Lakers Sold at a Record, Trump on Hormuz: 'Total Control,' More
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What is the opening overview of Bloomberg News and the Masters in Business podcast?
Hi, I'm Barry Rittholz, inviting you to join me for the Masters in Business podcast. Every week, we bring you conversations with the people who shape markets, investing, and business. I speak with CEOs, Nobel laureates, market innovators, and legendary investors. Whether you own stocks, bonds, real estate commodities, even crypto, these are discussions you absolutely need to hear. Subscribe to The masters in business podcast on Apple, Spotify, or anywhere you listen.
News when you want it with Bloomberg News Now. I'm Nathan Hager. It is another record-shattering deal in the world of sports. Sources confirm to Bloomberg News the Los Angeles Lakers are being sold to venture capitalist Josh Kushner and former Disney CEO Bob Iger for more than twelve billion dollars. Bloomberg senior reporter Randall Williams has more on where all this money's coming from.
Obviously Joshua Kushner has uh money that I don't know about.
How is the record‑shattering $12 billion sale of the Los Angeles Lakers structured?
Um Bob Iger has made a a a pretty penny, you know, being the the Walt Disney CEO, but the exact financing is to be determined. It's it's just that an agreement has been reached. And
Bloomberg's Randall Williams reports the agreement comes just ten months after Los Angeles Dodgers owner Mark Walter took a majority stake in the Lakers from the longtime owners, the Bus family. The deal is moving shares of New York Knicks owner, Madison Square Garden Sports. They are higher right now by more than four percent. President Trump is once again asserting total control in his words over the Strait of Hormuz as the weight continues. For a deal with Iran. The president posted on Truth Social quote, I think we'll keep it when it comes to the strait. Bloomberg's Abira Abu Omar reports Iran is asserting its own position.
We heard from the Iranian side, of course, the negotiations that are taking place with Oman, that is, to develop some kind of mechanism to get a trickle of movement through the Strait of Hermuz. The latest we know about that from Al Jazeera, for example, saying that those negotiations are in an advanced stage. They were citing a Qatari foreign ministry spokesperson about that, and it falls in line with the reporting that we have as well about those talks being.
Why does former President Trump claim “total control” over the Strait of Hormuz?
Bloomberg Zabir Abu Almar reporting. Meantime, a top general in Iran's Revolutionary Guard Corps tells State Television the military's reorganizing leadership to make it more agile and aggressive, a sign the military is preparing for a protracted war even after the current conflict. It's the morning after primary races in six states, including one that may have blunted progressive Democrats' momentum. Moderate David Crowley defeated the government. Democratic socialist Francesca Hong in the Wisconsin governor's primary by just four tenths of one percent. Crowley now says he's ready to take on his Republican opponent, Tom Tiffany.
Right now, for the next eighty plus days, we're gonna be focusing on coalescing Democrats, independents, Republicans, and those who are afraid of having a mega extremist occupying our governorship. And
Bloomberg Opinion columnist Scott the McCunda says the surprise result raises questions for Democrats.
Turnout in Democratic primaries is so high that all of the polling models are falling apart. And so just to give you an example, if if Abdul al-Sayed had won the same number of votes in the 2024 primary that he did in the 2026 primary, which he won by the skin of his teeth.
He would have won by more than two to one. Splinberg opinion columnist got the McCund up.
What were the surprising results of the recent Democratic primary races?
Another key Democratic primary was more decisive. Progressive Peggy Flanagan beat Senatorist Angie Craig in the Minnesota Senate race by nearly 20 points. President Trump's endorsement didn't help my pillow founder Mike Lindell in the state's GOP Governor's primary. He lost to Lisa Demouth by almost eleven points. And the race to replace the late Senator Lindsey Graham on the South Carolina ballot is headed to a runoff now between Graham's sister, Darlene, and Republican Congressman Ralph Northam. On Wall Street, stocks are mostly higher and bond yields are falling after a soft reading on inflation, two and a half percent for the core consumer price index in July.
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Chapters
6 chapters
1
What is the opening overview of Bloomberg News and the Masters in Business podcast?
0:00–0:56
2
How is the record‑shattering $12 billion sale of the Los Angeles Lakers structured?
0:56–2:08
3
Why does former President Trump claim “total control” over the Strait of Hormuz?
2:08–3:21
4
What were the surprising results of the recent Democratic primary races?
3:21–4:33
5
How are today’s CPI numbers influencing Federal Reserve interest‑rate expectations?
4:33–5:26
6
Which tech stocks are leading the market rally and why are they up double‑digits?
5:26–6:35
Speakers
6 identifiedMore from Bloomberg News Now
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AI Leaders Call for Slowing Development, OpenAI Delays IPO, More