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

NYC mayoral candidate Zohran Mamdani is leaning on a socialist campaign designed to appeal to some of the city’s most marginalized voters, positioning him with a shot at becoming the leader of capitalism’s citadel. Read here for the full story ahead of NYC’s primary mayoral election: https://lnkd.in/etUn5_Az 📷️: Madison Swart/Hans Lucas/AFP via Getty Images

You can find some strange things in New York City, but an elevator for horses? Yeah, it's a thing. Explore one of the last horse elevators with us bloom.bg/4em5m3p

WE’RE HIRING: Bloomberg Opinion is seeking a Video Producer to join our team in DC! In this 12-month contract role, you’ll join our global video team and work alongside our DC columnists in all aspects of the video editorial process – from idea generation and script writing to directing video shoots and post-production. We’re looking for someone who: ✅ Can edit and produce engaging short-form vertical videos on a daily basis for our core Bloomberg audience ✅ Can direct engaging live stream webinars with a panel of columnists from an online studio ✅ Can identify key trends and track, analyze, and report on video performance ✅ Tracks the latest news and ideas surrounding business, markets, economics, politics and technology ✅ Thrives in news and deadline-driven environments This is a hybrid role that would involve flexibility to regularly conduct video shoots in and around Bloomberg’s DC bureau. Apply here: https://lnkd.in/exDtcgif

Hotter weather in Europe this summer risks driving up demand while causing output from hydropower and nuclear plants to fall

🎥 So I used to think prepping was a pastime of the paranoid. But I’ve recently changed my view: In our increasingly volatile world, where climate change intensifies the likelihood and severity of extreme weather and geopolitics is running hot, taking steps to improve your household’s resilience is common sense. 📄 Read the piece for free over at Bloomberg Opinion https://lnkd.in/dtbYCxNT

The $29trn Treasury market needs to trade reliably. Leverage reform should help that without being a capital giveaway for the biggest US banks. But it still doesn’t look like driving demand for bonds as Bessent hopes. See how it could effect Bank of America, Citi, Goldman Sachs, JPMorganChase, Morgan Stanley and Wells Fargo. Read more at Bloomberg Opinion https://lnkd.in/emTkYzAz

If you come home early from vacation and find robbers ransacking your house, you could call the police and try to stop the crime. But the true alpha move would be to help the robbers load your valuables onto the truck and then tell them which of your neighbors are also on vacation in exchange for a cut of the profits. Banks are choosing the alpha option, basically abetting theft from themselves by backing new projects to extract and burn fossil fuels, thus stoking the planetary heating that stunts economic growth and their own insurance and mortgage businesses. Gift link to my column for Bloomberg Opinion https://lnkd.in/egD_qE2G

Masayoshi Son is dreaming big again. This time it's “Project Crystal Land” in the US. The SoftBank founder is pitching TSMC and Samsung on the idea of an industrial complex in the US to build robots and AI, with the potential to reach a trillion dollars. He envisions an American version of China’s Shenzhen that would bring back high-tech manufacturing to the US. SoftBank officials have spoken with federal and state government officials to discuss possible tax breaks for companies building factories or otherwise investing in the industrial park, including talks with US Secretary of Commerce Howard Lutnick. Gift link below for seven days. https://lnkd.in/gErwVhn6

The Senate rules-keeper has decided that Republicans can’t use President Donald Trump’s multi-trillion dollar tax bill to strip all funding from the Consumer Financial Protection Bureau and to cut salaries for many Federal Reserve employees.