
Deals Veteran Ken Moelis Sees World ‘Getting Better Every Day'
Ken Moelis, the veteran Wall Street dealmaker, predicted a golden era of prosperity across the globe, shrugging off tariff uncertainty and wars in the Middle East.
'The world is getting better every day,' Moelis said in an interview on Bloomberg Television Wednesday, citing increased government spending in Europe along with opportunities in the UK and even potentially Iran. 'If you keep your eyes on the long term, I'm very optimistic. The problem with the world today is pessimists get the headlines. Everybody trying to point out everything negative that can happen.'
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
39 minutes ago
- Yahoo
Trump Policies Will Cut Deficits Up to $11 Trillion, White House Economist Says
(Bloomberg) -- President Donald Trump's policies will reduce US fiscal deficits by up to $11 trillion over the coming decade, according to the White House's chief economist — a projection that defies analysts who say government debt is poised to climb to record highs in coming years. Bezos Wedding Draws Protests, Soul-Searching Over Tourism in Venice US Renters Face Storm of Rising Costs US State Budget Wounds Intensify From Trump, DOGE Policy Shifts Commuters Are Caught in Johannesburg's Taxi Feuds as Transit Lags 'We calculate that, overall, the reduction in deficits as a result of the total suite of the president's policies is going to be roughly $8.5 to $11 trillion over the 10-year budget window,' Stephen Miran, chair of the Council of Economic Advisers, told reporters on a call Wednesday. 'Those are very big numbers.' About half the savings, or $3 trillion to $5 trillion, would come from faster economic growth — thanks to the pending Republican tax cut bill, along with deregulation efforts — Miran argued. He also cited a $3 trillion bump in revenues from Trump's tariff hikes, referring reporters to the Congressional Budget Office's recent calculation — which came in at $2.8 trillion. Reduced debt loads thanks in part to those savings will help to bring down the US Treasury's interest costs by approximately $1 trillion to $1.5 trillion, he said. Miran was speaking on a call touting the benefits of the GOP's 'One Big Beautiful Bill' of tax and spending cuts that Trump has called on his party to pass in Congress by July 4. The House passed one draft last month, and the Senate is now aiming to approve its version this week. The House-passed version of the package was most recently estimated by the CBO to boost the deficit, not cut it, by some $2.8 trillion. The CBO analysis on tariffs also assumed that the tariff rates in effect as of mid-May would be in place for a decade — even though trade talks are under way that may reduce those levies, and Trump won't be in office throughout that period. Trade Agreements A preliminary analysis from the Tax Foundation found the Senate bill would cost $3.9 trillion over a decade, after accounting for economic impacts. Miran also said that he's optimistic there will be a flurry of framework agreements with US trading partners getting announced by July 9, the expiration date for Trump's pause on reciprocal tariffs. Agreements will depend on the willingness of other countries to engage, Miran said, adding that he expects there to be 'some stubborn holdouts.' Any agreements notwithstanding, Miran said there's no downside risk to the CBO's $2.8 trillion estimate for increased revenue from tariffs. The CEA offered a breakdown of its analysis showing the impact of Trump's policies, which included the following estimates: Faster growth thanks to the tax cuts will shrink fiscal deficits by $2.1 trillion to $2.3 trillion over a decade. Stronger growth due to deregulation and Trump's energy policies will narrow the deficit by another $1.3 trillion to $3.7 trillion. The US debt-to-gross domestic product ratio will fall to 94% by 2034, instead of rising to 117% if Trump's 2017 tax cuts were allowed to expire at year-end. Analysis by the non-partisan CBO in January that incorporated an expectation for the expiration of the 2017 tax reductions showed the US on course for a 107% debt-to-GDP ratio by 2029 — exceeding the all-time high reached in 1946, just after the end of World War II. For his part, Treasury Secretary Scott Bessent earlier this month said there's 'varying scoring' of the tax bill, telling lawmakers, 'It is my view that over the 10-year window, it will decrease.' Federal budget deficits have exceeded 6% of GDP the past two years, despite strong economic growth and job gains. Bessent said this month that the 2025 gap would come in between 6.5% and 6.7%. When it downgraded the US sovereign rating last month, Moody's Ratings said it expected deficits to widen, reaching nearly 9% of GDP by 2035, 'driven mainly by increased interest payments on debt, rising entitlement spending, and relatively low revenue generation.' (Updates with additional estimates starting in third paragraph after 'Trade Agreements' subheadline.) Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags How to Steal a House Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? ©2025 Bloomberg L.P. Sign in to access your portfolio


Bloomberg
43 minutes ago
- Bloomberg
UK Electric Car Growth May Send Power Use Soaring Late at Night
Home car chargers typically power up overnight when energy is plentiful and cheap. But that's set to change as more and more drivers go electric, upending the traditional supply-demand balance. A survey of 854 UK homes by researcher Energy Systems Catapult showed power use among those with a charger spikes at night, rather than in the usual early-evening period. As EV uptake increases, energy tariffs may need to change to avoid 'crowding' demand into fixed, low-cost periods, it said.
Yahoo
43 minutes ago
- Yahoo
AI Titans Struggle to Use Rising Clout to Block State Laws
(Bloomberg) -- Staunch opposition from a handful of Republican lawmakers is endangering the tech industry's drive to attach a ban on state regulation of artificial intelligence to Donald Trump's tax bill. Bezos Wedding Draws Protests, Soul-Searching Over Tourism in Venice US Renters Face Storm of Rising Costs US State Budget Wounds Intensify From Trump, DOGE Policy Shifts Commuters Are Caught in Johannesburg's Taxi Feuds as Transit Lags But AI titans' success in persuading the Trump administration and Republican congressional leaders to at least initially incorporate the controversial proposal into the party's centerpiece legislation is a stunning demonstration of their ascendant influence in Washington. Even if the pause on state AI laws is excluded from the tax bill, the maneuver shows key power centers of the Republican party firmly behind the AI industry's wish for minimal regulatory interference as the emerging technology enters a potentially pivotal phase. That influence is likely to shape the Trump administration's executive actions and possibly future legislation unburdened by the tight timetable and complicated politics of the tax bill. The 10-year pause tucked into the House version of the tax bill and current Senate draft would block states from enforcing AI laws. In the absence of federal regulation, states over the past few years have enacted dozens of new laws — curbing deepfakes, protecting artists, banning algorithmic discrimination — aimed at preventing harms from the nascent technology. The ban is a top priority for big tech companies like Meta Platforms Inc. as well as venture capital firms, such as Andreessen Horowitz, led by Trump supporter Marc Andreessen, which backs smaller but still powerful players. 'Don't expect it to disappear,' said Joseph Hoefer, AI policy lead at lobbying firm Monument Advocacy, who represents clients including Booz Allen Hamilton and Atlassian Corp. 'This provision, or some version of it, will likely become a mainstay in any serious AI legislation going forward.' But the unified Democratic opposition to Trump's tax bill and the president's eagerness for quick passage give Republican opponents of a ban a lot of leverage since the party can afford to lose only three Republican senators. At least four Republican senators expressed reservations about the ban on AI regulation in interviews. Republican senators Marsha Blackburn of Tennessee and Josh Hawley of Missouri have both vowed to strip the provision from the legislation. 'We cannot prohibit states across the country from protecting Americans, including the vibrant creative community in Tennessee, from the harms of AI,' said Blackburn, whose state has a new law that protects musicians and artists from unauthorized AI use and is home to country music capital Nashville. Florida Republican Senator Rick Scott told Bloomberg News he believes Congress has to 'continue to allow our states to innovate.' Senator Ron Johnson of Wisconsin said a decade-long freeze 'might be a little long.' Senate Commerce Chair Ted Cruz, a Texas Republican, on Wednesday released an updated version of his committee's portion of the bill that specifies states could still pass 'tech-neutral laws' that impact AI, such as broader consumer protection or intellectual property laws. Supporters of the ban, including industry lobbyists, are seizing on the opportunity to influence congressional action by flooding the Hill this week to convince Republicans the AI provision should remain in Trump's bill. Companies have largely deferred to trade associations like the Chamber of Commerce and tech groups like INCOMPAS in the lobbying fight. The Chamber of Commerce in a statement said they support the provision because it would stop 'confusing' state and local AI regulations. 'We cannot afford to wake up to a future where 50 different states have enacted 50 conflicting approaches to AI safety and security,' said Fred Humphries, corporate vice president of US government affairs for Microsoft Corp. White House tech adviser Michael Kratsios and AI czar David Sacks have publicly and privately praised the idea of a pause on state regulation. Kratsios at a Bloomberg event earlier this month said there are 'significant downsides' to a patchwork of state regulations and supports a national standard, which he added would benefit smaller tech companies in the market. A spokesperson for the White House Office of Science and Technology Policy said the office has 'not been involved' in conversations about the bill. The White House did not immediately respond to a request for comment. The struggle has highlighted internal Republican battle lines over how to handle the fast-moving technology backed by trillions of dollars in investments. Hardline conservative critics, including the influential think tank Heritage Foundation, say the proposal would infringe on states' ability to protect their citizens against risks posed by AI. Officials in all 50 states, including some Republican attorneys general, and dozens of advocacy groups have also criticized the GOP effort. Senator Ed Markey of Massachusetts, a Democrat, said he plans to file an amendment to strip the moratorium out of the tax legislation. Republican opponents expect to join forces with Democrats to try to kill the measure. 'It's pretty clear that there's a bipartisan opposition,' Markey said. Conservative Republicans in the House also vowed to oppose the provision. But some supporters of the regulation ban still are optimistic it will remain in the tax package. 'I don't even think this is the top 10 most controversial things in the 'Big Beautiful Bill' politically,' said Neil Chilson, head of AI policy with the tech-backed Abundance Institute. 'There will be horse-trading. I think this has a real shot.' And the support of key Trump officials signals the path the administration is setting. Sacks, the White House AI and crypto czar, earlier this month said the moratorium is the 'correct small government position.' 'The America First position should be to support a moderate and innovation-friendly regulatory regime at the federal level, which will help rather than hobble the U.S. in winning the AI race,' Sacks said in a post on X. (Updates with Chamber of Commerce statement in 14th paragraph and new version of legislation released in 12th paragraph) Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags How to Steal a House Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? ©2025 Bloomberg L.P. Sign in to access your portfolio