Bloomberg Business

(Bloomberg) — President Joe Biden warned Thursday that Donald Trump leads an “extremist movement” that would undermine the nation’s institutions, as he touts efforts to protect democracy as a centerpiece of his reelection campaign.

The Trump family’s longtime banker and Donald Trump himself are set to take the witness stand in his upcoming civil fraud trial in New York, where the former president is accused of exaggerating the value of his assets by billions of dollars for a decade to dupe lenders and insurers.

Stokke AS’s owner is exploring strategic options for the Norwegian children’s brand, which sells everything from cribs and high chairs to baby carriers and strollers, people with knowledge of the matter said.

The Federal Reserve’s ability to influence the economy depends on whether “people understand what we are saying,” Chair Jerome Powell said, highlighting the importance of work done by economic educators.

A five-year truce between rivals Alphabet Inc. and Microsoft Corp. came crashing down in 2020 when the tech giants found themselves at odds over their competing web-search businesses, according to testimony at the US government’s antitrust trial against Google.

Ari Emanuel’s Endeavor Group Holdings Inc. and Fenway Sports Group, which owns the Boston Red Sox and Liverpool FC, are among US investors exploring investing in the PGA Tour, providing a possible alternative transaction to a pending deal with Saudi Arabia’s Public Investment Fund, according to people with knowledge of the matter.

Peloton Interactive Inc. shares rose as much as 11% Thursday after the company agreed to a deal with Lululemon Athletica Inc. to tap its online workouts and team up on apparel.

Less than a month after Ripple said it had agreed to acquire custodian Fortress Trust, the crypto company is backing out of the deal.

Mexico’s central bank kept interest rates unchanged for a fourth straight meeting and increased its inflation projections for next year, a sign that borrowing costs could stay higher for longer.