Big Take

Are “natural” diamonds still worth it if you can get a near-identical alternative for a fraction of the cost? With a boost from celebrities like Sarah Jessica Parker, lab-grown competitors could be coming for the crown. On today’s Big Take podcast, guest host Stacey Vanek Smith talks to industry insiders and De Beers Group CEO Al Cook about what $12 half-carat earrings could mean for the luxury business’ future and how the old guard is pushing back.  Read more: The Diamond Industry’s Old Guard Wants You to Buy ‘Natural’ We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer Host: Stacey Vanek Smith; Guests: Al Cook, Edahn Golan, Adelle Archer; Produced by Julia Press; Edited by Aaron Edwards; Engineering by Sean Carter. See omnystudio.com/listener for privacy information.

US economic growth is up but consumer sentiment is down. Another rate hike, expected this year, could help lower inflation, but do little to ease the frustrations of much of the middle class, for whom the American dream sits just out of reach. On today’s Big Take podcast, editors Matthew Boesler and Cristina Lindblad join Sarah Holder to unpack what the data says is happening in the US economy and why consumer sentiment tells another story. Read more:  The Trump Stock Market Is Lousy for Most US Consumer Prices Rise by Most Since April in Broad Advance We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Host: Sarah Holder; Guests: Matthew Boesler and Cristina Lindblad; Produced by David Fox; Edited by Paddy Hirsch and Naomi Shavin; Engineering by Emma Munger. See omnystudio.com/listener for privacy information.

Energy prices are up — and President Trump is out of time to bring them down before the US midterm elections.  On today’s Big Take podcast, David Gura breaks down the factors keeping prices high and how much it could cost the Republican party with White House reporter Josh Wingrove and Will Kubzansky, who covers gasoline, diesel and jet fuel. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Host: David Gura; Guests: Josh Wingrove and Will Kubzansky; Produced by Julia Press, David Fox, Julia Weaver; Edited by Naomi Shavin; Engineering by Sean Carter. See omnystudio.com/listener for privacy information.

When millions of retail investors piled into India’s options market to get rich quick, losses mounted and regulators launched a sweeping crackdown.  On today’s Big Take Asia podcast, guest host Rebecca Choong Wilkins and India equities reporter Savio Shetty break down how the world’s largest options market unraveled, why regulators are struggling to police the country’s latest craze and where traders are placing their bets now.  Read more: How India Built (and Broke) the World’s Biggest Options CasinoFurther listening: Inside Jane Street: The Enigmatic Firm That Rules Wall Street Watch, from Originals: How India's Day Retail Traders Lost Billions Host: Rebecca Choong Wilkins; Guest: Savio Shetty; Produced by Naomi Ng and Yang Yang; Edited by Crispina Robert and Julia Weaver. Engineering by Sean Carter II. See omnystudio.com/listener for privacy information.

The AI infrastructure boom is funded by a complex web of investments, as tech companies pour money into one another and foreign investors funnel still more cash into the industry. That flow of foreign money is also creating global imbalances — and flashbacks to the run-up to the 2008 financial crisis. On today’s Big Take podcast, Bloomberg’s Shawn Donnan and Bloomberg Economics’ Tom Orlik join David Gura on the AI industry’s global money machine: how it works and what risks it could pose to the global economy if the AI trade doesn’t deliver fast enough.  Read more: AI’s Giant Money Loop Is Drawing Foreign Cash Like 2008 National Bureau of Economic Research: Financing the AI Buildout View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns on the Bloomberg Billionaires Index. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Host: David Gura; Guests: Shawn Donnan and Tom Orlik; Produced by David Fox, Brunella Tipismana Urbano; Edited by Tracey Samuelson; Engineering by Emma Munger. See omnystudio.com/listener for privacy information.

As US journalist Azadeh Moaveni was writing her latest book, ‘The East Wing’, a history of America's first ladies and their staff, President Donald Trump’s demolition of that very part of the White House was underway.  Moaveni presents her book as a “parallel women’s history,” tracing how the wives of US presidents, including Melania Trump, who traditionally had offices in the now-vanished annex, helped shape alliances at home and abroad.   See omnystudio.com/listener for privacy information.

Jane Street just eclipsed Goldman Sachs and JPMorgan as the biggest trading house on Wall Street. It pulled in nearly $40 billion in trading revenue in 2025. And it’s so enigmatic that to the outside world, it’s unclear who’s even in charge. On today’s Big Take podcast, David Gura talks to finance reporters Max Abelson and Katherine Doherty on their reporting on who’s calling the shots at the firm and why it matters to global markets. Read more: Who’s Who at Jane Street We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Host: David Gura; Guests: Max Abelson and Katherine Doherty; Produced by David Fox; Edited by Jeffrey Grocott; Engineering by Sean Carter. See omnystudio.com/listener for privacy information.

Ultra-wealthy individuals in the UK have been fleeing the country, after sweeping Labour Party tax reforms led to a crackdown on overseas wealth. For the first time, new data from the Bloomberg Billionaires Index reveals just how much money is at stake with the exodus. On today’s Big Take podcast, host Sarah Holder talks to Bloomberg’s Benjamin Stupples about the UK’s $160 billion problem and the impact it could have on Britain’s economy. Read more: London Takes a Hit as Super Rich Worth $160 Billion Exit UK “Taxation and Migration by the Super-Rich” (2025 CESifo Working Paper)  Bloomberg Billionaires Index We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Host: Sarah Holder; Guest: Benjamin Stupples; Produced by Julia Press, Julia Weaver; Edited by Paddy Hirsch, Aaron Edwards; Engineering by Emma Munger. See omnystudio.com/listener for privacy information.

President Trump is campaigning in Texas on Wednesday, rallying voters in a state that’s long been a Republican stronghold. His efforts in traditionally red states around the country show how surprisingly close many of these midterm races have become — and the outcome will determine if Trump’s party can hold onto the Senate and advance his agenda for the next two years. On today’s Big Take podcast, Texas bureau chief Julie Fine and Washington correspondent Josh Wingrove join host Sarah Holder to break down the ultra-expensive, surprisingly competitive Texas Senate race and what it would mean for Trump’s presidency if he loses the Lone Star state. Further Listening:  Can $700 Million Buy Republicans the US Senate? Europe’s Debt Problem Is Back We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Host: Sarah Holder; Guests: Julie Fine, Josh Wingrove; Produced by David Fox, Julia Press; Edited by Naomi Shavin; Engineering by Sean Carter. See omnystudio.com/listener for privacy information.

Beyond software and chips, the AI boom relies on good old-fashioned manufacturing of essential components – a skill that has made a new class of people very, very rich. On today’s Big Take Asia podcast, host Oanh Ha talks with Bloomberg reporter Cindy Wang and Opinion columnist Catherine Thorbecke about how nimble producers—think toilet manufacturers and furniture makers—pivoted to this booming industry, and the risks of concentrating too much AI manufacturing in one part of the world. Read more: ‘Like It’s Raining Gold’: The AI Boom’s Unexpected Billionaires Bloomberg Billionaires Index: 500 of the World’s Richest People  We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by K. Oanh Ha; Guests: Cindy Wang, Catherine Thorbecke; Produced by Naomi Ng and Yang Yang; Edited by Crispina Robert and Paddy Hirsch Engineering by Greg Tock. See omnystudio.com/listener for privacy information.

Bond yields are climbing from the US to Japan — pushing up borrowing costs and putting fresh stress on governments, markets and consumers. In France, that strain could deepen into a broader crisis for the euro zone. On today’s episode, Bloomberg Opinion columnist John Authers and Navy Federal Credit Union Chief Economist Heather Long join Sarah Holder to discuss what’s driving the rise in yields, how long they could stay elevated and what lessons the Greek debt crisis might hold for France. Read more:  Could Bond Yields Break the Stock Market? Soaring Yields Find Europe’s Weak Spot View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns on the Bloomberg Billionaires Index. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Host: Sarah Holder; Guests: John Authers, Heather Long; Produced by Julia Press, David Fox; Edited by Tracey Samuelson, Jeffrey Grocott; Engineering by Emma Munger. See omnystudio.com/listener for privacy information.

Amid growing concern over AI risks, top tech executives were summoned to the White House this past week and agreed to US President Donald Trump’s preferred alternative to federal regulation. The accord, which carries no legal weight, commits Anthropic, OpenAI, Nvidia, Meta, SpacexAI and Google to “robust internal processes” and independent audits, and comes soon after safety worries delayed the release of the latest ChatGPT model. At Google, James Manyika’s role as senior vice president of technology and society — and as co-director of the newly established DeepMind Institute — is to help ensure that AI turns out well. In this conversation with Mishal Husain, the two discuss what regulation could look like without the support of the US and where Google stands in the debate. Read Mishal’s notes on this conversation https://www.bloomberg.com/mishal See omnystudio.com/listener for privacy information.

Romantasy books have created a near-billion-dollar industry in the US alone. This week, fans are racing to grab a copy of Rebecca Yarros’ Threshing Day, and bracing for the sixth installment of one of the genre’s biggest hits, A Court of Thorns and Roses by Sarah J. Maas, coming later this month. On today’s Big Take podcast, Bloomberg’s Hannah Miller and Madison Muller take host David Gura into the booming world of publishing’s runaway obsession. And The Knave and the Moon author Rachel Gillig talks about going from preschool teacher to global literary celebrity. Read more: The Steamy, Magical and Now Very Lucrative Romantasy Business We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Host: David Gura; Guests: Hannah Miller, Madison Muller; Produced by Julia Press and David Fox; Edited by Aaron Edwards; Engineering by Sean Carter; Illustration by Anna Podedworna. See omnystudio.com/listener for privacy information.

The Premier League has found its top-ranked club, the star-studded and highly decorated Manchester City, guilty of artificially boosting financial results by more than £900 million over nine years. The franchise used “sham” contracts to build an unprecedented competitive advantage. The team has until Oct. 2 to respond to the charges. On today’s Big Take podcast, David Gura and UK-based Business of Sports Editor Giles Turner unpack the cheating allegations against Man City and how the scandal could reshape the entire league. Read more: Man City Broke Rules With ‘Sham’ Contracts, League Finds Popular on Bloomberg: Who’s Who at Jane Street We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Host: David Gura; Guest: Giles Turner; Produced by Julia Press and David Fox; Edited by Naomi Shavin; Engineering by Emma Munger. See omnystudio.com/listener for privacy information.

The 2026 midterms are on track to become the most expensive elections in US history, with Republican Senate candidates raking in hundreds of millions from PACs and Democrats riding a growing wave of individual donations. So who has the edge? On today’s Big Take podcast, Bill Faries, who oversees Bloomberg’s midterm coverage, and campaign finance reporter Bill Allison join Sarah Holder to break down how each party is raising and spending cash and what it means for control of the Senate — and for the coming presidential race. Read more: Shifting Senate Map Is Fueling Most Expensive Election Ever Further Listening: Why Everyone Is Talking About High Diesel Prices We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Host: Sarah Holder; Guests: Bill Allison and Bill Faries; Produced by David Fox and Julia Press; Edited by Jeffrey Grocott; Engineering by Sean Carter. See omnystudio.com/listener for privacy information.

China is ramping up an ongoing effort to shore up local government budgets and fund AI data centers with tax revenue from its richest citizens. Billionaires across the country are seeing bills hit their doorstep, and one major deadline to pay up is just weeks away. On today’s Big Take podcast, host David Gura talks to Bloomberg’s Lulu Chen about why Beijing is enforcing and rewriting its tax rules, and the measures some wealthy citizens are taking to pay up or fight back.View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns on the Bloomberg Billionaires Index. Read more: China’s Tax Grab Squeezes Rich Elite Harder Than Ever Further listening: China Tightens Its Grip on Billions in Offshore Wealth Hosted by David Gura; Guest: Lulu Chen; Produced by Naomi Ng; Edited by Aaron Edwards, Engineering by Greg Tock See omnystudio.com/listener for privacy information.

At over 5%, the 10-year Treasury yield is the highest since 2007. Those soaring yields are raising lots of questions about whether investors should be trimming stocks and buying bonds. But timing such a move can be complicated.  On today’s Big Take podcast, Bloomberg’s David Papadopoulos and Michael Regan join host Sarah Holder to discuss whether we’re on the brink of a great portfolio reallocation, two very different reasons why bond yields are rising and why one prominent AI skeptic is embracing the trade he once shunned. Further reading: AI Skeptic Rajiv Jain Embraces the Tech Trade He Once Shunned Further listening: Why Everyone is Talking About High Diesel Prices We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Host: Sarah Holder; Guests: David Papadopoulos and Michael Regan; Produced by Julia Press and David Fox; Edited by Tracey Samuelson; Engineering by Sean Carter. See omnystudio.com/listener for privacy information.

In 2014, the economists Owen Zidar and Eric Zwick were asked by the US Treasury to conduct a study on the tax burden of private business owners. One of their central findings is that there are about three million private business owners who have an average wealth of around $25 million. The research they conducted led to their new book, The Everywhere Millionaire: Who Is Really Rich in America and How They Got There.On this week's Weekend Listen, Odd Lots co-hosts Joe Weisenthal and Tracy Alloway talk to Zidar and Zwick about how they measured the actual number of rich people in America, why income inequality started to rise in tandem with the growing number of pass-through businesses, and how it's possible that the collective revenue of the nation's dentists far exceeds that of the NFL. Read more: Tech’s New Rich Are Suffering From ‘Sudden Wealth Syndrome’ Jobless Tech Workers Are Being Left Out of San Francisco’s AI Boom See omnystudio.com/listener for privacy information.

People who fabricate artificial stone are getting sick with a deadly chronic illness—on that, there’s no debate. But whether it’s the individual shops or the material’s manufacturers who should be held responsible is the subject of a highly political dispute playing out across the US. On today’s Big Take podcast, Bloomberg labor reporter Josh Eidelson breaks down the consequences of this dispute for the industry and the people who work in it. Read more: ‘Death Sentences’: Crafting America’s Favorite Countertops Is Killing Workers We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Host: Sarah Holder; Guest: Josh Eidelson; Produced by Julia Press; Edited by Naomi Shavin; Engineering by Alex Sugiura. See omnystudio.com/listener for privacy information.

At this week’s UN General Assembly meeting in New York, an AI executive delivered dire warnings via video. President Trump threatened to annihilate Iran. China’s Xi Jinping skipped the meeting altogether. Eight decades after its founding as a guarantor of world peace, does the UN still matter? On today’s Big Take podcast, what UN week and the Xi-Trump summit mean for global security and the future of multilateralism. Host David Gura speaks with Bloomberg’s managing editor for international security and economics, Nick Wadhams, and Bloomberg TV’s chief political correspondent Annmarie Hordern. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by David Fox and Naomi Ng; Guests: Annmarie Hordern and Nick Wadhams; Edited by Jeffrey Grocott; Engineering by Emma Munger. See omnystudio.com/listener for privacy information.

Diesel prices are hitting new highs, and voters aren’t happy. With the midterms approaching, the Trump administration is trying to find ways to curb fuel costs, including a potential US diesel export ban. On today’s Big Take podcast: The political fallout of sky-high diesel prices. Bloomberg national economics reporter Mark Niquette and host Sarah Holder break down what’s driving up costs, why prices are hitting battleground states particularly hard and whether an export ban could backfire. Read more: Record Diesel Prices Hit at Worst Time in Key Battleground States We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by David Fox; Reported by Mark Niquette Edited by Tracey Samuelson; Engineering by Alex Sugiura See omnystudio.com/listener for privacy information.

As Chinese President Xi Jinping makes his first visit to Washington in over a decade, trade and the AI race will likely dominate talks with Donald Trump. On today’s Big Take Asia podcast, host K. Oanh Ha and Bloomberg’s John Liu unpack what each leader hopes to gain and why they may have no choice but to cooperate on AI safety. Read more: The Tough AI Questions Looming Over the Trump-Xi Summit We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by K. Oanh Ha; Produced by Yang Yang and Naomi Ng; Edited by Crispina Robert and Paddy Hirsch Engineering by Alex Sugiura See omnystudio.com/listener for privacy information.

The Iran War is likely to take center stage when President Trump meets with Gulf leaders on the sidelines of this week's UN General Assembly. Houthi attacks in Saudi Arabia and rising energy prices underscore the widening global toll of a war that has cost the US more than $43 billion, according to the Pentagon's latest estimate. On today's Big Take podcast, Bloomberg Global Defense Editor Gerry Doyle and Bloomberg Economics Defense Lead Becca Wasser join Sarah Holder to break down the conflict’s latest costs – the rising tab for the US's six-month-long blockade of the Strait of Hormuz, the drawdown of US munitions stockpiles and the deepening toll on military personnel – and how the war has changed the US's ability to defend itself in future conflicts. Read more: Iran Blockade Costs Are Draining America’s Global Military Power We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Reported by Gerry Doyle and Becca Wasser;  Produced by Julia Press; Edited by Jeffrey Grocott; Engineering by Emma Munger. See omnystudio.com/listener for privacy information.

American pharma giants are increasingly turning to Chinese labs to discover, test and develop cutting-edge drugs. On the Big Take Asia podcast, Bloomberg’s Amber Tong and Robert Langreth join Oanh Ha to break down why global drugmakers are sourcing their next big breakthroughs from China — and what that means for US biotech dominance. Read more: Big Pharma Is Hooked on Chinese Licensing Deals Hosted by K. Oanh Ha; Produced by Naomi Ng and David Fox; Guests: Amber Tong and Robert Langreth; Edited by Paddy Hirsch and Crispina Robert. Fact-checking by Brunella Tipismana Urbano; Engineering by Alex Suguira. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

It’s been a big week for central banks around the world. Yet among the flurry of rate decisions, the Bank of Japan’s move stands out. After decades of near-zero interest rates, policymakers are betting Japan’s economy is finally returning to something closer to normal. On today’s Big Take Podcast, K. Oanh Ha and Bloomberg’s Paul Jackson explore why the Bank of Japan is hiking rates at its fastest pace in decades, what the shift means for the yen carry trade and how Japan’s policy moves could ripple across global markets. Read more: BOJ Hikes at Fastest Pace Since 1990 After Bessent’s Calls Hosted by K. Oanh Ha and David Gura; Guest: Paul Jackson; Produced by Naomi Ng, Julia Press and David Fox; Edited by Crispina Robert and Paddy Hirsch. Engineering by Sean Carter. See omnystudio.com/listener for privacy information.

The “working class” in America used to conjure a vivid image: factory workers, blue-collar jobs and a political coalition born out of the Industrial Revolution. But as Republicans and Democrats try to court voters ahead of midterms, a question keeps coming up: What is the working class today? On today’s Big Take podcast, host Sarah Holder talks to Bloomberg Opinion columnist Allison Schrager, labor activist Bertha “Mama Cookie” Bradley and Distinguished Professor of Law Joan C. Williams about the moving target of defining and catering policy to working Americans. Read more: Nobody Knows What ‘Working Class’ Even Means Anymore We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Guests: Allison Schrager, Joan C. Williams, Bertha “Mama Cookie” Bradley; Produced by Rachael Lewis-Krisky and Brunella Tipismana Urbano; Edited by Aaron Edwards. Engineering by Emma Munger. See omnystudio.com/listener for privacy information.

The Federal Reserve raised interest rates by 25 basis points today and indicated another hike could come later this year. Chair Kevin Warsh had telegraphed the move, putting him on a collision course with President Donald Trump. Today on the Big Take, Bloomberg Opinion’s John Authers and Fed reporter Maria Eloisa Capurro join David Gura to discuss why a “no forward guidance” Fed chair showed his hand so early and what it means for the markets and the midterms.  Read more: Fed Raises Rates as Warsh Bucks Trump to Contain Inflation We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Guests: John Authers, Maria Eloisa Capurro; Produced by Rachael Lewis-Krisky; Edited by Naomi Shavin; Mixed by Alex Sugiura See omnystudio.com/listener for privacy information.

AI executives across the industry, led by Anthropic CEO Dario Amodei, called for a coordinated slow down in AI development over the weekend. The move followed a viral post on X from a former Anthropic employee who resigned over safety concerns. On today’s Big Take podcast, Bloomberg tech editor Sarah Frier joins Sarah Holder to break down the motivations behind those responses — and how IPOs, inflation and the economy are all at play. Listen more: So Could AI ‘Kill Us All’? Read more: Anthropic's $2 Trillion IPO Is Still On. And So Is the AI Race We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Host: Sarah Holder; Guest: Sarah Frier Produced by David Fox; Edited by Tracey Samuelson. Mixed and mastered by Sean Carter. See omnystudio.com/listener for privacy information.

In the midst of a trade war with the US, Canadian Prime Minister Mark Carney is on a charm offensive. On today’s Big Take podcast, Bloomberg’s Derek Decloet and host David Gura break down how Canada is reassessing its trade and security relationships and cozying up to Europe. Read more: Canada’s Carney on Capital Investment, AI, US Trade We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by David Fox; Reported by Derek Decloet; Edited by Paddy Hirsch. Fact-checking by Brunella Tipismana Urbano; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

LIV Golf split the professional circuit early this decade with its flashy tournaments and payouts that outstripped what golfers were earning on PGA tours. Now, after five years — and more than $5 billion in investments from the Saudi Public Investment Fund — LIV filed for Chapter 11 bankruptcy protection. On today’s Big Take podcast, Golf.com’s Sean Zak joins host David Gura to explore why LIV wasn’t able to convert lavish spending and an attention-grabbing feud with the PGA into big audience numbers. Zak explores the prospect for a player-owned LIV 2.0 and looks at whether the upstart tour was ultimately good for professional golf. Read more: LIV’s Great Saudi-Backed Assault on Golf Ends With Whimper LIV Golf Files Bankruptcy With Post-Saudi Future Uncertain LIV Golf Shows Money Can Buy Stars — But Not Fans We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Julia Press; Guest: Sean Zak; Edited by Jeffrey Grocott. Fact-checking by Brunella Tipismana Urbano; Engineering by Alex Sugiura. Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Tens of thousands of workers in India are wearing head-mounted cameras to record their every move, helping train humanoid robots to perform everyday human tasks. On today’s Big Take Asia podcast, Bloomberg’s Saritha Rai joins host Rebecca Choong Wilkins for an inside look at how vast troves of data are gathered by the very people who may eventually be replaced and what it all means for the US-China race for AI dominance. Read more: Workers Are Teaching AI-Powered Robots to Take Over Their Jobs  We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Rebecca Choong Wilkins; Produced by Yang Yang; Reported by Saritha Rai; Edited by Crispina Robert, Patrick Hirsch.Fact-checking by Brunella Tipismana Urbano; Engineering by Alex Sugiura.Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

"The people building AI earnestly believe that it could kill us all by the end of the decade." An X post by a former employee of both OpenAI and Anthropic went viral and is prompting big questions. On today’s Big Take podcast, host Sarah Holder and Bloomberg’s Mike Shepard talk through what an AI safety reckoning could look like — and whether an industry in the midst of intense competition can slow down.   Read more:  Anthropic Worker Quits Over AI Firms ‘Gambling With Our Lives’  Moonshot Secretly Routed User Requests Through Claude, Anthropic Says  We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Guest: Mike Shepard; Edited by Naomi Shavin and Aaron Edwards. Fact-checking by Brunella Tipismana Urbano; Engineering by Sean Carter. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Oil prices topped $100 per barrel on Wednesday, keeping gas prices and the Iran war at the center of the US midterms conversation. Can President Trump burnish his affordability credentials with what he’s calling “the biggest oil deal in world history”?   On today’s Big Take podcast, Bloomberg Opinion Energy columnist Liam Denning and Andes Bureau Chief Patricia Laya join David Gura to discuss what we know so far about the administration’s plan to take a stake in Venezuelan oil producer North American Blue Energy Partners — and what obstacles the deal could face. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. See omnystudio.com/listener for privacy information.

The bond market has been grabbing headlines and roiling global markets, particularly in the US and in Japan, where yields are surging and buyer interest remains low. That matters, because as Bloomberg Opinion’s John Authers says, the yield on the 10-year treasury note is the most important number in world finance.  On today’s Big Take podcast, John Authers joins Stacey Vanek Smith to explain what surging bond yields mean for interest rates and why we could be seeing a correction, not a crisis. Read more: It’s Still Endless Summer for Bond YieldsVolatility Limits Post-Labor Day US Bond Rush to Six-Year Low  We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Stacey Vanek Smith; Produced by Rachael Lewis-Krisky; Guest: John Authers; Edited by Naomi Shavin. Fact-checking by Brunella Tipismana Urbano; Engineering by Sean Carter. Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The wellness and longevity boom has come for a new kind of consumer: your pet. But with clinical trials still underway and questions lingering about the safety and efficacy of off-label drugs and treatments, how are owners navigating the growing industry? On today’s Big Take podcast, Bloomberg’s Annika Inampudi and host Sarah Holder dig into the latest frontier in the predicted $165 billion market for pet spending in the US. Plus, we meet a Manhattan dog owner who’s trying just about everything to keep his furry friends healthy. Read more: Can Your Dog Live Forever? Pet Owners Are Trying Everything Further listening: The Underground Peptide Market Is Getting Ready to Go Mainstream We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Julia Press and Victor Swezey; Reported by Annika Inampudi and Anna Edney; Edited by Aaron Edwards and Tracey Samuelson. Fact-checking by Rachael Lewis-Krisky and Brunella Tipismana Urbano; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Energy consumers are used to a pretty simple transaction with utility companies: get electricity to power your home, pay up every month. Now, more consumers are stockpiling their own energy using solar panels and batteries. And some are even making money by selling that energy back to the grid. On today’s Big Take podcast, host Sarah Holder talks to Zero host Akshat Rathi about a new class of at-home energy trader that’s vibe coding its way to daily energy savings and big profits. Read more: Almost Anyone Can Make Money Selling Electricity With AI and Batteries We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Julia Press; Reported by Akshat Rathi and Olivia Rudgard; Edited by Aaron Edwards. Fact-checking by Rachael Lewis-Krisky, Victor Swezey and Brunella Tipismana Urbano; Engineering by Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Hundreds of hydropower workers remain missing in Nepal after a glacial collapse caused catastrophic flooding. The disaster laid bare the rising climate risks across Asia and the danger of building in an increasingly volatile environment. On today’s Big Take Asia podcast, guest host Rebecca Choong Wilkins sits down with Bloomberg’s Clara Ferreira Marques and Bloomberg Opinion’s David Fickling to talk about the human and economic toll of the disaster, why the catastrophe is a warning for the rest of the world and how Nepal’s big bet on clean energy may now be at risk. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Rebecca Choong Wilkins; Produced by Yang Yang; Reported by Clara Ferreira Marques, David Fickling; Edited by Paddy Hirsch, Crispina Robert and Tracey Samuelson. Fact-checking by Naomi Ng; Engineering by Alex Sugiura Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver; Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Russia escalated attacks on the Ukrainian capital of Kyiv this past weekend. It’s the latest signal that Ukraine could face a brutal, decisive winter in this conflict. Meanwhile, the CIA director paid Moscow a visit last week, and “hybrid” attacks in Europe that have been linked to Russia are heightening concern among NATO countries that the conflict could widen as Russia takes the upper hand.  On today’s Big Take podcast, host Sarah Holder and Bloomberg Opinion’s Marc Champion unpack the latest developments in the Russia-Ukraine war, the state of European and American involvement and why the next few months could be so crucial.  Read more:  Russia’s Escalating Hybrid Attacks Put Europeans in a Bind  Ukraine Is In More Danger Than It Seems We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Guest: Marc Champion; Edited by Naomi Shavin. Fact-checking by Big Take team; Engineering by Sean Carter. Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Meta has agreed to pay a $17 billion settlement over a range of claims related to the safety and privacy of its platforms, including youth use of social media. The outcome, announced last week, could have implications for other companies, too. On today’s Big Take Podcast, Bloomberg investigative reporter Olivia Carville talks to host Sarah Holder about the landmark case, and how new information about the death of a teenage TikTok user in 2022 could shape the debate around child safety online. If you or someone you know is having thoughts of suicide or self-harm, a global list of helplines is available at blog.opencounseling.com/suicide-hotlines. Read more: TikTok Withheld a Safety Feature From Millions. One Died by Suicide We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Reported by Olivia Carville; Edited by Aaron Edwards and Julia Weaver. Fact-checking by Brunella Tipismana Urbano; Engineering by Sean Carter. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

 A 12-foot grim reaper becomes a neighborhood war cry, and the preacher-podcaster crosses the street.Today on The Big Take: Chapter 4 of Our Town, a limited-run series from Bloomberg and The Big Take, hosted by Meribah Knight with Bloomberg’s Susan Berfield. Our Town tells the story of a battle over identity fought on one small town’s soil, where acreage, heritage, and what it means to be an American are all up for grabs. New episodes of Our Town publish on Mondays, but you can listen early on Fridays right here in The Big Take feed. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.  Hosted by Meribah Knight with Susan Berfield Produced by: Rebecca Laks and David Fox with Julia Weaver and help from Laura Newcombe Edited by: Rebecca Laks and Ken Armstrong Original Score and Mixing by: Alex Sugiura Fact-checking by: Annika Robbins and Rachael Lewis-Krisky Executive Producer: Nicole Beemsterboer  See omnystudio.com/listener for privacy information.

With Fed Chairman Kevin Warsh set to deliver the biggest speech of his tenure on Friday, anticipation is spreading well beyond bankers and traders. Bond yields are rising, as global economies send up inflationary signals. US Treasury Secretary Scott Bessent’s efforts to tamp down rates by buying bonds may complicate the Fed’s approach. And the keynote speaker himself has suggested that he’s not comfortable sending messages about Fed intentions. So what can he say? On today’s Big Take podcast, Odd Lots co-host Joe Weisenthal joins Sarah Holder to tee up Warsh’s speech at the Kansas City Fed’s symposium in Jackson Hole, Wyoming, and the challenges facing Warsh and other global central bankers. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Julia Press; Guest: Joe Weisenthal; Edited by Jeffrey Grocott.  Engineering by Emma Munger. Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Microdramas — mini soap operas designed to be watched on your phone — have become one of the fastest-growing forms of entertainment in the world. On today’s Big Take Asia podcast, host K. Oanh Ha speaks with Bloomberg’s Yang Yang and Bloomberg Businessweek’s Christopher Beam about how millions got hooked on the medium, the challenges studios face as they try to reach new audiences and how AI could transform it all. Read more: China Has the World Hooked on Two-Minute MicrodramasChina Brought 90-Second Microdramas to the US. Now Hollywood Wants In We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by K. Oanh Ha; Produced by Naomi Ng and Victor Swezey; Reported by Yang Yang and Christopher Beam; Edited by Paddy Hirsch and Crispina Robert. Fact-checking by Victor Swezey; Engineering by Alex Sugiura and Sean Carter. Senior Producer: Naomi Shavin. Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

After amassing US land for more than a century, the Church of Jesus Christ of Latter-day Saints has recently started turning unused tracts into big suburban housing developments. On today’s Big Take podcast, commercial real estate reporter Natalie Wong and data journalist Ann Choi tell host Sarah Holder about the development plans of the church’s real estate arm, Property Reserve. They also introduce their exclusive tally of the church’s holdings — at least 2.4 million acres across the US, according to a Bloomberg News review of property records compiled by real estate data provider Reonomy. Read more: The Mormon Church Is Quietly Expanding Its Real Estate Empire Across the US We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Julia Press; Reported by Natalie Wong and Ann Choi; Edited by Jeffrey Grocott. Fact-checking by Laura Newcombe; Engineering by Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

On today’s Big Take podcast, Bloomberg’s Amanda Gordon and Emily Birnbaum join host Sarah Holder to discuss how political spending is shaping the US midterm elections, who is funding candidates behind the scenes and what’s at stake for both Republicans and Democrats. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Guests: Amanda Gordon and Emily Birnbaum; Edited by Nicole Beemsterboer. Fact-checking by Big Take team; Engineering by Sean Carter. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Backers of the venture are big fans of a town in Idaho where a preacher with a flamethrower tells our reporters how much he hates feminism. Today on The Big Take: Chapter 3 of Our Town, a limited-run series from Bloomberg and The Big Take, hosted by Meribah Knight with Bloomberg’s Susan Berfield. Our Town tells the story of a battle over identity fought on one small town’s soil, where acreage, heritage, and what it means to be an American are all up for grabs. New episodes of Our Town publish on Mondays, but you can listen early on Fridays right here in The Big Take feed. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.  Hosted by Meribah Knight with Susan Berfield Produced by: Rebecca Laks with Julia Weaver and David Fox and help from Laura Newcombe Edited by: Ken Armstrong with Rebecca Laks Original Score and Mixing by: Alex Sugiura Fact-checking by: Annika Robbins Executive Producer: Nicole Beemsterboer  See omnystudio.com/listener for privacy information.

On today’s Big Take podcast, economy reporter Shawn Donnan walks David Gura through what eight years of tariffs have meant for steel mills, can manufacturers, food growers and consumers. And as the second Trump administration continues to pursue tariffs – see this week’s 11th-hour negotiations with Canada over the US’s latest proposed duties – Donnan looks at how manufacturers have tried to adapt. Read more: What the American Tin Can Reveals About Trump’s Volatile Tariff Policy We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Rachael Lewis-Krisky; Reported by Shawn Donnan; Edited by Jeffrey Grocott. Fact-checking by Brunella Tipismana Urbano; Engineering by Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

On today’s Big Take podcast, Stacey Vanek Smith and Bloomberg Opinion’s John Authers unpack the bond market rollercoaster: a sell-off, the highest US 30-year bond yields since the financial crisis — and a sudden intervention. Read more: The 30-Year Itch Comes for Bonds — and Brazi Further listening: What Higher Bond Yields Mean for Markets and Everyday Borrowers (Big Take Podcast) We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Stacey Vanek Smith; Produced by Rachael Lewis-Krisky and Victor Swezey; Guest: John Authers; Fact-checking by the Big Take team; Engineering by Zoltan Sindhu and Alex Sugiura. Senior Producer and editor: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

North Korea was supposed to be broke and isolated. Now, it’s enjoying an unexpected economic boom. On today’s Big Take Asia podcast, Bloomberg’s Cat Barton and host K. Oanh Ha unpack North Korea’s shift from pandemic-era hardship to a multibillion-dollar windfall, and discuss how the country’s newfound wealth is reshaping geopolitical alliances. Read more: Kim Jong Un Flouted Sanctions to Amass $22 Billion WindfallFurther listening: North Korea’s Nuclear Program Reaches Tipping Point for the US Watch, from Originals: Why Sanctions Aren’t Stopping North Korea See omnystudio.com/listener for privacy information.

New York City Mayor Zohran Mamdani is backing a bill that would challenge the subcontractor model Amazon relies on for last-mile deliveries, and the company is spending millions to fight it. On today’s Big Take podcast, reporters Spencer Soper and Josh Eidelson unpack what this bill could mean for the delivery drivers — and corporate America’s reliance on subcontractors more broadly. Read more: Amazon Is in the Crosshairs of Mamdani’s Worker Agenda What Trump Delivered for Amazon We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky and Julia Press; Reported by Josh Eidelson and Spencer Soper; Edited by Naomi Shavin and Julia Weaver. Fact-checking by Victor Swezey and Brunella Tipismana Urbano; Engineering by Sean Carter. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Diana looks into the town’s newest arrivals: What’s their deal — and who are their friends?Today on The Big Take: Chapter 2 of Our Town, a limited-run series from Bloomberg and The Big Take, hosted by Meribah Knight with Bloomberg’s Susan Berfield. Our Town tells the story of a battle over identity fought on one small town’s soil, where acreage, heritage, and what it means to be an American are all up for grabs. New episodes of Our Town publish on Mondays, but you can listen early on Fridays right here in The Big Take feed. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.  Hosted by Meribah Knight with Susan Berfield Produced by: Rebecca Laks with Julia Weaver and David Fox and help from Laura Newcombe Edited by: Ken Armstrong with Rebecca Laks Original Score and Mixing by: Alex Sugiura Fact-checking by: Annika Robbins Executive Producer: Nicole Beemsterboer See omnystudio.com/listener for privacy information.

The 7.4-magnitude earthquake that devastated Colombia this week was also an immediate test for the country’s new Trump-aligned president. Abelardo de la Espriella, who campaigned on slashing Colombia's deficit and cracking down on armed rebel groups, now faces the prospect of  stalling coffee shipments and a costly relief effort, in his first week in office. On today’s Big Take podcast, host David Gura talks to Bloomberg’s Oscar Medina in Bogotá, Colombia, and Travis Waldron in Brasília, Brazil, about what this moment could mean for a divided Colombia — and for Latin America’s tilt to the right. Read more:  ‘Waiting for Any Sign of Life’: Colombia Reels After Quake Colombia Quake Toll Tops 260, Prompting Economic Emergency Colombia Earthquake Pressures President Right From the Get-Go We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Rachael Lewis-Krisky and Victor Swezey; Reported by Travis Waldron and Oscar Medina; Edited by Jeffrey Grocott. Fact-checking by Laura Newcombe and Brunella Tipismana Urbano; Engineering by Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The launch of Moonshot AI’s Kimi K3 model has taken the tech world — and Washington — by storm, raising urgent questions about how a Chinese startup can suddenly rival the world's most powerful AI systems. On today’s Big Take Asia podcast, host Oanh Ha speaks with Bloomberg’s Mark Anderson about the distillation method behind Moonshot’s breakthrough and what it means for the high-stakes AI race between the US and China. Read more: Moonshot Plans IPO in Six Months After China AI Breakthrough See omnystudio.com/listener for privacy information.

The online shopping app Phia raised over $43 million and captured media attention for its A-list investors and its high-profile co-founders — Phoebe Gates, daughter of Bill Gates, and her college roommate and podcast co-host Sophia Kianni. But Bloomberg reporting suggests that Phia was pushing features that took credit for sales it didn’t drive. On today’s Big Take podcast, Bloomberg technology editor Olivia Solon shares her reporting on Phia and what the startup’s founders may have known about those features. Read more:  Gates Heir’s Shopping App Claimed Sales It Didn’t Drive Phoebe Gates Knew Phia Shopping App Took Credit for Sales It Didn’t Drive We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Julia Press; Reported by Olivia Solon. Fact-checking by Victor Swezey and Brunella Tipismana Urbano; Engineering by Alex Sugiura and Emma Munger. Senior Producer and Editor: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

US Treasury Secretary Scott Bessent’s move to prop up the yen was as surprising as its impact was fleeting. By Monday, the yen lost half of its gains since last month’s intervention, raising questions about what comes next. On today’s Big Take podcast, Bloomberg’s Daniel Flatley and Chris Anstey join David Gura to break down Bessent’s unorthodox currency strategy and to explore how far Bessent might be willing to go to support another country’s currency. Read more: How Bessent Brings a ‘Buy-Side’ Mindset to Economic Statecraft Behind Bessent Moves, Wall Street Sees a Bond-Market Angst Listen More: Why a Weak Yen Is America’s Problem Carry Trades, Explained Hosted by David Gura; Produced by Laura Newcombe and David Fox; Reported by Daniel Flatley and Chris Anstey; Edited by Jeffrey Grocott. Fact-checking by Victor Swezey and Brunella Tipismana Urbano; Engineering by Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Oh, the things you can find with an inquisitive mind – and a metal detector.Today we’re bringing you Chapter 1 of Our Town, a limited-run series from The Big Take, hosted by Meribah Knight with Bloomberg’s Susan Berfield. The series tells the story of a battle over identity fought on small town soil, where acreage, heritage, and what it means to be an American are all up for grabs.  The limited-run series will publish on Fridays in The Big Take. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Meribah Knight with Susan Berfield  Produced by: Rebecca Laks with Julia Weaver and David Fox and help from Laura Newcombe Edited by: Ken Armstrong with Rebecca Laks Original Score and Mixing by: Alex Sugiura Fact-checking by: Annika Robbins Executive Producer: Nicole Beemsterboer  See omnystudio.com/listener for privacy information.

Situational Awareness, a hedge fund run by a 24-year-old hailed as “Nostradamus of AI”, swelled to $45 billion in assets until a mix of highly leveraged bets, short sellers and a market swoon threw it into crisis. On today’s Big Take podcast, Bloomberg’s Katherine Burton and Hema Parmar join Sarah Holder to discuss how risky bets led the fund to the brink and whether the episode speaks to broader vulnerabilities among hedge funds investing in AI. Read more:  The 24-Hour Race to Salvage Situational Awareness’ AI Bets Bloomberg Opinion: Hedge Fund’s 439% Return Should Have Been the Warning Situational Awareness Returns to Investing With $400 Million Bet Listen to Money Stuff Podcast: No Kiddie Pool  We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Reported by Katherine Burton and Hema Parmar; Edited by Jeffrey Grocott. Fact-checking by Victor Swezey and Laura Newcombe; Engineering by Sean Carter. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

When new neighbors move into Gainesboro, Tennessee, a small town at the foothills of Appalachia, locals are confused. Who are these self-proclaimed pioneers? And what do they want with their little town?Locals soon discover the new arrivals are connected to something much larger: A network of far-right Christians who have ties to Washington and are backed by venture capital. This is a story about a battle over identity fought on small town soil with small town spunk. Where acreage, heritage, and what it means to be an American are all up for grabs. Episode 1 will be available to Big Take listeners Friday, August 7. See omnystudio.com/listener for privacy information.

For generations, women have struggled to access information about menopause and how best to treat its symptoms. Social media and the rise of telehealth have filled some of that gap, giving way to a $19 billion economy. But is the commercial menopause marketplace serving women or leaving them behind? On today’s Big Take podcast, health and science journalist Kristen V. Brown explores the benefits and risks of the menopause treatment gold rush, and we hear from a woman who spent years navigating the vast market herself. Read more: The Menopause Gold Rush Is Failing Women We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Julia Press; Reported by Kristen V. Brown; Edited by Aaron Edwards. Fact-checking by Rachael Lewis-Krisky and Victor Swezey; Engineering by Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

As the Japanese yen hit a 40-year low against the US dollar, Japan's government stepped in to support its currency. And it has a powerful ally in US President Donald Trump, who is putting the US financial might behind the historic currency intervention in what he called a “signal of friendship.” On today’s Big Take Asia podcast, host K. Oanh Ha sits down with chief Asia foreign exchange correspondent Ruth Carson to unpack how the yen fell so far, what it could take to get it back on track and what’s at stake for the global economy. Read more: Bessent Says Yen Level Problem for Japan, Other Currencies  Further listening: Carry Trades, Explained Could the Chinese Yuan Ever Replace the US Dollar? We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by K. Oanh Ha; Produced by Naomi Ng, Yang Yang, Rachael Lewis-Krisky and Victor Swezey; Reported by Ruth Carson; Edited by Paddy Hirsch and Tracey Samuelson. Fact-checking by Victor Swezey; Engineering by Emma Munger and Taka Yasuzawa. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

US crude prices fell below $80 for much of the day Monday as oil traders factored in a potential deal to reopen the Strait of Hormuz. But even as reports of imminent peace deals or attacks jolt oil markets, fuel prices at US gas stations have remained high. Late last week, US oil companies Exxon and Chevron reported their biggest profits in years. On today’s Big Take podcast, oil reporter Mitchell Ferman joins host Sarah Holder to explain why oil companies are built for global conflict. Read more:  Big Oil Set to Reap Profit Bonanza From Soaring Fuel Prices Exxon, Chevron Steer Windfall Profits Into Paying Down Debt We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Laura Newcombe; Reported by Mitchell Ferman; Edited by Jeffrey Grocott. Fact-checking by Rachael Lewis-Krisky and Victor Swezey; Engineering by Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Insurers have quietly become a major driver of the private credit boom, with numerous private equity shops striking deals with insurance companies or buying them outright. But the entanglement with private credit is also changing the insurance industry itself, raising a number of questions about risk and regulation. In this week's Weekend Listen, Odd Lots speaks to Andrew Granato and Pranjal Drall, authors of a new paper, “Private Credit's State Backstop: How Private Equity Socializes Risk Through Insurers," examining the relationship between private credit and insurance. Granato (an assistant professor at the UT Austin Law School) and Drall (JD-PhD student in Financial Economics at Yale) talk to us about how PE got so interested in insurance in the first place, how both sides benefit from the relationship, and why taxpayers might ultimately be on the hook. Read more:Blue Owl Surges as Leaders Stress It’s More Than a Direct LenderAres $29 Billion Private Credit Fund Sees Uptick in Non-Accruals Only Bloomberg - Business News, Stock Markets, Finance, Breaking & World News subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at  bloomberg.com/subscriptions/oddlots Subscribe to the Odd Lots NewsletterJoin the conversation: discord.gg/oddlots See omnystudio.com/listener for privacy information.

The path to the future of the Democratic Party — and to the White House in 2028 — may well run through Michigan. The state’s upcoming Democratic primary election is a highly anticipated showdown between a Democratic-Socialist-backed candidate and a centrist one, who are vying for both a crucial seat in the US Senate and a major say in the party’s priorities. On today’s Big Take podcast, host David Gura sits down with senior political correspondent Nancy Cook and Bloomberg Opinions’ Ronald Brownstein to unpack the stakes of the Democratic primaries in this midterm cycle and what they could reveal about the party’s future. Read more:  How the Michigan Primary Could Shape the Midterms Democrats’ 2028 Map Reshapes the Fight Between Left and Center   We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Rachael Lewis-Krisky; Reported by Nancy Cook and Ronald Brownstein; Edited by Naomi Shavin. Fact-checking by Laura Newcombe and Victor Swezey; Engineering by Sean Carter. Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

From margarine to chocolate treats, some brands are swapping in cheaper ingredients to save money on their most beloved products. It’s a trend known as “skimpflation.” But what happens when consumers start to notice? On today’s Big Take podcast, Stacey Vanek Smith hears from Brad Reese, grandson of the Reese’s Peanut Butter Cup creator, about his crusade against the practice, the multi-million-dollar cottage industry that’s formed around it and the economic conditions that got us here in the first place. Read more: How Brands Sneak In Cheaper Ingredients to Protect Their Profit Margins We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. See omnystudio.com/listener for privacy information.

With the US midterms fast approaching, voters and the media are increasingly looking to a new forecasting tool: prediction markets. The leading platforms, Kalshi and Polymarket, have been touted as a truth serum for political forecasting — arenas for mass betting that reveal what people really think when they’ve got money on the line. But a new Bloomberg investigation has found evidence that these markets are vulnerable to manipulation. On today’s Big Take podcast, host Sarah Holder and Bloomberg investigative reporter Liam Vaughan dig into what can happen when prediction markets mix with politics — and how cheap and easy it can be to sway them. Read more: How a Few Hundred Dollars Could Manipulate Election Prediction Markets We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Victor Swezey and David Fox; Reported by Liam Vaughan; Edited by Tracey Samuelson. Fact-checking by Julia Press; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Weeks of student-led protests forced the resignation of India’s education minister, in a rare public setback for Prime Minister Narendra Modi. On today’s Big Take Asia podcast, guest host Rebecca Choong Wilkins and Bloomberg reporter Atul Dev discuss how India’s cockroach movement grew from a satirical online joke into a powerful anti-Modi protest and why its economic grievances resonate so deeply among young Indians at this moment. Read more: Awakened Indian Students Hand Modi One of His Biggest SetbacksIndia Youth Protests End as Modi Bows to Group’s Demands Hosted by Rebecca Choong Wilkins; Produced by Naomi Ng; Reported by Atul Dev; Edited by Jeffrey Grocott, Paddy Hirsch and Julia Weaver.  Fact-checking by Rachael Lewis-Krisky and Julia Press; Engineering by Taka Yasuzawa, Alex Sugiura, Emma Munger Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

As President Trump paused strikes on Iran over the weekend, he ratcheted up pressure on another front: his renewed trade war. On Friday, the US president imposed levies of 10 or 12.5% on 60 economies, the first in many steps to rebuild the tariff wall destroyed when the Supreme Court overturned Trump’s IEEPA tariffs in February. On today’s Big Take podcast, Bloomberg’s global trade editor Brendan Murray sits down with host David Gura to break down the latest tariffs, what they reveal about the administration’s new strategy and whether they’ll hold up in court. Read more: Trump Rebuilds Tariffs With New Levies on 60 Economies How Trump’s Section 301 Tariffs Are Being Challenged in Court Watch more: US Trade Rep. Greer on China Relations and Section 301 Tariffs We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Julia Press and Rachael Lewis-Krisky; Reported by Brendan Murray; Edited by Nicole Beemsterboer. Fact-checking by Rachael Lewis-Krisky; Engineering by Emma Munger. See omnystudio.com/listener for privacy information.

As wealth becomes increasingly concentrated — and artificial intelligence threatens to shift even more income from workers to investors — has the US tax system become outdated? On this Weekend Listen, Trumponomics' Stephanie Flanders speaks with Harvard professor Jason Furman, a former economic adviser to President Barack Obama, and Bloomberg reporter Caitlin Reilly about wealth taxes, capital gains, inheritance and whether taxing America's richest is politically or constitutionally possible. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. See omnystudio.com/listener for privacy information.

American consumers disputed nearly 30% more credit card transactions in 2025 than they did just four years earlier. Some of those “chargebacks” are legitimate issues or outright scams. But increasingly, many are what Bloomberg Businessweek reporter Amanda Mull says is friendly fraud — transaction disputes that aren’t completely honest or the retailer’s fault. On today’s Big Take podcast, Mull joins host Sarah Holder to discuss the sharp rise in chargebacks, and the consequences of this trend for retailers, banks and consumers. Read more: Credit Card Holders Are Using ‘Friendly Fraud’ to Get Back at Retailers We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Julia Press; Reported by Amanda Mull; Edited by Naomi Shavin. Fact-checking by Laura Newcombe; Engineering by Sean Carter. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

After the pandemic-era run on medical gloves, the US government set a plan in motion to reshore manufacturing. Roughly six years and almost $1 billion later, America is once again facing potential shortages of medical gloves because of supply chain disruptions stemming from the war in Iran. On today’s Big Take podcast, host Sarah Holder and health care industry reporter Anna Edney break down why US efforts to make American medical gloves have largely failed, what it says about reshoring manufacturing writ large and where the industry goes from here.  Read more: Almost $1 Billion Later, the US Still Can’t Make a Medical Glove We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Laura Newcombe and Rachael Lewis-Krisky; Reported by Anna Edney; Edited by Naomi Shavin. Fact-checking by Victor Swezey; Engineering by Sean Carter. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

How did Tether — the largest stablecoin issuer in the world — go from fighting stablecoin regulation to supporting the Genius Act? That’s the subject of a new Bloomberg News investigation into how Trump insiders helped to loosen safeguards and shape the process that led to the law in ways that benefitted the company. On today’s Big Take podcast, Bloomberg’s Anthony Cormier and David Kocieniewski detail their reporting for host Sarah Holder, including how US Commerce Secretary Howard Lutnick, according to court filings, ‘managed to kill’ less favorable legislation before taking office, and how former White House aide Bo Hines defended a provision Tether wanted – before going to work for the company. Read more: How Tether Benefited as Trump Insiders Shaped First US Crypto Law Further listening: Meet Tether, The Most Powerful Crypto Firm You’ve Never Heard Of We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by David Fox; Reported by Anthony Cormier, David Kocieniewski and Annie Massa; Edited by Aaron Edwards, Tracey Samuelson. Fact-checking by Rachael Lewis-Krisky; Engineering by Emma Munger, Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

When a 1,000-year-old Cambodian statue came up for auction at Sotheby’s in New York, it sparked off an investigation that uncovered one of the world’s most extensive art trafficking networks. On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Matthew Campbell and American lawyer Bradley Gordon on how Cambodia’s looted treasures ended up scattered around the world and what it takes to bring them home. Read more: Chasing the Man Who Stole the Gods Watch, from Originals: Cambodia to Museums: We Want Our Statues Back We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by K. Oanh Ha; Produced by Naomi Ng; Reported by Matthew Campbell; Edited by Aaron Edwards. Fact-checking by Victor Swezey and Yang Yang; Engineering by Taka Yasuzawa and Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. Photo by Agnes Dherbeys/The New York Times/Redux See omnystudio.com/listener for privacy information.

From celebrity wedding details to the timing of military strikes, prediction markets have opened the door to gambling on almost anything. They’ve also created a new class of insider trader that platforms and US regulators are racing to stop. On today’s Big Take podcast, Bloomberg’s Denitsa Tsekova and Leonardo Nicoletti join host Sarah Holder to break down a $200 million surge in unusual bets on Polymarket — and explore what it will take for regulators to rein them in. Read more: Prediction Markets Are Minting a New Type of Insider Trader We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky and Victor Swezey; Reported by Denitsa Tsekova and Leonardo Nicoletti; Edited by Aaron Edwards and Julia Weaver. Fact-checking by Victor Swezey, Laura Newcombe and David Fox; Engineering by Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Tucker Carlson was one of Donald Trump’s most prominent allies when he campaigned for re-election and through his first year back in the White House. The US-Israel war with Iran, however, marked a decisive split between the two men. Carlson, a right-wing media personality, now argues that Trump has abandoned his “America First” agenda and allowed Israel to drive US foreign policy.In this conversation, Carlson tells Mishal Husain about how he advised against starting the war with Iran. He also talks about his faith in Vice President JD Vance and his belief that feminism has exploited women in the workplace. Contact The Mishal Husain Show [email protected]   See omnystudio.com/listener for privacy information.

There’s a historic mismatch between fun-supply and fun-demand in the US this summer. Americans are clamoring for places to relax and socialize. But the purveyors and conduits of fun — like airlines, theme parks, resorts, concert venues, camps and more — are all grappling with the same inflationary pressures as the rest of us — making fun more expensive and harder to access.  On today’s Big Take podcast, host Sarah Holder talks to Bloomberg's Ben Steverman about why a fun shortage is a serious problem for society — and what can be done about it.  Read more: The Fun Shortage Is Real, and It’s Making America Miserable We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Laura Newcombe; Reported by Ben Steverman; Edited by Naomi Shavin. Fact-checking by Rachael Lewis-Krisky; Engineering by Sean Carter. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

A slate of new data this week painted a tepid but slightly optimistic picture of the US economy: Consumer prices declined in June for the first time in six years, jobless claims ticked down and retail sales rose modestly. So why doesn’t the data match up with how Americans are feeling? On today’s Big Take podcast, host Sarah Holder talks to Bloomberg’s Reade Pickert and labor economist Kathryn Anne Edwards about what the data does (and doesn’t) tell us about the state of the US economy. Read more: How’s Inflation? Depends How It’s Measured We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Julia Press; Reported by Reade Pickert; Edited by Aaron Edwards. Fact-checking by Victor Swezey, Rachael Lewis-Krisky; Engineering by Sean Carter. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

President Donald Trump’s 2025 financial disclosure showed earnings unlike anything Americans have seen from a sitting US president: $1.4 billion in cryptocurrency, 21,000 securities trades and millions from his resorts and golf clubs. On today’s Big Take podcast, Bloomberg campaign finance reporter Bill Allison joins host Sarah Holder to look at the ethical concerns the disclosure raises and what — if any — political fallout could follow. Read more:  Trump Reports at Least $1.4 Billion in 2025 Crypto Earnings  Trump Reports Receiving About $120,000 in Sports Events Tickets Trump Financial Disclosure Shows 21,000 Trades in 2025 We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Reported by Bill Allison; Fact-checking by Victor Swezey; Engineering by Alex Sugiura; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

China’s men’s soccer team has qualified for the World Cup just once, despite millions in investment and a personal push from President Xi Jinping to turn the nation into a footballing powerhouse. On today’s Big Take Asia podcast, host Oanh Ha speaks with Eric Zhu of Bloomberg Economics and Mark Dreyer, sports writer and author of Sporting Superpower, about why the country’s top-down engineering approach fails to capture the grassroots magic of the game and how academic pressure continues to push many young players off the field. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Oanh Ha; Produced by Yang Yang and Naomi Ng; Edited by Patrick Hirsch, Julia Weaver; Fact-checking by Julia Press; Engineering by Taka Yasuzawa Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The last few days have brought a flurry of developments in the Iran war. As armed hostilities between the US and Iran resumed over the weekend, news broke that US Senator Lindsey Graham had died. Graham was a staunch supporter of Israel and of the war in Iran. And on Monday, President Trump declared US control over the Strait of Hormuz and demanded a 20% reimbursement rate for all cargo that moves through the waterway. It’s not clear when the war with Iran will end. But when it does, the balance of power in the Middle East will look very different than it did before Hamas attacked Israel on October 7, 2023. On today’s Big Take podcast, Bloomberg’s Peter Martin joins host David Gura to discuss the new alliances, revised trade routes and expanded battlefields that are reshaping the Middle East. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Laura Newcombe; Reported by Peter Martin; Edited by Nicole Beemsterboer. Fact-checking by Victor Swezey; Engineering by Alex Suguira. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The great famine of the 1870s killed 50 million people – and El Niño was a key driver. Another El Niño phase has just begun and it’s expected to be among the strongest. There are five times as many people in 2026 as there were in the 1870s and the planet is 1.4C hotter. So are we better prepared? In this weekend's listen, Bloomberg’s Akshat Rathi speaks with Mingfang Ting, professor of climate at Columbia University, about the natural phenomenon and its interaction with human-caused climate change. Read more: Bloomberg Green's deep dive on extreme heat Thoughts or suggestions? Email [email protected]. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green. See omnystudio.com/listener for privacy information.

Some of the world’s top tennis players will face off at the Wimbledon finals this weekend. The players who make it to Centre Court have already achieved a bigger feat: a career as a tennis player. On today’s Big Take podcast, Bloomberg’s Hannah Miller and The Athletic’s Matt Futterman break down what sets tennis apart from other sports and the challenges the tournaments and players face to stay profitable. Further Listening : Rafael Nadal's Retirement Is So Great He Doesn't Miss Tennis Read more:  Grand Slam prize money is enormous. The economics of tennis tournaments is complicated Wimbledon Investors Cash In With VIP Seats Costing Over $500,000 Matt Futterman’s book, The Cruelest Game, is available for pre-order We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Julia Press; Reported by Matt Futterman, Hannah Miller; Edited by Aaron Edwards. Fact-checking by Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Maine Democrat Graham Platner’s withdrawal from his US Senate race is ratcheting up an already intense run-up to the US midterm elections. And yet, across the political spectrum, lawmakers in Washington agree that they need to deliver — quickly — on promises of affordability. With broad bipartisan support, they passed the 21st Century ROAD to Housing Act, billed as allowing more Americans to achieve the dream of home ownership. But the bill’s fate has been thrown into doubt by President Trump, who surprised lawmakers by declining to sign it. On today’s Big Take podcast, Bloomberg housing policy reporter Katy O’Donnell and Megan Scully, who leads Bloomberg’s Congressional coverage, join Sarah Holder to discuss what’s in the housing bill, how Trump could still steer its fate and what his intervention could mean for Republicans in the midterms. Read more:  Would Congress’ New Housing Bill Lower Home Prices? Trump, GOP Clash After President Scraps Housing Bill Signing We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Reported by Katy O’Donnell and Megan Scully; Edited by Jeffrey Grocott. Fact-checking by David Fox and Victor Swezy; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

For two decades, American universities have doubled down on master’s programs, relying on graduate degrees as their financial backbones. Now, the Trump administration’s policies are posing existential threats to that business model. On today’s Big Take podcast, education reporter Liam Knox joins host Sarah Holder to break down the administration’s three-pronged attack on graduate school and the impact it could have on students, universities and America’s place on the global stage. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Julia Press; Reported by Liam Knox; Edited by Tracey Samuelson. Fact-checking by Victor Swezey; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

China rattled neighbors from Japan to Australia on Monday by test-launching a long-range ballistic missile from a nuclear submarine in the Pacific Ocean. While such launches are rare, the latest test reflects Beijing’s increasing openness about its growing military strength. On today’s Big Take Asia podcast, Rebecca Choong Wilkins, who covers Asian government and politics, joins host K. Oanh Ha to discuss the surprise launch, China’s expanding arsenal and what they reveal about Beijing’s military aspirations for 2027 and beyond. Read more:  China’s ICBM Tests Point to New Normal Rattling the Pacific China Holds Rare Test of Sub-Launched Missile in Pacific Ocean China’s Secretive Missile Program Is Making Dozens of Companies Rich We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by K. Oanh Ha; Produced by Naomi Ng and Rachael Lewis-Krisky; Reported by Rebecca Choong Wilkins; Edited by Jeffrey Grocott, John Liu and Julia Weaver; Fact-checking by Julia Press, David Fox and Yang Yang; Engineering by Taka Yasuzawa and Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Two opaque corners of finance have joined forces: shadow banking and phantom debt. Put another way, private credit firms are backing Buy-Now-Pay-Later companies to finance their expansion into the US consumer market. On today’s Big Take podcast, guest host Stacey Vanek Smith joins Bloomberg reporters J.J. McCorvey and René Ismail to discuss what private credit’s involvement in BNPL means for everyday borrowers, why it’s raising concerns and whether the risks hiding in these spaces could spill over into the rest of the economy.  Read more: Private Credit Is Making Bets on Consumer Debt at a Precarious Time Hosted by Stacey Vanek Smith; Produced by David Fox; Reported by J.J. McCorvey and René Ismail; Edited by Naomi Shavin. Fact-checking by Julia Press and Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

For America’s 250th anniversary and our Weekend Listen, the Pulitzer Prize-winning historian Jill Lepore joins Mishal Husain to take her through her book on the US Constitution.We The People explores how the Constitution came about and, crucially, how there was an expectation that it would likely change over time. This is not, however, an episode entirely set in the past, because Jill Lepore is acutely alive to the pressures of the moment and of the contested sense of what America is or should be.Contact The Mishal Husain Show [email protected] Subscribe today on Apple Podcasts and Spotify. See omnystudio.com/listener for privacy information.

The federal programming leading up to the United States’ 250th anniversary this weekend has ranged from the genteel (essay contests for grade-schoolers and a national push for volunteerism) to the MAGA-coded (a “Freedom Truck” convoy and a UFC cage fight on the White House lawn). The events are the product of rival planning committees – one created last year by the Trump administration, another by Congress a decade ago. On today’s Big Take podcast, host Sarah Holder talks to Bloomberg Businessweek Senior Editor Laura Bliss about the funding battles and cronyism allegations that have dogged this year’s events – and how they echo earlier chapters of American history. Read more:  The Money and Influence Behind America’s Very MAGA 250th Birthday Party Why the Great American State Fair Looks So Empty  We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Reported by Laura Bliss; Edited by Jeffrey Grocott and Tracey Samuelson. Fact-checking by David Fox; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

In just a few years, peptides have grown from fringe drugs popular with fitness buffs and ‘looksmaxxers’ to a billion-dollar black market. Now, with the prospect of regulation on the horizon, healthcare players and investors are racing to cash in. On today’s Big Take podcast, Bloomberg reporters Amanda Mull and Madison Muller join host Sarah Holder to break down the peptide boom, the safety concerns surrounding it and how a friendly Trump administration could bring it into the mainstream. Read more: Peptides Fuel a Multibillion-Dollar Startup Race Hosted by Sarah Holder; Produced by Laura Newcombe, Victor Swezey; Reported by Amanda Mull, Madison Muller; Edited by Julia Weaver, Aaron Edwards. Fact-checking by Julia Press; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

In the 2026 elections, artificial intelligence is the backdrop for just about everything. The US and Anthropic reached a truce in recent days that lets the company roll out its powerful models to some users, the sort of on-the-fly decision-making that has candidates jockeying to shape how AI is regulated. Big AI companies are pouring money into 2026 state and federal races, dwarfing the cryptocurrency industry’s spending in 2024. And even as AI is fueling Americans’ anxiety about jobs and energy prices, it’s feeding them the ads and information that will shape their votes: According to one survey, 55% of US voters under the age of 45 are likely to use chatbots to learn about candidates and elections.  On today’s Big Take podcast, Bloomberg’s Michael Shepard, a senior editor focusing on AI, joins David Gura to discuss what the first AI election means for our current moment. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Rachael Lewis-Krisky; Reported by Michael Shepard; Edited by Jeffrey Grocott. Fact-checking by Victor Swezey, Julia Press and David Fox; Engineering by Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Thanks to the AI boom, stock markets in Taiwan and South Korea have seen historic rallies this year. But as retail investors pile in, often using borrowed money, concerns are growing over whether this momentum is sustainable. On today’s Big Take Asia podcast, guest host Rebecca Choong Wilkins speaks with Bloomberg’s Asian markets reporter Charlotte Yang and Bloomberg Opinion’s Shuli Ren about the risks of betting on AI and how potential fallout could ripple beyond the region. Read more: Taiwanese Go Deep Into Debt to Amp 100% Stock Rally  Play Micron, Hynix and Samsung ETFs at Your Peril  Hosted by Rebecca Choong Wilkins; Produced by Naomi Ng; Reported by Charlotte Yang, Shuli Ren, Chien-Hua Wan; Edited by Paddy Hirsch, Jiyeun Lee, Julia Weaver. Fact-checking by Victor Swezey; Engineering by Taka Yasuzawa. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

A divided Supreme Court has upheld the constitutional right to birthright citizenship, rejecting President Trump’s planned restrictions and invalidating a central plank of his immigration agenda. We have more on that story next from Bloomberg News Now, tracking the latest business headlines from around the world. See omnystudio.com/listener for privacy information.

In a 5-4 ruling, the Supreme Court blocked President Trump’s efforts to remove Federal Reserve Governor Lisa Cook for now, delivering the Fed a victory in the grueling fight over its independence. But the decision arrived alongside another ruling that allows the president to fire a top official at the Federal Trade Commission—a move widely seen as a boon to executive power over independent agencies. On today’s Big Take podcast, Bloomberg Fed Editor Amara Omeokwe and Senior Legal Reporter Zoe Tillman join Sarah Holder to unpack what these twin rulings mean for the Trump administration's push to assert power over long-independent government regulators, how the court singled out the Fed in its decision and what this means for the central bank and Lisa Cook’s future. Read more: Supreme Court Expands Trump’s Power to Fire Federal Bureaucrats We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Reported by Amara Omeokwe and Zoe Tillman; Edited by Jeffrey Grocott. Fact-checking by Laura Newcombe and Victor Swezey; Engineering by Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

In November, California will choose a new governor to replace Gavin Newsom, pitting Democratic candidate Xavier Becerra, a former US Secretary of Health and Human Services, US Congressman and state attorney general, against an unlikely Republican rival: Steve Hilton.Hilton was born in the UK and became a US citizen only five years ago. He had a career in center-right British politics, working as an adviser for former Conservative Prime Minister David Cameron. In 2012, Hilton moved to California, where he worked as a tech entrepreneur and as a host on right-leaning Fox News.Hilton, who wants to be the state’s first Republican governor since Arnold Schwarzenegger, tells Mishal Husain how he joined the party, discusses the US-Israel war with Iran, his attitude to big tech and what he misses about life in Britain. He also discusses what having Donald Trump’s endorsement means for him and his campaign. Contact The Mishal Husain Show [email protected] See omnystudio.com/listener for privacy information.

On July 1, 2025, the US effectively ended operations of the United States Agency for International Development, the global aid organization founded in 1961, cutting most staff and moving it into the US State Department. Samantha Power, who led the agency under President Biden until early 2025, joins David Gura on the Big Take podcast to look back at what was lost, internationally and at home. You can watch their conversation — on Ebola, Iran, Israel and Gaza — on Bloomberg.com. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by David Fox; Edited by Jeffrey Grocott and Aaron Edwards. Fact-checking by Laura Newcombe; Engineering by Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Nearly four months after the war in Iran began, US and Iranian negotiators are trying to turn their cease-fire into lasting peace. But critics of the latest memorandum of understanding say it mostly leaves President Donald Trump where he was before the war started, with many key issues unresolved. On today’s Big Take podcast, Bloomberg Opinion columnist Marc Champion on the latest negotiations between the two countries and what foreign powers – from the Gulf to China – will be watching for in a proposed settlement. Read more:  Trump’s Iran Truce Has the Hallmarks of Defeat Hosted by David Gura; Produced by Julia Press; Reported by Marc Champion; Edited by Julia Weaver and Jeffrey Grocott. Fact-checking by Victor Swezey and Laura Newcombe; Engineering by Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

For a growing number of older workers, retirement is no longer feeling so achievable—or appealing. But staying in the workforce or going back to work in your 60s and 70s comes with challenges, for workers and companies. On today’s Big Take podcast, Bloomberg’s Stacey Vanek Smith talks to the World Economic Forum’s Haleh Nazeri about the factors driving the rise in so-called ‘unretirement.’ And we hear from David Lloyd, a radio presenter who’s trying to give other Boomers a later-in-life career boost. Read more: When the Best Retirement Is No Retirement at All We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Stacey Vanek Smith; Produced by Julia Press; Reported by Stacey Vanek Smith; Edited by Aaron Edwards. Fact-checking by Victor Swezey; Engineering by Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

After more than a decade as a private company, Chinese social media app Xiaohongshu, known internationally as RedNote, is testing China’s mood for all things tech with its plan to list in Hong Kong. On today’s Big Take Asia podcast, host K. Oanh Ha speaks with Bloomberg Intelligence’s Robert Lea about why the time may be right for an IPO and what Xiaohongshu's debut says about the future of China’s tech industry. Read more: Xiaohongshu Is Said to Ready Hong Kong IPO Filing This Month See omnystudio.com/listener for privacy information.

British Prime Minister Keir Starmer announced his resignation Monday after less than two years in office. Starmer is the sixth Prime Minister to resign in the decade since the Brexit vote, raising major questions about where the country’s fractured political system goes from here. On today’s Big Take podcast, Bloomberg Executive Editor Edward Evans joins guest host Wendy Benjaminson from London to discuss the turmoil at 10 Downing Street. They explore what led to Starmer’s resignation, how soon the man poised to replace him, Labour Party frontrunner Andy Burnham, could call a general election and how the UK’s other political parties might take advantage of the power vacuum. Read more: Burnham Poised for Power in UK After Starmer Steps Aside We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Wendy Benjaminson; Produced by Julia Press; Reported by Edward Evans; Edited by Tracey Samuelson. Fact-checking by Victor Swezey and Laura Newcombe; Engineering by Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Longtime former Chair of the Federal Reserve of the United States Alan Greenspan had died at 100. We're bringing you some of our coverage from Bloomberg's News Now, covering the latest global business stories around the world. See omnystudio.com/listener for privacy information.

There’s a lot to unpack with AI right now — everything from its potential impacts on the labor market and society to more extreme questions about existential risk. Anthropic, which builds frontier models like Mythos, Fable, and Claude, is actively grappling with these issues, including whether governments should limit AI development. Just last week, the Trump administration forced Anthropic to block foreign access to its two leading models. In this episode, Odd Lots co-hosts speak with Jack Clark (co-founder and head of public benefit) and Peter McCrory (head economist) about how Anthropic approaches safety and economic risks. We talk about its preparations for recursive self-improvement, the engineers it's hiring now, and why Jack left Bloomberg to enter the early AI industry. Read more:Anthropic Lays Out Vision for How to Bolster AI Models’ SafetyMicrosoft Makes Big AI Inroads in China by Selling OpenAI Models Only Bloomberg - Business News, Stock Markets, Finance, Breaking & World News subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at  bloomberg.com/subscriptions/oddlots Subscribe to the Odd Lots NewsletterJoin the conversation: discord.gg/oddlots See omnystudio.com/listener for privacy information.

Everlane, the sustainability-focused basics clothing brand, is being acquired by Shein, the e-commerce giant known for fast fashion. To Bloomberg’s Amanda Mull, the sale reflected how far consumers are or aren’t willing to go to shop their values—and marked Everlane as the latest direct-to-consumer company to struggle. On today’s Big Take podcast, we hear from Mull, Everlane shoppers and the brand’s co-founder Michael Preysman, to understand where the company went wrong and what its sale could mean for the future of retail. Read more:  E-Commerce Giant Shein Buys Apparel Brand Everlane, Reports Say Quince’s Best-Kept Secret Isn’t Its Cheap Cashmere and Couches We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Laura Newcombe and Julia Press; Reported by Amanda Mull; Edited by Tracey Samuelson. Fact-checking by Victor Swezey; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

New Yorkers turned out by the thousands on Thursday to celebrate the Knicks’ first NBA Finals victory in 53 years. But Jalen Brunson and co. weren’t the only big winners. On today’s Big Take podcast, Jason Kelly – host of Bloomberg’s The Deal With Alex Rodriguez and Jason Kelly – and business of sports reporter Randall Williams tell Sarah Holder about the business side of the most-watched NBA finals since 1998, and how the series bolstered the fortunes of everyone from merch sellers and New York bars to, of course, the NBA itself. Read more: NY Knicks Fans Pay $950 to Hold Spots at Free Parade We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky with assistance from Victor Swezey; Reported by Jason Kelly and Randall Williams; Edited by Jeffrey Grocott. Fact-checking by Laura Newcombe and Victor Swezey; Engineering by Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The US Federal Reserve left interest rates unchanged in their first meeting under new Chairman Kevin Warsh today. The policy makers were split on whether they expect to raise rates this year, and Warsh himself declined to submit a forecast. Warsh also held his first, highly anticipated press conference. Bloomberg’s Enda Curran was there and joins host David Gura to talk through big changes at the US Federal Reserve. Read more: The Fed’s New Dot Plot After Its June Policy Meeting We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Julia Press and Rachael Lewis-Krisky; Reported by Enda Curran; Edited by Jeffrey Grocott. Fact-checking by Laura Newcombe and Victor Swezey; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

An interim deal to reopen the Strait of Hormuz offers relief, but Asia’s economic woes are far from over. Beyond the chokepoint, the conflict has forced long-lasting shifts in Asia’s food and energy flows. On today’s Big Take Asia podcast, Oanh Ha joins Odd Lots co-hosts Tracy Alloway and Joe Weisenthal to discuss why Asia is reeling from the conflict and what the “new normal” looks like for global supply chains. Hosted by Oanh Ha; Produced by Yang Yang; Reported by Tracy Alloway, Joe Weisenthal; Edited by Patrick Hirsch, Julia Weaver. Fact-checking by Laura Newcombe; Engineering by Taka Yasuzawa. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

After nearly four months of fighting, the US and Iran have declared a memorandum of understanding aimed at halting hostilities between the two sides and reopening the Strait of Hormuz. Oil fell and stocks rose on the announcement that the conflict could soon be over, but a lack of details and ongoing fighting between Israel and Iran’s proxies in Lebanon have left many wondering if this is just a temporary reprieve. On today’s Big Take podcast, Sarah Holder and Bloomberg National Security Editor Nick Wadhams look at what each side wants in a deal, how Israel fits into the equation and what to watch for ahead of the formal signing on June 19 in Switzerland. Read more: Netanyahu Pays the Political Price for Iran Gambit With Trump We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Reported by Nick Wadhams; Edited by Jeffrey Grocott. Fact-checking by Laura Newcombe, Julia Press and Victor Swezey; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Almost a century after the Wall Street crash of 1929, Andrew Ross Sorkin says he believes some of its most dangerous ingredients are reappearing. Joining Stephanie Flanders on Trumponomics, the financial journalist and author of 1929: Inside the Greatest Crash in Wall Street History argues that today’s market is filled with “eerie parallels” to the late 1920s. These include a transformative new technology, a flood of retail investors and a growing willingness to loosen the rules. See omnystudio.com/listener for privacy information.

SpaceX went public today, with the largest IPO in history. Following months of buildup, shares opened at $150 and were trading at $161.11 at market close. On today’s Big Take podcast, host David Gura sits down with Bloomberg Tech’s Ed Ludlow to discuss the record-breaking deal and what it means for Elon Musk, everyday investors and other companies on the brink of going public. This is a developing story. We are live blogging at Bloomberg.com with the latest from across the globe. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Julia Press; Reported by Ed Ludlow; Edited by Paddy Hirsch and Jeffrey Grocott. Fact-checking by Rachael Lewis-Krisky; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The 2026 World Cup kicks off today in Mexico City. It’ll be the largest in FIFA’s history, spanning three host countries and 48 competing teams and is expected to generate between $11 and $13 billion. But the tournament’s expansion comes at the expense of fans navigating a new dynamic pricing model and cities shouldering overhead costs. On today’s Big Take, host David Gura, Bloomberg’s Vanessa Perdomo and economist Andrew Zimbalist track who stands to profit the most from the people’s game. Read more: The Hidden Cost of the Most Expensive World Cup Ever Listen more: The "Americanization" of the World Cup - The Deal with Alex Rodriguez and Jason Kelly We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by David Fox with help from Rachael Lewis-Krisky and Victor Swezey; Reported by Vanessa Perdomo; Edited by Aaron Edwards. Fact-checking by Laura Newcombe and Rachael Lewis-Krisky; Engineering by Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Weddings are famously expensive. But with consumer prices on the rise and inflation accelerating at its fastest pace in three years last month, 2026’s newlyweds face exceptionally high prices. On today’s Big Take podcast, host Sarah Holder and Bloomberg’s Josyana Joshua and Dina Katgara unpack the $100 billion wedding economy: how much nuptials could set you back, why discretionary spending on weddings has remained stable on either end of the K-shaped economy and why witches—yes, witches—are showing up at the altar. Read more: Brides Are Turning to Etsy Witches for Wedding Weather Spells We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky and Laura Newcombe; Reported by Josyana Joshua and Dina Katgara; Edited by Tracey Samuelson. Fact-checking by Julia Press and David Fox; Engineering by Alex Seguira. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Offshore trading has long given Chinese investors access to global markets — often through legal gray areas. Now, Beijing is stepping in with its biggest crackdown in decades. On today’s Big Take Asia Podcast, host K. Oanh Ha speaks with Bloomberg’s Lulu Chen about the sweeping restrictions and why Beijing is tightening controls over money leaving the country. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Read more: China Targets Offshore Billions in Biggest Crackdown in Decades Hosted by K. Oanh Ha; Produced by Naomi Ng, Yang Yang; Reported by Lulu Chen; Edited by Paddy Hirsch. Fact-checking by Rachael Lewis-Krisky, Laura Newcombe; Engineering by Taka Yasuzawa. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The field for 2026 US midterm elections is coming into focus, with key primaries this week in Maine and South Carolina, as well as bellwether state elections in California. On today’s Big Take podcast, hosts Sarah Holder and David Gura check in with political correspondent Nancy Cook and California reporter Eliyahu Kamisher about what this week’s results — and the next five months — mean for midterm elections with the potential to profoundly shape US politics. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder and David Gura; Produced by Julia Press; Reported by Nancy Cook and Eliyahu Kamisher; Edited by Jeffrey Grocott. Fact-checking by Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Jill Ellis has seen soccer from every angle: as an elite player, as the two-time World Cup champion coach of the U.S. Women’s National Team and as an NWSL team president. She is bringing this expertise to FIFA as the organization’s first Chief Football Officer. As one of the chief architects of the global game, she is the ultimate World Cup insider. In this episode of The Deal, Jill tells Jason and Alex what is worrying and exciting her leading up to the kick off of the 2026 World Cup on June 11th (yes, we talk about ticket prices). She shares some facts and figures around what FIFA is expecting in terms of viewership and revenue. Jill also has her eye toward next summer’s Women’s World Cup in Brazil, telling us about a monumental deal with Netflix and why she is anticipating unprecedented interest in the event. You can also watch this interview on YouTube. See omnystudio.com/listener for privacy information.

By many metrics, Meta is falling behind in the AI race. So CEO Mark Zuckerberg is building one of the largest data centers in the world — a facility the size of about 3,000 football fields in one of the poorest regions in the US. On today’s Big Take podcast, host Sarah Holder sits down with Bloomberg reporter Riley Griffin, who traveled to Richland Parish, Louisiana, to hear from residents about the risks and opportunities they see as Meta comes to town. Will they reap the benefits? Or trade in one uncertain economy for another? Read more: Meta Goes Big on the Bayou We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Julia Press; Reported by Riley Griffin; Edited by Aaron Edwards. Fact-checking by Laura Newcombe and Rachael Lewis-Krisky; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

President Rodrigo Paz ended 20 years of socialist rule in Bolivia with promises of unity, democracy and prosperity — and plans to tap the country’s mineral wealth. But when host David Gura went to Bolivia to interview the president, he found a harsher reality: demonstrators blockading La Paz’s streets to demand the president’s resignation. On today’s Big Take podcast, Gura shows how centuries-old distrust of government is complicating President Paz’s efforts to persuade Bolivians – and investors – that this time is different. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by David Fox; Reported by David Gura and Sergio Mendoza; Edited by Jeffrey Grocott and Tracey Samuelson. Fact-checking by Rachael Lewis-Krisky and Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. Special thanks to Simon Hampton, Javier Castaneda, Luke Mailander and Adonai Sierra. See omnystudio.com/listener for privacy information.

For more than a decade, the towns north of Dallas, Texas – places like Frisco, Prosper and Celina – have seen an unprecedented housing boom, thanks in part to Indian workers drawn by skilled tech jobs and employers who sponsored their H-1B visas. But in the past year, the market for these houses has fallen and some of Texas’ biggest boomtowns have gone bust. On today’s Big Take podcast, US housing reporter Prashant Gopal and host Sarah Holder unpack the forces underpinning a growing real estate crisis in Dallas-Forth Worth. They examine how changes to the H-1B visa program forced some residents to rethink their futures and what the dramatic pull back could mean for some of the newest suburbs. This episode contains mention of suicide. If you or someone you know is having thoughts of suicide or self-harm, a global list of help lines is available at blog.opencounseling.com/suicide-hotlines/ We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Reported by Prashant Gopal and Tanaz Meghjani; Edited by Jeffrey Grocott. Fact-checking by Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Samsung recently made headlines when it narrowly averted a strike by offering eye-popping bonuses to its chip workers. But the move has seemingly backfired—sparking deep resentment in other corners of the company and fueling a wider debate over wage equity in South Korea. On today’s Big Take Asia podcast, host K. Oanh Ha and Bloomberg’s Yoolim Lee break down how the wage dispute took hold in South Korea and discuss its broader global implications as other tech giants weigh how best to share the spoils of their AI windfalls. Read more: Huge AI Bonuses in South Korea Spark Fight Over Sharing Tech Wealth Hosted by Oanh Ha; Produced by Yang Yang; Reported by Yoolim Lee; Edited by Patrick Hirsch, Edwin Chan. Fact-checking by Naomi Ng; Engineering by Taka Yasuzawa Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The US Consumer Financial Protection Bureau is tasked with enforcing consumer finance laws and holding some of the country’s most powerful banks, lenders and companies to account. But a new Bloomberg investigation found that over the past 15 months, much of that work has come to a halt. On today’s Big Take podcast, Bloomberg reporters Noah Buhayar and Coulter Jones join host Sarah Holder to talk about how acting director Russell Vought gutted the CFPB, and how the agency has refused to enforce settlements and pursue lawsuits — in some cases letting big businesses pocket millions they’d already agreed to pay consumers. Hosted by Sarah Holder; Produced by David Fox; Reported by Noah Buhayar, Coulter Jones, Tedd Mann; Edited by Aaron Edwards, Nicole Beemsterboer. Fact-checking by Laura Newcombe; Engineering by Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Indonesia’s free lunch program is a massive operation, feeding tens of millions of people every day across a vast archipelago. On this episode of the Big Take Asia podcast, host Rebecca Choong Wilkins talks with Bloomberg’s Rosalind Mathieson about the challenges facing President Prabowo’s flagship program and whether it can survive the strain. Read more: Handing Out $15 Billion of Free Meals Strains Indonesia's Budget Hosted by Rebecca Choong Wilkins; Produced by Naomi Ng; Reported by Rosalind Mathieson, Eko Listiyorini; Edited by Paddy Hirsch. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver; Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The mayor of an affluent suburb of Los Angeles pleaded guilty to acting as an agent of the Chinese government last month. And while cable networks across the US had a field day with the story, Bloomberg’s Drake Bennett and Jordan Robertson have been reporting on cases like this one for years. The two co-hosted the podcast series, The Sixth Bureau, which detailed the inner workings of one of the most powerful and mysterious spy agencies in the world, China’s Ministry of State Security.On today’s Big Take podcast, Drake and Jordan walk host David Gura through what we know about Wang’s case and what it tells us about the extent of Chinese propaganda and espionage in the United States amid ongoing tensions between the world’s two superpowers. Further listening: http://swap.fm/l/9guIFZxhu17KqTWLxBFh  Read more: https://www.bloomberg.com/features/the-sixth-bureau/ We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Julia Press and Victor Yvellez; Reported by Drake Bennett and Jordan Robertson; Edited by Nicole Beemsterboer Fact-checking by Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Free speech lawyers are watching in real time as the US government escalates efforts to unmask anonymous critics of ICE. On today’s Big Take podcast, Justice Department reporter Jimmy Jenkins and legal reporter Zoe Tillman join host David Gura to break down their exclusive reporting on how the DOJ is deploying an old legal tool in a novel way. We’ll hear from an attorney defending one of the users and explore what the new strategy means for social media platforms, online anonymity and First Amendment freedoms.  Read more: The DOJ Wants to Know Who on Reddit and X Is Criticizing ICE's Tactics We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Julia Press; Reported by Jimmy Jenkins and Zoe Tillman; Edited by Jeffrey Grocott Fact-checking by Rachael Lewis-Krisky and Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The US Justice Department has announced it would establish a $1.776 billion legal fund to compensate people who claim they’ve been targeted unfairly by the federal government. The plan has been met with swift bipartisan backlash, with some lawmakers calling it a “slush fund” that could line the pockets of Trump loyalists and Jan. 6 rioters with taxpayer dollars. On today’s Big Take podcast, host Sarah Holder joins Bloomberg reporters Chris Strohm and Erik Wasson to break down the mechanics of the fund, the Trump administration’s rationale for using it and the mounting questions around its oversight and legal grounds. Read more: Jan. 6 Rioters Who Beat Police May Get Payouts, Blanche Says Trump’s $1.8 Billion Settlement Fund Hits Senate GOP Backlash Why Critics Call Trump’s $1.8B Anti-Weaponization Fund an Abuse of Power We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by David Fox; Reported by Chris Strohm, Erik Wasson; Edited by Aaron Edwards. Fact-checking by Laura Newcombe, Rachael Lewis-Krisky; Engineering by Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The Trump administration is ramping up pressure on Cuba’s regime. Just this month, it indicted former President Raúl Castro, announced the deployment of additional military assets to the region and released a video message — featuring Secretary of State Marco Rubio — blaming Cuba’s economic troubles on its government. The push comes less than five months after the US captured one of Havana’s staunchest allies, Venezuela’s Nicolás Maduro, which choked Cuba’s oil supplies and plunged the island into darkness. On today’s Big Take podcast, host David Gura and Bloomberg State Department reporter Eric Martin discuss what’s next for Cuba’s regime, how President Trump’s Venezuela playbook is — and isn’t — playing out in Havana and the challenges both nations face as they adapt to Trump’s vision for the Western Hemisphere. Read more: Can Cuba’s Regime Survive Rising US Pressure?  We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Rachael Lewis-Krisky; Reported by Eric Martin; Edited by Jeffrey Grocott. Fact-checking by Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The Ebola outbreak in eastern Democratic Republic of Congo may have been spreading for months, according to the World Health Organization. On this week’s episode of the Next Africa Podcast, Jennifer Zabasajja is joined by healthcare reporter Janice Kew and Congo Country Director for the Danish Refugee Council, Caitlin Brady. They discuss the impact of aid cuts on the outbreak and how serious the crisis could get. For more stories from the region, sign up for the Next Africa newsletter. See omnystudio.com/listener for privacy information.

Beyond this month's talks between Chinese President Xi Jinping and US President Donald Trump, there’s an epic tale that has been unfolding for decades. It’s a battle to be the world’s number one power and a much bigger story than the latest meeting of these two men.  Kishore Mahbubani is a former Singaporean diplomat who served as president of the United Nations Security Council. For two decades, he has argued that the West fundamentally misunderstands the rise of China and its challenge to American supremacy.Mahbubani, who eventually turned to academia, now specializes in governance and public policy. In this conversation with Mishal Husain, he traces the story behind the Xi-Trump talks, the handshakes and the social media posts–and what may lie ahead.Mahbubani also reveals how his own successes were made possible by Singapore’s remarkable growth. See omnystudio.com/listener for privacy information.

The global bond market buckled over the past week. Yields on 30-year US Treasuries hit their highest level in almost 20 years, while long-term debt yields in the UK and Japan reached multi-decade highs. It’s a signaling effect, Bloomberg’s Enda Curran says, that investors around the world are increasingly convinced higher inflation is here to stay. On today’s Big Take podcast, Curran and host David Gura discuss how supply shocks from the Iran war feed into longer-term inflation concerns, how AI might provide a way out for the global economy — and what this rout in the bond market means for the Federal Reserve, its new chair and the rest of us. Listen more: The Great Bond Car Wreck — in Slow Motion Read more: $50 Trillion Safe-Haven Debt Market Upended by Iran War Inflation We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by David Fox; Reported by Enda Curran, Mark Schroers, Ye Xie and Jorgelina Do Rosario; Edited by Jeffrey Grocott. Fact-checking by Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Graduation is here — but the jobs aren’t. On today’s Big Take podcast, we check in with recent graduates facing a brutal hiring landscape where 42% are underemployed. We look at what’s driving today’s low-hire, low-quit market, how the AI boom could hamper the job search and what happens when top-tier students finish school without a clear path forward. Read more:  A Dozen Young Job Hunters on What It Takes to Get Hired Why More College Graduates Are Stuck in Jobs That Don’t Require Degrees Hosted by Sarah Holder; Produced by Julia Press; Reported by Marin Cogan; Edited by Jeffrey Grocott. Fact-checking by Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

 For months, Democrats and Republicans have been locked in a fierce battle over the way districts are drawn across the US. As both parties try to gain an edge ahead of midterms in November, efforts to redistrict could reshape Congress in the final two years of Trump’s second term — and regional economies for decades to come. On today’s Big Take podcast, guest host Stacey Vanek Smith hears from Virginia Democratic Representative Don Beyer, economist Julianne Malveaux and Bloomberg’s Greg Giroux about how the race to redistrict America could affect everything from representation to economics. Read more: What the Virginia Court Ruling Means for Democrats We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Stacey Vanek Smith; Produced by David Fox with help from Rachael Lewis-Krisky; Reported by Greg Giroux; Edited by Aaron Edwards and Tracey Samuelson. Fact-checking by Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

SoftBank founder Masayoshi Son has made a $60 billion bet on OpenAI and its CEO Sam Altman – a commitment that has some insiders worried. On today’s Big Take Asia Podcast, host K. Oanh Ha speaks with Bloomberg’s Min-Jeong Lee about how Son became captivated by Altman and what’s at stake for his reputation – and the company – as the AI race intensifies. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Read more: SoftBank Founder’s Starstruck Bet on OpenAI Raises Concern Watch, from Originals: The Troubled Saga of Masa Son's $100 Billion Fund See omnystudio.com/listener for privacy information.

Trade was one of the most contentious issues heading into the Beijing summit between Presidents Trump and Xi. But while the summit generated “good vibes” between the two, it ended with few clear directives, especially regarding trade and tariffs. On today’s Big Take podcast, Brendan Murray, who leads Bloomberg’s trade coverage, sits down with host Sarah Holder to discuss the trade takeaways from last week’s Beijing summit. Can China’s constructive strategic stability plan, or a proposed US-China trade council, calm the waters? And where does the relationship stand with the prospect of more deals—and new tariffs—on the horizon? Read more: Trump-Xi ‘Placeholder’ Summit Leaves Room for Tensions to Reignite Hosted by Sarah Holder; Produced by Julia Press; Reported by Brendan Murray; Edited by Jeffrey Grocott. Fact-checking by Rachael Lewis-Krisky and Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Amazon is everywhere, from your doorstep to outer space. So, what is the current state of the Everything Store? This week on Everybody's Business, hosts Max Chafkin and Stacey Vanek Smith look at the company that is more utility than retailer with Bloomberg Businessweek editor-in-chief Brad Stone. Plus, have you wondered why the stock market has been doing so well even though lots of things don't seem to be going great at home or abroad? Author and economic commentator Kyla Scanlon explains why the record highs keep coming even as oil prices double and the job market is at a standstill. And: a special guest gives us an underrated story that makes the case for booing. See omnystudio.com/listener for privacy information.

Tensions between the US and China have deepened since the last time a US president traveled to Beijing for a summit, in 2017. President Trump’s return to China, in a swirl of dinners and festivities, generated positive optics for host and guest alike, but brought less apparent progress on some of the biggest bilateral sticking points, from tariffs and trade to US arms sales to Taiwan. On today’s Big Take podcast, Big Take Asia host K. Oanh Ha talks to Co-head for Asia John Liu and White House Correspondent Jeff Mason, who were both on the ground in Beijing, about the summit’s deals, sticking points and unfinished business. Read more:  Bloomberg’s Trump-Xi Summit Page Winners and Losers From Trump and Xi’s Beijing Summit Talks We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by K. Oanh Ha; Produced by Yang Yang and Rachael Lewis-Krisky; Reported by Jeff Mason and John Liu; Edited by Jeffrey Grocott. Fact-checking by Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The oldest Gen Alphas are still in high school, but some of the early reviews have been scathing. Unruly. Nihilistic. Bad at reading. Yet when Bloomberg Businessweek’s Stacey Vanek Smith dug into the research, she emerged with a more optimistic view on the most online generation yet. Tech savvy. Globally minded. Also, preternaturally good at skincare. On today’s Big Take podcast, Smith tells host David Gura about the cohort that accounts for $100 billion a year in direct spending power in the US alone – and what it might look like when it begins to enter the workforce. Read more: Gen Alpha Can’t Be Ignored We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by David Fox; Reported by Stacey Vanek Smith; Edited by Jeffrey Grocott. Fact-checking by Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

This year has seen an uptick in falsified videos and other online disinformation with a common theme: advancing Kremlin interests. On today’s Big Take podcast, Bloomberg investigative reporter Stephanie Baker tells Sarah Holder how she identified nearly 200 social media posts and videos that bear the hallmarks of a Russian influence operation that researchers call Storm-1516. Baker, who has written extensively about Russia and is the author of Punishing Putin, explains why so few of these posts are factchecked in real time — and what that lack of oversight means for the US as it prepares for this year’s midterms. Read more: The Most Potent Weapon in Russia’s Disinformation War We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by David Fox; Reported by Stephanie Baker and Priyanjana Bengani ; Edited by Jeffrey Grocott. Fact-checking by Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Despite India facing economic headwinds, Prime Minister Narendra Modi’s party defied expectations with a stunning state election sweep — capped by a historic win in opposition stronghold West Bengal. On today’s Big Take Asia Podcast, host K. Oanh Ha speaks to Bloomberg’s Menaka Doshi about how the BJP secured a shock victory and what an emboldened Modi might mean for India and the world. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Read more: Resurgent Modi Paves Way to Keep Power in India Well Beyond 2030 Hosted by K. Oanh Ha; Produced by Naomi Ng, Yang Yang; Reported by Menaka Doshi; Edited by Paddy Hirsch. Fact-checking by Rachael Lewis-Krisky, Yang Yang; Engineering by Taka Yasuzawa. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver; Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

After eight years as chair of the Federal Reserve, Jerome Powell’s term concludes this week. On today’s Big Take podcast, host David Gura sits down with Bloomberg Fed correspondents Catarina Saraiva and Amara Omeokwe to look back at Powell’s successes, missteps and legacy — and what shape the central bank could take in the future. Read more: Fed Chair Jerome Powell’s Legacy Is Defending the Bank Against Trump We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Julia Press and Rachael Lewis-Krisky; Reported by Amara Omeokwe and Catarina Saraiva; Edited by Paddy Hirsch. Fact-checking by Rachael Lewis-Krisky; Engineering by Alex Suguira. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

As a high-stakes Trump–Xi summit looms, tensions over the Iran war and defiance of US sanctions threaten to derail what could be one of the year’s most consequential meetings. On Trumponomics, Bloomberg's Stephanie Flanders is joined by Jennifer Welch, chief geoeconomics analyst for Bloomberg Economics and Bloomberg News executive editor Dan Ten Kate to unpack whether the talks will happen—and what’s really at stake for the global economy if they do. See omnystudio.com/listener for privacy information.

Supporters of the Make America Healthy Again movement helped put President Trump in office for a second term. But just months ahead of the US midterm elections, key voices in the coalition say they feel betrayed. On today’s Big Take podcast, guest host Tim Stenovec and Bloomberg Businessweek’s Deena Shanker track MAHA’s growing frustrations with the White House, from the fallout over Trump’s decision to pull Casey Means as nominee for surgeon general to a contentious battle over weed killer — and what it could mean for Trump’s record-low approval ratings. Read more: Outrage Over Pesticides Is Alienating Some Trump Voters Further listening: Welch’s Fruit Snacks Get a MAHA-Friendly Makeover We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Tim Stenovec; Produced by David Fox; Reported by Deena Shanker; Edited by Aaron Edwards and Nicole Beemsterboer. Fact-checking by Naomi Ng and Yang Yang; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The Federal Reserve in the United States has struggled to return inflation to its 2% target while navigating criticism from President Trump and scrutiny from the Department of Justice. On today’s Big Take podcast, host David Gura and Bloomberg’s Maria Eloisa Capurro discuss her interview with Boston Fed President Susan Collins. They explore inflation, the economic fallout of the conflict in Iran, and how the US central bank might evolve under Kevin Warsh’s leadership. Read more: Fed’s Collins Agreed With FOMC Dissenters Over Statement  We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Rachael Lewis-Krisky; Reported by Maria Eloisa Capurro; Edited by Julia Weaver. Fact-checking by Laura Newcombe; Engineering by Alex Sugiura. See omnystudio.com/listener for privacy information.

Can NASA put astronauts on the moon in 2028? Why does the US need a lunar base? NASA Administrator Jared Isaacman joins guest host Tim Stenovec on today’s Big Take podcast episode to discuss the new space race with China, how NASA can compete for talent with SpaceX and Blue Origin – and why he doesn’t think we’re alone in the universe.  Read more: www.bloomberg.com/space We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Tim Stenovec; Produced by Julia Press; Edited by Jeffrey Grocott. Fact-checking by Rachael Lewis-Krisky Lewis-Krisky and Eleanor Harrison-Dengate; Engineering by Alex Sugiura  Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

China’s decision to block Meta’s $2 billion acquisition of AI startup Manus stunned the global AI industry. On today’s Big Take Asia podcast, host K. Oanh Ha speaks with Bloomberg’s Newley Purnell and Lulu Chen about how the deal crumbled and what it signals for Chinese startups trying to go global. Read more: China’s Meta Backlash Renders Manus Model ‘Officially Dead’ Hosted by K. Oanh Ha; Produced by Yang Yang and Naomi Ng; Reported by Newley Purnell and Lulu Chen; Edited by Paddy Hirsch. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

For global airlines, this year was supposed to be a big one. The industry projected record profits — backed by more than 5 billion passengers — and a busy summer travel season ahead. But then came the war in Iran, the closure of the Strait of Hormuz and major disruptions to global jet fuel supplies. On today’s Big Take podcast, Bloomberg’s Global Aviation Editorial Leader Benedikt Kammel joins Sarah Holder to discuss the growing jet fuel crunch: how airlines are scrambling to absorb billions in unexpected expenses, which markets and routes are most affected by the squeeze and how disruptions stemming from the war could reshape the industry (and your summer travel plans). We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Julia Press; Reported by Benedikt Kammel; Edited by Tracey Samuelson. Fact-checking by Editorial team; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

For more than 30 years, the Indian-born writer Amitav Ghosh has built a global following with novels that draw on deep historical research.  But his latest offering, Ghost-Eye, is more esoteric. The plot moves back and forth between India and the US, using past lives to explore the ties between the personal and the political. The plot centers on a psychiatrist treating a 3-year-old who shocks her family by insisting she remembers a past life in a fishing community. In this conversation with Mishal Husain, Ghosh explains why he’s finding it harder to write nowadays, how the memories of his childhood came flooding back during the Covid pandemic, why he sees capitalism as an obstacle to protecting the environment and thinks India has lost its way diplomatically.  Read this interview with Mishal’s notes on Bloomberg Weekend: www.bloomberg.com/latest/weekend-interviewWe have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. See omnystudio.com/listener for privacy information.

Game apps like High 5 Casino and Monopoly GO! are wildly popular. Players pay up for perks and the mobile game industry makes money – a lot of money. But scrutiny on these kinds of games and what some players call addictive, gambling-like qualities could challenge the way they do business. On today’s Big Take podcast, host Sarah Holder and Bloomberg reporter Vernon Silver go inside the world of so-called “social casinos.” Who’s profiting the most from them? And could a slate of ongoing lawsuits change their business model? Read more: The $11 Billion Casino-Style Economy Built on Players Who Can Never Cash Out We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by David Fox; Reported by Vernon Silver and Peter Robison; Edited by Aaron Edwards. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The US government is required to pay back $166 billion in revenue it collected as part of sweeping global tariffs struck down by the Supreme Court earlier this year. On today’s Big Take podcast, host David Gura talks with Bloomberg economics reporter Laura Curtis and a trade expert in the field about the logistics of that payout, whether any of that money will reach consumers and how political pressure might push some companies to skip a refund altogether. Read more:  Oaktree Capital Accuses BJ’s of Breaching Tariff Refund Deal  In Tariff Refund Process, First Payment Set to Go Out May 11  We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Rachael Lewis-Krisky; Reported by Laura Curtis; Edited by Jeffrey Grocott and Tracey Samuelson. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Amid the nervousness about whether AI will replace human workers, one company has been aggressively seeking professionals. The San Francisco startup, Mercor, isn’t hiring experts to perform their jobs; it’s paying them an hourly rate to teach their daily routines to AI agents.  On today’s Big Take podcast, reporter Tom Foster takes host Sarah Holder into the world of Mercor — why professionals are signing up to train the AI that could take over parts of their jobs and how the company’s founders want to remake white-collar work. Read more:  The $10 Billion Startup Training AI to Replace the White-Collar Workforce Amazon to Sell OpenAI Tech After Microsoft Cedes Exclusivity We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Julia Press; Reported by Tom Foster; Edited by Jeffrey Grocott. Fact-checking by Eleanor Harrison-Dengate and Rachael Lewis-Krisky; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

As global attention is focused on war in the Middle East, North Korea has been accelerating its nuclear and missile program — testing new weapons and producing more warheads. On today’s Big Take Asia podcast, host K. Oanh Ha speaks with Bloomberg’s Jon Herskovitz on Kim Jong Un’s aggressive nuclear buildup and the strain that puts on US defenses. Read more: North Korea’s Nuclear Arsenal is Outgrowing the US Missile Defenses We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by K. Oanh Ha; Produced by Naomi Ng; Reported by Jon Herskovitz, Soo-Hyang Choi; Edited by Paddy Hirsch. Fact-checking by Yang Yang; Engineering by Taka Yasuzawa. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Global markets have been remarkably resilient amid major geopolitical and economic disruptions, from the Iran war to US tariffs, as investors find cause for optimism in strong earnings and AI. On today’s Big Take podcast, Sarah Holder talks with Asia equities reporter Winnie Hsu, and Ruth Carson, chief FX/Rates correspondent in Asia, about what has kept markets strong — and what could shake them. Read more: Five Reasons Global Markets Are Holding Up Despite War in Iran We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by David Fox; Reported by Winnie Hsu and Ruth Carson; Edited by Tracey Samuelson and Jeffrey Grocott. Fact-checking by Eleanor Harrison-Dengate; Engineering by Katie McMurran. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

On today’s Big Take podcast, Bloomberg’s Apple guru Mark Gurman joins David Gura to reflect on Tim Cook’s wins and losses as CEO of Apple and what it will take for John Ternus to successfully usher in a new era for the tech behemoth. Read more: Apple CEO John Ternus Confronts Test of Retaining Top Talent  Tim Cook Regrets Maps Flub, Sees Apple Watch as His Proudest Work  We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Rachael Lewis-Krisky; Reported by Mark Gurman; Edited by Tracey Samuelson. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Building powerful AI tools is the goal of companies like Anthropic. But after realizing how powerful its latest update was, Anthropic moved to keep it from the public and turn it into a cybersecurity stress test. On today’s Big Take podcast, Bloomberg cybersecurity reporter Margi Murphy walks host Sarah Holder through the story of how Anthropic discovered the risks of its Mythos tech and what they could mean for banks, businesses and the government. Read more:  How Anthropic Learned Mythos Was Too Dangerous for the Wild Anthropic’s Mythos Model Is Being Accessed by Unauthorized Users We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Julia Press; Reported by Margi Murphy; Edited by Jeffrey Grocott. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

In a nomination hearing before the Senate Banking Committee, Fed Chair nominee Kevin Warsh fielded an array of questions about his personal finances and economic policy views. There was even a reference to Seinfeld. But one topic loomed largest: the independence of the Fed. On today’s Big Take podcast, host David Gura and Bloomberg’s Michael McKee go inside Tuesday’s hearing, where Warsh vowed he wouldn’t be a “sock puppet” for President Trump and laid out some of his vision for the Fed’s future if confirmed. Read more: Warsh Pledges Independence But Dodges Questions on Rates Further listening: How Kevin Warsh Could Shape the Fed We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by David Fox; Reported by Michael McKee; Edited by Aaron Edwards. Fact-checking by Eleanor Harrison-Dengate, Julia Press; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

India wants to become a manufacturing powerhouse to rival China — but its reliance on the Chinese supply chain for things like batteries and semiconductors makes for a complex and exceedingly difficult puzzle to untangle. On today's Big Take Asia Podcast, host Oanh Ha and Bloomberg’s Alisha Sachdev on how corporate India is struggling to navigate this unique geopolitical landscape. Read more: China’s Control Over Tech Is Threatening India’s Manufacturing Dreams Further listening: Asia Is Bearing the Brunt of the Iran War Energy Crisis We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Oanh Ha; Produced by Yang Yang; Reported by Alisha Sachdev; Edited by Patrick Hirsch; Fact-checking by Eleanor Harrison-Dengate; Engineering by Taka Yasuzawa and Alex Sugiura Deputy Executive Producer: Julia Weaver Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

President Trump said Monday the US will not be rushed into a “bad deal" with Iran. But he also said he was unlikely to extend the ceasefire that expires Wednesday. Meanwhile, the two sides seemed to disagree on whether they’d resume negotiations to end the conflict this week.  On today’s Big Take, host Stacey Vanek Smith and Bloomberg White House Correspondent Kate Sullivan break down what we know about a potential second round of negotiations between the US and Iran, the sticking points driving the latest escalation and where the White House could go from here.  Read more: Trump Aims to Seal Iran Deal, Says Truce Extension Unlikely We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Stacey Vanek Smith; Produced by Rachael Lewis-Krisky and David Fox; Reported by Kate Sullivan; Edited by Tracey Samuelson. Fact-checking by Julia Press and David Fox; Engineering by Katie McMurran. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Three years ago, Bob Lee, a tech executive famous for creating Cash App, was found stabbed in San Francisco. His killing set off a wave of online fury. Reporter Shawn Wen takes us back to the turbulent days before his killer was arrested, when misinformation and rumors ran rampant. Several tech industry leaders decried violent crime in San Francisco, including David Sacks, who “bet dollars to dimes” that Lee was stabbed by “a psychotic homeless person,” and Elon Musk, who called the city “horrific.” See omnystudio.com/listener for privacy information.

The Strait of Hormuz is now open. In a social media post Friday morning, Iran’s Foreign Minister wrote that Iran will be letting ships through the vital waterway for the duration of a 10-day ceasefire in Lebanon. Oil prices fell, and President Trump celebrated. But Iran’s announcement came with a big caveat: Travel must use a “coordinated route,” specified by Iran. On today’s Big Take, host David Gura and Bloomberg’s Middle East breaking news editor, Patrick Sykes, talk through Iran’s dramatic reversal, how open the Strait of Hormuz really is — and how long the latest ceasefire might hold. This is a developing story. We are live blogging at Bloomberg.com with the latest from across the globe. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Rachael Lewis-Krisky and David Fox; Reported by Patrick Sykes; Edited by Tracey Samuelson. Fact-checking by Eleanor Harrison-Dengate and Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The atmosphere was grim at this week’s IMF and World Bank spring meetings, as global central bankers grappled with economic shocks from the war in Iran, AI and mounting debt. On today’s Big Take podcast, host David Gura sits down with Stephanie Flanders — Bloomberg’s head of Economics and Politics and host of Trumponomics — and senior economic writer Shawn Donnan to discuss the IMF’s revised global growth forecast and whether governments are equipped to contain the next economic crisis. Read more: The World’s Anti-Recession Guardrails Are Weaker Than Ever We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by David Fox; Reported by Stephanie Flanders and Shawn Donnan; Edited by Jeffrey Grocott. Fact-checking by Eleanor Harrison-Dengate; Engineering by Katie McMurran Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

President Trump’s One Big Beautiful Bill Act brought about a host of changes to US tax policy, from tax breaks on tips and overtime to an increased cap on state and local tax deductions, also known as SALT. But are Americans feeling the shifts on tax day? On today’s Big Take podcast, host David Gura and Bloomberg reporter Ben Steverman dig into how the president’s second-term tax provisions are playing out, and what a lower-than-expected increase on the average return could mean for the Republican Party heading into midterms later this year. Read more:  The Salary Penalty: Why Trump’s Tax Bill Hits a Banker Harder Than a Plumber Tax Refunds Are Up, But Many Americans Aren’t Feeling It People Are Using Claude to Do Their Taxes (But Maybe They Shouldn’t) Further listening: Taxes Are Due Soon. Should the Rich Pay More? We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by David Gura; Produced by Rachael Lewis-Krisky; Reported by Ben Steverman; Edited by Aaron Edwards. Fact-checking by Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The ceasefire between the US and Iran is set to expire next week and the US is trying a different tactic to pressure Iran into a deal: a naval blockade. On today’s Big Take podcast, Bloomberg Economics defense lead Becca Wasser and Bloomberg Middle East Breaking News editor Patrick Sykes join Sarah Holder to break down how the US’s naval blockade of the Strait of Hormuz works, what could happen if it’s tested and how this latest pressure move could influence another round of Iran-US peace talks. Hosted by Sarah Holder; Produced by David Fox; Reported by Becca Wasser and Patrick Sykes; Edited by Paddy Hirsch. Fact-checking by Rachael Lewis-Krisky and Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Hungarians handed Prime Minister Viktor Orbán a resounding defeat in Sunday’s parliamentary elections. Peter Magyar and his upstart Tisza won the election by a landslide on the promise of ending years of corruption and the ‘illiberal democracy’ that became synonymous with Orbán’s tenure. On today’s Big Take podcast, former US Ambassador David Pressman sits down with Sarah Holder to discuss what Orbán’s loss means for Hungary’s economy and political institutions, how a new leader could reshape its relationships with the EU and Russia and why President Trump and the MAGA movement are paying close attention. Read more: Hungarian Stocks and Forint Jump as Orban Loss Starts New Era We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Eleanor Harrison-Dengate and Rachael Lewis-Krisky; Reported by Andras Gergely; Edited by Jeffrey Grocott. Fact-checking by David Fox and Laura Newcombe; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

A core US demand heading into peace talks with Iran this weekend will be reopening the Strait of Hormuz, where a near-total shipping shutdown has led to rising global oil prices and threatened supplies of food, plastics, packaging and semiconductors. On today’s Big Take podcast, Sarah Holder speaks with Tracy Alloway and Joe Weisenthal, hosts of Bloomberg’s Odd Lots podcast, about how the Hormuz shutdown is reverberating around commodities markets — and the lasting mark it could leave on the global supply chain even after ships start moving again. For more Odd Lots episodes on Iran and commodities, check out: How War in Iran Will Squeeze America's Farmers Even Further - Odd Lots  The Petrochemicals Shock That's Already Rippling Through Plastics - Odd Lots Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky. Edited by Jeffrey Grocott. Fact-checking by Eleanor Harrison-Dengate and Julia Press; Engineering by Katie McMurran. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Need a little ‘moon joy’? Over the past eight days, four astronauts on NASA's Artemis II mission have been flying through the cosmos, breaking records for human spaceflight and sharing never-before-seen images from the dark side of the moon. On today’s Big Take podcast, guest host Stacey Vanek Smith and Bloomberg global space reporter Loren Grush talk about what the mission means for the future of galactic exploration and the burgeoning “lunar economy.” Read more: NASA’s Breathtaking Photos From Far Side of the Moon Evoke Wonder and Awe NASA Crew Heads Back to Earth After Record Trip Around Moon If you're interested in reading more but aren't yet a Bloomberg subscriber, we have a subscription offer for listeners at Bloomberg.com/podcastoffer. Hosted by Stacey Vanek Smith; Produced by David Fox; Reported by Loren Grush; Edited by Aaron Edwards. Fact-checking by Eleanor Harrison-Dengate; Engineering by Katie McMurran. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

In just over a decade, Tether has grown from an idea into a global crypto juggernaut, poised to become one of the world’s most highly valued private companies. But where did its dollar-linked stablecoin come from and where is it headed? On today’s Big Take podcast, Bloomberg reporter Todd Gillespie and guest host Stacey Vanek Smith unpack one of the most powerful companies you’ve (maybe) never heard of. Read more: With Billions to Spend, Tether Finds New Allies in Washington As Lutnick Sold Cantor to His Children, Tether Gave Them a Loan Hosted by Stacey Vanek Smith; Produced by David Fox; Reported by Todd Gillespie, Ryan Weeks, Annie Massa; Edited by Aaron Edwards, Janet Paskin. Fact-checking by Rachael Lewis-Krisky, Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

From London to California, calls to “tax the rich” are growing. But what are they calling for in practice, and how are governments responding? On today’s Big Take podcast, host Sarah Holder talks to Bloomberg reporters Charlie Wells and Laura Nahmias about the fight over taxes for the world’s wealthiest, and what a political tussle between New York City Mayor Zohran Mamdani and New York Governor Kathy Hochul reveals about the hurdles some measures are facing. Read more: ‘Soak the Rich’ Battle Cry Is Rising From London to California We’re also closely watching US President Donald Trump’s threats to Iran today, after he posted on Truth Social that “a whole civilization will die tonight, never to be brought back again.” Trump’s deadline for a deal with Iran, including reopening the Strait of Hormuz, is 8 p.m. ET.This is a developing story. We are live blogging at Bloomberg.com with the latest from across the globe. You can also listen to the latest at Bloomberg News Now. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Julia Press; Reported by Charlie Wells, Laura Nahmias; Edited by Aaron Edwards. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

President Trump intensified his threats on Iran Tuesday morning posting on Truth Social, "A whole civilization will die tonight, never to be brought back again."This escalation follows a post on Monday saying the US would attack its bridges and power facilities if it failed to reopen the Strait of Hormuz to shipping traffic by 8pm ET Tuesday night. On today’s Big Take podcast, host Sarah Holder sits down with White House correspondent Courtney Subramanian to unpack the state of negotiations between the US and Iran, Tehran’s rejection of a temporary ceasefire and the mounting pressure from voters and international leaders.This is a developing story. We are live blogging at Bloomberg.com with the latest from across the globe. You can also listen at Bloomberg News Now.We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. See omnystudio.com/listener for privacy information.

After a month of fighting, President Trump took his case for war with Iran to the American people Wednesday night. In a prime-time address that sent energy markets surging, he promised both an imminent end to the conflict and two to three weeks of further intense military strikes. On today’s Big Take podcast, host Sarah Holder and Bloomberg Washington Correspondent Jeff Mason unpack the president’s brief, often contradictory speech. They discuss how it put investors and key allies on the back foot, what it could mean for the president’s agenda heading into the midterms and where the conflict goes from here.We are live blogging our coverage of the war with Iran at Bloomberg.com with the latest from across the globe.  Here’s what else we’re watching today: Trump Ousts Bondi After Chaotic Tenure at Justice Department Blue Owl Limits Redemptions on Private Credit Funds After Massive Exit Requests See omnystudio.com/listener for privacy information.

US President Donald Trump spoke for nearly 20 minutes from the White House, saying the US would hit Iran “extremely hard” in the next two to three weeks, and that he’d strike key infrastructure like electric plants if no deal is reached.Stocks fell and oil jumped on his comments, with Brent rising 5% as Trump talked about possible escalation and reiterated his call for other nations to step in to fully reopen the Strait of Hormuz. This is a developing story. We are live blogging at Bloomberg.com with the latest from across the globe. You can also listen at Bloomberg Daybreak or Bloomberg News Now.We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. See omnystudio.com/listener for privacy information.

Fueled by a powerful mix of FOMO and a government drive to accelerate AI adoption, OpenClaw has exploded in popularity across China. But as these agentic systems gain sweeping access to personal data, reports of them “going rogue” are beginning to surface. On today’s Big Take Asia podcast, host K. Oanh Ha sits down with Bloomberg’s Luz Ding and Bloomberg Opinion’s Catherine Thorbecke to dig into the rapid rise of agentic AI in China, why it has taken hold so quickly and the mounting security concerns pushing users and regulators to reassess the risks. Read more: There’s Method to China’s OpenClaw Madness China’s OpenClaw Obsession Is a Risky Gamble on Experimental AI Hosted by K. Oanh Ha Produced by Naomi Ng, Yang Yang Edited by Paddy Hirsch Fact-checking by Eleanor Harrison-Dengate Engineering by Taka Yasuzawa Deputy Executive Producer: Julia Weaver Executive Producer: Nicole Beemsterboer See omnystudio.com/listener for privacy information.

A month into the Iran War, the Trump administration continues to send mixed messages about when and how it will end. In addition to threats on electricity plants and oil wells if a deal isn’t reached, the president said he would consider destroying another piece of critical infrastructure: Iran’s water desalination plants. On today’s Big Take podcast, host Sarah Holder talks to Bloomberg defense policy and intelligence reporter Peter Martin about the Middle East’s reliance on desalination, the potential humanitarian crisis that targeting the plants could spark and how that action could fly in the face of international law. Read more:  How the Iran War Is Exposing the Risks to Gulf Water Supply US Expands Threats to Iran Energy, Water as It Hails Talks Hosted by Sarah Holder; Produced by David Fox; Reported by Peter Martin; Edited by Paddy Hirsch. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

SpaceX is preparing for liftoff. After months of speculation, the company could file for a historic IPO as early as this week — seeking $75 billion in funding that would push the company’s value to $1.75 trillion.  On today’s Big Take podcast, Bloomberg Tech’s Ed Ludlow joins David Gura to break down the timing of the mega-offering. They discuss the challenges SpaceX could face taking its Mars-focused mission public, how the move could push Elon Musk’s net worth past the $1 trillion mark and what this all means for everyday investors looking to get in on the action. Read more: Is SpaceX Worth $1.75 Trillion? Key Questions for Musk’s Big IPO Hosted by David Gura; Produced by Julia Press; Reported by Ed Ludlow; Edited by Tracey Samuelson and Jeffrey Grocott. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

BTS is back. After a near four-year hiatus, the K-pop icons returned with a historic Netflix event – the platform’s first concert live streamed from Asia.  On today's Big Take Asia podcast, host K. Oanh Ha joins Bloomberg’s Sohee Kim and Lucas Shaw to discuss Netflix’s power move and how global streamers are fighting for dominance in the competitive Asian market. See omnystudio.com/listener for privacy information.

Leaders in Washington and Tehran are on the clock, with about a month to wrap up the Iran war before it does greater damage to the global economy and their own political fates, according to retired Admiral James Stavridis. On today’s Big Take podcast with David Gura, Adm. Stavridis, the former head of US Southern Command and Supreme Allied Commander of NATO, outlines how the US troops heading to the region could help bring about a diplomatic resolution – or raise the risk of a longer conflict. Read more:  Taking Kharg Island May Be a Big Risk for Little Reward Three Targets for US Boots on the Ground in Iran Iran Can Turn the Persian Gulf Into a Minefield Hosted by David Gura; Produced by David Fox; Edited by Jeffrey Grocott. Fact-checking by Eleanor Harrison-Dengate, Tracey Samuelson and Julia Press; Engineering by Katie McMurran. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Just when it seemed that Netflix had clinched the deal to purchase Warner Bros. Discovery, Paramount Skydance Corp. swooped in with a $110 billion counter-offer that was ultimately too good for the studio to pass up. On today’s Big Take podcast, Bloomberg’s Lucas Shaw and Chris Palmeri take host Sarah Holder inside the behind-the-scenes negotiations that secured the deal for Paramount, how Netflix co-CEO Ted Sarandos explained his company’s decision to walk away –  and the twists and turns that could still be coming in this story as two mega-studios become one.  Read more: What the Paramount-Warner Merger Means for Hollywood David Ellison Used Political Ties, Deep Pockets to Buy Warner Bros.Netflix’s Co-CEO Explains Why He Quit the Warner Bros. Fight See omnystudio.com/listener for privacy information.

Two decades ago, a federal prosecutor in Florida spent two years investigating Jeffrey Epstein and urged her superiors to charge him. Her frustrations mounted as her boss, US Attorney Alex Acosta, pursued a now-infamous plea deal that allowed Epstein to serve just 13 months, much of it on work release. On today’s Big Take podcast, Bloomberg legal reporter David Voreacos joins host Sarah Holder to examine emails and evidence recently released by the Justice Department. They reveal Marie Villafaña’s exhaustive efforts to hold Epstein accountable — and how, despite years of credible evidence, he managed to slip through the cracks. Read more: Sex-Crimes Prosecutor's Repeated Pleas for Epstein's Arrest Were Denied Hosted by Sarah Holder; Produced by Julia Press; Reported by David Voreacos; Edited by Jeffrey Grocott. Fact-checking by Eleanor Harrison-Dengate and David Fox; Engineering by Katie McMurran. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

President Donald Trump says he believes he’ll have the “honor of taking Cuba.” As the island nation suffers from major blackouts and a US squeeze on its oil supply, its regime’s survival — and the country’s future broadly — is in question. On today’s Big Take podcast, host Sarah Holder talks to Bloomberg reporters Eric Martin and Jim Wyss about the dire situation on the ground in Cuba, ongoing talks between the country’s leadership and the US and what could come next. Read more:  Cuba Is Struggling to Keep Lights On Amid Trump’s Oil Blockade Can Cuba’s Regime Survive as US Chokes Oil Supplies? Trump’s Plan for Cuba Would Make the US the Island’s Patron Hosted by Sarah Holder; Produced by David Fox; Reported by Eric Martin, Jim Wyss; Edited by Aaron Edwards. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

As the war with Iran drags out and oil prices remain turbulent, it raises the question of whether — and how — prolonged conflict in the Middle East might impact global fossil fuel dependence and the future of renewable energy. On today’s Big Take podcast, Bloomberg reporter Todd Woody and Zero podcast host Akshat Rathi join Sarah Holder to discuss early signs that the high cost of oil is reigniting consumer interest in electric vehicles and other clean energy technologies, and how companies and countries are beginning to respond.  Read more: Surging Gas Prices Reignite EV Interest Listen more:  What a $100-Per-Barrel Oil Spike Does to the Global Economy Zero Podcast: War with Iran is a nightmare for oil and gas. What does it mean for clean energy? Hosted by Sarah Holder; Produced by Julia Press; Reported by Todd Woody and Akshat Rathi; Edited by Tracey Samuelson. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

In Episode 6 of The Sixth Bureau, a series from The Big Take, with spy Xu Yanjun in prison, the US government pursues some of his collaborators. Plus, host Jordan Robertson gets an unexpected call which leads to a big discovery. The Sixth Bureau from Bloomberg News follows an MSS intelligence officer whose mission was to acquire the crown jewels of American aerospace companies. With aliases, blackmail and the occasional break-in, he targeted corporate giants. That is, until his sloppiness — and a cunning FBI sting — led to a stunning reversal: Xu Yanjun became the first Chinese intelligence officer ever convicted on American soil. The Sixth Bureau is the story of superpowers, their secrets and how one Chinese spy got caught. Listen to Episodes 1 - 5 here. See omnystudio.com/listener for privacy information.

Has Iran laid mines across the Strait of Hormuz? With attacks on gas and oil facilities across the Middle East sending energy prices soaring, a key to restoring global oil supplies is ensuring the Strait of Hormuz is safe for tanker traffic. However, even the possibility that the area has been mined suggests that a recovery could be slow. On today’s Big Take podcast, Bloomberg’s global defense editor, Gerry Doyle, tells David Gura about the challenges of clearing mines — especially before the shooting stops. Read more:  Mines, Missiles, and the Strait of Hormuz Mine-Sweeping Drones Don’t Eliminate The Risks For Clearing Hormuz Hosted by David Gura; Produced by David Fox; Reported by Gerry Doyle; Edited by Jeffrey Grocott. Fact-checking by Eleanor Harrison-Dengate; Engineering by Katie McMurran. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The Federal Open Market Committee announced this afternoon that it would hold interest rates steady. The decision comes in spite of spiking oil prices and new market uncertainty driven by the Iran War. On today’s Big Take podcast, host David Gura sits down with Bloomberg Federal Reserve reporter Amara Omeokwe and Wharton professor and historian Peter Conti-Brown to discuss how the Fed is thinking about the Iran War and its impacts on the US economy — and what could shift its calculus in the months ahead. Read more: Fed to Hold Interest Rates Steady as Iran War Scrambles the Economic Outlook Hosted by David Gura; Produced by Julia Press; Reported by Amara Omeokwe; Edited by Tracey Samuelson. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

From soaring fuel prices in Pakistan to a shortage of cooking gas in India, Asia is bearing the brunt of the energy crunch sparked by the Iran War. On today’s Big Take Asia podcast we look at how war in the Middle East has pushed Asia to the forefront of a global crisis. Host K. Oanh Ha speaks with Bloomberg’s Faseeh Mangi about the impact of soaring fuel prices in Pakistan and Clara Ferreira Marques about how the least economically resilient countries are feeling the most pain.  Hosted by K. Oanh Ha; Produced by Yang Yang, Naomi Ng;  Reported by Faseeh Mangi, Clara Ferreira Marques;  Edited by Paddy Hirsch. Fact-checking by Naomi Ng, Eleanor Harrison-Dengate;  Engineering by Taka Yasuzawa. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver; Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

As the war in Iran draws in more countries, it’s had unlikely benefits for one of Iran’s key allies: Russia. President Trump has eased some sanctions on Russian oil in his efforts to alleviate the oil squeeze created by the conflict. Meanwhile, the allyship between Russia and Iran has deepened as both countries have shared battlefield intelligence. On today’s Big Take podcast, host Sarah Holder talks with US defense and intelligence reporter Natalia Drozdiak about how Russia could benefit from the Iran War — and what it could ultimately mean for Russia’s war in Ukraine. Read more: Putin’s ‘Hidden Hand’ Guides Iran’s Strikes in Widening War Hosted by Sarah Holder; Produced by David Fox; Reported by Natalia Drozdiak; Edited by Naomi Shavin. Fact-checking by Eleanor Harrison-Dengate; Engineering by Katie McMurran. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

By any account, Chen Zhi's ascent was meteoric. At a young age he founded a real estate company in Cambodia, which quickly became the sprawling Prince Group conglomerate. But beneath this legitimate facade, Chen allegedly ran a vast criminal network, building an empire on scams, human trafficking and high-level political protection. On today’s Big Take Asia podcast, Host K. Oanh Ha and Bloomberg’s David Ramli look into the rapid rise and sudden downfall of an alleged criminal mastermind. Never miss an episode. Follow The Big Take Asia podcast today Read more: The Tycoon Who Had a Secret Life as an Alleged Scam Kingpin Further listening: Inside Southeast Asia’s Most Notorious Crime HubThis episode was produced by: Yang Yang; Editors: Patrick Hirsch, Serena Ng, Matthew Thomas; Reporting by: David Ramli; Additional Reporting: Low De Wei; Sound Design/Engineer: Taka Yasuzawa; Fact-checker: Eleanor Harrison-Dengate; Deputy Executive Producer: Julia Weaver; Executive Producer: Nicole Beemsterboer See omnystudio.com/listener for privacy information.

From online banking and social media to digital ads and AI subscriptions, digital services are the fastest-growing segment of global trade. Unlike physical exports, they’ve been subject to little regulation, taxation or tariffs. Until now. On today’s Big Take podcast, Bloomberg global trade editor Brendan Murray and David Gura dig into the rising tensions over the almost $5 trillion in digital services sold across borders each year, why a consequential WTO meeting could change everything and what it means for the global tariff war. Read more: Trump Starts Rebuilding Tariff Protections Targeting China, Europe  Hosted by David Gura; Produced by Rachael Lewis-Krisky; Reported by Brendan Murray; Edited by Jeffrey Grocott. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

In the first 24 hours of US attacks on Iran, the scale of firepower more than doubled that of the US’ initial assault on Iraq in 2003 — an expansion made possible by the Pentagon’s embrace of AI. Just hours before the attack, the US parted ways with AI company Anthropic, after the company raised concerns over how the Defense Department might use its tools. The Pentagon says it wants the ability to use the tools for “all lawful purposes.” On today’s Big Take podcast, host David Gura sits down with Bloomberg national security and tech reporter Katrina Manson — author of the upcoming book Project Maven: A Marine Colonel, His Team, and the Dawn of AI Warfare — and Bloomberg senior editor Mike Shepard to discuss how the US is integrating AI into its warfighting machine and the guardrails in place for the military as it utilizes AI technology to make life-and-death decisions. Read more: ‘God, It’s Terrifying’: How the Pentagon Got Hooked on AI War Machines Katrina Manson’s book is Project Maven: A Marine Colonel, His Team, and the Dawn of AI Warfare. Hosted by David Gura; Produced by Julia Press; Reported by Katrina Manson and Michael Shepard; Edited by Jeffrey Grocott. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

On today’s Big Take podcast, Bloomberg’s Brian Chappatta and Olivia Fishlow unpack the recent tumult in the world of private credit. How cracks formed in this $1.8 trillion market, how companies are trying to tamp down investor anxiety and what it all could mean for the private credit industry’s efforts to get into 401(k)s.  Read more: Private Credit’s Gate-Crashers Are Forcing Funds Into a Brutal Spot  Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Reported by Brian Chappatta and Olivia Fishlow; Edited by Naomi Shavin and Tracey Samuelson. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

After oil soared to nearly $120 per barrel on Sunday, President Donald Trump began to signal that the US had already achieved victory in Iran and could wind down the conflict soon. There was an immediate drop in oil prices — and the entire global economy seemed to sigh in relief. On today’s Big Take podcast, Stacey Vanek Smith and Bloomberg Opinion’s Javier Blas discuss why the global economy is so sensitive to oil price spikes and how oil prices are ratcheting up both domestic and international pressure on Trump. Read more:  Higher Gas Prices Hit Americans Already Hurting From Inflation This Isn’t an Energy Crisis — at Least Not Yet Hosted by Stacey Vanek Smith; Produced by David Fox; Reported by Stacey Vanek Smith; Edited by Naomi Shavin. Fact-checking by Eleanor Harrison-Dengate, Aaron Edwards and Jeff Grocott; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

A major factor that could limit hostilities in Iran and the Middle East is munitions — what weapons each side is using, and how quickly they might run out. On today’s Big Take podcast, Sarah Holder talks to Bloomberg global defense editor Gerry Doyle and Bloomberg Economics defense lead Becca Wasser about how long the US and Iran can carry on missile and drone strikes, what happens next in the region and what opportunity cost the US could pay for picking this battle now. Read more: Iran’s Missile Math: $20,000 Drones Take on $4 Million Patriots Ukraine Offers Help Downing Iran Drones in Exchange for Patriot Missiles Hosted by Sarah Holder; Produced by Julia Press; Reported by Gerry Doyle and Becca Wasser (Bloomberg Economics); Edited by Jeffrey Grocott. Fact-checking by David Fox and Rachael Lewis-Krisky; Engineering by Katie McMurran. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver; Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

President Donald Trump fired Kristi Noem from her role as head of the Department of Homeland Security on Thursday. One of the reasons for Noem’s removal involved her oversight of a $240 million DHS ad campaign, starring herself.  On today’s Big Take podcast, Bloomberg investigative reporters Irene Casado Sanchez and Eric Fan join host Sarah Holder to reveal the inside story of that ad blitz — and the ties between people in Trump’s orbit and the companies that were given millions to spend on it.  Read more: Noem Ad Blitz Benefits Media Firms Linked to Trump Campaigns See omnystudio.com/listener for privacy information.

In Episode 5 of The Sixth Bureau, a series from The Big Take, a spy from China’s Ministry of State Security travels to an overseas meeting with a valuable source. He has no idea he is walking into a trap that the FBI has been setting up for months. The Sixth Bureau from Bloomberg News follows an MSS intelligence officer whose mission was to acquire the crown jewels of American aerospace companies. With aliases, blackmail and the occasional break-in, he targeted corporate giants. That is, until his sloppiness — and a cunning FBI sting — led to a stunning reversal: Xu Yanjun became the first Chinese intelligence officer ever convicted on American soil.The Sixth Bureau is the story of superpowers, their secrets and how one Chinese spy got caught. Listen to Episodes 1 - 4 here. See omnystudio.com/listener for privacy information.

The war in the Middle East is rattling global oil markets, raising the risk of supply disruptions and price shocks for energy‑hungry Asian economies. On today’s Big Take Asia podcast, host K. Oanh Ha speaks with Bloomberg’s Daniel Ten Kate and Fereidun Fesharaki, founder and chairman of FGE, about how tensions involving Iran are being watched by energy markets — and which Asian economies are most exposed if the crisis escalates. See omnystudio.com/listener for privacy information.

How long will hostilities in Iran last? Former Secretary of State Antony Blinken says it will likely depend on “markets and munitions.” In an interview with the Big Take podcast, Blinken and host David Gura discuss the Obama and Biden administrations’ efforts to avoid conflict with Iran, the unanticipated ways this war puts the US at risk and how the strikes could reshape the region. Hosted by David Gura; Produced by David Fox; Edited by Jeffrey Grocott. Fact-checking by Rachael Lewis-Krisky and Julia Press; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

As the war with Iran widens in the Middle East, legislators on both sides of the aisle have expressed frustration with a lack of advance notice of the strikes and the inconsistencies in the administration’s justifications and goals for the military action. On today’s Big Take, Bloomberg national political correspondent Nancy Cook and national security reporter Jamie Tarabay join the show to discuss what Trump is trying to accomplish in Iran, what powers Congress has to shape US involvement and whether legislators will support what Trump tries to do next.  Read more: US Congress Unlikely to Limit Trump on Iran War for Now Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Reported by Nancy Cook and Jamie Tarabay; Edited by Tracey Samuelson. Fact-checking by David Fox, Eleanor Harrison-Dengate and Julia Press; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The US and Israel’s attacks on Iran have entered their third day — and President Donald Trump said Monday that the US military operation could continue for weeks, or more. On today’s Big Take podcast, reporter Golnar Motevalli talks to host Sarah Holder about the widening regional conflict, Iran’s succession plans and what we know about the end game for the US as President Trump vows to do “whatever it takes.”  Follow Bloomberg’s live coverage here. Hosted by Sarah Holder; Produced by Julia Press and Eleanor Harrison-Dengate; Reported by Golnar Motevalli; Edited by Jeffrey Grocott. Fact-checking by David Fox and Rachael Lewis-Krisky; Engineering by Katie McMurran. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Targets in Iran, Israel and in the Middle East are under attack in an unprecedented escalation in the conflict between the US and Iran. The combat operations come after weeks of negotiations between the US and Iran over what remains of its nuclear program. On today’s Big Take, Bloomberg’s Jeff Mason and Joumanna Bercetche join host David Gura to discuss the timing and goals of this weekend’s strikes — and the risk of a widening, regional conflict. This is a developing story. We are live blogging at Bloomberg.com with the latest from across the globe. Read more:  Diplomacy Shifts to War: How Trump’s Team Decided to Attack Iran Oil Market’s ‘Worst Fears’ Are Here as Gulf Conflict Hits Hormuz  Hosted by David Gura; Produced by David Fox and Rachael Lewis-Krisky; Reported by Jeff Mason and Joumanna Bercetche; Edited by Naomi Shavin. Fact-checking by Rachael Lewis-Krisky. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

After steering one of Wall Street’s iconic investment banks through the financial crisis, former Goldman Sachs CEO Lloyd Blankfein is investing his own money and, with the publication of a new memoir, reflecting on his time at the firm. On today’s Big Take podcast, Blankfein tells host David Gura how he uses AI, what he sees as a worrying expansion of opaque investment products and what happens when public companies respond to political pressures. And David asks him about the resignation of Goldman’s top lawyer following the release of the latest Epstein files. Hosted by David Gura; Produced by Julia Press; Edited by Jeffrey Grocott. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

President Donald Trump says the US has begun major combat operations against Iran. Airstrikes have been carried out by Israel and the US, with multiple provinces hit. Iran in turn has fired back at Israel and targeted US bases and assets in the region, including Bahrain, the UAE, Kuwait and Iraq. This comes after weeks of talks failed to produce a fresh agreement on Iran’s nuclear program. OPEC+ will consider the option of a larger supply increase when key members meet on Sunday. This is a developing story. We are live blogging at Bloomberg.com with the latest from across the globe. You can also listen at Bloomberg News Now.We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. See omnystudio.com/listener for privacy information.

In Episode 4 of The Sixth Bureau, a series from The Big Take, we follow a spy from China’s Ministry of State Security as he tries to plan a delicate overseas meeting with a valuable source. But the person he’s talking to isn’t working alone. The Sixth Bureau from Bloomberg News follows an MSS intelligence officer whose mission was to acquire the crown jewels of American aerospace companies. With aliases, blackmail and the occasional break-in, he targeted corporate giants. That is, until his sloppiness — and a cunning FBI sting — led to a stunning reversal: Xu Yanjun became the first Chinese intelligence officer ever convicted on American soil. The Sixth Bureau is the story of superpowers, their secrets and how one Chinese spy got caught. Listen to Episodes 1 - 3 here. See omnystudio.com/listener for privacy information.

After US forces captured former Venezuelan President Nicolás Maduro in January, President Donald Trump said the US would “run” the South American country. What’s actually happened since? On today’s Big Take podcast, host David Gura has a sweeping conversation with International Crisis Group senior analyst Phil Gunson, who’s based in Caracas and has tracked Latin American politics for decades. Further listening:  Why Trump Wants Venezuela’s Oil How Venezuela Shifts China’s Calculus The Domino Effect of the ‘Donroe Doctrine’ Hosted by David Gura and Sarah Holder; Produced by Rachael Lewis-Krisky; Edited by Aaron Edwards. Fact-checking by Eleanor Harrison-Dengate; Engineering by Katie McMurran. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

As the “AI scare trade” jolts companies large and small, Apple shares keep doing their own thing. The company has “decoupled” to the greatest degree in 20 years from forces moving the rest of the Nasdaq 100. Why — and how? On today’s Big Take podcast, host Sarah Holder talks to Bloomberg’s equities reporter Ryan Vlastelica and Chief Apple Correspondent Mark Gurman about how the company became a hedge against fears of AI disruption — and why that may not be a good thing.  Hosted by Sarah Holder; Produced by David Fox; Reported by Ryan Vlastelica and Mark Gurman; Edited by Jeffrey Grocott. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

President Trump heads into Tuesday evening’s State of the Union address with sagging poll numbers just days after his signature tariff strategy was struck down by the Supreme Court. As a speaker with a history of diverging from script, Trump is expected to defend everything from his record on affordability to his approach to Iran in order to rally his base ahead of midterm elections.  On today’s Big Take Podcast, White House reporter Josh Wingrove joins host David Gura to discuss what this year-one milestone means for Trump amid tensions in the US and around the world. Read more: Trump to Make Economic Sales Pitch to Congress as Headwinds Grow  Hosted by David Gura; Produced by Rachael Lewis-Krisky; Reported by Josh Wingrove; Edited by Naomi Shavin. Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

From Brussels to Beijing, the United States’ largest trading partners are digesting the Supreme Court’s decision to overturn President Trump’s signature tariffs — along with his threats to impose new, potentially stickier levies by other means. On today’s Big Take podcast, Big Take Asia host K. Oanh Ha sits down with Bloomberg China economy and government editor Jenni Marsh and Bloomberg’s top trade editor Brendan Murray to discuss the global reaction to Trump’s tariff setback: how countries like China are pushing for more favorable terms, the additional levers Trump is using to build a “tariff wall” around the US and what this could mean for the future of global trade. Hosted by K. Oanh Ha and Sarah Holder; Produced by Naomi Ng and Julia Press; Reported by Jenni Marsh and Brendan Murray; Edited by Paddy Hirsch; Fact-checking by Eleanor Harrison-Dengate and David Fox; Engineering by Katie McMurran Senior Producer: Naomi Shavin Deputy Executive Producer: Julia Weaver Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

The US Supreme Court on Friday handed President Donald Trump one of the biggest losses of his second term, striking down his signature tariff plan. On today’s Big Take podcast, Sarah Holder talks to one of the people at the heart of the drama: Rick Woldenberg, the CEO of Learning Resources, a toy company that was a lead plaintiff in the case. And she unpacks the decision and its implications with Supreme Court reporter Greg Stohr and global trade editor Brendan Murray. The Big Take Asia followed Learning Resources throughout 2025 as it formulated its legal response to the new US tariffs and grappled with the challenges of shifting its supply chain from China to some lower-tariff neighbors.  To hear more, listen to these Big Take Asia episodes: Tariffed: The Toymaker That Took on Trump Part One  Tariffed: The Toymaker That Took on Trump Part Two  Tariffed: The Toymaker That Took on Trump Part Three The American Toymaker Suing Trump Over Destructive Tariffs Hosted by Sarah Holder; Produced by Julia Press and David Fox; Reported by Greg Stohr and Brendan Murray; Edited by Tracey Samuelson. Fact-checking by Rachael Lewis-Krisky; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

In Episode 3 of The Sixth Bureau, a series from The Big Take, we follow a spy from China’s Ministry of State Security to the Paris Air Show, and then watch him develop a valuable source, despite his bosses constantly getting in his way. The Sixth Bureau from Bloomberg News follows an MSS intelligence officer whose mission was to acquire the crown jewels of American aerospace companies. With aliases, blackmail and the occasional break-in, he targeted corporate giants. That is, until his sloppiness — and a cunning FBI sting — led to a stunning reversal: Xu Yanjun became the first Chinese intelligence officer ever convicted on American soil. The Sixth Bureau is the story of superpowers, their secrets and how one Chinese spy got caught. Listen to Episode 1 and 2 here.  See omnystudio.com/listener for privacy information.