Peak and Red Cross is helping with shelter. A federal department is about to begin a path through elimination, as CBS's Erica Brown tells.
US, President Trump is expected to sign an executive order Thursday aimed at dismantling the Department of Education, one of his key campaign promises. Fully eliminating the Department of Education would require congressional approval.
The US comes in twenty fourth on the Worldwide Happiness Report Just Out. Co editor Jan Emmanuel Danube says social isolation is an issue, especially with the younger people.
Youth in America are twice as likely to be sharing no meals whatsoever.
With anyone in the past day, and was the case twenty years ago.
He said, if only people under thirty were polled, the US would rank much lower. CBS News Brief, I'm Michael Toscano.
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On the latest edition the Bloomberg Intelligence Podcast, a conversation with Bloomberg New Senior reporter Claire Ruken on how private equity firms are getting rid of their equity.
If you look at where del flow's coming from, you've got a lot of refinancing, a visit of existing debt, and then you've also got these dividends now happening. It's like the next stage on because the debt markets are so hot, so there's been a record level of inflows into credit funds and cluster is loan obligations, which are the biggest buyers of loans, and they're desperate to put
their money to work. And because there's been a lack of em and a and a lack of new places to put this money, sponsors have been able to get creative. That's private equity firms, and they are doing dividend recaps, so they're adding deb onto companies and taking it out in the form of dividends. And this is something that investors traditionally don't like because obviously you're piling leverage onto
a company and it's something that's usually a logo. But because the debt markets are so hot at the moment, they're like, Yeah, this is great. It's a new place to you know, put new capital, and so they're giving the go ahead to them basically.
So usually when we talk to private equity guys, they're like, look like, you're locketting your money five, seven, ten years, it's going to be fine. We can manage any sort of big swings in volatility. Does that still ring true or are we seeing some issues here? When liquidity tightens up, it gets harder and harder to find ways around it.
They are having some difficult ties. They're having difficulties showing those exits. So whether it's via the IPO market or the M and A market, they just haven't come back yet to the level that they would have wanted.
Here the full conversation on the latest edition of the Bloomberg Intelligence Podcast. Subscribe on app or Spotify and anywhere else you get your podcasts, Plus listen anytime on the Bloomberg Business app. In Bloomberg dot.
Com, markets headlines and breaking news twenty four hours a day on Blueberg Radio, Blueberg Television and the Blueberg Business app. This is a Blueberg Business Flash.
London. Good morning, I'm Stephen Carroll. Let's bring it up to speed on what's moving on market. So as we come down to the start of the European cash trade, we're looking at eurostocks fifty futures down two tenths of one percent, similar top priced in for the catcar on and the docks at the open the foote one hundred den just a tenth of one percent in futures this morning.
On currency markets, we are seeing a further weakening in the pound and the euro against the dollar, so both are down three tenths of one percent, the pound at one twenty nine sixty six. We have that new labor market data out at the top of the are showing wage growth excluding bonuses at five point nine percent a year on year, so remaining strong and that in focus
ahead of today's Bank of England decision as well. We're not expecting the bank to move interest rates, although we'll be watching to see any commentary around how they're pricing or dealing with the uncertainty on the trade front. We did have commentary out of Jerome pal from the Federal Reserve yesterday talking really about downplaying the risk of the impacts, applying the word transitory controversial as it might be in center banking circles to what he's expecting the inflation impact
of those trade tariffs to be. We did see the S and P five hundred rally by one point one percent yesterday, and futures on the S and P five hundred are pointing higher this morning, up by another four tenths of one percent. Less positive picture of equities in
Asia though, the HANGSGNG down two point three percent. Tech shares there among the sell off down by three point five percent, and Mark is taking note of an interview in the Ft with Jensen Wang from Nvidia looking at the potential for more investment in the US for its facilities. That's something to be a boost for that industry, but
perhaps less good news for Asia. Elsewhere on markets, keeping an eye on Goal prices a touchweaker this morning after hitting another record high three forty five dollars a Troy Ount's. And just a word on Turkey as well, after the big droft that we saw in Turkey's benchmark stock in dress yesterday. The bis T one hundred is up by one point seven percent today. It was general had eight
percent in trading yesterday. The Turkeys leyer of flat on the day after it dropped to a record low against the dollar following the arrest of a top opposition politician. That is your Bloomberg radio business flash.
Stephen, Thank you so much. I'm Caroline Heppy. Good time there to look. Some other stories making news in the ukn around the world. President Vladimi Zelinski has back to a US proposal for Ukraine and Russia to stop strikes on energy infrastructure. The Ukrainian leader told US person Donald Trump it would be one of the first steps to fully ending the wall. As well, has sent troops back into girls in what it's described as limited ground operations.
It's the country's first incursion since the six weeks ceaspar lapsed earlier this month. Officials are vowing further pressure unless her mass releases. It's fifty nine remaining hostages, and the UK has dropped three places to twenty three in the world happiness rankings. Finland topped the list for the eighth year in a row, with Afghanistan bottom and the US also falling to its lowest ever position those. A sum of our global news headlines.
Now Starting, carried out by aj Bell and twenty twenty two found a significant investment gap between men and women in the UK of as much as one point sixty five trillion pounds? How much could addressing that help to boost the UK investment landscape? In a bid to close the gap, former Goldman Sachs executive Isiho Fori founded Propelled, the UK's first female focused investment platform. For a work, Iho has been shortlisted for birth Kliko's Bold Future Award
and she's with us in studio now for more. Issha, good morning to you. What is the background to the issue here? Why are women in the UK investing less than men?
There are a few reasons. One of them, i'd say, well, the main one is that women lack confidence, or i'd say it's perceived confidence. Often when you ask them lots of questions and things like this, they do actually know more about investing than they think. However, they don't act on it because they think that they need to know more or they need an expert to sort of guide them. So they inevitably tend to be savers rather than investors.
Okay, isn't this also part of the gender pay gap and the fact that women often work slightly fewer hours fewer years on average over the course of their working lives.
So that is part of it, but not all of the story. It's a number of things, So the pay gap obviously is one of them. Women are the ones who have children and tend to be the careers, so take time out. Women also tend to be the carers for relatives, parents, and then women also are affected quite
a lot during menopause and take time out again. So when you add all of these things together on top of the fact that women live longer and that they're saving rather than investing, it all sort of contributes to the problem.
So there's huge untapped potential here as well to boost both investment and individual wealth.
How do you tackle it?
So for us, it was really about trying to understand the psychology of women when it comes to money in investing, but also what are those hurdles that have been holding women back and how can we put those into a platform that's accessible to the masses and enable women to really feel comfortable and confident when they start investing. That's the only way to sort of shift the behavior from saving more towards investing.
Are you concern that perhaps initiative like the initiatives like yours might suffer some pushback as we see a rollback of diversity actually an inclusion in the United States and that focus on women. Do you think that that perhaps will affect what happens here in the UK?
I think absolutely. One of the ways that we reach women is working with corporates, and we've already started to see a shift. But it's really interesting the individuals within those companies, particularly in the UK, are sort of like, we still love what you're doing, we still want to help. However, you know, money and funding and sort of departments are being shut down. That said, they still recognize the need and so they are still trying to see how we
can continue to work together. But I've never been afraid of sort of having that pushback. Even when I first had the idea, a lot of people told me I was insane and if women weren't investing, they didn't want to.
Well, investing in female lab businesses is a broaderish as well, one being highlighted this morning by Hannah Bernhard, the co chair of the invest In Women Task Force in the UK as well, writing in the Financial Times, what is the issue and is it getting worse? I mean, I wonder what your own experience was even getting investment for your own company.
I use the word horrendous, and I don't use it lightly. I perhaps was a bit naive and thought that it wouldn't be so challenging for me. I know the statistics around women, but also it's even worse for black women. But I sort of said to myself, I have a master's degree in physics from Imperial, I worked at Morgan Stanley Goldman Sachs. I've got an MBA from London Business School. Surely those things count for something. But it was still incredibly difficult and inevitably. What I found is that a
lot of the investors are men. They're the ones that tend to have money that they're looking to invest in these types of businesses. And I guess it's partly they didn't understand the story or the need as to why women need additional resources or an investment platform for women. But I also think it's just inherent biases as well.
But the way that I got around it is, you know, over seventy percent of my investors are women because they just naturally understood what we were doing and were also prepared to invest in a business run by a woman.
Okay, how is propelled doing as a plan? I you know, I'm very interested in this subject because on the one hand, you've got you know, like Hannah Bernard and Debbie Wosco who are leading the government, backed back by Rachel Rees's sort of personally the invest In Women's Task Force focus on women. Okay, invest in in female led businesses is going down, but nonetheless they're you know, they're they're making
that case. And on the other hand, a lot of kind of female led clubs in London, for example, trying to build networking bridges. Those have shut down recently. So it's it's really a very difficult space. How are you going to manage this and navigate this when it comes to propel itself and building that business.
So I think a lot of resilience, I say, is the first thing. But when you speak to women, what I found is they actually do want to invest. We're also going through something called the Great Wealth Transfer, so women are amassing wealth and accelerating rate. I think it's actually this year that the statistics say that sixty percent of UK health is going to be controlled by women. So women are getting more and more wealth and when you do actually speak to them, they want to invest.
So for me, it's more about finding them. How do we reach them, And we do that, as I said, through companies, through organizations, but actually we've grown massively just by word of mouth, referrals and social media.
Are you worried though, with as you described it, how companies are reorientating their approach to efforts like this, that that funnel for you gets cut off.
I think in a sense of potentially companies paying for some of the services we provide. Yes, but we can still go into these companies and engage with their women's networks and things like this, and that has been incredibly fruitful for us.
So, as I said, some more informal connections necessarily then perhaps the former ones funneled through
Companies exactly exactly, So maybe the company can't formally engage in the same way anymore, but the individuals in these companies absolutely do, so those doors are still open.