Ed Kalecki

Brad Lightcap, Open AI's longtime COO, will now lead special projects and report directly to Chief Executive Officer Sam Altman.

This according to a memo viewed by Bloomberg.

One of his main efforts will be overseeing OpenAI's push to sell software to businesses through a joint venture with private equity firms.

Denise Dresser, OpenAI's recently appointed chief revenue officer, will be taking over some of LightCap's duties.

Meanwhile, chief marketing officer Kate Rauch is stepping down from her position to focus on her recovery from cancer with plans to return in a more limited purview as her health allows.

The stock markets were closed for Good Friday, but an abbreviated session on the bond markets, the 10-year Treasury yield at 4.34%, and the two-year yield, it stands at 3.84%.

That's news when you want it with Bloomberg News Now.

I'm Ed Kalecki.

This is Bloomberg.

news when you want it with bloomberg news now i'm in kalangi the new york times reports a second u.s air force plane crashed in the persian gulf region friday with the u.s already carrying out search and rescue operations from another incident in which iran downed a fighter jet the a-10 warthog went down near the strait of hormuz around the same time that iran shot down a u.s f-15 fighter jet the lone pilot was safely rescued the u.s has rescued one of the two man crew from the f-15 incident according to a u.s official

who spoke on condition of anonymity to detail sensitive matters.

The official said a search operation is underway for the second crew member.

The Justice Department lost its bid to continue an investigation into building renovation cost overruns by the Federal Reserve, setting the stage for an appeal that could eventually reach the Supreme Court.

U.S.

District Chief Judge James Bosberg upheld an earlier ruling he made to quash two grand jury subpoenas issued to the central bank by U.S.

Attorney Jeanine Pirro as part of a criminal investigation into the cost overruns and congressional testimony Chair Jerome Powell provided on the matter.

Pirro's office had asked Bosberg to reconsider his decision to reject the subpoenas.

The ruling is the latest development in a legal battle that pits the independence of the Fed against the Justice Department's power to carry out investigations.

The Pentagon's proposed fiscal 2027 budget would significantly ramp up its military firepower.

Bloomberg's Monica Ricks reports.