? “It is much easier to build here," says Jorge Pérez, founder of Related Group, the largest private affordable housing owner based in Miami. But what keeps him up at night? Affordability. Watch the full episode of Bullish on the Bloomberg app https://bloom.bg/4n4Ih9l

Bloomberg's reported that the IRS is mulling a rule that would strip universities of tax-exempt status if they give any consideration to race or national origin in student admissions, scholarships, and well beyond -- even if they're at private institutions or backed by private donors. Using the IRS to further policy aims isn't unprecedented -- but it's uncommon, and has faced backlash in the past. If undertaken, the rule could theoretically mark the end of any scholarship programs for Black doctors, for example, or for people for Canada -- and could ultimately set precedent that some experts believe would reach beyond race, and perhaps even to non-profits more generally. Had the pleasure to work with Elizabeth Rembert + Amanda Albright on this follow-up to Todd Gillespie and Janet Lorin's excellent scoop last week. Thanks to Armand Alacbay, Adam Kissel, Adam Stern, Robert Romashko, Phil Hackney, Megan L. Brackney for their sharp insights. Read more here (gift link): https://lnkd.in/gC2pV2hN

Reynolds American Inc. today said it is making changes to some of its DEI programs, particularly those related to LGBTQ sponsorships and Biden-era affirmative-action programs, two weeks after anti-DEI activist Robby Starbuck launched a campaign against them. Interestingly, the company communication to employees specifically mentions it will review gender-affirming care for minors. The company already doesn't cover surgery for minors. I'm wondering if other companies are also reviewing that coverage in the current environment, but not being transparent about it. Gift link to the story is in the comments.

Crumbl has built its viral desserts into a big business, and now Wall Street wants a taste of the oversized sugary cookies. Will Kubzansky reports bloom.bg/4kRwCt2

$14 billion raised so far and it'll just about run out by the end of this month -- that's the staggering losses of Elon Musk's xAI. The company is out now trying to raise another $9.3 billion, according to a Bloomberg report. In today's column I question whether the cash burn will ever end. Grok has some serious disadvantages against other chatbots/AI models, making this a particularly risky bet in an ocean of risky bets. Read on Bloomberg Opinion here (gift link!): https://lnkd.in/emvNJ-AE #ai #elonmusk #xai

Investor and sports team owner David Blitzer breaks down the connection between youth sports and long-term returns. He shares his take with Jason Kelly and Alex Rodriguez Watch the full episode of The Deal on the Bloomberg app or listen wherever you get your podcasts https://lnkd.in/exqzTyw5