August 25, 2025 • 27 mins
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Elon Musk accused Apple Inc. and OpenAI in a lawsuit of unfairly favoring the artificial intelligence company across iPhones and thwarting competition for other chatbot makers.
Musk’s X and xAI seek billions of dollars in damages in the suit filed Monday in federal court in Fort Worth, Texas, arguing that Apple’s decision to integrate OpenAI into the iPhone’s operating system inhibits rivalry and innovation within the AI industry and harms consumers by depriving them of choice.
The billionaire founder of xAI Holdings, which now houses the Grok AI team and X social network, said Apple makes it impossible for anyone other than OpenAI’s ChatGPT to reach the top of the App Store charts, a sought-after global spotlight for app developers.
The case sets up a high-stakes court showdown between the richest person on the planet and one of the world’s most valuable companies.
Apple and OpenAI — whose ChatGPT service is the most-downloaded free iPhone app in the US — have a partnership around AI built into the latest iPhones. Musk, 54, has a long-running feud with OpenAI Chief Executive Officer Sam Altman, which dates back to disagreements that led to their split after the two founded OpenAI together a decade ago.
Today's show features:
- Bloomberg News Legal Reporter Madlin Mekelburg on Elon Musk suing Apple and OpenAI over what he sees as threats to AI competition
- Jennifer Lee, Senior Economist and Managing Director of Economics at BMO Capital Markets, on the big week of economic data ahead
- Bloomberg News Chief Correspondent for Global Aviation Siddharth Phillp on Boeing and union leaders returning to the bargaining table
- Christina Cassotis, Chief Executive Officer of the Pittsburgh International Airport, on the upcoming opening of her airport’s new terminal and preparing for the Labor Day weekend travel rush
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Episode Transcript
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Speaker 1 (00:00):
Bloomberg Audio Studios, Podcasts, radio News. This is Bloomberg Business
Week Daily reporting from the magazine that helps global leaders
stay ahead with insight on the people, companies, and trends
shaping today's complex economy, plus global business finance and tech
(00:23):
news as it happens. The Bloomberg Business Week Daily Podcast
with Carol Masser and Tim Stenebeck on Bloomberg Radio.
Speaker 2 (00:32):
To one of the most read stories on the Bloomberg terminal,
and that's about Elon Musk accusing Apple and Open Ai
in a lawsuit of unfairly favoring the AI company across
iPhones and thwarting competition for other chatbot makers. We've got
Madeline Mecklberg with US Bloomberg News Illegal Reporter. She joins
us from the Bloomberg Austin, Texas Bureau.
Speaker 3 (00:53):
Madeline, what's that issue here?
Speaker 2 (00:54):
We've heard rumblings about complaints from Elon Musk on social
media over the last week or so, but now it's official.
Speaker 3 (01:02):
What's the complaint? Say?
Speaker 4 (01:05):
Right?
Speaker 5 (01:05):
Nobody should be surprised to see this lawsuit today, Like
you say, Elon Musk has been tweeting about it or
ex posting your abit. Excuse me, but Essentially, this lawsuit
accuses Apple and open Ai of forming what he describes
as an illegal arrangement that allows both companies to retain
monopolies in their respective industries, being smartphones for Apple and
(01:29):
artificial intelligence for open Ai, and it centers on two ideas. Basically,
he's accusing them of orchestrating this arrangement by having Apple
integrate open Ai into the iPhone's operating system and also
by having Apple supposedly prioritize chat GPT in its app
store over other artificial intelligence products.
Speaker 6 (01:52):
Are these accusations valid and what would be the legal
ramifications here?
Speaker 4 (02:00):
Right?
Speaker 5 (02:00):
I mean, these ideas are not happening in a vacuum.
We've heard similar allegations made against Apple in the past
when it comes to how they wield the power of
their app store, And I think if we drill down
a little closer into some of the legal arguments here,
particularly when we're talking about integration, the argument here is
on anti trust grounds. That's what this lawsuit has been
(02:22):
brought against. And it's this argument that by using these
two powerful companies and having them work together in this way,
they're reducing consumer choice because iPhone users have to use
chat GPT if they're on their phone instead of a
different AI software, if maybe they prefer something like Rock
or Xai, and they argue. Also another element of this
(02:44):
is that it gives open ai a leg up over
other AI companies because now they're going to have access
to billions of queries and questions submitted by iPhone users.
Speaker 7 (02:54):
That other companies won't have access to.
Speaker 5 (02:57):
And so it's really about anti trust and this idea
that whatever kind of agreement may exist between these companies,
it's hurting other people operating and competing in this space,
but it's also hurting consumers who lose choice. So what
they're looking for here is core order that would ask
Apple and open Ai to stop operating in this fashion.
Speaker 2 (03:19):
So what's interesting about this, and, like you said, it's
been playing out over the last couple of weeks. In
your story, you include a post that I've seen as
well by Sam Altman pushing back on the claims that
Elon Musk made earlier this month. Elon Musk said Apples
behaving in a manner that makes it impossible for any
AI company besides open Ai to reach number one in
(03:40):
the App Store, which is an unequivocal anti trust violation.
XAI will take immediate legal action. Sam Alman pushed back
and said, quote, this is a remarkable claim given what
I've heard alleged that Elon does to manipulate X to
benefit himself and his own companies and harm his competitors
and people he doesn't like. To be fair, there have
been stories about what has been highlighted and what hasn't
(04:02):
been highlighted on Elon Musk's social media platform. You know,
maybe people have noticed that they see a lot of
Elon Musk in their feed, even if they don't necessarily
follow him in there. For youtab or, I get ads
from Starlink all the time. That's an Elon owned company.
It's known that his compani's work together in certain instances,
(04:24):
and he's also been outspoken about links from news organizations
not working as well on X. So it's a little complicated,
isn't it.
Speaker 5 (04:33):
It's incredibly complicated, and I think this is going to
be one of those cases that captures attention from across
these industries, but also any industry that touches them or
works with Musks companies, because we're talking about so many
huge players who wield so much power and influence in
this tech space but also in this AI space. And
when we're talking about the Sam Altman and the Elon
(04:55):
Musk of this and how they've gone back and forth
publicly trading barbs, that's a feud between these two tech
leaders that has gone on for years since they co
founded open Aye together and split publicly.
Speaker 7 (05:08):
And this feels like we're just ratcheting.
Speaker 5 (05:11):
Up in the tension between these two leaders as it
comes to them talking about their products and how they're
publicly being perceived and these kind of collaborations that you're
talking about. So certainly, what happens here, the outcome here
is going to be felt everywhere and it could reflect
on Musk companies as well.
Speaker 6 (05:29):
Right, And this isn't the first time we've had these
situations where Apple has been called out for its app
store potentially promoting or having a high search for certain
companies here, Right, that's correct.
Speaker 5 (05:42):
I mean Apple is still in a five year legal
fight with Epic Games over allegations about its app store's
dominance in the smartphone market, and a lot of the
complaints that we saw raised today in the ex Elon
Musk lawsuit, actually we're echoed in a suit earlier a
few years ago filed by the Justice Department against Apple
(06:03):
that also accused the company of monopolizing the smartphone market
and using its power over act distribution to kind of
for innovation that makes it easier for consumers to switch
between phones, and that centers on this idea of blocking
things that are known as super apps or everything apps,
and this idea that you're creating an app that has
(06:23):
a lot of different features that people get from a smartphone,
and by blocking those apps from being available publicly, they're
able to retain control over those users who might be
looking for an alternative to using the smartphone. And so
this certainly we're not covering new territory here that much
in this litigation, but what's new about it is who
(06:44):
the players are and this like huge pivotal moment in
time we're at when it comes to AI and figuring
out what kind of guardrails need to be on these
things moving forward.
Speaker 2 (06:53):
Madeline Meckelberg, Bloomberg News legal reporter. Her story among the
most read today on the Bloomberg terminal, all about Elon
Musk pursuing legal action against Apple and OpenAI, saying that
they hurt AI competition She joins us from our Austin,
Texas bureau. Stay with us more from Bloomberg Business Week
(07:14):
Daily coming up after this.
Speaker 1 (07:19):
You're listening to the Bloomberg Business Week Daily Podcast. Catch
us live weekday afternoons from two to five Easter and
listen on Applecarplay and Android Auto with the Bloomberg Business app,
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Speaker 2 (07:34):
Tomorrow, we get an update on durable goods orders consumer
confidence as well from the conference board. Thursday, we're going
to get USGDP and on Friday watch for core PCE.
That's just some of what's going on, some of the
data to keep an eye on, watching.
Speaker 3 (07:48):
It all and more.
Speaker 2 (07:49):
Jennifer Lee, senior economists and managing director of economics for
Demo Capital Markets. The firm as just over a trillion
dollars in assets under management. Jennifer joins us from Toronto. Jennifer,
We're going to get to all of this data, but
I want to start with your takeaways from Jackson Hole.
For a week ago, we were sitting here saying it's
all about Friday. It's all about Friday, It's all about
(08:10):
fed chair palace speech. We got that. Markets breathed a
sigh of relief. There was a relief rally, that euphoria
around rate cuts certainly easing.
Speaker 3 (08:19):
What were your takeaways, So.
Speaker 4 (08:22):
First of all, good afternoon, and thank you very much
for having me on and full disclosure. I was actually
one of the few people that thought, oh, he's not
going to say anything. Was he can possibly say, he's
going to sort of keep stay safe And I was
pleasantly surprised. And that's one of the positives I took
away on Friday, just not getting not just getting some
clarity on the trade front, but getting some clarity on
where you know, we see voluntary policy going. And he
(08:44):
certainly did hint toward a rate cut. He didn't see
anything I don't think beyond that, but it certainly looks
like he is becoming a little more comfortable with a
September rate cut. And again, you know, just to use
phrases I've been used so many times over the last
number of years, you know, we're going to be data dependent.
It's going to depend on a meeting and by meeting basis.
(09:05):
But he's talked about how you know, the dual mandates
are being you know, it's sort of difficult to wrestle
with both both dual mandates right now, but there is
more of a downside risk coming from the job side,
and he's not, as word seems now from the infliction side,
which is kind of interesting. So anyway, I'm definitely more
comforted knowing that at least he's starting to think about
(09:25):
rate cuts, and although you know, President Trump did say
it was too late, but at least again we know
that it is most likely going to become data dependent.
We still have a few more numbers, by the way,
as you mentioned, to keep an eye on before that
September seventeenth date, Jennifer.
Speaker 6 (09:40):
He's certainly becoming more comfortable with the idea of a
rate cut, as you're laying out here for us and
what we saw last week. Where do you see monetary
policy going? Are you expecting a rate cut next month?
What's the cadence afterward?
Speaker 4 (09:52):
If so, so, we haven't changed our forecasts much at
all over the last little while. We continue to see
two more rate cuts this year September and December twenty
five basis points each and about four next year, probably
a quarterly cadence, being my guest, like four times next
year and two more times this year.
Speaker 7 (10:13):
So that's sort of how.
Speaker 4 (10:14):
We see the economic landscape playing out right now. Of course,
lots can change depending on how some of these trade
deals go, depending on how inflation pans out, what's happening
on the jobs front as well. But right now, I
think it's a pretty fair, you know, safe sort of
you know bet to take that you know, a couple
more a couple of this year, although I don't think
every single Fed policy maker is on board with that.
Speaker 2 (10:36):
The President late on Friday said the US is conducting
a quote major tariff investigation on furniture coming into the
United States. Just when you kind of thought that there
was a little bit of clarity when it came to
what was happening with tariffs, there's a new element thrown
into this. How big of an effect does that have
(10:56):
in your view on just the way that countries are
thinking about the United States as a trading partner.
Speaker 4 (11:03):
So I guess it just suggests that and again, full disclosure,
that wasn't even on my radar furniture, but it sort
of leans into the whole lumber and steal, you know,
tariff category. But it just gives us a reminder that
nothing is off the table in terms of tariffs and
if they are deemed to be you know, a possible
(11:26):
source of national security or whatever, or there's some type
of unfairness kicking in, then yes, it's going to be
the focus or one of the it's going to be
one of the things that the administration is going to
focus on. So we can't get too comfortable with it.
And it also suggests that, you know, potentially in the
inflation story, we might start seeing those stronger inflation inflationary
(11:48):
pressures perk up again incoming months, because I think there's
like fifty days I believe that the administration said that
they're going to take to start of study this this sector,
and if all is found to be in order or
not in order, then you can see terrras being thrown
onto the furniture sector. So again, so we could see
potentially more inflation playing out, we could see more pressures
on the consumer front, and then we're going to have
(12:09):
to see how the fit is going to handle it,
Like again, how much of it of the higher prices
will be pushed onto the US consumer and whether or not
the US consumer can deal with it.
Speaker 6 (12:17):
Super briefly, I mean, do you believe that the US
consumer will be able to deal with this. Of course,
we saw a lot of data previously, we didn't really
see tariffs being baked in there yet.
Speaker 4 (12:26):
So so far, the US consumer has been holding up,
and we've been saying for I don't know, one hundred
years now, you know, never to underestimate the US consumer,
and I still stand by that.
Speaker 7 (12:36):
Of course.
Speaker 4 (12:36):
At the same time, it's all going to come down
to jobs and whether or not there is going to
be continued strong demand for jobs, wages especially. That's the
one thing I'm going to I want to say about
the Friday's report on personal income and spending. I want
to keep an eye on the wages and salaries component
to see whether or not we're going to still see
a solid reading. I think of the lat in the
prior month, it was a very soft reading, which is
a bit you know, disconcerting. So as long as we
(12:58):
continue to see steady gains and wages and salaries, consumers
will still be able to suck a little bit way
for the rainy to day keep a saving rate, you know,
around fourst percenters, so and yeah, then they can they
can sort of sit back and maybe wait a little bit,
wait it out a little bit. But at least they
can still as long as they have a job and
they can still afford to buy things, I think the
US consumer will be in pretty good shape. And I
(13:18):
will also say that this whole ninety day pause that
the US now has with China, which brings us to November,
I think it's November tenth, sort of also put puts off,
you know, some of these higher tariffs onto these US
products as well. So that's good news on the inflation front.
Although I just see a headline just flash in front
of me about how prisident Trump is threatening the China
(13:40):
with two percent.
Speaker 2 (13:42):
Always stay glued, Always take glued to the terminal for
all the latest jenniferly Over at a BMO.
Speaker 3 (13:49):
Stay with us.
Speaker 2 (13:50):
More from Bloomberg Business Week Daily coming up after this.
Speaker 1 (13:57):
This is the Bloomberg Business Weekday Daily podcast. Listen live
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Just say Alexa Play Bloomberg eleven thirty.
Speaker 2 (14:18):
Boeing CEO Kelly Ortberg's campaign to rebuild the company culture
is being put to the test by a rise in
labor activism. Boeing in union leaders representing striking workers at
Saint Louis area defense factories are set to return to
the bargaining table today as they aim to end a
three week long impass. Workers have grievances over pay and
(14:38):
pensions that were sacrificed in long term contracts in the
company faces lingering l will from its past tactics. We've
got with us Sid Phillip, chief correspondent for Global Aviation
for Bloomberg News. He joins us here in the Bloomberg
BusinessWeek studio. Sid at the heart of the labor issue here,
what exactly is it? Because this is focused on the
defense portion of Boeing's business.
Speaker 8 (15:00):
Yeah, so this is Boeing's defense workers who are on strike.
So it's a smaller strike than the one we saw
last year when people making the essentially the bread and
butter commercial aircraft went on strike, and that was sort
of much more hard hitting for Boeing. This is a
smaller scale dispute, but at the same time it is
(15:20):
vitally important because Boeing defense business is in the process
of being overhauled and Kelly Oldberg has talked about how
he wants to sort of bring it to a more
steady pace of growth, a set he sort of returns,
and that's really been put to the test by this stoppage,
which is basically affecting output. The lines are still open,
unlike when the Seattle strike happened. The lines are still
(15:42):
open in Saint Louis, but at the same time, output
is nowhere near it should where it should be.
Speaker 6 (15:48):
Sid So it seems as there's some pretty key requests
here that they are looking for here at the union
to see that Boeing is able to give them. But
we're dealing with the three week long impass here is
this long? How long can these potentially be drawn out for?
Speaker 8 (16:02):
I mean, the previous strike went on for nineteen nine days,
and so this is not the longest strike that's been
that the company's faced. At the same time, it is
disruptive for the Company's disruptive to the efforts to turn
around the company, and it is disruptive for Boeing because
there's just one more fire that they need to fight
at a time when they're already fighting many fires.
Speaker 2 (16:21):
You know, I'm they're doing a good job, though, I
think analyst and investors would say, of combating some of
the issues that the company has had for all intents
and purposes, Kelly Ordberg, analyst and investors would say, has
done a pretty good job turning the company around, and
now it finds itself in this unique position as being
essentially this bargaining trip when it comes to US trade
(16:43):
it does.
Speaker 8 (16:44):
I mean Boeing has sort of turned around the corner
since it's massive. It had those the grounding of the
sevent thry seven. Following those two fatal crashes, the plane
came back into service, and last year we had the
dope plug blowout, which then sort of put back scrutiny
on Boeing. We had the strike last year, So Kelly
Ottberg has managed to sort of start turning the process,
the process of turning the company around. At the same time,
(17:06):
the company still has long ways to go before it's
actually on a stable footing.
Speaker 6 (17:10):
So you say that it has long ways to go,
what are you looking for? What are investors looking for here?
Speaker 8 (17:16):
So investors are looking for when Boeing will be sort
of untapped by It's the FA at the moment is
kept production of the seven three seven at thirty eight
a month. They're looking to see where the signs are
in terms of being able to go to forty two
a month and then potentially go to beyond where they
were a pre pandemic. Air Bus has talked about seventy
five a month on the competing eight three twenty neum.
(17:37):
So this is where Boeing would sort of in a
in a scenario where they can actually get everything together,
that's where Boeing would be.
Speaker 2 (17:45):
You and the team last week for the first to
report that Boeing is close to ending its sales drought
with China. The story moving Boeing shares as much as
three point seven percent. Boeing said to be in talks
to sell up to five hundred jets to China.
Speaker 3 (17:58):
Is that going to happen?
Speaker 8 (18:00):
Waiting to see, I mean a lot of it depends
on the trade negotiations that are underway between the US
and China, and we understand that any any agreement with
Boeing would be conditional on some sort of trade agreement
being reached, and Boeing has become emblematic of trade agreements
across the world. I mean, we saw that with Qatar,
(18:20):
we saw that with other deals where trumped outs the
Boeing angle of it is as part of the wins
for the US, and so Boeing has become really crucial
to US foreign policy and trade negotiations, and this would
be one of the biggest trade the biggest orders, and
potentially one of the biggest trade negotiations.
Speaker 2 (18:39):
Not to mention a seven forty seven that was given
to the US government by another country as well. Hey, Sid,
always love chatting planes with you. Sid Phillip is a
Bloomberg a Global Aviation correspondent, Chief correspondent for Global Aviation
here in our Bloomberg Interactive Brokers Studio.
Speaker 3 (18:58):
Stay with us.
Speaker 2 (18:59):
More from Bloomberg Business Week Daily coming up after this.
Speaker 1 (19:06):
You're listening to the Bloomberg Business Week Daily Podcast. Catch
us live weekday afternoons from two to five e's during
Listen on Applecarplay and Android Otto with the Bloomberg Business app,
or watch us live on YouTube.
Speaker 2 (19:20):
I want to bring in Christina Ksotis, CEO of the
Pittsburgh International Airport. We're going to talk to you about
the airport update in just a minute, specifically that new
terminal and how it's going setting to open up this fall. First, though,
give us an update on how business is shaping up
for the summer, because when we spoke earlier in the summer,
you gave us the impression that things were looking pretty good.
Speaker 9 (19:43):
They are looking pretty good, and they are pretty good.
We're actually having our second busiest June in nearly twenty years.
But the industry overall is definitely seeing some softness, and
I'm confident that. On Bloomberg, I've heard you cover airline
earning and what Ed Bastian was saying about, you know,
the fact that airlines are having to cut capacity in
(20:05):
September in order to get back to profitability is something
that we're all paying attention to.
Speaker 2 (20:11):
Are you experiencing any cuts in routes to or from
Pittsburgh's International Airport?
Speaker 9 (20:17):
Yes, we have seen some as a result of Spirits bankruptcy, definitely,
but that's not unique to us otherwise. You know, like
I said, we're having a great summer. It's just that
we were expecting to have a better summer.
Speaker 7 (20:31):
So you know, it's we're in good shape.
Speaker 9 (20:35):
We just we're expecting we were expecting more traffic this summer.
Speaker 6 (20:38):
So what are the drivers for that, you know, pull
back drop off in traffic here over the summer well.
Speaker 9 (20:45):
So one of the things, there's no questions school there
are a lot more schools starting in August, and I
think that I agree with Ed Bastian that that definitely
has an impact on August.
Speaker 7 (20:55):
I would say that.
Speaker 9 (20:56):
The other thing is is that you know, as as
we have seen the we were all expecting much more
growth in air travel for this year when we were
doing our plans. And while we're, as I said, we're
flat against last year, we expected to see an increase.
And you know, there's a lot of reasons for that.
We're certainly not the only ones experiencing it. We are
(21:20):
seeing that globally and nationwide as well, so lots of reasons,
I'm sure.
Speaker 6 (21:27):
So are you all at all being impacted by the
strikes from Air Canada.
Speaker 9 (21:32):
We are not being impacted by the strikes for Air Canada.
We have had service flying to the markets that we
have here, Montreal and Toronto, and that has not been
an impact to us directly as of yet.
Speaker 3 (21:47):
There's only so much within your control. I don't know.
Speaker 2 (21:52):
I think maybe that's like a mantra that we all
should be repeating all the time. But I think especially
with you, because you know, you think about it from
the respective of customers, They're not necessarily the airports is
it's table stakes, right they're going to especially in a
place like Pittsburgh and New York City, It's like, okay, well,
I can choose to fly out LaGuardia, Newark or JFK
(22:13):
depending on where I'm going and where I'm coming from.
So if you think about it from your perspective, what
do you do in a situation where your expectations don't
meet reality?
Speaker 9 (22:25):
So that is I mean, first of all, that's the job,
just to be clear, right, as an airport, we are
at definitely at the mercy of the airlines and the
decisions that they make, as well as our passengers and
what's affecting them their household economies or what's happening in
their businesses. So what we've done is spent a lot
of time candidly reimagining what the airport can do and
(22:50):
be for the community, which is why we have for
as much focus as we have on the day to
day operation and making sure that it runs safely. That
we're building this new terminal, we're demonstrating to our business
partners that we are a good business partner for them.
Speaker 7 (23:05):
We are also investing.
Speaker 9 (23:07):
In a lot of other activities that perhaps airports don't
necessarily pay attention to energy independence on site saff production
Here at the airport, looking at how we use our
facility as a technology innovative innovation accelerator for airlines and
airports globally. In other words, how do we participate in
(23:28):
the broader economic impact using the facilities that we have
and that has actually been incredibly successful for us.
Speaker 7 (23:35):
So while passenger traffic.
Speaker 9 (23:37):
Will drive the majority of our revenue, we are looking
to diversify that revenue stream in order to be able
to continue to invest in necessary capital and programs that
are really going to make this airport be everything it
can be and should be when traffic does return and
continues to grow, Christina.
Speaker 6 (23:54):
If summer wasn't as good, what are expectations for the fall?
Of course, we have a couple holidays, Labor Day right
around the corner. Things giving ahead. What are the expectations
moving forward in the fall.
Speaker 7 (24:04):
We're all watching.
Speaker 9 (24:05):
We're all watching, you know, We're all watching the major
airlines to see what they're going to do with capacity.
We're watching Spirit, We're looking at how Southwest is managing
and it's I mean, right now, we are expecting to
continue to not recogn to not realize what we had
budgeted in for growth. So we were looking for six
(24:27):
percent this year and we are expecting to probably stay flat.
And that's something that we're working around at the end
of the day. And you know this, you both have
been covering this industry for a while. Traffic always comes back.
It always comes back, and it usually comes back stronger.
So what we do is we ride it out and
we manage in the meantime.
Speaker 2 (24:47):
Hey, we only have about a minute left, and I
want to get two more questions, and first on what
happens this winter, and if you're seeing signs of airlines
pulling back even more this winter, not yet, okay now yet,
so stay.
Speaker 3 (24:58):
Tuned for that.
Speaker 2 (24:59):
We could also airlines increased capacity too. It doesn't just
go one way. Let's talk about October and the new
terminal opening. Still on track for October.
Speaker 7 (25:09):
Still on track. We have not set a final date yet,
but yes, still on track. We are moving forward with.
Speaker 9 (25:14):
Lots of trials and testing, integrated trials, and lots of
events for the community and for the industry to let
everybody see what they can expect. But yeah, we are
so far on track for sometime in October date.
Speaker 7 (25:27):
To be determined.
Speaker 3 (25:28):
What can people expect?
Speaker 7 (25:30):
Oh my gosh, it's fantastic. You should come see it.
Speaker 2 (25:33):
As I saw it under construction, it was just walls
that I couldn't see.
Speaker 3 (25:36):
Into, so I don't know.
Speaker 9 (25:38):
Yes, it's different now, okay, so it's actually like nothing
else in the US.
Speaker 7 (25:43):
It's beautiful. It's filled with lots of natural light.
Speaker 9 (25:46):
There's lots of space and lots of good intuitive wayfinding,
universal access space for meters and greeters. It makes sure
that everybody who needs to use this airport as either
an employee or a passenger and or a partner is
going to get what they need and be able to
deliver services to each other rather seamlessly. So it's spectacular
(26:08):
in terms of design, and the services will deliver we
think will be far superior to what we're able to
do today. A lot of that enabled by technology that
keeps people still at the center.
Speaker 2 (26:17):
Well, looking forward to checking it out, Christina. Always great
to check in with you. Thank you as always for
joining us on Bloomberg Business Weekdaily. Christina Episodis, she's CEO
of the Pittsburgh International Airport.
Speaker 1 (26:29):
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(26:50):
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(00:23):
news as it happens. The Bloomberg Business Week Daily Podcast
with Carol Masser and Tim Stenebeck on Bloomberg Radio.
Speaker 2 (00:32):
To one of the most read stories on the Bloomberg terminal,
and that's about Elon Musk accusing Apple and Open Ai
in a lawsuit of unfairly favoring the AI company across
iPhones and thwarting competition for other chatbot makers. We've got
Madeline Mecklberg with US Bloomberg News Illegal Reporter. She joins
us from the Bloomberg Austin, Texas Bureau.
Speaker 3 (00:53):
Madeline, what's that issue here?
Speaker 2 (00:54):
We've heard rumblings about complaints from Elon Musk on social
media over the last week or so, but now it's official.
Speaker 3 (01:02):
What's the complaint? Say?
Speaker 4 (01:05):
Right?
Speaker 5 (01:05):
Nobody should be surprised to see this lawsuit today, Like
you say, Elon Musk has been tweeting about it or
ex posting your abit. Excuse me, but Essentially, this lawsuit
accuses Apple and open Ai of forming what he describes
as an illegal arrangement that allows both companies to retain
monopolies in their respective industries, being smartphones for Apple and
(01:29):
artificial intelligence for open Ai, and it centers on two ideas. Basically,
he's accusing them of orchestrating this arrangement by having Apple
integrate open Ai into the iPhone's operating system and also
by having Apple supposedly prioritize chat GPT in its app
store over other artificial intelligence products.
Speaker 6 (01:52):
Are these accusations valid and what would be the legal
ramifications here?
Speaker 4 (02:00):
Right?
Speaker 5 (02:00):
I mean, these ideas are not happening in a vacuum.
We've heard similar allegations made against Apple in the past
when it comes to how they wield the power of
their app store, And I think if we drill down
a little closer into some of the legal arguments here,
particularly when we're talking about integration, the argument here is
on anti trust grounds. That's what this lawsuit has been
(02:22):
brought against. And it's this argument that by using these
two powerful companies and having them work together in this way,
they're reducing consumer choice because iPhone users have to use
chat GPT if they're on their phone instead of a
different AI software, if maybe they prefer something like Rock
or Xai, and they argue. Also another element of this
(02:44):
is that it gives open ai a leg up over
other AI companies because now they're going to have access
to billions of queries and questions submitted by iPhone users.
Speaker 7 (02:54):
That other companies won't have access to.
Speaker 5 (02:57):
And so it's really about anti trust and this idea
that whatever kind of agreement may exist between these companies,
it's hurting other people operating and competing in this space,
but it's also hurting consumers who lose choice. So what
they're looking for here is core order that would ask
Apple and open Ai to stop operating in this fashion.
Speaker 2 (03:19):
So what's interesting about this, and, like you said, it's
been playing out over the last couple of weeks. In
your story, you include a post that I've seen as
well by Sam Altman pushing back on the claims that
Elon Musk made earlier this month. Elon Musk said Apples
behaving in a manner that makes it impossible for any
AI company besides open Ai to reach number one in
(03:40):
the App Store, which is an unequivocal anti trust violation.
XAI will take immediate legal action. Sam Alman pushed back
and said, quote, this is a remarkable claim given what
I've heard alleged that Elon does to manipulate X to
benefit himself and his own companies and harm his competitors
and people he doesn't like. To be fair, there have
been stories about what has been highlighted and what hasn't
(04:02):
been highlighted on Elon Musk's social media platform. You know,
maybe people have noticed that they see a lot of
Elon Musk in their feed, even if they don't necessarily
follow him in there. For youtab or, I get ads
from Starlink all the time. That's an Elon owned company.
It's known that his compani's work together in certain instances,
(04:24):
and he's also been outspoken about links from news organizations
not working as well on X. So it's a little complicated,
isn't it.
Speaker 5 (04:33):
It's incredibly complicated, and I think this is going to
be one of those cases that captures attention from across
these industries, but also any industry that touches them or
works with Musks companies, because we're talking about so many
huge players who wield so much power and influence in
this tech space but also in this AI space. And
when we're talking about the Sam Altman and the Elon
(04:55):
Musk of this and how they've gone back and forth
publicly trading barbs, that's a feud between these two tech
leaders that has gone on for years since they co
founded open Aye together and split publicly.
Speaker 7 (05:08):
And this feels like we're just ratcheting.
Speaker 5 (05:11):
Up in the tension between these two leaders as it
comes to them talking about their products and how they're
publicly being perceived and these kind of collaborations that you're
talking about. So certainly, what happens here, the outcome here
is going to be felt everywhere and it could reflect
on Musk companies as well.
Speaker 6 (05:29):
Right, And this isn't the first time we've had these
situations where Apple has been called out for its app
store potentially promoting or having a high search for certain
companies here, Right, that's correct.
Speaker 5 (05:42):
I mean Apple is still in a five year legal
fight with Epic Games over allegations about its app store's
dominance in the smartphone market, and a lot of the
complaints that we saw raised today in the ex Elon
Musk lawsuit, actually we're echoed in a suit earlier a
few years ago filed by the Justice Department against Apple
(06:03):
that also accused the company of monopolizing the smartphone market
and using its power over act distribution to kind of
for innovation that makes it easier for consumers to switch
between phones, and that centers on this idea of blocking
things that are known as super apps or everything apps,
and this idea that you're creating an app that has
(06:23):
a lot of different features that people get from a smartphone,
and by blocking those apps from being available publicly, they're
able to retain control over those users who might be
looking for an alternative to using the smartphone. And so
this certainly we're not covering new territory here that much
in this litigation, but what's new about it is who
(06:44):
the players are and this like huge pivotal moment in
time we're at when it comes to AI and figuring
out what kind of guardrails need to be on these
things moving forward.
Speaker 2 (06:53):
Madeline Meckelberg, Bloomberg News legal reporter. Her story among the
most read today on the Bloomberg terminal, all about Elon
Musk pursuing legal action against Apple and OpenAI, saying that
they hurt AI competition She joins us from our Austin,
Texas bureau. Stay with us more from Bloomberg Business Week
(07:14):
Daily coming up after this.
Speaker 1 (07:19):
You're listening to the Bloomberg Business Week Daily Podcast. Catch
us live weekday afternoons from two to five Easter and
listen on Applecarplay and Android Auto with the Bloomberg Business app,
or watch us live on YouTube.
Speaker 2 (07:34):
Tomorrow, we get an update on durable goods orders consumer
confidence as well from the conference board. Thursday, we're going
to get USGDP and on Friday watch for core PCE.
That's just some of what's going on, some of the
data to keep an eye on, watching.
Speaker 3 (07:48):
It all and more.
Speaker 2 (07:49):
Jennifer Lee, senior economists and managing director of economics for
Demo Capital Markets. The firm as just over a trillion
dollars in assets under management. Jennifer joins us from Toronto. Jennifer,
We're going to get to all of this data, but
I want to start with your takeaways from Jackson Hole.
For a week ago, we were sitting here saying it's
all about Friday. It's all about Friday, It's all about
(08:10):
fed chair palace speech. We got that. Markets breathed a
sigh of relief. There was a relief rally, that euphoria
around rate cuts certainly easing.
Speaker 3 (08:19):
What were your takeaways, So.
Speaker 4 (08:22):
First of all, good afternoon, and thank you very much
for having me on and full disclosure. I was actually
one of the few people that thought, oh, he's not
going to say anything. Was he can possibly say, he's
going to sort of keep stay safe And I was
pleasantly surprised. And that's one of the positives I took
away on Friday, just not getting not just getting some
clarity on the trade front, but getting some clarity on
where you know, we see voluntary policy going. And he
(08:44):
certainly did hint toward a rate cut. He didn't see
anything I don't think beyond that, but it certainly looks
like he is becoming a little more comfortable with a
September rate cut. And again, you know, just to use
phrases I've been used so many times over the last
number of years, you know, we're going to be data dependent.
It's going to depend on a meeting and by meeting basis.
(09:05):
But he's talked about how you know, the dual mandates
are being you know, it's sort of difficult to wrestle
with both both dual mandates right now, but there is
more of a downside risk coming from the job side,
and he's not, as word seems now from the infliction side,
which is kind of interesting. So anyway, I'm definitely more
comforted knowing that at least he's starting to think about
(09:25):
rate cuts, and although you know, President Trump did say
it was too late, but at least again we know
that it is most likely going to become data dependent.
We still have a few more numbers, by the way,
as you mentioned, to keep an eye on before that
September seventeenth date, Jennifer.
Speaker 6 (09:40):
He's certainly becoming more comfortable with the idea of a
rate cut, as you're laying out here for us and
what we saw last week. Where do you see monetary
policy going? Are you expecting a rate cut next month?
What's the cadence afterward?
Speaker 4 (09:52):
If so, so, we haven't changed our forecasts much at
all over the last little while. We continue to see
two more rate cuts this year September and December twenty
five basis points each and about four next year, probably
a quarterly cadence, being my guest, like four times next
year and two more times this year.
Speaker 7 (10:13):
So that's sort of how.
Speaker 4 (10:14):
We see the economic landscape playing out right now. Of course,
lots can change depending on how some of these trade
deals go, depending on how inflation pans out, what's happening
on the jobs front as well. But right now, I
think it's a pretty fair, you know, safe sort of
you know bet to take that you know, a couple
more a couple of this year, although I don't think
every single Fed policy maker is on board with that.
Speaker 2 (10:36):
The President late on Friday said the US is conducting
a quote major tariff investigation on furniture coming into the
United States. Just when you kind of thought that there
was a little bit of clarity when it came to
what was happening with tariffs, there's a new element thrown
into this. How big of an effect does that have
(10:56):
in your view on just the way that countries are
thinking about the United States as a trading partner.
Speaker 4 (11:03):
So I guess it just suggests that and again, full disclosure,
that wasn't even on my radar furniture, but it sort
of leans into the whole lumber and steal, you know,
tariff category. But it just gives us a reminder that
nothing is off the table in terms of tariffs and
if they are deemed to be you know, a possible
(11:26):
source of national security or whatever, or there's some type
of unfairness kicking in, then yes, it's going to be
the focus or one of the it's going to be
one of the things that the administration is going to
focus on. So we can't get too comfortable with it.
And it also suggests that, you know, potentially in the
inflation story, we might start seeing those stronger inflation inflationary
(11:48):
pressures perk up again incoming months, because I think there's
like fifty days I believe that the administration said that
they're going to take to start of study this this sector,
and if all is found to be in order or
not in order, then you can see terrras being thrown
onto the furniture sector. So again, so we could see
potentially more inflation playing out, we could see more pressures
on the consumer front, and then we're going to have
(12:09):
to see how the fit is going to handle it,
Like again, how much of it of the higher prices
will be pushed onto the US consumer and whether or not
the US consumer can deal with it.
Speaker 6 (12:17):
Super briefly, I mean, do you believe that the US
consumer will be able to deal with this. Of course,
we saw a lot of data previously, we didn't really
see tariffs being baked in there yet.
Speaker 4 (12:26):
So so far, the US consumer has been holding up,
and we've been saying for I don't know, one hundred
years now, you know, never to underestimate the US consumer,
and I still stand by that.
Speaker 7 (12:36):
Of course.
Speaker 4 (12:36):
At the same time, it's all going to come down
to jobs and whether or not there is going to
be continued strong demand for jobs, wages especially. That's the
one thing I'm going to I want to say about
the Friday's report on personal income and spending. I want
to keep an eye on the wages and salaries component
to see whether or not we're going to still see
a solid reading. I think of the lat in the
prior month, it was a very soft reading, which is
a bit you know, disconcerting. So as long as we
(12:58):
continue to see steady gains and wages and salaries, consumers
will still be able to suck a little bit way
for the rainy to day keep a saving rate, you know,
around fourst percenters, so and yeah, then they can they
can sort of sit back and maybe wait a little bit,
wait it out a little bit. But at least they
can still as long as they have a job and
they can still afford to buy things, I think the
US consumer will be in pretty good shape. And I
(13:18):
will also say that this whole ninety day pause that
the US now has with China, which brings us to November,
I think it's November tenth, sort of also put puts off,
you know, some of these higher tariffs onto these US
products as well. So that's good news on the inflation front.
Although I just see a headline just flash in front
of me about how prisident Trump is threatening the China
(13:40):
with two percent.
Speaker 2 (13:42):
Always stay glued, Always take glued to the terminal for
all the latest jenniferly Over at a BMO.
Speaker 3 (13:49):
Stay with us.
Speaker 2 (13:50):
More from Bloomberg Business Week Daily coming up after this.
Speaker 1 (13:57):
This is the Bloomberg Business Weekday Daily podcast. Listen live
each weekday starting at two pm Eastern on Applecarplay and
Android Auto with the Bloomberg Business App. You can also
listen live on Amazon Alexa from our flagship New York station,
Just say Alexa Play Bloomberg eleven thirty.
Speaker 2 (14:18):
Boeing CEO Kelly Ortberg's campaign to rebuild the company culture
is being put to the test by a rise in
labor activism. Boeing in union leaders representing striking workers at
Saint Louis area defense factories are set to return to
the bargaining table today as they aim to end a
three week long impass. Workers have grievances over pay and
(14:38):
pensions that were sacrificed in long term contracts in the
company faces lingering l will from its past tactics. We've
got with us Sid Phillip, chief correspondent for Global Aviation
for Bloomberg News. He joins us here in the Bloomberg
BusinessWeek studio. Sid at the heart of the labor issue here,
what exactly is it? Because this is focused on the
defense portion of Boeing's business.
Speaker 8 (15:00):
Yeah, so this is Boeing's defense workers who are on strike.
So it's a smaller strike than the one we saw
last year when people making the essentially the bread and
butter commercial aircraft went on strike, and that was sort
of much more hard hitting for Boeing. This is a
smaller scale dispute, but at the same time it is
(15:20):
vitally important because Boeing defense business is in the process
of being overhauled and Kelly Oldberg has talked about how
he wants to sort of bring it to a more
steady pace of growth, a set he sort of returns,
and that's really been put to the test by this stoppage,
which is basically affecting output. The lines are still open,
unlike when the Seattle strike happened. The lines are still
(15:42):
open in Saint Louis, but at the same time, output
is nowhere near it should where it should be.
Speaker 6 (15:48):
Sid So it seems as there's some pretty key requests
here that they are looking for here at the union
to see that Boeing is able to give them. But
we're dealing with the three week long impass here is
this long? How long can these potentially be drawn out for?
Speaker 8 (16:02):
I mean, the previous strike went on for nineteen nine days,
and so this is not the longest strike that's been
that the company's faced. At the same time, it is
disruptive for the Company's disruptive to the efforts to turn
around the company, and it is disruptive for Boeing because
there's just one more fire that they need to fight
at a time when they're already fighting many fires.
Speaker 2 (16:21):
You know, I'm they're doing a good job, though, I
think analyst and investors would say, of combating some of
the issues that the company has had for all intents
and purposes, Kelly Ordberg, analyst and investors would say, has
done a pretty good job turning the company around, and
now it finds itself in this unique position as being
essentially this bargaining trip when it comes to US trade
(16:43):
it does.
Speaker 8 (16:44):
I mean Boeing has sort of turned around the corner
since it's massive. It had those the grounding of the
sevent thry seven. Following those two fatal crashes, the plane
came back into service, and last year we had the
dope plug blowout, which then sort of put back scrutiny
on Boeing. We had the strike last year, So Kelly
Ottberg has managed to sort of start turning the process,
the process of turning the company around. At the same time,
(17:06):
the company still has long ways to go before it's
actually on a stable footing.
Speaker 6 (17:10):
So you say that it has long ways to go,
what are you looking for? What are investors looking for here?
Speaker 8 (17:16):
So investors are looking for when Boeing will be sort
of untapped by It's the FA at the moment is
kept production of the seven three seven at thirty eight
a month. They're looking to see where the signs are
in terms of being able to go to forty two
a month and then potentially go to beyond where they
were a pre pandemic. Air Bus has talked about seventy
five a month on the competing eight three twenty neum.
(17:37):
So this is where Boeing would sort of in a
in a scenario where they can actually get everything together,
that's where Boeing would be.
Speaker 2 (17:45):
You and the team last week for the first to
report that Boeing is close to ending its sales drought
with China. The story moving Boeing shares as much as
three point seven percent. Boeing said to be in talks
to sell up to five hundred jets to China.
Speaker 3 (17:58):
Is that going to happen?
Speaker 8 (18:00):
Waiting to see, I mean a lot of it depends
on the trade negotiations that are underway between the US
and China, and we understand that any any agreement with
Boeing would be conditional on some sort of trade agreement
being reached, and Boeing has become emblematic of trade agreements
across the world. I mean, we saw that with Qatar,
(18:20):
we saw that with other deals where trumped outs the
Boeing angle of it is as part of the wins
for the US, and so Boeing has become really crucial
to US foreign policy and trade negotiations, and this would
be one of the biggest trade the biggest orders, and
potentially one of the biggest trade negotiations.
Speaker 2 (18:39):
Not to mention a seven forty seven that was given
to the US government by another country as well. Hey, Sid,
always love chatting planes with you. Sid Phillip is a
Bloomberg a Global Aviation correspondent, Chief correspondent for Global Aviation
here in our Bloomberg Interactive Brokers Studio.
Speaker 3 (18:58):
Stay with us.
Speaker 2 (18:59):
More from Bloomberg Business Week Daily coming up after this.
Speaker 1 (19:06):
You're listening to the Bloomberg Business Week Daily Podcast. Catch
us live weekday afternoons from two to five e's during
Listen on Applecarplay and Android Otto with the Bloomberg Business app,
or watch us live on YouTube.
Speaker 2 (19:20):
I want to bring in Christina Ksotis, CEO of the
Pittsburgh International Airport. We're going to talk to you about
the airport update in just a minute, specifically that new
terminal and how it's going setting to open up this fall. First, though,
give us an update on how business is shaping up
for the summer, because when we spoke earlier in the summer,
you gave us the impression that things were looking pretty good.
Speaker 9 (19:43):
They are looking pretty good, and they are pretty good.
We're actually having our second busiest June in nearly twenty years.
But the industry overall is definitely seeing some softness, and
I'm confident that. On Bloomberg, I've heard you cover airline
earning and what Ed Bastian was saying about, you know,
the fact that airlines are having to cut capacity in
(20:05):
September in order to get back to profitability is something
that we're all paying attention to.
Speaker 2 (20:11):
Are you experiencing any cuts in routes to or from
Pittsburgh's International Airport?
Speaker 9 (20:17):
Yes, we have seen some as a result of Spirits bankruptcy, definitely,
but that's not unique to us otherwise. You know, like
I said, we're having a great summer. It's just that
we were expecting to have a better summer.
Speaker 7 (20:31):
So you know, it's we're in good shape.
Speaker 9 (20:35):
We just we're expecting we were expecting more traffic this summer.
Speaker 6 (20:38):
So what are the drivers for that, you know, pull
back drop off in traffic here over the summer well.
Speaker 9 (20:45):
So one of the things, there's no questions school there
are a lot more schools starting in August, and I
think that I agree with Ed Bastian that that definitely
has an impact on August.
Speaker 7 (20:55):
I would say that.
Speaker 9 (20:56):
The other thing is is that you know, as as
we have seen the we were all expecting much more
growth in air travel for this year when we were
doing our plans. And while we're, as I said, we're
flat against last year, we expected to see an increase.
And you know, there's a lot of reasons for that.
We're certainly not the only ones experiencing it. We are
(21:20):
seeing that globally and nationwide as well, so lots of reasons,
I'm sure.
Speaker 6 (21:27):
So are you all at all being impacted by the
strikes from Air Canada.
Speaker 9 (21:32):
We are not being impacted by the strikes for Air Canada.
We have had service flying to the markets that we
have here, Montreal and Toronto, and that has not been
an impact to us directly as of yet.
Speaker 3 (21:47):
There's only so much within your control. I don't know.
Speaker 2 (21:52):
I think maybe that's like a mantra that we all
should be repeating all the time. But I think especially
with you, because you know, you think about it from
the respective of customers, They're not necessarily the airports is
it's table stakes, right they're going to especially in a
place like Pittsburgh and New York City, It's like, okay, well,
I can choose to fly out LaGuardia, Newark or JFK
(22:13):
depending on where I'm going and where I'm coming from.
So if you think about it from your perspective, what
do you do in a situation where your expectations don't
meet reality?
Speaker 9 (22:25):
So that is I mean, first of all, that's the job,
just to be clear, right, as an airport, we are
at definitely at the mercy of the airlines and the
decisions that they make, as well as our passengers and
what's affecting them their household economies or what's happening in
their businesses. So what we've done is spent a lot
of time candidly reimagining what the airport can do and
(22:50):
be for the community, which is why we have for
as much focus as we have on the day to
day operation and making sure that it runs safely. That
we're building this new terminal, we're demonstrating to our business
partners that we are a good business partner for them.
Speaker 7 (23:05):
We are also investing.
Speaker 9 (23:07):
In a lot of other activities that perhaps airports don't
necessarily pay attention to energy independence on site saff production
Here at the airport, looking at how we use our
facility as a technology innovative innovation accelerator for airlines and
airports globally. In other words, how do we participate in
(23:28):
the broader economic impact using the facilities that we have
and that has actually been incredibly successful for us.
Speaker 7 (23:35):
So while passenger traffic.
Speaker 9 (23:37):
Will drive the majority of our revenue, we are looking
to diversify that revenue stream in order to be able
to continue to invest in necessary capital and programs that
are really going to make this airport be everything it
can be and should be when traffic does return and
continues to grow, Christina.
Speaker 6 (23:54):
If summer wasn't as good, what are expectations for the fall?
Of course, we have a couple holidays, Labor Day right
around the corner. Things giving ahead. What are the expectations
moving forward in the fall.
Speaker 7 (24:04):
We're all watching.
Speaker 9 (24:05):
We're all watching, you know, We're all watching the major
airlines to see what they're going to do with capacity.
We're watching Spirit, We're looking at how Southwest is managing
and it's I mean, right now, we are expecting to
continue to not recogn to not realize what we had
budgeted in for growth. So we were looking for six
(24:27):
percent this year and we are expecting to probably stay flat.
And that's something that we're working around at the end
of the day. And you know this, you both have
been covering this industry for a while. Traffic always comes back.
It always comes back, and it usually comes back stronger.
So what we do is we ride it out and
we manage in the meantime.
Speaker 2 (24:47):
Hey, we only have about a minute left, and I
want to get two more questions, and first on what
happens this winter, and if you're seeing signs of airlines
pulling back even more this winter, not yet, okay now yet,
so stay.
Speaker 3 (24:58):
Tuned for that.
Speaker 2 (24:59):
We could also airlines increased capacity too. It doesn't just
go one way. Let's talk about October and the new
terminal opening. Still on track for October.
Speaker 7 (25:09):
Still on track. We have not set a final date yet,
but yes, still on track. We are moving forward with.
Speaker 9 (25:14):
Lots of trials and testing, integrated trials, and lots of
events for the community and for the industry to let
everybody see what they can expect. But yeah, we are
so far on track for sometime in October date.
Speaker 7 (25:27):
To be determined.
Speaker 3 (25:28):
What can people expect?
Speaker 7 (25:30):
Oh my gosh, it's fantastic. You should come see it.
Speaker 2 (25:33):
As I saw it under construction, it was just walls
that I couldn't see.
Speaker 3 (25:36):
Into, so I don't know.
Speaker 9 (25:38):
Yes, it's different now, okay, so it's actually like nothing
else in the US.
Speaker 7 (25:43):
It's beautiful. It's filled with lots of natural light.
Speaker 9 (25:46):
There's lots of space and lots of good intuitive wayfinding,
universal access space for meters and greeters. It makes sure
that everybody who needs to use this airport as either
an employee or a passenger and or a partner is
going to get what they need and be able to
deliver services to each other rather seamlessly. So it's spectacular
(26:08):
in terms of design, and the services will deliver we
think will be far superior to what we're able to
do today. A lot of that enabled by technology that
keeps people still at the center.
Speaker 2 (26:17):
Well, looking forward to checking it out, Christina. Always great
to check in with you. Thank you as always for
joining us on Bloomberg Business Weekdaily. Christina Episodis, she's CEO
of the Pittsburgh International Airport.
Speaker 1 (26:29):
This is the Bloomberg Business Week Daily podcast, available on Apple, Spotify,
and anywhere else you get your podcasts. Listen live weekday
afternoons from two to five pm Eastern on Bloomberg dot Com,
the iHeartRadio app, tune In, and the Bloomberg Business App.
You can also watch us live every weekday on YouTube
(26:50):
and always on the Bloomberg Terminal
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Tim Stenovec
Carol Massar
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