Featuring some of our favorite conversations of the week from our daily radio show "Bloomberg Businessweek Daily."
Hosted by Carol Massar and Tim Stenovec

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Tesla Inc. proposed a new compensation agreement for Chief Executive Officer Elon Musk potentially worth around $1 trillion, a massive package without precedent in corporate America.

The long-awaited proposal, designed to incentivize Musk to lead Tesla for years to come, sets a series of ambitious benchmarks he must meet to earn the full payout, including expanding Tesla’s nascent robotaxi business and growing the company’s market value to at least $8.5 trillion from about $1.1 trillion today. The plan spans 10 years.
The additional shares Musk could receive would push his holdings in the electric-vehicle maker to at least 25%, according to the terms detailed in Tesla’s proxy filing Friday. Musk has publicly stated he wants a stake of that size.

The plan dangles a financial windfall and expanded control of the company to Musk, already the world’s richest person, after his 2018 package valued in excess of $50 billion was struck down by a Delaware court. While Tesla appeals that decision, the board is seeking other ways to compensate its CEO, including with an interim stock award in early August valued at about $30 billion.

Today's show features:

• Bloomberg Technology Co-Host Ed Ludlow on Thursday’s White House tech summit and Tesla’s new proposal for $1 trillion Elon Musk pay package
• Bloomberg Intelligence Chief US Interest Rate Strategist Ira Jersey on Treasury market moves and the latest news from the Federal Reserve and Constance Hunter, Chief Economist at the EIU (Economist Intelligence Unit), on the August nonfarm payrolls report
• Dr. Misty Heggeness, Associate Professor at the University of Kansas and former principal economist at the US Census Bureau, on women in the workforce
• Louis "Louie" Navellier, Chairman, Founder and CIO of Navellier & Associates, on markets and the economy

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Bloomberg Businessweek Daily is live from Bloomberg Power Players New York. The event brings together some of the most influential voices from the sports business universe to help identify the next wave of disruption that could hit this multi-trillion dollar global industry.

Gary Bettman, Commissioner of the National Hockey League, and Ted Leonsis, Founder, Chairman, Managing Partner & CEO of Monumental Sports & Entertainment, join to discuss the remaking of the fan experience in the streaming era. They are followed by Mike Harrity, Haldeman Family Director of Athletics & Recreation at Dartmouth College and Bloomberg News Higher Education Finance Reporter Janet Lorin, with a pulse-check on the state of college athletics in the name, image and likeness (NIL) era. They speak with Tim Stenovec and Carol Massar on Bloomberg Businessweek Daily.

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President Donald Trump’s pick to fill a vacant seat on the Federal Reserve’s Board of Governors pushed back against Democratic concerns that he would merely do Trump’s bidding at the central bank, even as he acknowledged he would retain his White House job.

In his confirmation hearing before the Senate Banking Committee on Thursday, Stephen Miran said he intends to take an unpaid leave of absence from his post as chair of the White House Council of Economic Advisers if confirmed to the Fed for a term that is set to expire at the end of January.
Miran also reiterated his commitment to central bank independence and pledged to make decisions based on his own analysis. He added that a central bank’s most important job is preventing depressions and hyperinflation.

The Trump administration official, who said he has spent much of his career studying monetary policy, last year wrote a paper detailing numerous proposals to overhaul the Fed, including ways to undercut its independence.

Today's show features:

• Bloomberg TV and Radio International Economics & Policy Correspondent Mike McKee on the Stephen Miran Federal Reserve Confirmation Hearing
• Max Levchin, Co-Founder & CEO at Affirm, on earnings and the fintech landscape

Plus, Carol and Tim broadcast live as part of Power Players New York. They speak with:

• Derek Sprague, CEO, PGA of America, and Bloomberg News Texas Bureau Chief Julie Fine on the upcoming Ryder Cup and the mission to reunited the sport of golf
• Alex Rodriguez, Chairman & CEO of A-Rod Corp, and Bloomberg Originals Chief Correspondent Jason Kelly, on the newest season of “The Deal”

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McKissack & McKissack is the oldest minority-owned professional design and construction firm in the United States. A family-owned business for more than 120 years, the firm provides a wide range of services to a variety of government agencies, municipalities, private institutions, industries, designers and developers, and attributes its longevity and success to the talented, service-oriented professionals that comprise the McKissack organization.

Cheryl McKissack Daniel, the company's President and CEO, examines the key issues impacting American infrastructure, including tariffs, and details the new book about her family's story, The Black Family Who Built America: The McKissacks, Two Centuries of Daring Pioneers. Cheryl speaks with Tim Stenovec and Carol Massar on Bloomberg Businessweek Daily.

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Wall Street traders kept piling into bets the Federal Reserve will cut rates in September as weak labor data lifted bonds. Those wagers also propped up stocks, which halted a two-day rout amid a rally in big tech.

Just days ahead of the US payrolls report, a drop in job openings to the lowest in 10 months saw traders almost fully pricing in a Fed cut this month and projecting at least two in 2025. Treasuries bounced after a slide that put the 30-year yield close to 5%. While most shares in the S&P 500 actually fell, Alphabet Inc. led gains in megacaps as Google dodged a forced sale of Chrome.

The slide in vacancies indicates companies are becoming more cautious and selective with their hiring as they attempt to gauge the impact of tariffs on the economy. In addition to the openings data, the pace of hiring has slowed and it is taking longer for unemployed people to find another position.

Before that, Friday’s jobs data will be a crucial input for Fed officials. Some are less concerned about the slowdown in payrolls growth because it’s being accompanied by a decline in the participation rate. They’re also wary of reducing borrowing costs when inflation is gradually increasing.

Today's show features:

• Bloomberg Economics US and Canada Economist Stuart Paul details the Federal Reserve’s August Beige Book release
• Jason Granet, Chief Investment Officer of BNY, on the market outlook and the Federal Reserve
• Jaime Leverton, CEO of ReserveOne, on the role of crypto treasury companies and her firm’s IPO plans
• Rick J. Caruso, Founder and Executive Chairman of Caruso, on the hospitality and commercial real estate business, and California economic recovery from this year’s wildfires

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House Republicans are taking a middle-of-the road approach to funding the federal health department by making deeper cuts than their Senate counterparts but granting only some of President Donald Trump’s wishes. House appropriators unveiled their version of the appropriations bill for the Health and Human Services Department on Monday, which provides the department $108 billion in discretionary funding, cutting $7 billion—or 6%—from the previous year.
Quang X. Pham, Founder, Chairman and CEO of publicly traded Cadrenal Therapeutics, discusses how such budget cuts impact his company's ability to conduct pre-clinical research on new drugs and get them through the government approval process in a timely manner. Quang speaks with Tim Stenovec and Carol Massar on Bloomberg Businessweek Daily.

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Alphabet Inc.’s Google doesn’t have to sell its popular Chrome web browser, a federal judge ruled Tuesday in the Justice Department’s landmark antitrust case against the search engine.

The ruling allows Google to avoid one of the most severe remedy requests from the US government after the court found the company found the company had an illegal monopoly in the search market. Judge Amit Mehta did bar Google from entering into exclusive contracts for internet search.

The finding follows Mehta’s ruling last year that Google illegally monopolized the markets for online search and search advertisements. Mehta held a three-week hearing in April to determine a fix.
The order is one of the most monumental court decisions affecting the tech sector in more than a quarter century, and could offer a blueprint for other judges who may end up weighing similar choices in cases against Meta Platforms Inc., Amazon.com Inc. and Apple Inc.

In another win for Google, the judge didn’t bar the company from making payments to third parties for default browser placement.

Today's show features:

• Bloomberg Intelligence Global Head of Technology Research Mandeep Singh and Bloomberg News Senior Executive Editor for Global Tech Tom Giles
• Peter Atwater, President of Financial Insyghts and Adjunct Lecturer of Economics at the College of William and Mary, on US trade policy and the economic outlook
• Wendy Cutler, Vice President at the Asia Society Policy Institute, on India and China shoring up ties with Russia amid the US-driven trade war and geopolitical unrest
• Bloomberg Senior Editor, Equities Americas Eric Weiner, discussing the Tuesday trade

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