Bloomberg Talks

Jim Zelter, President of Apollo Global Management, dives into the dynamic world of credit markets and AI data center financing. He shares insights on Apollo's impressive asset growth and their strategic focus on proprietary origination. Zelter addresses the implications of recent bank failures, dismissing fears of a widespread credit crisis. He also emphasizes cautious investment in the booming AI data center sector, advising on smart positioning in rapidly changing tech assets. Tune in for a mix of market wisdom and finance strategy!

Mike Doustdar, the newly appointed CEO of Novo Nordisk, faces the challenge of disappointing sales for their key drugs, Wegovy and Ozempic. He discusses strategic priorities, including expanding patient access and the rationale behind the recent acquisition of Metzera to enhance their product offerings. Doustdar also touches on competitive dynamics with Eli Lilly and emphasizes the importance of adapting to patient preferences between pills and injections. Additionally, he shares insights into engaging with the U.S. administration on pricing negotiations.

Kathy Wylde, President and CEO of the Partnership for New York City, offers keen insights into the NYC mayoral election's impact on businesses and the economy. She highlights record voter turnout and the emergence of a young nominee, emphasizing the need for political stability and affordability. Kathy explains the limitations on the mayor's tax authority and discusses housing challenges, advocating for swift affordable housing solutions. With rising migration risks due to high living costs, she also shares how public-private partnerships could be crucial in navigating fiscal constraints.

U.S. Representative Robert Menendez from New Jersey discusses the gubernatorial race with host Romaine Bostick. Menendez highlights Mikey Sherrill's campaign momentum and emphasizes voters' concerns over affordability and state defense. He tackles rising electricity costs and proposes innovative funding solutions for infrastructure without hiking taxes. Menendez also addresses the importance of attracting small businesses and shares insights on the impact of the government shutdown on local priorities, ultimately predicting a victory for Sherrill.

In this engaging conversation, New Jersey Attorney General Matt Platkin, an expert in election security, dives into the critical issues surrounding the gubernatorial election. He reassures voters about responses to recent polling-place bomb threats, detailing how law enforcement swiftly managed the situation. Platkin also emphasizes the importance of voter turnout, highlighting the state's expanded voting access. Additionally, he discusses President Trump's threats to cut funding and assures listeners of legal preparations to defend New Jersey's interests.

David Solomon, the Chairman and CEO of Goldman Sachs, shares insights on U.S.-China trade relations and the implications of a one-year truce. He discusses the mixed sentiment among investors regarding Chinese IPOs and highlights Goldman's competitive edge in global markets. Solomon also delves into the future of M&A activity, indicating a robust environment for strategic consolidation. Furthermore, he reveals how AI is poised to transform operations at Goldman, emphasizing efficiency and growth despite potential job shifts.

Brad Lander, NYC Comptroller and former mayoral candidate, dives into the hot topics surrounding the mayoral race. He passionately defends Zoran Mamdani's vision for city finances and discusses how vital policies like childcare investment can boost productivity. Lander emphasizes the importance of keeping Jessica Tisch as Police Commissioner for continuity in safety. He also shares insights on post-election unity and highlights Mamdani’s resonance with voters through a message of affordability and hope.

Sadiq Khan, the Mayor of London and chair of C40 Cities, discusses pressing climate issues at COP30. He emphasizes the vital role cities play in tackling the climate emergency and shares optimistic expectations for COP30 outcomes. Khan advocates for the UK government to prioritize climate action across all sectors and defends London’s progressive stance in the New York mayoral race. He also reflects on the responsibilities of leading a global city and the importance of serving all residents, regardless of their wealth.

In this engaging discussion, Mike Mayo, Head of U.S. large-cap bank research at Wells Fargo Securities and a leading bank analyst, shares insights on Bank of America's need for updated growth strategies. As he emphasizes the importance of clear return targets and actionable plans, he highlights areas where the bank has lagged, such as wealth management and card services. Mayo also discusses the significance of the upcoming Investor Day, where succession plans and a roadmap for growth will be unveiled, ensuring a timely and vital conversation for investors.

Mike Wilson, Chief U.S. Equity Strategist at Morgan Stanley, dives into critical insights on the economy and Federal Reserve policies. He argues that the Fed is lagging in rate adjustments, which hampers broader recovery. Wilson explains the transition from consumption to capital investment, emphasizing a robust, evolving economy. He also discusses the implications of rising capex in tech and how it affects market leadership, while highlighting the potential for a sustained recovery if the Fed cuts rates. Tune in for a fascinating economic outlook!