Tesla beat Wall Street’s profit expectations to start the year as the automaker said demand for its electric vehicles is rebounding around the globe, hinting at a possible recovery for its long-struggling automotive business.

Adjusted earnings rose to 41 cents a share in the first quarter, the company said Wednesday in a statement, higher than the 34-cent average of analyst estimates compiled by Bloomberg. It’s the second straight quarter Tesla’s earnings have exceeded expectations.

Tesla said it “saw continued growth in demand for our vehicles” in parts of Asia-Pacific and South America, along with a rebound in North America and the Europe-Middle East region. The surprisingly optimistic comments come several weeks after the automaker reported one of its worst quarters of auto sales in years.

For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:

• Steve Man, Bloomberg Intelligence Global Autos and Industrials Research Analyst
• Ed Ludlow, Bloomberg Tech co-host
• Ross Gerber, President and CEO at Gerber Kawasaki

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Apple named hardware chief John Ternus as the iPhone maker’s next leader, with Chief Executive Officer Tim Cook shifting to the role of executive chairman.

Ternus, 50, will become CEO on Sept. 1, the company said in a statement Monday. The Apple veteran was head of hardware engineering since 2021 and has spent 25 years focused on product development at the iPhone maker. Bloomberg News previously reported that Ternus was Cook’s heir apparent.

Ternus’s hardware engineering division will be taken over by longtime deputy Tom Marieb, according to a person with knowledge of the matter. He will report to newly named Chief Hardware Officer Johny Srouji. In that role, Srouji is gaining oversight of a newly combined hardware engineering and hardware technologies group.

For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:

• Bloomberg News Senior Executive Editor for Global Technology Tom Giles
• Bloomberg Intelligence Global Tech Research Head Mandeep Singh

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President Donald Trump said he’ll send representatives to Pakistan for talks to end the Iran war on Monday evening, while again threatening to strike civilian infrastructure if Tehran doesn’t agree to a deal. Axios is reporting that Vice President Vance will lead the delegation to the negotiations in Islamabad. The President told Fox News that Special Envoy Steve Witkoff will go to the talks, while the New York Post reported that Jared Kushner will also participate.

The standoff over Hormuz — through which about a fifth of the world’s oil flowed before the US-Israeli war on Iran — threatens to deepen the global energy crisis and undermine expectations of an imminent peace deal. Hormuz is one of several unresolved issues in peace talks, including Iran’s nuclear program and Israel’s ongoing invasion of Lebanon.

On today's show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo speak with:

- Bloomberg News White House Correspondent Courtney Subramanian and Former Defense Secretary Mark Esper, on President Trump's comments to various media outlets this morning, declaring he's ready to "knock out" Iran's power plants and bridges.

- Axios White House Reporter Marc Caputo and The Atlantic Staff Writer Nancy Youssef, on US negotiators heading to Pakistan for talks.

- Chef Andrew Zimmern on eating for sustainability, and the role of 'blue foods' in combating global hunger.

Plus, Bloomberg's Ed Ludlow joins David, Christina, and Lisa to play Pointed: The News Quiz for Risk Takers.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

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Iran broadcast to ships in the Strait of Hormuz that the vital oil and gas channel is once again closed to maritime traffic, with owners reporting gunfire in the waterway and ships abandoning efforts to transit after a brief spell when it appeared it might reopen.

The fresh closure was the culmination of hours of chaos and confusion that saw some ships race to get out, only to U-turn. One supertanker issued a radio broadcast that it was coming under gunfire, the two shipowners said, asking not to be identified because of the security situation. A UK naval group also warned that a tanker was approached by two Iranian gun boats and fired upon without warning. It subsequently reported another ship was hit by an unknown projectile.

On today's show, Bloomberg This Weekend hosts David Gura, Christina Ruffini, and Lisa Mateo speak with:

- International Maritime Organization Secretary General Arsenio Dominguez, Former Deputy Assistant Secretary of State for Iraq and Iran under President Trump, Andrew Peek, and Former Acting Principal Deputy Assistant Secretary for the Bureau of Near Eastern Affairs under President Biden, Jennifer Gavito, on an intensified US blockade amid reported gunfire in the Strait.

- Gary Gensler, Former Chair of the US Securities & Exchange Commission, on an investigation into prediction market trades in the oil futures market ahead of recent policy pivots by President Trump.

- Puck Founding Partner Bill Cohan and Bloomberg TV Anchor Dani Burger, on why major banks are shaking off fears around private credit.

- Boston Globe Reporter Emily Sweeney on her viral accent and how journalism is pivoting in the social media age.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

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President Donald Trump said the US will blockade the Strait of Hormuz following the failure of peace talks with Iran in Islamabad this weekend, a move that will likely exacerbate oil and fuel shortages globally.

“Effective immediately, the United States Navy, the Finest in the World, will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz,” Trump said in a social media post, essentially blocking Iran’s means of exporting oil.

On today's show, Bloomberg This Weekend hosts Christina Ruffini, Tim Stenovec, and Lisa Mateo speak with:

- Former National Security Adviser John Bolton, who says a blockade "makes sense" following the failed peace talks with Iran in Islamabad.

- Axios National Security Editor Dave Lawler, Bloomberg News White House Reporter Jeff Mason and Congressional Reporter Alicia Diaz, on what President Trump's blockade could entail.

- Mike McGlone, Bloomberg Intelligence Senior Commodities Strategist, on what an escalation in the Strait will do to oil and energy prices.

- Bloomberg News Senior Editor Derek Wallbank on using ChatGPT to train for the Paris Marathon.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

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The US and Iran began negotiations on Saturday to end the conflict in the Middle East. Around 5:45pm in Islamabad, Iran’s semi-official Fars news agency said talks had begun, without specifying whether they are being conducted directly or through intermediaries.

US Vice President JD Vance landed in Pakistan’s capital, joined by special envoy Steve Witkoff and Trump’s son-in-law Jared Kushner for talks aimed at cementing a lasting resolution to a six-week conflict after a fragile ceasefire took hold several days ago.

On today's show, Bloomberg This Weekend hosts Christina Ruffini, Tim Stenovec, and Lisa Mateo speak with:

- Bloomberg News Israel Bureau Chief Ethan Bronner, Bloomberg News White House Correspondent Catherine Lucey, and AP International Correspondent Philip Crowther, on the US delegation meeting with Pakistan's Prime Minister Shehbaz Sharif.

- Going.com Travel Expert Katy Nastro, on how the war in Iran could impact summer travel costs.

- Arthur Brooks, Author of "The Meaning of Your Life," on how to achieve happiness in the digital era.

Plus, Christina, Tim, and Lisa play Pointed: The News Quiz for Risk Takers.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

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The US and Iran agreed to a two-week ceasefire that’s expected to halt the American-Israeli military campaign in exchange for Tehran reopening the Strait of Hormuz.

President Donald Trump announced the agreement Tuesday on social media hours after Pakistan, a mediator in talks, implored the US leader to back off his deadline to unleash massive devastation on Iran if it did not meet his demands. The deal buys time for the two sides to reach a longer agreement to end the six-week-old war, which has killed thousands of people and sparked a global energy crisis.
Trump said he had agreed “to suspend the bombing and attack of Iran for a period of two weeks” as long as Iran agrees to “the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz.”

For instant reaction and analysis, Bloomberg Radio host Doug Krizner speaks with:

Bloomberg State Department and Foreign Policy Reporter Eric Martin
Bloomberg This Weekend co-host Christina Ruffini
Bloomberg White House and Washington correspondent Jeff Mason
Terry Haines, founder of Pangea Policy
Daniel Byman, Director of the Warfare, Irregular Threats, and Terrorism Program at the Center

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US forces rescued an airman from Iran days after his fighter jet was shot down, while the Islamic Republic’s continued attacks sparked fires that damaged Kuwait’s oil headquarters and shut down an Emirati petrochemicals plant.

The US deployed dozens of aircraft to retrieve the injured crew member from a mountainous area, a day after a second person from the same F-15E jet was rescued, President Donald Trump said in a Truth Social post Sunday. Earlier, Trump threatened to unleash “all hell” on Iran, saying the time left on the 10-day deadline for it to make a peace deal with the US was running out.

On today's show, Bloomberg This Weekend hosts Christina Ruffini and Joe Mathieu speak with:

- Bloomberg News White House Correspondent Jeff Mason and Bloomberg News Jerusalem Reporter Dan Williams, on the successful rescue of the second American airman in Iran, and Trump's threat of a Tuesday strike on Iran's power plants and bridges.

- TMZ Founder Harvey Levin, on TMZ's push to cover members of Congress on vacation.

- Longtime Caddy for Phil Mickelson, Jim "Bones" Mackay, and IBM's SVP for Marketing & Communications, Jonathan Adashek, on IBM's collaboration with The Masters.

Plus, Christina, Joe, and Lisa Mateo discuss the stories you might have missed this week on BTW.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

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