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Brazilian fintech company PicPay launched in 2012 as a digital wallet and now operates as a full-service digital bank with nearly 66 million customers. Controlled by the Batista family, owners of JBS, PicPay has posted strong revenue and profit growth, becoming one of the first major Brazilian companies to tap US equity markets since Nu Holdings’ blockbuster IPO in 2021. The offering was led by Citigroup, Bank of America, and Royal Bank of Canada.  Eduardo Chedid is the CEO of PicPay. He has more than 20 years of experience in the electronic payment sector and has helped build PicPay into Brazil's third-largest digital bank. Eduardo discusses to firm's US market debut, and prospects for continued growth in the fintech sector with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. 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.Elon Musk plans to merge SpaceX with xAI, according to people familiar with the matter, in a deal that encompasses the billionaire’s increasingly costly ambitions to dominate artificial intelligence and space exploration.The deal was announced in a memo on Monday, the people said, asking not to be identified as the information isn’t public. The combined company is expected to price the shares at about $527 each, and would have a valuation of $1.25 trillion, some of the people said.Representatives for SpaceX and xAI didn’t immediately respond to requests for comment.Bloomberg News earlier reported on the discussions. SpaceX is planning an initial public offering that could raise as much as $50 billion, Bloomberg News has reported. It also discussed a possible merger with Tesla.The deal brings together two of the largest closely held companies in the world. XAI raised funds at a $230 billion valuation in January, while SpaceX was set to go ahead with a share sale in December at about a valuation of about $800 billion, Bloomberg reported, and is exploring a possible IPO.It also further entangles Musk’s various business ventures. The billionaire acquired social media platform Twitter in late 2022, renamed it X, then merged the site with his artificial intelligence startup xAI in a $33 billion deal. XAI, which also operates chatbot Grok, is an expensive operation, burning around $1 billion a month in service of its stated ambition to gain “a deeper understanding of our universe.” A merger with SpaceX pools capital, talent, access to compute — and blurs corporate boundaries.The tie-up may crystallize Musk’s vision to put data centers in space to do complex computing for AI. SpaceX is requesting permission to launch as many as a million satellites into the Earth’s orbit for the plan, according to a filing Friday.Today's show features: Gil Luria, Managing Director and Head of Technology Research at DA Davidson, breaks down quarterly earnings from Palantir and and Elon Musk's plans to merge SpaceX with xAI Bloomberg Tech Co-host Ed Ludlow on how Elon Musk aims to dominate both artificial intelligence and space exploration Jayati Bharadwaj, Director of FX Strategy at TD Securities, on the recent weakening in the US dollar Paisley Nardini, Head of Multi-Asset Solutions at Simplify Asset Management, on why she sees the rotation trade into value stocks taking hold   See omnystudio.com/listener for privacy information.

Aon's initial 2026 margin guidance is slightly better than analyst estimates, on the heels of a solid fourth quarter. Bloomberg Intelligence notes that organic growth was in line with Wall Street as upside in reinsurance offset a miss in health. The 2025 result of 6% is close to the previous three years but better than peer Marsh. The consolidated adjusted operating margin beat consensus and expanded from a year earlier making the 2025 result also better than estimates.Edmund Reese, Executive Vice President and Chief Financial Officer of Aon, discusses the key risks facing the firm in 2026 and how it is positioning itself to better serve clients and stakeholders amid global uncertainty. Edmund speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

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 @BW 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. Kevin Warsh waited almost a decade before finally clinching President Donald Trump’s nomination to be chair of the Federal Reserve. He won’t need to wait as long before his first big test in the job. Having won the race with a promise of “regime change” at the Fed, suggesting he would make significant changes, Warsh has pledged to shrink the Fed’s balance sheet and argued that a productivity boom driven by artificial intelligence will keep inflation low. While that prognosis was enough to convince Trump, his Fed pick will now need to convince fellow policymakers and investors. After cutting rates three times late last year the Fed hit pause in January amid persistent inflation, signs of a stabilizing labor market and expectations for stronger growth in 2026. Traders aren’t pricing another rate cut until June, at the earliest. The tension in Trump’s demand for cheaper borrowing costs may ultimately be resolved by a weakening labor market or lower inflation. Such a backdrop would greenlight Warsh to push for more rate cuts, and possibly win support from other policymakers.Today's show features: Bloomberg TV and Radio International Economics & Policy Correspondent Michael McKee on President Donald Trump’s intent to nominate Kevin Warsh to be the next chair of the Federal Reserve Katy Kaminski, Chief Research Strategist and Portfolio Manager at AlphaSimplex Group, on the bond market and expectations for the Federal Reserve’s next leader Jan van Eck, Chief Executive Officer of VanEck Funds, on the stock and commodities market outlook and investing through ETFs Ellen Wald, President of Transversal Consulting and Senior Fellow at the Atlantic Council, on earnings from Exxon and Chevron, and the energy market amid unrest related to events in Iran and Venezuela See omnystudio.com/listener for privacy information.

The Trump administration has pushed a sweeping policy agenda intended to hinder immigration. This has included a move in September to increase the fees on H-1B visa applications to $100,000 apiece, a staggering tenfold hike, along with other changes that have made the program less desirable to employers. Foreign-born residents are facing increasing hostility from Washington, regardless of their legal status. For many, the long-term viability of a career in Silicon Valley seems less certain than ever. India is trying to attract skilled professionals to return home with policies like Bharat-Talent and Bharat-Return, and some foreign-born tech workers are already pivoting to the world's most populous country, where the tech industry is maturing and offering new opportunities. Saritha Rai details these developments in a Bloomberg Businessweek magazine, and speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. 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. Apple Inc.’s revenue in the holiday quarter trounced Wall Street estimates, driven by strong demand for the new iPhone 17, growth in services and a rebound in China. Revenue jumped 16% to $143.8 billion in the period that ended Dec. 27, setting a record, the company said in a statement Thursday. Analysts had estimated $138.4 billion on average, according to data compiled by Bloomberg. Apple’s own projections were for an increase 10% to 12%. “IPhone had its best-ever quarter driven by unprecedented demand, with all-time records across every geographic segment,” Chief Executive Officer Tim Cook said in the statement. The results reflect the success of Apple’s latest iPhone, a product line that accounts for roughly half its revenue. Higher-end versions of the device have been especially popular, helping further fuel sales and profit for the company. Apple’s renewed growth should help ease concerns about its artificial intelligence push, which is getting an overhaul this year after recent stumbles. The performance also suggests that the company is coping with tariffs, which Apple previously said would create a $1.4 billion headwind in the quarter. Today's show features: Bloomberg News Managing Editor for Global Consumer Tech Mark Gurman on Apple’s last financial numbers Bloomberg Tech Co-Host Ed Ludlow dissects Apple’s earnings report Tom Narayan, Lead Equity Analyst, Global Autos at RBC Capital Markets, on Tesla earnings and the broader car market Lauren Goodwin, Economist and Chief Market Strategist at New York Life Investments on geopolitical risks in markets and the weakening US dollar See omnystudio.com/listener for privacy information.

SpaceX has lined up four banks to lead its initial public offering, according to people familiar with the matter, as Elon Musk’s rocket and satellite firm moves forward with plans for the biggest-ever listing. The company sees Bank of America Corp., Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley in senior roles, the people said, asking not to be identified as the information isn’t public.Kelly Rodriques is the CEO of Forge Global, a leading provider of marketplace infrastructure, data services, technology and investment solutions for the private market. The firm was recently acquired by Schwab in a deal expected to close this year. Kelly breaks down Forge’s latest data highlighting 2025 private market performance and expectations for the IPO market in 2026, including a protentional mega-offering for SpaceX. He speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Stamatis Tsantanis is the Chairman and Chief Executive Officer of Seanergy Maritime Holdings Corp. He joined the Company in 2012 and led its rise to a world-renowned pure-play Capesize company listed in the US, with cargo carrying capacity exceeding 3.4 million deadweight tons. Stamatis is also the Founder, Chairman and Chief Executive Officer of United Maritime Corporation, an independent diversified public shipping company that was initially established as a subsidiary of Seanergy. The two companies have a combined fleet of 25 ships sailing around the world, with each measuring roughly the size of two football fields and hauling a variety of dry bulk commodities to various destinations. Stamatis discusses the health of the global shipping industry and how exogenous events such as wars and other geopolitical tensions affect his business. He speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Wall Street traders sent stocks to all-time highs on speculation that solid corporate earnings will keep powering market gains. The dollar slid to an almost four-year low. Gold held above $5,000. Not even a slump in consumer confidence prevented a fifth day of gains for the S&P 500, which approached 7,000. United Parcel Service Inc. gave a bullish outlook. The Nasdaq 100 rose 0.9% before results from megacaps. UnitedHealth Group Inc. led losses in insurers on a disappointing forecast and as the US proposed holding payments to private Medicare plans flat next year. The dollar slid to its lowest since February 2022 as signs of US support to boost the yen reinforced the argument about potential coordinated intervention to guide the greenback lower against key trading partners. On the eve of the Federal Reserve decision, Treasury yields edged up. The central bank is projected to halt its rate-cutting cycle as a steadier jobs market restores a degree of consensus among officials after months of growing division.The expected decision to hold rates is likely to amplify the outrage of President Donald Trump, who wants them slashed.Today's show features: Bloomberg News FX and Rates Reporter Carter Johnson on the US dollar weakening to its lowest level in four years Sheila Kahyaoglu, Managing Director in Equity Research at Jefferies, on Boeing’s quarterly results and the outlook for aviation and aerospace industries Bloomberg News Senior Reporter Jennifer Dlouhy on the White House shifting gears in its sweeping immigration crackdown in Minneapolis Karen Veraa-Perry, Head of US iShares Fixed Income Strategy at BlackRock, on investing in the fixed income market through ETFs, and US monetary policy expectations See omnystudio.com/listener for privacy information.

Fastenal Company (Nasdaq: FAST) announced last month that Daniel Florness had communicated to the company's Board of Directors his decision to step down from his role as Chief Executive Officer of Fastenal on July 16, 2026. On December 19, 2025, Fastenal's Board appointed Jeffery M. Watts, Fastenal's current President and Chief Sales Officer, to succeed Mr. Florness as Fastenal's CEO effective as of July 16, 2026. Florness joined Fastenal in 1996 and became CEO back in 2016. He expects to continue to serve as a Strategic Advisor to the firm's incoming CEO until early 2028. Dan joins to discuss the health of the company as he enters his final months at the helm, and how emerging technology has increasingly impacted the manufacturing landscape. Dan speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump indicated he’ll make changes to his administration’s deportation crackdown in Minnesota after the killing of two US citizens during immigration raids sparked nationwide uproar. The president said he was sending US border czar Tom Homan — who is seen as relatively measured compared to rivals, including Homeland Security Secretary Kristi Noem — to Minneapolis in a bid to deescalate tensions. Trump also spoke with Minnesota Governor Tim Walz, telling the Democrat who he has derided as “grossly incompetent” that he would consider independent investigations into the shootings and reducing the number of federal agents in his state. Later, the White House suggested it could remove US Customs and Border Protection personnel from Minnesota if state and local law enforcement adopted additional “cooperative measures” to assist in the apprehension of undocumented migrants. Taken together, the comments indicated that Trump might recognize that his maximum pressure deportation campaign has eroded public faith in immigration officials as well as his own political standing. That poses a risk for Republicans heading into November’s midterm elections.The federal government is at risk of a partial government shutdown at the end of the week after Senate Democrats said they could not back a funding bill without new curbs on immigration enforcement. Today's show features: Wendy Schiller, Professor of Political Science at Brown University, on President Donald Trump sending US border czar Tom Homan to Minneapolis amid a growing outcry over his immigration crackdown Stephanie Guild, Chief Investment Officer at Robinhood Markets, on markets, retail investing trends., interest rates and Federal Reserve policy Rebecca Homkes, Faculty at the London Business School and at Duke Corporate Executive Education, on how executives are responding to US tariff policy and economic uncertainty Stephanie Aliaga, Global Market Strategist at JPMorgan Asset Management, provides a corporate earnings progress report and commentary on US monetary policy See omnystudio.com/listener for privacy information.

When French President Emmanuel Macron walked out onto a Davos stage sporting a pair of reflective blue aviator sunglasses, Stefano Fulchir, the CEO of iVision Tech SpA, did a double take. Almost immediately, orders starting pouring in for Macron’s frames, the brand’s Doublé or Laminé aviators that retail for €659. The attention on the sunglasses garnered almost as much commentary as Macron’s speech in which he blasted US trade policy.The French president wore the sunglasses after having what he termed a benign but unsightly issue, about which he joked last week in France. A spokesman for Macron confirmed the glasses were part of Henry Jullien’s brand.Stefano discusses the sudden sales boom for the high-end eyewear, and the family-owned company's growth plans. He speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. See omnystudio.com/listener for privacy information.

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 @BW See omnystudio.com/listener for privacy information.

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Snow and dangerously bitter cold have begun to spread from the Rocky Mountains to the Great Lakes as a massive storm pushes toward the US Northeast, disrupting travel and threatening power outages for much of the nation.The storm is expected to span nearly 1,500 miles (2,400 kilometers), bringing heavy snow, crippling ice and subzero wind chill to some of the biggest US cities. Natural gas prices surged on concern iced-over equipment will choke supplies. Airlines have already canceled more than 3,000 flights and Amtrak has pulled dozens of trips from its schedule.Chicago schools were closed Friday as the third-largest US district braced for wind chills of -30F (-34), while ski resorts in Michigan took the unusual step of shutting slopes because of the extreme cold.“This is a gigantic storm,” former Federal Emergency Management Agency chief Deanne Criswell said during a Bloomberg Television interview. “Close to 200 million people” are in the path of the weather system.Through Monday morning, Nashville and Charlotte could see more than a half-inch (1.3 centimeters) of freezing rain. That’s enough to snap tree branches and power lines, potentially triggering widespread power outages. The punch of polar air sent power prices soaring. Prices for electricity and natural gas — the No. 1 power-plant fuel, as well being widely used for home heating — jumped ahead of the storm and remain elevated.Today's show features: Bloomberg News Energy Reporter Josh Saul on the significant storm spreading from the Rocky Mountains to the Great Lakes and toward the US Northeast, disrupting travel and threatening power outages Andrew Krei, Chief Investment Officer at Crescent Grove Advisors, on Federal Reserve policy and the market outlook Bloomberg News Technology Reporter Alexandra Levine on the US arm of TikTok getting bought by an Oracle-led consortium Lauren Hochfelder, Head of Global Real Assets at Morgan Stanley, on the US real estate market and outlook See omnystudio.com/listener for privacy information.