The Big Take from Bloomberg News brings you inside what’s shaping the world’s economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.
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A Farewell to an American Icon: The Penny
For decades, the penny has cost more to produce than it’s worth. Now, the US government is finally stopping production of the one-cent coin for good.
So, how did we get here? And what does it mean for those little Abraham Lincolns stuck behind your couch cushions? On today’s Big Take podcast, Bloomberg’s Steven Dennis takes us through the life and death of the penny, and explores what it reveals about the way the US government works.
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With Tax Bill, Trump Ushers in New Era of Executive Power
After weeks of legislative wrangling, the House passed President Trump’s signature tax bill, sending it to his desk just before his July 4 deadline. It's the latest in a sweep of major victories on legislative, military and legal fronts, all of which could impact how Trump enacts his agenda going forward.
On today’s Big Take podcast, Bloomberg’s White House and government editor Mario Parker joins Sarah Holder to discuss what the events of the last two weeks could mean for the rest of Trump’s term — and for the future of executive power.
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The Great Car Buying Bonanza Is (Probably) Over
The auto sector saw buyers race to dealerships after President Trump announced 25% tariffs on car imports and parts from outside the US. And according to new data this week, sales from major automakers appear to be losing steam ahead of Trump’s July 9 tariff deadline.
Today on the Big Take, host David Gura sits down with Bloomberg’s Detroit bureau chief David Welch to break down how Trump’s trade war could impact car companies including Tesla, GM and Ford, and what that means for car buyers heading into the summer shopping season.
Read more: US Auto Sales Lose Steam After Tariff-Induced Shopping Spree
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The American Toymaker Suing Trump Over Destructive Tariffs
Trump’s trade war has thrown American businesses, which source everything from aircraft parts to baby strollers from China, into chaos. Now some companies are challenging the president’s tariff rulings in the courts.
On today’s Big Take Asia Podcast, host K. Oanh Ha is joined by Rick Woldenberg, CEO of the toy company Learning Resources, and Bloomberg’s Lucille Liu, to talk about the impact of the trade war on US importers and Chinese manufacturers and what it ultimately means for American consumers.
Read more: Chinese Toymaker Takes Drastic Action to Survive Trump’s Tariffs
Further listening: Live from Hong Kong: Why China Can Afford to Wait for a Deal, and the US Can’t
The US and China’s High-Stakes Diplomacy
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Cruises Are So Back — And Straining Port Cities
The cruise industry is an outlier right now. Even as US summer travel is down, cruise companies are setting sail with record numbers of passengers this year. But as the industry tries to keep up with this demand, it’s facing growing pains in the port cities it relies on most.
On today’s Big Take podcast, Bloomberg reporter Redd Brown travels to Galveston, Texas — a port city that’s at the center of the industry’s ambitious expansion plans, and that is wrestling with the challenges that opportunity brings.
Read more: Why Two Million Tourists Are Boarding Cruise Ships on a Texas Island
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Zohran Mamdani, the Socialist Who Could Be NYC's New Mayor
This week, Zohran Mamdani won the first round of the Democratic primary for mayor of New York City, making him the presumptive party nominee and the early favorite to win November's general election. Endorsed by the Democratic Socialists of America, he's proposing rent freezes, universal childcare, higher taxes on corporations and the wealthy, free buses, and city-run grocery stores.
On today’s Big Take podcast, we’re featuring an interview Mamdani did with Joe Weisenthal and Tracy Alloway for the Odd Lots podcast a few weeks ago.
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For $10 Billion Dollars, the Lakers' Buss Family Steps Off the Court
Late last week, the Buss family, longtime owners of the Los Angeles Lakers, announced that they would sell the franchise for a record-breaking $10 billion valuation.
On today’s Big Take podcast, host David Gura and Bloomberg’s sports business reporter Randall Williams break down what we know about the deal so far and discuss why America’s wealthiest families seem to be getting out of the game.
Read more: Los Angeles Lakers Confirms Majority Stake Sale to Mark Walter
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Gap's Quest to Stay Cool Just Hit Its Latest Roadblock: Tariffs
At the start of 2025, Gap was cool again. The legacy American brand had started to turn around sales and rebuild its image. It was in the middle of a splashy ad campaign with the actress Parker Posey. Influencers were posting its clothes online.
But then President Trump announced his “Liberation Day” tariffs.
On today’s Big Take podcast, Bloomberg reporters Amanda Mull and Lily Meier walk host Sarah Holder through Gap’s history, its recent re-invention and the challenges it faces now. Plus, we hear from Richard Dickson himself.
Read more: Inside Gap’s Last-Ditch, Tariff-Addled Turnaround Push
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Where the China-Iran Relationship Goes From Here
China is Iran’s biggest trading partner, and sources about 14% of its oil from the country. Between China’s economic relationship with Iran and its ongoing trade negotiations with the US, the conflict between Israel and Iran, and especially US involvement, has put China in a difficult position.
Today on Big Take Asia, host Oanh Ha is joined by John Liu, who oversees Bloomberg’s China coverage from Beijing, to discuss what’s at stake for China in Iran and how the conflict could change China’s game plan – not just in the Middle East, but on the global stage.
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Lead Negotiator of Previous Iran Deal on the Odds of Another
President Trump lashed out at Iran and Israel today over concerns that a ceasefire between the two was already breaking down. But going from a fragile truce to lasting peace is complicated, particularly as Iran tries to advance its nuclear ambitions.
On today’s Big Take podcast, host David Gura sits down with former US Energy Secretary Ernest Moniz, who helped negotiate an Iran deal reached in 2015, and with Bloomberg’s Nick Wadhams. They discuss the current state of Iran’s nuclear program, what’s succeeded at the negotiating table in the past and President Trump’s objectives as he tries to broker a deal.
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There’s War in the Middle East. Why Are Oil Prices Falling?
The conventional wisdom used to be that war in the Middle East would send oil prices soaring. Not anymore.
On today’s Big Take podcast, Bloomberg Opinion’s Javier Blas and host Sarah Holder talk about the emergence of the US as the world’s largest oil producer — and how that new power dynamic is playing out in the war in Iran.
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What’s Next for Iran, Israel and the US
The United States conducted airstrikes on three of Iran’s nuclear sites over the weekend, marking a dramatic escalation of the US’s involvement in Israel’s deepening war with Tehran.
On today’s Big Take Podcast, Bloomberg national security and intelligence reporter Natalia Drozdiak and Israel Bureau Chief Ethan Bronner join host Sarah Holder to talk through what led to President Trump’s decision to strike, how the surprise attack happened and what comes next.
Read more: A Weakened Iran Can Still Inflict Pain on the US — and the World
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President Trump’s 12 Billion Dollar Tourism Wipeout
Global tariff wars, multi-country travel bans, detentions and phone-seizures at the border. President Trump’s “America first” policies create a grim picture for one group in particular: international tourists.
Foreign visitors to the US have been on the rise since the pandemic, with analysts previously expecting 2025 to be a bumper year for tourism. That is, until President Trump’s second term began. This drop in tourism is forecasted to cost the American economy $12.5 billion this year.
On Today’s episode of the Big Take, host David Gura sits down with Bloomberg reporter and Big Take Asia host K. Oanh Ha to look at the state of the tourism industry in the US, and where in the world tourists are going instead.
Read more:
- Trump’s $12 Billion Tourism Wipeout
- The US Is on Track to Lose $12 Billion in Travel Revenue in 2025
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Doing the Math on Trump’s Tax Bill
As the debate about President Trump’s tax bill — known as the “One Big Beautiful Bill” — plays out among lawmakers in Washington, there’s been increasingly heated criticism of the non-partisan Congressional Budget Office. It calculates the costs and savings from the bill — including from the White House.
On today’s episode of the Big Take, host Saleha Mohsin sits down with CBO director Phillip Swagel to hear how his agency churns out economic forecasts from inside the center of a political storm.
Further listening: Stephen Miran Explains Why There’s No Secret Dollar Pact
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How China Is Building a Powerful Army of Hackers
Teams from China used to dominate international hacking competitions, until Beijing ordered them to stop attending and take part only in domestic tournaments.
On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Jamie Tarabay about how tournaments are helping boost China’s cyber-espionage capabilities and what that means for the world.
Read more: Chinese Hacking Competitions Fuel the Country’s Broad Cyber Ambitions - Bloomberg
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Why Trump Ditched the G-7 Summit
President Trump was in Canada this week for the Group of Seven summit. But after dinner on Monday night, Trump left early, citing the conflict in the Middle East.
On today’s Big Take podcast, host David Gura speaks with Bloomberg’s Nick Wadhams in Calgary to unpack what Trump’s move could mean for Ukraine, the Middle East, trade — and for G-7 summits going forward.
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Where Does the Israel-Iran Conflict Go From Here?
Conflict between Iran and Israel has been simmering for decades — but escalated rapidly in the last few days after Israel bombed key nuclear facilities in Iran.
As world leaders convene for the G-7 in Canada this week — many are concerned about the prospect of continued fighting and a broader regional conflict.
Today on the Big Take podcast, Golnar Motevalli, who covers Iran for Bloomberg, joins host Sarah Holder to discuss the on-the-ground reality in both countries, the choices facing their heads of state and what other world leaders might do to encourage a deescalation.
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Live from Hong Kong: Why China Can Afford to Wait for a Deal, and the US Can’t
Today on the Big Take, we bring you a new episode of Trumponomics, straight from the live stage at Bloomberg’s Hong Kong Invest conference.
Stephanie Flanders leads a panel from the Hong Kong Invest conference to unpack the latest round of high-stakes trade talks between the US and China, exploring why Beijing may still have the upper hand and how far any decoupling of the two economies will go.
She's joined by Robin Xing, Chief China Economist at Morgan Stanley, Lotus Asset Management Chief Investment Officer Hao Hong, and Bloomberg reporter Rebecca Choong Wilkins.
Further reading: Why China Can Afford to Wait for a Deal, and the US Can’t
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Bloomberg’s Interview With UK Prime Minister Keir Starmer
Ahead of next week’s G-7 Summit in Calgary, Canada, Bloomberg Weekend Editor-at-Large Mishal Husain sat down for an exclusive interview with British Prime Minister Keir Starmer.
The wide-ranging conversation touched on Israel’s ongoing strikes on Iran’s nuclear facilities, the US-UK trade agreement, defense spending and more.
Read more: Starmer Says UK Has ‘Grave Concerns’ on Iran Nuclear Program
Starmer Signals Support for 3.5% NATO Aim With Talks on Date
Update on June 16: Corrects spelling of Keir Starmer in episode description
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Everything We Know About the Air India Crash
Moments after taking off, an Air India flight bound for London from an airport in Western India crashed with over 200 passengers on board. Hundreds have died and a search for survivors is ongoing.
On today’s Big Take podcast, Bloomberg’s Benedikt Kammel joins host Sarah Holder on what the crash of Boeing’s marquee 787 Dreamliner means for the company and the commercial aviation industry at large.
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Fed Chair Scott Bessent? The Race to Replace Jay Powell
President Trump says his decision on who will succeed Fed Chair Jerome Powell “is coming out very soon.” And according to new reporting from Bloomberg’s Nancy Cook and Saleha Mohsin, Treasury Secretary Scott Bessent is a contender for the job.
On today’s Big Take podcast, Nancy and Saleha join host David Gura to discuss the president’s Apprentice-style approach to selecting a Fed Chair, what he wants in Powell’s replacement and how that might impact Fed independence.
Read more: Bessent Emerging as a Contender to Succeed Fed’s Powell
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The US and China’s High-Stakes Diplomacy
Representatives for the US and China are in London this week trying to hammer out a potential trade deal. But with US access to China’s rare-earth minerals and China’s access to US semiconductor chips on the table, common ground has been hard to come by.
On today’s episode, Big Take host Sarah Holder speaks to Bloomberg’s Brendan Murray, who’s on the ground in London. And Big Take Asia host K Oanh Ha talks to Bloomberg’s John Liu about China’s thinking and what a deal could mean for both countries.
Read more: China, US Haggle Over Details as Trade Talks Stretch On
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What Happens Next in Los Angeles?
Today on the Big Take, Bloomberg national immigration reporter Alicia Caldwell joins host David Gura from Los Angeles to discuss the protests over ICE immigration raids, the clash between California and the federal government and how this fight could play out in other cities and in the courts.
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The New Economics of Broadway
Broadway has always been a high-risk, high-reward kind of business — but with costs to mount a production higher than ever, producers are leaning into new strategies to try to recoup investments. Now, as Broadway wraps its highest-grossing season on record, the hottest tickets to celebrity-studded shows are going for upwards of $800.
On today’s Big Take podcast, we speak with two Tony Award-winning producers, Daryl Roth and Lucas Katler, about what it takes to succeed these days in show business, and we hear from Bloomberg Pursuits’ Chris Rovzar about what Broadway’s new economic reality means for tourism, for art and for what audiences pay at the box office.
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Looking for a Job? The World Desperately Needs Engineers
There's a vital puzzle piece missing as rich nations aim to transform their electricity grids for the AI age: millions of skilled engineers.
On today’s Big Take podcast, Bloomberg’s Akshat Rathi joins host Sarah Holder to break down how labor shortages in the electrification industry are slowing down the green energy transition and what it would take to turn things around. Plus, the one country bucking the trend.
Read more: The Missing Engineers
Listen more: A skilled worker shortage is becoming an ‘existential’ problem for the energy transition: Bottleneck Series
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What’s Driving Europe’s Political Shift to the Right?
Poland’s election of a Trump-backed conservative nationalist president early this week is part of a larger shift to the right across the European continent: Much like in the US, conservative, nationalist and right-wing parties are gaining traction.
On today’s Big Take podcast, Bloomberg’s Rodney Jefferson and David Gura discuss the growing cultural divide behind Europe’s rising conservative movements and what their growth could mean for migration, climate policy and the future of the EU.
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Nintendo's Big Bet on Switch 2
The Nintendo Switch has generated some $100 billion in sales for the Japanese gaming giant since its launch in 2017, propelling the company’s shares to record highs.
Now the game-maker is under pressure to do even better with the new Switch 2, out this week. On today’s Big Take Asia Podcast, Bloomberg Opinion’s Gearoid Reidy joins host K. Oanh Ha to talk about why the Switch 2 is so important to Nintendo’s business and whether it can live up to the hype.
Read more: If the Switch 2 Stumbles, Nintendo Has No Plan B
Watch, from Originals: Nintendo’s High-Stakes Bet on the Switch 2
Further listening: A Turning Point in Trump’s Trade War
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A Turning Point in Trump’s Trade War
We’re more than halfway through the 90-day pause on President Trump’s sweeping reciprocal tariffs. That three-month delay was supposed to give the US time to negotiate trade deals with countries around the world. And while talks are ongoing, many deals still seem out of reach. Now, legal challenges to Trump’s tariff strategy have thrown another wrench in the administration’s plans.
On today’s Big Take podcast, host Sarah Holder sits down with Bloomberg’s Brendan Murray to hear a status report on the latest steel tariff hikes and trade negotiations, and with legal reporter Erik Larson to explore how the courts could upend Trump’s agenda.
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The Dollar’s Dominance is Unwinding in Asia
As Donald Trump tries to remake global trade, the dollar’s historic dominance in Asia is under pressure. After Taiwan’s currency saw the biggest surge against the dollar in almost 40 years in early May, some money managers are saying the spike signals the acceleration of a bigger trend of moving investments back home.
On today’s Big Take Asia Podcast, host Rebecca Choong Wilkins talks to Bloomberg’s Ruth Carson about what’s driving Asia’s shift away from the greenback and what a rewiring of global financial ties means for the region’s biggest economies.
Further listening: Carry Trades, Explained
Could the Chinese Yuan Ever Replace the US Dollar?
Watch, from Originals: Why the US Is Getting Downgraded
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Where to Go If You Need a CEO
For decades, General Electric — the conglomerate known for making everything from trains to microwaves — was also known for churning out executives. Time spent at the company’s Crotonville campus was seen as the gold standard for leadership training in Corporate America. But as GE has lost its luster, a new CEO pipeline has emerged.
On today’s Big Take podcast, Bloomberg work and management reporter Matt Boyle joins host David Gura to share what he’s discovered about where tomorrow's CEOs are learning to lead — and what it means for global business.
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The Financial Stakes of Trump’s Attacks on Harvard
The Trump administration has ramped up its attacks on Harvard University — threatening its tax-exempt status, federal funding and its ability to enroll international students.
On today’s Big Take podcast, Bloomberg’s Brooke Sutherland and Francesca Maglione join host David Gura to unpack the latest developments and how they could ripple beyond the bounds of Harvard’s campus.
Read more: Here Are the Many Ways Trump Is Attacking Harvard
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The MAGA-ification of Mark Zuckerberg
Meta CEO Mark Zuckerberg has been going through a bit of a MAGA rebrand, complete with a new look — gold chains, grown-out hair, custom boxy, black T-shirts — and appearances on so-called manosphere podcasts hosted by MAGA-friendly comedians like Theo Von and Joe Rogan.
Those changes have translated to his company, too. Since January, Meta has rolled back diversity efforts, weakened hate speech policies, disbanded its civil-rights team, eliminated its outside fact-checking system and added a prominent Trump ally to its board of directors.
On today’s Big Take podcast, Bloomberg’s Riley Griffin joins host Sarah Holder to discuss the political evolution of Mark Zuckerberg: What he hopes to gain from getting closer to Trump and what he has to show for it.
Read more: Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back?
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They Bought Dream Homes in Tulum. Then Came the Nightmare
Tulum, Mexico has exploded in popularity since the early years of the pandemic. The area’s few Covid restrictions, picturesque beaches and laidback vibes attracted lockdown-weary travelers and helped trigger a real estate boom.
On today’s Big Take podcast, Bloomberg reporters Andrea Navarro and Tanaz Meghjani join host Sarah Holder to discuss the dark side of a pandemic-era development spree in Tulum that has left a trail of ripped off investors, millions of dollars in missing cash and even two bodies in its wake.
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Are Current Beauty Trends Recession Indicators? It’s Complicated.
In 2001, it was lipstick. After the 2008 financial crisis, it was DIY haircuts. In times of economic turmoil, consumers tend to change the way they spend on makeup and beauty. So what is the beauty industry telling us now about the state of the US economy?
On today’s Big Take podcast, Bloomberg’s Ben Steverman visits a beauty convention and talks to masseuses and hair stylists about the trends they’re seeing in their salons, and cosmetics reporter Jeannette Neumann crunches the numbers on how these consumer behaviors are hitting companies’ bottom lines.
Read more:
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Who Is the Mysterious Founder of China’s DeepSeek?
Despite the global hype around China’s DeepSeek, very little is known about the man behind it – Liang Wenfeng.
On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg's Saritha Rai about the tech founder who led DeepSeek to the frontline of AI advances and what the company’s rise tells us about the battle for AI dominance.
Further listening: Why DeepSeek Sent Nvidia, Other Tech Stocks Tumbling
Watch, from Originals: How China’s DeepSeek Came for Big AI
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At 83, Media Mogul Barry Diller Is Ready to Tell His Story
After decades in the public eye, 83-year-old media mogul and Fox co-founder Barry Diller is finally ready to tell his story.
On today’s Big Take podcast, Diller joins host David Gura to talk about his new memoir, Who Knew, his storied career as an entertainment executive and his decision to speak publicly about his sexuality for the first time. Plus, how he’s navigating President Trump’s shifting trade and regulatory policies.
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Bloomberg’s Elon Musk Interview
On stage at the Qatar Economic Forum on Tuesday, editor at large for Bloomberg Weekend Mishal Husain conducted a nearly 40-minute, wide-ranging interview with billionaire Elon Musk.
Husain asked Musk about his future at Tesla, his ongoing feud with OpenAI CEO Sam Altman, the possibility of Starlink going public and more. At times, the conversation grew heated, particularly when Mishal asked about reports of his communication with Russian President Vladimir Putin.
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Did Apple Sleep Through the AI Revolution?
Over the past year, Apple has pulled out all the stops to tout shiny new AI tools: from big presentations at its Worldwide Developers Conference to ads featuring The Last of Us star Bella Ramsey. Now, the company is facing questions about what it’s promised versus what it’s delivered.
On today’s Big Take podcast, Bloomberg’s Mark Gurman takes host Sarah Holder inside the company’s efforts to keep up on AI and what it needs to do next to stay in the game.
Read more: Why Apple Still Hasn’t Cracked AI
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What It Takes to Negotiate With China
As of this week, the trade war between the US and China is on pause, with both sides hoping to agree on a new trade deal by early August. But questions remain about how realistic that timetable could be, given the challenges facing the world’s two largest economies, who both collaborate and compete with one another.
On today’s Big Take podcast, Former US Ambassador to China Nicholas Burns joins host David Gura to discuss the trade war, the challenges facing his successor and what he’s telling foreign policy students who are worried about the future of diplomacy. “We’ve gotta steel ourselves for the next decade or two to a historic competition with China. And China right now is stronger.”
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President Trump’s Plans to Monetize the Middle East
President Trump is wrapping a whirlwind trip to the Middle East — complete with a flurry of proposed investment deals , controversial gifts and a major shift in US-Syria policy.
On today’s Big Take podcast, Bloomberg’s Joumanna Bercetche joins host David Gura to unpack the biggest headlines from the president’s tour of the Persian Gulf and discuss what they tell us about his larger plans for the region.
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Small Towns Are Getting Hooked on ICE Detention
Like a growing number of US communities, Torrance County, New Mexico, is convinced its financial survival depends on locking immigrants up. A lucrative ICE contract keeps a private detention facility open that local politicians say the area needs.
On today’s Big Take podcast, Bloomberg reporters Rachel Adams-Heard and Fola Akinnibi examine how these private facilities are becoming key to the US government’s immigration crackdown – and the financial incentives making it harder for small communities to quit them.
Read more: Addicted to ICE
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How India and Pakistan Averted War
Last week, India and Pakistan saw the worst fighting in half a century — and came close to an all-out war. But the conflict came to an uneasy and sudden halt after Donald Trump declared the two countries reached a ceasefire.
On today’s Big Take Asia Podcast, Rebecca Choong Wilkins talks to Bloomberg’s Dan Strumpf about how the deadly clashes and ceasefire unfolded and the implications of US mediation in the decades-old conflict.
Read more: Trump Truce Leaves India Furious, Pakistan Elated as Risks Loom
Further listening: The Rise of Modi, Part 1: Why India’s Leader Is So Popular – and Polarizing
The Rise of Modi, Part 2: How India’s Leader Came Back From the Brink
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Is the US-China Trade War Over?
In a stunning turn of events, the US and China announced a dramatic reduction in tariffs, which President Trump portrayed as a “total reset” with China. Stocks rose following the news, but what lies ahead once the 90-day reprieve expires remains uncertain.
On today’s Big Take podcast, Bloomberg Treasury reporter Dan Flatley joins host David Gura to discuss the major takeaways from these latest negotiations and what they could mean for the world’s two largest economies.
Read more:
- ‘Buy America’ Sweeps Across Global Markets After Trade Talks
- China Tariff Relief Spurs Shipping Rush, U-Turn on Price Hikes
- Nasdaq 100 Enters Bull Market After US-China Truce: Markets Wrap
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What's Behind the World's Matcha Shortage
Japan has a matcha shortage despite record levels of production. Shops are selling out of the green tea powder as soon as they hit the shelves.
On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg's Mia Glass about the world’s obsession with matcha – and why producers can’t keep up with the rising demand.
Read more: The Global Matcha Boom Is Driving a Shortage in Japan
Further listening: Japan’s Small Businesses Have a Problem. They Don’t Know How to Raise Prices
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Big Tech Is on Trial. What That Means for the Future of the Internet
Google has lost two antitrust cases in the past year; Meta is currently in court over alleged anti-competitive behavior. Big Tech is in a moment of reckoning that could reshape the industry – and your internet use – for decades to come.
Today on the Big Take podcast, Bloomberg’s Sarah Frier and Sara Forden join host Sarah Holder to unpack the trials seeking to rein in Silicon Valley. Will the antitrust cases against Google and Meta help innovation flourish, or kill America’s chances at AI dominance?
Read more: Apple Eyes Move to AI Search, Ending Era Defined by Google
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Telemarketers’ New Trick to Sell Bare-Bones Health Plans
A few years ago, a former sitcom writer came up with a weird way to sell Americans cheap health plans, using a loophole in the Affordable Care Act. More than 100,000 households have signed up, but many say the coverage isn’t what they were promised.
On today’s Big Take podcast, Bloomberg reporter Zach Mider shares what he learned while investigating the plans and what it could mean for the American health-care system if more people turn to them.
Read more: A Former TV Writer Found a Health-Care Loophole That Threatens to Blow Up Obamacare
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How a CEO’s Faked Results Led to a $300 Million Wipeout
In late 2018, five years after launching fish-feeding company eFishery, Gibran Huzaifah found himself all out of cash. To save his business, the CEO started plugging fake numbers into financial reports. The brighter picture drew hundreds of millions of investor dollars. But his house of cards was doomed to collapse.
On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg's David Ramli about the fall of eFishery and what it says about the risks of venture capital investing.
Read more: CEO Explains How He Faked Results in $300 Million Meltdown
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Warren Buffett Passes the Baton
Warren Buffett shocked shareholders when he announced he’d be stepping down as CEO of Berkshire Hathaway. The 94-year-old business giant had been running the behemoth company for more than 50 years, and his investment decisions have earned him the nickname the “Oracle of Omaha.”
On today’s Big Take podcast, Bloomberg senior markets editor and Opinion columnist John Authers unpacks how Warren Buffett changed investing, what it would take for successors to fill his shoes and whether Berkshire Hathaway is headed for a break-up.
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Your Morning Commute Could Get Way Worse
At the height of the Covid-19 pandemic, the US government stepped in with aid to keep mass transit agencies afloat. But that money is running out and ridership hasn’t rebounded.
On today’s Big Take podcast, Bloomberg’s Sri Taylor and Aaron Gordon join host David Gura to discuss why advocates now fear many transit systems are on the verge of a so-called “death spiral” — a vicious cycle of less funding, low ridership and cuts to services that could impact everyone’s commute.
Read more: A $6 Billion Shortfall Has US Mass Transit Facing a Death Spiral
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Earnings Are In. Companies Can’t Hide From Tariffs Anymore
One month after Trump’s “Liberation Day” tariffs, Q1 earnings reports for a range of US companies are in.
On today’s episode, Bloomberg’s Shelly Banjo joins host Sarah Holder to talk through what those reports are revealing about companies’ reactions to Trump’s trade war. Are they pausing, pivoting or panicking?
Read more of Shelly Banjo’s work.
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How Goldman Sachs Is Thinking About Tariffs
The uncertainty caused by Trump’s tariff policies has been spooking business leaders and roiling the markets. And according to Goldman Sachs CEO David Solomon, there could be more economic pain ahead — at least in the short term.
Today on the Big Take, Bloomberg editor-at-large Francine Lacqua sits down with Solomon at the Norwegian sovereign wealth fund’s annual investment conference in Oslo. He shares his thoughts on the fate of the US dollar as a reserve currency, opportunities for new investment in European markets and his predictions for global growth in the coming year.
Read more: Goldman’s Solomon Says Markets to ‘Settle Down’ After Chaos
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What a Liberal Victory Means for Canada and the Trade War
In electing Mark Carney as prime minister, Canadians have given him and the Liberal Party a mandate. But it was a narrow victory — one that will require Carney to work with another party to achieve his priorities. His most urgent: trade talks with US President Donald Trump.
On today’s Big Take podcast, David Gura sits down with Canadian government reporter Brian Platt in Ottawa to discuss the results of the election, what a fourth consecutive Liberal term means for the country’s future and how Carney might try to position Canada in trade negotiations.
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Inside Trump’s First 100 Days
President Trump will celebrate 100 days back in office this week. The milestone comes amid a US-China trade war, ongoing conflict overseas and high-stakes battles over the future of higher education.
On today’s Big Take podcast, Bloomberg’s Josh Wingrove joins host David Gura to take stock of how Trump has used the last three months to reshape everything from global trade and immigration to the American presidency — and what they reveal about the road ahead.
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Top Colleges Are Too Costly — Even for Parents Making $300K
Tuition at US colleges and universities is higher than ever. But an exclusive new Bloomberg analysis reveals that the cost of a four-year degree is particularly burdensome for middle class students and their families.
On today’s Big Take podcast, Bloomberg’s Francesca Maglione and Paulina Cachero join David Gura to break down the real cost of attending the most selective colleges and universities in the US — and how that cost changes depending on how much a family makes.
Read more: Top Colleges Are Too Costly Even for Parents Making $300,000
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The Americans With Disabilities Making Under Minimum Wage
For decades, workers, disability advocates and employers have debated a program called 14(c), a section of employment law that lets companies pay certain employees with disabilities less than the federal minimum wage. Proponents say the program provides opportunities for people who might not find them elsewhere. Critics say it’s exploitative and stigmatizing.
On today’s Big Take podcast, Bloomberg senior reporter Josh Eidelson joins host Sarah Holder to dig into the debate over subminimum wage and the future of the program under President Trump.
Read more: It’s Legal to Pay US Workers With Disabilities as Little as 25¢ an Hour
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How Trump’s Tariffs Are Hitting Global Economic Growth
The International Monetary Fund released a forecast this week projecting that global GDP will grow just 2.8% — down half a percentage point since US President Donald Trump unleashed a raft of tariffs on April 2. Their projection for US GDP growth was particularly grim: Down nearly an entire percentage point from expectations earlier this year.
And they’re not alone. As economists try to measure the potential outcome from the current trade war and the whiplash of on-again-off-again tariffs, Bloomberg Economics landed on similar GDP projections
On today’s episode of the Big Take, host Sarah Holder is joined by Bloomberg’s Enda Curran and Bloomberg Economics Chief Economist Tom Orlik to discuss what these projections can — and can’t — tell us about where the trade war could lead.
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The Chinese Toy Company Defying the Trade War
Chinese toy company Pop Mart is one of the hottest stocks this year thanks to the wild popularity of its Labubu dolls and other blind box toys.
On today’s Big Take Asia podcast, host K. Oanh Ha talks to Bloomberg Opinion’s Shuli Ren about how the company’s business model could help it ride out the trade-war storm.
Read more: China’s ‘Blind Box’ Magic Breeds Millions of Peter Pans
Further listening: How China’s BYD Became King of the Affordable EV
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Can Trump Tell Powell ‘You’re Fired'?
President Trump’s attacks on Federal Reserve Chair Jerome Powell just keep coming.
Today on the Big Take, Bloomberg’s Michael McKee and Saleha Mohsin join Sarah Holder and David Gura to ask: Can the president actually fire Powell? And what impact could his ongoing threats have on the US dollar and global financial markets?
Read more: Markets Are Discovering the Real Trump Trade Is ‘Sell America’
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The Vibes Are Off. But Is It a Recession?
Amid tariff whiplash, renewed inflation concerns and turbulence in financial markets, Americans are left wondering: Do the economic vibes match our economic reality? And are we headed for a recession?
Today on the show, Bloomberg senior markets editor and columnist John Authers joins host David Gura to discuss official and unofficial recession indicators and what the state of the economy tells us about what could be ahead.
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Who Will Blink First in the US-China Trade War?
As the trade war between Donald Trump and Xi Jinping continues to escalate, economists around the world are asking who will blink first.
On today’s Big Take podcast, Bloomberg’s John Liu and Jennifer Welch join host David Gura to discuss what it will take for both presidents to come to the negotiating table, how the current state of China’s economy impacts its positioning in the trade war and why hardball tactics are unlikely to work this time around.
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A Rubber Company Supplying Top Tiremakers Faces Troubling Accusations
For years, a rubber and palm oil company that supplies some of the world’s top tiremakers has been dogged by allegations of sexual coercion at its plantations. Socfin — short for Société Financière des Caoutchoucs — says it has taken steps to improve matters, but an exclusive Bloomberg report shows those claims remain widespread.
On today’s Big Take podcast, host Sarah Holder sits down with Bloomberg’s Sheridan Prasso to discuss her investigation into why the abuse has been so hard to stop — and a new EU law that could give corporations like Socfin a big incentive to reform.
Read more: Sex-for-Work Allegations Hang Over Tycoons' Rubber Plantations
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Inside the Explosive Feud That Rocked Singapore’s Richest Family
For decades, Singapore’s Kwek family, owners of one of the city’s biggest developers, looked to be the model of a successful family-run business. But that image was shattered when the family patriarch filed a lawsuit against his son.
On today's Big Take Asia Podcast, host K. Oanh Ha sits down with Bloomberg’s Sheryl Lee and Dexter Low to examine what happened behind the boardroom doors of City Developments and how investors are navigating its fallout.
Further listening: A New Breed of Scammer Is Targeting Asia's Ultra-Rich
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America Is Pumping The Brakes On EVs. GM Is Doubling Down.
It’s been a tough year for electric vehicles: Since President Trump took office for a second term, the US has started a complete 180 on its investment in EVs. And as Trump’s trade war continues, the industry is bracing for additional tariffs and disruption to supply chains.
But one company is pushing forward: General Motors. On today’s Big Take podcast, Bloomberg Detroit Bureau Chief David Welch and host David Gura examine the road ahead for GM’s big bet on electric, and what it means for future EV buyers.
Read more: GM’s Mary Barra Has to Make a $35 Billion EV Bet Work in Trump’s America
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Forget the S&P or CPI. Meet the Bacon Egg and Cheese Index
When it comes to measuring economic pain, the cost of a humble breakfast sandwich might not be top of mind. But Bloomberg has an index that tracks the rising cost of a bacon, egg and cheese sandwich, plus a cup of coffee. And this year, it’s reached record highs.
On today’s Big Take podcast, we hear from people up and down the BEC supply chain — from a wheat farmer to a coffee roaster to a guy who turned his life-long love of eggs into a career. What does the most important meal of the day tell us about inflation, supply and demand, and the complexities of financial markets? More importantly: how did this sandwich get so expensive?
Follow the BEC Index on the Bloomberg Terminal: {ECAN US BEC<Go>}
Read more: A Classic New York Cheap Breakfast Hits $8 on Steep Eggs Prices
Further listening: Why Eggs Are So Expensive Right Now
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What a Trade War Means for Your Money
It’s been a bewildering time for retail investors trying to make sense of global markets. In the week since President Trump unveiled sweeping tariffs, markets have plunged, rebounded — and now, they’re sliding again. Meanwhile, the trade war between the US and China continues. Both announced severe new tariffs this week.
On today’s Big Take podcast, Bloomberg’s Charlie Wells and host Sarah Holder try to make sense of what all this uncertainty means for your money and dig into what experts recommend doing to protect yourself right now and in the weeks and months ahead.
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What the Heck Just Happened in the Bond Market?
It’s been a rollercoaster of a week for global markets. As President Trump goes back and forth about the size and scope of his tariffs, Bloomberg is watching one market especially closely: bonds. US Treasuries are widely seen as one of the world’s safest assets, especially in periods of financial volatility. But will they hold?
On today’s episode of the Big Take DC, hosts Sarah Holder and Saleha Mohsin sit down with Bloomberg chief correspondent Liz Capo McCormick to unpack a week of sharp selloffs in the bond market, and how the swings could impact mortgage rates and student loans.
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Why Asia Was Hit Hardest by Trump’s Tariff Onslaught
US President Donald Trump shocked the world -- and global markets -- with tariffs that exceeded expectations last week. But there was one region that was hit harder than most: Asia. Exporting powerhouses like China and Vietnam were slapped with some of the highest levies of any country, with China now facing an additional 50% tariff, bringing the total rate of its levies to more than 100%.
On today's Big Take Asia Podcast, host K. Oanh Ha sits down with Bloomberg's John Liu in Beijing and John Boudreau in Ho Chi Minh City to discuss the reactions from Asian economies and how the tariff onslaught may upend the trading world order.
Read more:
Trump’s Tariffs and China Collide to Shock the $115 Trillion Global Economy
Tariffs Rip Through Southeast Asia Stocks, Sink Vietnam’s Market
Further listening:
The Trump Trade War’s First Casualty? The Bull Market
Trump Announces Sweeping New Tariffs. What’s Next
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The Trump Trade War’s First Casualty? The Bull Market
It's been a volatile few days across global markets.
As the equity sell-off has deepened, a growing number of market strategists have revised down their targets for where the S&P 500 will be at the end of the year, and economists at several big banks have updated their forecasts. Today on the Big Take podcast, unpacking the seismic effect US President Trump’s tariffs announcement is having on markets. Bloomberg Opinion’s John Authers joins host David Gura to contextualize the market moves — and explain what’s likely to happen next.
Read more from John Authers here.
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DNA and Bankruptcy Collide With 23andMe
The genetic testing company 23andMe filed for bankruptcy in March, after years of slowing sales, legal trouble, and a declining stock price. And now, the valuable trove of genetic data the company owns is for sale, sparking privacy concerns.
On today’s Big Take, Bloomberg biotech reporter Gerry Smith traces the rise and fall of 23andMe, and bankruptcy reporter Jonathan Randles outlines what a possible sale could mean for millions of users’ genetic data.
Read more: Bankrupt 23andMe’s DNA Data Gets Sale Nod as Concerns Linger
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Trump Announces Sweeping New Tariffs. What’s Next
Trump announced the steepest American tariffs in more than a century, with a 10% tariff on all exporters to the US and even higher duties on some 60 nations. China now faces a tariff well above 50% on many goods.
On today’s Big Take, Bloomberg reporter Josh Wingrove joins host David Gura to discuss Trump’s “huge” announcement, and how it will reshape global trade.
Read more: Trump Tariffs Everyone, With Rate on China Set to Soar Above 50%
Further listening: The World Is Paying for Trump’s China Tariffs
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As India’s Stock Market Surged, So Did Investment Scams
India’s historic stock market surge sparked a retail-investing frenzy that minted millionaires. But the boom also became a breeding ground for financial scams.
On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Alex Gabriel Simon about the retail investors that have been cheated out of their life savings, and how this influx of scams could undermine Prime Minister Narendra Modi’s efforts to promote his nation’s stock market to global money managers.
Read more: Scamsters Trick India's Retail Investors Out of Millions in Life Savings
Further listening: Inside Southeast Asia’s Most Notorious Crime Hub
Watch, from Originals: Is India's Stock Market a Bubble About to Burst?
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Princeton’s President Responds to Attacks on Higher Education
The Trump administration is targeting higher education. Colleges and universities across the United States are faced with the threat of funding freezes over their handling of free speech, anti-semitism and transgender issues, among other topics, on campus.
Princeton University President Christopher Eisgruber joins host David Gura to discuss the newly announced freeze on some federal grants, the role of academic research, Princeton’s commitment to free speech and more.
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What We Know About Trump’s Planned Tariffs
President Donald Trump is calling April 2nd “Liberation Day” — that’s when the president says the world can expect the biggest salvo in his widening trade war. While the specifics are not yet clear, the symbolism is: Trump wants to usher in an era of American protectionist policy that could re-order global trade.
Today on the show, Bloomberg’s Shawn Donnan joins host David Gura to discuss what we know about these new tariffs and the lessons from similarly broad tariffs in 1930. Plus, a new Bloomberg analysis of the economic impact the tariffs could have on the US economy.
Read more: Trump's Tariffs Set to Make History and Break a System MAGA Loathes
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Levittown Episode 6: Warp Speed
In the series finale, our reporters try to crack the secretive companies behind nudify apps that let users create deepfakes in minutes. And a new case rocks another small town high school.
Levittown is a real-life horror story for the AI generation. In this six-part series from Bloomberg, Kaleidoscope and iHeart Podcasts, reporters Olivia Carville and Margi Murphy take listeners from quiet suburbs of New York to as far as New Zealand and into the darkest corners of the Internet. Where tech moves faster than the law, and it’s up to everyday people to hold back a rising tide of explicit deepfakes.
For official transcripts and additional information on this series, go to bloomberg.com/levittown
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Levittown Episode 5: The Vigilantes
Kayla faces down her harasser in court. In New Zealand, an investigator summons a global army of hackers.
Levittown is a real-life horror story for the AI generation. In this six-part series from Bloomberg, Kaleidoscope and iHeart Podcasts, reporters Olivia Carville and Margi Murphy take listeners from quiet suburbs of New York to as far as New Zealand and into the darkest corners of the Internet. Where tech moves faster than the law, and it’s up to everyday people to hold back a rising tide of explicit deepfakes.
For official transcripts and additional information on this series, go to bloomberg.com/levittown
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Levittown Episode 4: 'How Is That Not Illegal'
An arrest in Levittown kicks off the next phase of an investigation. The central question for the prosecutors is: Is any of this a crime? And they’re on the clock.
Levittown is a real-life horror story for the AI generation. In this six-part series from Bloomberg, Kaleidoscope and iHeart Podcasts, reporters Olivia Carville and Margi Murphy take listeners from quiet suburbs of New York to as far as New Zealand and into the darkest corners of the Internet. Where tech moves faster than the law, and it’s up to everyday people to hold back a rising tide of explicit deepfakes.
For official transcripts and additional information on this series, go to bloomberg.com/levittown
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They Bought Dream Homes in Tulum. Then Came the Nightmare
Tulum, Mexico has exploded in popularity since the early years of the pandemic. The area’s few Covid restrictions, picturesque beaches and laidback vibes attracted lockdown-weary travelers and helped trigger a real estate boom.
On today’s Big Take podcast, Bloomberg reporters Andrea Navarro and Tanaz Meghjani join host Sarah Holder to discuss the dark side of a pandemic-era development spree in Tulum that has left a trail of ripped off investors, millions of dollars in missing cash and even two bodies in its wake.
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Elizabeth Warren Wants Democrats to Fight
Senator Elizabeth Warren has been shaping US policy for years. She helped create the Consumer Financial Protection Bureau after the 2008 financial crisis, has been a senator since 2013 and ran for president in 2020. Today, she’s a key voice in the Democratic Party’s opposition to President Trump's agenda and the priorities of a Republican-controlled Congress.
Ahead of Thursday’s confirmation hearing of Trump’s Securities and Exchange Commission Chair nominee, Paul Atkins, Big Take host David Gura sat down with Warren for a wide-ranging interview on regulatory independence, the future of the Democratic Party and the Signal group chat leak.
Read more: Elizabeth Warren Warns Fed Chair Powell Could Be Fired by Trump
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Private Equity’s New Pitch: Investing Your 401(k)
Private equity is looking for new ways to raise capital. The industry has its eye on a $12 trillion piece of America’s retirement market.
On today’s Big Take podcast, private equity reporter Allison McNeely joins host Sarah Holder to explain why PE firms are targeting 401(k)s now and what this could mean for the average American’s retirement savings.
Read more: Private Equity Is Coming for America’s $12 Trillion in Retirement Savings
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Googling in the ChatGPT Era
Search is the most lucrative part of Google’s business. So when ChatGPT launched in 2022 and offered to answer users’ every question, it posed an existential threat to the company, forcing Google to respond. Google had to figure out how to compete. But integrating generative AI into Google search would fundamentally change the company’s core product, and it introduced big risks.
Bloomberg reporters Davey Alba and Julia Love spoke to Google executives and former employees to get a look inside Google's plans to transform search with AI.
Read more: Google Is Searching for an Answer to ChatGPT
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Levittown Episode 3: The Hunter
It’s not just Levittown. The website hosting the doctored photos is the nexus of campaigns to harass women across the world. A victim in New Zealand helps to spark a global battle against the site and its elusive owner.
Levittown is a real-life horror story for the AI generation. In this six-part series from Bloomberg, Kaleidoscope and iHeart Podcasts, reporters Olivia Carville and Margi Murphy take listeners from quiet suburbs of New York to as far as New Zealand and into the darkest corners of the Internet. Where tech moves faster than the law, and it’s up to everyday people to hold back a rising tide of explicit deepfakes.
For official transcripts and additional information on this series, go to bloomberg.com/levittown
See omnystudio.com/listener for privacy information.
Levittown Episode 2: ‘I’m Also on the Website’
Months after Kayla’s discovery, dozens of women in Levittown, a New York suburb on Long Island, learn they, too, are subjects of faked porn. Most are recent graduates of the local high school, and they zero in on a culprit. One of them sets out to prove it.
Levittown is a real-life horror story for the AI generation. In this six-part series from Bloomberg, Kaleidoscope and iHeart Podcasts, reporters Olivia Carville and Margi Murphy take listeners from quiet suburbs of New York to as far as New Zealand and into the darkest corners of the Internet. Where tech moves faster than the law, and it’s up to everyday people to hold back a rising tide of explicit deepfakes.
For official transcripts and additional information on this series, go to bloomberg.com/levittown
See omnystudio.com/listener for privacy information.
Levittown Episode 1: Me... But Not Me
SHOW DESCRIPTION
New Year’s Eve. Levittown, New York. Word travels swiftly as one young woman tells the next: “You’re on the website.” Dozens of recent high-school graduates are finding out that their photos have been scraped from their social media accounts, manipulated and posted to a porn website.
Who would have done this? And can the women get the images taken down? Told there isn’t much the police or anyone else can do, they set out to catch whoever did this.
Along the way, they get some help from a global band of investigators and hackers who could take risks that police and prosecutors sometimes couldn't.
Levittown is a real-life horror story for the AI generation. In this six-part series from Bloomberg, Kaleidoscope and iHeart Podcasts, reporters Olivia Carville and Margi Murphy take listeners from quiet suburbs of New York to as far as New Zealand and into the darkest corners of the Internet. Where tech moves faster than the law, and it’s up to everyday people to hold back a rising tide of explicit deepfakes.
EPISODE 1: Me… But Not Me
Stuck in her childhood home during the pandemic, Kayla is shocked to learn that photos of her, altered to make her look naked, are posted to a website where men swap violent fantasies about women. A conversation with police leaves Kayla discouraged.
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Another Space-Obsessed Billionaire Has Entered the Chat
The International Space Station’s time in the stars will soon come to an end. NASA has said that the ISS is scheduled to be decommissioned in 2030 and replaced with a new station made by a private company. Now, the race is on to win the contract.
On today’s Big Take podcast, Bloomberg’s Kiel Porter and Loren Grush tell host Sarah Holder why a former crypto tycoon has made a billion-dollar bet that his startup, Vast, will build the next international space station — and what this space race tells us about the future of the commercial space industry.
Read More: One Man’s Crypto Windfall Is Funding a $1 Billion Space Station Dream
Listen More: What NASA’s Reliance on SpaceX Means for Boeing
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The World Is Paying for Trump’s China Tariffs
Trump's tariffs on China are causing a lot of pain around the world. Products that would've gone to the US are now pouring into other countries, leading to factory closures and layoffs. And this is likely to increase after April 2, when President Trump has promised to put in place a new set of tariffs.
On today’s episode of the Big Take, Katia Dmitrieva joins host David Gura to talk about the collateral damage from Trump’s trade war with China.
Read more: A New ‘China Shock’ Is Destroying Jobs Around the World
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Decoding the Fed With Randy Quarles
It’s a busy week for the Federal Reserve, between Trump’s nomination of a new vice chair for supervision on Monday and an anticipated rate decision on Wednesday.
To unpack all the news, host Saleha Mohsin sits down with former Fed and Treasury official Randy Quarles to talk about regulation, DOGE and Trump’s approach to the Fed.
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How Wall Street Thinks About Crypto’s Future
Crypto optimism soared after President Trump’s re-election and Bitcoin hit an all-time high the day of his inauguration. But it's been on something of a roller coaster since then. And the broader finance industry is watching all of this very closely.
Bloomberg’s Katherine Doherty hit the road for a conference in South Florida, where members of the financial old guard are embracing digital assets anew, and are considering giving their core products a crypto update. She joins host David Gura to share a vibe check on all things crypto.
Read more: Wall Street Goes All In on Great Crypto Comeback Fueled by Trump
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Can Nvidia Stay on Top?
CEO Jensen Huang has always said Nvidia is “thirty days from going out of business.” Even though Nvidia is now worth trillions, Huang is focused on future-proofing the business to outlast the current AI boom — and possibly even create the next one.
Businessweek tech editor Joshua Brustein joins host David Gura to discuss the innovations the company is pursuing, its constant search for new markets and the threats to its dominance.
Read more: Nvidia Looks Past DeepSeek and Tariffs for AI’s Next Chapter
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Trump's Trade War Comes for Metals
After weeks of uncertainty that ricocheted through markets, President Trump’s 25% tariffs on steel and aluminum imports from every country in the world went into effect on Wednesday morning.
Immediately after, Canada and the EU retaliated. Now, investors, automakers and American consumers are wondering how it will hit the economy.
On today’s Big Take DC podcast, host Saleha Mohsin is joined by Bloomberg’s Josh Wingrove to explore what Trump’s metals tariffs could mean for domestic manufacturing and for America’s relationships with some of its closest allies.
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Investors Eye a Return to Russia
As Trump signals a warmer relationship with Putin and a peace deal between Russia and Ukraine comes into focus, optimistic investors and businesses are eyeing potential opportunities in a re-opened Russian economy. But investing in Russia is still a risky bet.
On today’s episode of the Big Take, host Sarah Holder talks to Bloomberg’s Anthony Halpin about why some investors are enthusiastic about Russia’s possible return to global financial markets.
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China’s Power Play In the Indian Ocean
Mauritius and neighboring islands in the Indian Ocean are at the center of a great-power chess match involving the US, China and India. All want to use them as bases to protect shipping lanes and project military might in the region.
On today’s Big Take Asia Podcast, host K. Oanh Ha is joined by Bloomberg correspondent Peter Martin to discuss the power struggle, and the implications of China’s growing clout in the region.
Further listening: The Shadowy Fleet of Tankers Moving Iranian Oil to China
Watch, from Originals: China’s Power Play In the Indian Ocean
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A Trump Slump? How to Navigate Choppy Markets
It has been a wild few weeks in markets.
By last week, the S&P 500 had wiped out all its gains since Election Day – $3.4 trillion in value. When Trump was asked about the possibility of a recession over the weekend, he said the US was in a “period of transition.”
Then on Monday, the Nasdaq 100 saw its worst day since 2022, tumbling 3.8% and extending a selloff that has put it into correction territory.
On today’s Big Take podcast, Bloomberg’s Charlie Wells and host Sarah Holder discuss whether the Trump bump has become the Trump slump — and what this moment of market volatility means for your money.
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Xi’s Big Challenge Is Getting People to Spend, Spend, Spend
A crippling property crisis, mounting debt, weak consumer spending… and now a trade war. Despite the headwinds, China has set an ambitious economic growth goal of about 5% this year.
On today’s Big Take Asia podcast, host K. Oanh Ha speaks to Bloomberg’s John Liu about how Xi Jinping intends to meet the target, and how Trump’s tariff war might sabotage his plans.
Read more: Trump’s Tariffs Push Xi to Overhaul China’s Ailing Growth Model
Further listening:
China’s New Game Plan For Dealing With Trump Tariffs
Xi Has Embraced China’s Tech Titans Once Again. Will It Last?
Watch, from Originals: Can China Avoid Japan’s Lost Decades?
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A Warming Planet vs. Trump
Since taking office in January, President Trump has set in motion a series of sweeping rollbacks on US climate policy. This comes at a time when governments around the world have lagged behind their stated environmental goals.
On today’s episode of the Big Take, host Sarah Holder is joined by Akshat Rathi, host of the Zero podcast, to talk through the Trump administration’s key climate actions, how they could impact investment in green energy, and what it all means for the global fight to stop the warming of the planet.
Read more: Trump's Climate Pullback Endangers Crucial Funds for Poor Nations
Further listening: Global Leaders Wrestle With Costs of Climate Change in the Wake of the US Election
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What Trump’s Address Reveals About the Path Ahead
On Tuesday night, President Donald Trump appeared before a joint session of Congress for the first time since the start of his second term. It was his fifth such appearance, and he celebrated what he saw as early wins in his first 43 days back in office — and spoke about what’s next on his agenda.
Bloomberg Businessweek national correspondent Josh Green and Big Take DC host Saleha Mohsin explore what the speech reveals about Trump’s vision for trade, the US economy and America’s role in geopolitics.
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Why Harvard Law Is Losing Black Students
The data is in: The number of Black first-year students at Harvard Law fell dramatically after the Supreme Court’s decision to ban the consideration of race in admissions.
On today’s Big Take podcast, Bloomberg higher education reporter Janet Lorin shares what she’s learned about how Harvard has changed its application process and what the institution has historically meant for generations of Black leaders. Plus, we hear from a Harvard Law student who’s involved in efforts to recruit more Black students.
Read more: Harvard Law’s Fast Track to the American Elite Is Losing Black Students
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How Facebook, Tinder and Airbnb Are Being Used for Sex Trafficking in Colombia
In January 2024, the US Embassy issued a warning to all American travelers: Be careful using dating apps in Colombia. Eight men had been killed in two months — several of them after traveling to Medellin and using apps to connect with women online.
Bloomberg’s Natalie Lung and Antonia Mufarech investigated and found an even darker situation. On today’s Big Take podcast, they join host Sarah Holder to explain how apps from US-based tech companies are being used for sex trafficking and child exploitation in Colombia — and why it’s so hard for the companies to keep criminals off their platforms.
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What’s Behind All of the US Air Travel Accidents?
Over the last few months, a spate of high-profile air travel incidents in North America have captured public attention. And it’s raised concerns about whether air travel is as safe as it used to be.
On today’s Big Take podcast, Bloomberg’s global aviation editor Benedikt Kammel joins host David Gura to discuss how recent accidents — especially the fatal collision between American Airlines Flight 5342 and a military helicopter and, weeks later, the crash landing of Delta Flight 4819 — have undermined public trust in flying. And they examine what’s going on inside the FAA in the midst of mass government lay-offs.
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When a Small Town Gets a Big Data Center
The Hopeful Primitive Baptist Church in Fayetteville, Georgia, has been standing for two hundred years. Now, with a huge, private equity-backed data center coming to town, it will soon be surrounded by towering power poles — and power lines will run through the yards of more than a hundred homes and private properties.
Today on the show, energy reporter Josh Saul reports on the AI boom, the demand it’s creating for data centers, and what it looks like on the ground in the communities where those are being built. Plus, the pastor from Hopeful Primitive Baptist talks about the community’s response.
Read more: Blackstone’s Data-Center Ambitions School a City on AI Power Strains
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Xi Has Embraced China’s Tech Titans Once Again. Will It Last?
Four years after launching a regulatory crackdown that plunged the tech sector into turmoil, China’s President Xi Jinping sat down publicly with Alibaba Group’s co-founder Jack Ma, whose firm bore the brunt of that campaign, and a number of other tech titans.
On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Lucille Liu and Opinion columnist Catherine Thorbecke about Xi’s shifting stance and where the tech industry goes from here.
Read more: Xi’s Embrace of China Tech CEOs Spurs Hope of Big Economic Shift - Bloomberg
Further listening: China’s New Game Plan For Dealing with Trump Tariffs
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The $500 Billion Medicare Overpayment Claim
More than half of Americans enrolled in Medicare receive their coverage from a private insurer through a program called Medicare Advantage. But according to whistleblowers, some of those companies may be overcharging the government and getting billions of taxpayer dollars in the process. Several Justice Department investigations have followed those claims.
On today’s Big Take podcast, we hear from one of those whistleblowers and Bloomberg health-care reporter John Tozzi about how Medicare Advantage took off and the questions these fraud allegations raise about how taxpayer dollars are spent.
Read more:
- Major Insurers Are Scamming Billions from Medicare, Whistle-Blowers Say
- Medicare Advantage Fraud Case Settled for Up to $100 Million
- UnitedHealth Falls on DOJ Probe Into Medicare Billing
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Inside Walmart’s Next Chapter With CEO Doug McMillon
Doug McMillon has been running Walmart since 2014. He’s credited with pushing the company into the digital age and successfully steering it through the COVID-19 pandemic. Now, he’s turning his attention to the company's next chapter and new challenges ahead.
On today’s Big Take podcast, Bloomberg reporters Jaewon Kang and Devin Leonard travel to Bentonville, Arkansas, to interview McMillon about navigating a second Trump presidency, appealing to higher-end shoppers and the company’s ambition to go after Amazon’s e-commerce crown.
Read more:
- Walmart Wants to Be Something for Everyone in a Divided America
- Inside Walmart’s Corporate Culture Clash Over E-Commerce
- How Walmart Keeps an Eye on Its Massive Workforce
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Why Eggs Are So Expensive Right Now
The price of eggs was up 15% in January, driving overall inflation higher. The cause? Bird flu.
We’re joined by farmer Jim Hayes, as well as the hosts of Bloomberg’s Odd Lots podcast, Joe Weisenthal and Tracy Alloway, to talk about how bird flu threatens the chicken supply chain and public health — and what, if anything, can be done to lower egg prices.
Listen to Beak Capitalism from Odd Lots.
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How Trump Is Turning to Russia to End the War in Ukraine
Monday marks the three year anniversary of Russia’s full-scale invasion of Ukraine. And over the last few days, Trump has revealed his approach to ending the conflict. It would reverse years of US foreign policy in the region and has, so far, left Ukraine out of direct conversations with Russia.
On today’s Big Take DC podcast, Bloomberg reporter Iain Marlow takes us inside the historic US-Russia talks in Saudi Arabia and explains what Trump’s pivot in policy and alliances could mean for America’s role on the global stage.
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Undocumented Workers Helped Build Elon Musk’s Tesla Gigafactory
Over the last four-and-a-half years, the footprint of Elon Musk’s Texas business empire has undergone rapid expansion. It now includes SpaceX facilities and a sprawling Tesla gigafactory outside the state capital.
New Bloomberg reporting shows that undocumented workers helped to build some facilities — even as Musk ratcheted up his anti-immigration rhetoric and advocated for a border crackdown.
On today’s Big Take podcast, Bloomberg’s Julia Love investigated how undocumented workers ended up at these sites — and the conditions they encountered — and joined host Sarah Holder to share what she found.
Read more: The Undocumented Workers Who Helped Build Elon Musk’s Texas Gigafactory
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How Amazon Rival Temu Got Sucked Into Trump’s Trade War
Since its US launch in 2022, Chinese marketplace Temu has rapidly risen to become America’s biggest e-commerce platform after Amazon, thanks to ultra-low prices on almost every product imaginable.
On today’s Big Take Asia Podcast, host K. Oanh Ha speaks to Bloomberg’s Spencer Soper and Rachel Chang about Donald Trump’s order to close a tariff loophole and what it means for American shoppers and the giants supplying them with goods direct from China.
Further listening: The Tariff Wars Are Here — And They’re Messy
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How a Libertarian Island Experiment Became an $11 Billion Nightmare
Prospera is a city-state operated by a private company on the Honduran island of Roatan. It offers businesses single-digit tax rates and the ability to choose their own regulations. Its proponents have touted it as a poverty relief initiative for the country and as the most ambitious experiment in self-governance ever undertaken.
But that dream is now facing an existential crisis. A little more than a decade after Honduras changed its constitution to allow for places like Prospera, a new political party is in charge — and they’re looking to shut the whole thing down.
On today’s Big Take podcast, Bloomberg Industry Group’s Umar Farooq and Bloomberg’s Michael McDonald join host Sarah Holder to break down the $11 billion battle over the fate of a special economic zone in the Caribbean.
Read more: A Libertarian Island Dream in Honduras Is Now an $11 Billion Nightmare
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It’s Not You. There’s a Dating Recession Happening Right Now
This Valentine’s Day, as many as 13 million more Americans are single than before the pandemic.
On today’s Big Take podcast, Bloomberg reporter Ben Steverman shares what he’s learned about the cause of this love slump and how it’s taking a toll on Americans’ hearts and on the US economy. And host Sarah Holder meets a group of singles taking matters into their own hands.
Read more: The Covid Pandemic Left an Extra 13 Million Americans Single
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The Battle Over USAID Is Heating Up
President Trump’s attacks on a key international aid agency, USAID, has left its work frozen and kicked off a fierce legal battle between his administration and US courts over its future.
On today’s Big Take DC podcast, we hear from Bloomberg’s Simon Marks and health care workers on the ground in Nairobi about how the fight playing out more than 7,000 miles away is affecting HIV treatment there. And national security editor Nick Wadhams explains why Trump has taken aim at USAID and what a gutting of the agency could mean for US soft power.
Read more:
- USAID Cuts in Kenya Reveal Risks to Lives and American Influence Worldwide
- After DOGE's Chaotic USAID Shutdown: Wasted Supplies, Layoffs and Lawsuits
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How Intel Lost Its Edge
Intel invented computer processors and was a dominant supplier of chips for decades. Now AI is fuelling record demand for next-generation chips. But Bloomberg’s Ian King says Intel is no longer the go-to partner for the global tech industry, and the company is at risk of disappearing. What went wrong?
Today on the show: The rise and fall of Intel, and where it could go from here.
Read Ian King’s coverage of Intel.
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China’s New Game Plan for Dealing With Trump Tariffs
As US President Donald Trump imposes new tariffs on China, Xi Jinping's government has had a far more muted response than it did during the trade war in Trump’s first term.
On today’s Big Take Asia Podcast, host K. Oanh Ha is joined by Bloomberg editor Jenni Marsh and Bloomberg Opinion columnist Shuli Ren to unpack China’s response to Trump’s barrage of tariffs and discuss what’s at risk for both countries if they find themselves in another trade war.
Read more: China’s Mr. Big Won’t Cave In to Trump for Nothing
Further listening: The Tariff Wars Are Here — And They’re Messy
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For European Start-Ups, Valuation Depends On Location, Location, Location
Financial markets in Europe have long been fragmented and constrained, driving home-grown startups to list and raise capital in the US. Now, Europe is trying to reverse the trend. Can it hold onto innovative firms — and talent?
Today on the show, host Sarah Holder talks to Bloomberg’s Sagarika Jaisinghani about why location matters so much for startups and what Europe’s challenges mean for the region’s economic outlook.
Read more: Broken Markets Hold Back Europe as Trump Amps Up the Pressure
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How Much Is a Wall Street Bonus Really Worth?
It’s bonus season on Wall Street. But if you work for a bank, you know that the number you’re quoted is almost never the number you get when it comes time for that bonus to pay out.
On today’s Big Take podcast, global finance reporter Laura Noonan shares what she learned by crunching the numbers on which banks deliver more or less than they promised.
Read more: How Much Your Wall Street Bonus Is Really Worth
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Treasury Secretary Scott Bessent on DOGE, Taxes and the Fed
Nine days after his swearing in, Scott Bessent sat down with Big Take DC host Saleha Mohsin at the US Treasury Department.
They discussed topics in his purview dominating the headlines — Elon Musk’s DOGE efforts, tariffs — and his plans for taxes, trade, the Fed and more.
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What Economists Talk About When They Talk About AI
Silicon Valley tech leaders have been brimming with optimism in recent years about the future of artificial intelligence — and investors have bet big on the transformational power of the technology.
Then last week, China’s DeepSeek emerged as a disruptive force and the value of Nvidia Corp. fell by half a trillion dollars. More than ever, investors are wondering about whether big bets on AI will pay off in the long run.
Bloomberg Economics Chief Economist Tom Orlik sees three cases for how AI could reshape the global economy, ranging from the rosy to the dystopian. On today’s Big Take podcast, he and host David Gura break them down and explore what that future may hold not just for companies and investors — but for us all.
Read more: AI Has Rocked the Stock Market, But What Will It Do for the Economy?
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Trump Is Trying to Take Control of Spending From Congress. Will It Work?
Trump says the president should be able to decide how to spend taxpayer money – not Congress. Part of his plan? Impoundment: A controversial maneuver that could wrest control of trillions of dollars in federal spending away from Congress.
Bloomberg politics reporter Gregory Korte joins Big Take DC host Saleha Mohsin to explain what impoundment is, the pushback against Trump’s efforts and how the battle over its legality could play out.
Is there an idea in the news that you want explained? Email us at bigtake@bloomberg.net.
Read more: Trump Vows to ‘Impound’ Money Congress Appropriates. Can He Do It?
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The Tariff Wars Are Here — And They’re Messy
Is it a trade war or is it whiplash?
On Saturday, President Trump announced new 25% tariffs on imports from Canada and Mexico, and an additional 10% tariff on Chinese goods. On Sunday, he said tariffs were coming for the European Union, too.
The tariffs were initially supposed to take effect at 12:01 am Tuesday morning eastern time, but since that weekend announcement, the tariffs on Mexican and Canadian goods have been delayed for one month. Meanwhile, the tariffs on Chinese goods are proceeding as scheduled.
On today’s Big Take podcast, Bloomberg’s global economy reporter Enda Curran and host Sarah Holder make sense of the news — and discuss how this could disrupt the US economy and reshape global commerce.
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What's Behind Gold's Record Rally
Shuibei, in southern China, is home to one of the world's biggest retail markets for gold. Over the past year, it's seen a boom in demand for the jewelry, sold by thousands of stallholders, as the Chinese property crisis and slowing economy spurred a flight into gold. So much so that Chinese consumers helped propel the global gold price to record highs in 2024.
On today's Big Take Asia podcast, K. Oanh Ha talks to Bloomberg's Chongjing Li about the enduring appeal of the precious metal in China, and what lies ahead.
Read more: The Epicenter of China’s Gold Craze Is a Former Fishing Village
Watch, from Bloomberg Originals: What Gold’s Crazy Run Says About China
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A Uranium Mine, the Navajo Nation and a Six-Month Standoff
On Wednesday, the Navajo Nation and the mining company, Energy Fuels Inc., announced a new agreement detailing how uranium could be transported through tribal lands.
The agreement ends a stalemate between the two parties. And it comes at a time when interest in nuclear energy — and the cost of the uranium that fuels it — is surging.
On today’s Big Take podcast, Bloomberg’s Jacob Lorinc joins host Sarah Holder to break down the painful history of uranium mining in the Navajo Nation and what the dispute reveals about the human costs of “clean power.”
Read more: Uranium Fever Collides With Industry's Dark Past in Navajo Country
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How Trump and Musk Are Testing Boeing’s Path to Recovery
It’s been a tough stretch for Boeing. Its new CEO Kelly Ortberg is trying to rebuild public trust and turn the company’s finances around, all while navigating pressure from President Trump to deliver new Air Force One jets and working with the founder of one of Boeing’s chief rivals, Elon Musk.
On today’s Big Take podcast, Bloomberg senior aerospace reporter Julie Johnsson joins host David Gura to explain the turbulent road ahead for the US planemaker.
Read More: Elon Musk’s Air Force One Scrutiny Tests Boeing’s Path to Recovery
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Tariffs Could Hit Canada Soon. Its Ex-Finance Minister Wants to Hit Back
Chrystia Freeland sent shockwaves through Canada when she resigned as Prime Minister Justin Trudeau’s Finance Minister in December. Her public resignation letter blasted Trudeau for not doing enough to prepare for the second Trump administration. Now, she’s running to replace him.
Freeland sat down with Big Take host David Gura in Toronto on Tuesday to discuss her views on US-Canada trade, and how she says she would negotiate with Trump if she becomes Canada’s next leader.
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The DeepSeek Freak Out
The AI chatbot from DeepSeek, a Chinese company, rocketed to the top of US app stores over the weekend — and sent US tech shares plummeting Monday morning. The US has been trying to choke off China’s access to cutting-edge AI chips, but DeepSeek claims it’s still managed to develop tech that rivals ChatGPT and its competitors at a fraction of the cost.
Today on the show, Bloomberg’s Jackie Davalos on what DeepSeek’s models can do, why they’ve sent tech stocks tumbling — and what kind of pressure they could put on the US AI industry.
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Influencers Fueled Zyn’s Rise. Could the Attention Backfire?
Zyn nicotine pouches hit the market as a run-of-the-mill tobacco-replacement product, but over the past few years, they’ve gone viral thanks to so-called “Zynfluencers”: content creators who post about Zyn. They’re not paid by Zyn’s parent company Philip Morris, and while the online hype has likely helped sales, it also presents risks for the tobacco giant.
Today on the show, Bloomberg Businessweek writer Ellen Huet joins host Sarah Holder to discuss what could become an existential question: Can the company ride the Zynfluencer wave without getting in trouble if kids get hooked?
Read more: Zyn’s Online Hype Risks Leading to the Nicotine Pouches’ Downfall
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Is Work From Home Officially Over?
As President Trump and JPMorgan CEO Jamie Dimon require workers to come back to the office full-time, the costs and benefits of remote versus in-office work are still up for debate. Bloomberg’s work and management editor Heather Landy says many CEOs are at odds with their employees and what they want.
On today’s Big Take podcast, Landy joins host David Gura to explain what’s behind the return-to-office trend and how US workers feel about it.
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The Most Influential Person in Davos Isn’t There
With Donald Trump back in the White House, global business leaders attending the World Economic Forum’s annual meeting in Davos, Switzerland this week seem to be falling into line with the US president’s “America First” agenda.
Today on the show, host David Gura talks to Bloomberg’s Ted Mann about Trump’s influence over Davos, and the CEOs who missed the opening of the conference — including Elon Musk, Jeff Bezos and Mark Zuckerberg — but had front-row seats at his inauguration.
Read more: ‘Which Time Were You Lying?’: The Great CEO Flip-Flop Over Trump Hits Davos
Further listening: Davos Is Learning the ‘Art of the Deal’ With Trump
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Americans Flocked to RedNote as the TikTok Ban Loomed. Will the Party Last?
The US ban on TikTok saw millions of users – predominantly Americans – flock to another Chinese social media platform: Xiaohongshu, also known as RedNote. So far, the vibe between Chinese and American users has been convivial.
But can the good times last? On today’s Big Take Asia Podcast, host K. Oanh Ha is joined by a TikTok user from Mississippi who recently joined RedNote and by Bloomberg reporter Gao Yuan to discuss what this sudden influx means for the app, its users and China’s censorship machine.
Read more: TikTok Refugees in US Test Xi’s Firewall While Embracing Chinese
Further listening: Inside Microsoft’s Censorship of Bing in China
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The Second Trump Era Begins
On Monday at the US Capitol, Donald Trump was sworn in as the 47th American President. He then took to the podium to make his inaugural address and, shortly after, gave a rally-style speech for his supporters.
Today on the show, Washington, DC bureau chief Peggy Collins joins host Sarah Holder to discuss what Trump’s first remarks say about his priorities for the next four years.
Read more: Trump Inaugural Speech Vows ‘Golden Age’ to Reverse US Decline
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Antony Blinken: The Exit Interview
In his final month as the United States’ chief diplomat, Secretary of State Antony Blinken raced around the globe, responding to conflicts in the Middle East and the latest developments in the war in Ukraine.
During a stop in New York, he sat down with host David Gura to talk about how he is preparing to hand over the country’s sprawling foreign policy portfolio to the incoming Trump administration.
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Janet Yellen: The Exit Interview
Treasury Secretary Janet Yellen has been a fixture in the economic policy world for decades. She was President Clinton’s chief economic adviser, a Federal Reserve governor and served as Fed Chair under President Obama.
As her tenure at Treasury comes to an end, Yellen sits down with host David Gura to discuss the possibility of additional sanctions on Russian oil and communication between the US and China, and she reflects on her long career as a pioneering economic policymaker.
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Gary Gensler: The Exit Interview
Gary Gensler’s tenure as Wall Street’s top regulator is coming to an end, and the US Securities and Exchange Commission chair is reflecting on his time at the agency.
In an interview with host David Gura, Gensler responds to his critics, discusses his concerns about AI, China and crypto — and shares the advice he gave President-elect Trump’s pick to replace him.
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What Higher Bond Yields Mean for Markets and Everyday Borrowers
The relentless rise in government bond yields has Wall Street worried. Higher treasury yields can impact borrowing costs on everything from mortgage rates to auto loans.
Today on the show, host David Gura talks to Bloomberg’s Liz McCormick about why bond yields have been climbing, and what the consequences could be for consumers, markets and the economy.
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How Scott Bessent Made His Way Into Trump’s Inner Circle
Scott Bessent is President-Elect Trump’s pick to be the treasury secretary, a role that spans oversight of the $28 trillion market for US government debt to economic sanctions.
Today on the show, Big Take DC’s Saleha Mohsin joins host David Gura to discuss the tightrope act that landed Bessent the nomination: winning over both MAGA and Wall Street.
Read more: How Scott Bessent Won Over MAGA and Wall Street
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The Israel-Hamas Ceasefire Deal and What Comes Next
After 15 months of a grueling war that has claimed tens of thousands of lives, Israel and Hamas agreed to phase one of a ceasefire deal on Wednesday. The agreement will create a pause in fighting that will allow critical aid to reach Gaza, and begin an exchange of hostages held in Gaza and Palestinian prisoners held by Israel.
But the next phases of negotiations are expected to be more complicated — and it’s unclear if this pause in fighting will hold.
On today’s Big Take podcast, Israel bureau chief Ethan Bronner and Fares Alghoul, who covers Gaza, join host Sarah Holder to discuss the details of the ceasefire deal, how it finally came together, and what lies ahead for Israel, Gaza and the region.
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South Korea Has Plenty of Botox But Not Enough Doctors
A record 600,000 people traveled to South Korea for medical procedures in 2023, with roughly half of those visiting dermatology and plastic surgery clinics.
On today's Big Take Asia Podcast, host Rebecca Choong Wilkins talks to Bloomberg's Oanh Ha about the rise of the medical tourism industry, and how it’s colliding with a shrinking supply of doctors and a struggling medical system.
Further listening: Netflix’s Big Bet On ‘Squid Game’
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Time Runs Short on TikTok in the US
The US Supreme Court is set to rule on TikTok’s fate this week.
The social media platform is in court challenging a law that would force its Chinese parent company ByteDance into a sale or face a US TikTok ban. After hearing oral arguments for and against the ban, the Supreme Court appears poised to uphold it. It would go into effect on Sunday.
But incoming President Donald Trump will be sworn in the following day, and could scramble whatever decision is reached this week.
Legal editor Sara Forden joins Big Take host Sarah Holder to discuss the case and what a ban would mean for TikTok users, competitor tech platforms and US-China relations.
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Gary Gensler: The Exit Interview
Gary Gensler’s tenure as Wall Street’s top regulator is coming to an end, and the US Securities and Exchange Commission chair is reflecting on his time at the agency.
In an interview with host David Gura, Gensler responds to his critics, discusses his concerns about AI, China and crypto — and shares the advice he gave President-elect Trump’s pick to replace him.
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A Wildfire Disaster and an Insurance Crisis Collide in Los Angeles
Deadly wildfires in the Los Angeles area have forced nearly 180,000 residents to evacuate their homes. As they wait to learn the extent of the damage, another crisis is on the horizon: whether private and state-funded insurance can handle a disaster on track to be one the worst in the region’s history.
Today on the show, Bloomberg Green reporter Leslie Kaufman discusses why this fire has been so destructive and the state of wildfire insurance in California.
Read more: Los Angeles Fires Become Existential Test for California’s Stopgap Insurer
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The ‘Everything, Everywhere, All at Once’ Cyber Threat
US intelligence officials say that a hacking campaign known as “Volt Typhoon” has the potential to disrupt critical infrastructure systems in Guam — a significant hub for the US military that holds particular importance in US-China relations.
On today’s Big Take DC podcast, Bloomberg national security reporter Katrina Manson shares what she’s learned about the threat and how it could limit America’s ability to push back if China were to invade Taiwan.
Read more: The US’s Worst Fears of Chinese Hacking Are on Display in Guam
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Inflation Claims Another Incumbent, This Time in Canada
On Monday, Canada’s Prime Minister Justin Trudeau announced he was resigning — the latest in a series of incumbents around the world who’ve been ousted or stepped aside as their countries grapple with the effects of inflation.
Today on the show, Bloomberg reporter Brian Platt joins host Sarah Holder to track Trudeau’s rise and fall. Platt explains how housing costs, a surge in immigration and the loss of a key party ally pushed Trudeau to step down — and where Canada goes from here.
Read more: Canada Tilts Right: Inflation Claims Trudeau as Its Latest Victim
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OpenAI’s Sam Altman Sits Down With Bloomberg Businessweek
After CEO Sam Altman was dramatically fired and rehired in November 2023, he got right back to work building up OpenAI, best known for ChatGPT.
Now, about a year after that leadership upheaval, and two years after the seismic launch of that chat bot, Altman sat down with Josh Tyrangiel for a wide-ranging interview. Josh joined David Gura to talk about Altman’s evolution from Silicon Valley venture capitalist to a leader of the AI revolution, and how Altman is approaching the future of OpenAI — and planning to navigate the next four years under the Trump administration.
Read more: Sam Altman on ChatGPT’s First Two Years, Elon Musk and AI Under Trump
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The Human Egg Trade: Episode 3 - The Journey
A new series from the Big Take podcast investigates the booming market for human eggs.
In this episode, host Sarah Holder and Bloomberg’s Jessica Brice focus on the Kemptons, an Australian couple who needed donor eggs to get pregnant. They wanted access to a market they felt offered transparency. They especially wanted information about potential donors. What followed was an around-the-world quest to create a family — filled with promise, gutting losses and extreme cost.
Read more: The Egg
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We Read Hundreds of 2025 Market Predictions So You Don’t Have To
Every year, senior markets editor Sam Potter reads predictions for the year ahead from leading financial institutions around the world. The theme of this year’s predictions: uncertainty.
One event on the horizon has contributed to both their predictions for 2025 and the uncertainty in a unique way: Donald Trump’s return to the White House. Potter joins host David Gura to unpack what financial institutions are expecting for this year, given what they know and what they don’t.
Read more: Here’s (Almost) Everything Wall Street Expects in 2025
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The Year AI Broke Into Music
2024 was the year AI broke into the music industry. Record labels that had fought AI-generated songs at every turn started to consider how they might want to use AI tools. But as the technology creeps into more parts of the music production process, not everyone agrees on where to draw ethical and legal lines.
On today’s Big Take podcast, Grammy Award-winning producer Timbaland, Universal Music Group executive Michael Nash, Bloomberg audio reporter Ashley Carman and host Sarah Holder examine who stands to benefit from the AI-music boom — and who has the most to lose.
Read more: Ashley Carman’s Soundbite newsletter
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Indonesia Is Building a New Capital. It’s Not Going Well
Indonesia has embarked on an ambitious project to build a new capital city from scratch because Jakarta is overcrowded, polluted and sinking, fast.
But the multibillion dollar new city, Nusantara, was plagued with problems from the very start. On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Faris Mokhtar about what went wrong, and what’s at stake for Southeast Asia’s largest economy if it fails.
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Why Are Airline Rewards So Complicated?
Frequent flyer programs began as a way for airlines to build loyalty and fill empty seats. They’ve since morphed into a complex financial ecosystem that’s drawn the ire of even the most savvy consumers and the scrutiny of the US Department of Transportation.
Bloomberg’s global aviation editor Benedikt Kammel joins David Gura to talk about points, miles, qualifying trips — and how we got here in the first place.
Read more: The Airline Rewards Game Is Getting Tougher to Win
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Market-Moving US Economic Data Is Under Threat
From inflation data to unemployment rates, the US government releases numbers every month that move markets and shape policies. But the agencies responsible for gathering that data are struggling — and President-elect Donald Trump’s promise to find cuts across agencies could further strain their resources.
On today’s Big Take DC podcast, Bloomberg economics editor Molly Smith joins host Saleha Mohsin to dig into what’s at stake if the federal government scales back on its investment in economic data.
Read more:
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Market-Moving Data Under Threat as Trump Returns to Washington
- BLS Needs Culture Revamp After Botched US Releases, Review Finds
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Netflix’s Big Bet On ‘Squid Game’
The gory, dystopian South Korean thriller Squid Game is the most popular series Netflix has ever released. This week, it drops season two — in the midst of the company’s efforts to grow the show beyond the screen.
On today’s Big Take Asia Podcast, host Rebecca Choong Wilkins talks to Bloomberg’s Sohee Kim and Lucas Shaw about the new season, the story of how the show was nearly never made and all the ways Netflix is trying to expand Squid Game into a global franchise — from reality TV and video games to in-person fan experiences.
Read more: ‘Squid Game’ Returns in Test of Netflix Global Marketing Muscle
Further listening: K-Pop’s Big Bet on Becoming Less Korean
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The Weight-Loss Drug Boom’s Prescription Problem
Drugs like Ozempic and Wegovy have skyrocketed in popularity over the past few years. To capitalize on that demand, telehealth companies started offering compounded versions of those drugs. That’s made them easier to access, but it’s also introduced new potential risks for people recovering from eating disorders like anorexia.
On today’s Big Take podcast, Bloomberg reporter Madison Muller joins host Sarah Holder to share what she’s learned about the ways telehealth can make it easier for people to get prescriptions that could harm them.
Read more: The Weight-Loss Drug Gold Rush Has a Dangerous Prescription Problem
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The Human Egg Trade: Episode 2 - The Theft
A new series from the Big Take podcast investigates the booming market for human eggs. It’s a global and opaque market where demand is so great, that even where regulations are in place, there are powerful incentives to evade them.
In this episode, host Sarah Holder and Bloomberg’s Vernon Silver focus on one fertility clinic in Greece that police say stole the eggs of as many as 75 women. It’s a story that shows how the actions of one clinic can have ripple effects around the world and reveals the unique ways that the fertility industry runs not only on capital, but on trust.
Read more from Bloomberg Businessweek: The Egg
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Antony Blinken: The Exit Interview
In his final month as the United States’ chief diplomat, Secretary of State Antony Blinken is racing around the globe, responding to conflicts in the Middle East and the latest developments in the war in Ukraine.
During a stop in New York, he sat down with host David Gura to talk about how he is preparing to hand over the country’s sprawling foreign policy portfolio to the incoming Trump administration.
Read more: Syria: Blinken Says US Weighs Sending Officials for Talks - Bloomberg
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The Race for Asylum Before Trump Takes Office
Tens of thousands of migrants in Mexico are currently in limbo after new policies put in place there and in the US changed the process for how people seek asylum. Now, with President-elect Trump promising an immigration crackdown as soon as he takes office, some asylum-seekers are anxious to make it into the US before Inauguration Day.
On today’s Big Take podcast, Bloomberg reporter Alex Vasquez joins host Sarah Holder to explain the complex intersection of these policies and to share the story of one family navigating that system.
Read more: Stranded in Mexico: Trump’s Looming Crackdown Scares Migrants
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China Had a Plan to Rescue Its Housing Market. It’s Not Working
China’s property crisis has become a massive headache for the world’s second-largest economy. Tens of millions of newly built apartments lie vacant, home prices have tumbled and cash-strapped developers are struggling to finish construction.
On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Lulu Chen about what China is doing to try and solve its housing crisis. We go to Zhengzhou, home to the world’s biggest iPhone factory and the city where the housing market first imploded. It's now become a testing ground for government efforts to revive the ailing property sector. We look at whether they’re working, and what it will mean for China’s economy if the big push fails.
Read more: China’s Housing Rescue Falls Short in City That Signaled the Crisis
Further listening: What Comes Next in China’s Property Crisis
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Germany’s Economy Is Facing a Slow-Moving Disaster
Germany’s economy is stagnating; households have less disposable income, and businesses report having less faith in the future. Once the growth engine of Europe, the country has gradually been losing its competitive edge. Now, economic anxieties have fuelled a political crisis that led to Monday’s no confidence vote in the German government.
On today’s Big Take podcast, Bloomberg’s Chris Reiter talks to host Sarah Holder about the consequences of Germany’s economic troubles — for the country and for Europe — and what it could take to turn things around.
Read more: Germany Is Unraveling Just When Europe Needs It Most
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The Human Egg Trade: Episode 1 - The Lie
A new series from the Big Take podcast investigates the booming market for human eggs. It’s a global and opaque market where demand is so great, that even where regulations are in place, there are powerful incentives to evade them.
In this episode, host Sarah Holder is joined by Bloomberg’s Natalie Obiko Pearson to unpack an investigation in India that revealed how far some people will go to get a cut of this trade, even if it means exploiting a child.
Read more from Bloomberg Businessweek: The Egg
Plus, watch the documentary from Bloomberg Originals: Inside India's Fertility Underworld
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Janet Yellen: The Exit Interview
Treasury Secretary Janet Yellen has been a fixture in the economic policy world for decades. She was President Clinton’s chief economic adviser, a Federal Reserve governor and served as Fed Chair under President Obama.
As her tenure at Treasury comes to an end, Yellen sits down with host David Gura to discuss the possibility of additional sanctions on Russian oil and communication between the US and China, and she reflects on her long career as a pioneering economic policymaker.
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The Most Powerful Families in South Korea Brace for the Next Revolt
South Korea’s family-run conglomerates – or chaebols – have been big drivers of economic growth, and because of that they’ve largely been seen as untouchable. Until now. The chaebols are being challenged, at a time when the stakes have potentially never been higher, with the country mired in political turmoil.
On today’s Big Take Asia Podcast, Rebecca Choong Wilkins talks to Bloomberg reporter Youkyung Lee about how a surprise takeover bid for one of the world’s biggest refined metal producers, Korea Zinc, is sending a chill through the chaebol world.
Read more: Powerful Families Who Dominate South Korea Face an Investor Revolt
Further listening: The Six Hours of Martial Law That Stunned South Korea
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Inside UnitedHealthcare in the Days After CEO Shooting
Since UnitedHealthcare CEO Brian Thompson was killed last week, there’s been a deluge of posts on social media expressing rage at the insurance industry and solidarity with the shooter.
Bloomberg reporter Riley Griffin joins Big Take host David Gura to discuss what the shooting revealed about public sentiment toward American health care, and how United and its peers are responding to the attack and its aftermath.
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The Middle East After Assad
After rebels took Syria’s capital, President Bashar Al-Assad fled Damascus for Russia, ending his brutal 24-year reign. His ouster marks the beginning of a new, uncertain phase for a country that’s been ravaged by 13 years of civil war.
On today’s Big Take podcast, Bloomberg’s Paul Wallace joins host Sarah Holder to discuss how Assad’s toppling has opened up a power vacuum in Syria — and what it means for the Middle East, the Syrian people and the world.
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What CEOs Want From Trump
Surveys have shown that business leaders around the US are excited about Donald Trump’s return to the White House. But not all of the policies he’s promising appeal to every CEO.
On today’s Big Take DC podcast, Business Roundtable CEO Josh Bolten joins host Saleha Mohsin to share what the business leaders he represents want from tax and trade policy — and Bloomberg’s Nancy Cook describes how Trump relishes one-on-one negotiations with fellow executives.
Read more: US Executives Turn More Optimistic After Trump Win, Surveys Show
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The Six Hours of Martial Law That Stunned South Korea
In an address broadcast live on Tuesday night, South Korean President Yoon Suk Yeol declared martial law in a move that shocked the nation – and the world. But within hours, after lawmakers unanimously rejected the move and protesters converged on parliament, Yoon went on live television again and backed down, promising to lift the emergency measure.
On today's Big Take Asia Podcast, host K. Oanh Ha sits down with Bloomberg’s Sam Kim in Seoul to break down the stunning turn of events. They talk about what happened on the ground during the brief period of martial law, and what the political chaos means for an emerging democracy that remains a key military ally and trading partner of the US.
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After No-Confidence Vote, France Faces Tumult and Uncertainty
The government of French President Emmanuel Macron collapsed Wednesday after losing a no-confidence vote. The outcome brings the country one step closer to a far-right government — the one thing President Macron has sought to avoid at all costs.
Bloomberg’s Stephen Carroll and Big Take co-host David Gura break down the current pressures on France’s government, what led to the vote and what we know about what comes next.
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A Holiday Splurge for Companies? Their Own Shares
For companies with extra cash, it's a popular season for buying back their own shares. In the past few years alone, publicly traded companies in the US executed hundreds of billions worth of stock buybacks. And 2024 is on track to be the biggest year in buybacks ever.
So how do they work? And what’s behind their rise in popularity? Bloomberg reporter Lu Wang joins Big Take co-hosts David Gura and Sarah Holder to explain the logic behind buybacks, and unpack who wins and who loses when companies turn to them.
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Inside Mar-a-Lago: The New Center of American Political Power
Power brokers, administration nominees and even the prime minister of Canada have travelled to Mar-a-Lago in recent weeks to meet with President-elect Donald Trump at his resort, making it a new center of political power.
On today’s Big Take podcast, Bloomberg wealth reporter Amanda Gordon joins host David Gura to discuss Trump’s use of Mar-a-Lago in the lead-up to his inauguration, the impact he’s had on the surrounding area and South Florida’s growing influence on national politics.
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Airlines Are Cashing in on ‘Premiumization’
If you’ve bought an airplane ticket recently, you may have noticed that there are a lot more options to choose from — and a lot more line items to pay for. It’s all part of airlines’ strategy of “premiumization.” And it’s why the front of the plane is getting cushier, while coach can feel like a low-cost shakedown.
On today’s Big Take podcast, Bloomberg Businessweek senior reporter Amanda Mull joins host Sarah Holder to discuss how airlines are rethinking their pricing — and what it means for airline revenue and your flight experience.
Read more: Why the Flying Experience Feels So Much Worse
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Beak Capitalism: What Chicken Tells Us About Inflation
What can the humble chicken reveal about the economic conditions shaping our lives? Turns out, a lot.
Understanding the chicken industry can help explain some of the thorniest issues facing the US economy. In “Beak Capitalism,” a new three-part series, Odd Lots hosts Joe Weisenthal and Tracy Alloway trace chicken from the farm to the factory to the table.
In the first episode, they examine the consumer side of the industry – including the chicken sandwiches war back in 2019 and the rising cost of eggs.
Further listening: Beak Capitalism, Part 2: The Chickenization of Everything
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How Sports Betting Is Changing the NFL for Fans and Players
Gambling on sports is now legal in almost 40 states in the US, and pro-football is at the center of the rapidly growing, multibillion dollar industry that’s cropped up since the Supreme Court paved the way for it in 2018.
Big Take host David Gura joins Bloomberg’s Jason Kelly, who co-hosts The Deal podcast with Alex Rodriguez, to discuss the ways that the normalization of betting culture is impacting the NFL, its athletes and its fans.
Read more: ‘I’m So Scared’: NFL Players on How Betting Changes the Sport
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The $250 Million Bribery Charges Rocking the Adani Empire – and India
India’s Gautam Adani, one of the world’s richest men, was charged last week by US prosecutors over his alleged involvement in a $250 million bribery scheme. The indictment sent the stocks and bonds of Adani’s vast conglomerate tumbling and is the second governance crisis to hit the group in two years.
On today’s Big Take Asia Podcast, host K. Oanh Ha and Bloomberg’s Menaka Doshi discuss what the charges mean for Adani’s empire and corporate India, and the implications for US-India relations.
Read more: Gautam Adani Bribery Charges Impact His Net Worth, Markets Beyond India
Further listening: $200 Billion, Four Heirs And One Mighty Empire
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Why Trump’s Treasury Secretary Pick Is Reassuring Wall Street
After a messy, public competition between hopefuls, President-elect Donald Trump nominated hedge fund manager Scott Bessent to be the next Treasury secretary.
On today’s Big Take DC podcast, hosts Saleha Mohsin and David Gura discuss why Trump chose Bessent, and how Bessent might approach the job.
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New York City’s Big Battle Over Broker Fees
New York City has some of the highest housing costs in the US. In addition to sky-high rents, tenants often have to pay a fee to a real estate broker when they sign a new lease — whether they hire them or not. But that’s about to change.
Today on the show, host Sarah Holder speaks with City Councilmember Chi Ossé about the passage of his bill that will eliminate upfront broker fees for most renters, and hears from supporters and opponents of the legislation. And Bloomberg reporter Paulina Cachero unpacks what the effort could mean for New York’s renters.
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Pakistan Is Getting Too Expensive For Its Middle Class – So They’re Leaving
A record number of Pakistanis are leaving at a rapid speed. Among them are some of the country’s top talent including doctors, engineers, accountants and managers. Over the last three years, one million skilled workers like them have left Pakistan.
On today’s Big Take Asia Podcast, host Rebecca Choong Wilkins talks to Bloomberg’s Pakistan Bureau Chief Faseeh Mangi about what’s behind the severe brain drain in one of the world’s most populous nations, where the immigrants are going, and what it means for the country’s already fragile economy that depends on loans from the International Monetary Fund.
Read more: Pakistan’s Top Talent Is Leaving the Country in Record Numbers
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As the US Turns Inward, the World Order Realigns
This year’s G-20 summit in Brazil revealed a new reality: The world order is shifting as President Joe Biden wraps up his final months in office and President-elect Donald Trump returns to power.
On today’s Big Take podcast, Bloomberg’s Flavia Krause-Jackson and host David Gura join the show from Rio de Janeiro to talk through the gathering of the world’s largest economies and how they’re preparing for a new geopolitical era.
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The Shadowy Fleet of Tankers Moving Iranian Oil to China
Every year, billions of dollars of sanctioned Iranian oil finds its way to China, even though on paper the country hasn’t imported a single drop in more than two years. How? On today’s Big Take Asia podcast, host K. Oanh Ha speaks to Bloomberg’s Serene Cheong on her team’s investigation into a clandestine shipping hub off the coast of Malaysia that funnels Iranian crude to China.
Read more: The Clandestine Oil Shipping Hub Funneling Iranian Crude to China
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Inflation’s Latest Victim: Brand Loyalty
Bloomberg reporter Leslie Patton has noticed a pattern looking at the earnings of mid-priced, brand name companies like Kraft and Luvs. Their sales are down, while the sales of similar products on either end of the price spectrum — cheaper generics and high-end premium goods — are up.
On today’s Big Take podcast, Leslie joins host Sarah Holder to discuss how this “middle brand squeeze” is playing out on grocery store shelves.
Read more: Shoppers Are Ditching Classic Brands They Once Loved
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COP29 Confronts Tensions Over Funding Clean Energy Transition
Climate leaders from around the world have convened in Baku, Azerbaijan for the UN’s biggest annual climate conference, COP29. And this year, it’s all about money.
Member nations are negotiating over how much responsibility rich countries have to finance the energy transitions of smaller economies. But larger global tensions loom over the proceedings — including the reelection of Donald Trump.
In today’s episode, Bloomberg’s senior climate reporter and host of Zero Akshat Rathi calls in from COP29 to update host Sarah Holder on the unfolding negotiations and how America’s new president-elect changes the conversation.
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Inside Trump’s Treasury Secretary Shortlist
Over the last week, President-elect Donald Trump has announced his nominees for the top jobs in his administration. But one key position that hasn’t been filled yet is Treasury secretary, and the person Trump picks will play a crucial role in shaping US economic policy.
Senior Washington correspondent and host Saleha Mohsin joins David Gura to tick through the top candidates under consideration and how each might shape the Treasury’s priorities if chosen and confirmed.
Read more: Bessent Hails Trump Agenda as Candidates Vie for Treasury Post
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Another Trump Term Is Coming. Is Asia Ready?
Higher tariffs. Geopolitical flare-ups. Inflammatory comments. All across Asia, countries are bracing for the return of Donald Trump.
On today’s Big Take Asia Podcast, we unpack what a second Trump term means for China, India and other Asian economies – who are the potential winners and losers and what’s ahead. Host K. Oanh Ha is joined by Daniel Ten Kate, Bloomberg’s executive editor for Asia economy and government, Chan Heng Chee, the ambassador-at-large with the Singapore Foreign Ministry, and Erin Murphy, deputy director of Chair on India and Emerging Asia Economics at the Center for Strategic and International Studies.
Read more: Trump Is Set to Elevate China Hawks, Deepening Beijing Rift
Further listening: The Economic Impact of Trump’s Promises
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Why Bitcoin Is Surging to All-Time Highs
Since Donald Trump’s reelection, Bitcoin has surged to its highest value ever, surpassing $89k per coin on Tuesday. It’s a trend playing out across cryptocurrency, an industry that could benefit from deregulation under President Trump.
On today’s Big Take podcast, Bloomberg’s stacy-marie ishmael and David Gura break down whether the recent “melt up” in crypto prices is part another of boom-bust cycle or if the US’s first crypto-friendly president is likely to usher in a new era in digital assets.
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The Economic Impact of Trump’s Promises
President-elect Trump ran on a promise to help American consumers. As he prepares to take office, the question becomes whether his policies will play out the way he sold them — and how they could evolve as he tries to put them into practice.
Bloomberg Economics has done the math on Trump’s plans, and chief economist Tom Orlik joined host Sarah Holder to look at what Trump’s agenda could mean for inflation, GDP and US taxpayers.
Read more: Your Guide to Trump’s Day-One Agenda — From Taxes to Tariffs
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A Big Winner From Trump’s Election Victory? His Businesses
President-elect Donald Trump’s business ventures, from Truth Social to crypto, stand to benefit from his return to power. But just how much?
Today on the Big Take podcast, Bloomberg’s Tom Maloney joins host David Gura to break down Trump’s business interests and assets, and explore how he could cash in on his second term in office.
Read more: Donald Trump’s Billion-Dollar Windfall After Election Is Just the Start
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The Federal Reserve Sets Up for Rematch With Trump
Less than two days after Donald Trump won a second term, the Federal Reserve announced a rate cut. But speaking to reporters, Fed’s Powell faced difficult questions about the path forward for interest rates — and for him — under Trump.
Bloomberg economic policy editor Kate Davidson joins host Saleha Mohsin to discuss how Powell’s answers today set up for a rematch between him and Trump over the Fed’s mission and independence.
Read more: Trump’s Victory Casts a Shadow Over the Federal Reserve
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Trump Wins, Trump Trade Surges
In a stunning political comeback, Donald Trump has been elected the 47th president of the United States. Just before 2:30 on Wednesday morning, he took the stage at his campaign headquarters in Mar-a-Lago, heralding the “greatest political movement of all time” after Vice President Kamala Harris’ path to the Oval Office had all but evaporated.
On today’s Big Take podcast, Bloomberg’s Wendy Benjaminson joins host Sarah Holder to break down how Election Day played out, the surge of the so-called Trump Trade, and what we can expect from a second Trump term.
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Snipers and Steel Doors: Inside Efforts to Secure the US Election
As America heads to the polls for Election Day, thousands of poll workers and local officials are taking extreme measures to keep things running smoothly and to convince the public that they can trust the results.
On today’s Big Take podcast, we hear from election officials and from Bloomberg national security reporter Chris Strohm on efforts to ensure the safety and integrity of the 2024 US election.
Read more: ‘What Worries Me? Everything’: Officials Brace for US Election Day
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Listen Now: US Election Coverage on Bloomberg Podcasts
Be in the know this election with Bloomberg Podcasts. Follow Bloomberg News Now for up-to-the minute election results, all night long. And go deeper with The Big Take podcast, featuring in-depth global analysis of the US election every day this week.
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How the World Is Bracing for a Trump or Harris Win
From conflicts in Europe and the Middle East, to global issues like trade and migration, whoever becomes the next president of the United States will have a huge impact on the rest of the world.
Bloomberg’s Flavia Krause-Jackson and a team of reporters around the world asked government officials one question: How are you preparing for what happens next? Today on the Big Take podcast, she joins host David Gura to share what they found.
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Why Elon Musk Is Opening His Wallet for Donald Trump
Elon Musk has become one of Donald Trump’s most formidable — and vocal — allies. He’s spoken at Trump rallies, formed a pro-Trump PAC, and funneled more than $100 million into Trump and his allies’ campaigns. This political pivot stunned people who long thought of Musk as a hero of the green energy transition. So how did this happen?
In the first episode of Citizen Elon, host Max Chafkin explains the grievances, grudges and online influences that have shaped Elon Musk’s political ideology — and the ways his money and megaphone are shaping the race.
Read More: When Elon Musk Got Political
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Can the World Count on the Dollar If It Can’t Count on Smooth Elections?
The world is watching for instability after the US election next week. If there’s a repeat of the chaos that followed the 2020 results, it could damage not just American democracy, but something else: the global financial system that America dominates.
Today on the show, host Saleha Mohsin is joined by former Senator Pat Toomey to unpack what’s at stake for a world that runs on US dollars if a peaceful transfer of power is no longer a given in the world’s oldest democracy.
Read more: Election-Violence Risk Threatens US Dollar Dominance
Further listening: Bloomberg’s Trump Interview: Inside His Economic Vision for a Second Term
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Silicon Valley Elites Want to Block the Sun. Not Everyone’s On Board
It sounds like science fiction, but it’s real: Venture capitalists, startup founders, and Silicon Valley elites are pouring money into a controversial technology called solar radiation modification that could cool the planet by blocking the sun.
Today on the show, host Sarah Holder talks to Bloomberg reporter Sophie Alexander about the international coordination needed for something like this to work, and why funding for it is ramping up even as researchers express concerns about the possible consequences.
Read more: Silicon Valley’s Elite Pour Money Into Blotting Out the Sun
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The US Pledged to Contain China’s Tech Ambitions. It’s Not Working
China is making steady progress in its quest to dominate key industries of the future, despite years of US tariffs, export controls and sanctions.
On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Rebecca Choong Wilkins about how the US is struggling to curb Beijing’s technological advances, and whether the upcoming election could change the dynamic.
Read more: US Efforts to Contain Xi’s Push for Tech Supremacy Are Faltering
Further listening:
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On Thursday, Odd Lots will dig into Bloomberg’s research on the Made in China plan, and why it largely succeeded in spite of US efforts. Subscribe here.
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Wall Street Is Betting Big on a Trump Win
With the US presidential election just over a week away, most major polls, including the latest Bloomberg/Morning Consult poll, show Vice President Harris and former President Trump in a dead heat. But Wall Street seems increasingly convinced Trump is going to win. And that is manifesting in what's come to be called “The Trump Trade.”
Today on the Big Take podcast, Bloomberg Opinion’s John Authers sits down with host David Gura to break down what the trade is, and what it reveals about how Wall Street sees this election and the future of the economy.
Read more: Prediction Markets Reflect That the Clock Favors Trump
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So Your Business Went Viral. Now What?
For a small business, going viral might sound like a good thing. But when a TikTok video turns a shop into an overnight success, that attention can come with major challenges.
On today’s Big Take podcast, host Sarah Holder visits small business owners riding the wave of overnight success, and explores the economics of virality with Amanda Mull.
Read more:
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To Save the Amazon, Brazil Is Betting You Can’t Just Save the Trees
Decades-long efforts to save Brazil’s Amazon have hit a brutal reality. Impoverished local communities often turn to agribusiness and other industries that drive deforestation.
On today’s Big Take podcast, Bloomberg’s Brazil bureau chief Vanessa Dezem joins host Sarah Holder to talk through the link between poverty and deforestation and the country’s new efforts to save its rainforest by building up local economies.
Read more: The Amazon’s Relentless Poverty Cycle
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It’s Close. Very Close.
Bloomberg News and Morning Consult have spent the past year polling voters in the seven key swing states that could decide the election: Arizona, Georgia, Pennsylvania, Michigan, Nevada, North Carolina, and Wisconsin.
The results are in for the last poll before Election Day — and the race between Donald Trump and Kamala Harris could hardly be closer.
Senior editor Wendy Benjaminson leads Bloomberg’s polling coverage. She joins Big Take DC host Saleha Mohsin to unpack the state of the race and the economic concerns motivating these voters as November 5 approaches.
Read more: Two Weeks Out, Trump and Harris Are Locked in a Dead Heat
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How China’s BYD Became King of the Affordable EV
Started as a battery company in the 1990s in Shenzhen, BYD is now one of the best-selling EV brands in the world. Once mocked by Elon Musk, the company’s startling growth made it a global player and has sparked tariffs in the US and EU.
On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Gabrielle Coppola and Danny Lee about the company’s aggressive expansion and what it means for the global auto market.
Read more: BYD Is Winning the Global Race to Make Cheaper EVs
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The Big (Climate) Short
In recent years, investors of all kinds bet big on the future of the so-called Green Economy. But now, some hedge funds are shorting green stocks — a sign that investor enthusiasm may be waning.
A new Bloomberg analysis examines the positions that more than 500 hedge funds have taken on the green economy. On today’s Big Take podcast, Bloomberg ESG reporter Sheryl Lee joins host David Gura to discuss the findings, and why some investors who had bet on a sustainable future are now betting against it.
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What Happens When Your School Thinks AI Helped You Cheat
The education system has an AI problem. As students have started using tools like ChatGPT to do their homework, educators have deployed their own AI tools to determine if students are using AI to cheat.
But the detection tools, which are largely effective, do flag false positives roughly 2% of the time. For students who are falsely accused, the consequences can be devastating.
On today’s Big Take podcast, host Sarah Holder speaks to Bloomberg’s tech reporter Jackie Davalos about how students and educators are responding to the emergence of generative AI and what happens when efforts to crack down on its use backfire.
Read more: AI Detectors Falsely Accuse Students of Cheating—With Big Consequences
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How Courts Are Already Shaping the 2024 US Election
Since 2023, more than 165 lawsuits have been filed challenging nearly every dimension of this year's presidential election. Across 37 states, including all seven swing states, these court cases could determine who can vote, how they vote, and how those votes will be counted.
Bloomberg’s Zoe Tillman is tracking these cases as Election Day nears, and joins host Saleha Mohsin to discuss the role courts will play in the outcome of the presidential race — and what this all means for public trust in the voting process.
Read more: More Than 165 Lawsuits Are Already Shaping the 2024 US Presidential Election
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Bloomberg’s Trump Interview: Inside His Economic Vision for a Second Term
With the US presidential election less than a month away, and the economy top of mind for many voters, former President Donald Trump sat down for an interview with Bloomberg Editor-in-Chief John Micklethwait at the Economic Club of Chicago on Tuesday.
On today’s Big Take podcast, host David Gura highlights the key takeaways from the interview. From Trump’s defense of tariffs, to his plans for the Federal Reserve and immigration, the interview offers a view of what a second Trump term could mean for the global economy.
Read more: Trump Says Growth to Outpace Feared Debt, Inflation From Agenda
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How an Infamous Vietnamese Businesswoman Engineered a $12 Billion Fraud
Vietnamese real estate tycoon Truong My Lan was convicted in April of orchestrating a $12.3 billion fraud. She was sentenced to death by lethal injection, which she is appealing. And this week, the court is expected to hand down another verdict on additional charges.
On today’s Big Take Asia podcast, host K. Oanh Ha speaks to Bloomberg’s John Boudreau about how Lan was able to embezzle so much money for so long, how she went from riches to death row and what her multibillion fraud case means for one of the fastest growing economies in Asia.
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Insurers Are Struggling to Keep Up With Disasters Like Helene and Milton
In recent weeks, two monster storms have pummeled the US. Hurricanes Helene and Milton left more than 200 dead — and early estimates suggest the recovery could cost more than $100 billion. It’s a huge strain on affected homeowners and the insurance industry that’s meant to shoulder some of that burden.
On today’s Big Take podcast, Bloomberg’s Leslie Kaufman joins host David Gura to talk about the increasing severity and frequency of extreme weather events, and how the new normal is changing the calculus for insurers.
Read more: Federal Flood Maps Are No Match for Florida’s Double Hurricane
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How Uber and Lyft Used ‘Lockouts’ to Deny NYC Drivers Millions
Uber and Lyft promised to give drivers independence and the flexibility to work whenever they wanted. But this summer in New York City, these ride share companies started restricting when their drivers could go online. A new Bloomberg investigation found that driver lockouts were designed to save the companies millions in minimum wage payments — and ultimately cost drivers in the process.
On today’s Big Take podcast, Bloomberg tech reporter Natalie Lung joins host Sarah Holder to talk about the strategy behind the lockouts, and how she and her team crowd-sourced stories from hundreds of drivers to understand the impact.
Read more: How Uber and Lyft Used a Loophole to Deny NYC Drivers Millions in Pay
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When Will We Know Who the Next President Is?
Will we know the result of the 2024 US Presidential election on election night? Or will the new normal look like 2020, when Americans had to wait days for the final call?
Bloomberg politics reporter Gregory Korte joins Big Take DC host Saleha Mohsin to break down what’s changed since former President Donald Trump began contesting the results of his 2020 loss, and what could happen if a drawn-out election call stokes uncertainty in the electoral process.
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Could Contaminated Water Dull Perrier’s Sparkle?
Perrier, the popular French bottled water brand, has long been a symbol of luxury. But it’s now under scrutiny after regulators found trace amounts of fecal matter and pesticides where its water is sourced.
On today’s Big Take podcast, Bloomberg consumer goods reporter Dasha Afanasieva joins host David Gura to talk about how Perrier and its parent company, Nestlé, have responded — and ask bigger questions about sustainability in the global water business.
Read more: Perrier Well Contamination Sparks Scrutiny for Luxe Water Brand
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Inside the Succession Drama at a Hong Kong Property Dynasty
Adrian Cheng, the third-generation scion of property dynasty New World Development, seemed poised to take over his family’s $20 billion empire. But last month, in a surprising twist, he was replaced as CEO by someone outside of his family.
On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Shawna Kwan about the succession drama at New World, the possible ripple effects on other family dynasties in the region, and what it all could mean for the future of one of Hong Kong’s major property developers.
Read more: New World Scion’s Fall Upends Succession at $23 Billion Dynasty
Further listening: $200 Billion, Four Heirs and One Might Indian Empire
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One Year Later, a Region in Conflict
On October 7, 2023, Hamas attacked Israel and Israel responded by declaring war. One year later, that war rages on, conflict has spread through the region, and activists around the world are calling for peace.
Today on the Big Take podcast, Bloomberg’s Israel bureau chief Ethan Bronner joins host David Gura to reflect on how the October 7 attacks have transformed the region and what comes next.
Further listening: The Escalating Conflict in the Middle East
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Inside the Deal That Held Off the Dock Workers Strike
Shipping ports all along the East Coast and Gulf Coast shut down earlier this week, as the 47,000 members of the International Longshoremen’s Association went on strike. Their demands: A pay raise of nearly 80% over 6 years and strict limits on the use of automation in the nation’s ports. Shipping companies refused and worries mounted that the strike could drag on for weeks, creating gridlock at the ports, and recreating some of the pandemic-era supply chain snarls.
But dockworkers and shipping companies struck a temporary deal late Thursday. Today on the Big Take, Sarah Holder and reporter Laura Curtis talk through the details of the deal, why the White House got involved and who the winners and losers are.
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US Tech Is Helping Guide Russian Missiles Into Ukraine
After a Russian missile hit the Ukrainian city of Chernihiv, Ukrainian investigators found the navigation system had components made by four Western companies, including two in the US.
Today on the Big Take, Bloomberg reporter Stephanie Baker talks to host David Gura about how these components are making their way to the battlefield and what steps the US government is taking to try to prevent that from happening.
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Vance and Walz’s New Debate Tactic: Civility
In the first and only vice presidential debate of the 2024 US election cycle, Tim Walz and JD Vance had two objectives: Keep the momentum going for Kamala Harris or Donald Trump, and do no harm. But one of the most surprising takeaways of the policy-forward debate was just how respectful the conversation was.
Bloomberg senior editor Wendy Benjaminson joins host Sarah Holder to break down key moments – from the cordial to the confrontational – and what Vance and Walz’s performances mean for their tickets.
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The Escalating Conflict in the Middle East
Iran attacked Israel for the second time in five months Tuesday, with a volley of missiles coming hours after Israel launched a ground incursion into Lebanon.
Today on the Big Take, Bloomberg’s Dan Williams, a reporter in Bloomberg’s Jerusalem bureau, and Joumanna Bercetche in Dubai join host David Gura to talk about the latest on the Middle East and what that means for the region – and the US.
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The Investment Strategy Behind Harvard’s Record Endowment — and How It Fell Apart
Harvard University’s endowment fund is larger than the endowment of any other university on the planet. That’s, in part, because of a pioneering investment strategy. But in recent years, the returns haven’t measured up to rival universities like Yale or Brown.
Bloomberg’s Janet Lorin joins host David Gura to talk about how Harvard University’s early edge seems to have waned in the midst of changing leadership and strategies.
Read more: Harvard’s Not-So-Smart Money: Two Decades of Poor Returns and Rich Pay
Further Listening:
- Facing Huge Challenges, One College Tries to Be Too Big to Fail
- If College Is an Investment, These Offer the Best ROI
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China’s Economic Crackdowns Are Crushing the Dreams of a Generation
This week, China’s central bank announced a stimulus package designed to revive the economy, cutting an interest rate and reducing the amount of money banks need to hold in reserve.
But the country’s ongoing drive to upgrade its struggling economy has left millions of people facing job losses or pay cuts, fueling an existential crisis among some of its best and brightest workers.
On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg's Lulu Chen about the impact Xi Jinping’s push is having on professionals, from banking to tech, and what this anxiety could mean for the outlook of the world’s second-largest economy.
Read more:
Xi Unleashes a Crisis for Millions of China's Best-Paid Workers
China Unleashes Stimulus Package to Revive Economy, Markets
Further listening:
Why China’s Investment Bankers Are Breaking Up With Capitalism
What Does China’s Economic Slowdown Mean For the Communist Party?
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Harris Gains Edge Over Trump on Economy in New Swing State Poll
For the past year, Bloomberg News and Morning Consult have been polling voters in swing states. Former President Donald Trump has had a consistent lead when it comes to the question of who voters trust on the economy. But a new poll of likely voters shows Vice President Kamala Harris closing that gap in key states.
Today, senior editor Wendy Benjaminson joins the Big Take DC to dig into how this polling works and what we can learn from the results.
Read more: Kamala Harris Holds Razor-Thin Lead Across Swing States in Tight 2024 Race
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Private Equity, But for Dying Universities
Skyrocketing tuition costs, COVID and fewer high school graduates have been straining the survival of smaller American colleges, leading many to shut down. Now, some are joining a surprising new path: mergers and acquisitions.
Bloomberg reporter Francesca Maglione sits down with Big Take host David Gura to discuss why some colleges are eager to merge with others, and what this new dynamic might mean for the future of higher education.
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Could the Chinese Yuan Ever Replace the US Dollar?
Talk of de-dollarization has been gaining momentum among China, India, Brazil, Russia and South Africa in the wake of significant US led sanctions on Russia. Former US President and candidate Donald Trump has said the currency is under attack — and that any country that shuns it would face new tariffs on imports if he is elected.
On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Saleha Mohsin about the unique role the dollar plays in the world economy — and what, if anything, could replace it.
Read more: The Dollar’s Dominance, Explained
Further listening: Odd Lots Podcast – How the US Dollar Became an International Weapon of War
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The Pager Attack Was a Deadly Warning About Supply Chains
Fighting has escalated in the Middle East after thousands of pagers and walkie talkies held by Hezbollah operatives exploded across Lebanon last week. That attack is the most recent example of supply chain interference — a global problem that national security officials say is now “rampant.”
Bloomberg cybersecurity reporter Katrina Manson and defense and intelligence reporter Peter Martin sit down with Big Take host Sarah Holder to break down what we know about how and when the Hezbollah pagers were turned into bombs — and what countries like the US and China are doing to protect their supply chains from foreign infiltration.
Read more: Exploding Pagers Raise Global Supply-Chain Security Concern
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The Genius Minds Behind the World’s Best Poker Bots
Computers have outplayed humans in chess and Go for decades. But poker was long considered unhackable. The game requires not just crunching numbers, but creativity and complex strategy. That only started to change about 10 years ago, when a new generation of unbeatable poker bots began to appear online.
The makers of the technology remained in the shadows, so Bloomberg’s Kit Chellel set out to find them. On today’s Big Take podcast, he joins David Gura to share the story of how a group of Russian students invented the world’s best online poker bots and what that means for the multi-billion-dollar industry.
Read more: The Russian Bot Army That Conquered Online Poker
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Understanding Kamala Harris’ Plan for the Economy
Since Vice President Kamala Harris took over the Democratic presidential ticket, she’s faced criticism from voters who say they don’t know what she stands for. But we know two Bloomberg reporters who do: California bureau chief Karen Breslau, who’s been following Harris’ career for two decades, and Josh Wingrove, who covers her campaign.
Today on the show, they join host Sarah Holder to discuss what we know about Harris’ economic message and what a Harris presidency could mean for everything from domestic taxes to global trade.
Read more: Understanding Kamala Harris
Further listening: Donald Trump Sits Down With Bloomberg Businessweek
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The Fed Cut Interest Rates. Now What?
The Federal Reserve announced a highly anticipated rate cut of half a percentage point today — larger than many watchers anticipated. Which industries and companies will feel this interest rate cut the most, and what will it mean for everyday consumers?
Bloomberg’s Enda Curran joins host Sarah Holder to talk about what effects we can expect to see as the rate cut ripples through the US economy and the world — and hits our wallets.
Read more: Rent Is the Stubborn Part of the Inflation Story
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The Fed Finally Seems Ready to Pivot
This week, the Federal Reserve is expected to cut interest rates for the first time in over four years. And there’s debate over how big the cut will be and how soon it will impact the economy.
Bloomberg’s Kate Davidson joins host David Gura to discuss this turning point for the economy, and what else Fed policymakers have in store for the future.
Read more: Fed Ready to Unshackle US Economy With Soft Landing at Stake
Further listening: What a September Cut Could Mean for the Economy and the Election
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California’s Controversial AI Bill Could Upend the Industry
A controversial AI safety bill was just passed by California’s legislature. It’s been spurned by OpenAI and Nancy Pelosi, championed by Elon Musk – and could radically reshape the future of the technology’s development not just in the state, but globally.
On today’s podcast, host Sarah Holder speaks with California State Senator Scott Wiener, the author of SB 1047, about why he thinks California needs to take a lead in regulating AI. And Bloomberg tech reporter Shirin Ghaffary explains why even if the bill is vetoed by Governor Gavin Newsom, the questions it has raised about AI regulation could be long-lasting.
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Buttigieg on Fixing America’s Travel Woes
The year started with the door of an airplane falling off mid-flight. Frustrations with air travel have mounted since then. It’s up to Pete Buttigieg, the Transportation Secretary, to address those problems — which include everything from Boeing’s woes to the shrinking value of airline loyalty points.
Buttigieg joined the Big Take DC podcast in an exclusive interview to talk about the future of air travel, and his political future after his tenure in the Biden administration ends.
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Harris Trolled Trump. He Took the Bait.
In a wide-ranging debate on Tuesday night, Vice President Kamala Harris repeatedly put former President Donald Trump on the defensive. Harris leaned into her past as a prosecutor, needling Trump on issues ranging from immigration to the economy and abortion. He attempted to criticize her record and define her as a radical unfit for the presidency.
Bloomberg senior editor Wendy Benjaminson and host David Gura unpack the viral moments from the night, analyze the candidates’ performance, and discuss what comes next.
Read more: How Kamala Harris Baited Trump Into a Debate on Her Terms
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Apple’s Strategy to Rule the World
Apple is at a turning point. It ascended from a scrappy tech underdog to the most valuable company in the world through selling devices like iPhones, Macs and Apple watches. But now, a significant portion of its revenue comes from digital services.
On today’s Big Take podcast, Bloomberg’s Austin Carr tells host Janet Paskin what this shift means for Apple’s appetite for risk, its battles with regulators in the US and Europe, and what that means for all of us.
Read more: How Apple Rules the World
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Janet Yellen’s Predictions for the US Economy
On today’s podcast, host David Gura speaks to US Treasury Secretary Janet Yellen about everything from the health of the economy to negotiating with China. He also accompanies her on a trip to an IRS processing facility in Texas to talk about tax cheats and what to do about them.
Read more: Yellen Says Jobs Report Confirms Labor Market ‘Quite Healthy’
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Everything Is Content Now. Even Your Layoff
Eleven million people have been let go in the US so far this year. And the job market they’re entering isn’t easy: the latest jobs report showed the economy added just 142,000 jobs in August. But ever since the pandemic, the way we experience — and process — getting laid off has fundamentally changed. It’s no longer just a source of shame. It’s become social media content.
Today on the show, host Sarah Holder speaks with a tech worker who’s at the forefront of the hottest new job market trend: posting publicly about your layoff. And Bloomberg reporter Jo Constantz explains what the shift in how we approach layoffs means for employees and employers everywhere.
Read more: Losing Your Job Used to Be Shameful. Now It’s a Whole Identity
Further listening:
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Trump Is Behind Harris on Fundraising. Will it Matter?
With two months until election day, Kamala Harris’ campaign is outpacing Donald Trump's on fundraising. But this late into the race, how much does money matter?
Big Take DC host Saleha Mohsin sits down with Bloomberg money and politics editor Laura Davison to break down both campaigns’ finances, how they might spend their money, and how much impact cash could actually have in the race.
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The Billionaire Brothers Capitalizing on the NFL, Soccer, and Taylor Swift
Billionaire brothers Clark and Dan Hunt, co-owners of the Kansas City Chiefs, aren’t resting on their laurels after back-to-back Super Bowl victories. They’re hoping for another title, and they’re growing their family’s sports portfolio.
The Hunts want to boost the NFL’s popularity overseas, and as co-owners of FC Dallas, they’re also trying to capitalize on the 2026 FIFA World Cup.
Bloomberg reporter Randall Williams shares highlights from a recent conversation he had with the Hunt brothers about their latest deals and their hopes for the future.
Further Listening: Big Take: The Last Great American (Football) Dynasty - Bloomberg
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Seeking Asylum in the US? Good Luck.
The US asylum process is meant to offer a fair shot at safe haven. But new reporting from Bloomberg uncovers how the difference between those who are granted asylum and those who are denied often boils down to chance.
On today’s Big Take podcast, Bloomberg investigative reporter Monte Reel joins host David Gura to trace the arc of one man’s journey and discuss new data analysis that reveals the flaws at the core of the US asylum system.
Read more: Justice Is Beside the Point in America’s Immigration Courts
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Elon, Inc.: Grok-Generated Chaos, Cybertruck In Strange Places
X users might have noticed a new kind of artificial intelligence-generated image proliferating: strange visions of Elon Musk next to Disney characters carrying guns, or Donald Trump in all kinds of, well, weird situations. This was what followed a new release of Musk’s Grok AI tool, which can now make images—unsurprisingly with fewer guardrails than other image-creating machines out there.
On this episode we’ll talk about Grok’s new skillset and also get into the semiotics of the Cybertruck. Initially conceived of as a mass-market truck, it’s slid into another category: marker of a certain kind of right-wing flex, the kind Musk himself has engaged in on his struggling social network. Joining David to discuss is Davey Alba, a Bloomberg technology reporter, along with Max Chafkin and Dana Hull.
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A Flying Taxi Ride Into the Future of Transportation
The taxis of the future are already here. And they’re airborne. After years of research and development and billions in investment, autonomous flying taxis are finally poised to take off. Companies working on these pilotless vehicles have been quietly working on prototypes — and recently, Bloomberg reporter Colum Murphy took a test flight in one of the first models operating in China.
But once the technology is proven, new challenges begin: the industry will have to navigate regulatory hurdles, which can vary country to country, and find a customer base that will trust this new form of air-travel. On today’s episode, Murphy takes the Big Take on his flying taxi ride, and his colleague Angus Whitley explains why it’s a make or break moment for the industry.
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What NASA’s Reliance on SpaceX Means for Boeing
In June, two NASA astronauts flew to the International Space Station on a Boeing spacecraft for a week-long test mission. But problems with the machinery mean they’ll be stuck there for 8 months… and when they come back in February, they won’t be flying Boeing. Instead, they’re hitching a ride with the company’s biggest rival in commercial space travel: Elon Musk’s SpaceX.
Today on the show: space reporter Loren Grush and Boeing reporter Julie Johnsson on the challenges facing Boeing’s space program, the rise of SpaceX, and the future of NASA’s ambitions beyond our planet.
Further listening: Boeing Faces Washington and Wall Street Reckonings
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The Latest Mpox Emergency Was Entirely Avoidable
The World Health Organization declared the last mpox global emergency over in May 2023. And just over a year later, here we are again.
Since the start of 2024, a deadlier, more transmissible strain of the virus has killed about 575 people in the Democratic Republic of Congo and infected 30 times more. New cases have recently appeared in Europe and Asia. In August, the WHO declared a new mpox global health emergency.
Bloomberg’s Ashleigh Furlong joins host Sarah Holder to explain why the latest outbreak could have been avoided — and what it will cost to beat it.
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Humans and AI Bots Blur in the World's Call Center Capital
Call centers in the Philippines, the world’s second-biggest outsourcing center after India, are embracing artificial intelligence - and it’s radically changing what it looks and sounds like to work there.
On today's Big Take Asia Podcast, host Rebecca Choong Wilkins demos the Sanas AI app and talks to Bloomberg's Saritha Rai about the industry's rapid transition and what it might mean for workers around the world.
Read more: The World's Call Center Capital Is Gripped by AI Fever — and Fear
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Powell Says Rates Are Coming Down: How Low Will They Go?
The time has finally come for a rate cut. That was the takeaway of Fed Chair Jerome Powell's remarks in Jackson Hole on Friday when he let the world know to expect a cut at the next Fed meeting in September.
Bloomberg’s Mike McKee joins host Sarah Holder from Jackson Hole to discuss what that cut could look like — and what it would mean for the economy, the US election and the American consumer.Read more: Powell’s Pivot Leaves Traders Debating Size, Path of Rate Cuts
Listen more: The Federal Reserve's Tricky Economic and Political Terrain
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Harris and Trump Make Their Case to Black Voters
For decades, the Democratic Party has counted on support from Black voters. But former President Donald Trump has tried to leverage voter dissatisfaction with Democrats to bite into the party’s edge with that key demographic. And for a while, it seemed to be working – until the first Black woman to lead a major presidential ticket shook up the race.
On today’s Big Take DC podcast, host Saleha Mohsin hears from voters and speaks to Bloomberg reporters Akayla Gardner and Hadriana Lowenkron about how Vice President Kamala Harris’ campaign has flipped the script for Trump, and for Democrats attempting to reverse President Joe Biden’s losses with Black Americans who were key to his win in 2020.
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Inside Southeast Asia’s Most Notorious Crime Hub
A Chinese businessman persuaded officials to establish a special economic zone in a remote part of Laos. The gamblers arrived first. Then came the drug runners, human traffickers and scammers.
On today’s Big Take Asia podcast, host K. Oanh Ha speaks with Bloomberg Businessweek editor Matt Campbell about his investigation into the Golden Triangle Special Economic Zone and how it became a criminal’s paradise.
Read more: Dodge City
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Has Burning Man Burned Out?
For the first time in more than a decade, Burning Man has not sold out.
The gathering prides itself on its counter-cultural roots, and draws tens of thousands of people to the Nevada desert every year for a week of art, music and adventure. But it’s also gradually moved further into the mainstream, becoming a rite of passage for a certain set of Silicon Valley elites. Whether it’s because of last year’s rain, economic strains, or something deeper, one thing is clear: this year, demand for Burning Man tickets is down.
On today’s Big Take podcast, Bloomberg technology reporter Ellen Huet joins host Sarah Holder to grapple with a burning question: has Burning Man peaked?
Read more: Has Burning Man Peaked?
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80% of What We Buy Goes Through Ports. They’re Changing, Fast
Ports often make the news when they break: like the bridge collapse that shut down Baltimore's port earlier this year. But every day, ports in cities around the world keep supply chains humming and feed local economies; every year, they help move 80% of the things we buy.
As conflicts between world powers intensify, ports are also the latest battlefields where geopolitical power is won and lost. On today’s episode, Bloomberg’s Brendan Murray tells host Sarah Holder how ports, from Belgium to Peru, are becoming strategic sites for countries to defend their interests. And why trillions of dollars are on the line in order to make these ambitions happen on time.
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What Would It Take to Rebuild Gaza?
After ten months of fighting in the Gaza Strip, Israel and Hamas could be close to a cease-fire deal. As of Monday afternoon, US Secretary of State Antony Blinken said that Israel had agreed to a cease-fire proposal. Hamas had yet to officially respond.
If an eventual deal is achieved… the question becomes: How could the Gaza Strip rebuild?
On today’s Big Take podcast, Bloomberg reporters Fares Alghoul, Fadwa Hodali, and Dan Williams take stock of the international cooperation — and money — it would take to reconstruct Gaza and how the future leadership of the Strip could complicate this already monumental task.
Read more: Gaza Reduced to 42 Million Tonnes of Rubble. What Will It Take to Rebuild?
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ETFs, Explained
There is nearly $13 trillion invested in exchange-traded funds, or ETFs. ETFs that mirror the S&P 500. ETFs for gold. ETFs for bitcoin. There’s even a Vegan ETF. How did this market get so big and varied? And just what goes into one?
On today’s podcast, our Bloomberg Explains series continues with Bloomberg Intelligence senior ETF analyst and co-host of the Trillions podcast Eric Balchunas. He tells host David Gura about the unlikely duo who created the first-ever ETF in a last-ditch bid to save a struggling exchange. And Bloomberg ETF IQ and Money Stuff co-host Katie Greifeld breaks down the current booming market, and outlines which ETFs are safe investments – and which are better left alone.
Further listening: Trillions Podcast - Bloomberg, Money Stuff - Bloomberg
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The US Election Could Hinge on Seven State Economies
Seven key states will play an outsized role in determining the outcome of the 2024 US election. A new analysis from Bloomberg found that as a group those states’ economies pose a challenge for Kamala Harris and an opening for Donald Trump.
On today’s Big Take DC podcast, host Saleha Mohsin goes inside this “battleground economy” with Bloomberg senior writer Shawn Donnan and hears directly from voters on how this economic reality is influencing the communities that will choose between Trump and Harris.
Read more: The Swing-State Economic Realities Shaping the US Election
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Goodbye Sicily, Hello Sarasota. The Post-Pandemic Travel Boom Is Over
That White Lotus-inspired trip to Sicily. The Instagram-perfect Joshua Tree glamping holiday. A party weekend in Miami. Ever since the first lockdown restrictions were lifted in 2021, Americans have been spending big on travel. But a recent slew of weak earnings from companies like Delta and Expedia suggest that the post-pandemic travel boom is finally over.
In today’s episode, Bloomberg tech reporter Natalie Lung tells host Sarah Holder that from airlines to Airbnb, companies are reporting weaker-than-expected demand for summer travel. So does that mean now is the perfect time to book a last-minute vacation? Depends on where you’re game to go.
Read more: Flights, Hotels and Parks Are All Flashing Travel Warning Signs
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After a Deadly Student Uprising, Bangladesh Starts Over, Again
After weeks of protests and a brutal crackdown that led to several hundred deaths, Bangladesh’s Prime Minister Sheikh Hasina was forced to step down and flee the country, putting an abrupt end to her more than 15 years in power. Stepping into the leadership vacuum is Nobel Prize-winning economist Muhammad Yunus, who we spoke to last month -- when he was facing charges that his supporters said were trumped up by Hasina.
Today on The Big Take Asia, host K. Oanh Ha speaks to Bloomberg’s Kai Schultz about what drove the student-led uprising and Hasina’s downfall, Yunus’s surprising turn to politics, and what’s at stake for one of Asia’s most promising economies.
Read more:
Yunus Cleared in Graft Case After Becoming Bangladesh Leader
Further listening:
Why This Nobel Prize Winner Faces Life Imprisonment in Bangladesh
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Want Money From the Middle East? There Are New Strings Attached
The sovereign wealth funds of the Persian Gulf used to be relatively easy places for US firms like Blackstone and Goldman Sachs to raise money. But recently, the power dynamics between Wall Street and Middle Eastern wealth fund managers have been shifting.
On today’s Big Take podcast, Bloomberg’s Heather Perlberg breaks down for host David Gura why Middle Eastern sovereign wealth funds are asking for more in return for access to their trillions — and what that means not only for investors but also the future of the region.
Read more: Middle East Trillions Force New Concessions From Wall Street
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Why Is Everybody Still Getting Sick All The Time?
Have you had the flu recently? Or RSV? Or just... some bug that you can’t quite shake? If so, you’re not alone. Bloomberg’s data team recently decided to investigate whether or not the perception that we’re all getting sick all the time is actually backed up by numbers. And what they found was truly surprising: in countries around the world, people are getting much sicker, much more often in the wake of the pandemic.
We’re re-upping this episode, which originally aired on June 14, because – surprise – everyone’s still getting sick. Listen as host Sarah Holder and Bloomberg data reporter Jinshan Hong try to solve the global health mystery – including the potential culprits behind the surge in sickness and what we can do to avoid getting ill so often.
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Are We in a Recession? The Sahm Rule Says Yes. Its Creator Says Not So Fast
On today’s Big Take podcast, economist Claudia Sahm explains the Sahm rule: how she came up with the idea, whether or not we’re in a recession, and why she wishes it was called something else.
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Welcome to Ozempictown, USA (No, It’s Not Hollywood)
What happens when new weight-loss drugs like Ozempic transform a community? Bloomberg healthcare reporter Madison Muller went to Bowling Green, Kentucky to find out. That area has one of the highest concentrations of weight-loss drug prescriptions in the US.
On today’s Big Take podcast, we explore what that means for people who live there, how these drugs are reshaping the local economy, and what it could look like in other places when Ozempic comes to town.
Read more: What Happens When Ozempic Takes Over Your Town
Listen more: Are Cheaper Ozempic Knockoffs Safe?
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$200 Billion, Four Heirs And One Mighty Empire
Gautam Adani, the controversial Indian billionaire, gathered his two sons and two nephews for a family lunch one day and asked them a bombshell question: Did they want to carve up the Adani Group’s sprawling businesses between themselves or stick together? He gave them three months to decide.
Today on The Big Take, host K. Oanh Ha talks to Bloomberg editor Anto Antony about the Adanis’ ambitious succession plan, in the wake of regulatory probes and a daring short-seller attack. We also hear from the Adanis themselves on their vision of an Adani Group without Gautam at the helm, how they’ll make decisions to manage an empire – which spans everything from airports to solar farms – and what's at stake for India’s $3.5 trillion economy.
Read more: Adani Unveils $213 Billion Succession Plan as Scrutiny Persists
Further listening: The Rise of Modi: Why India’s Leader Is So Popular – and Polarizing
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What’s Behind the Global Market Meltdown
On Wall Street, the S&P 500 had its worst day in nearly two years and the Dow Jones Industrial Average shed over 1,000 points. Shares on Japan’s Nikkei Index fell by over 12% — their worst showing since Black Monday in 1987. Cryptocurrencies dropped, bond yields rose and the VIX, known as the fear index, saw its biggest one-day spike in more than 30 years. Is the Fed to blame? AI over-exuberance? Warren Buffett?
On today’s episode, Bloomberg columnist John Authers walks host David Gura through the global market meltdown: what triggered it, how long it could last, and when to panic.
Read more: $6.4 Trillion Stock Wipeout Has Traders Fearing ‘Great Unwind’ Is Just Starting
Further listening: Why the Market’s Big Tailwinds Are Coming to an End
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The Threat of AI-Made Bioweapons
In April of 2023, a man carrying a small, black box walked into one of the nation’s most secure buildings, right next to the White House. In the box were ingredients that could be used to create a bioweapon. What the man revealed about how he got his hands on these ingredients was even scarier: an AI chatbot had given him the recipe.
On today’s Big Take, host David Gura speaks to Bloomberg healthcare reporter Riley Griffin about why that stunt alarmed White House officials and woke them up to the potential dangers of AI-made bioweapons.
Read more: AI-Made Bioweapons Are Washington’s Latest Security Obsession
Further listening:
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Ghost Jobs Are Haunting the Labor Market
If you’ve applied to a job and never heard back, you may have fallen prey to a ghost job — an online listing for a role that never actually existed.
Ghost jobs aren’t just leaving job seekers frustrated. They’re also muddying the waters of the labor market when it comes to assessing the strength of the economy.
On today’s Big Take podcast, Sarah Holder digs into the ghost job phenomenon with Molly Smith, an editor on Bloomberg’s US economy team.
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How Companies Gamed the H-1B Visa Lottery
Each year in April, the US conducts a lottery that shapes the lives of hundreds of thousands of people. And each year, only around 85,000 are granted an H-1B visa for highly-skilled workers. With skyrocketing application numbers, the odds of winning have only gotten slimmer. But new data obtained by Bloomberg News has revealed how certain companies have manipulated the system, gaining an advantage over people who play it fair. In other words, the game was rigged.
On today’s Big Take podcast, host Sarah Holder speaks to investigative journalists Eric Fan and Zachary Mider who explain how outsourcing companies and staffing firms exploited loopholes in the H-1B system to get extra shots at the lottery.
Read more: How Thousands of Middlemen Are Gaming the H-1B Program
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Japan’s Small Businesses Have a Problem. They Don’t Know How to Raise Prices
Costs are rising in Japan and small businesses risk being squeezed into oblivion if they don’t figure out how to raise their prices. After decades of deflation, many small Japanese companies are out of practice on exactly how to do it.
Today on The Big Take Asia, host Rebecca Choong Wilkins talks to Bloomberg senior editor Reed Stevenson about a class he visited where people are relearning the long-lost skill of negotiation, and what a failure to raise prices at these small businesses – which make up 90% of the economy – could mean for Japan’s future.
Read more: BOJ to Cut Bond Buying as Fate of Rate Policy Stirs Jitters
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Behind Trump's Pledge to Make America the "Crypto Capital"
This past weekend, Donald Trump became the first American president to address a crypto conference, telling an audience in Nashville that “if Bitcoin is going to the moon, I want America to be the nation that leads the way.” It’s a stark contrast from five years ago, when Trump said Bitcoin’s value was based on “thin air.” Is his conversion from crypto skeptic to crypto cheerleader real – or just a canny attempt to get donations?
On today’s podcast, host David Gura speaks to Bloomberg investigative reporter Zeke Faux about the surprising opinions he heard on-the-ground at the world’s biggest Bitcoin conference – and what that could mean for the future of the 2024 presidential election.
Read more: Trump Became Crypto Believer After Falling in Love With NFTs of Himself
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Wall Street’s Great Rotation
For most of this year, US markets were hitting fresh highs and investors were giddy about the potential of AI to make the world’s biggest tech companies even more profitable. Then, the picture changed. Welcome to the Great Rotation.
On today’s Big Take podcast, host Sarah Holder speaks to Bloomberg cross-asset reporter Isabelle Lee about what’s behind the investor move from the Magnificent Seven tech firms into smaller companies — and what role, if any, recent US political turmoil is playing in investors’ expectations about the rest of the year.
Read more: Markets Tear Up Popular Trades That Reached ‘Stupid Levels’ and Stocks Caught in Tug of War Between Tech and Rest: Markets Wrap
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On US Trip, Netanyahu Covers His Bases
Israeli Prime Minister Benjamin Netanyahu’s trip to DC was set to be high-stakes, as he arranged to meet with President Biden and former President Trump. But Vice President Kamala Harris’s candidacy complicated an already delicate balancing act.
On today’s Big Take DC podcast, host David Gura speaks with Israel bureau chief Ethan Bronner and national security reporter Nick Wadhams about what’s at stake for each of these leaders, the latest prospects for a cease-fire deal between Israel and Hamas, and how November’s election could reshape the US-Israel relationship.
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Why You’ll Want to Know How Your Nurse Practitioner Was Trained
Americans are more and more likely to get health care not from doctors, but from nurse practitioners. It’s one of the fastest-growing professions in the US — and the number of nurse practitioners in the country is expected to climb 45% by 2032. But training for the booming profession has never been standardized, and some students worry they’re not being set up for success.
On today’s Big Take podcast, host Sarah Holder talks to investigative reporters Caleb Melby and Polly Mosendz about what the rapid rise of nurse practitioners has meant for their education — and their patients.
Read more: The Miseducation of America’s Nurse Practitioners
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Are Cheaper Ozempic Knockoffs Safe?
Cheaper, knockoff versions of Ozempic, Wegovy and Zepbound are flooding the market, often promoted by telehealth companies in online ads and by influencers on TikTok and Instagram. These versions of the drugs are made by so-called compounding pharmacies, an obscure corner of America’s pharmaceutical market which makes drugs that aren’t approved by the Food and Drug Administration.
On today’s Big Take podcast, Bloomberg reporters Ike Swetlitz and Madison Muller tell host Sarah Holder about their investigation into a $1 billion shadow industry that could be putting Americans’ health in danger.
Read more: Unsafe Ozempic Knockoffs Are Flooding the Market
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Roblox: The Gaming Platform With a Predator Problem
With tens of millions of users under the age of 13, Roblox has become the biggest online gaming playground for kids. The company says its combination of AI chat filters and human moderators makes the platform safe for users of all ages. But a Bloomberg Businessweek investigation suggests that Roblox may have striking vulnerabilities.
On today’s Big Take podcast, host David Gura speaks with reporters Olivia Carville and Cecilia D’Anastasio about the way predators have used the platform to groom children — and what Roblox is doing to keep young users safe.
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Biden Stepped Down. Will Democratic Donors Step Up?
Joe Biden’s decision not to run for reelection leaves the Democratic nominee that replaces him with an unprecedented challenge: running a successful presidential campaign in under four months. That will take a lot of money.
On today’s Big Take podcast: How much could that campaign cost? Gregory Korte and Laura Davison, who cover money and politics for Bloomberg, dig into that question, Kamala Harris’s fundraising edge and how Democratic donors are reacting to the news.
Read more: Joe Biden Bows to Democrats Who Wanted Him Out, Upending US Politics
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K-Pop’s Plan for Global Dominance? Remove the K
Is K-pop even K-pop without the K? A Bloomberg analysis of song lyrics shows that for the first time, almost half of K-pop songs released this year have English lyrics.
On today’s podcast, host Sarah Holder speaks with Bloomberg reporter Sohee Kim about the genre’s identity shift and why industry efforts to grow its global audience might mean fewer Korean band members.
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Silicon Valley’s Shift to the Right
Republican presidential nominee Donald Trump’s pick of Senator JD Vance as his running mate has many in Silicon Valley rejoicing — they see the former venture capitalist as one of their own. With Elon Musk’s commitment of $45 million a month to a super-PAC supporting the Trump campaign, it's the latest sign of Silicon Valley elites embracing the MAGA movement.
But the tech world hasn’t always embraced Trump. On today’s Big Take podcast, Bloomberg Businessweek columnist Max Chafkin joins host David Gura to talk about how we got here and what their support could mean for another Trump term.
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Why This Nobel Winner Faces Life In Prison In Bangladesh
Nobel Peace Prize-winning economist Muhammad Yunus pioneered micro loans as a tool to fight poverty. Now prosecutors in Bangladesh have linked him and his colleagues to a dizzying number of crimes, including embezzlement and laundering millions of dollars.
Today on The Big Take, host K. Oanh Ha speaks to Bloomberg’s Kai Schultz about the complicated saga and what implications Yunus’s case has for Bangladesh, one of the fastest growing economies. We also hear from Yunus himself, who talks about the rift between him and Prime Minister Sheikh Hasina, and the personal impact of the legal drama.
Read more:
Bangladesh Sentences Nobel Peace Prize Winner to 6 Months in Prison
Big Money Backs Tiny Loans That Lead to Debt, Despair and Even Suicide
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Donald Trump Sits Down With Bloomberg Businessweek
Former President Donald Trump accepted the Republican nomination at the party’s convention this week, just two days after an attempted assassination at a campaign rally over the weekend. Prior to that attack, and shortly before his first debate with President Joe Biden, Trump laid out his vision for a second term in a wide-ranging, 90-minute interview with journalists from Bloomberg Businessweek.
Reporter Nancy Cook and editor Brad Stone take host David Gura inside that conversation, where they dig into “Trumponomics,” how Trump plans to appeal to voters and business leaders who have turned their backs on him.
Read more:
Corrects length of Powell’s term as chair of the Federal Reserve.
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The Trump Shooting Changes Everything About 2024
On Saturday evening, former President Donald Trump was injured in an assassination attempt during a campaign rally in Pennsylvania. Even in a country with a history of assassinations and attempts, it is unprecedented.
Bloomberg national politics reporter Gregory Korte and senior editor Wendy Benjaminson join hosts Saleha Mohsin and Sarah Holder to discuss how the assassination attempt changes everything in the 2024 election - and how political violence has previously shaped America.
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Pulling Off a Rare Olympic Feat in Paris: Turning a Profit
Ever since the first Olympics were held over a century ago, the Games have been known for dazzling sporting feats…and dazzlingly expensive opening ceremonies. Recently, the ballooning cost of hosting the Games has led residents in Boston, Rome, and Oslo to reject efforts to bring the Olympics to their cities. As a result, the International Olympic Committee is hoping to rein in costs – starting with Paris.
On today’s podcast, host Sarah Holder speaks with Bloomberg reporter Hugo Miller about the lessons Paris 2024 is trying to take from the first and only profitable Olympics held in Los Angeles in 1984 – and why no less than the future of the Games is at stake.
Read more: Faster, Higher — Cheaper? Paris's Budget Effort to Reboot the Olympics
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Biden’s Fight to Get Back in the Game
The fallout from President Joe Biden’s debate performance is continuing to ripple through Washington, as prominent Democrats, donors, and world leaders are questioning his ability to win… and to lead.
As US allies converge on Washington for the NATO summit and Congressional Democrats scramble for unity, all eyes are on Biden. Big Take DC host Saleha Mohsin talks with Bloomberg White House and politics reporter Jordan Fabian about what’s at stake for Biden in yet another make-or-break week.
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Scrappy Drone Startups Are Transforming Ukraine’s Frontlines
A growing number of Ukrainian entrepreneurs, engineers and tech workers are joining the war effort against Russia, making and delivering a key tool: drones. They’re low-cost, high-impact and can do everything from transporting supplies to dropping bombs across enemy lines.
On today’s Big Take podcast, Bloomberg Technology editor Jake Rudnitsky talks with host Sarah Holder about the burgeoning cottage industry that’s transforming the battlefield in the Russia-Ukraine war – and what the shift to drone warfare could mean for conflicts around the world.
Read more: Ukraine Is Fighting Russia With Toy Drones and Duct-Taped Bombs
Further listening:
- Zelenskiy Talks Trump, Biden and US Election
- Ukraine’s Frontline Fight Is Changing How the US Prepares for War
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The Chinese Coffee Chain Beating Starbucks
China’s Luckin Coffee is the nation’s top coffee retailer, overtaking even Starbucks. That would be notable itself, but less than 4 years ago the company filed for bankruptcy, making its comeback even more unlikely. The turnaround is in part thanks to the chain’s automated stores, cut-price deals and innovative drinks that appeal to local tastes.
Today on The Big Take Asia, host K. Oanh Ha speaks with Bloomberg’s Rachel Chang on how Luckin managed to turn around its failing business to overtake Starbucks, and asks whether it can hold on to its success as coffee takes off in China, and more rivals emerge.
Read more: China’s Luckin Coffee Is Back From the Brink and Beating Starbucks
Further listening: What Does China’s Economic Slowdown Mean For the Communist Party?
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The Lesson From French and British Elections: Incumbents Beware
French voters shocked the world on Sunday by rejecting Marine Le Pen’s efforts to see her far-right National Rally party take control of France’s legislature. And across the channel in Britain, a new government is set to enter parliament on Tuesday after voters last week gave the country’s left-leaning Labour Party a majority.
On today’s Big Take podcast, host David Gura discusses the reaction to the surprise result in France with Bloomberg Opinion columnist Lionel Laurent, and Bloomberg’s Head of Economics and Government Stephanie Flanders breaks down why the landslide victory for Keir Starmer and Britain’s Labour Party isn’t necessarily as clear-cut as it might seem.
For more, listen to Bloomberg’s “Voternomics” podcast.
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A Conversation With Zelenskiy: Trump, Biden and What’s at Stake for Ukraine
With the US presidential election on the horizon and no end in sight to the Russia-Ukraine war, Bloomberg’s Annmarie Hordern sits down with Ukraine President Volodymyr Zelenskiy for an exclusive interview. They discuss where the conflict stands now, what it would take to secure a peace deal and a possible end to the war – and Zelenskiy’s thoughts after watching the US presidential debate.
On today’s Big Take podcast, Bloomberg’s lead on national security coverage Nick Wadhams sits down with host Sarah Holder to analyze the most important moments from the Zelenskiy interview and game out what the outcome of the US election could mean for the future of Ukraine.
Watch the full interview: Zelenskiy on Putin, Russia Cease-Fire Prospects, Trump and US Election
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Will Kamala Harris Replace President Biden?
In the fallout from Biden’s performance in the first presidential debate, a leading name has emerged as the president’s natural replacement: Vice President Kamala Harris.
White House and politics reporters Akayla Gardner and Gregory Korte join Big Take host Sarah Holder to unpack why the calls for a Harris candidacy are surfacing now, her access to Biden’s war chest and who else could be a contender.
Read more: Kamala Harris Is Having a Surprise Resurgence as Biden’s Campaign Unravels
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How Hackers Held the Car Industry Hostage
The car sales industry in North America ground to a halt in mid-June after sophisticated cybercriminals took down CDK Global, the software provider with a near-monopoly on the industry. It caused chaos in the middle of one of the biggest seasons for car-buying. Dealers couldn’t access their inventory. Buyers couldn’t get cars off the lot. And customers feared for their personal data.
On today’s Big Take podcast, Bloomberg senior technology editor Dana Wollman and host Sarah Holder discuss what getting back to normal for dealerships might look like, how the group of hackers behind the shutdown operate, and why industries that rely on centralized software systems — from education to healthcare — are vulnerable.
Read more: BlackSuit Cybercrime Gang Blamed in CDK Hack That Roiled Car Dealers
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Why China’s Investment Bankers Are Breaking Up With Capitalism
One after another, bankers at China International Capital Corporation — China’s premier investment bank – are pledging loyalty to the Communist Party, underscoring a new reality for Wall Street-style capitalists in the era of Xi Jinping.
Today on the Big Take Asia, host David Gura speaks with Bloomberg’s Cathy Chan about the tug-of-war between communism and capitalism at the “Morgan Stanley of China,” and how politics are redefining Chinese finance.
Read More: China’s Investment Bankers Join the Communist Party as Morale (and Paychecks) Shrink
Further listening: What Does China’s Economic Slowdown Mean For the Communist Party?
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Forget Sleep. Who’s Ready to Trade All Night?
There is a growing push from retail traders, international investors, and a few big hedge funds to do something once unthinkable: keep stock markets open for 24 hours a day, 7 days a week. But when do traders sleep if Wall Street never shuts?
On today’s Big Take podcast, Bloomberg finance reporter Katherine Doherty joins host Sarah Holder to break down what’s behind the growing demand for after-hours trading on platforms like Robinhood, whether regulators will ever approve such a move, and what happens to the opening bell if the New York Stock Exchange never closes.
Read more: 24-Hour Stock Trading Is Booming – and Wall Street Is Rattled
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Democratic Panic Follows the First 2024 Presidential Debate
From big questions about Biden’s performance that have sent Democrats into panic over whether he should be on the ticket to Trump’s misleading statements on January 6th, the first 2024 US presidential debate may have been billed as a rematch, but it was full of surprises.
Inside the spin room in Atlanta, Big Take host David Gura talks to Bloomberg senior politics editor Wendy Benjaminson and politics reporter Stephanie Lai to dig into those moments, discuss what the candidates said about inflation, taxes and immigration, and what it all means for the rest of the campaign cycle.
Read more: Panicked Emails, Gallows Humor: The Aftermath of Biden's Debate Disaster
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The ‘Upflation’ Formula: Halve the Ingredients, Double the Price
You’ve probably felt the pain of inflation. And you’ve also probably heard about shrinkflation — when companies respond to inflation by keeping their prices steady and making their products smaller. But have you heard of ‘upflation’?
It’s a new tactic consumer goods brands are using to get people shopping again. From whole-body deodorant to more genres of razor, companies are tweaking everyday essentials and jacking up the price. On today’s Big Take podcast, Bloomberg consumer goods reporter Leslie Patton tells host Sarah Holder where to spot upflation in the wild – and how to avoid paying extra for everyday products.
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Hong Kong: Five Years After Anti-China Protests
Four years after Beijing imposed a national security law on the city, Hong Kong continues to serve as an important financial hub connecting mainland China with the rest of the world. But beneath the surface, the consequences of the crackdown are far-reaching.
Today on the Big Take Asia, ahead of the 27th anniversary of Hong Kong’s handover to China, host K. Oanh Ha speaks with Bloomberg’s China editor Alan Wong about how Beijing is reshaping Hong Kong, its impact on the city’s residents and what that means for Hong Kong’s future.
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Inside Billionaire Bernard Arnault’s Business Playbook
LVMH has a sprawling portfolio of brands synonymous with luxury: Christian Dior, Louis Vuitton, Fendi, Bulgari, Celine, Tiffany & Co., Hennessy and Veuve Clicquot. Its CEO, Bernard Arnault, almost never speaks to journalists and doesn’t have the name recognition of the likes of Jeff Bezos or Elon Musk, but regularly vies with them for the title of richest person in the world and has an almost impossible-to-measure influence over the business world.
Bloomberg Businessweek’s Brad Stone and reporter Angelina Rascouët recently landed a rare interview with Arnault, where they learned how he built his empire from the ground up. And they consider a burning question: At 75 years old with five grown children in the business, what are his plans for succession?
Read more: The House of Arnault
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AI’s Insatiable Needs Wreak Havoc on Power Systems
AI data centers are huge energy black holes, consuming as much energy as 30,000 homes – and their rapid growth is straining global grids. The numbers are astonishing: Sweden could see power demand from data centers roughly double over the course of this decade. In the UK, AI is expected to suck up 500% more energy over the next decade. And in the US, data centers are projected to use 8% of total power by 2030, up from 3% in 2022.
On today’s podcast, host David Gura and Bloomberg reporter Josh Saul discuss just what these insatiable AI data center power needs mean for local communities, energy prices, and efforts to switch to renewables to combat climate change.
Read more: AI is Already Wrecking Havoc on Global Power Systems
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Wall Street by Day, Waterdog by Night: The Double Life of a Professional Lacrosse Player
What do Robert Kraft, Kevin Durant and Joe Tsai – owner of the Brooklyn Nets – all have in common? They’ve decided to go big on a new professional sport: lacrosse. Historically popular in East Coast colleges and prep schools – with a strong Canadian presence – these days, the Premier Lacrosse League is hoping to broaden its appeal to anyone looking for something other than baseball to watch during the summer.
On today’s episode, Philadelphia Waterdogs players Jake Carraway and Ryan Conrad on what it's like to juggle working on Wall Street during the week and playing lacrosse on the weekends and PLL founder Paul Rabil on his ambitious plans to emulate the success of the UFC. And host David Gura and Bloomberg reporter Bailey Lipschultz discuss what PLL’s story can tell us about other efforts to turn sports like cornhole and pickleball into big-money professional leagues.
Read more: Wall Street Bankers Skip Hamptons Summer for Pro Lacrosse League
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The US Housing Affordability Crisis, Explained
The long tail of the Great Recession and the aftermath of the pandemic have resulted in a major housing affordability crisis in the US — and it’s hitting everyone from homeowners to renters.
Today, Big Take DC host Saleha Mohsin digs into how we got here and whose problem it is to fix. She’s joined by Shaun Donovan, the secretary of Housing and Urban Development during the fallout of the 2008 financial crisis, and by Daryl Fairweather, a chief economist at Redfin.
Read more: Mortgages Stuck Around 7% Force Rapid Rethink of American Dream
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Inside the Hedge Fund Boot Camps Creating Star Traders
As the $4.3 trillion hedge fund industry has boomed and competition for talent has intensified, firms are turning to a new strategy to get ahead: in-house boot camps. The goal is to mold promising new hires into future superstar traders.
Today on the show, Bloomberg’s Nishant Kumar joins host Sarah Holder to discuss what goes on inside these training programs — and what their rise means for the future of the industry.
Read more: Hedge Fund Talent Schools Are Looking for the Perfect Trader
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The Big Takeaways From Europe’s Far-Right Shift
France’s President Emmanuel Macron shocked the world and sent tremors through global stock markets last week with his decision to call a snap election. The move was prompted by a stronger-than-expected showing by Marine Le Pen’s far-right National Rally party in European Union elections. Now, EU politicians are worried about the potential of another Brexit-style crisis that could plunge the continent’s second-largest economy into gridlock.
On today’s podcast, host David Gura speaks to Bloomberg Opinion columnist Lionel Laurent about what’s behind the strength of the far-right not just in France, but across the EU – and what this rightward shift means for relations between Europe and the US in a pivotal election year.
Further Listening: To find out what the rise of the far-right means for the left in Europe, check out the latest episode of the Bloomberg series Voternomics, “How the Left Lost Its Way in Europe” on Apple Podcasts, Spotify or wherever you get your podcasts.
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The Dirty, Deadly Price We Pay for Clean Cars
Indonesia’s nickel business is booming. The metal is a key component in electric car batteries, but its success has a dark side: the country’s nickel mines and processing plants have a history of fatal accidents, with workers being run over by forklifts and burnt to death in smelter fires.
Today on The Big Take Asia, host Janet Paskin speaks with Bloomberg Businessweek editor Matt Campbell about his investigation into the mines. He found that nickel sourced from these plants are present in the supply chain that feeds virtually every major seller of EVs, and is an indispensable part of the car industry’s green revolution.
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Why Is Everybody Getting Sick All The Time?
Have you had the flu recently? Or RSV? Or just … some bug that you can’t quite shake? If so – you’re not alone. Bloomberg’s data team recently decided to investigate whether or not the perception that we’re all getting sick all the time is actually backed up by numbers. And what they found was truly surprising: in countries around the world, people are getting much sicker, much more often in the wake of the pandemic.
On today’s episode, host Sarah Holder and Bloomberg data reporter Jinshan Hong try to solve this global health mystery – including the potential culprits behind the surge in sickness and what we can do to avoid getting ill so often.
Read more: Yes, Everyone Really Is Sick a Lot More Often After Covid
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Gold Bars, a Secret Recording and a Senate Seat Up for Grabs
US politicians just can’t seem to stay out of court. New Jersey Senator Bob Menendez is standing trial for charges that sound like a TV crime drama: alleged bribery, hidden gold bars and a secret FBI recording at a Washington steakhouse. But these allegations don’t just impact Menendez’s career–they could hurt Democrats as they fight an uphill battle to hold onto the Senate.
Big Take DC host Saleha Mohsin talks with Bloomberg legal reporter Patricia Hurtado and Congress editor Megan Scully about the trial’s intrigue and how it could harm the Democratic party’s image.
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Is the Fed Thinking About Inflation All Wrong?
For over a decade, America’s central bank has had an inflation target of 2%. On Wednesday, the Federal Reserve announced that it would keep its main interest rate unchanged in order to try and get inflation to that magic number. But what if the Fed is thinking about inflation all wrong?
On today’s episode, host David Gura talks to Bloomberg’s Managing Editor for US economic policy Kate Davidson about the reasons the Fed introduced an inflation target in the first place, and Bloomberg Opinion columnist Mohamed El-Erian about the risks if the Fed is wrong about this – and who could be hurt the most.
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A New Breed of Scammer Is Targeting Asia's Ultra-Rich
Reports of alleged imposters are cropping up more and more in the family office frenzy in Singapore and Hong Kong. The ultra wealthy use family offices to manage their finances and affairs.
Today on The Big Take Asia, host K. Oanh Ha speaks with Bloomberg investing reporter David Ramli about the secretive nature of the family office industry and why scammers are so hard to spot. Plus, she hears from Medway Investment board director Eric SayWei Neo about how people like him are becoming amateur detectives to try to weed out suspected imposters.
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Dirty, Moldy Factories Tied to Recalled CVS-Brand Drugs
One factory making pain and fever medications for children used contaminated water. Another made drugs for kids that were too potent. A third made nasal sprays for babies on the same machines it used to produce pesticides. A new Bloomberg investigation reveals that big pharmacy chains have used cheaper, independent factories with a history of manufacturing violations to make store-brand drugs that compete with the likes of Motrin and Tums.
Today on the podcast, host David Gura speaks with national health care reporter Anna Edney about her new research into the factories making tainted drugs. She reveals that one pharmacy chain has had nearly double the recalls of its closest competitor – and the loophole that shielded all of these pharmacy chains from liability.
Read more: Dozens of CVS Generic Drug Recalls Expose Link to Tainted Factories
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Low-Tech US Explosives Are Now Crucial to Ukraine’s Defense
As Ukraine’s war against Russia drags on, the country has found itself engaged in the kind of trench warfare that once seemed unthinkable in the modern age. This kind of warfare requires very old battlefield technology — and its tearing through the US’s stockpile.
Today on the show, host David Gura speaks with Bloomberg reporters Billy House and Roxana Tiron about the World War II-era factories in America ramping up production to meet Ukraine’s ammunition needs. And he hears from Ukrainian Sergeant Andrii Shadrin about how this shortage is playing out on the frontlines.
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Biden Took a Stand on Israel. What’s at Stake If It Fails?
While President Biden meets with Europe's leaders this week, he is continuing to push for Israel and Hamas to support a cease-fire proposal. But violence is continuing to escalate on the ground in Gaza, raising questions about what it would take to end the conflict.
Today on the Big Take DC, host Saleha Mohsin speaks with Bloomberg White House correspondent Justin Sink and Israel bureau chief Ethan Bronner about the hurdles facing the proposal and what Biden and Netanyahu might do next.
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New Details About Sam Altman’s Past and What They Mean for OpenAI
The CEO of OpenAI, Sam Altman, has become one of the most prominent leaders in the development of artificial intelligence. But some people – including current and former OpenAI employees – have questioned how trustworthy Altman is, and whether he is doing enough to inform the public about the technology.
On today’s show, Host David Gura is joined by Ellen Huet, host of Bloomberg Technology’s podcast Foundering: The OpenAI Story. Huet spent months talking to people who know Altman, including some of the world’s biggest investors, his mentors and even his sister.
Bloomberg.com subscribers can listen to the entire series of Foundering right now. Connect your subscription to Apple Podcasts for early access.
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A Stunning Election Result in India as Modi and BJP Fall Short
Narendra Modi’s Bharatiya Janata Party lost its majority in India’s parliament. The stunning blow is forcing Modi to rely on allies to form a government for the first time since he stormed to power a decade ago.
On today’s episode of The Big Take Asia, host K. Oanh Ha digs into India’s 2024 general election results with Bloomberg reporter Sudhi Ranjan Sen on the ground in New Delhi. And Milan Vaishnav, senior fellow and director of the South Asia Program at the Carnegie Endowment for International Peace, delves into what the results mean for both India and the world.
Read more: India Election Results
To hear more from Milan Vaishnav listen to his podcast, Grand Tamasha.
To hear more about our coverage of Narendra Modi, listen to our series, The Rise of Modi.
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The GameStop Squeeze and the Demise of the Short Seller
People go to Miami for a lot of reasons including winter sun, Cuban food, retirement. But Bloomberg’s Denitsa Tsekova recently traveled to South Florida for something a little different: Hedge Fund Week. There, she discovered something truly shocking: some of the biggest, boldest short-sellers are abandoning their strategy.
On today’s Big Take podcast, host David Gura speaks to Denitsa about why the rise of meme stocks, a bull market, and increasing regulatory scrutiny are leading some leading investors like Jim Chanos to abandon the strategy that made them famous. And she explains why the demise of these often-reviled investors isn’t necessarily a good thing.
Read more: Short Sellers in Danger of Extinction After Crushing Stock Gains
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The Little-Known Green Rule That Could Increase Prices on Everything From Lipstick to Coffee
A race is on to map millions of farms around the globe – all in the hopes of saving the world’s forests. A new EU deforestation regulation requires companies to prove their goods don’t contain products grown on deforested land. But that’s no easy task. And billions of dollars in global trade are at stake.
On today’s Big Take podcast: Bloomberg Global Food Tsar Agnieszka de Sousa breaks down just what’s in these new rules – and why the price of everything from cocoa to coffee and lipstick to tires could rise.
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Trump’s Historic Guilty Verdict and What It Means for 2024
A New York jury found Donald Trump guilty on all 34 counts of falsifying business records, making him the first former US president to be convicted of a felony.
Bloomberg legal reporter David Voreacos, who has been following the case from inside the courthouse, and Washington Bureau senior editor Wendy Benjaminson join host David Gura to discuss the trial, its historic outcome and how this could shape the rest of the 2024 election cycle.
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Just How Powerful Is the US President?
The US government was built on a system of checks and balances. But there’s always been a tug of war over just how much power the president has — on paper and in practice.
Law professor and author Dan Farber joins Big Take DC host Saleha Mohsin on the powers and limits of the US president, how they’ve evolved since the country’s founding, and what’s at stake if a Commander-in-Chief ignores the office’s unwritten rules and precedents.
Read more: A Hidden Variable in the Presidential Race: Fears of ‘Trump Forever’
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What OpenAI’s Scarlett Johansson Dustup Reveals About AI
Generative AI is back in the news – and not for a good reason. First, OpenAI made headlines after the voice it introduced as part of its latest GPT update sounded eerily like Scarlett Johansson. Then, Google’s newly-introduced “AI Overview” feature started returning some questionable results – like that eating rocks might be good for you, or that cheese can help prevent cavities.
On today’s Big Take, host David Gura speaks to Bloomberg AI reporter Rachel Metz and Bloomberg Opinion columnist Dave Lee to get to the bottom of just what’s been happening in the world of generative AI – and what these latest headlines mean for the way we’re all getting our information now and in the future.
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Will the World’s Biggest Nuclear Power Plant Get a Restart?
All of Japan's 54 nuclear reactors were shut down after the 2011 earthquake and tsunami. As the country's energy needs soar, debate is heating up over whether to bring the world’s largest nuclear plant back online.
On today’s episode of The Big Take Asia, host K. Oanh Ha speaks to Bloomberg reporter Shoko Oda about her visit to the Kashiwazaki Kariwa plant and the challenges to rebooting it.
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Google’s Moonshot Factory Falls Back to Earth
Google’s “moonshot” factory, dubbed “X,” encouraged researchers, engineers and developers to dream big for years – no project was too ambitious or too expensive. But recently there’s been a shift. With the tech boom in the rearview mirror, tightening budgets and the rising popularity of ChatGPT, Google has turned its focus away from chasing longshot inventions to expanding its search engine business and AI operations.
In today’s episode, Bloomberg’s Julia Love tells host Sarah Holder what this means for Google and tech innovation at large.
Read more: Google’s Moonshot Factory Falls Back Down to Earth
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Apartheid’s Long Shadow Hangs Over South Africa’s Election
South Africa is at a turning point. Thirty years after Nelson Mandela rose to power on a platform of equality, peace, and prosperity, the party he headed is facing serious challengers.
In the country’s May 29th election, the African National Congress Party, or ANC, looks poised to lose its outright majority. In today’s episode, host Sarah Holder is joined by Johannesburg-based economic and government affairs reporter Ntando Thukwana to discuss why voters are souring on the ANC – something once unthinkable for the party that lifted the country out of apartheid.
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Who Wins the White House Could Reshape Your Taxes
Trump’s 2017 tax cuts were 30 years in the making. Some expire next year, and a nasty battle is brewing over whether to renew them.
On today’s Big Take podcast, Bloomberg politics editor Laura Davison and Bipartisan Policy Center senior vice president Bill Hoagland join DC host Saleha Mohsin to break down the 2017 tax cuts, what they’ve meant for taxpayers and the US economy, and how a Biden or Trump win could affect their future.
Read more: Ultra-Rich Should Pay to Save Social Security, Swing-State Voter Poll Shows
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The Man Who Ended Password Sharing at Netflix
Netflix is the biggest paid subscription streaming service in the world. But two years ago, its dominance was in question after it reported its first subscriber decline in over a decade. So the company did something radical: it cracked down on password sharing. The man behind the move? Well, he’s now one of the most powerful people in Hollywood.
Meet Greg Peters, the co-CEO of Netflix. Bloomberg’s Lucas Shaw recently sat down with Peters for his first major print profile. He tells host David Gura about Peters’ bold plan to transform Netflix and the way all of us watch everything from TV shows to sports.
Read more: Netflix Had a Password-Sharing Problem. Greg Peters Fixed It
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What Does China’s Economic Slowdown Mean For the Communist Party?
After four decades of unparalleled gains in income and wealth, China’s 1.4 billion have been hit by a series of blows: a real estate collapse, a trade war with the US, and a crackdown on entrepreneurs have stalled the country’s prosperity engine.
On today’s episode of The Big Take Asia, host K. Oanh Ha dives into how China’s slowing economy is affecting people on the ground, and how Beijing is responding to that shift. Ha talks to Bloomberg correspondent Rebecca Choong Wilkins in Hong Kong and Bloomberg’s Chief Economist Tom Orlik.
Read more: ‘Are You Better Off?’ Asking Reagan’s Question in Xi’s China
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What the Death of Iran’s President Means for Global Relationships
The deaths of Iran’s president and foreign minister in a helicopter crash were followed by a declaration of an official mourning period ahead of a new election.
It also has led to new speculation about who is poised to succeed Iran’s supreme leader, which could have regional and global ramifications.
On today’s episode, hosts David Gura and Sarah Holder discuss the fallout of the president’s death with Bloomberg’s Middle East, Europe and Africa news director Rosalind Mathieson and national security editor Nick Wadhams.
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The Stock Market After GameStop (Again)
The meme stock era, led by Keith Gill, aka “Roaring Kitty,” seemed to have come and gone — until this week, when he reemerged on social media. It was enough to send shares in GameStop and AMC on a wild ride again, conjuring memories of 2021’s meme stock mania.
So what’s really going on? On today’s episode, Bloomberg’s Money Stuff columnist Matt Levine schools us in Meme Financial Markets — and breaks down for host David Gura what these wild moves mean for anyone interested in putting money in the stock market.
Read more: GameStop Is Back!?
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Trump’s 2024 Campaign: Smaller, Nimbler, Faster… And at a Courthouse
Team Trump is up against historic criminal trials and a failed reelection bid in 2020. Despite this, his 2024 campaign is organized, frugal – and getting results.
On today’s Big Take podcast, DC host Saleha Mohsin takes stock of the 2024 Trump campaign through the lens of his past two runs, speaking with former White House communications director Anthony Scaramucci and Bloomberg politics reporter Nancy Cook.
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The Restaurants That Don’t Want to Break Up With Gas Stoves
After Berkeley, California, became the first city in the US to ban natural gas in new buildings in 2019, it gained an unlikely opponent: the California Restaurant Association. The industry group sued the city, and kicked off a four-year-plus legal battle that ended with the city backing down. But when Bloomberg’s Ben Elgin started following the money, he found evidence that raised questions about where the association got its support.
In today’s episode, host Sarah Holder speaks with Elgin about the fight against California gas bans and how gas companies are planning to leverage that victory nationally.
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The Rise of Modi, Part 2: How India’s Leader Came Back From the Brink
In 2002, Narendra Modi was facing the biggest political crisis of his career. But in the aftermath of riots that left more than 1,000 people dead – most of them Muslims – he saw an opportunity to turn his fortunes around. He would go on to become one of the most powerful leaders India has seen in decades.
Host K. Oanh Ha, Bloomberg’s Sudhi Ranjan Sen and author Nilanjan Mukhophadyay trace how Modi and his government have been able to transform India into one of the fastest-growing economies in the world.
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The Rise of Modi, Part 1: Why India’s Leader Is So Popular – and Polarizing
Narendra Modi is arguably the world’s most popular politician. With nearly 1 billion Indians eligible to vote in a six-week election that concludes on June 4, Modi and his party are expected to win a majority for the third time in a row and extend their decade in power.
But there are also concerns over human rights and religious and press freedoms that many political leaders, CEOs and bankers in the West appear willing to overlook. On our first episode of The Big Take Asia, host K. Oanh Ha and Bloomberg’s Sudhi Ranjan Sen chart how Modi built up so much power over the last several decades – and why he is both a beloved and divisive figure.
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Emmanuel Macron’s Plan to Transform Europe
When he was first elected to lead France in 2017, President Emmanuel Macron promised nothing less than a revolution. Since then, he’s pushed through controversial pension reforms, slashed taxes, and made it easier for French companies to fire employees. Now, he’s setting his sights beyond France.
On the sidelines of the Choose France summit in Versailles, Macron speaks to Bloomberg editor-in-chief John Micklethwait about his bold plan to transform Europe. And he issues a stark warning about what could happen if Europe’s economic growth fails to keep up – not just for the continent, but for global security.
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The Startups Trying to Save Us From Space Junk
There are more than 100 million pieces of space trash — defunct satellites, rocket parts, dead batteries — all floating around in Earth’s orbit.
That can pose a problem in space, of course, but it’s an even bigger one when these objects re-enter the atmosphere and crash down to Earth.
On today’s episode, host David Gura speaks with Bloomberg’s space reporter Bruce Einhorn about the startups racing to clean up space, and with a Florida homeowner who found out the hard way that this problem isn’t as far away as it seems.
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It’s About to Get Hot. Small Businesses Will Pay the Price
The National Weather Service is predicting that vast swaths of the US will see above-average temperatures this summer. That’s weighing on the wallets of small businesses across the country, who already operate on thin profit margins.
On today’s Big Take podcast, DC host Saleha Mohsin does the math on this economic hit, hears from business owners trying to weather it, and unpacks what the government could do about it with Bloomberg economics reporter Catarina Saraiva.
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Tim Cook Won’t Be Apple CEO Forever. Who’s Next?
Tim Cook picked up the mantle from Steve Jobs as CEO of Apple over a decade ago and grew it into a multi-trillion dollar company. Now, as Cook nears traditional retirement age, speculation abounds about who will succeed him.
Bloomberg’s Mark Gurman joins host David Gura to discuss the challenges of replacing Cook, his potential successors and how that decision will impact one of the best-known brands in the world.
Read more: Tim Cook Can't Run Apple Forever. Who's Next?
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Americans Are Spending Billions With ‘Buy Now, Pay Later’
“Buy Now, Pay Later” options have exploded in popularity and availability, and in the midst of stubborn inflation, Americans are even using them to buy essentials like groceries.
But not all of the BNPL providers report data like credit card companies — and no one knows exactly how much debt consumers owe.
On today’s episode, host Sarah Holder talks to reporters Paulina Cachero and Paige Smith, who tried to find out more about the size and scope of the debt.
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The Man Who Lost $36 Billion in a Week
Bill Hwang amassed a fortune of $36 billion on Wall Street through his family office, Archegos Capital Management. But over the course of one week in 2021, the firm imploded. Federal prosecutors have since charged Hwang with 11 criminal counts, including securities fraud, wire fraud and racketeering.
Today, Bloomberg’s Sridhar Natarajan and Kathy Burton join host David Gura to discuss Hwang’s rise and fall and why his trial promises to be one of the biggest, and most interesting, in the history of Wall Street.
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A Billionaire’s Quest to Save a Trillion Trees Is Falling Short
Since 2020, Salesforce CEO and co-founder Marc Benioff has been on a mission to plant and preserve one trillion trees. The idea behind his initiative, 1t.org, is simple: A tree is good at taking carbon dioxide out of the environment. And more trees mean more greenhouse gas removal.
Four years, millions of dollars, and dozens of pledges from non-profits, NGOs, national governments, and private companies later – how close is Benioff to one trillion trees? Today, host Sarah Holder talks to Bloomberg wealth reporter Sophie Alexander about why a billionaire decided to go all in on reforestation, why the private sector followed, and why the initiative is lagging behind.
Read more: A Billionaire Wanted to Save 1 Trillion Trees by 2030. It’s Not Going Great.
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Warren Buffett’s Hometown Could Decide the US Election
Omaha, Nebraska, is billionaire Warren Buffett’s hometown. A quirk in the state’s election law also means it could wind up deciding the 2024 presidential election.
On this episode, Big Take DC host Saleha Mohsin talks to Nebraska Democratic Party Chair Jane Kleeb and Bloomberg White House reporter Josh Wingrove, who traveled to Nebraska, to understand the fight to secure Omaha’s vote and the possibility of Warren Buffett entering the fray.
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Immigration Is Up. Housing Supply Isn’t.
Canada has seen rapid immigration-fueled population growth in recent years. That’s boosted its economy, but housing production hasn’t kept up. The limited supply and growing demand has exacerbated an existing affordable housing crisis and inspired calls not only to build more, but to impose stricter limits on immigration. A similar dynamic is playing out across advanced economies like Australia and the UK.
On today’s Big Take podcast, host Sarah Holder speaks with Bloomberg’s Randy Thanthong-Knight about the relationship between housing and immigration – and how governments are trying to manage it.
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All the Eyes, Ears and Algorithms Focused On the Fed
At the end of last year, the Chair of the US Federal Reserve hinted at cutting interest rates – staving off an expected recession. It was a welcome surprise for many people watching the markets. Five months into 2024, he’s poised to pivot again.
On today’s Big Take, host David Gura talks with Fed editor Kate Davidson and Bloomberg Economics’ Anna Wong about the Fed’s latest moves and what to expect from this week’s Federal Open Market Committee Meeting.
Further Listening: The Federal Reserve's Tricky Economic and Political Terrain, Explained
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The ‘Silver Tsunami’ Will Test Australia’s Famed Retirement Program
Experts have long held up Australia’s 32-year-old “superannuation” system as the retirement model to follow. But as countries all around the world are bracing for a “silver tsunami” of aging baby boomers, even Australians worry they don’t have enough saved.
Today, host Sarah Holder and Bloomberg’s Amy Bainbridge discuss what makes this system so super — and why it’s still falling short.
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Endowment Funds Are Complicated. Here’s What That Means for Student Protesters.
Protestors at universities across the country have been demanding that their institutions divest from companies that are tied to Israel or the war in Gaza, a demand universities have long rejected as antisemitic.
On today’s Big Take podcast, Sarah Holder talks to Bloomberg higher education reporter Janet Lorin and California reporter Eliyahu Kamisher about what’s really inside endowment funds and why universities are unlikely to yield to the calls of disclose and divest.
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This Episode is [Redacted]
The US public’s trust in the media, and the government, is markedly low. A recent Gallup poll found only about 30 percent of Americans trust the media — and Pew Research found only 16 percent trust their government.
Bloomberg’s Jason Leopold is using records to try to change that. He’s filed over 9,000 requests through the Freedom of Information Act, or FOIA — a Cold War era law meant to ensure the right to transparency from the US government.
On today’s episode, Big Take DC host Saleha Mohsin and Jason dissect the FOIA process, the challenges of sifting through redacted documents from secretive government entities and the stories FOIA records have brought to light.
Subscribe to the FOIA Files newsletter: https://www.bloomberg.com/account/newsletters/foia-files
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What Went Wrong at the House of Gucci
Gucci was once a symbol of red-carpet luxury, but its brand, along with its sales numbers, is faltering. This Tuesday, Gucci’s parent company Kering reported its latest earnings: Gucci’s comparable revenue dropped by 18% in the first quarter this year. Kering also warned that recurring operating income will continue to plummet in the first six months of this year.
On today’s Big Take podcast, Bloomberg’s Angelina Rascouet and Sara Forden talk about what went wrong at the house of Gucci, and how its billionaire owner family, the Pinaults, plan to rescue it.
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What Makes Resource-Rich Qatar Such a Powerful Mediator
The discovery of natural gas in Qatar back in the 1970s was a transformative economic windfall for the country and its long-time rulers, the Al Thani royal family. Since then, the Al Thanis have been spending that money to build Qatar’s global brand – while strengthening diplomatic ties with powerful, and sometimes unlikely, allies.
On today’s Big Take podcast, Bloomberg wealth reporter Devon Pendleton joins host Sarah Holder to trace the meteoric rise of Qatar and its royal family, and discuss how the war in Gaza and escalating conflict in the Middle East has made the country’s mediator role as critical as ever.
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Tensions Are Growing in the South China Sea
The US and the Philippines kicked off one of the largest military exercises in waters near the South China Sea on Monday. These joint military drills take place annually but this year’s come amid rising tensions between China and the Philippines. The countries are sparring over control of the waterway, which is rich in energy reserves.
On today’s Big Take, host Oanh Ha and Bloomberg Senior Editor Bill Faries break down why who controls this vast body of water matters for South East Asia and the rest of the world.
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India Offers A Glimpse Into the Rise of Campaign Deep Fakes
Divyendra Jadoun, known as “The Indian Deepfaker,” is having a pretty busy year. The 31-year-old has built a business around making deep fakes for politicians in India — campaign-style videos where candidates appear to address voters by name.
On today’s Big Take podcast, Bloomberg’s Bangalore-based AI reporter Saritha Rai and EU policy reporter Jillian Deutsch join host David Gura to explore the growing demand for these campaign deep fakes, concerns about disinformation, and the challenges of regulating the technology as India goes to the polls in the world’s biggest election.
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Boeing’s Rise, Fall and Painful Public Reckoning
Tires and doors falling off mid-flight. A top US official stranded because of a 737 jet maintenance issue. Boeing is facing the ire of US lawmakers, scrutiny from its key regulator, and pressure from Wall Street ahead of an earnings report — all as it struggles to rebuild trust with passengers after a string of crises.
On today’s episode, Big Take DC host Saleha Mohsin digs into Boeing’s rise and fall with reporter Julie Johnsson, global aviation editor Benedikt Kammel, and long-time pilot and accident investigator Captain John Cox.
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The Cocoa Shortage Rocking the Chocolate World
Cocoa has never been so expensive. That’s bad news for players all along the chocolate supply chain: from farmers, to chocolatiers, to chocolate lovers.
In today’s episode, we travel from a farm in Ghana to Jacques Torres’ chocolate factory in Brooklyn, on a journey to understand the origins of a cocoa crisis – and what it means for the future of chocolate.
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The Disturbing Extortion Scheme Targeting Teen Boys
In a frightening trend, scammers are catfishing teen boys and trying to extort them — and there have been tragic outcomes. The FBI says this type of crime, which it calls “sextortion,” is one of the fastest growing crimes targeting children in the US.
Today, host David Gura talks to Bloomberg investigative reporter Olivia Carville about how teen boys are targeted online — and how these crimes impact the victims and their families.
This episode discusses sensitive topics, including suicide. If you or someone you know needs help with thoughts of suicide or self-harm, a global list of help lines is available here.
Read More: Scammers are targeting teenage boys on social media—and driving some to suicide
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Iran’s Attack on Israel and What Comes Next
Over the weekend, Iran deployed hundreds of drones and missiles in an attack on Israel. Now, Israel weighs its response as US officials and their allies try to prevent further escalation.
On today’s Big Take podcast, Israel bureau chief Ethan Bronner and national security editor Nick Wadhams join host David Gura to discuss what happened over the weekend, and where this conflict could go from here.
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‘Bluey’: A Blue Heeler Worth $2 Billion With an Uncertain Future
Bluey, the Australian animated TV show about a family of Blue Heeler dogs, is worth $2 billion. But is Bluey worth that without the show’s auteur Joe Brumm in the picture? The release of a special extended episode coming this weekend is sparking rumors about the smash-hit sensation.
On today’s Big Take podcast, Bloomberg’s Devin Leonard and Reyhan Harmanci join host David Gura to talk about the beloved program, the secret to its broad appeal, and the challenge of managing Bluey’s commercial success. Featuring some of our youngest listeners.
Further reading: How Bluey Became a $2 Billion Smash Hit—With an Uncertain Future
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The Cost of Keeping US Steel US-Owned
A Japanese company’s bid to buy US Steel has sparked a fight with the United Steelworkers union — and put the company at the center of the 2024 presidential contest.
Today on the Big Take, Bloomberg reporters Joe Deaux and Josh Wingrove join host David Gura to trace why the deal came to a halt, how the company fits into Joe Biden and Donald Trump’s brands of political nostalgia, and why the fate of this deal could have an outsized impact on the election.
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Why Pricey Private Colleges Don’t Always Pay Off
It’s college acceptance season and many students are facing a decision: prestigious private universities versus cheaper public options. But if they’re looking at college as an investment in their future, there are some metrics worth considering.
Today on the Big Take podcast, personal finance reporters Paulina Cachero and Francesca Maglione join host Sarah Holder to dig into data on the return on investment at colleges and universities in the US. And given the ballooning price of higher education, they found that, based on financial ROI, prestige doesn’t always pay off.
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How India Could Overtake China As the Fastest Growing Economy
India is posting some of the most robust economic growth rates right now in the world. And with China slowing, India could become the new engine of global economic growth.
But it will take strategic investments, increased labor participation and more for India to achieve its economic ambitions. Today on the show, Bloomberg’s New Delhi-based economics and politics reporter Dan Strumpf joins host Sarah Holder to discuss India’s roadmap, and what its success could mean for the rest of the world.
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On the Ground With Yellen in China
The US-China relationship saw several years of instability — including a trade war, China’s Covid-Zero policy and the discovery of a Chinese spy balloon above the United States.
And now, with both sides keen to resume cooperation, Treasury Secretary Janet Yellen is wrapping up a trip to China with strong words about the country’s manufacturing strategy and its alleged support of Russia’s war effort.
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Argentina’s President Who Promised Radical Change Confronts Reality
Argentina’s president Javier Milei has made waves since taking office in December. From his plans to abolish his country’s central bank and replace its peso with the dollar, to his efforts to reverse previous administrations’ moves to build closer ties with China, Milei is charting a perilous – and untested – new course for a country long-rankled by inflation and economic instability.
Today on the Big Take podcast, Bloomberg Editor-in-Chief John Micklethwait sits down with host David Gura to discuss his exclusive interview with the Argentine leader.
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Filing Your Taxes Could Get Easier (If This Program Works)
After years of letting the private tax e-filing industry run the show, the IRS is finally piloting an online tool that’s supposed to make tax season easier – and free – for thousands of taxpayers in a dozen states.
On this episode of The Big Take podcast, we explore how the idea got off the ground, who can use it, and whether the program could ever compete with the powerful private tax-filing industry.
Corrects date the Free File Alliance was launched in podcast published April 4.
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Why Hertz’s Big Bet on Teslas Didn’t Work
When Wall Street investors Tom Wagner and Greg O’Hara took over Hertz, they had ambitious plans. They aimed to revolutionize the car rental business by bringing a record number of electric vehicles into Hertz’s fleet, including 100,000 Teslas. And when Hertz’s IPO launched in 2021, it seemed Wagner and O’Hara had just made a visionary deal.
EVs were hot when Hertz started buying them. But as Bloomberg reporters Erik Schatzker and David Welch tell host Sarah Holder, the company would soon discover that making them work in the rental market was another challenge entirely.
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Traders Ready for Market Turbulence As S&P Hits Highs
With the stock market hitting record highs, many are wondering if it will continue to soar or come crashing down. One way to tell what’s on the mind of investors is to look at the options market. Bloomberg’s Carly Wanna tells host David Gura that average daily call volume on the VIX, often called the “fear gauge,” was up in the first quarter.
So, should we be worried that traders are preparing for the possibility of a big downturn? Today on the show, what's driving markets to all-time highs, and what the VIX tells us about what investors think will come next.
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Big Banks are “Quiet Quitting” Their Climate Promises
Big banks made big promises to help fight climate change. But as the world warms, those institutions are quietly cooling on their plans.
On today’s Big Take podcast, Bloomberg reporter Alastair Marsh joins host Sarah Holder to break down why banks are rethinking their commitments, and what that could mean for the climate crisis.
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Jerry Seinfeld: The Last TV Billionaire?
Jerry Seinfeld is a billionaire, thanks in part to earnings from his iconic 1990s sitcom, Seinfeld. After co-creating and starring in the TV show, Seinfeld parlayed his comedy into big money – but changes to the entertainment industry could make it a challenge for others to follow suit.
On today’s Big Take podcast, Bloomberg wealth reporter Annie Massa talks to host Sarah Holder about how the Bloomberg Billionaires Index valued Seinfeld’s net worth for the first time, and what made his eponymous show such an enduring – and lucrative – classic.
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The Texas Border Town at the Center of the Immigration Debate
Immigration has become a top issue for voters in the 2024 election cycle, but people on the border want action now — not after November.
On the Big Take podcast, Bloomberg's Washington Bureau Chief Peggy Collins visits Eagle Pass, Texas, to explore why the US-Mexico border is shaping up to be a dominant campaign issue and what the needs on the ground really are.
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The Sentencing of Sam Bankman-Fried
In the nearly five months since a jury found Sam Bankman-Fried guilty, a narrative has started to take shape in crypto circles that the business model behind FTX was sound and that SBF would have been successful had he not dipped into customer funds.
But on the eve of his sentencing, Bloomberg’s Max Chafkin and Zeke Faux join The Big Take Podcast to discuss how they found — after interviewing insiders and carefully examining trial testimony and thousands of pages of documents — that fraud was at the very core of FTX’s meteoric rise.
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Elon Musk’s Starlink Terminals Have a Black Market Problem
SpaceX’s Starlink satellite program touts itself as a source of reliable internet in hard-to-reach places. But there are some countries where Starlink’s services aren’t licensed, or where the company can’t do business because of US sanctions. And a Bloomberg investigation has found that Starlink kits are appearing in many of those markets anyway – with geopolitical consequences.
On today’s Big Take podcast, Bloomberg senior editor Alan Crawford traces the burgeoning black market for Starlink terminals, from Sudan to Venezuela. And national security reporter Dan Flatley breaks down why US government officials are taking notice – and the hurdles to shutting the black market down.
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Employees Describe Pattern of Harassment and Drug Use in Citigroup Unit
Citigroup was the first major Wall Street bank with a female CEO. But interviews with 22 people who worked in or closely with the bank’s equities division suggest a pattern of harassment and discrimination.
Bloomberg’s Paige Smith and Max Abelson join The Big Take podcast to share what their reporting uncovered, and what it says about the rest of Wall Street’s overdue #MeToo reckoning.
Read more: Harassment and Drugs Plagued a Citigroup Division for Years
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What TikTok Tells Us About China’s Soft Power
The US House of Representatives has passed a bill with an ultimatum for TikTok’s parent company, ByteDance: sell the app, or be banned in the US.
Today on The Big Take podcast, Bloomberg’s Dan Flatley and Alex Barinka cover the national security concerns behind this bill and the potential geopolitical and tech industry consequences.
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Japan Has a New Interest Rate: Zero.
For the first time in almost two decades, Japan has raised interest rates out of negative territory. The reason? Inflation has finally arrived in the country’s economy.
Today on The Big Take podcast, Bloomberg’s Paul Jackson and host Sarah Holder tackle what the change means for banks, business, and Japan’s economy.
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The MLB Wants to Make It Big in Asia. Shohei Ohtani Can Help
Major League Baseball has a big problem: it’s tapped out on new fans in the US. So it's looking abroad to Asia to bring in new ones. Japanese baseball prodigy Shohei Ohtani is crucial to that plan.
On today’s Big Take podcast, Bloomberg’s Janet Paskin discusses Ohtani’s meteoric rise, his $700 million contract with the Los Angeles Dodgers, and his pivotal role in the league’s global ambitions.
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Crypto Is Back. Bubble or Blastoff?
Cryptocurrencies have been on a tear. Over the past few weeks, Bitcoin has been hitting all-time highs. And many say this is just the beginning.
On today’s Big Take podcast, Bloomberg’s Stacy-Marie Ishmael joins us to discuss crypto’s latest record-setting run: is it going to the moon or are we on the brink of another bubble?
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The Plumber Shortage Clogging Up the US Economy
The US has a plumber shortage. And as more and more baby boomer plumbers reach retirement, there aren’t enough young people coming in to fill the gap.
On today’s Big Take podcast, we talk to Bloomberg’s US Economy reporter Enda Curran about why there’s a shortage and what it means for America’s infrastructure and economy. Plus – we hear from Chris Biondi, a plumber struggling to clear the way for future generations in the industry.
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The Federal Reserve's Tricky Economic and Political Terrain, Explained
Federal Reserve Chair Jerome Powell is trying to navigate a tricky economy – stubborn inflation and persistent fears of a recession. Now, two men hoping for a second term in the White House are drawing the central bank into the political fray.
“We can expect that things are going to get a little spicy,” Bloomberg’s Kate Davidson, who covers the Fed, joins the Big Take DC podcast to talk about the battle to maintain the central bank’s independence in the glare of 2024.
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The Vicuñas and the $9,000 Sweater
On today’s Big Take podcast, we trace the origin of Loro Piana’s $9,000 vicuña sweaters to the Andes mountains. Bloomberg’s Marcelo Rochabrun joins host Sarah Holder to unspool what it all means for the Indigenous communities that harvest the wool.
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The Big Business of Catastrophe-Betting
Today on the Big Take podcast, we visit the hedge fund with one of the world’s largest collections of catastrophe bonds, Fermat Capital Management, to see how they place their bets to get record returns. And we hear how the growing industry is helping fill a need in the global insurance market.
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What a Cease-Fire in Gaza Would Look Like
Israeli and Hamas officials failed to come to a cease-fire agreement before the start of Ramadan this past weekend. That’s adding to the difficulty of getting aid into war-torn Gaza and the dire situation on the ground.
Today on The Big Take podcast, Bloomberg’s Fares Alghoul and Ethan Bronner report on what a cease-fire would mean and why reaching an agreement has been so challenging.
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How Much Does it Cost to Buy an Oscar?
When the 96th Academy Awards airs this Sunday, the year’s biggest films will face off to compete for the highest honor in the movie industry.
For a movie studio, winning an Oscar is a big deal — and it’s become big business. Studios spend millions on marketing, screeners and advertising in the lead-up to the Academy’s votes for a race not unlike a political campaign. It wasn’t always this way. On today’s Big Take podcast, author Michael Schulman and Bloomberg entertainment industry reporter Chris Palmeri take us to the sweet, Shakespearean rom-com that started it all and map how it led to the overheated, multimillion dollar ad blitzes we see today.
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91 Felony Counts and a Campaign to Run
Donald Trump faces four criminal trials amounting to 91 felony counts, and three civil cases. None of this has fazed his base as he runs for election. “If he was in jail, I sure would vote for him,” said Ralph Hunter, a South Carolina resident. He told the Big Take DC podcast that while he doesn’t like Trump “as a person,” he was impressed with his presidency.
Trump’s electability is intact – but his finances are another story. Today on the Big Take DC: How Trump’s legal woes are hitting his wallet and his re-election bid.
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Inside Microsoft’s Censorship of Bing in China
Microsoft’s Bing is the second most popular search engine in China, a market that Google exited years ago. Today, Bing remains as the only Western search engine accessible there. But success has meant having to make significant compromises on issues such as censorship.
On today’s Big Take podcast, Bloomberg’s Ryan Gallagher gives us one of the first comprehensive, inside accounts of Bing’s sophisticated censorship system in China, and how it’s centered on an expanding blacklist of websites, words and phrases.
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The Biden-Trump Race is On
Fifteen states voted in the presidential primary contest on Super Tuesday, marking a decisive point in the election cycle. Former President Donald Trump’s campaign notched a clear victory as he marches down the path to clinching the Republican nomination. For President Joe Biden, between Super Tuesday and his State of the Union on Thursday, it’s officially the beginning of campaign season.
Is Trump’s grip on the GOP’s future solidified? Will Biden be able to rekindle Trump angst to compete with Trump nostalgia?
Host Saleha Mohsin and Bloomberg politics editor Mario Parker talk about the vulnerabilities each candidate faces, and what lies ahead in 2024.
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A New Housing Crisis Is Brewing In Places Prone to Climate Disasters
As climate risks grow, some private home insurance providers are retreating from US regions most vulnerable to catastrophe. And homeowners who can’t get coverage through the private market are increasingly turning to insurance “plans of last resort,” created by states.
The amount of liability taken on by these types of insurance plans is staggering, and growing: by some estimates, they’re holding more than $1 trillion of risk.
On today’s Big Take podcast, climate reporter Leslie Kaufman and California reporter Nadia Lopez share an investigation into how skyrocketing enrollment in state-created plans could create the conditions for a financial crisis.
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Where Does Inflation Go From Here?
The core personal consumption expenditures price index came in hot last week. After months of evidence that inflation was decelerating, the PCE — the Fed’s preferred measure of inflation — rose at its fastest pace in nearly a year.
On today’s Big Take podcast, we sort through the numbers with Matthew Boesler, who covers the US economy for Bloomberg, to understand whether the latest PCE report is a one-off aberration, or if it signals a true resurgence of inflation.
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Introducing: The Deal with Alex Rodriguez and Jason Kelly
The Deal, hosted by Alex Rodriguez and Jason Kelly, features intimate conversations with business titans, sports champions and game-changing entrepreneurs who reveal their investment philosophies, pivotal career moves and the ones that got away. From Bloomberg Podcasts and Bloomberg Originals, The Deal is available on Apple Podcasts, Spotify, iHeart, Bloomberg Carplay, or wherever you get your podcasts. You can also watch The Deal on Bloomberg Television, and Bloomberg Originals on YouTube.
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Chinese Emigrants Are Choosing New Destinations - and Transforming Them
A new wave of Chinese people are leaving China after the Covid-19 pandemic and they’re headed to places that aren’t the typical destinations for Chinese immigrants in the past.
Bloomberg’s Lulu Chen tells us how China’s slowing economy, fears over new policies to redistribute wealth and Beijing’s handling of the pandemic created the perfect storm for this exodus. In today’s Big Take podcast, we look at the impact Chinese immigrants who move into these communities in far-flung places have, and what a rising outflow means for China’s future.
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The Royal Nephews at the Center of Monaco’s Latest Financial Scandal
On today’s Big Take podcast, an investigation by Bloomberg Businessweek reveals how Prince Albert II’s government regularly favored his nephews in business deals. Members of the royal family deny any wrongdoing, but Monaco finds itself in the midst of a political crisis.
Bloomberg reporters Gaspard Sebag and Anthony Cormier detail why two of the Prince’s nephews are now facing allegations of using state contracts to line their own pockets at a time when the country’s government is already under scrutiny for failing to curb financial crime.
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Inside Project Maven, the US Military’s Mysterious AI Project
On today’s episode, the US military’s mysterious project to bring modern artificial intelligence to the battlefield — told by the defense official behind it, whose job was so secretive he couldn’t even tell his wife about it. Bloomberg’s Katrina Manson takes host Saleha Mohsin behind the scenes for an unclassified look at Project Maven.
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Private Credit Is Attracting Attention. Not All of It Is Good
Private credit funds are having a moment. Once under-the-radar lenders that did deals with riskier clients, the firms have gotten a lot more popular as interest rates have climbed. But private credit funds are also under a lot less oversight than traditional lenders, allowing little transparency into the way they value their loans. And all this new-found attention is starting to come with heightened scrutiny.
On today’s Big Take podcast, reporter Silas Brown shares what we know – and what we don’t – about how the world of private credit operates, and what new regulatory interest could mean for the $1.7 trillion dollars of assets these funds are managing.
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Have US Sanctions on Russia Worked?
Two years after Russia invaded Ukraine, US-led sanctions have incalculably changed its economy – but haven’t ended the war. Treasury’s chief sanctions economist says US efforts are working.
But one analyst, who was at Russia’s central bank until he fled in 2022, says Russia’s economy is very much alive. In this episode of the Big Take DC, we find out about Russia’s “brain drain,” how its economy went from shrinking to a projection that it will beat expectations in 2024, and whether it will ever regain its prestige as part of the global community.
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Russia’s Hunt for Arms Meets North Korea’s Need for Cash
The US and other countries say a deeper connection has been forged over a new arms trade between Russia and North Korea. They accuse North Korea of providing Russia with ballistic missiles and hundreds of thousands of rounds of ammunition – supplies Russia desperately needs to continue its war in Ukraine.
Both North Korea and Russia deny that an arms trade is underway. But as Bloomberg’s Jon Herskovitz tells us, it’s clear that an isolated economy like North Korea could stand to gain a lot from this arrangement. Jon takes us inside the evidence that an arms deal is happening and tells us why this could be one of the most lucrative moves North Korea has ever made.
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The Other MH370 Mystery: Why a Key Safety Measure Keeps Stalling
Malaysia Airlines Flight 370 took off from Kuala Lumpur just after midnight on March 8, 2014. Aviation officials lost contact with the flight less than an hour later. MH370 never made it to its destination, and the 239 people on board were never found. Ten years later, what happened to the plane is still aviation’s biggest mystery.
In the wake of the accident, regulators proposed a key safety change that could prevent a plane from disappearing again. But after a decade, most planes are still not outfitted with the proposed tracking tools. On today’s Big Take podcast, Bloomberg reporter Angus Whitley shares why the airline industry has been slow to learn from the lessons of MH370 — and what that means for the odds of another disaster like it happening again.
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How One Business Decision Set Back the Fight Against Malaria
For years, it seemed like Papua New Guinea was on a course to stamp out malaria. In 2010, the total number of suspected malaria cases in Papua New Guinea was 1.7 million. By 2015, the number had been cut nearly in half. Experts believed the country could see a malaria-free future as soon as 2030. But then, something changed—and cases started climbing again, as quickly as they had fallen.
In today’s episode of the Big Take podcast, Bloomberg health care reporters Anna Edney and Michelle Fay Cortez unpack how a single business decision made by the world’s biggest manufacturer of bed nets reversed years of work to eradicate malaria in a country that—at least for a while—was on track to beat it.
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Inside Top Hedge Fund Earners for 2023
Bill Ackman has had a big year. His constant posting and vocal condemnation of antisemitism on college campuses has won him over a million followers on X (and more than a few critics). Meanwhile, his hedge fund, Pershing Square Capital Management, has netted him $610 million in earnings.
Where Ackman’s online strategy is loud, Bloomberg wealth reporter Tom Maloney says the hedge fund manager’s financial strategy is more hands-off. And it’s working.
On today’s Big Take podcast, Maloney reveals the paydays of last year’s top hedge fund managers, and why the same big players keep appearing on the list despite the economy's ups and downs.
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The Little Sanctions Office That Could
America’s use of sanctions has grown by almost 1,000% since 9/11. So why isn’t Congress giving the office in charge of them more resources?
Today on the Big Take DC podcast, host Saleha Mohsin talks to John Smith, a former director of the US Office of Foreign Assets Control, and Bloomberg National Security editor Nick Wadhams about OFAC’s scrappy operation and why lawmakers aren’t giving it more to work with.
Get this episode and Big Take DC episodes a day earlier by subscribing to Big Take DC.
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Commercial Real Estate Can’t Ignore Its Empty-Office Problem Anymore
The commercial real estate market has been upended by changing office habits and rising interest rates. For years, lenders and global investors did not have to confront these plunging building values. But with deals picking up again, the reality can no longer be ignored.
On today's Big Take podcast, Bloomberg real estate reporters Natalie Wong and Patrick Clark share how these losses may ripple across the global financial system.
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Third Party Candidates May Cause Trouble for Biden or Trump
American voters are so disillusioned by their options in the presidential election that pollsters have come up with a term for it: “Double-hater.” These are people who don’t like President Joe Biden or former President Donald Trump, who leads the race for the GOP nomination. And yet, when asked by the Big Take DC podcast if an outsider candidate could break through in 2024, Ralph Nader, who ran for president outside the two major parties four times, gave a simple, “No.” Still, there are some indications that third-party candidates could cause trouble for the frontrunners.
In this episode of Big Take DC, we examine the impact an outsider candidate could have on the general election and efforts from groups like No Labels to offer a viable alternative.
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Unexpected Power Surges Are Putting US Homes At Risk
The US power grid has long been under pressure. But now, aging infrastructure is facing more extreme weather, more electricity usage and more renewable energy coming online.
These strains on the grid mean dangerous power surges could potentially flow directly into people's homes. In today's episode, Bloomberg's Naureen Malik takes us inside the realities of electrification.
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Why Driving A Few Miles Can Save You Thousands on Health Care
For years, the true price of health care in the US has been the result of negotiations between providers, insurance companies and government agencies. But for the patients, companies and taxpayers who pick up the tab, it's often been a mystery. That's led to hospital pricing that’s all over the map.
In today’s episode of the Big Take podcast, Bloomberg reporter John Tozzi explains how patients at almost half of US hospitals can find significantly less expensive competitors within 30 miles. And we hear from Jen Villa, a special education teacher from Salinas, California, who has felt the impact of those pricing disparities firsthand.
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What the 2024 US Election Could Mean for China
China’s economy has been in rough shape, and the government is trying to address it. But there’s another threat on the horizon: the US election.
During their presidencies, both Joe Biden and Donald Trump backed policies that drove the US and China further apart. Now, they're both campaigning for re-election on continuing on that trajectory.
In this episode, Joe Weisenthal and Tracy Alloway from the Odd Lots podcast speak with Tom Orlik, chief economist at Bloomberg Economics, and Mackenzie Hawkins, US industrial policy reporter for Bloomberg News. They’ve measured what a Trump or Biden victory in 2024 could mean for China’s economy, and beyond. Subscribe to Odd Lots to get all of their episodes.
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The Last Great American (Football) Dynasty
This Sunday in Nevada, the Kansas City Chiefs will face off against the San Francisco 49ers in Super Bowl LVIII.
Both teams, like lots of others in the league, have been owned by the same family for decades. But with soaring valuations for NFL franchises, and owners getting older, the NFL's long standing family ownership model is facing new threats.
As the football league debates potential rule changes that would allow private equity investors to buy into teams, Bloomberg sports business reporter Randall Williams joins today’s Big Take podcast to answer our pressing question: Could this be the end of the last great American dynasty?
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How Crypto Is (Finally, Actually) Winning Over Wall Street
The meltdown at FTX scared a lot of retail investors away from crypto. But many big banks have doubled down, and are pushing cryptocurrency more into the mainstream.
In today’s episode of the Big Take podcast, Bloomberg senior crypto reporter Olga Kharif explains how traditional financial institutions have gotten behind the technology underpinning crypto and what it means for the rest of the industry.
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Libya’s $5 Billion Fuel-Smuggling Trade Has a Russia Problem
In September 2022, a tanker called the Queen Majeda was stopped by authorities in Albanian waters, stuffed to the gills with $2 million worth of marine gas oil. The ship was coming from Libya’s port of Benghazi. And according to the Albanian authorities, the oil they were carrying was being smuggled out of the country illegally.
The Queen Majeda was just the tip of the iceberg of Libya’s $5 billion fuel-smuggling problem, Bloomberg’s senior global business reporter K. Oanh Ha discovered. She learned from the head of Libya's audit bureau that as much as 40% of the fuel imported to Libya under a subsidy program in 2022 was smuggled out. And by tracking shipping data, Ha found that a lot of the fuel exiting through illicit trade originally came from Russia. The fuel then made its way from Libya into European countries that have banned Russian fuel imports.
In today’s episode, Ha unravels the mystery of the Queen Majeda – and reveals how Russian fuel flows through Libya to dodge European sanctions.
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Investors Have Sky-High Hopes for AI. Can the Tech Deliver?
The seemingly vast profit potential of artificial intelligence has helped buoy the stock prices of tech behemoths like Alphabet, Apple and the rest of the Magnificent Seven. But last week’s earnings showed that for many of these companies going all-in on AI, lofty investor expectations are hard to meet. As advanced as AI applications like ChatGPT and GitHub Copilot may seem, it’s an open question as to whether tech companies can monetize them.
In today’s episode of The Big Take podcast, Bloomberg Businessweek technology reporter Max Chafkin explains the gap between investors' AI expectations and reality, and what it would take for these technologies to live up to their promise.
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America’s ‘Debt Spiral’ Is Nearing a Critical Threshold
When the US borrows money, just like any borrower, it needs to pay its loans back with interest.
The national debt right now is $34 trillion and rising. Soon, America will need to spend more each year paying interest on the debt than it spends on national defense.
Today on Bloomberg’s Big Take DC, host Saleha Mosin talks to Bloomberg reporter Liz McCormick and Phillip Swagel, director of the Congressional Budget Office, on what it would take to rein in the US's government's debt spiral.
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The Brutal Crime Crackdown Taking Hold Across Latin America
Nayib Bukele has brought violent criminal gangs to a heel in El Salvador, transforming the country into one of the safest in Latin America. That’s made him extremely popular, even as human rights groups have condemned mass arrests and what they say are other abuses of civil liberties.
Marcelo Rochabrun, one of Bloomberg's bureau chiefs in Latin America, tells us how Bukele’s success in fighting crime has come at the expense of civil rights. And now, other leaders in the region are starting to follow suit.
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Why Wind Farms Are Paid Millions to Turn Off
The UK is in the midst of a green energy transformation, with more than 40% of its electricity coming from wind power as of December. But wind can be unpredictable and the grid can’t always handle the power wind turbines generate on blustery days — and so to protect the grid, operators sometimes pay wind farms to power off.
After Bloomberg’s investigations team received a tip about troubling inaccuracies in the data used to calculate these payments, our reporters went looking for answers. And they found a big problem lurking in the UK’s renewable energy market: some wind farm operators were routinely overestimating their production forecasts, and traders and market experts say that, in effect, they’re getting paid to stop producing power that they wouldn’t have produced anyway.
According to Gavin Finch and Todd Gillespie, the reporters who led this investigation, the price tag for consumers is in the millions of pounds. And with the UK aiming to triple the number of wind turbines in the country by the end of the decade, those costs could increase.
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A New Era for Microsoft, Activision — And for Gaming
Microsoft recently cut 1,900 jobs from its gaming division and among the layoffs were many at the recently acquired video game developer Activision Blizzard. Blizzard Entertainment’s President Mike Ybarra and co-founder Allen Adham are both departing. The tech giant also announced the cancellation of a Blizzard game, called “Odyssey,” that was already six years in development. Today, Microsoft reported its quarterly earnings. Revenue is up.
Jason Schreier, the creator of Bloomberg’s Game On newsletter, joins the Big Take to give us the latest on Microsoft’s moves and makes some predictions about larger trends for the gaming industry to watch for in 2024.
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Shawn Fain Takes On the EV Industry and the Election
United Auto Workers President Shawn Fain has been in the news almost nonstop for successfully negotiating a new contract for union members and, most recently, endorsing President Joe Biden for re-election.
But that endorsement is at odds with many rank-and-file union members who support Donald Trump. And Fain's next industry battle could be much harder.
In setting his sights on electric vehicle makers like Tesla and rallying his union members (many in swing states) around Biden, Fain is trying to propel the UAW back to its former industry might and political sway.
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Economists May Be Using Bad Data to Make Big Decisions
Bloomberg’s Big Take DC podcast looks into how the US managed to avoid a recession — and whether the Federal Reserve’s decisions were based on reliable data.
Bloomberg’s Saleha Mohsin talked with Claudia Sahm, an ex-Fed economist, and with Odd Lots podcast hosts Joe Weisenthal and Tracy Alloway.
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The Pharmaceutical Rivalry Behind the Weight-Loss Drug Boom
The multi-billion dollar weight-loss drug market has ballooned in the past few years. And the two pharmaceutical companies currently duking it out for market dominance, Novo Nordisk and Eli Lilly, have a century-long rivalry.
Bloomberg News health reporter Madison Muller breaks down how Eli Lilly developed Zepbound, a new drug that can help patients cut more than 20% of their body weight — and why some investors and analysts think it will turn Eli Lilly into the first ever trillion-dollar drug company.
(Corrects characterization of the current size of the weight-loss drug market)
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The Stock Market’s Historic Rally, Explained
The S&P 500 closed at a record high on Jan. 19, for the first time in two years. It was the start of a winning streak. In today’s Big Take episode, Bloomberg markets editor Chris Nagi joins the show to discuss why Wall Street’s somewhat pessimistic expectations for this year’s stock market were blown out of the water.
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Houthi Attacks in the Red Sea Hit the Global Supply Chain
For two months, Houthi militants have been launching surprise attacks on civilian ships in the Red Sea. Repeated rounds of retaliatory strikes by the US and its allies haven't stopped the assaults. Now, these tensions are threatening not only trade routes, but the broader global supply chain.
The Big Take spoke with Bloomberg News reporters Enda Curran in Washington, DC and Mohammed Hatem, who reports on economics and politics in Yemen, about what brought us to this point and how companies are trying to strengthen their supply chains in the face of uncertainty.
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How Israel’s War in Gaza Is Hurting Its Own Economy
Over the last few decades, Israel has transformed itself from a relatively poor agrarian economy to a global startup haven. Its per capita GDP now exceeds that of France, the UK and Japan. But with Hamas’ attack on Israel – which killed 1,200 people and claimed more than 200 hostages – and Israel’s subsequent invasion of Gaza, that economic trajectory could be at risk.
Some 360,000 Israeli reservists were called to serve in the military in the days that followed October 7th, destabilizing Israel’s workforce, while economic growth is forecast to have plummeted in the last quarter of 2023. And as Israel continues its invasion of Gaza – a war that has already claimed the lives of more than 25,000 Palestinians, according to Hamas officials – Israel’s military spending is expected to balloon. The country’s just-released 2024 budget calls for $19 billion in war-related expenditures.
On today’s Big Take podcast, Israelis involved in building the country’s vibrant start-up ecosystem share their stories of how the aftermath of October 7th has impacted their employees and the community’s operations – and Bloomberg’s Galit Altstein walks us through what it could all mean for Israel’s economic future.
Read more: An Isolated Israel Doubles Down on War in Gaza — At All Costs
This episode was produced by: David Fox
Senior Producers: Naomi Shavin and Gilda Di Carli
Editors: Caitlin Kenney and Jordan Fabian
Executive Producer: Sage Bauman
Sound Design/Engineer: Blake Maples and Alex Sugiura
Fact-checker: Adriana Tapia
Special thanks to Galit Altstein and Israel bureau chief Ethan Bronner for the reporting that inspired this episode.
Have questions or comments for the team? Reach us at bigtake@bloomberg.net.
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Big Take DC: Wall Street Is Running Out of Time to Influence the GOP Nomination
Today, we’re sharing the newest episode from our collaborators over at the Big Take DC. They look at why Wall Street donors are waiting to weigh in on the GOP primary. Make sure you subscribe to the Big Take DC feed so you can get episodes like these every Thursday. Just look up Big Take DC, available wherever you listen to podcasts — And while you’re there, check out their reporting from the Iowa caucuses earlier this week.
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The biggest individual donors have been notably absent in the GOP primaries: Wall Street investors.
So far, big investors haven’t opened their wallets for Republican frontrunner and former President Donald Trump. But they haven’t rallied around any of his challengers, either. In fact, they’re just as fatigued by the options as everyday American voters, many of whom grimace at the thought of a rematch between Trump and President Joe Biden.
Bloomberg’s Saleha Mohsin talks with Kyle Bass, who is plugged into the world of political money and is close with major donors, and Bloomberg politics editor Laura Davison about what investors want out of the 2024 election, the impact of their donations and what their hesitancy means for this consequential election.
Corrects to remove reference to billionaire in podcast and third paragraph.
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Odd Lots: US Oil Is Booming and It's Upending Global Markets
We here at The Big Take are big fans of our colleagues and friends over at the Odd Lots podcast, hosted by Joe Weisenthal and Tracy Alloway. Please enjoy this episode, and hop on over to subscribe to their feed if you like what you hear!
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In the early 2010s, US shale players were producing oil like crazy, with no concerns about profitability. Then the legs were kicked out from the industry, causing a massive bust and massive oversupply. In 2021 and 2022, it looked like a very different story. Oil prices were surging and it seemed as though US players had found religion, learning how to maintain production discipline and improve profitability. But now we're in a new era that nobody saw coming: US oil production is booming. In in fact, it's at a record high. What's more, industry participants are actually making money at the same time. So how did they do it? And how did the prognosticators get things wrong? On this episode of the podcast, we speak with Bloomberg Opinion columnist and commodity specialist Javier Blas. We discuss the state of US supply and what it means for OPEC. We also talk about the rising tension in the Red Sea, as well as his reporting on the rise of electronic electricity trading in the European market.
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TikTok Made Me Buy It: Inside TikTok Shop
Last year, TikTok Shop officially launched in the US. It’s the latest commercial venture from ByteDance Ltd., the parent company that owns the social media app. By creating its own marketplace — where users can find and buy products without leaving the app — TikTok hopes to compete with giants like Amazon. And TikTok is not being shy about its ambitions: according to Bloomberg’s reporting, it aims to grow the size of its US e-commerce business to $17.5 billion this year.
Small vendors like Scott McIntosh have been invited to TikTok Shop and encouraged to start live streaming their products, a tactic that has proven wildly popular in Southeast Asian TikTok Shop markets. Although skeptical of TikTok as a sales platform at first, McIntosh is now a believer. Will TikTok be able to win over the rest of the American e-commerce market?
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How Victor Wembanyama Could Become a Billionaire by Age 33
At over seven feet tall with an eight-foot wingspan, 20-year-old Victor Wembanyama is not your average NBA rookie. As a center on the San Antonio Spurs, Wembanyama’s fluidity and defensive prowess are already on full display. But his game isn’t the only thing that sets Wemby, as his fans call him, apart. Bloomberg’s sports business reporter Randall Williams crunched the numbers, and found that Wembanyama is on track to earn $1 billion from basketball contracts by the time he’s 33. It would make him the first professional basketball player to reach billionaire status just from playing the game.
As Wembanyama considers new brand partnerships and the NBA negotiates new media deals, he could make his billion even sooner – unless an injury sets him back. With rare skills and this rare opportunity, Wemby just might make basketball history.
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In Taiwan, Flight Plans for China Conflict
Taiwan’s politics have long been defined by tensions with China, which claims the island as its own. Over the past several years, China has stepped up military exercises and Taiwanese leaders have responded by asserting the island’s self-rule — a tension that shows little sign of easing with the weekend’s election of current vice president Lai Ching-te to the presidency.
Across Taiwan, individuals are formulating their own responses to the specter of conflict. Our previous Big Take episode showed one young military veteran’s determination to defend Taiwan set him on a tragic course to Ukraine. In this episode, Bloomberg reporters Wan Chien-Hua and Yang Yang explore those who are plotting flights to safety. Some attend civil defense fairs, which teach where to shelter and drill kids on five ways to protect from missile strikes (plug ears; open mouth). Others accumulate passports to foreign countries that may promise more peaceful lives.
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The World Faces a $270 Billion Traffic Jam in Panama
The Panama Canal moves roughly $270 billion dollars worth of cargo annually – it’s the trade route taken by 40% of all US container traffic alone. But the crucial waterway is contending with a crippling drought, worsened by climate change and infrastructure constraints. Water levels are so low that the Panama Canal Authority is restricting the number of ships that can pass through each day. As the line gets longer, shippers are paying to jump the line, or resorting to workarounds.
Bloomberg reporter Peter Millard traveled to Panama to understand how the drought is snarling global shipping and impacting locals. Millard joined the Big Take podcast to share what could solve the canal’s water level issues: from the experimental ideas, to the politically fraught choice to build a new reservoir and flood neighboring lands. There are no easy fixes. But with a traffic jam this big, getting the canal flowing again is becoming more urgent.
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Introducing Big Take DC: Iowa Governor Says DeSantis Can Still Pull Off Caucus Win
Iowa Governor Kim Reynolds gives an exclusive interview to Big Take DC just days before her state kicks off the 2024 presidential cycle. After months of debates and polling, the Iowa caucuses will be the nation's first state-level contest for the next Republican presidential nominee.
Bloomberg’s Saleha Mohsin talks with Reynolds about why Ron DeSantis has her vote, and what she’ll do if Donald Trump becomes the party’s nominee.
This interview has been condensed for clarity.
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The Taiwanese Soldier Who Lost His Life to Defend Ukraine
Watching footage of Russian attacks on Ukraine, Jonathan Tseng thought: That could happen here, too.
So from his home in Taiwan, Jonathan — Tseng Sheng-Guang in Chinese — resolved to take up arms against Russia. He left his wife, son and his beseeching mother in June 2022 to join the ranks of foreign fighters in Ukraine. His decision mirrored his own fears about unwelcome aggression on Taiwan, should China move beyond decades of warnings and threats, and into open conflict, against the island it claims as its own.
Bloomberg reporter Yang Yang spent several months looking for and talking to Jonathan’s family, friends and fellow soldiers in Ukraine, in order to understand more about what drove a young Taiwanese man to battle a neighboring aggressor, and what happened to him there.
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The 2024 Elections That Will Shape the Global Economy
Elections this year will determine the leadership of 40% of the world’s population, spanning the United States, to Taiwan, to Mexico, to Senegal. On today’s Big Take podcast: What democracy’s big test means for the economy.
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Elon, Inc: Elon's Bad Trip
We here at Big Take are big fans of our colleagues and friends over at the Elon, Inc podcast from Businessweek, hosted by David Papadopoulos. Please enjoy this episode, and hop on over to subscribe to their feed if you like what you hear!
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Were we talking about almost any other executive, the report by the Wall Street Journal over the weekend about Elon Musk’s alleged drug use would have qualified as a bombshell. The article contends the chief executive of SpaceX and Tesla has used a collection of substances. This, according to the Journal’s unidentified sources, has caused consternation within Musk’s companies, with Tesla board members and SpaceX executives privately expressing concerns that the alleged drug use may be making Musk unreliable and erratic.
But it’s not clear that many people, either inside or outside Musk’s companies, are genuinely worried. Musk mostly laughed off the report, offering a jokey response suggesting that any drugs he was taking should be seen as performance enhancers and noting that he’d passed government-mandated drug tests “after that one puff on Rogan”—a reference to a 2018 interview with Joe Rogan during which he smoked marijuana. Investors have been largely unmoved by all of this, partly because during the period that Musk is alleged to have indulged in illicit substances, he also made them a great deal of money. And Musk has mostly gone back to his regular schedule of boosting conspiracy theories proffered by election deniers, white nationalists and other assorted right wing influencers.
On this episode, we are joined by Loren Grush, a Bloomberg aerospace reporter and author of the NASA history, The Six, to discuss why these drug allegations haven’t hurt Musk and why a labor dispute involving SpaceX employees might be a bigger threat in the long run.
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What the World's Top Financial Minds Are Predicting for 2024
At the end of every year, Wall Street’s best and brightest release their predictions about where the economy is heading next. Markets reporter Sam Potter has pored through this year’s financial tea leaves – thousands of pages of them – and joined the show to share the most significant takeaways. Overall, there’s optimism about a “soft-ish” landing, disinflation, and continued consumer strength.
But the consensus view has missed the mark before, and 2024 will bring new unknowns, from interest rate changes to technological advances to global elections. We walk through the possibilities, and the stakes: What can we expect if Wall Street is right? And what happens if they’re wrong?
Read more: Here’s (Almost) Everything Wall Street Expects in 2024
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Team Favorite: Taylor Swift Is A Pop Icon. And A Billionaire
We're taking a break this week, here's an episode you might have missed.
Taylor Swift’s monumental success is due to her talent as a performer — as well as her business acumen. Bloomberg’s Devon Pendleton and Claire Ballentine join this episode to talk about how the pop star has taken ownership of her music, built a fiercely loyal fan base–and become a billionaire in the process.
Read more: Taylor Swift Vaults to Billionaire Ranks With Blockbuster Eras Tour
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Have questions or comments for the team? Reach us at bigtake@bloomberg.net.
This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Michael Falero and Mo Barrow. Sound Design/Engineer: Gilda Garcia.
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Team Favorite: You Never Think About Your Car’s Catalytic Converter—Until Thieves Saw It Off
We're taking a break this week, here's an episode you might have missed.
Catalytic converters are a vital part of emissions reduction in gas-powered vehicles. But that’s not why they’ve been making headlines. Thieves across the US have been sawing them off cars because they contain precious metals like platinum, palladium and rhodium. Bloomberg Businessweek contributor Evan Ratliff is here to tell the tale of a $500 million catalytic converter theft ring—and how local police departments and federal law enforcement brought it down.
Read more: How Cops Cracked a $500 Million Catalytic Converter Crime Ring
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This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers Michael Falero and Mo Barrow. Sound Design/Engineer: Raphael Amsili.
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Team Favorite: The K-Pop Mogul Behind BTS Brings His Winning Formula To The US
We're taking a break this week, here's an episode you might have missed.
Bloomberg’s Lucas Shaw and Sohee Kim join this episode to talk about Bang Si-Hyuk, South Korea’s enormously successful music mogul. The billionaire has built a K-pop empire with bands like BTS and New Jeans, and he’s now looking to expand on that model with a new, global act based in the US.
Read more: The K-Pop Mogul Behind BTS Is Building the Next BTS
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Have questions or comments for Wes and the team? Reach us at bigtake@bloomberg.net.
This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producer: Federica Romaniello, Associate Producer: Zaynab Siddiqui. Sound Design/Engineer: Raphael Amsili.
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Team Favorite: Avoiding War With China Is The Top Issue In Taiwan's Election
We're taking a break this week, here's an episode you might have missed.
Taiwan’s current Vice President, Lai Ching-te, leads the polls in the upcoming January presidential election. The winner will have a lot to contend with–and at the top of the list is how to keep the peace with China amid rising tensions. Bloomberg Businessweek editor Joel Weber sat down with Vice President Lai for several wide-ranging interviews in Taiwan.
Joel and Taipei deputy bureau chief Cindy Wang join this episode to talk about the challenges the next president will face in preserving a democratic Taiwan, and public concerns about the possibility of military conflict with China.
Read more: Taiwan’s Election Is All About War
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Have questions or comments for the team? Reach us at bigtake@bloomberg.net.
This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Michael Falero and Mo Barrow Sound Design/Engineer: Gilda Garcia.
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Team Favorite : The Junk Food Industry Finds Its Next Sweet Spot: India
We're taking a break this week, here's an episode you might have missed.
Bloomberg’s Pratik Parija and Kai Schultz join this episode to discuss why the packaged food and beverage industry has its sights set on India—and what that means for the health and wellbeing of the 1.4 billion people who live there.
Read more: Junk Food's $30 Billion Opening Is India's Next Health Crisis
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Have questions or comments for the team? Reach us at bigtake@bloomberg.net.
This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producer: Federica Romaniello, Associate Producer: Zaynab Siddiqui. Sound Design/Engineer: Gilda Garcia.
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Team Favorite: Mattel Bets Big On Barbie's Pink Carpet Debut
We're taking a break for the holidays, so here's an episode you might have missed.
She’s been an astronaut, a scientist and the president of the United States. Now Barbie is a movie star. Bloomberg’s Kelly Gilblom joins this episode to talk about Mattel’s bet that the $100 million Barbie movie debuting July 21 — and the launch of the company’s entertainment division — will revive its biggest brand, reel in new fans and help it reclaim the No. 1 spot of global toymaker.
Read more: Mattel's Risky Bet on a Feminist Barbie Movie Just Might Work
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This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Michael Falero Sound Design/Engineer: Raphael Amsili.
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Team Favorite: The Not So Easy Trick To Getting Rid of Rats (In Big Cities)
We're taking a break for the holidays, so here's an episode you might have missed.
The number of rat-related complaints in American cities has spiked in recent years. In the most overrun cities – Chicago, Washington, DC and New York – officials are stepping up efforts to find and kill them. New York is going so far as to hire a rat czar in charge of stamping them out.
Good luck with that. Cities have tried and failed for decades to control rats. So what can be done to contain the population of these rapidly reproducing rodents?
To answer that question, Big Take podcast producers Kathryn Fink, Rebecca Chaisson and Sam Gebauer hit the streets with a rat control squad in Washington and rodentologist Dr. Bobby Corrigan in New York. We also speak with New York Sanitation Commissioner Jessica Tisch. The good news: we can bring rats under control. The bad news: human nature means we probably won’t.
Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK
Have questions or comments for the team? Reach us at bigtake@bloomberg.net.
This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producer: Rebecca Chaisson, Associate Producer: Sam Gebauer. Sound Design/Engineer: Raphael Amsili.
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Team Favorite: Why Is The US Dependent On Russian Uranium?
We're taking a break for the holidays, so here's an episode you might have missed.
About half of the enriched uranium that nations around the world use for nuclear power comes from Russia. It supplies almost a quarter of America’s 92 nuclear reactors and dozens of other plants across Europe and Asia. The US is now trying to change that with a big push to build up its own capabilities. Bloomberg’s Jonathan Tirone and Will Wade join this episode to talk about what it will take for the US and its allies to free themselves from Russian uranium.
Read more: The Manhattan Project to Wean the World Off Russian Uranium
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Have questions or comments for the team? Reach us at bigtake@bloomberg.net.
This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producer: Federica Romaniello, Associate Producer: Zaynab Siddiqui. Sound Design/Engineer: Gilda Garcia.
See omnystudio.com/listener for privacy information.
Team Favorite: Police Are Tracking Down Suspects With Google User Data
We're taking a break for the holidays, so here's an episode you might have missed.
Google is able to collect a lot of information about the people who use its products on their phones, including where they are at any given time. A growing number of police departments across the US are seeking to obtain this data from Google to help solve crimes. Bloomberg’s Davey Alba and Julia Love join this episode to weigh the pros and cons of using location data in law enforcement, and the privacy concerns it raises. And Travis Staab, a police detective in Arizona, shares how he and his colleagues have used the information to track down suspects.
Read more: Google User Data Has Become a Favorite Police Shortcut
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Have questions or comments for the team? Reach us at bigtake@bloomberg.net.
This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Sam Gebauer, Christine Driscoll, Sound Design/Engineer: Raphael Amsili.
See omnystudio.com/listener for privacy information.
Team Favorite: Women's Pro Tackle Football Takes The Field
We're taking a break for the holidays, so here's an episode you might have missed.
Bloomberg Businessweek contributor Mary Pilon joins this episode to talk about the promise–and challenges–of building a fanbase for the Women’s Football Alliance, an all-female, full-contact league that has 60 teams in four divisions across 32 states.
And we head to a nighttime practice of the DC Divas, to hear from the players and coaches about why they love the game and what it means for women to play tackle football.
Read more: Women Tackle Football With a Full-Contact League of Their Own.
Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK
Have questions or comments for the team? Reach us at bigtake@bloomberg.net.
This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Michael Falero Sound Design/Engineer: Gilda Garcia.
See omnystudio.com/listener for privacy information.
Team Favorite: Your Pet Is Costing You A Fortune and You Don’t Care
We're taking a break for the holidays, so here's an episode you might have missed.
The global pet economy is expected to reach nearly half a trillion dollars by 2030. After a pandemic surge in pet adoptions, more people are buying ever more expensive food and toys for their furry friends. But beyond these routine costs, a growing number of owners are also shelling out thousands for veterinary care to treat complex illnesses and keep their pets alive for longer.
Bloomberg reporters Brendan Case and Nacha Cattan join this episode to give an expansive view of the industry, including how new diagnostic tools and medications are extending pet lifespans—and wearing down owners’ wallets.
Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK
Have questions or comments for the team? Reach us at bigtake@bloomberg.net.
This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producer: Rebecca Chaisson, Associate Producer: Sam Gebauer. Sound Design/Engineer: Gilda Garcia.
See omnystudio.com/listener for privacy information.
The Five Countries Acting as Economic ‘Connectors’ in a Fragmented World
Tensions continue to grow between China and the big economic powers in Europe and the United States. Russia’s invasion of Ukraine and the war between Israel and Hamas are adding global uncertainty. As new geopolitical fault lines form, some nations are emerging as winners, according to an analysis of trade and investment data by Bloomberg Economics and Bloomberg Businessweek.
Bloomberg’s Maeva Cousin and Shawn Donnan join Scarlet Fu to walk through the findings, discussing the five winners and what’s happening there.
Read more: These Five Countries Are Key Economic ‘Connectors’ in a Fragmenting World
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Have questions or comments for the team? Reach us at bigtake@bloomberg.net.
This episode was produced by: Federica Romaniello and Sam Gebauer. Sound Design/Engineer: Raphael Amsili.
See omnystudio.com/listener for privacy information.
Public Transit in the US Is About to Get Worse
If you’ve suffered the slights of US public transportation in recent years, brace yourself for more grief. Transit agencies across the country have been grappling with reduced ridership and revenues since the pandemic. By next year, billions of dollars in emergency aid is slated to dry up, making matters that much worse. Budget shortfalls are likely to affect millions of Americans who rely on public transportation every day.
Bloomberg reporter Skylar Woodhouse joins host Scarlet Fu to discuss overburdened and underfunded public transportation agencies—including some of the country’s largest—and the financial squeeze pushing them even closer to collapse.
Read More: America’s Subways and Buses Face Deep Service Cuts as Federal Money Ends
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Elon, Inc: Grok Is Good, Actually, and a Tesla Recall
We here at The Big Take are big fans of our colleagues and friends over at the Elon, Inc podcast from Businessweek, hosted by David Papadopoulos. Please enjoy this episode, and hop on over to subscribe to their feed if you like what you hear!
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When Elon Musk announced his new AI chatbot “Grok” last month, almost everything about it looked like a publicity stunt or a vanity project or both. The product was seemingly built over a matter of months, it was only available to a small group of X users and its chief selling point was Musk’s promise it wouldn’t be constrained by the “woke mind virus.” He boasted that Grok’s chatbot was “based”—a slang term meaning unapologetically right wing—and posted fratty memes meant to emphasize Grok’s dominance over market-leading competitor ChatGPT.
None of this inspired confidence. But with Grok now available to paying users of Musk’s social media platform, the reviews are coming in. And they’re surprisingly positive. This week we are joined by Bloomberg reporter Shirin Ghaffary, who has been testing out the new chatbot and comparing it ChatGPT and Google’s Bard chatbot.
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The Big Equality Stories of 2023 – and What’s Next
The past year has been relentless for news, with indictments of a former US president, wars in Europe and the Middle East, and Earth’s hottest year on record. It was a big year, too, for equality news in the US — including headlines that corporations made good on their 2020 vows to hire more people of color.
But 2023 also saw challenges to affirmative action and access to abortion medication, and there are more questions for the year ahead. Will a diverse pool of workers hired in 2021, largely to entry-level jobs, be retained and promoted? How will working parents and especially mothers, who benefited from pandemic-era flexible work, weather shrinking childcare options? Bloomberg Equality reporter Kelsey Butler and Businessweek senior writer Claire Suddath join Nancy Cook to discuss these and other stories they’re watching.
Read more: The Fight for Equality in 2023 Is a Very Long Game
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Introducing: Bloomberg News Now
Bloomberg News Now is a comprehensive audio report on today's top stories. Listen for the latest news, whenever you want it, covering global business stories around the world.
on Apple: trib.al/Mx9TCh1
on Spotify: trib.al/T4BG8s4
Anywhere: trib.al/O4EX6BA
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The Supreme Court Is About to Have a Very Big Year
During its last two terms, the US Supreme Court and its six-member Republican-appointed supermajority showed its power to shape important policy issues that affect all Americans, bringing down significant and highly controversial rulings on abortion, student loan forgiveness and affirmative action. So what’s next?
Bloomberg Supreme Court reporter Greg Stohr looks ahead at which cases are likely to be of greatest consequence this term—spanning gun rights, reproductive rights, speech on social media and how much power federal agencies should have. And later, we look at Donald Trump’s federal prosecutions, one of which is already before the court thanks to an extraordinary request from Special Counsel Jack Smith.
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‘Union Joe’ Falls Behind Trump in Michigan Among Autoworkers
Michigan is a key swing state for next year’s presidential election – and despite Democrats controlling the state’s legislature and holding the governor’s seat, former President Donald Trump is ahead in polls.
The latest Bloomberg News/Morning Consult poll revealed that 46% of voters in the state said they would vote for Trump, and 42% backed President Joe Biden.
The Big Take podcast sits down with Bloomberg’s Wendy Benjaminson and Jeff Green to dig into the data and understand what’s happening on the ground in this key swing state.
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Who’s Ready for a Trump-Biden Rematch? Anyone?
Most American voters are dissatisfied with both President Joe Biden and his predecessor, Donald Trump. Barring any health surprises (Biden is 81 and Trump is 77) or other major twists (Trump is a defendant in four felony prosecutions), one of them is almost certainly going to win when voters go to the polls on Nov. 5, 2024. How are these two, currently unpopular candidates poised to become their parties’ presidential nominees without so much as a serious challenge?
Bloomberg Businessweek national correspondent Joshua Green talks with Nancy Cook about how voters and donors are feeling about another Trump-Biden matchup.
Read more: Who’s Ready for a Trump-Biden Rematch? Anyone? Hello?
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Why China's Richest Gen-Zs Are Flocking Home
China is facing the world's biggest exodus of millionaires and growing capital outflows. Yet at least one group is bucking the trend -- the growing number of ultrawealthy Chinese youth who are returning to the mainland.
Rising geopolitical tensions, and the perception of increasing hostility abroad toward Chinese nationals, have led children of some of China's richest people to eschew what used to be coveted overseas jobs and foreign citizenship, and recalibrate to a life at home where the mantra is “stay humble, stay quiet." Bloomberg's K. Oanh Ha and Selina Xu explain how we got here, and how it will affect US-China relations.
Read more: China’s Ultra-Rich Gen Zs Flock Home as Global Tensions Rise
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From Food to Mortgages, Being American Is Very Expensive
The cost of living in America has increased significantly since 2020, when the Covid-19 pandemic triggered a sudden deceleration of the world’s largest economy. Three years later, the spike in inflation that followed is finally easing as the US Federal Reserve aims optimistically for a soft landing.
But that doesn’t mean the price of goods and services is falling back to Earth—at least not right away. Bloomberg reporters Reade Pickert and Jennah Haque crunched the numbers to see just how much more Americans are shouldering in their everyday expenses compared with pre-pandemic levels.
Read more: Just How Bad Is the US Cost-of-Living Squeeze? We Did the Math
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Bonus Episode: Hate Crimes Surge in Wake of Gaza War
Reports of crimes targeting Jews, Muslims and Arabs have risen around the world in since the Oct. 7 Hamas attack on Israel, and the Israeli military’s retaliatory operation in Gaza. While previous conflicts in the Middle East also sparked a backlash outside the region, this time it is more intense and the wave of hate may be far from cresting, according to advocacy groups, former law enforcement officials and analysts. In this special edition of The Big Take, Stephen Carroll examines how these communities are confronting a global surge in hate speech and hate crimes.
Read more: A Wave of Hate Crime Unleashed by Israel-Hamas War Is Testing the World
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Ukraine Struggles for Weapons as Winter Nears
With winter falling in Ukraine and Russia’s war there poised to enter its third year, supporters of Ukrainian President Volodymyr Zelenskiy are nervous about whether they will have enough arms and military aid to support their defense. The conflict between Israel and Hamas has captured world attention. In the US, Senate Republicans have blocked $66 million in emergency Ukraine aid. And further out, Kyiv is closely watching the 2024 presidential prospects of Republican frontrunner Donald Trump, who has praised Russia’s Vladimir Putin and threatened to pull the US out of NATO.
To discuss the prospects for Kyiv, Bloomberg’s Kyiv Bureau Chief Daryna Krasnolutska and Alberto Nardelli, Correspondent-at-large for Europe, join Rosalind Mathieson.
Read more: Ukraine’s Struggle for Arms and Attention Gives Putin an Opening
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The US Has a Defense Supply Chain Problem
The US is selling, lending and donating weapons to its allies all over the world, but its supply chain can't keep up.
Increased demand from America's allies, along with a three-decade trend of consolidation in the defense sector, has strained the stockpile of bullets, artillery shells and other weaponry that the country itself might need in the event of a war.
The Big Take podcast sits down with Retired Army Major General John Ferrari and Bloomberg News reporter Courtney McBride to understand how the country got here and what it would take to boost production now.
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It Is Not A Good Time to Be A New Homebuyer. Anywhere
Across the globe, the housing boom is ending. In the US, a freeze is approaching, creating a barrier to entry for new homebuyers. In countries like New Zealand, Canada, Germany and France, a shortage of homes is colliding with a slowdown of new construction due to higher borrowing rates. And in the UK, landlords are bracing for pain as floating rate mortgages reset and the cost of living hits the highest level in a generation.
Bloomberg’s Kara Wetzel and Ari Altstedter join this episode for a look at how the housing market is adjusting to higher interest rates, leaving homeowners trying to keep pace and buyers struggling to enter the market.
Read more: Higher Interest Rates Are Shattering Housing Dreams Around the World
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Introducing: Elon, Inc.: Deciphering Elon Musk's Politics
We here at The Big Take wanted to introduce you to our colleagues and friends over at the Elon, Inc podcast from Businessweek, hosted by David Papadopoulos. Please enjoy this episode, and hop on over to subscribe to their feed if you like what you hear!
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This time we assess the aftermath of an especially gonzo week in the life of Elon Musk—one in which the billionaire CEO delivered the first production units of his company’s latest vehicle (the Cybertruck), weighed in on his preferred candidates for the 2024 election (neither Donald Trump nor Joe Biden) and offered a message to the chief executive of one of America’s most beloved brands (“Go f— yourself”).
Such trash talk and worse has left Musk somewhat isolated, with advertisers like Disney still avoiding his social media platform over his endorsement of an antisemitic conspiracy theory.
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How These Victims of Deepfake Pornography Found Their Harasser
This episode includes some disturbing descriptions of sexual acts and assault. If you have kids around, you might want to use headphones. And please take care when listening.
Artificial intelligence and “generative AI” tools – think ChatGPT or Stable Diffusion – have become ingrained in our daily lives as a way to make aspects of work and life easier when used for its intended purpose. But many of them are open-source and widely available, giving users free rein to alter publicly available photos of people – including images taken from social media – to depict events that never happened in real life.
These images are called “deepfakes” and increasingly, they’re being altered in sexually explicit ways and posted online without consent. While the photos are fake, the harm inflicted is real.
Bloomberg’s Olivia Carville and Margi Murphy join this episode to describe the fallout when deepfake creators use AI to alter images and videos. Despite the harm to victims, there is little legal recourse under US law.
Read more: No Laws Protect People From Deepfake Porn. These Victims Fought Back
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While The World Watches Gaza and Ukraine, The Pentagon Eyes China
The world's attention has been on the pause in fighting between Israel and Hamas, as well as the ongoing war in Ukraine. But US military planners and strategists are laser focused on China’s military capability and the possibility of a Taiwan invasion.
Bloomberg’s Peter Martin joins this episode to talk about what Pentagon officials are watching for and whether China’s warfighting capabilities can match its substantial buildup of military hardware.
Read more: Can China Fight? The Russia-Ukraine War Offers Warnings
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How HOA Fees and Fines Add to the US Housing Affordability Crisis
Nearly 80% of new homes built for sale in the US are in homeowners’ associations, or HOAs, or similar communities, which are governed by a board charged with keeping up shared spaces.
HOAs maintain an often strict code to create an idyllic landscape across a neighborhood intended to protect property values. And for that, they charge monthly dues ranging from hundreds to more than $1,000. On top of that, seemingly small violations can draw big fines. About 20 states allow HOAs to claim the property, even over the bank, if an owner is behind on fees or fines.
The Big Take podcast shares the story of a family that bought a new home in an idyllic HOA community, only to face foreclosure after falling behind on HOA fines and fees.
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A Pause Holds In the Israel-Hamas War
Bloomberg’s Israel Bureau Chief Ethan Bronner and contributor Fadwa Hodali join host Rosalind Matheison for the latest on the truce between Israel and Hamas as negotiations continue over the release of hostages in Gaza and Palestinian prisoners in Israel.
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What Comes Next in China's Property Crisis
China's real estate market was once valued at more than $50 trillion. It made up a full quarter of the country's entire economy and made millions of people really rich. Now, it's in tatters, and upending hundreds of thousands of lives.
In this episode, Bloomberg's Lulu Chen and Janet Paskin zoom in on the story of Huailan - a 35-year-old mother of two in North East China - and how her life took a sharp turn when Country Garden, China's biggest developer, defaulted.
Read more:
China Drafts List of 50 Property Firms Eligible for Funding
China’s Property Crisis Is Upending Tens of Thousands of Lives
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The Economy Is Up But The Middle Class Is Down
Bloomberg reporters Shawn Donnan and Claire Ballentine join this episode to discuss the results of a new Harris Poll for Bloomberg News, which found that the US Federal Reserve’s rapid increase in interest rates—aimed at fighting inflation—have more middle-class Americans worried about the economy than a year ago, even amid near-record employment.
Read more: Middle-Class Americans Are Rattled by Fed’s Fight Against Inflation
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Team Favorite: Massive Wind Turbines Are Rising From The Atlantic Ocean
We’re taking a break today for the Thanksgiving holiday. Here’s a favorite episode from August that you might have missed. We’ll be back on Monday with a new episode. Have a great weekend. And thanks for listening!
America’s first major offshore wind farm in the Atlantic Ocean is now under construction 15 miles south of Nantucket, off the coast of Massachusetts. Once complete, the 800-megawatt project is expected to generate enough electricity to power 400,000 homes. But with inflation and rising interest rates stifling progress on some other wind projects, will the Biden administration reach its 2030 goal of generating 30 gigawatts of power from offshore turbines?
Bloomberg’s Will Wade went out to see the Massachusetts project, and he joins this episode to explain the promise–and the problems–of erecting wind power on such a large scale. And Nick Schulz, a commercial diver working on the project, describes what it's like to build a massive turbine installation in deep water.
Read more: Atlantic’s Biggest Offshore Wind Turbine to Rise Next Week in US
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Team Favorite: The K-Pop Mogul Behind BTS Brings His Winning Formula To The US
We’re taking a break today for the Thanksgiving holiday. Here’s a favorite episode from October that you might have missed. We’ll be back on Monday. Thanks for listening!
Bloomberg’s Lucas Shaw and Sohee Kim join this episode to talk about Bang Si-Hyuk, South Korea’s enormously successful music mogul. The billionaire has built a K-pop empire with bands like BTS and New Jeans, and he’s now looking to expand on that model with a new, global act based in the US.
Read more: The K-Pop Mogul Behind BTS Is Building the Next BTS
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Team Favorite: There’s A Lot You Don’t Know About The US Space Force
We're taking a break this week for the Thanksgiving holiday, so here's an episode you might have missed. We'll be back on Monday with a new episode.
The US Space Force, established in 2019, is the first new branch of the military to be created since 1947, and its mission is vast: defend US interests in space. But what exactly is the Space Force? And what does defending US interests in space mean or look like practically?
As the nearly $900 billion defense spending bill winds its way through Congress, Wes went to the Pentagon to sit down with General David Thompson, the Vice Chief of Space Operations to learn what US interests in space are, and how the branch is developing.
Bloomberg cybersecurity reporter Katrina Manson joins later to describe her visit to Space Command in Colorado and the importance of the US keeping a watch on its adversaries in zero gravity.
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This episode originally aired on 7/26/23.
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Team Favorite: NYC Tries Supervised Release Instead Of Jail. Other Cities Are Watching
We're taking a break this week for the Thanksgiving holiday, so here's an episode you might have missed. We'll be back on Monday with a new episode.
Hundreds of thousands of people charged with crimes in the US each year are incarcerated while they await trial. Often it’s because they can’t afford to pay bail. New York City’s pretrial supervised release program aims to change that. A judge can opt to release some defendants under the supervision of a caseworker, who monitors their progress as they await their day in court. Bloomberg’s Fola Akinnibi and Sarah Holder join this episode to talk about how the program works, the fraught politics around it–and why it may become a blueprint for other cities and states.
Read more: America Is the World Leader in Locking People Up. One City Found a Fix
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This episode originally aired 9/25/23.
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Team Favorite: Despite Recession Fears, Small Businesses Keep Opening. Can They Survive?
We're taking a break this week for the Thanksgiving holiday, so here's an episode you might have missed. We'll be back on Monday with a new episode.
Even with a looming recession, high interest rates and a tight labor market, small businesses have been opening at record rates over the last few years, surpassing pre-pandemic levels. They’ve also been the primary driver of job creation in the US. Bloomberg reporter Enda Curran dug into why small businesses are having a moment—and the challenges owners are facing in this uncertain economy. Plus, meet the owners of a bakery and a microbrewery who discuss how they’ve been keeping their businesses afloat.
Read more: The Pandemic Small-Business Boom Is Fueling the US Economy
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This episode originally aired on 10/2/23.
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Big Take News Wrap: Shutdown Averted. Trump Legal Battles. 2024 Race
Catch up on some of the week’s biggest US stories. Bloomberg’s Mario Parker, Megan Scully and Zoe Tillman join this episode to talk about the Congressional stopgap bill that has temporarily averted a government shutdown; the latest on Donald Trump’s legal battles; and the narrowing Republican presidential field.
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How Two-Party Politics Drives Out Moderates
Congress averted a government shutdown with days to spare. The way lawmakers did it — by leaving out deep spending cuts and relying on a bipartisan coalition to pass the bill — has already put House Speaker Mike Johnson on thin ice with some hardliners in his party.
That disdain for compromise among members of the right flank of the GOP is one of the factors that cost the previous speaker his job.
None of the infighting came as a surprise to former Representative Denver Riggleman, who served one term in Congress as a Republican for Virginia’s fifth congressional district before losing a primary challenge from a more conservative candidate.
Like many in his party, Riggleman supported small government, the Second Amendment, and border security — but he also supported legalizing marijuana and providing some exceptions for abortion.
“I was told I was a new type of Republican,” Riggleman said on the Big Take podcast.
On this episode, Riggleman shares the story of his brief and explosive tenure in congress.
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The EV Era Is Here. And China Is In The Lead
The transition from combustion engines to electric vehicles is well under way. It's a critical part of a historic transformation that will soon affect all consumers and businesses alike. In the race to dominate the market for EVs, China has been the standout as US companies struggle to become competitive.
Bloomberg’s Colin McKerracher and Malcolm Scott join host Rosalind Mathieson to dig into how the EV revolution is shaking up the global economy.
Read more: EV Market’s Surge Toward $57 Trillion Sparks Global Flashpoints
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Why Wall Street Sells So Many Car Loans That Buyers Can’t Pay Off
Bloomberg’s Paige Smith and Scott Carpenter join this episode to talk about why the subprime auto loan market is thriving—and what that means for lower-income car owners who face high interest rates and the possibility of losing their vehicles.
Read more: How Wall Street Makes Millions Selling Car Loans Customers Can’t Repay
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Elon Musk’s Neuralink Wants To Get Inside Your Head
Bloomberg’s Ashlee Vance joins this episode to talk about his exclusive reporting on Neuralink, Elon Musk’s brain implant startup that’s gearing up for its first human clinical trial.
Read more: Elon Musk’s Brain Implant Startup Is Ready to Start Surgery
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Introducing: Elon, Inc.
At Bloomberg, we’re always talking about the biggest business stories, and no one is bigger than Elon Musk.
In this new chat weekly show, host David Papadopoulos and a panel of guests including Businessweek’s Max Chafkin, Tesla reporter Dana Hull, Big Tech editor Sarah Frier, and more, will break down the most important stories on Musk and his empire. Listen wherever you get your podcasts.
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Consumer Brands Keep Getting Pulled Into Politics
What do Nike, Bud Light, Target and Disney have in common? They’re all brands that have been caught up in America’s political and culture wars. Corporations once tried to stay out of politics. Now they often find themselves under pressure from customers to take a stand on issues including racial discrimination, police violence and LGBTQ rights. And that’s sometimes led to protests and calls for boycotts.
Bloomberg Businessweek’s national correspondent Joshua Green reports that many CEOs must now weigh which poses a bigger risk to their brands—speaking up or staying quiet.
Read more: No One Understands Corporate Boycotts Like This Former Trump Researcher
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US Veterans Are Losing Their Homes As Covid Mortgage Relief Ends
During the pandemic, the US government granted millions of homeowners a temporary pause in their mortgage payments. Hundreds of thousands of military veterans were among those who participated in the program. After the pause lifted, they thought they would pick up their payments where they’d left off. For many of them, that wasn’t the case.
Bloomberg's Caleb Melby and Polly Mosendz join this episode to explain why veterans across the country have found themselves battling lenders that are threatening to foreclose on their homes—and what if anything is being done to help them.
Read more: Veterans Got a Mortgage Break. Now They're Losing Their Homes
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Previewing the Republican Primary Debate With Governor Chris Sununu
New Hampshire Governor Chris Sununu is still playing the Republican presidential primary field. With a little more than two months until the first caucus, the four-term Republican governor still hasn't made a pick. And he’s a major voice in his party — someone who some Republicans and independents wish had run for president himself. He instead chose to advise other candidates in the race.
“Republicans could be in real trouble in ’24,” Sununu told Senior Washington Correspondent Saleha Mohsin. “We lost in ’22.”
Mohsin spoke with Sununu over Zoom about the third Republican presidential primary debate and what the 2024 election means for the future of the party.
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The Junk Food Industry Finds Its Next Sweet Spot: India
Bloomberg’s Pratik Parija and Kai Schultz join this episode to discuss why the packaged food and beverage industry has its sights set on India—and what that means for the health and wellbeing of the 1.4 billion people who live there.
Read more: Junk Food's $30 Billion Opening Is India's Next Health Crisis
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The Company That Made Your Phone Wants To Make Your EV, Too
The Taiwan-based company Foxconn builds roughly two out of every three iPhones, along with the Google Pixel, Amazon Kindle, Nintendo Switch and a slew of other popular products. Bloomberg’s Reed Stevenson joins this episode to talk about Foxconn’s ambitious new goal: to become a major manufacturer of electric vehicles.
Read more: Foxconn Makes Your iPhone. Now It Wants to Make Your Electric Car
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Growing Pressure On Israel Over The Humanitarian Crisis In Gaza
Bloomberg’s Henry Meyer and Galit Altstein join this episode with an update on the Israel-Hamas war, including the growing humanitarian crisis in Gaza; calls from the US and other nations for a pause in the fighting; and the latest on negotiations to free the hundreds of hostages Hamas is holding in Gaza.
Read more: Israel’s Step-by-Step Gaza Offensive Risks Longer Deadly War
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The Man With $1.2 Trillion to Spend and an Infrastructure Plan to Sell
In November 2021, President Joe Biden signed the $1.2 trillion Bipartisan Infrastructure Act into law. That hasn’t translated into a clear political win for a president seeking reelection, though.
According to a recent Bloomberg/Morning Consult poll, only 38% of voters in seven swing states say they trust President Joe Biden to handle infrastructure, compared to 42% who trust former President Donald Trump. That’s not just bad news for Biden, it’s bad news for White House Senior Advisor Mitch Landrieu, the president’s “infrastructure coordinator.”
Senior Washington Correspondent Saleha Mohsin sat down with Landrieu for The Big Take. Landrieu discussed the challenges facing an administration that wants credit for uniting Congress on this historic investment, and how his experience in local and state government rebuilding New Orleans after Hurricane Katrina informs his approach.
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Three Guilty Pleas. Two Gag Orders. One Former President’s Legal Troubles
Bloomberg’s Zoe Tillman and Sara Forden join this episode for an update on former president Donald Trump’s ongoing legal troubles—including gag orders that restrict what he can say about cases in DC and New York, plea deals in the Georgia case by some of his former lawyers, and attempts to invoke the Constitution to remove Trump from the 2024 ballot in at least two states.
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From Poland To India, Food Security Is A Key Election Issue
Bloomberg’s Agnieszka de Sousa joins this episode to discuss why concerns about food security have become a top issue in elections around the world—including in Argentina, Poland, New Zealand and India. And food security expert Tim Benton of Chatham House talks about what can be done to relieve growing global tensions over food.
Read more: Food Is Hot Campaign Issue in Elections From Argentina to Poland
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How Washington Plays Matchmaker For The US Gun Industry
Bloomberg’s Jessica Brice and Michael Smith join this episode to talk about how and why the US Commerce Department is helping the firearms industry find overseas buyers for American-made guns.
Read more: How Hundreds of US Government Employees Became Gun Industry Sales Reps
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Taylor Swift Is A Pop Icon. And A Billionaire
Taylor Swift’s monumental success is due to her talent as a performer — as well as her business acumen. Bloomberg’s Devon Pendleton and Claire Ballentine join this episode to talk about how the pop star has taken ownership of her music, built a fiercely loyal fan base–and become a billionaire in the process.
Read more: Taylor Swift Vaults to Billionaire Ranks With Blockbuster Eras Tour
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House Republicans Finally Pick A Speaker. Who Is Mike Johnson?
On Wednesday, after a three-week battle in the US House of Representatives, Republicans voted in a new House speaker to replace ousted speaker Kevin McCarthy. Bloomberg congressional editor Megan Scully joins this episode to answer the question people inside Washington and around the US are now asking: Who is Mike Johnson?
Read more: What to Know About Trump-Backed Speaker Mike Johnson
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How Bogus Jet Engine Parts Were Sold To Airlines Around The World
Julie Johnsson and Siddharth Vikram Philip join this episode to discuss Bloomberg’s investigation into sales of airplane components with falsified documentation.
Read more: Ghost in the Machine: How Fake Parts Infiltrated Airline Fleets
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Israel Debates When—And How—To Invade Gaza
Bloomberg’s Israel Bureau Chief Ethan Bronner joins this episode to talk about the latest developments in the Israel-Hamas war.
Read more: Hostages and Hezbollah Force Israel to Rethink Gaza Ground War
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18 Wheelers. Big Open Highways. And No Driver
Bloomberg’s Thomas Black joins this episode to talk about the progress being made in developing autonomous trucks—including the 18-wheelers that deliver goods across the US. Three companies are now testing them in Texas, and trucks without drivers could be rolling down US highways as early as next year. Plus, Chris Urmson, CEO of Aurora, one of the companies testing in Texas, discusses the road to developing driverless truck technology.
Read more: Goodbye, California. Driverless Trucks Are Headed to Texas
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Putin And Xi Find The Limits Of Their ‘No Limits’ Friendship
Bloomberg’s Rebecca Choong Wilkins joins this episode to talk about this week’s meeting of Xi Jinping and Vladimir Putin in Beijing, and what it says about the complicated relationship between the two men and the nations they lead.
Read more: Will Xi Jinping’s Gamble on Vladimir Putin Pay Off?
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A Fertility Startup Is Having Some Growing Pains
Bloomberg's Jackie Davalos joins this episode to talk about Kindbody, a startup that operates fertility clinics around the US—and the challenges the company has faced as it expands.
Read more: Embryo Errors, Flooded Clinics: Kindbody and IVF's Risky Business
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The K-Pop Mogul Behind BTS Brings His Winning Formula To The US
Bloomberg’s Lucas Shaw and Sohee Kim join this episode to talk about Bang Si-Hyuk, South Korea’s enormously successful music mogul. The billionaire has built a K-pop empire with bands like BTS and New Jeans, and he’s now looking to expand on that model with a new, global act based in the US.
Read more: The K-Pop Mogul Behind BTS Is Building the Next BTS
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Israel Braces For A High Risk, High Cost Fight In Gaza
Bloomberg’s Israel bureau chief Ethan Bronner joins this episode from Tel Aviv to talk about Israel’s expected ground invasion of Gaza, and the intense diplomatic efforts by the US and other nations to avert a broader conflict in the Middle East.
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That Pink Medicine Your Kid Loves Is In Short Supply
Bloomberg’s Ike Swetlitz and Riley Griffin join this episode to discuss what’s driving the shortage of generic drugs in the US, including amoxicillin, and what can be done to restore supplies.
Read more: A Key American Plant Making Antibiotics for Kids Risks Shutting Down
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Poland’s Divisive Election Has Europe’s Full Attention
Bloomberg’s Piotr Skolimowski and Andrea Dudik join this episode to discuss why Poland’s parliamentary elections will determine the nation’s social and political standing in Western Europe.
Read more: Europe at War Can’t Ignore Poland’s Bitter Election
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Can Bob Iger Save Disney, Again?
Bob Iger, The Walt Disney Company’s hugely successful CEO, came out of retirement last November and once again took the helm of the entertainment giant. But the company, and the industry, are facing tough new challenges. Bloomberg’s Thomas Buckley joins this episode to talk about Iger’s efforts to put Disney on solid footing for the future.
Read more: Has Bob Iger Lost the Magic?
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The US Government vs. Google and Amazon
The US Justice Department’s case against Google and the case against Amazon brought by the Federal Trade Commission are considered two of the most consequential antitrust actions of the modern online era. What’s at stake for the companies–and consumers–when it comes to how we search online and what we buy?
Bloomberg’s Leah Nylen is covering these cases. She joins this episode to explain the government’s argument that the companies are stifling competition–and what Google and Amazon have to say about it.
Read more: Microsoft Considered Investing Billions in Apple Deal to Compete With Google Search
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The Devastating Hamas Attack Unites A Divided Israel
Bloomberg’s Rosalind Mathieson joins this episode to discuss the attack on Israel by Hamas, Israel’s swift military response—and concerns about the possibility of an escalating conflict across the region.
Read more: A Fractured Israel Unites Around a Singular Goal: Crush the Enemy
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Public Schools Brace For The End Of Pandemic Aid
Public schools across the US are getting ready for a financial blow next year, when $190 billion in federal pandemic aid runs out. Bloomberg’s Shruti Singh and Nic Querolo join this episode to discuss the challenges facing school districts, including teacher burnout. And Charles Ebea, a school counselor in the Bronx, New York, shares his perspective.
Read more: Pandemic Aid for Public Schools Is Running Out. That’s Leaving Districts Under Pressure
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Everyone's Hoping For A Soft Landing. A Recession Is More Likely
Bloomberg’s Chief U.S. Economist Anna Wong joins this episode to make the case for why a recession is still more likely than not.
Read more: Why a US Recession Is Still Likely — and Coming Soon
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Can AI Beat The Market? Do We Want It To?
Today on The Big Take, Bloomberg’s Justina Lee and Sam Potter take us inside how artificial intelligence is changing the way financial firms and other market players make decisions about what to buy and sell. Can AI beat the market? Do we want it to?
We also hear from Renee Yao, the founder of an investment firm that’s all in on AI.
Read more: Can AI Beat the Market? Wall Street Is Desperate to Try
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One Reason Buying A House Can Be So Hard
The US established Federal Home Loan Banks almost a century ago to make it easier for people to buy a home. Although these institutions have billions of dollars to lend, many people are still struggling to get approved for a mortgage. Bloomberg’s Heather Perlberg and Noah Buhayar join this episode to talk about why that is—and what’s being done to fix it.
Read more: Flawed US Home-Loan System Neglects the Buyers Who Need It Most
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A New Smartphone From China Has Washington On Edge
Bloomberg’s Peter Elstrom and Mackenzie Hawkins join this episode to explain why the microchip inside Huawei’s new Mate 60 Pro phone is alarming the US government.
Read more: Huawei Takes Revenge as China Catches Up on Semiconductors
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Despite Recession Fears, Small Businesses Keep Opening. Can They Survive?
Even with a looming recession, high interest rates and a tight labor market, small businesses have been opening at record rates over the last few years, surpassing pre-pandemic levels. They’ve also been the primary driver of job creation in the US. Bloomberg reporter Enda Curran dug into why small businesses are having a moment—and the challenges owners are facing in this uncertain economy. Plus, meet the owners of a bakery and a microbrewery who discuss how they’ve been keeping their businesses afloat.
Read more: The Pandemic Small-Business Boom Is Fueling the US Economy
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Shutdown Averted, McCarthy In The Hot Seat
The US narrowly averted a disruptive and costly shutdown of federal agencies as Congress passed compromise legislation to keep the government running until November 17th. House Speaker Kevin McCarthy’s embrace of the bipartisan deal has triggered a mutiny by far-right Republicans to depose him from his role.
Bloomberg Washington Correspondent Joe Mathieu is joined by Bloomberg's Jack Fitzpatrick and Laura Davison to discuss the road ahead.
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Police Are Tracking Down Suspects With Google User Data
Google is able to collect a lot of information about the people who use its products on their phones, including where they are at any given time. A growing number of police departments across the US are seeking to obtain this data from Google to help solve crimes. Bloomberg’s Davey Alba and Julia Love join this episode to weigh the pros and cons of using location data in law enforcement, and the privacy concerns it raises. And Travis Staab, a police detective in Arizona, shares how he and his colleagues have used the information to track down suspects.
Read more: Google User Data Has Become a Favorite Police Shortcut
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Megapaca Is Making Millions Off The Clothes You Toss Away
Guatemala-based Megapaca is the number one importer of used clothing from the United States. The company has seen massive success in secondhand retail in Latin America, and now they have their sights set on expanding to the US.
Bloomberg’s Adam Minter walks us through this complex, data-driven operation. And Megapaca's back-office manager Jose Rivera talks about the company’s ethos and its goal to become the leading seller of used clothing in the world.
Read more: The Massive Guatemalan Operation That Wants to Sell Americans Their Old Clothes Back
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This Cryptocurrency Wants To Scan Your Eyeball
Bloomberg’s Hannah Miller is back today to explain why Sam Altman’s Worldcoin is collecting iris scans in exchange for crypto tokens.
Read more: Worldcoin’s Eyeball-Scanning Crypto Dream Is Under Threat
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US Companies Pledged To Improve Workplace Diversity. And They Have
After the murder of George Floyd and subsequent protests in 2020, corporate America made bold promises to address racial disparities in the workplace. And they delivered. Bloomberg’s Jeff Green and Rebecca Greenfield join this episode to dig into the data about US companies’ DEI efforts.
Read more: Corporate America Promised to Hire a Lot More People of Color.
It Actually Did.
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NYC Tries Supervised Release Instead Of Jail. Other Cities Are Watching
Hundreds of thousands of people charged with crimes in the US each year are incarcerated while they await trial. Often it’s because they can’t afford to pay bail. New York City’s pretrial supervised release program aims to change that. A judge can opt to release some defendants under the supervision of a caseworker, who monitors their progress as they await their day in court. Bloomberg’s Fola Akinnibi and Sarah Holder join this episode to talk about how the program works, the fraught politics around it–and why it may become a blueprint for other cities and states.
Read more: America Is the World Leader in Locking People Up. One City Found a Fix
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Big Take News Wrap: UN General Assembly. US-Iran Prisoner Swap. UAW Strike
Catch up on some of the week’s biggest stories from the US and across the globe. Bloomberg’s Rosalind Mathieson, Mario Parker and Ben Sills join this episode to talk about the major issues on the table at the United Nations meeting in New York; the Biden administration’s push for a deal between Israel and Saudi Arabia; and the ongoing US auto workers strike.
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Geopolitics Is Shaking Up Economic Alliances
Bloomberg’s Shawn Donnan and Maeva Cousin join this episode to explain how rising political tensions around the world are leading to a re-ordering of trade and commerce into rival economic blocs.
Read more: The Global Economy Enters an Era of Upheaval
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Here's How Workers Describe Dollar General. Brace Yourself
The Dollar General retail chain has 19,000-plus locations, more than Walmart and Wendy’s combined. Its business model is to open in towns too small to support bigger retailers, sell necessities at low prices and keep staff to a minimum, sometimes as few as one or two people per shift. This bare bones approach has led to profits but also numerous OSHA citations and millions of dollars in proposed fines against the company since 2017.
Bloomberg reporters Josh Eidelson and Brendan Case join this episode to talk about their reporting on Dollar General, what current and former employees say about what it’s like to work there–and how the company has responded.
Read more: Why Dollar General Might Just Be the Worst Retail Job in America
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It’s Tough Being A Blue City In A Red State
Bloomberg Businessweek national political correspondent Joshua Green joins this episode to describe a political phenomenon that’s emerging in parts of the US: red states encroaching on blue cities. In Nashville, Austin and elsewhere, Republican legislatures have successfully used supermajorities to block liberal reforms and enact conservative policies.
Read more: The Hostile Takeover of Blue Cities by Red States
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What Do Striking US Auto Workers Want?
On Friday, US auto workers started an unprecedented strike against all three of the legacy Detroit carmakers. If the standoff isn’t resolved quickly, it could ripple through the US economy.
Bloomberg’s Detroit Bureau Chief David Welch joins this episode to talk about what the union is demanding–and whether the companies will give them what they want.
Read more: How Auto Executives Misread the UAW and Ignited a Historic Strike
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India Flexes Its Growing Global Power
There were many global issues on the table at the G-20 summit in New Delhi. But arguably the real center of attention at the India meeting was India itself–and the ambitious agenda of Prime Minister Narendra Modi. Bloomberg’s Sudhi Ranjan Sen and Daniel Ten Kate join this episode to discuss what came out of the gathering of leaders—and how India is asserting itself on the world stage.
Read more: India’s Moment Has Arrived, and Modi Wants a New Global Order
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Low Pay, Long Hours, Rude Customers. Retail Workers Have Had It
Retail work has always been hard – long hours and weekend shifts on your feet, a lower pay scale and dealing with disgruntled customers. But in our post-pandemic economy, those issues have only been amplified with shoppers behaving badly and wages not keeping up with inflation, while employees take on ever-expanding roles. As a result, many workers are deciding the job just isn’t worth it.
Bloomberg’s Devin Leonard and Rebecca Greenfield explain the decline of retail workers’ sense of value and respect that is leading them to quit in droves. And retail reporter Olivia Rockeman talks about the broader challenges facing brick and mortar stores as they try to compete with growing online sales.
Read more: US Retail Workers Are Fed Up and Quitting at Record Rates
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Carbon Capture’s Make Or Break Moment
Since the 1970s, carbon capture and storage (CSS) has been held up as one potential tool to help combat global warming. The idea is to capture carbon dioxide released in the production of fossil fuels like coal, oil and natural gas, and store it deep underground–instead of letting it escape into the atmosphere. But despite billions of dollars spent, the technology hasn’t quite lived up to expectations. Bloomberg’s Stephen Stapczynski and David Stringer report that now is the make or break time for carbon capture to prove its worth, and they join this episode to talk about whether it’s up to the challenge of slowing climate change.
Read more: Big Oil’s Climate Fix Is Running Out of Time to Prove Itself
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‘Made In Mexico’ Is The New ‘Made In China’
For decades, companies looking to lower costs have resorted to offshoring—moving their manufacturing to China and other nations in Asia. But US-China tensions and a desire to simplify long, complex supply chains are now leading a growing number of businesses that serve US customers to do the reverse—“nearshoring.” They’re relocating some or all of their operations to Mexico.
Bloomberg’s Maya Averbuch and Leda Alvim join this episode to talk about Mexico’s manufacturing boom in everything from electric vehicles to baked goods—and why it’s a critical moment for the country’s economy.
Read more: Mexico’s Moment: The Biggest US Trading Partner Is No Longer China
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Companies Are Pressing Return-To-Office. Workers Want To Stay Remote.
By now, most people across the globe have returned to pre-pandemic routines like traveling and going to the movies. But when it comes to where they work, many remote employees want to leave their offices in the past. Bloomberg’s Matthew Boyle joins this episode to discuss companies’ ongoing battle to lure employees back to in-person work, and where the return-to-office movement has gained the most traction around the world.
Read more: Return-to-Office Is a $1.3 Trillion Problem Few Have Figured Out
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A Street Drug From Syria Is Alarming The US And Europe
A cheap, illegal amphetamine called captagon is raising alarm around the globe after circulating for years in the Middle East. The US and its allies say much of the world’s supply of captagon is made in Syria–and that the government of President Bashar Al-Assad is using captagon sales abroad to cushion the financial blow of Western sanctions on Syria.
Bloomberg’s Sam Dagher and Samy Adghirni join this episode to describe captagon’s rise from 1960s German pharmaceutical to pervasive street drug, and why European officials are so concerned about a possible influx within their borders.
Caroline Rose, Director of the Captagon Trade Project at the New Lines Institute explains how the US is responding to the spread of captagon.
Read more: ‘Poor Man’s Cocaine’ Costing $3 a Pill Threatens to Proliferate
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Abandoned Electric Cars ‘As Far As The Eye Can See’
Growing sales of electric vehicles around the world have also come with growing pains. In China, outdated models no one wants pile up in vast EV graveyards. In Norway, tax breaks for electric car buyers have been so successful that the government faces a revenue shortfall.
Bloomberg’s Linda Lew and Businessweek contributor Willem Marx join this episode to talk about the upsides—and downsides—of the EV boom. And Oslo city councilman Eivind Trædal explains why electric cars can sometimes make the problem of traffic-clogged streets even worse.
Read more: China’s Abandoned, Obsolete Electric Cars Are Piling Up in Cities
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Want To Leave Apple For Android? Good Luck
The Apple “ecosystem” has tremendous appeal – sleek design, genius marketing and a myriad of products and services that are seamlessly compatible. This makes users feel at ease within its closed circuit.
Unless they want to try something else.
Bloomberg reporter Austin Carr decided to scale Apple’s walled garden to see if the grass was greener in the Android and Windows world. But his attempts to transfer his photos, messages and contacts to his new devices turned into a maddening, months-long saga. In this episode Austin details his experience– and explains why Apple put up those walls in the first place.
Read more: iQuit: My Hellish Attempt to Leave Apple’s Walled Garden
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The Women Astronauts Who Shattered The Highest Glass Ceiling
In 1978, NASA opened its astronaut training program to women. Bloomberg space reporter Loren Grush recounts their challenges and achievements in her new book The Six: The Untold Story of America’s First Women Astronauts. She joins this episode to talk about the extraordinary careers of Sally Ride, Judy Resnik, Anna Fisher, Kathy Sullivan, Shannon Lucid and Rhea Seddon—and the mark each astronaut left on the history and future of space exploration.
Read more: How NASA Chose Its First Woman In Space
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TEAM FAVORITE: Dust Off Your Dice–Dungeons & Dragons Is Back
We're taking a break for the Labor Day Holiday in the US, so here's a favorite you might have missed. We'll be back at it tomorrow with a new episode.
The tabletop roleplaying game Dungeons & Dragons is approaching its 50th anniversary and it has never been more popular, attracting players of all ages to its analog charms. Now Hasbro, the toy company that owns it, is betting D&D can be brought into the digital age and become a big moneymaker.
Bloomberg correspondent Felix Gillette joins this episode to talk about why Dungeons & Dragons is having a cultural — and economic — moment, and why it might not be so easy to persuade diehard fans to pay for a digital experience. Also, gaming retail store owner Lauren Bilanko shares what it’s like to run a business that caters to the D&D crowd.
Read more here: Dungeons & Dragons’ Epic Quest to Finally Make Money
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This episode originally aired in April 2023.
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TEAM FAVORITE: India Weighs An Historic Expansion of Marriage Rights
We're taking a pause this week to recharge our batteries. Here's one we love that you might have missed. We'll be back with fresh episodes next week.
Earlier this year, India’s Supreme Court heard arguments on whether to legalize same-sex marriage. A verdict is expected in the fall.
Bloomberg reporters Muneeza Naqvi and Kai Schultz join this episode from New Delhi to explain India’s rapid march toward affirming rights for LGBTQ people, and how a ruling in favor of same-sex marriage would be felt not just within the country but across Asia and beyond.
Then, Gurchaten Sandhu, program director at the International Lesbian, Gay, Bisexual, Trans and Intersex Association in Geneva takes a step back to talk about which countries have advanced marriage equality and where it is still outlawed.
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This episode originally aired in March 2023.
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TEAM FAVORITE: A Gun That Knows Who’s Pulling The Trigger
We're taking a pause this week, so here's a favorite episode you might have missed. We'll be back next week with some fresh episodes.
For decades, inventors have tried and failed to make a smart gun. A company called Biofire now appears to have pulled it off. It uses both fingerprint scans and facial recognition so that only a registered user can fire it.
But will anyone buy it? Will this technology become yet another point of contention between pro and anti-gun groups? Firearms advocates have long been skeptical of biometric weapons but they’ve also never run across one that actually worked.
Bloomberg reporter Ashlee Vance joins this episode to talk about Biofire’s new smart gun, how it works, and what it’s like to use. We also hear from Biofire’s 26-year-old CEO Kai Kloepfer, who started working on the gun after the mass shooting in his home state of Colorado, when he was 15-years-old.
Read the story: https://bloom.bg/43DMVBH
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This episode originally aired in April 2023.
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TEAM FAVORITE: Summer Heat Is Straining The US Power Grid. Winter Cold Could Be Worse.
We're taking a break this week, so here's a favorite you might have missed. We'll be back with fresh episodes next week.
Record temperatures in Texas and across the southern US this summer put immense strain on the electric grid, as residents battled the heat by cranking up the AC. But experts say grid pressure could get even worse this winter. Bloomberg’s Naureen Malik joins this episode to discuss whether America’s infrastructure can support an increasingly electrified economy—and what can be done to avoid mass blackouts in the coming months.
Read more: America’s Biggest Power Source Wasn’t Built for Extreme Weather
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This episode originally aired in June 2023.
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TEAM FAVORITE: Chatbots And Deepfakes Are Coming For Your Election Cycle
We're taking a pause this week, so here's a favorite episode you might have missed. Thanks for listening. We'll be back with new episodes next week.
As the saying goes: a lie gets halfway around the world before the truth has a chance to put its pants on. As AI is increasing productivity across industries, it’s also raising concern about how to regulate its output and keep it from putting many of us out of work. And as the next campaign season approaches, another question comes into focus: What about its potential to quickly create and spread misinformation about political rivals?
Bloomberg’s Laura Davison and Emily Birnbaum raise the curtain on the little regulated and largely vexing ability to disseminate political hay and deepfakes via a chatbot.
Read more: AI Is Making Politics Easier, Cheaper and More Dangerous
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This episode originally aired in July 2023.
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TEAM FAVORITE: How A Satellite Hack Became a Cybersecurity Wakeup Call
We're taking a break this week, so here's a favorite episode you might have missed. Thanks so much for listening. We'll be back with new episodes next week.
People around the world rely on satellites for their internet connections, credit card transactions–and even to keep track of time. Last year, a suspected Russian-led satellite hack exposed how vulnerable they are to security breaches, from individual hackers seeking to pilfer information for profit and governments looking to weaken their adversaries.
Bloomberg reporter Katrina Manson joins this episode to discuss the fallout of the hack, and what companies and governments are doing to harden their systems against future attacks. Plus, James Pavur, a hacker and Pentagon cybersecurity expert, walks us through how satellites are compromised, and what we can do to keep our own data from being stolen.
Read more here: The Satellite Hack Everyone Is Finally Talking About.
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This episode originally aired in March 2023.
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Xi Jinping’s Economic Plan: Let China Struggle
China’s economic slowdown is catching the attention of countries around the world as they brace for a possible hit to their own economies. Bloomberg’s Rebecca Choong Wilkins and Tom Hancock discuss why President Xi Jinping is avoiding a big stimulus package and instead allowing China’s economy to run “cold”—and how long it may take to turn things around.
Read more: Run It Cold: Why Xi Jinping Is Letting China’s Economy Flail
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Why Is The US Dependent On Russian Uranium?
About half of the enriched uranium that nations around the world use for nuclear power comes from Russia. It supplies almost a quarter of America’s 92 nuclear reactors and dozens of other plants across Europe and Asia. The US is now trying to change that with a big push to build up its own capabilities. Bloomberg’s Jonathan Tirone and Will Wade join this episode to talk about what it will take for the US and its allies to free themselves from Russian uranium.
Read more: The Manhattan Project to Wean the World Off Russian Uranium
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This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producer: Federica Romaniello, Associate Producer: Zaynab Siddiqui. Sound Design/Engineer: Gilda Garcia.
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Chris Christie's Anti-Trump Strategy: Act Like Trump
Donald Trump says he’ll be a no-show tonight at the first Republican debate of the 2024 US presidential campaign. Still, at least one of his rivals for the party nomination is expected to take square aim at the former president: Chris Christie. The former New Jersey governor who once supported Trump is now his loudest Republican critic. So far, his low ranking in the polls suggests that attacking the most popular man in the party is not the way to win over Republican voters. But does Christie really have his eye on the White House, or does he just hope to stop Trump from moving back in?
Bloomberg Businessweek national correspondent Joshua Green has been following Christie on the campaign trail, and he joins this episode to answer the question on the minds of Republicans across the country: What does Chris Christie really want?
Read more: Chris Christie Is Absolutely, Totally 100% Anti-Trump. For Now
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This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Michael Falero. Sound Design/Engineer: Gilda Garcia.
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The Latest AI Scams Look And Sound Just Like You
By now we’re familiar with the many ways hackers and scammers try to fool us into handing over our personal data–and our money. But the thieves keep getting more sophisticated. And now they have a powerful new tool at their disposal: artificial intelligence, which can mimic websites, financial documents and even our faces and voices. In this episode, Bloomberg’s Nabila Ahmed and Adam Haigh talk about the new wave of financial fraud that’s taking shape–and how banks and governments are racing to keep up.
Read more: Deepfake Imposter Scams Are Driving a New Wave of Fraud
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Massive Wind Turbines Are Rising From The Atlantic Ocean
America’s first major offshore wind farm in the Atlantic Ocean is now under construction 15 miles south of Nantucket, off the coast of Massachusetts. Once complete, the 800-megawatt project is expected to generate enough electricity to power 400,000 homes. But with inflation and rising interest rates stifling progress on some other wind projects, will the Biden administration reach its 2030 goal of generating 30 gigawatts of power from offshore turbines?
Bloomberg’s Will Wade went out to see the Massachusetts project, and he joins this episode to explain the promise–and the problems–of erecting wind power on such a large scale. And Nick Schulz, a commercial diver working on the project, describes what it's like to build a massive turbine installation in deep water.
Read more: Atlantic’s Biggest Offshore Wind Turbine to Rise Next Week in US
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Are Tensions Easing Between The US And Iran?
The US and Iran recently announced a surprise agreement: Both nations will release prisoners, and the US will unfreeze billions of dollars in Iranian oil revenue. Bloomberg’s Courtney McBride joins this episode to discuss what we know about the terms of the deal, and what it suggests about the possibility of renewed negotiations over Iran’s nuclear program. Plus, Ali Vaez, Iran Project Director at the International Crisis Group, weighs in on what’s ahead for the Iran-US relationship.
Read more: Iran Transfers US Citizens From Prison in Step Toward Deal
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What’s Behind Washington’s Sudden Fascination With UAPs?
The recent congressional hearing on unidentified aerial phenomenon–also known as UAPs– gave a high-profile platform to what we used to call UFOs. But why now–and was this a substantive government inquiry or a summertime Washington diversion?
Bloomberg’s Roxana Tiron and Megan Scully join this episode to make sense of the hearing and claims that UAPs may pose a threat to national security. And astronomer Seth Shostak gives his view of theories that some UAPs may be alien spacecraft.
Read more: Close Encounters With UFOs Described to Congressional Committee
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Trump Faces A Powerful Anti-Corruption Law In Georgia
Donald Trump was indicted on Monday for the fourth time since he left office. But this sweeping case, which zeroes in on Trump’s efforts to overturn the 2020 election in Georgia, is different from the other criminal cases brought against him in New York, Florida and Washington, DC. Most notably: the former president has been charged under racketeering laws often associated with efforts to prosecute mobsters. And some of Trump’s closest aides are also charged in the 41-count indictment, including his former lawyer Rudy Giuliani and former White House chief of staff Mark Meadows, along with 16 other people.
Bloomberg’s Zoe Tillman and Erik Larson join this episode to talk about how the case will unfold from here–and why Trump will have a harder time securing a pardon–or avoiding prison–if he’s convicted.
Read more: Trump’s Fourth Indictment: Five Ways Georgia Is Different
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Avoiding War With China Is The Top Issue In Taiwan's Election
Taiwan’s current Vice President, Lai Ching-te, leads the polls in the upcoming January presidential election. The winner will have a lot to contend with–and at the top of the list is how to keep the peace with China amid rising tensions. Bloomberg Businessweek editor Joel Weber sat down with Vice President Lai for several wide-ranging interviews in Taiwan.
Joel and Taipei deputy bureau chief Cindy Wang join this episode to talk about the challenges the next president will face in preserving a democratic Taiwan, and public concerns about the possibility of military conflict with China.
Read more: Taiwan’s Election Is All About War
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Worrying About Money Is A Great Equalizer In America
You might think America’s top 10 percent would consider themselves rich – but a new Bloomberg survey finds that many of them don’t feel that way. Bloomberg’s Craig Giammona and Claire Ballentine join this episode to share what they learned when they asked people across the country a simple but not-so-simple question: How rich or poor do you feel today? Plus, Yale social psychologist Michael Kraus discusses how perceptions of wealth shape our well-being, sense of self and relationship to others.
Read more: Miami to Austin, Where Your Paycheck Would Go Further
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Big Take News Wrap: 2024. Drones In The Black Sea. A Bumpy Global Economy
Catch up on some of the week’s biggest stories from the US and across the globe. Bloomberg’s Marc Champion, Courtney McBride and Jordan Fabian join this episode to discuss the latest on the US presidential race and the coming Republican debates; rising tensions in the Black Sea; and the uneven global economic recovery. Plus, the stories they’ll be keeping a close eye on in the weeks ahead.
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A New Housing Development With A Firm Rule: No Cars Allowed
Real estate planners often think about how to reduce a project’s carbon footprint. A new apartment complex under construction in Arizona is taking that idea one step further. Culdesac Tempe is designed to be entirely car-free. And not just for the good of the climate but as a lifestyle choice for people who want to get rid of the hassle and expense of a car-centric existence. But will large numbers of people really choose to ditch their cars altogether? Bloomberg’s Ira Boudway went to Arizona to find out.
Read more: This Development Wants Residents to Ditch Their Cars. In Phoenix.
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Tesla Owners Love Their Cars. They're Not That Into Elon Musk
When Tesla built the Model 3 — the first electric car for the masses — it was a breakthrough for the company and the start of a new chapter for the auto industry. A lot has changed since then, so Bloomberg rebooted a survey of 5,000 owners to ask how things held up. This time, their answers had a lot to do with the man behind the cars. Bloomberg’s Tom Randall shares some key takeaways from this new survey.
Read more: Tesla Owners Have Soured on Elon Musk, But Still Love Their Model 3s
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The US Lures Top Companies From Allies With 'Made In The USA' Push
The Inflation Reduction Act has given the US an edge in future manufacturing, with billions of dollars in incentives to lure battery plants and chip makers to the US. But it’s also led to tension with close allies that can’t match the amounts the US is offering companies. Bloomberg’s Brian Platt, Gabrielle Coppola and Enda Curran join this episode to talk about how this competition—and the race to keep up with China—is reshaping the global green economy.
Read more: Subsidy Wars Heat Up With US Allies Forced to Pay Up or Lose Out
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In Hollywood, Fears of AI Scripts Performed By AI Actors
Three months into the writers’ and actors’ strike, the role of artificial intelligence in Hollywood has emerged as a central issue in the dispute between studios and creatives. Bloomberg’s Lucas Shaw joins this episode to discuss how studios are already using AI—and why writers and actors are so concerned about what it means for their livelihoods.
Read more: AI in Hollywood Has Gone From Contract Sticking Point to Existential Crisis
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New Technology Is Here To Fight Climate Change. Will We Use It?
Despite global efforts to slow the effects of climate change, July was the hottest month on record in over 125,000 years. The good news is, powerful new technology not available just a few years ago can help turn things around, if we get serious about taking action. Bloomberg’s Eric Roston, Zahra Hirji and John Ainger join this episode to discuss what it will take—and how much it will cost—to stop the warming of the world.
Read more: An Overheating Planet Requires Extreme Climate Solutions
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Trump’s Back In Court On New Criminal Charges. Now What?
Donald Trump is expected to appear today in federal court in Washington, DC, where he faces criminal conspiracy charges that allege he interfered with the 2020 presidential election. It’s the third criminal case against the former president. Bloomberg’s Sara Forden and Zoe Tillman discuss what they’ll be watching for in the courtroom, as well as how Trump’s legal peril will shape his campaign in the weeks and months ahead.
Read more: Trump Prepares for First Court Date in DC on New Federal Charges
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Kevin McCarthy Gave Right Wing Members More Power. They're Using It
In early January, after a grueling 15 rounds of voting, House Speaker Kevin McCarthy negotiated some concessions with members of the far-right Freedom Caucus – more congressional power in exchange for their votes – to secure his speakership. McCarthy is now feeling the squeeze of their influence in several battles consuming the House. Bloomberg’s Megan Scully and Billy House join guest host Craig Gordon for a play-by-play of how the Freedom Caucus is exerting their brawn.Read more: McCarthy Ramps Up Talk of Potential Biden Impeachment
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A ‘Great Reset’ Is Shifting How The World Trades
In what’s being hailed as a ‘Great Reset,' how the world does business looks very different now than it did before Covid. Bloomberg Markets magazine sent reporters all around the globe to see what the new order of global trade looks like on the ground. Bloomberg’s Brendan Murray, Malcolm Scott and Jenny Leonard join guest host Rosalind Mathieson to discuss what they found.
Read more: War, AI and Climate Change Shake Up $32 Trillion in Global Trade
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The EU Is Leading The Charge On AI Regulation
The European Union became one of the first in the world to take wide-reaching action to regulate artificial intelligence when it passed a draft law in June. The proposal would put new guardrails around the use and development of artificial intelligence, including curbing the use of facial recognition software and increasing ChatGPT’s transparency. Bloomberg’s Jillian Deutsch joins guest host Rosalind Mathieson to talk about how the EU pulled ahead in the race to regulate AI, and why concerns are growing about AI being overregulated. Columbia Law School Professor Anu Bradford discusses what the global effect will be if this far-reaching regulatory framework is enacted into law.
Read more: Big Tech Wants AI Regulation — So Long as Users Bear the Brunt
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Biden Still Wants To Tackle Student Debt After The Supreme Court's Ruling
The Biden administration is preparing a new plan to cancel debt for some student loan borrowers, after the Supreme Court struck down its original attempt last month. Guest host Nancy Cook sits down with Democratic Senator Elizabeth Warren to ask how she’s advocating for the Biden administration’s plan B for student loan debt and why the issue has become such a hot button topic in Washington. Bloomberg’s Akayla Gardner forecasts what’s next as the political fight over student debt rages on.
Read more: Biden Administration to Forgive $39 Billion in Student Debt
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This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Michael Falero. Sound Design/Engineer: Raphael Amsili.
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Giorgia Meloni Faces Big Tests On China, Russia And The EU Economy
Italian Prime Minister Giorgia Meloni came to power with a string of superlatives. She’s the country’s first female prime minister, and she’s brought in the most right-wing government in decades. Now, nine months into her term, she faces a series of tests: on China, the war in Ukraine and a looming EU recession. Bloomberg’s Chiara Albanese and Alessandra Migliaccio join guest host Rosalind Mathieson to talk about Meloni’s rise to power and where she plans to take Italy next.
Read more: Giorgia Meloni Seeks to Cement Power by Remaking Corporate Italy
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There’s A Lot You Don’t Know About The US Space Force
The US Space Force, established in 2019, is the first new branch of the military to be created since 1947, and its mission is vast: defend US interests in space. But what exactly is the Space Force? And what does defending US interests in space mean or look like practically?
As the nearly $900 billion defense spending bill winds its way through Congress, Wes went to the Pentagon to sit down with General David Thompson, the Vice Chief of Space Operations to learn what US interests in space are, and how the branch is developing. Bloomberg cybersecurity reporter Katrina Manson joins later to describe her visit to Space Command in Colorado and the importance of the US keeping a watch on its adversaries in zero gravity.
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US-Made Guns Are Fueling Global Shootings
American-made guns are pouring into countries all over the globe, even more so after the US made it easier to export guns in 2020. Even as America’s mass shootings horrify the world and gun-crime rates rise in many of the importing countries, the US government is playing a key role as the firearm industry’s booster and concierge.
Bloomberg’s Michael Riley, David Kocieniewski and Patpicha Tanakasempipat join this episode to talk about one gunmaker, Sig Sauer. It has benefited the most from the push for more gun exports and has found a large customer base in Thailand.
Read more: How the US Drives Gun Exports and Fuels Violence Around the World
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Everytown for Gun Safety, which advocates gun-safety measures, is backed by Michael Bloomberg, founder and majority owner of Bloomberg News parent Bloomberg LP.
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Rhino Horn Poachers Are Forcing Rangers To Innovate
For years, park rangers in South Africa have tried to stop poachers who kill rhinos for their valuable horns. But it’s impossible to keep up–and rhinoceros populations have continued to fall. Bloomberg Businessweek contributor Jonathan Franklin reports that now, the rangers are taking a creative new approach to outmaneuver the poachers—and protect the animals.
Read more: A Rhino Is Worth More Dead Than Alive
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Big Take News Wrap: Biden. Trump. Ukraine. China
We’re trying something new today. Instead of bringing you just one important story, we’re rounding up some of the week’s biggest news from the US and across the globe. Bloomberg’s Nancy Cook, Craig Gordon and Rosalind Mathieson join this episode to discuss the latest from the 2024 campaign trail, the war in Ukraine and the high stakes talks between the US and China. Plus, they tell us what stories they’ll be keeping a close eye on in the weeks ahead.
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Have We Hit Peak Social Media?
Meta’s new Twitter-like social media platform called Threads is signing up users at a record pace. But will it last–and will it be a “Twitter killer”? Bloomberg Businessweek writer Max Chafkin is…skeptical. He says that after years of explosive growth, social media platforms like Twitter, Facebook and Instagram are facing big challenges. Many longtime users are spending less time each day scrolling through their feeds. Max joins this episode to talk about why people are putting down their phones and choosing to spend more time IRL.
Read more: Threads, Twitter and the No-Attention Economy
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Millions Of Americans Still Don’t Have Broadband. That’s About To Change
Seven percent of US households and businesses lack basic broadband internet. The Biden administration plans to remedy that with $42 billion in federal broadband infrastructure grants that will be split up among the fifty states and US territories. Bloomberg telecommunications reporter Todd Shields joins this episode to discuss how local governments will spend this money, and what it will take to bridge the so-called digital divide. And Christine Hallquist, executive director of the Vermont Community Broadband Board, describes the challenges of bringing broadband to rural America.
Read more: Biden Touts Billions for Broadband in Economic Pitch to Voters
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‘Battery Belt’ Factories Promise A Bright Future. Workers Need Convincing
The US Battery Belt, which stretches from Michigan to Georgia, has emerged as a regional hub for building electric vehicle batteries and other components critical to emerging technologies. But the push to bolster US manufacturing—soon to be flush with billions of dollars from Washington—is rubbing up against a shortage of skilled workers. Bloomberg reporters Mackenzie Hawkins and Reade Pickert join this episode to talk about Tennessee, a key Battery Belt state, where an education-focused plan is underway to recruit and train tomorrow’s workforce.
Read more: The US is Building Factories Again, But Who Will Work There?
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You Never Think About Your Car’s Catalytic Converter—Until Thieves Saw It Off
Catalytic converters are a vital part of emissions reduction in gas-powered vehicles. But that’s not why they’ve been making headlines. Thieves across the US have been sawing them off cars because they contain precious metals like platinum, palladium and rhodium. Bloomberg Businessweek contributor Evan Ratliff is here to tell the tale of a $500 million catalytic converter theft ring—and how local police departments and federal law enforcement brought it down.
Read more: How Cops Cracked a $500 Million Catalytic Converter Crime Ring
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Everyone’s Making Money On The Women’s World Cup—Except The Women
The world can’t wait for the 2023 Women’s World Cup, which starts later this month. Ticket sales are on track to smash records, and viewership has grown significantly since its 1991 inception. But when it comes to equity between the men’s and women’s tournaments, there’s still a long way to go. Bloomberg’s Jennah Haque joins this episode to talk about why the Women’s World Cup still lags behind the men’s tournament in pay, prize money and all-important media rights–and what’s being done to close the gap.
Read more: World Cup Turns Up the Pressure for TV to Embrace Women's Soccer
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Washington Is Knocking On Crypto’s Door
The epic crash and burn of Sam Bankman-Fried’s FTX crypto empire in November was huge global news. Eight months later, the crypto world is still feeling the after-shocks—with embarrassed celebrity endorsers, a scrubbed stadium logo and billions of dollars drained from the accounts of ordinary people.
Bloomberg’s Hannah Miller and Allyson Versprille join this episode to talk about the next big challenge for crypto exchanges: Washington. Federal agencies are taking a hard look at new regulations to police cryptocurrencies and protect investors–and taking legal action against some of the industry’s biggest players.
Read more: Crypto Gets Its Moment of Clarity, But Not the One It Wanted
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This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Rebecca Chaisson, Michael Falero and Federica Romaniello, Associate Producers: Sam Gebauer and Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.
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Chatbots And Deepfakes Are Coming For Your Election Cycle
As the saying goes: a lie gets halfway around the world before the truth has a chance to put its pants on. As AI is increasing productivity across industries, it’s also raising concern about how to regulate its output and keep it from putting many of us out of work. And as the next campaign season approaches, another question comes into focus: what about its potential to quickly create and spread misinformation about political rivals?
Bloomberg’s Laura Davison and Emily Birnbaum raise the curtain on the little regulated and largely vexing ability to disseminate political hay and deepfakes via a chatbot.
Read more: AI Is Making Politics Easier, Cheaper and More Dangerous
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Kids Were Given Cough Syrup From India. Dozens Of Them Died
For decades, India has been a top player in global pharmaceuticals. But its drug regulatory system came under scrutiny after toxic chemicals were found in Indian-produced medicine that led to the deaths of scores of children in Gambia. Bloomberg reporter Zachary Mider and contributor Swati Gupta discuss their investigation into a pharmaceutical company and the ripple effects of its supply chain across the globe.
Read more: Poisoned Cough Syrup Killed Kids. Authorities Cut the Investigation Short
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The Bumpy Road From Reagan-Thatcher To Johnson-Trump
What it means to be a conservative has changed dramatically in the decades since Ronald Reagan and Margaret Thatcher. Bloomberg Opinion’s Global Business Columnist Adrian Wooldridge argues not all of that change has been for the better. He joins this episode to talk about why he believes conservatism in the US and UK has lost sight of its roots—and what conservatives can do to find their way back.
Read more: Conservatism Is In Crisis — But Can Be Rescued
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Mattel Bets Big On Barbie's Pink Carpet Debut
She’s been an astronaut, a scientist and the president of the United States. Now Barbie is a movie star. Bloomberg’s Kelly Gilblom joins this episode to talk about Mattel’s bet that the $100 million Barbie movie debuting July 21 — and the launch of the company’s entertainment division — will revive its biggest brand, reel in new fans and help it reclaim the No. 1 spot of global toymaker.
Read more: Mattel's Risky Bet on a Feminist Barbie Movie Just Might Work
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An Expanding NATO Reinforces Itself Against Russia
This year’s NATO summit begins next week in Vilnius, Lithuania—and once again, the alliance’s response to the war in Ukraine is top of mind. Bloomberg’s Natalia Drozdiak and Niclas Rolander discuss this year’s agenda, including the implications of expanding NATO as Sweden’s membership bid hangs in the balance.
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A Frustrated Middle Class Wants More Than Promises In 2024
The American middle class is feeling the squeeze: inflation, wages that haven’t kept up, higher interest rates and fluctuating markets are all adding up to a loss of collective wealth. Bloomberg’s Shawn Donnan and a team of journalists are following the economic lives of two dozen middle class families across the country as we head into the 2024 election. In this first installment we hear from four of them. What does it mean to be middle class in America today–and how will their shifting fortunes influence the way they vote?
Read more: The US Middle Class's Economic Anxiety Will Decide the 2024 Election
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TEAM FAVORITE: Women's Pro Tackle Football Takes The Field
The Big Take team is taking a break for the Fourth of July holiday in the US, so we wanted to share this episode you might have missed. Back tomorrow!
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Bloomberg Businessweek contributor Mary Pilon joins this episode to talk about the promise–and challenges–of building a fanbase for the Women’s Football Alliance, an all-female, full-contact league that has 60 teams in four divisions across 32 states.
And we head to a nighttime practice of the DC Divas, to hear from the players and coaches about why they love the game and what it means for women to play tackle football.
Read more: Women Tackle Football With a Full-Contact League of Their Own.
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This episode was originally released May 15, 2023, and was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Michael Falero Sound Design/Engineer: Gilda Garcia.
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Summer Heat Is Straining The US Power Grid. Winter Cold Could Be Worse
Record temperatures in Texas and across the southern US are putting immense strain on the electric grid, as residents battle the heat by cranking up the AC. But experts say grid pressure could get even worse this winter. Bloomberg’s Naureen Malik joins this episode to discuss whether America’s infrastructure can support an increasingly electrified economy—and what can be done to avoid mass blackouts in the coming months.
Read more: America’s Biggest Power Source Wasn’t Built for Extreme Weather
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The Supreme Court’s Power Is Growing. The Public’s Confidence Is Shrinking
The US Supreme Court is wrapping up yet another eventful term, with decisions in major cases that will have a lasting impact on Americans’ lives. Bloomberg’s Greg Stohr and Zoe Tillman join this episode to talk about how in recent years, the high court has become more willing to assert its power and enhance its role among the three branches of government. At the same time, ethics controversies and rising public perception that the justices are sometimes overtly political have lowered confidence in the court.
Read more: An Aggressive Supreme Court Reshapes the US as Its Standing Erodes
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* This episode introduction was updated on Friday, 6/30 to reflect the two Supreme Court rulings out Friday morning.
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It Started As A Huawei 5G Bid. It Became A Mole Hunt
In 2019, telecommunications companies were vying for a lucrative contract to upgrade Denmark’s cellular network to 5G. The competition came down to two finalists: The Swedish telecom Ericsson, and the Chinese technology giant Huawei.
Then things got weird.
Bloomberg Businessweek writers Jordan Robertson and Drake Bennett are back again with another captivating investigation–this one featuring eavesdropping, a drone and the frantic hunt for a suspected leaker.
Read more: When a Huawei Bid Turned Into a Hunt for a Corporate Mole
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Germany Is Europe’s Economic Engine. It’s Starting To Sputter
For decades, Germany has been the driving force of Europe’s economy. But now, as it emerges from a winter recession, the nation’s resilience is showing signs of breaking down–and that could mean trouble for the rest of the continent. Bloomberg’s William Wilkes and Jana Randow join from Frankfurt to talk about why Germany has lost its economic edge–and what it will take to get it back.
Read more: Europe’s Economic Engine Is Breaking Down
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This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producer: Federica Romaniello, Associate Producer: Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili.
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Bringing Government Services Into The 21st Century. One Text At A Time
Millions of Americans depend on public assistance programs to help pay for food and make ends meet. But it’s not always easy for them to manage the red tape required to keep those benefits coming. Bloomberg Businessweek contributor Bryce Covert joins this episode with the story of a nonprofit called Code For America. It works with states to make navigating government bureaucracies less of a hassle. And we also hear from Code For America’s Genevieve Miller.
Read more: How Many People Does It Take for the Government to Send a Text?
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An Armed Uprising Punctures Putin’s Aura of Invincibility
Moscow is quiet again after an armed insurrection in Russia over the weekend ended as quickly as it began. But the uprising has left President Vladimir Putin weakened in the eyes of many Kremlin watchers, including US and European officials. Bloomberg’s Flavia Krause-Jackson joins this episode to talk about what this unprecedented threat to Putin’s authority means for his hold on power. And how turmoil inside the Kremlin and at the top of the military could further complicate Russia’s war in Ukraine.
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America Is Divided Over Everything...Except Chicken
Americans love beef, and always have. But when it comes to the meat they actually choose to eat, chicken takes the crown. Bloomberg’s Matt Townsend and Leslie Patton join this episode to explain how poultry came to dominate the American diet. And historian Emelyn Rude shares what the past can tell us about where the industry goes from here.
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Microsoft's Big Investment In AI Is Paying Off
Microsoft is a household name when it comes to Word docs, Excel spreadsheets and PowerPoint presentations, but it’s not the first name many people think of when it comes to cool new tech. At least until recently. The company’s big investment in OpenAI, the creator of ChatGPT, has now launched it to the forefront of tech innovation.
Bloomberg Businessweek writer Max Chafkin joins this episode to tell the story of how the company that once brought us Clippy the interactive paperclip became a power player in the new frontier of artificial intelligence.
Read more: Microsoft’s Sudden AI Dominance Is Scrambling Silicon Valley’s Power Structure
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Aging Boomers Will Need Lots Of Care. We're Not Ready
By 2030, people over the age of 65 in the US will outnumber those under 18. That’s in part because people are living longer—a testament to modern medicine. But are our health systems and social programs equipped to support so many seniors at the same time?
Bloomberg reporter Priya Anand brings us the details on a tech startup that’s trying to fill part of the void in senior care—and the challenges it’s facing. And health economist Jonathan Skinner talks about how the US can actually meet the needs of aging Baby Boomers.
Read more: Assault Allegations Plague a $1.4 Billion Home Eldercare Startup
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Canada's Ambitious Immigration Experiment, Explained
Anti-immigration sentiment has been rising on the right in many countries around the world, including the US, UK, France and Italy–even as these nations are grappling with declining birth rates and aging work forces. Canada has decided to try an entirely different approach: welcoming in large numbers of immigrants to fill key jobs and boost the economy. So, how’s it working?
Bloomberg reporter Randy Thanthong-Knight walks us through the ups and downs of this ambitious experiment.
Read more: Mass Immigration Experiment Gives Canada an Edge in Global Race for Labor
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Team Favorite: Banks Vowed To Help Black Homebuyers. What Happened?
NOTE: This episode originally aired in December 2022.
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In the aftermath of the 2008 financial crisis, some of the biggest mortgage lenders in the US promised to extend billions in new loans to Black homebuyers. That hasn’t happened. Instead, the numbers are going in the opposite direction.
Bloomberg senior economics writer Shawn Donnan joins this episode to talk about why banks have fallen short of the goal–and what it means for families across the country. Dedrick Asante-Muhammad of the National Community Reinvestment Coalition also joins to spell out what needs to be done to fix the problem.
Read more: Big US Banks Fall Short on Promises to Create Black Homeowners
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This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Michael Falero, Sound Design/Engineer: Gilda Garcia.
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Here Comes El Nino Again, And It's Packing A Punch
We’re on the cusp of a natural – but significant – shift from a cooling weather phase known as La Niña to its considerable opposite–El Niño. This change will bring warming trends globally, and many unwelcome consequences. In some parts of the world, past El Niño events brought drought that destroyed crops and added to fire risks. In other regions, it led to flooding that destroyed homes. El Niños have caused inflation spikes, sapped economic productivity, strained power grids, and driven up food prices. And the extreme heat can also create public health emergencies.
Bloomberg’s Ben Sharples and Brian K Sullivan tell us what to expect from this El Niño, and how it will impact our lives.
Read more: This El Niño Threatens New Levels of Global Economic Destruction
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This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producer: Federica Romaniello, Associate Producer: Zaynab Siddiqui. Sound Design/Engineer: Gilda Garcia.
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States Tell Cities: Yes, You’ve Got to Build Housing
America’s affordable housing shortage has been getting worse for decades. Now, some states are trying to ease this crisis by enacting what's been called a “builder's remedy.” These are rules that override local zoning laws and allow developers to build housing in cities that fail to meet state targets. It’s one of several carrots and sticks governors are wielding to pressure cities into freeing up land for development.
What will it take to build enough affordable places to live across the US? Bloomberg CityLab writers Kriston Capps and Sarah Holder highlight the pitfalls of the current housing shortage, and how states are getting creative to force change.
Read more: Housing-Strapped States Reach for a Fraught Fix: the ‘Builder’s Remedy’
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This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Michael Falero. Sound Design/Engineer: Gilda Garcia.
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Yet Another AI Blind Spot: Biased Images
As pressure mounts on lawmakers to regulate artificial intelligence, another problem area of the technology is emerging: AI-generated images. Early research shows these images can be biased and perpetuate stereotypes. Bloomberg reporters Dina Bass and Leonardo Nicoletti dug deep into the data that powers this technology, and they join this episode to talk about how AI image generation works—and whether it’s possible to train the models to produce better results.
Read more: Humans Are Biased. Generative AI Is Even Worse
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Donald Trump Faces His First Federal Charges
Donald Trump enters a Miami courtroom today to hear federal criminal charges related to his handling of classified documents that he took with him when he left the White House. The former president also faces investigations into his attempts to overturn the results of the 2020 election and whether he bears some responsibility for the insurrection at the U.S. Capitol on January 6, 2021.
Bloomberg’s Sara Forden and Zoe Tillman dive into the details of the charges against Trump—and what happens next.
Read more: Trump Indictment Highlights the Perils of Being His Lawyer
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South Korea Is Over Being Called An 'Emerging Market'
South Korea’s stock market is one of the largest in Asia. The nation is home to huge conglomerates including Samsung and Hyundai. And yet Korea is still listed as an emerging market — not a developed one — by MSCI, the investment research firm that provides influential market indexes. Korea argues it should be elevated to MSCI’s World Index, where it would sit alongside the US, UK, Germany and other developed economic powers. The company is expected to decide this month.
Bloomberg’s Youkyung Lee and Henry Ren join this episode to talk about why this move matters so much to South Korea — and why some companies and market watchers are having second thoughts about whether such a move is a good idea — or even worth it.
Read more: Why Bringing a $1.8 Trillion Stock Market to the Big Leagues Could Backfire
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BONUS: Another Cost Of Wildfires: Breathing Toxic Smoke
Cities up and down the eastern coast of the US are experiencing record levels of air pollution from the recent Canadian wildfire smoke. The worsening air quality and associated health risks recall another major set of wildfires in recent years: the Black Summer bushfires that devastated many parts of Australia in 2019 and 2020.
We're bringing you this recent episode about the bushfires, as wildfires and their health consequences become more frequent in the US, Europe, and around the globe.
Bloomberg reporters Amy Bainbridge and Angus Whitley join this episode to discuss what doctors have learned from Australia’s fires about the long-term health hazards of breathing wildfire smoke–especially for children.
Read more: Wildfire’s Toxic Legacy Leaves Children Gasping for Air Years Later
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California Creates A Reparations Blueprint For African Americans
For decades, African American activists, scholars, and elected officials have called for reparations to address the long legacy of slavery and racism in the US. Now, California is beginning to take action. The state has put together a reparations task force to make recommendations to lawmakers in this first attempt of its kind, which also hopes to serve as a template for other states.
Who would be compensated, and how much would they receive? Bloomberg’s California Bureau Chief Karen Breslau joins this episode to share her reporting on the draft details of the plan. And Kamilah Moore, who chairs California’s Task Force to Study and Develop Reparation Proposals for African Americans, talks about their efforts to put numbers on injustice.
Read more: California Puts a Price on Slavery’s Legacy and Draws a Blueprint for Reparations.
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Why Are Foreign Investors Buying Up Europe's Football Clubs?
European football is one of the world’s most popular sports, and billionaires, hedge funds, and sovereign wealth funds want a piece of it. They’re purchasing clubs, or stakes in them. But whether it’s for money, the love of the game, or positive PR—that depends on the owner. Bloomberg’s Giles Turner and Irene Garcia Perez join this episode to talk about the patchwork of club owners, and whether football is actually a winning investment.
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Early Registration, Applications, Waitlists. College? Nope. Summer Camp.
Since the 1940s, summer camp has offered adventure, lifelong friendships, and…much-needed childcare for families. But these days, it’s fraught with high prices and limited openings. Bloomberg reporter Claire Suddath and Businessweek contributor Lydia Kiesling join this episode to talk about why getting kids into summer camp has become such a pain point for many working parents.
Read more: How Summer Camp Became Such a Hot Mess for Parents
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Arab Nations Bring Isolated Syria Back Into The Fold
Syria is back in the 22-nation Arab League bloc after more than a decade of isolation. So what does this mean for countries outside the region, like the US? Bloomberg managing editor Sylvia Westall and reporter Daniel Flatley join guest host Rosalind Mathieson to talk about the impact of Syria’s reinstatement
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Crisis Averted On The Debt Ceiling. For Now
The months-long fight over raising the debt ceiling is finally over. That means the threat of the US defaulting on its debts, and the resulting economic crisis, is off the table – at least for the next two years. So what happened? And how will it shape the economy, the political climate, and future debt negotiations?
Bloomberg Congressional reporter Steven Dennis and White House reporter Jordan Fabian join guest host Nancy Cook to break down what the final agreement says and the impact it will have.
Read more: Debt-Limit Deal Clears Congress, Ending Threat of US Default
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Why Are Those AI Whistleblowers So Worried?
In two recent open letters, leaders and developers of artificial intelligence called for a pause of large AI projects to take stock of their impact. In tandem, Sam Altman, OpenAI’s CEO, went to Congress to ask lawmakers to regulate his own industry. What can be done to keep developers in check while allowing innovation to flourish?
Bloomberg AI reporters Dina Bass and Rachel Metz join guest host Craig Gordon to talk about these longtime AI whistleblowers and why the latest calls from industry leaders may be a sincere attempt to establish some rules of the road.
Read More: Microsoft Calls for a New US Agency and Licensing for AI
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This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolin\a, Senior Producer: Kathryn Fink, Producer: Rebecca Chaisson, Associate Producer: Sam Gebauer. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.
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A Debt That Could Stunt China's Economy
Hegang, a remote coal town in northern China that faced a mountain of debt, was forced to undergo an unprecedented financial restructuring. And it’s not alone. A local debt problem in some of China’s cities threatens to be a drag on the world’s second-largest economy for years to come.
Bloomberg’s Colum Murphy and James Mayger join this episode from Beijing to talk about what’s happening in Hegang and other cities, and why China’s local debt challenges may be felt well beyond its borders.
Read more: China’s $23 Trillion Local Debt Mess Is About to Get Worse
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This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producer: Federica Romaniello, Associate Producer: Zaynab Siddiqui. Sound Design/Engineer: Gilda Garcia.
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What Is Adidas Without Yeezy?
What is Adidas without Yeezy? It’s making a lot less money for starters. Last year, longtime collaborator Ye — previously known as Kanye West — finally pushed executives too far with his outbursts and a series of anti-Semitic rants. Adidas cut ties on a collaboration worth billions.
It left a gaping hole in Adidas’s profits and exposed the challenges that one of Germany’s biggest companies now faces. Bloomberg reporters Kim Bhasin and Tim Loh join this episode to walk through how it all unfolded, and where Adidas goes from here.
Read more: Adidas After Yeezy
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This Robot Wants to Make Your Lunch
Automation has crept into the way all kinds of products are manufactured, but machines have also been making inroads into a different type of industry: food services. Beyond touch screens and self checkouts taking over jobs once done by humans, restaurants and fast food chains are experimenting with robots to make your pizza and assemble your salad.
Bloomberg Businessweek contributor Elizabeth Dunn joins this episode to talk about her reporting on Sweetgreen, a salad chain that’s taking its first leap into a largely automated experience in a Chicago-area location. And restaurant reporter Daniela Sirtori-Cortina looks at the public-facing side of restaurant automation.
Read more: Sweetgreen Tests Robots to Make Faster, More Efficient Sad Desk Salads
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Team Favorite: Your Pet Is Costing You A Fortune And You Don't Care
The Big Take team is taking a knee for the holiday, so we wanted to share one of our favorite episodes. Enjoy, we'll be back tomorrow!
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The global pet economy is expected to reach nearly half a trillion dollars by 2030. After a pandemic surge in pet adoptions, more people are buying ever more expensive food and toys for their furry friends. But beyond these routine costs, a growing number of owners are also shelling out thousands for veterinary care to treat complex illnesses and keep their pets alive for longer.
Bloomberg reporters Brendan Case and Nacha Cattan join this episode to give an expansive view of the industry, including how new diagnostic tools and medications are extending pet lifespans—and wearing down owners’ wallets.
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This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Rebecca Chaisson, Michael Falero and Federica Romaniello, Associate Producers: Sam Gebauer and Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.
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The Beginning Of The End Of The US Oil Boom
The shale revolution has powered the US economy, shaken up oil markets, and shaped America’s foreign policy. That may soon begin to change as the growth in shale oil productions slows. Bloomberg Opinion columnist Javier Blas joins this episode to talk about how important the shale bonanza has been for the US, and what–if anything–can ultimately replace it.
Read more: Wall Street Is Finally Going to Make Money Off the Permian
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VPNs Promise Online Privacy. Do They Deliver?
Virtual private networks, or VPNs, first emerged in the 1990s as a way for employees to securely log in to their office computer from home. Now, VPN providers market them to people looking to protect their web searches, location, and personal data from advertisers and other prying eyes. They’re used for everything from streaming television shows to accessing websites blocked by authoritarian regimes. Bloomberg reporter Austin Carr joins this episode to talk about whether VPNs can live up to their promise to keep your online data safe and private.
Read more: VPNs Are Going Mainstream, and So Are Their Trust Issues
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China Wants The Yuan To Rival The Almighty Dollar
The US dollar is the world’s most-used currency for global transactions. Now China aims to elevate its currency as an alternative. Over the past year, President Xi Jinping's government has struck deals linked to the yuan stretching from Russia and Saudi Arabia to Brazil and even France.
Bloomberg reporter George Lei joins this episode to talk about how China’s efforts to create a rival to the dollar are going so far–and its goals for the future. And reporter Rebecca Choong Wilkins walks us through the geopolitics contributing to this currency competition.
Read more: China Takes the Yuan Global in Bid to Repel a Weaponized Dollar
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A Loud Shakeup in the Quiet World of Golf
The PGA Tour has long been the dominant force in US professional golf. But LIV Golf, an upstart backed with billions of dollars from Saudi Arabia, has lured away some top names. Can players compete in both organizations’ events? That’s the question at the heart of a court case between the two rivals. Bloomberg reporters Malathi Nayak, Erik Larson, and Ira Boudway join this episode to talk about why golfers and fans are so animated by this rivalry—and where the dispute goes from here.
Read more: Golf’s Thorniest Grudge Match Threatens the Game’s Old Order
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The Details Of Your Online Life Are Up For Auction
By now we’re all aware advertisers and apps collect data about our online lives. But the kind of information they compile about us–and the sheer amount of it–might surprise you. Dr. Johnny Ryan, an online tracking expert and senior fellow at the Irish Council for Civil Liberties, joins this episode to explain how details about where you are, where you go, and what you look at are widely distributed. And it’s not just advertisers who want to get to know you. Bloomberg cybersecurity reporter Ryan Gallagher tells us about a company in Israel that sells this data to law enforcement and intelligence agencies around the globe.
Read more: Your Ad Data Is Now Powering Government Surveillance.
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BONUS: The Reality Of Student Loan Debt
Who doesn't love a little Sunday extra?
Our team here at The Big Take wants to introduce you to the 1A Podcast, hosted by Jenn White, from WAMU and NPR. This show looks beyond the headlines to get to the heart of the story, and it's one of our favorites.
Bloomberg News collaborated with 1A this week for a series called Life and Debt. This bonus episode of 1A we are sharing is from that series, and it's all about student loan debt. As the Supreme Court is considering the fate of President Biden’s student relief plan, the pandemic-era pause on student loan payments is about to end — so where does this leave the 40+ million Americans who carry this debt?
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Another Cost Of Wildfires: Breathing Toxic Smoke
The Black Summer bushfires devastated Australia in 2019 and 2020. As wildfires become more frequent in the US, Europe, and around the globe, Bloomberg reporters Amy Bainbridge and Angus Whitley join this episode to discuss what doctors have learned from Australia’s fires about the long-term health hazards of breathing wildfire smoke–especially for children.
Read more: Wildfire’s Toxic Legacy Leaves Children Gasping for Air Years Later
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A Multibillion Dollar Bet to Make Chips In The US
Since the CHIPS and Science Act passed in 2022, the US Commerce Department has been working to create a network of research and development sites around the country, as part of the National Semiconductor Technology Center. The goal: to rebuild America’s domestic semiconductor capacity and competitiveness.
Bloomberg reporter Eric Martin breaks down the CHIPS Act and what this tech center aims to accomplish. And Dr. Sarah Kreps, a government professor and Director of the Cornell University Tech Policy Institute, looks at the geopolitics and national security interests involved in moving US chip innovation forward.
Read more: Biden Is Setting Up an $11 Billion Chips Network to Bolster US National Security.
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The G-7 Still Matters. Here's Why
This week, world leaders will convene in Hiroshima, Japan for the annual Group of Seven summit. Bloomberg executive editor Flavia Krause-Jackson and news director Rosalind Mathieson join this episode to share what they’ll be watching for—both in the public eye and behind the scenes.
Read more: China the Target of New G-7 Push Against ‘Economic Coercion’
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How Concerned Should We Be About Bird Flu?
Cases of avian flu in birds have hit record levels globally—but so far, there’s no evidence of human-to-human transmission. Bloomberg reporters Suzi Ring and Michelle Fay Cortez discuss how scientists are tracking the virus after lessons learned from Covid-19. Then, Dr. Richard Webby of the World Health Organization talks about how communities can respond to and prevent bird flu outbreaks.
Read more: Bird Flu's Surge Has Scientists Seeking Clues to Prevent the Next Pandemic
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Women's Pro Tackle Football Takes The Field
Bloomberg Businessweek contributor Mary Pilon joins this episode to talk about the promise–and challenges–of building a fanbase for the Women’s Football Alliance, an all-female, full-contact league that has 60 teams in four divisions across 32 states.
And we head to a nighttime practice of the DC Divas, to hear from the players and coaches about why they love the game and what it means for women to play tackle football.
Read more: Women Tackle Football With a Full-Contact League of Their Own.
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Introducing - Spellcaster: The Fall of Sam Bankman-Fried
Coming soon: When nerdy gamer Sam Bankman-Fried rocketed to fame as the world’s richest 29-year-old, he pledged to donate his billions to good causes. But then his crypto exchange FTX collapsed Billions of dollars were missing, and Sam was in handcuffs. Those who knew him were left wondering — who was Sam really? A well-meaning billionaire who made a mistake? Or a calculating con man? From Wondery and Bloomberg, the makers of The Shrink Next Door, comes a new story of incredible wealth, betrayal and what happens when “doing good” goes really really bad. Learn more here: https://podcasts.apple.com/us/podcast/spellcaster-the-fall-of-sam-bankman-fried/id1685258534
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A Coke Can. A Chemist. And The Chinese Government.
Bloomberg reporters Drake Bennett and Jordan Robertson join this episode to tell the wild, winding tale of Shannon You, a chemist once employed by Coca-Cola who was also in the business of stealing trade secrets–and attempting to take them to China.
Read more: The Plot to Steal the Other Secret Inside a Can of Coca-Cola.
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The US Braces For a Post-Covid Immigration Surge
The emergency restrictions on immigration that the Trump administration invoked during the COVID-19 pandemic expire tonight. The White House is now preparing for a surge of migrants crossing the Southern border seeking asylum. Bloomberg reporters Akayla Gardner and Justin Sink join this episode to talk about what the Biden administration is doing to avert turmoil. And immigration policy expert Doris Meissner makes the case for an overhaul of America’s immigration system.
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Should The Supreme Court Be Allowed to Police Itself?
US Supreme Court Justice Clarence Thomas’s failure to disclose lavish vacations paid for by a Texas billionaire have cast a harsh light on the High Court’s ethics rules—or lack of them. Bloomberg Supreme Court correspondent Greg Stohr joins this episode to talk about the fallout and why the justices are pushing back against greater disclosure rules. And Northwestern University law professor Steven Lubet explains what if anything can be done to require more transparency from the most powerful judges in the nation.
Read more: Harlan Crow Paid Private-School Tuition for Clarence Thomas’ Grandnephew, Report Says.
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Washington Is Watching Turkey’s Election—So Is Moscow
Turkey’s president Recep Tayyip Erdogan has been in power for two decades. But he now faces a challenge in the country’s May 14 elections from a candidate representing a coalition of opposition parties. Bloomberg journalists Beril Akman, Marc Champion and Sylvia Westall join this episode to talk about why this election matters not just for Turkey’s domestic future–but for the important role the nation plays on the world stage.
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Can Joe Biden Beat Donald Trump Again?
President Joe Biden surprised exactly no one when he announced he’s running for re-election. But with high inflation, an uncertain economy, turmoil on the Southern border, and roiling culture wars–along with persistent questions about his age–can Biden persuade voters he deserves a second term? Bloomberg’s Nancy Cook, Jordan Fabian and Joshua Green join this episode to size up the early stages of the presidential race, and the top-of-mind issues that will decide who’ll win the White House in 2024.
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This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producer: Rebecca Chaisson, Associate Producer: Sam Gebauer. Sound Design/Engineer: Gilda Garcia.
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Does Returning to the Moon Need To Be This…Complicated?
On April 20, the SpaceX Starship Super Heavy rocket made its first test flight. And even though it exploded after just a few minutes in flight, that doesn’t necessarily mean it was a failure. Bloomberg’s intrepid space reporter Loren Grush joins this episode to explain what’s ahead for SpaceX–and for NASA’s ambitious goal of getting people back to the moon this decade.
Read more: Starship Explosion Shows Just How Far SpaceX Is From the Moon.
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This episode was produced by: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producer: Federica Romaniello, Associate Producer: Zaynab Siddiqui. Sound Design/Engineer: Raphael Amsili.
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No, Really. Are We Finally Heading Toward a Recession?
First Republic Bank is the latest financial institution to fail amid turmoil across the industry. Meanwhile, inflation is still high. Layoffs are rocking some industries. And labor shortages are throttling others. So… are we about to face the recession that economists have been predicting for months now? Today, Bloomberg reporter Reade Pickert and senior executive editor Chris Nagi read the tea leaves on where the economy is headed.
Read more: First Republic Becomes Second-Largest Ever US Bank Failure.
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Why Some States Are Loosening Child Labor Laws
The tight US labor market has prompted several Republican-led states to roll back child labor laws, which are aimed at protecting teenagers by restricting where and how long they can work. Bloomberg Industry Group reporters Rebecca Rainey and Chris Marr join this episode to talk about where this is happening and who’s pressing for these changes. And labor historian Betsy Wood explains how today’s arguments about whether kids should be put to work mirror the same fights going back decades.
Read more: States Look to Ease Child Labor Laws as Federal Scrutiny Grows
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People Are Using Buy Now, Pay Later Just To Make Ends Meet
With the economy in flux and prices continuing to rise, more consumers are saying yes to buy now, pay later offers. And not just for instant gratification on big-ticket items like a couch or a laptop. Struggling families are using it to spread out payments for essentials like food.
Bloomberg reporters Augusta Saraiva and Paulina Cachero join this episode to talk about the popularity of buy now, pay later services–and the fees for those who fall behind on payments. And we hear from a single mother who reluctantly uses the services to help make ends meet.
Read more: Americans Go Deeper Into Debt as They Use Buy Now, Pay Later Apps for Groceries.
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We've Got Electric Cars. Why Not Electric Airplanes?
Europe’s ambitious climate targets are putting pressure on airlines and airplane makers to come up with sustainable alternatives to dirty jet fuel. Bloomberg reporters Siddharth Philip in London and William Wilkes in Frankfurt join this episode to talk about some ideas on the drawing table for cleaner jet engines–from battery powered concepts to aircraft that run on hydrogen.
Read the story here: Why Europe Is Emerging as a Green Aviation Test Bed
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Those New Obesity Drugs Really Work–If You Can Afford Them
Pharmaceutical companies and insurance providers are at odds over a new class of drugs that have proven quite effective at helping people living with obesity lose weight. Bloomberg’s Robert Langreth and Emma Court join this episode to share their reporting on recent advancements in weight loss treatments–and the fight over who should pay for them. And Dr. Angela Fitch, a physician and president of the Obesity Medical Association, talks about the challenges of treating obesity.
Read their reporting here: Good Luck Paying for Those $10,000 Obesity Drugs Everyone’s Talking About
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“Deeper Pockets, Deeper Wells”
Despite the rain-soaked year California has had, the ongoing issues of drought and limited water remain. Bloomberg reporters Peter Waldman, Mark Chediak, and Sinduja Rangarajan join this episode to talk about how farms that grow lucrative cash crops like almonds and pistachios are digging deeper and deeper wells to tap the state’s dwindling groundwater supply–leaving people in some communities with less to drink.
Read the investigation here: Groundwater Gold Rush
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“Swatting” Threats Disrupt Schools Across The US
Teachers and students in the US are always on alert for the possibility of an active shooter entering their classrooms. Now hundreds of schools around the country are dealing with a new, anxiety inducing disruption: swatting. It’s when police rush to schools in response to fake threats intended to cause chaos.
Bloomberg cybersecurity reporter Jeff Stone joins this episode to talk about the sharp rise of these events in recent months. And New York school district superintendent Matt Landahl shares what it’s like to receive these calls and manage the response in real time.
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Europe’s Best Healthcare Systems Are Starting To Crack
Europe’s universal healthcare systems have long been held up as models for other parts of the world. But in many countries they are now under extreme strain. Chronic underfunding, an aging population and labor force, and continuing fallout from the pandemic mean these systems are sometimes failing their patients.
Bloomberg reporters Naomi Kresge and Jonas Ekblom join this episode to explain how this happened and what governments are trying to do about it. And Dr. Tomas Zapata of the World Health Organization talks about how European nations can rebuild the healthcare workforce before it deteriorates.
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How Are the Billions in Biden’s Climate Law Being Spent?
It’s been eight months since President Biden signed the Inflation Reduction Act into law. And already the hundreds of billions of dollars it contains for clean energy and slowing climate change—alongside private venture capital investments—are funding a wide array of climate technology projects, from decarbonization infrastructure to rust-based battery storage.
Bloomberg climate reporter Eric Roston joins this episode with Akshat Rathi, a senior reporter and host of our sister podcast Zero. It’s a weekly show that explores the tactics and technologies taking us to a world of zero emissions. They talk with Wes about how climate tech is no longer a corner of the economy–it’s fast becoming the economy.
And reporter Zahra Hirji joins to talk about some of the ways the IRA’s spending is starting to show up in our everyday lives.
Read the story: https://bloom.bg/3LpNSpZ
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The Dark Side of TikTok’s Algorithm
Bloomberg senior investigative reporter Olivia Carville is back with her latest reporting on TikTok. She explains how the superpopular app’s algorithm can serve up a stream of anxiety and despair to teens, including videos about eating disorders and suicide. And Jennifer Harriger, a professor of psychology at Pepperdine University, joins to talk about the effect these messages can have on teens and young adults.
Read the story: TikTok’s Algorithm Keeps Pushing Suicide to Vulnerable Kids
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This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Rebecca Chaisson, Michael Falero and Federica Romaniello, Associate Producers: Sam Gebauer and Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.
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The US-Saudi Relationship Is In Danger of Falling Apart
For decades, the United States and Saudi Arabia maintained an important strategic alliance, which gave the US access to Saudi oil in exchange for guaranteeing the kingdom’s security. But growing tensions between the two nations now threaten to rupture this relationship.
Bloomberg’s Ziad Daoud, Tom Orlik, and Nick Wadhams join this episode to explain what’s behind the US-Saudi rift, and why it could have far-reaching consequences for the US economy and potentially the 2024 presidential election.
Read the story: US-Saudi Oil Pact Breaking Down as Russia Grabs Upper Hand
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A Gun That Knows Who’s Pulling The Trigger
For decades, inventors have tried and failed to make a smart gun. A company called Biofire now appears to have pulled it off. It uses both fingerprint scans and facial recognition so that only a registered user can fire it.
But will anyone buy it? Will this technology become yet another point of contention between pro and anti-gun groups? Firearms advocates have long been skeptical of biometric weapons but they’ve also never run across one that actually worked.
Bloomberg reporter Ashlee Vance joins this episode to talk about Biofire’s new smart gun, how it works, and what it’s like to use. We also hear from Biofire’s 26-year-old CEO Kai Kloepfer, who started working on the gun after the mass shooting in his home state of Colorado, when he was 15-years-old.
Read the story: https://bloom.bg/43DMVBH
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America’s Allies Are Not Pleased About the Intel Leaks
The US intelligence community was relieved when a suspect was arrested last week in the leak of highly sensitive classified documents about America’s friends and adversaries. But the fallout is far from over. The leaks are a huge embarrassment for the Biden administration, which is moving quickly to reassure the UK, Israel, and other allies.
Bloomberg national security correspondent Courtney McBride joins this episode to talk about US efforts to repair the damage and shore up its credibility with leading partners around the world–and what the government is doing to prevent leaks like this from happening in the future.
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This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Rebecca Chaisson, Michael Falero and Federica Romaniello, Associate Producers: Sam Gebauer and Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.
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A Flu Shot That Might Work Better–Thanks to Covid-19
It’s estimated that half a million or more people around the world die of influenza each year. And many of these deaths could be prevented with a highly effective, widely used flu shot.
Now, the mRNA technology we became familiar with during the development of the Covid vaccine is being used to create a new flu shot that promises to work better than the current hit-or-miss version. It also offers the potential to bundle covid, flu, and other common viruses into a single shot.
But with vaccine skepticism running high, will people actually take it?
Bloomberg biotech reporter Angelica Peebles joins this episode to explain how the new flu shot is made, how it works, and whether it can shift how we receive and think about vaccinations.
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Dust Off Your Dice–Dungeons & Dragons Is Back
The tabletop roleplaying game Dungeons & Dragons is approaching its 50th anniversary and it has never been more popular, attracting players of all ages to its analog charms. Now Hasbro, the toy company that owns it, is betting D&D can be brought into the digital age and become a big moneymaker.
Bloomberg correspondent Felix Gillette joins this episode to talk about why Dungeons & Dragons is having a cultural — and economic — moment, and why it might not be so easy to persuade diehard fans to pay for a digital experience. Gaming retail store owner Lauren Bilanko shares what it’s like to run a business that caters to the D&D crowd.
Read more here: Dungeons & Dragons’ Epic Quest to Finally Make Money.
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What’s Next In the Fight Over the Abortion Pill?
This episode was recorded before a federal appeals court ruling partly granted the Biden administration’s request to put on hold a Texas court decision overturning FDA approval of the abortion pill. The appeals court allowed restrictions that were lifted since 2016 to be reinstated.
For details on the ruling read more here.
The appeals court decision leaves mifepristone on the market while a Justice Department appeal works its way through the courts. It overrules a lower court decision in Texas that sought to stop the sale of the drug completely.
But it did agree with one part of the ruling. It left in place a lower court order that blocked changes that the FDA has made since 2016 that made mifepristone more easily available.
The ruling means that unless the US Supreme Court intervenes by Friday, mifepristone will no longer be approved for use after the seventh week and cannot be dispensed by mail.
Bloomberg journalists Kelsey Butler, Cynthia Koons, and Madlin Mekelburg join this episode to explain what’s at stake if mifepristone becomes unavailable. And Supreme Court correspondent Greg Stohr talks about what’s ahead for these cases, which may well end up in the Justices’ hands.
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Germany Cautiously Rebuilds Its Military Might
For decades, Germany has downplayed military spending. But after Russia’s invasion of Ukraine, the government reversed its longstanding ban on sending weapons into war zones, and announced a plan to spend an additional 100 billion euros to upgrade its armed forces.
Bloomberg senior editor Alan Crawford joins this episode to explain why the country’s defense industry is booming—and why that’s dividing a public wary of a German military resurgence. And military analyst Dr. Bastian Giegerich makes the case for why Germany should be spending even more to prepare for current and future threats.
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How To Protect Your Money In a Rocky Economy
There’s a whole lot happening in the economy that’s impacting your wallet. Inflation is slowing down, but it’s still high. Layoffs have rocked every industry. And rent prices keep surging. Is it a good time to quit your job–or ask for a raise? Should you buy a house (if you can find one)? And which investments are safe when markets are all over the place?
Bloomberg personal finance journalists Claire Ballentine and Craig Giammona join this episode to share advice about what to do with your money in volatile times.
Read more: What to Do With Your Money—and Your Life—in a Wild New World
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Ron DeSantis Is a Little Bit Woke on Climate Change
Florida’s governor–and likely presidential candidate–Ron DeSantis has pledged billions to restore Florida’s Everglades. Among other good things, that will help lower Florida’s carbon footprint and potentially combat some of the effects of climate change.
But you won’t hear him boasting about those benefits.
As a Republican trying to lure away Donald Trump’s voters with promises to attack “woke” policies, he says he’s “not a global warming person”, opposes restrictions on fossil fuels, and often downplays the environmental upsides of his own policies.
Bloomberg national reporter Michael Smith joins this episode to talk about the Florida Governor's mixed environmental record–and how he’s walking a very fine line between shoring up Florida’s natural resources and alienating Republican primary voters he hopes will carry him to the White House.
Read more on this story: DeSantis Fights for Everglades As He Neglects Climate Crisis
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Team Favorite: Revolt Of The Dairy Farmers
We’re taking a break today for the holiday. Here’s a favorite episode from December that you might have missed–and one that’s still very much in the news. We’ll be back on Monday with a new episode. Have a great weekend. And thanks for listening!
Our insatiable appetite for meat, eggs and cheese means there are billions of chickens, pigs and cows the world over. One consequence: animal agriculture is a leading contributor to greenhouse gas emissions and pollutants like ammonia and nitrogen.
In Europe, governments are starting to crack down—demanding farms dramatically cut the size of their herds to meet environmental goals. Farmers are, to put it mildly, furious.
Bloomberg reporter Diederik Baazil joins this episode from Amsterdam to talk about how farmer’s protests against the new rules are boiling over in the Netherlands. And Wes also catches up with reporter Agnieszka de Sousa, Bloomberg’s “food czar” based in London, for a look at how this problem has spread across Europe–and possible ways to fix it.
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This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Rebecca Chaisson, Michael Falero and Federica Romaniello, Associate Producers: Sam Gebauer and Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.
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Iran and Saudi Arabia Agree To Talk…With China’s Help
Iran and Saudi Arabia surprised many governments in March when they announced an agreement to restore diplomatic relations–ending a seven-year freeze.
Just as surprising: The deal was brokered by China.
Bloomberg correspondents Golnar Motevalli and Sam Dagher join this episode to explain how this landmark agreement came together and what each side hopes to gain from it.
And Jonathan Fulton, a nonresident senior fellow for Atlantic Council’s Middle East Programs, talks about China’s critical role in this deal and the nation’s growing ambitions as a global power broker.
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A Record Number of Anti-LGBTQ Bills Across the US
More than 400 anti-LGBTQ bills have been introduced in U.S. state legislatures this year, and more than twenty have been signed into law. That’s greater than the last five years–combined. Some of these pieces of legislation seek to outlaw access to gender-affirming healthcare for transgender youth. Others would make it easier to ban books from school libraries.
Bloomberg reporter Ella Ceron joins this episode to talk about the momentum behind this push and which states are pressing ahead with these bills. We also hear from Democratic state senator Shevrin Jones of Florida—where ten anti-LGBTQ bills are on the table—about the political battle in his state.
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What If The IRS Did Your Taxes For You–For Free?
Tucked into President Biden’s massive Inflation Reduction Act is a pot of money–$15 million–for the Internal Revenue Service to study a long-talked-about idea: Building an online IRS platform that would enable taxpayers to file their taxes easily and for free. If it moves ahead, it could mean an end to frustratingly complex forms and fees to accountants and tax prep companies.
There are plenty of obstacles in the way. Some politicians and industry groups in Washington are already lining up against it. And it’s not clear Americans would trust the IRS to calculate their refund–or how much they owe.
Bloomberg reporters Laura Davison, Brody Ford, and Ben Steverman join this episode to talk about the promise—and potential pitfalls—of a public filing option for all.
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What Comes Next For Donald Trump
There’s been a ton of news coverage and commentary around Donald Trump’s indictment in New York on Thursday. But the Manhattan case is only one of several criminal investigations and civil cases swirling around the former president—from the US Justice Department’s inquiry into the Jan. 6 attack on the US Capitol and the investigation of Trump’s attempts to overturn the 2020 election results in Georgia, to probes of Trump’s business practices.
Bloomberg legal reporters Zoe Tillman and Erik Larson join this episode to look beyond the Manhattan indictment and assess Trump’s other legal entanglements, and where things go from here.
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What Would You Do With The Fastest Computer In The World?
Last May, the Oak Ridge National Lab, run by the US Department of Energy, unveiled Frontier–the world's fastest supercomputer. It’s capable of performing a quintillion calculations per second, breaking what's called the exascale barrier.
The system requires its own power plant, 6,000 gallons of water to keep it cool, and a highly trained staff to operate. So what can it do? And who gets to use it?
We set out for Knoxville, Tennessee to try to wrap our brains around Frontier’s limitless potential.
See more about Frontier here: It Takes 6,000 Gallons of Water to Cool the World’s Fastest Supercomputer
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Paying For Childcare So You Can Work...To Pay For Childcare
If you’re a working parent, finding childcare is almost certainly a source of stress in your life. It’s often a struggle to find an opening and when you do, it can be crazy expensive. This presents a tough choice: pay for childcare to be able to work, or become a caregiver and forgo a second income. And for single parents, there is no choice at all.
Bloomberg reporter Olivia Konotey-Ahulu has been covering the growing discontent of parents in the UK. And Simon Workman is co-founder of Prenatal to Five Fiscal Strategies, which consults with US states to find ways to support the needs of young children and their families. They both join this episode to look at how the US and UK can fix their broken childcare systems–and highlight countries that are doing it right.
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What’s a Guardianship?
Guardianships in the US are supposed to help vulnerable people who can’t help themselves. But a Bloomberg Law investigation reveals a loosely regulated system in which those placed under guardianships can find themselves trapped, and sometimes exploited, by the people entrusted with their care.
Bloomberg Law correspondents Ronnie Greene and Holly Barker join this episode to discuss their five-part series on how the system works—and doesn’t work—and what can be done to fix it.
Read the story: https://bloom.bg/3zgHQBk
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Can The US Really Ban TikTok? It’s Complicated
There’s at least one thing Democrats and Republicans in Washington have in common: suspicions about TikTok’s ties to China. The Biden administration and members of congress from both parties are urging the social media platform’s Beijing-based parent company, ByteDance Ltd., to sell its stake in TikTok or risk being banned in the US.
Sound familiar? That’s because two and a half years ago, former President Trump sent a very similar warning that ultimately went nowhere.
Bloomberg reporters Alex Barinka and Anna Edgerton join this episode to talk about this latest chapter in the standoff between the US government and TikTok. Plus, what a congressional hearing with TikTok’s CEO revealed about national security concerns surrounding the app.
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The Banking Crisis Is Opening a New Chapter of Capitalism
A lot has been said about the collapse of Silicon Valley Bank and Credit Suisse. But one important thing revealed by those closely scrutinized failures has largely gone unnoticed: the changing relationship between governments and banks.
Bloomberg Editor-In-Chief John Micklethwait joins this episode to talk about how the idea that finance is an arm of the state is back–and why that will have far-reaching consequences for the way the world works.
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Your Pet Is Costing You A Fortune and You Don’t Care
The global pet economy is expected to reach nearly half a trillion dollars by 2030. After a pandemic surge in pet adoptions, more people are buying ever more expensive food and toys for their furry friends. But beyond these routine costs, a growing number of owners are also shelling out thousands for veterinary care to treat complex illnesses and keep their pets alive for longer.
Bloomberg reporters Brendan Case and Nacha Cattan join this episode to give an expansive view of the industry, including how new diagnostic tools and medications are extending pet lifespans—and wearing down owners’ wallets.
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This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Rebecca Chaisson, Michael Falero and Federica Romaniello, Associate Producers: Sam Gebauer and Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.
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Will ChatGPT Steal Your Job?
As the technology powering artificial intelligence keeps improving, it’s getting harder to tell the difference between human and machine. And that means companies are looking to capitalize on its uses.
ChatGPT’s maker OpenAI is quickly rolling out new iterations, like the more powerful version of the product called GPT-4. Google has introduced its own version, albeit with some early stumbles. And Elon Musk also has his eye on the AI space.
Bloomberg Opinion columnist Parmy Olson and technology reporters Dina Bass and Rachel Metz have reported extensively on the rise of ChatGPT and other forms of AI. They join this episode to talk through the upsides–and significant downsides–of a bot that can appear to write and sort of think for you, and what it looks like when humanlike machines become a bigger part of our daily work and lives.
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Apple Looks To Grow Some New Roots
The story of Apple’s rise to become the world’s most valuable company is also the story of its relationship with China. Apple’s vast manufacturing and supply chain operation there has been one of the keys to its success.
So why is Apple looking to expand its operations to India and other countries?
Bloomberg’s chief technology correspondent Mark Gurman joins this episode to look at how shifts in the global economy, and rising tensions between Washington and Beijing, have led Apple to diversify where it makes its products. And Taipei-based senior reporter Debby Wu talks about the challenges the company faces in trying to recreate its success in other countries.
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Washington Takes Aim At Those Hated Non-Compete Agreements
The US Federal Trade Commission is weighing restrictions on many non-compete agreements in employment contracts. These clauses dissuade workers from switching jobs and impact roughly one in five Americans—including physicians, hair stylists, even fast food workers.
Bloomberg reporter Leah Nylen joins this episode to explain the FTC’s efforts to dial them back. And reporters Jo Constantz and Josh Eidelson, and White House editor Mario Parker, talk about how non-competes became a way for companies to freeze employees in place—and how the move to restrict them is part of a larger push by the Biden administration to bolster workers’ rights.
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How Are US Chips Ending Up In Russian Weapons?
US sanctions against Russia are supposed to cut off Moscow’s access to all kinds of goods, including semiconductors, which are used in missiles and drones. But US officials allege a secret supply chain has illegally funneled these chips, some of them American-made, to Russia, where they’ve been used in weapons deployed against Ukraine.
Bloomberg reporter Ben Bartenstein joins this episode to talk about one alleged chip smuggling scheme. And US national security editor Nick Wadhams explains why sanctions can slow—but not always stop—Russia and other sanctioned nations from getting what they want.
Read more here: Web of Secret Chip Deals Allegedly Help US Tech Flow to Russia
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Israel’s Leader Wants To Weaken The Courts. People Are Furious
For months, Israeli citizens—including CEOs, doctors, hedge fund executives, lawyers, and soldiers—have protested in the streets against Prime Minister Benjamin Netanyahu’s plan to diminish the authority of the nation’s Supreme Court. The government aims to give Israel’s parliament, the Knesset, the power to overrule the court’s decisions with a simple majority vote. It could have far-reaching consequences within Israel—and for its standing as a strong democracy in a volatile region of the world.
Bloomberg’s Israel Bureau Chief Ethan Bronner joins this episode from Tel Aviv to talk about what’s at stake—and why so many Israelis from all walks of life are demanding Netanyahu withdraw the plan.
Read more: https://bloom.bg/408gubM
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Congress Won’t Let The US Default on Its Debt. Right?
The White House and Congress are battling over raising the nation’s $31.4 trillion debt ceiling. If they don’t act and the US defaults on its debt this summer, the economic shockwaves will be felt across the nation and around the world.
Even so, the conventional wisdom in many parts of Washington and Wall Street seems to be: don’t worry, in the end of course they’ll reach a deal.
But relying on conventional wisdom is often…unreliable. Though congressional leaders managed to overcome their differences and raise the debt ceiling in the past–often at the 11th hour, after all the brinkmanship had played out–what if this time is different?
Bloomberg journalists Liz McCormick and Erik Wasson join this episode to game out the scenarios and gauge how concerned we should be about the possibility that the rancor and acrimony in Washington will lead to a debt default for the first time in US history.
Read more: https://bloom.bg/3JkoEqX
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Will Self-Driving Cars Be ‘Just Five Years Away’... Forever?
For years now, we’ve been hearing that autonomous vehicles are just around the corner. Google, Uber, General Motors, Tesla, and other companies invested huge sums in hopes of realizing the dream of a car that drives itself on the open road.
And yet, after more than a decade of effort and prototypes, driverless cars still appear to be a long way off. Why is that?
Bloomberg reporter Max Chafkin joins this episode to talk about the industry’s persistent roadblocks — and what’s ahead. And Anthony Levandowski, a pioneer and early champion of driverless car technology, explains why it continues to be such a difficult puzzle to solve.
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What Does The Collapse of Silicon Valley Bank Mean For Your Money?
The biggest bank failure since the 2008 financial crisis is stoking fears of a larger financial meltdown across regional US banks. Silicon Valley Bank, a key lender for startups and the tech industry, collapsed last week. As regulators take over, many people around the country are left wondering if their own money is safe.
Bloomberg personal finance reporter Suzanne Woolley joins this episode to talk about what the collapse of SVB means for everyday savers and investors. And Ben Bain, who leads Bloomberg’s coverage of how Washington regulates Wall Street, explains how the government has responded and the plan to stem the bleeding now — and prevent future failures.
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How A Satellite Hack Became a Cybersecurity Wakeup Call
People around the world rely on satellites for their internet connections, credit card transactions–and even to keep track of time. Last year, a suspected Russian-led satellite hack exposed how vulnerable they are to security breaches, from individual hackers seeking to pilfer information for profit and governments looking to weaken their adversaries.
Bloomberg reporter Katrina Manson joins this episode to discuss the fallout of the hack, and what companies and governments are doing to harden their systems against future attacks. Plus, James Pavur, a hacker and Pentagon cybersecurity expert, walks us through how satellites are compromised, and what we can do to keep our own data from being stolen.
Read more here: The Satellite Hack Everyone Is Finally Talking About.
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India Weighs An Historic Expansion of Marriage Rights
This month, India’s Supreme Court will hear arguments on whether to legalize same-sex marriage.
Bloomberg reporters Muneeza Naqvi and Kai Schultz join this episode from New Delhi to explain India’s rapid march toward affirming rights for LGBTQ people, and how a ruling in favor of same-sex marriage would be felt not just within the country but across Asia and beyond.
Then, Gurchaten Sandhu, program director at the International Lesbian, Gay, Bisexual, Trans and Intersex Association in Geneva takes a step back to talk about which countries have advanced marriage equality and where it is still outlawed.
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Why Employers Will Soon Be Fighting Each Other To Hire You
The future of US competitiveness is taking shape in a field in Licking County, Ohio. It’s the site of a new Intel semiconductor plant, part of the Biden administration’s effort to bring manufacturing jobs back to the US, with a focus on high tech products like semiconductors.
But those ambitious plans have exposed a looming problem: The number of skilled workers needed to build factories and fill those jobs is shrinking. It’s a demographic reality that will only become more acute in the decades to come.
Bloomberg senior economics writer Shawn Donnan joins this episode to explain why America’s workforce is shrinking, and what a labor shortage now means for the nation’s manufacturing future. And Gabriela Cruz Thompson of Intel Labs talks about how a big company like hers plans to recruit workers in an increasingly competitive job market.
Read the story: https://bloom.bg/3J0Z9KV
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This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Rebecca Chaisson, Michael Falero and Federica Romaniello, Associate Producers: Sam Gebauer and Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.
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Two Space Missions Shake Up Our View Of The Past–And Future
Two significant advances in science and technology are helping us examine our own planet, as well as galaxies near and far. The first is the James Webb Space Telescope—an instrument that’s already transmitting game-changing data from a million miles away. The second is NASA’s SWOT mission, named for its exploration of Earth’s surface water and ocean topography. Using remote sensing technology, it aims to be the first-ever global survey of its kind.
Bloomberg space reporter Loren Grush joins this episode to share why these endeavors are important not just for science but also to help us make decisions about our everyday lives. Plus, we meet some of the people behind these projects—and those whose work will be shaped by the wealth of information beaming back to Earth.
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Cities Test A New Way To Reduce Police Violence
Traffic stops are the most common way people come into contact with the police. After the January death of Tyre Nichols, who was beaten following a police stop in Memphis, some cities are trying to limit how often these stops occur. Philadelphia, Pittsburgh, San Francisco, and the state of Virginia have taken measures to curb stops for minor violations, which disproportionately affect people of color–and sometimes turn violent.
Bloomberg reporters Sarah Holder and Fola Akinnibi join this episode to talk about why traffic stops have become such a widespread problem, and how police departments are responding to limits to their authority. And Philadelphia councilman Isaiah Thomas explains how his legislation aims to increase public safety.
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Is the Pentagon Losing Its Edge?
In his 1961 farewell address, President Dwight Eisenhower famously warned about the dangers of the business of war–what he called the “military industrial complex.” Now, more than six decades later, that warning still rings true. The US military is the most powerful – and expensive – in the world, but the Pentagon bureaucracy is vast, inefficient, and often slow to adapt to a rapidly changing world.
Bloomberg reporters Peter Martin, Courtney McBride, and Roxana Tiron join this episode to talk about their deep reporting about concerns inside and outside the Pentagon that the US military is in danger of falling behind rivals including China, and what the Defense Department is doing to change.
Michèle Flournoy, a former Undersecretary of Defense for Policy, also joins to give perspective on how the Pentagon works, what it does right, and what it needs to do better.
Read more: https://bloom.bg/3JiAnXW
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This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Rebecca Chaisson, Michael Falero and Federica Romaniello, Associate Producers: Sam Gebauer and Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.
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The World’s Food Security is In The Hands of China and Russia
One unexpected consequence of Russia’s invasion of Ukraine: It highlighted how just a handful of countries–notably Russia and China–supply much of the fertilizer needed to feed the world. Amid geopolitical tensions and humanitarian concerns, the race for fertilizer has become a priority for the U.S. and its allies.
Bloomberg reporter Elizabeth Elkin joins this episode to talk about how concerns about fertilizer shortages have nations looking for alternatives.
Read more: https://bloom.bg/3KUmT62
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A ‘90s Rapper. A Fugitive. And the FBI
Pras Michel, the famed rapper and founding member of The Fugees, goes on federal trial later this month. The US government has charged him with numerous crimes related to his dealings with the fugitive Malaysian businessman allegedly at the center of one of the largest financial scandals in history. Michel maintains he’s innocent.
This real-life international tale of intrigue involves a long cast of characters, including A-list Hollywood celebrities, the Chinese government, and both the Obama and Trump White Houses.
Bloomberg reporters Anthony Cormier, Jason Leopold and Matthew Campbell have captured the whole saga in a story for Businessweek and they join this episode to tell us what they found.
Read the story: https://bloom.bg/3ZiFi0W
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A Brain Implant To Use An iPhone With Your Thoughts
Startups pioneering invasive and noninvasive devices that interact with the brain seek to alleviate everything from ALS symptoms to epilepsy to treatment-resistant depression. In this episode, a look at the science behind this rapidly advancing technology.
Dr. Thomas Oxley, a neurointerventionist and CEO of Synchron, gives us a tour of his lab in Brooklyn, New York, where his company is developing an implant that allows paralyzed people to control devices.
Then Bloomberg reporter Sarah McBride joins Wes for a look at other startups making these brain-computer interfaces–and where the industry goes from here.
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Countries Cautiously Weigh A Return to Nuclear Power
Twelve years after the 2011 Fukushima-Daiichi nuclear power plant disaster, Japan is now considering restarting its shuttered nuclear reactors to combat rising energy prices. It’s a slow process, and one where the government and the public are conflicted about the advantages and risks of nuclear power.
Around the world, countries that turned off their reactors in the wake of Fukushima, or have closed old or expensive reactors, are doing a similar about-face, with rising energy prices and clean energy commitments changing their calculus. That’s inevitably raised questions about the safety of potentially running these aging behemoths to more than double their expected lifespan.
Bloomberg’s Japan energy reporter Shoko Oda joins this episode to talk about the country’s decision to restart its nuclear reactors and lingering anti-nuclear sentiment in the country.
Power and renewable energy editor Will Wade also joins to describe how governments around the world are rethinking their nuclear stances, squeezed by rising energy prices and climate targets.
And Dr. Jessica Lovering of Good Energy Collective, a pro-nuclear think tank, makes an advocate’s case for how nuclear power fits into the mix for clean energy over the next 30+ years.
Read more about this story here: https://bloom.bg/3m9HTvi
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The Not So Shiny Aluminum in Ford’s New Electric Truck
It takes hundreds of pounds of aluminum to build Ford’s “Truck of the Future,” the electric F-150. A lot of that aluminum comes from a long, complicated supply chain that it would be difficult to describe as environmentally friendly.
The chain begins in the Amazon rainforest in Brazil, at a mine with a legacy of pollution. It leads next to a refinery down the Amazon River where thousands of people are suing, claiming the industry harmed the fragile ecosystem, contaminated their water, and made them sick. Bloomberg senior reporters Sheridan Prasso and Jessica Brice join this episode to talk about their investigation–and how Ford responded to what they found.
Read the investigation: https://bloom.bg/3xRXC4V
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Will The Supreme Court Kill Student Loan Relief?
President Biden’s plan to forgive federal student loan debt for millions of Americans has been frozen since a handful of Republican-led states sued to stop it. They argue the president doesn’t have the power to wipe away billions of dollars of debt on his own. It’s now up to the US Supreme Court to decide if they’re right.
Bloomberg Supreme Court correspondent Greg Stohr joins this episode to talk about the arguments on both sides, and where the 6-3 conservative majority might come down. And personal finance reporter Claire Ballentine explains what happens next for Americans with student debt if the court upholds Biden’s plan–or knocks it down.
Read more: https://bloom.bg/3ktdt6P
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Nigeria Is In Turmoil. Can A New President Fix It?
As Nigerians decide on a new president, the country’s economy is reeling. Nigeria’s public debt is growing, inflation is soaring, and half of adults can’t find steady work. People wait in line for hours at gas stations to fill their cars and light their homes with generators because the shaky power grid can’t keep up. Kidnapping for ransom is a growing problem.
What can be done to turn things around? Bloomberg journalists Neil Munshi in Lagos, Nigeria and Ruth Olurounbi in Abuja, the capital, join this episode to talk about what’s at stake in this election–and how the candidates vying for the job say they’ll address these problems. Then, Cheta Nwanze, lead partner at SBM Intelligence, explains why it’s so difficult to attract companies, and money, to Africa’s largest economy.
Read more: https://bloom.bg/3XUUzU5
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How Does Ukraine Continue to Beat Back Russia?
February 24 marks one year since Russia invaded Ukraine. Russian President Vladimir Putin believed the country’s military would be defeated quickly and Kyiv, the capital, would fall. Instead, Ukraine’s clever, nimble — and motivated — military has fought back Russia’s forces despite being vastly outgunned.
But the war has taken a terrible toll. Thousands of people have died. Cites have been devastated and millions of displaced Ukrainians are now living as refugees in other countries.
Bloomberg journalists Daryna Krasnolutska and Marc Champion in Kyiv, and Rosalind Mathieson in London join this episode to take stock of all that has happened in the past year, and what lies ahead for Ukraine.
Read the story: https://bloom.bg/3IL2hMf
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How Long Will You Have To Wait To Retire?
Around the world, a looming problem is making workers nervous–and angry. People in many countries are living longer, and at some point governments will run out of money to pay their retirement benefits.
One solution some politicians are pushing: raising the retirement age for workers. Which…is about as popular as it sounds.
So what is the answer? Ben Sills, who leads Bloomberg’s government and economics coverage in Europe, and White House and politics reporter Nancy Cook join this episode to sort through the tough economics and fraught politics of retirement. And pensions reporter Amy Bainbridge, personal finance reporter Ainsley Thomson, and senior editor Emily Cadman talk about how governments all over are trying to get hold of the problem before it becomes a crisis.
Read more: https://bloom.bg/3SapcUf
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Team Favorite: The Copper You Need Is Stuck In A 30-Mile Traffic Jam
We’re taking a break for President’s Day here in the US. So here’s one of our favorite stories you might have missed. We’ll be back tomorrow with a new episode. Thanks for listening!
Here’s a random yet important fact: Copper is one of the very best conductors of electricity of all metals. And that matters, because as we move toward a world in which more and more things in our lives plug in or charge up–not just your phone, but electric vehicles, solar panels and wind turbines that will power the future–copper is in increasingly high demand.
Some of the richest reserves of copper are found in Southern Africa. But getting it from deep underground and trucking it thousands of miles to buyers can be a harrowing journey. Without more production or new mines, the world could be looking at shortages, and soaring prices for copper and the products that use it.
Reporters James Attwood and Yvonne Yue Li join this episode to explain what a coming copper shortage could mean for us all. And reporter Matthew Hill describes his trip to a huge mine in Zambia, where he descended thousands of feet to see copper being blasted from the rock.
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Doubts About Biden, Fears About Trump
It’s hard to believe, but the 2024 presidential election is already off and running, and there’s grumbling in both parties. Some Republicans want to put Donald Trump behind them, and some Democrats worry 80-year-old Joe Biden might not be up to the long slog of a presidential campaign.
Bloomberg’s managing editor for US government Flavia Krause-Jackson, national political correspondent Joshua Green, and White House correspondent Jordan Fabian join this episode to tell us what to pay attention to–and what’s just noise.
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It’s Really Hard To Help Syria’s Earthquake Victims
The recent earthquakes that devastated Turkey and Syria have left millions of people in desperate need of help. But those seeking to bring food, medicine, and supplies into the country face daunting obstacles.
Syria’s government wants to control aid shipments and who gets them. Strict economic sanctions imposed on Syria’s government by the US and Europe make it difficult to conduct any transactions there. Governments, banks and humanitarian aid groups are sometimes wary of triggering penalties if their work is seen as violating the sanctions, even despite a temporary easing of the restrictions for earthquake relief.
Sylvia Westall in Dubai, who leads Bloomberg’s government coverage in the Middle East, and Nick Wadhams in Washington, DC, who oversees reporting on US national security and foreign policy, join this episode to talk about how sanctions and the Syrian government are complicating efforts to assist earthquake victims. And Jennifer Higgins of the International Rescue Committee describes how her organization is clearing these hurdles to bring help where it’s needed most.
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Thousands Claim A Blockbuster Drug Gave Them Cancer
In 2020, the enormously popular heartburn medication Zantac was pulled from store shelves after samples were found to contain the probable carcinogen NDMA.
The drug has since been re-introduced with a new formula that is considered safe to use as directed.
But tens of thousands of people who took the old version of the drug, made with the active ingredient ranitidine, are now suing Zantac’s maker, then called Glaxo and now known as GSK. They claim the medication gave them cancer and are seeking compensation. The company is pushing back, saying there is no conclusive evidence or scientific consensus that ranitidine can degrade and form NDMA in harmful amounts under normal conditions.
Reporters Anna Edney, Susan Berfield, and Jef Feeley dug into the claims and counterclaims for Bloomberg Businessweek, and they join this episode to talk about Zantac’s rise and fall and where these lawsuits are headed.
And Dr. Jaap Venema, chief science officer at US Pharmacopeia, explains how potential carcinogens get into drugs–and what pharmaceutical companies and government agencies are–and should be–doing to ensure the safety of the medications we take.
Read the story: https://bloom.bg/3Yxzno2
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Why Car Prices Are Still Crazy High
Buying a new car today is more painful than ever. Auto prices have risen a shocking 30% in just the past few years. Many used cars aren’t much cheaper. The pandemic crunch is partly to blame – high demand and scarce supply caused prices to spike along with everything else. But car prices remain astronomical even though those shortages have largely eased. For a lot of middle class Americans, a new car is now out of reach.
And that’s just fine with some major automakers. Bloomberg reporters David Welch and Keith Naughton join this episode to explain why General Motors Co. and Ford Motor Co., among other companies, are embracing scarcity and high prices as the new normal.
At the same time, China is ramping up production and rising as a leading carmaker. Reporter Tom Hancock describes how the country is churning out millions of electric and gasoline-powered vehicles for customers around the world, with one notable exception: the US.
Read more:
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This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Rebecca Chaisson, Michael Falero and Federica Romaniello, Associate Producers: Sam Gebauer and Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.
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The Real Price of Work From Home
New York and other cities have struggled to fully bounce back from the pandemic, in part because many people who can work from home either part or full time are choosing to do so. That means a lot less money is being spent in shops and restaurants. Expensive office buildings are standing partially empty and fewer passengers are paying subway and bus fares.
Reporters Emma Court and Donna Borak join this episode to talk about how work from home is transforming city life and costing downtowns billions. Tracy Hadden Loh, a fellow at Brookings Metro, explains how, as she puts it, cities can reinvent themselves to be go-to places not just between the hours of 9-5, but 5-9.
Read more: https://bloom.bg/3jOsY8Z
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China’s 'Covid Tsunami'
At the same time China’s government is working to manage the fallout overseas from the surveillance balloon shot down by the US, it’s also struggling to contain another problem at home—a wave of covid cases that’s overwhelmed the country.
Late last year, people in cities across China protested in the streets against the government’s Covid Zero lockdowns. In response to the unrest, President Xi Jinping eased the restrictions, and China is opening back up.
As anticipated, millions of people once again out and about has led to a massive surge in Covid cases and deaths. As the virus has rapidly spread throughout China, the government has struggled to keep up. Hospitals are overwhelmed and even basic medicines like ibuprofen are sometimes impossible to find.
Bloomberg journalists John Liu in Beijing and Xiao Zibang in Singapore join this episode to talk about how China is coping with the health crisis, how citizens in some cities and rural areas are stepping in where the government has fallen short, and where things go from here.
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Introducing: Foundering - The John McAfee Story
The new season of Bloomberg's Foundering podcast retraces the life and gruesome death of John McAfee. In the 1980s and ’90s, the McAfee name was synonymous with computer antivirus software, and he helped establish the modern cybersecurity industry. But afterward, his life took a strange and dark turn. He was accused of murder, an allegation he denied, and then went on the lam. He sought to reinvent himself as a cryptocurrency guru and as a candidate for US president. Reporter Jamie Tarabay interviews McAfee’s colleagues, acquaintances, investigators and family members to demystify lies he told throughout his life, reveal the secrets he kept and resolve questions surrounding his public and decades-long self-destruction.
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Pressure Mounts On Iran–From Inside And Out
As Iran approaches the 44th anniversary of the revolution it finds itself at a junction. US and European Union sanctions have crippled Iran’s economy. Thousands of citizens have taken to the streets to protest the Islamic government’s strict religious laws, and the brutality of its security forces in crushing dissent. Thousands of protesters have been arrested, and some have been put to death.
Yet despite international economic pressure and rising internal discontent, there are few signs that Iran’s government is weakening.
Bloomberg senior international affairs correspondent Marc Champion joins the episode to discuss the turmoil happening now. Ali Vaez, Iran Project Director at the International Crisis Group, joins to weigh in on tensions between Iran and the West that could boil over and how governments might prevent that from happening.
Read more: https://bloom.bg/3x6sGgL
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Mining Asteroids For Science – and Lucrative Metals
If you’re a comic book or sci-fi fan, you’ve likely read about the far-off idea of hitching a ride on an asteroid and mining it for precious metals and ice. But it’s not science fiction anymore. In this episode, we’ll take a look at two real-life asteroid-mining missions in the works.
Dr. Dante Lauretta, who leads NASA's OSIRIS-REx asteroid sample return mission, talks about what they’ve gathered from the Bennu near Earth asteroid, which will arrive back home later this year.
We also speak with Matt Gailich, co-founder and CEO of AstroForge–a company sending up two missions this year with the ultimate goal of mining asteroids for platinum and other valuable metals needed for electric cars and other technology.
Bloomberg’s space reporter Loren Grush then joins to give a bigger-picture view of other breakthroughs on the horizon in the fast-growing race to space.
Learn more: https://bloom.bg/3YaZK32
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Amazon’s Big Bet on Football Is (Sort Of) Paying Off
Last fall, Amazon agreed to pay the NFL a whopping $1 billion a year for 11 years to air Thursday Night Football exclusively on its Prime streaming service. The high price tag made headlines–and executives at broadcast television networks, cable companies and other streaming services like Netflix and Apple TV+ are watching closely to see if Amazon’s risk is rewarded.
As Super Bowl LVII approaches, Bloomberg reporters Gerry Smith and Felix Gillette join this episode to explain why this deal has drawn so much scrutiny: If Amazon is successful in luring viewers, and dollars, away from the networks, it could shake up the way we watch not just football but other sports–and eventually TV of all kinds. And maybe not in ways we like.
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What Was That Chinese Balloon Really Up To?
What started as a curiosity—a Chinese balloon Washington says was equipped with surveillance equipment floating high above the US—now threatens to worsen the already tense rivalry between two world powers.
China insists it was a civilian research balloon that had drifted off course. Its government responded with anger after President Joe Biden ordered the vessel shot down Saturday once it was safely off the coast of South Carolina.
What information can a balloon like that collect? And what does this incident mean for US-China relations? Rosalind Mathieson, who oversees Bloomberg’s government and political coverage around the world, joins this episode to sort out what this was all about—and where things go from here.
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The Not So Easy Trick To Getting Rid of Rats (In Big Cities)
The number of rat-related complaints in American cities has spiked in recent years. In the most overrun cities – Chicago, Washington, DC and New York – officials are stepping up efforts to find and kill them. New York is going so far as to hire a rat czar in charge of stamping them out.
Good luck with that. Cities have tried and failed for decades to control rats. So what can be done to contain the population of these rapidly reproducing rodents?
To answer that question, Big Take podcast producers Kathryn Fink, Rebecca Chaisson and Sam Gebauer hit the streets with a rat control squad in Washington and rodentologist Dr. Bobby Corrigan in New York. We also speak with New York Sanitation Commissioner Jessica Tisch. The good news: we can bring rats under control. The bad news: human nature means we probably won’t.
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AI Is Here to Save The Whales. And Sharks. And Bees
Endangered whales getting hit by container ships. Sharks dying on hooks intended for other fish. Pesticides wiping out bees by the millions. Scientists and entrepreneurs are testing new ways to use artificial intelligence and other technologies to try to protect threatened creatures from harm.
Bloomberg reporter Todd Woody joins this episode to talk about a project that uses computers to listen across oceans for whales--and automatically warn ship captains when they’re on a collision course with a giant underwater mammal. We visit a company in the UK working on a device that sends a signal to repel sharks from fishing lines. And reporter Coco Liu describes a new food supplement for bees that turbo-charges their energy levels and replaces nutrients lost to habitat destruction.
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How Racist Groups Use Online Video Games To Spread Hate
In December, an Anti-Defamation League study found a sharp rise in the number of people who say they’ve encountered white supremacist ideology while playing online video games. The persistent presence of individual gamers and groups spreading hate in gaming communities has led to calls for the industry to do more to stop it.
The question is, how?
Bloomberg video game reporter Cecilia D’Anastasio joins this episode to explain why it’s so difficult to police virtual worlds, and what companies are and aren’t doing to confront the problem. Alex Newhouse, deputy director of the Middlebury Institute’s Center on Terrorism, Extremism and Counterterrorism, talks about his work trying to help the gaming industry stamp out toxic culture on its platforms.
For More on Cecilia’s story: https://bloom.bg/3Dx2yzo
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China’s Back Open, Great! And…Maybe Not So Great.
Now that China has relaxed its Covid Zero policy, the world’s second largest economy is rumbling back to life. As China once again starts to buy and consume goods and services of all kinds, it’s expected to give the global economy a boost right when it’s needed most.
But there’s a potential downside. China’s enormous appetite for oil, soybeans, wheat and everything else could also boost inflation at the same time central banks are trying to contain rising prices.
Bloomberg chief economist Tom Orlik and senior Asia economics correspondent Enda Curran join this episode to discuss what China’s reopening means for the global economy and anyone trying to make ends meet.
Read more on this story here: https://bloom.bg/40cPY1U
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India’s Plan To Become The World’s New Economic Powerhouse
India’s Prime Minister Narendra Modi is investing billions of dollars to boost manufacturing and attract foreign investment in his rapidly growing country. Modi’s ambitious goal: To propel India to the top ranks of global economic powers, alongside the US and China.
Bloomberg journalists Kai Schultz and Vrishti Beniwal join this episode to explain how he intends to do that–and the tall challenges he’ll face along the way. And Milan Vaishnav, director of the South Asia Program at the Carnegie Endowment for International Peace, talks about Modi’s successes, and stumbles, as he navigates India’s complex political and religious cross-currents.
Read more on this story here: https://www.bloomberg.com/news/features/2023-01-23/india-s-1-4-billion-population-could-become-world-economy-s-new-growth-engine?srnd=bigtake
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The US Citizens Recruited to Smuggle Migrants
Migrants looking to enter the US from Mexico illegally often pay thousands of dollars to “coyotes,” or smugglers who transport them across the border. Once inside the US, they’re hidden in trailers or the trunks of cars to get past highway checkpoints where law enforcement is on the lookout.
That’s where a largely hidden workforce comes in — people in the US, many of them citizens, who are recruited by smuggling operations to drive the vehicles through the checkpoints, hoping to avoid detection. Often these drivers are themselves barely getting by, and they risk time in federal prison if they’re caught.
Reporter Julia Love, who wrote about this shadow economy for Bloomberg Businessweek, joins this episode to tell the story of one of those drivers–a Texan named Dennis Wilson. Wilson also comes on the podcast to describe his experience–and to tell what happened when he was pulled over early one morning.
Read Julia Love’s story: https://bloom.bg/3kNxlRI
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Why's It So Hard To Predict A Recession?
Economists have more information at their fingertips than ever before. And yet, in many ways it’s become more difficult for them to predict if–and when–a recession is coming.
Why is that? US economy reporter Katia Dmitrieva joins this episode to talk about how economists peering into the future are turning to all kinds of tools–some expected (employment data), and others….not so expected (men’s underwear?).
And Simon Kennedy, who leads Bloomberg’s economic coverage, gives his answer to the question on everyone’s mind these days: will there be a recession this year, or not?
Read more here: https://bloom.bg/400cafw
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Companies Are Doing More to Keep Workers From Walking
Despite headlines about tech giants firing thousands of employees, many companies in the US are struggling to attract and keep workers. There are more jobs available across the country than people willing to fill them.
Workers have choices and they’re demanding better pay and work-life balance. Businesses of all kinds are starting to listen–changing old ways and getting creative to keep their employees happy enough to stay put. Nicole Bullock and Matthew Boyle of Bloomberg’s Work/Shift team join this episode to talk about how employers are rapidly adjusting to a changing workplace.
Check out more from Work/Shift here: https://www.bloomberg.com/work-shift
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What Will Republicans Do With Their House Majority?
Republicans are back in charge of the US House of Representatives after winning a narrow majority in November’s midterm elections. They’ve got a long list of things they want to accomplish: spending cuts are near the top, as well as investigating Joe Biden and his administration.
The hitch? The Senate is still in Democratic hands, which means they can block just about any legislation the House passes. And Republican leaders often have a difficult time keeping their own fractious members in line (just look at how hard some Republicans fought to keep Kevin McCarthy from becoming House speaker).
Bloomberg congressional reporter Steven Dennis joins this episode to talk about what’s ahead this year in congress–and how to sort out what to pay attention to, and what’s just noise.
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This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Rebecca Chaisson, Michael Falero and Federica Romaniello, Associate Producers: Sam Gebauer and Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.
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Gasoline Starts Its Long, Slow Ride Down
Even though Americans are driving more than ever before, they’re using less fuel to do it. Gasoline demand in the US hasn’t bounced back to pre-Covid levels, and for all kinds of reasons, it likely never will.
In the long run, that will mean relief from high gas prices. But the decline of fossil fuels won’t be quick — or painless. As the oil industry recalibrates to meet the new reality and seeks to maximize profits, we could see price spikes and periodic supply crunches.
Bloomberg journalists Lynn Doan, Chunzi Xu and Millie Munshi join this episode to talk about why gasoline use is trending lower, even as Americans pile on more miles in their cars. And energy analyst Mark Finley of Rice University's Baker Institute for Public Policy explains how diminishing gasoline use could impact not just consumers and companies, but US national security, and America’s relationship with China and the rest of the world.
Learn more about this story: https://bloom.bg/3J8TBQt
Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK Have questions or comments for Wes and the team? Reach us at bigtake@bloomberg.net.
This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Rebecca Chaisson, Michael Falero and Federica Romaniello, Associate Producers: Sam Gebauer and Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.
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Why Is Your Rent So High?
The price of everything is going up, but few things have risen as fast as rent. The rule of thumb used to be that housing shouldn’t eat up more than a third of your paycheck. But these days, a lot of people are handing over half or more of their income to the landlord. Why has rent climbed so high so fast–and is there any end in sight?
Real estate reporter Prashant Gopal joins this episode to explain how we got here–and offers a dose of cautious optimism for renters. And Neil Callanan, who covers corporate finance, gives a broader view of the consequences of turmoil in commercial and housing markets around the world.
Learn more about the story here: https://bloom.bg/3whXo66
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Get Ready For Lab-Grown Meat
Companies around the world are competing to produce what’s often called lab-grown meat. It begins with the cells of cows, chickens, fish, or whatever protein you’re trying to recreate–and like the name says, it’s grown in a lab into food-sized portions.
How is it made, how long until it appears in your local supermarket, and how…does it taste? Bloomberg reporters Deena Shanker and Priya Anand join this episode with answers.
Learn more here: https://bloom.bg/3WgTl4I
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How Cocaine Hitches A Ride on The Global Fruit Supply Chain
In December, we told the wild story of drug smugglers who hide tons of cocaine aboard huge container ships bound for Europe from South America. Today, we pick up the saga from there. What happens to all that cocaine once it reaches port?
Bloomberg investigative reporters Lauren Etter and Vernon Silver join this episode to talk about how a sophisticated network of drug cartels and traffickers recruit young people to sneak the cocaine off the ships and coerce dockworkers to look the other way. And how law enforcement is trying to stop cheap cocaine from flooding the streets of Europe–without grinding global trade to a halt.
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Russia and Iran Team Up Against The West
Tough economic sanctions the US and European Union imposed on Russia and Iran have succeeded in cutting off those nations from much of the world economy. But they’ve also had an unintended effect: Moscow and Tehran are now joining forces to evade some of the crippling trade restrictions.
They’re investing billions of dollars on an 1,800-mile trade route that enables them to move products of all kinds over land and water that’s beyond the reach of the West–to buyers in the fast-growing economies of Asia.
Bloomberg journalists Golnar Motevalli in London and Jonathan Tirone in Vienna join this episode to describe how this new trade route operates. And Dr. Maria Shagina, an expert in sanctions, explains how sanctions work–and whether Iran and Russia can ultimately succeed in outmaneuvering the West.
Learn more about the story HERE.
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Team Favorite: Clash of the Streaming Titans
Remember when everyone loved to complain how there were 150 channels on TV and nothing good to watch? It’s pretty hard to say that now. There are so many good shows being made.
Our new complaint: how hard it is to watch all those great shows, especially when they’re spread across so many streaming services—and most of them you have to pay for.
How did we get here? Bloomberg media reporter Felix Gillette has answers. He’s the co-author of the book It's Not TV: The Spectacular Rise, Revolution, and Future of HBO.
Felix joins this episode to break down why TV has never been better–and yet has never been more frustrating to watch. Bloomberg’s entertainment reporter Lucas Shaw also stops in to explain how this shift has changed the way Hollywood decides which shows get made--and which ones don't.
This episode originally aired in October of 2022.
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How We’re (Not) Preparing For the Next Pandemic
Covid-19 isn’t quite done with us yet, but virologists are urging governments around the world to start preparing for the next pandemic. They warn it’s just a matter of time before it happens, and with good planning lessons learned from the current response can keep us from getting caught flat-footed again. So far, though, such calls haven’t been met with much enthusiasm by politicians who have more immediate concerns in front of them.
Dr. Angela Rasmussen, a virologist with the Vaccine and Infectious Disease Organization at the University of Saskatchewan, joins this episode to explain where the next virus is likely to come from, and how to get in front of it. And Bloomberg reporters Riley Griffin and Josh Wingrove talk about what governments learned from covid pandemic–and what if anything they’re doing to brace for what’s to come.
Read more about this story HERE.
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Clean Up Your Water And We’ll Lower Your Debt
There’s a new way for some countries struggling under piles of debt to get relief: by agreeing to spend part of the difference on the environment. The Nature Conservancy, the US-based environmental group, is teaming up with big financial institutions to offer what’s called Blue Bonds, or debt-for-nature swaps. The bank alleviates some of the country’s debt burden, and the government puts the savings toward restoring coral reefs and other environmental projects. Belize and the Seychelles are among a handful of nations that have taken the offer so far, and many more are in the works.
Bloomberg journalists Sydney Maki and Natasha White join this episode to explain how these complex deals work–and who’s profiting from the bargain.
Learn more about this story here: https://bloom.bg/3ZwzcdC
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What The Heck Is Elon Musk Thinking?
It’s been nothing but mayhem at Twitter since Elon Musk took the helm of the social media company late last year and began shaking things up in ways that don’t always seem to make much sense, especially from the outside. Many users are furious and advertisers are fleeing. Musk’s preoccupation with Twitter is also fueling concerns that he’s not paying enough attention to Tesla, his once-invincible electric car company that’s lost hundreds of billions of dollars in value. Bloomberg journalists Brad Stone, Sarah Frier and Kurt Wagner join this episode to explain Musk’s chaotic moves and where he goes from here.
Read more about this story here:
https://bloom.bg/3ivqHig
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How Safe Is All That Money In Your Pension?
Millions of Americans–union workers, school teachers, firefighters, office employees at major corporations–are counting on a pension to support them when they retire. Pensions have always been seen as secure and reliable. But in recent years, some of the nation’s biggest pensions have run into trouble. Underfunded or underperforming, they don’t have enough to pay out. Increasingly, that means taxpayers are being asked to step in so retirees aren’t left with nothing. Which means the shaky pension pension system is very well costing you money–even if you don’t have one yourself.
Bloomberg reporters Neil Weinberg, Suzanne Woolley and Akayla Gardner join this episode to explain why the nation’s $4 trillion pension system is having such a rough time–and how much it will cost the rest of us to pick up the slack.
Read more about this story HERE.
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Wall Street's Trillion-Dollar Decade
In just the past ten years, the biggest US banks made an eye-popping trillion dollars in profit. To help get our heads around that staggering number, we asked Bloomberg reporters Max Abelson and Hannah Levitt–who cover the world of Wall Street–to explain how banks were able to dramatically increase their profits in such a short time–and how it impacts the rest of us.
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London Strong-Arms Drivers To Go Electric
Some big, crowded cities like New York and London have tried to reduce traffic jams and air pollution with congestion fees that make it expensive to bring your car downtown.
Now London is taking things a step further. Air pollution has fallen there. So the government is trying not just to cut down on the number of cars in the city, but using carrots–and sticks–to get people to abandon their gasoline cars altogether.
Eric Roston, Bloomberg’s sustainability editor, joins this episode to explain why electric cars are such a big deal in tackling air pollution–and what a tall challenge it will be to make the switch on a large scale. And Feargus O’Sullivan, a contributing writer at Bloomberg CityLab, talks about what London is doing, and why other cities are watching.
For more on this story: https://bloom.bg/3CsLf1Q
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Ron DeSantis Is Coming For MAGA Voters
One big obstacle for any Republican dreaming of becoming president in 2024: figuring out how to get past Donald Trump–without angering his legions of loyal supporters. One person who just may crack that code is Florida Governor Ron DeSantis. He won re-election in November by a huge margin, one of few bright spots for Republicans in a disappointing year. And he did it by doing something no other Republican has been able to do–appealing to Trump voters (along with independents and even some Democrats) while removing Trump himself from the conversation.
Bloomberg’s national political correspondent Joshua Greene joins this episode to talk about how DeSantis has so far managed to out-Trump Trump, and whether his strategy will work outside Florida–and possibly take him all the way to the White House.
Red more about this story here: https://bloom.bg/3IoNUx7
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Crypto Explained, In Plain English
If all the news lately about cryptocurrencies–and the fall of Sam Bankman-Fried and his FTX exchange–have left you wishing you had a better handle on the maddeningly complex world of crypto, we’re with you. So we asked Bloomberg Opinion columnist Matt Levine to join Wes this episode to answer: What exactly is crypto, both in theory and reality?
(In case you missed it, Matt wrote a cover-to-cover story for Bloomberg Businessweek on the subject. So he seemed like a good person to ask.)
Matt explains how crypto works and what gives it value. He looks at why once-soaring cryptocurrencies have now plummeted into an extended “crypto winter.” And he assesses the FTX fallout — and what it means for the fate of crypto when billions of dollars of customer money go missing.
Learn more here: https://bloom.bg/3GjHFs6
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The Men Who Helped Carlos Ghosn Flee Japan In A Box
It was huge news when Carlos Ghosn, the once-celebrated auto executive, vanished from Japan in 2019 after being charged with financial crimes. He later emerged in Beirut, where he’s lived ever since, beyond the reach of Japanese authorities. Now the American father and son team who helped carry out his spy-novel escape are coming forward. They served time in a Japanese prison and are hoping Ghosn will help them pay off millions of dollars in legal bills.
Bloomberg journalists Reed Stevenson and Brian Bremner join this episode to tell the story of what Ghosn’s escape cost the men—and the very different lives they, and Ghosn, live today.
Learn more about the episode here: https://bloom.bg/3IjYZj2
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Declining ALS Patients Are Waiting On The FDA's Next Move
For many years, pharmaceutical companies have tried and failed to find a treatment to slow symptoms of ALS–the debilitating, fatal illness also known as Lou Gehrig’s Disease. A potentially promising new drug from Biogen may offer some relief to those afflicted with an uncommon and especially insidious form of ALS that runs in families. Patients are urging the US Food and Drug Administration to speed access to the drug, which hasn’t yet been approved because clinical trials didn’t conclusively show it works.
As pharmaceutical companies use new technologies to seek cures of all kinds, this tension between making sure drugs are effective and safe, and offering not-quite-ready but possibly life-saving treatment to people for whom it’s now or never, is becoming more acute.
Bloomberg’s chief medical writer Robert Langreth joins this episode to talk about the race to find a treatment for ALS–and the back and forth between patients, companies and government regulators. We also hear the story of a Pennsylvania family that has passed on a gene for ALS from generation to generation–and their demands for access to the new treatment.
Learn more about the episode here: https://bloom.bg/3WIkvCm
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We All Eat The Same Stuff
From Beijing to Boston, the food on our dinner plates is starting to look more and more alike. It used to be, we ate the local fruits, vegetables and grains native to where we live. Now, with the rise of industrial agriculture and cheap exports, the Western diet is taking over the globe.
Turns out that’s a big problem – and not just for health reasons. As the world grows dependent on an ever-narrower selection of nutrients, we’re at greater risk of a widespread food crisis from an unexpected shortfall of wheat or other key crops.
Bloomberg journalists Jasmine Ng and Jin Wu join this episode from Singapore to talk about how and why the world’s diets converged. And Stefan Schmitz of Crop Trust–which promotes global food diversity–comes on the show to give a preview of what our dinner plates will look like in the future.
Learn more about this story here: https://bloom.bg/3BRQWWN
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A Favorite Loophole of the Rich Is Leaving Charities High and Dry
Billionaires are increasingly taking advantage of a provision in the US tax laws that lets them park money designated for charity in something called a donor advised fund. They get a tax break up front…and can let the money sit in the fund for as long as they like. It’s eventually got to be given to a charitable cause, but they don’t have to say when, or where it’ll go.
Bloomberg reporters Noah Buhayar, Ben Steverman and Sophie Alexander join Wes for a look at their analysis and reporting on donor advised funds–and why they’ve become so popular among the super wealthy. Jan Masaoka, CEO of the California Association of Nonprofits, also stops in to talk about what it means for charities that depend on those delayed dollars.
Learn more about the episode: https://bloom.bg/3GxT3ll
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Banks Vowed To Help Black Homebuyers. What Happened?
In the aftermath of the 2008 financial crisis, some of the biggest mortgage lenders in the US promised to extend billions in new loans to Black homebuyers. That hasn’t happened. Instead, the numbers are going in the opposite direction.
Bloomberg senior economics writer Shawn Donnan joins Wes this episode to talk about why banks have fallen short of the goal–and what it means for families across the country. Dedrick Asante-Muhammad of the National Community reinvestment Coalition also joins to spell out what needs to be done to fix the problem.
Learn more about this story here: https://bloom.bg/3YyRgDA
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When A Coal Mine Shuts Down, Locals Get The Shaft
As the US coal industry dwindles, big mining companies that once made a fortune are packing up–and leaving behind a staggering mess of destroyed land and poisoned water. So who’ll pay to clean it up? Bloomberg reporters Josh Saul and Zachary Mider spent time in coal country and join this episode to talk about the multi-billion-dollar game of pass the buck now playing out in Appalachia.
Learn more about this story here: https://bloom.bg/3HKh2yQ
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20 Extra Tons of — Ahem — Cargo
In 2019, US officials seized a massive cargo ship called the MSC Gayane in the Port of Philadelphia. On board, they found containers filled with products of all kinds that the ship had picked up along its global route. They also discovered cargo that didn’t appear on the ship’s manifest—40,000 pounds of cocaine.
Bloomberg investigative reporters Lauren Etter and Michael Riley join this episode to tell the wild story of how one of the world’s biggest cargo ships became an unofficial courier for a notorious European drug cartel.
Learn more about this story here: https://bloom.bg/3Gaa7h4
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An Important Step Forward For #MeToo
This year saw some important advances for #MeToo. The US Congress passed two bills, now signed into law, that protect the rights of women who come forward to report sexual abuse in the workplace–and make it harder for companies to try to silence them.
Two members of Congress who pushed that legislation through the House, Rep. Cheri Bustos and Rep. Lois Frankel, join this episode to explain the far-reaching consequences of the new laws.
Then Fatima Goss Graves, president and CEO of the National Women’s Law Center, and Bloomberg’s Equality editor Rebecca Greenfield give a broader view of how much has changed in the five years since #MeToo went viral–and how much more needs to be done.
Learn more about how companies in other countries are handling claims of sexism and racism: https://bloom.bg/3uRiW8Z
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Meet The Most Fascinating People In The World
Well, some of them anyway. Each year, Businessweek’s Bloomberg 50 list introduces you to people in business, entertainment, finance, politics, science and technology whose work helped define the year. The 2022 list includes familiar names doing new things (Tom Cruise) and new names doing historic things (Tom Oxley, whose company invented an implant that lets users communicate with brain waves).
Bloomberg 50 editor Bret Begun and a host of reporters join today's episode to share highlights from the list and talk about how the team made their picks.
Learn more about this story here: https://bloom.bg/3YkHh4A
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Fentanyl Deaths Are Overwhelming Cities
While everyone was focused on Covid over the past few years, America’s decades-old opioid crisis entered a new deadly phase – largely because of one drug in particular: fentanyl. Potent, cheap and ubiquitous, it’s sometimes mixed by street dealers with other drugs including marijuana, cocaine and even adderall, creating a ‘cocktail’ that kills people who unwittingly buy it.
Bloomberg reporters Emma Court, Linly Lin and Leonardo Nicoletti join this episode to talk about the consequences of fentanyl’s rise in cities around the country. And Helena Girouard, a health official in hard-hit Volusia County, Florida, gives an up-close look at the crisis there and how the local government is trying to bring it under control.
Learn more about this story here: https://bloom.bg/3FM4llG
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Teen TikTok is More Complicated Than You Think
Bloomberg Investigative reporter Olivia Carville has spent months delving into TikTok, the hugely popular video social network. In November, she joined the podcast to talk about children who have died copying dangerous video challenges of the kind that can be seen on the app. Today, Olivia is back to talk about her latest story about TikTok for Bloomberg Businessweek.
It follows the life of a 16-year-old girl from Florida whose provocative videos have won her millions of followers–and many detractors who say TikTok shouldn’t allow this kind of content from minors on the platform.
Learn more about this story here: https://bloom.bg/3Ph6mJz
Listen to the first conversation with Olivia about TikTok’s problem moderating the dangerous challenges HERE.
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Revolt of The Dairy Farmers
Our insatiable appetite for meat, eggs and cheese means there are billions of chickens, pigs and cows the world over. One consequence: animal agriculture is a leading contributor to greenhouse gas emissions and pollutants like ammonia and nitrogen.
In Europe, governments are starting to crack down—demanding farms dramatically cut the size of their herds to meet environmental goals. Farmers are, to put it mildly, furious.
Bloomberg reporter Diederik Baazil joins this episode from Amsterdam to talk about how farmer’s protests against the new rules are boiling over in the Netherlands. And Wes also catches up with reporter Agnieszka de Sousa, Bloomberg’s “food czar” based in London, for a look at how this problem has spread across Europe–and possible ways to fix it.
Learn more about this story here: https://bloom.bg/3FgxSSL
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Ticketmaster v. Swifties
A group of Taylor Swift fans is suing Ticketmaster, the big live event ticket provider, after sales for her upcoming concert tour went haywire. It’s also drawn the attention of the US Justice Department. The government is investigating whether Ticketmaster is using its dominance in ticket sales to drive out competitors and drive up prices.
And Ticketmaster isn’t the only big company in the government’s sights. The Biden administration has taken an activist stand against the consolidation of corporate power in tech and other industries..
Sara Forden, who leads Bloomberg’s coverage of corporate influence in Washington, and Leah Nylen, a reporter who writes about antitrust, join this episode to talk about Ticketmaster’s troubles– and a renewed push in Washington to rein in big companies.
Learn more about this story here: https://bloom.bg/3P7Jtbm
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The Richest Family In the World
The secretive Al Nahyan family of Abu Dhabi has amassed a fortune of $300 billion–and they’re investing it around the globe, in everything from green energy and healthcare to Manchester City Football Club, SpaceX and Rihanna’s lingerie line. Bloomberg reporters Devon Pendleton, Ben Bartenstein and Nicolas Parasie join this episode to talk about the family’s global reach.
Learn more about this story here: https://bloom.bg/3P3ChNz
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Heavy Sedation Saved People From Covid–At a High Price
In the early, scary days of the coronavirus pandemic, before vaccines, patients hospitalized with severe cases were often put on ventilators to keep them alive. That invasive treatment saved a lot of people. But the heavy sedation that sometimes went along with it has left many of them with debilitating side-effects. Doctors are now taking a hard look at how they’ve used sedation–and rewriting the rules for treating patients who require it.
Dr. Wes Ely, a critical care physician with Vanderbilt University and a sedation expert, joins this episode to talk about the lessons he and his colleagues have learned from Covid.
Jason Gale, a senior editor and biosecurity correspondent at Bloomberg who has reported extensively on the pandemic, also joins to tell the story of one woman whose life was saved, but may never be the same.
Learn more about this story: https://bloom.bg/3VCOH1h
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Why A Plus One Matters in the US Senate
Democrats kept control of the US Senate in November’s midterm elections. So why is the political world so obsessed with who’ll win Tuesday’s Senate runoff election in Georgia between Democrat Raphael Warnock and Republican Herschel Walker?
Bloomberg’s US politics editor Mario Parker, White House correspondent Nancy Cook and National editor Craig Gordon join Wes to answer that question–and explain how this single seat will determine the outcome of political battles heading into the 2024 presidential election.
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Why China’s Citizens Have Had Enough of Covid Zero
Senior executive editor John Liu joins Wes from Beijing to talk about the protests happening across China, as anger at the government’s Covid Zero policy boils over. John walks through why and how the demonstrations began, what the government is doing to tamp them down and what he saw and heard on the streets.
Learn more about this story: https://bloom.bg/3H5cVNt
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The UK’s Gambling Nightmare Is Heading to the US
Online gambling is enormously popular in the UK. Millions of people spend hours a day playing catchy games on their phones that keep them spinning–even when they’re losing big. No surprise that online gambling addiction is a serious issue.
Now, some US states are loosening their gambling laws. And with it comes concerns that the problems gamblers in the UK are experiencing will soon play out on an even larger scale in America.
Bloomberg reporters Gavin Finch and Harry Wilson join this episode to talk about the UK gambling boom, and what’s in store for the US. We also hear from Stewart Kenny, a co-founder of the gambling company Paddy Power, who walked away from the industry and is now one of its most vocal critics.
Learn more about this story here: https://bloom.bg/3iq35LM
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Young Kids Love TikTok–and That’s a Serious Problem
A heads up: This episode is on a difficult subject and some of it isn’t easy to listen to. You might want to listen with headphones if children are nearby.
In just a few short years, TikTok has become as ubiquitous as Instagram, Facebook and Twitter. The brief videos and fun dance challenges that TikTok’s one billion users post on its app often become viral sensations.
But there’s a darker side to the platform, and one TikTok is having a hard time fixing. Young children who aren’t supposed to have full access to the app are finding ways around the company’s safeguards and logging on. When they do, they're exposed to some content that's not suitable for kids, including viral videos that challenge users to do dangerous things– sometimes, with tragic results.
Bloomberg senior reporter Olivia Carville joins this episode to discuss her investigation of how kids are using TikTok–and what the company is doing about it.
You can read Olivia’s full investigation here: https://bloom.bg/3isBcmo
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China Sets Up Shop Right Next Door to the US
As China seeks to grow its economy and increase its global influence, it’s lending billions of dollars to help governments around the world fund big, expensive projects that otherwise would be out of reach. In Asia, Africa–and, notably, in Latin America, next door to the US.
That money could pay off politically, too, in the ongoing rivalry between Washington and Beijing. For a look at China’s global projects–and what its leaders hope to accomplish with them–Rebecca Choong Wilkins joins this episode. She’s a Bloomberg government reporter based in Hong Kong.
We then talk with Jonathan Gilbert, a reporter based in Buenos Aires, who describes what happens when China comes calling with lots of cash. And Dan Ten Kate, who oversees Bloomberg’s government coverage in Asia, stops by to explain why the US has been so slow to respond to China’s advances in the region.
Read more about this story: https://bloom.bg/3ijEYOS
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Be Honest– Do You Like Your Boss?
A good boss can make the difference between a job you love and one you can’t stand. Workers are more willing to suffer bad bosses when the job market is tight. But when they have choices–like now in the US–they’re quicker to demand better working conditions, or up and quit.
One place taking notice of employee discontent: America’s business schools. Senior reporter Matthew Boyle joins this episode to talk about why top MBA programs are now teaching classes on how to be a better boss. Wes also talks to two recent MBA grads about how their experience changed the way they think about running a business–and treating employees.
Learn more about this story here: https://bloom.bg/3Vv2mHk
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Just How ‘Green’ Are Green Bonds?
Green bonds are surging in popularity across the globe, as companies and governments want to show they’re investing in environmentally friendly projects–and people want to feel good about where they’re putting their money. The thing is, it’s not always easy to tell if a green bond is actually going toward a cleaner future–or if it’s mostly a marketing ploy.
Aaron Rutkoff, Executive Editor at Bloomberg Green, joins this episode to spell out what green bonds are, how they work and how to tell the difference between what’s real and what’s hype.
Wes also speaks to Hong-Kong based Bloomberg reporter Rebecca Choong Wilkins, who worked on a big story about the explosion of green bond spending in China. And producer Federica Romaniello takes us to a construction site in London to look at how green bonds are being used to fund a project to clean up the River Thames.
Learn more about this story here: https://bloom.bg/3i6bRye
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This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Rebecca Chaisson, Michael Falero and Federica Romaniello, Associate Producers: Sam Gebauer and Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.
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Inside A Culture Clash At Apple
A growing number of workers at Apple Stores across the US believe the company they once loved to work for is changing–and they’re not happy about it. They say the famously low-key, no-pressure showcases for Apple’s products have turned into just another retail floor, where associates at some stores and technicians at the Genius Bar are expected to upsell customers–or encourage them to buy new devices instead of fixing their current ones. Apple retail workers at two stores have already voted to unionize, and others may follow.
Josh Eidelson, Bloomberg’s senior labor reporter, joins this episode to look at the state of play for Apple workers who are frustrated with “Big Apple” and why some see the union drive as a way to persuade the company to return to its roots.
Wes and Josh also zoom out to look at how Apple’s retail challenges are similar to those of other big-name US companies where workers have unionized, and how the bosses are pushing back.
Learn more about this story here: https://bloom.bg/3V8usIs
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This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Rebecca Chaisson, Michael Falero and Federica Romaniello, Associate Producers: Sam Gebauer and Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.
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You Might Think Twice Before Buying Those New Jeans
Shein is one of the biggest fast-fashion brands in the world. Young women and girls film their “Shein hauls” for TikTok — showing off piles of trendy, cheap clothes they bought from the Chinese company. It’s on track this year for sales around $8 billion in the US alone.
But a new investigation traces the origin of the cotton in some Shein clothing to the Xinjiang region of China, where the US and other Western nations say the Chinese government has imprisoned Uyghur Muslims and carried out a campaign of forced labor.
Bloomberg senior writer Sheridan Prasso joins this episode to talk about her investigation–and about the downsides of the world’s demand for more and more cheap clothes. Ayesha Barenblat of Remake, a group that advocates for stronger ethics in the fashion industry, also comes on the podcast. She explains how to find out if your favorite clothing brands are acting responsibly–or cutting corners.
Learn more about this story here: https://bloom.bg/3XjC24E
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The Tiny Nation Suddenly Swimming In Oil
What happens when a small country all of a sudden strikes it fantastically rich? The South American country of Guyana, is finding out in a big way. A nation of just 800,000 people, its economy centered on agriculture and mining–until 2015, when Exxon discovered a massive oil field beneath Guyana’s territorial waters.
Now, Guyana is flush with oil riches. Monte Reel, a Bloomberg investigative reporter, joins this episode to tell the story of the unusual way the government plans to spend some of it– future-proofing the country from rising water that threatens its shores. But in 2015, Guyana — more specifically Exxon — struck oil. Billions and billions of barrels worth of oil. Now the country is going all in on its oil discovery — even as it navigates a warming planet.
Monte Reel is an investigative reporter for Bloomberg and recently spent time in Guyana. He joins this episode to share how this small country is navigating this massive influx of oil money.
Learn more about this story here: https://bloom.bg/3UMLv2P
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Virtually Reviving Ukraine’s Bombed Buildings
Russia’s military has targeted libraries and museums across Ukraine that housed irreplaceable books and documents and works of art.
Now, with the help of advanced digital modeling and other technology, Ukrainians are documenting what’s been destroyed — and preserving what can be salvaged for future generations.
This episode features Marc Champion, senior reporter for International Affairs at Bloomberg, who gives an up-close view of what’s happening in Ukraine now and where the war is headed. We also hear from Sergey Revenko, an architect in Kiev who constructs 3D digital models of destroyed cultural sites. And Bloomberg graphics reporters Marie Patino and Rachael Dottle tell us about an immersive interactive story they created that allows you to virtually walk through these buildings and see the war’s terrible toll.
Learn more about this story here: https://bloom.bg/3OaQYOg
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How Inflation Ends: Painfully
High prices for just about everything are making us all suffer–and there’s no end in sight. Why is inflation hanging on for so long, and when will it finally let go? The answer is…complicated. Fortunately Tom Orlik, Bloomberg’s chief economist, is here to cut through the confusion. He joins Wes to explain what’s happening to the economy in the US and around the world, and where things are headed.
Plus, Wes heads to the Rose Avenue Bakery in Washington DC to see firsthand how a small business is getting creative to stay afloat–and even thrive–during these chaotic times.
Learn more about this story here: https://bloom.bg/3Uw5PW4
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We Name Hurricanes, Why Not Heat Waves?
We’re talking about heat in this episode. That might strike you as a bit odd, especially if you live in the northern hemisphere where summer’s long gone by now. But it’s easy to put out of your mind that the Earth is getting hotter in the winter, too.
Extreme heat from climate change is now a major health threat that is sickening and killing more and more people.
This has led some cities — just a handful of them so far — to do something pretty interesting. They’ve hired “heat officers,” and two of them join Wes to talk through what it means to make a living battling rising temperatures–and why it’s a year round job.
Linda Poon with Bloomberg’s CityLab also joins Wes to explain why extreme heat has become top of mind, regardless of the season.
Read more here: https://bloom.bg/3TGrKZk
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Small Gun Makers Are Testing The Limits Of Gun Control Laws
The US Supreme Court has ruled that Americans have a Second Amendment right to keep guns in their homes for self-defense and to carry them in public. But the Court has also been clear that the federal government and states can require background checks and place certain restrictions on who can buy guns and where they can be carried. States can also limit or outlaw certain firearms for public safety.
In this episode, we look at how a rapidly growing number of small gunmakers are testing some of these restrictions–and finding a lucrative new market.
Jason Grotto, an investigative reporter for Bloomberg, joins to talk about the popularity of guns by niche manufacturers.
We also head to Denver to hear from Rob Pincus, a firearms safety instructor, former law enforcement officer and vocal gun rights advocate, who’s getting ready to bring his first gun to market.
Learn more about this story here: https://www.bloomberg.com/graphics/2022-gun-manufacturing/
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Where Does All Your Recycling Really Go?
Ever wonder what actually happens to all the plastic you dutifully toss in the recycling bin? Kit Chellel, an investigative reporter for Bloomberg, set out to answer that very question. And what he found out is…well we’re not gonna give it away. Then, Wes picks up with reporter Matthew Campbell, who went to see for himself where a lot of that plastic piles (and piles and piles) up.
This episode also features Judith Enck, president of Beyond Plastics, who explains why it’s so hard to recycle this stuff.
Learn more about this story here: https://bloom.bg/3tqqP4p
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The Mighty Mississippi Is Backed Up
The mighty Mississippi River cuts the United States essentially in half from Northern Minnesota all the way down to the Gulf of Mexico. It has a lot of history and romance around its waters, and is also one of America’s most important routes for commerce. More than 1 trillion pounds of goods travel down the river each year.
But, as water levels have dropped significantly in key parts of the river, it’s stopped some ships cold. The river is now backed up with billions of dollars of corn, wheat, fertilizer and steel, waiting for water levels to rise again. What happens when one of the most important rivers in the world’s largest economy can’t keep a boat afloat?
Michael Hirtzer, an agriculture reporter for Bloomberg in Chicago, joins this episode to answer that question. Wes also checks in with Captain E. Michael Bopp, a Mississippi River pilot and President of the Crescent River Port Pilot Association, and Clint Willson, Director of the LSU Center for River Studies,. for more on what it’s like to work on and study this critical river.
Learn more about this story here: https://bloom.bg/3ToEljC
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The Tiny Lab Finding Poison In Your Pills
The US Food and Drug Administration is supposed to make sure the medications we take are effective–and safe. But when a small independent lab in Connecticut called Valisure started testing popular drugs and health products, it turned up some alarming results–including carcinogens and other dangerous substances. You might think the FDA would welcome this information. Not so fast.
Bloomberg reporter Anna Edney joins this episode to talk about how Valisure’s findings have shined a light on serious flaws in the way medications are tested and approved. Valisure CEO David Light talks with Wes about how his lab identifies harmful substances in products, and how the FDA responded when he came forward with his lab’s findings. Then Dr. Diana Zuckerman, President of the National Center for Health Research, stops by to answer the question: Is the FDA too close to the companies it oversees?
Learn more about this story here: https://bloom.bg/3EdVico
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Choose One: Heat Your Home or Feed Your Family?
Here's a thought experiment. It's the middle of winter and you can't afford to pay for both heat and electricity. Which do you stop using first? The lights? The stove? The furnace?
This is the real life choice people in the UK and parts of Europe will have to make this winter, and in the years ahead. Fallout from Russia’s invasion of Ukraine and other economic pressures have driven up the price of fuel for homes and businesses alike. Earlier this year, the UK braced for shortages and planned for possible rolling power outages. Governments across Europe have rolled out fuel price supports to try to keep millions of households from falling into what’s called “fuel poverty.” And the problem won’t stop there. People everywhere, including the US, will face rising prices and uncertainty as nations compete for affordable, reliable energy.
To sort out what’s happening, Rachel Morison joins this episode. She leads Bloomberg’s energy coverage in the UK and across Europe.
And Rosalind Mathieson, who oversees Bloomberg’s government coverage, stops in to look at the broader impact across the globe.
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US, EU Seized Russian Billionaires' Yachts. Then Came the Bill
Since Russia invaded Ukraine in February, the US and other Western nations have imposed economic sanctions on scores of Russian billionaires close to President Vladimir Putin. They’ve also gone after their assets–including the enormous yachts prized by billionaires the world over.
But now comes the question: What will happen to them? Investigative Reporter Stephanie Baker joins this episode from London to share her reporting on big boats in legal limbo.
Learn more about this story here: https://bloom.bg/3TbFfzQ
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The Copper You Need Is Stuck In A 30-Mile Traffic Jam
Here’s a random yet important fact: Copper is one of the very best conductors of electricity of all metals. And that matters, because as we move toward a world in which more and more things in our lives plug in or charge up–not just your phone, but electric vehicles, solar panels and wind turbines that will power the future–copper is in increasingly high demand. Worldwide, about 21 million metric tons of it are hauled up from the ground each year. And demand will soon double.
Some of the richest reserves of copper are found in Southern Africa. But getting it from deep underground and trucking it thousands of miles to buyers can be a harrowing journey.
Without more production or new mines, the world could be looking at shortages, and soaring prices for copper and the products that use it. Joining this episode are Santiago-based commodities reporter James Attwood, and Yvonne Yue Li, a metals and mining reporter in New York. They’ll explain what a coming copper shortage could mean for us all.
Reporter Matthew Hill also stops by to describe his visit to a huge mine in Zambia, where he descended thousands of feet underground to see copper being blasted from the rock–and talked to the truckers who risk their safety bringing it to port.
Learn more about this story here: https://bloom.bg/3fxYXrQ
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The Covid Vaccine Is Fueling A Race For All Kinds Of Cures
Messenger RNA technology made it possible for scientists and drugmakers to quickly develop a Covid-19 vaccine.
Now, pharmaceutical companies are racing to use mRNA for other illnesses, including flu, cancer and rare genetic diseases.
Dr. Drew Weissman, one of the researchers who pioneered the mRNA technology that led to the Covid vaccine, joins this episode to talk about his discovery, and the impact it will continue to have on the way patients are treated. Bloomberg’s biosecurity reporter Riley Griffin stops in to discuss Pfizer’s next phase of developing mRNA vaccines. And Bloomberg’s chief medical writer Robert Langreth forecasts how this technology could transform treatment for a variety of illnesses.
Learn more about this story here: https://bloom.bg/3fm3Bt8
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Climate Change Is Already Wreaking Havoc On The COP27 Host
On November 6, leaders around the world will gather for the annual UN Climate Change conference, known this year as COP27. The aim: finding ways to slow the warming of the planet, before it’s too late.
Take Egypt—it’s getting hotter at twice the pace of some other nations, and also happens to be the host of this year’s conference. If it continues to warm at its current rate, the country's crops will wither and the capital, Cairo, will become unlivable. What’s happening in Egypt right now is a glimpse into the future for the rest of us if governments don’t get serious about the climate.
Bloomberg climate reporter Laura Millan Lombraña joins this episode from Madrid to walk us through what’s at stake as COP27 is set to begin–and give us the good and bad news about where the Earth’s climate is heading. And energy reporter Salma El Wardany joins from Cairo with perspective from the ground after talking with Egyptian farmers who fear for their futures.
Learn more about this story here: https://bloom.bg/3DvW6YF
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The US Midterms Will Decide If the 2024 Election Can Be Stolen
The US is just a week away from the midterm elections, which will decide governors’ races in 36 states--and whether Democrats will keep their majority in the House of Representatives and the Senate. Some Republicans up for election, though, are still disputing the results of the last election. Taking their cue from former President Donald Trump, hundreds of GOP candidates falsely claim that Trump was the real winner in 2020 and that Joe Biden stole the election from him.
In five key states where Trump tried and failed to overturn the results in 2020, Republican nominees for governor and other roles overseeing elections are pushing changes to election laws. If they succeed, it could be easier to dispute the outcome if Trump or another candidate tried to do that again in 2024, when the White House is next at stake.
To measure how sound the US election system is, Bloomberg created an “Election Risk Index” that assesses how vulnerable states are to political election interference not just in 2022, but in the years ahead.
Ryan Teague Beckwith, one of the reporters on the project, joins this episode to talk through the potential risk these candidates pose, especially for the 2024 presidential election. And US politics editor Mario Parker gives the latest on key races.
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What Happens if the Supreme Court Kicks Affirmative Action Off Campus?
For decades, colleges and universities across the US have promoted the value of having a diverse student body on campus.
The Supreme Court could soon change that. On Oct. 31, the justices will consider two challenges to affirmative action in college admissions, and if they choose to strike it down, there will be enormous repercussions for who gets into the nation’s top schools — and who doesn’t.
So what will college campuses look like in an America without affirmative action? And are there other ways for admissions officers to work around a potential ban on the practice?
Bloomberg Senior Reporter Greg Stohr joins with insights on what we can expect from the Supreme Court, and Equality Reporter Kelsey Butler explains how colleges around the country are bracing for massive disruption.
Learn more about this story here: https://bloom.bg/3SO4b0m
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Clash of the Streaming Titans
Remember when everyone loved to complain how there were 150 channels on TV and nothing good to watch? It’s pretty hard to say that now. There are so many good shows being made.
Our new complaint: how hard it is to watch all those great shows, especially when they’re spread across so many streaming services—and most of them you have to pay for.
How did we get here? Bloomberg media reporter Felix Gillette has answers. He’s the co-author of the upcoming book It's Not TV: The Spectacular Rise, Revolution, and Future of HBO.
Felix joins this episode to break down why TV has never been better–and yet has never been more frustrating to watch. Bloomberg’s entertainment reporter Lucas Shaw also stops in to explain how this shift has changed the way Hollywood decides which shows get made--and which ones don't.
Read the Book excerpt here: https://bloom.bg/3SI08CA
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The US Middle Class Is Doing Fine. Why Are They So Worried?
Hello and welcome to The Big Take Podcast!
Today: The good news, and not so good news, about the US middle class. With inflation rising, the stock market ping-ponging and housing prices softening, that broad swath of Americans who form the backbone of the US economy are getting hit on all sides. Bloomberg reporters Shawn Donnan, Alex Tanzi, Claire Ballentine and Airielle Lowe teamed up to take a look at how middle-income Americans are doing. The answer: Not so badly, actually–at least on paper.
Even so, they’re worried about what’s next for them. And they have good reason to be.
Shawn sits down with Wes to share the results from their exclusive polling and what these precarious economic times mean for the fortunes of working Americans.
Learn more about this story here: https://bloom.bg/3faCxwM
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Introducing: The Big Take
Each weekday, The Big Take brings you one story—one big, important story that impacts your life. Host Wes Kosova talks to Bloomberg journalists around the world, experts in their fields and the people at the center of the news to help you understand what’s happening, what it means and why it matters. Money, politics, the economy and business, energy, the environment, technology—we cover it all on The Big Take. And we do it in plain English.
The Big Take features the best of Bloomberg's in-depth, original reporting from around the globe. Listen each weekday starting on Oct. 27.
Learn more about The Big Take www.bloomberg.com/bigtake and subscribe to our daily newsletter https://bloom.bg/3rBmR9g.
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En liten tjänst av I'm With Friends. Finns även på engelska.