Big Take
The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.
This Isn’t Your Grandparents’ UN
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...
Why Everyone Is Talking About High Diesel Prices
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...
US-China AI Race to Take Center Stage at Trump-Xi Meeting
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
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Hosted by K. Oanh...
How Much Is the Hormuz Blockade Costing the US?
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 Horm...
Big Pharma Needs New Drugs. China Has Them
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 Brun...
Japan Hikes Rates, Reshaping Carry Trade
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...
Most Americans Say They’re Working Class. Are They?
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 Clas...
Why the Federal Reserve Raised Interest Rates
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 specia...
The AI Industry Says It Wants to Slow Down. Can It?
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...
As Tensions with US Rise, Mark Carney Looks to Europe
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
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Hosted by David Gura; Produced by David Fox; Reported by Derek Decloet; Edited by Paddy Hirsch.
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LIV Golf’s $5 Billion Path to Bankruptcy
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 u...
How India Is Training the Robots of the Future
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
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So Could AI 'Kill Us All'?
"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 SaysWe h...
Trump Needs a Win. Enter His Venezuela Oil Deal
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 specia...
Why the Bond Market Has Everyone On Edge
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 Bon...
Americans Are Spending Billions to Help Their Pets Live Longer
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 F...
The Hottest New Trade Is Your Own Electricity
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 a...
Deadly Flooding in Nepal Highlights Asia’s Climate Vulnerability
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.
CIA Director Visits Moscow As Ukraine Stares Down a Dangerous Winter
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...
TikTok Experimented With Users’ Algorithms. One Died By Suicide
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 gl...
Our Town Chapter 4: All Metal Mode
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 B...
US Fed Chair Warsh Takes the Mic
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 Kan...
How Two-Minute Microdramas Became a Billion-Dollar Industry
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 Microdramas
China Brought 90-Second Microdramas to the US. Now Hollywood Wants In
We have a...
The Mormon Church’s Real Estate Empire
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 m...
Why Big Donors Aren’t Translating to Big Success in the US Midterms
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. Execut...
Our Town Chapter 3: One Little Bacon-Wrapped Sausage
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 M...
What Trump’s Tariffs Mean for Canned Soup
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...
What's Behind the Bond Market Rollercoaster
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...
The Unexpected Rise of North Korea’s Economy
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 Windfall
Further listening: North Korea’s Nuclear Program Reaches Tipping Point for the US
Watch, from Originals: Why Sanctions Aren’t Stopping North Korea
See omnystu...
How Amazon Landed on Mamdani’s Labor Agenda
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 AmazonWe have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.
Hos...
Our Town Chapter 2: This Dangerous Venture of Yours
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 Th...
A Major Earthquake Challenges Colombia’s New Right-Wing President
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...
The Chinese AI Model Rattling Silicon Valley and Washington
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 Controversy at Phia, Phoebe Gates’ Buzzy Startup
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...The Hedge Fund Toolkit Behind the Yen Intervention
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...
Our Town Chapter 1: Sometimes You Find Silver
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.
Hos...
The Situation at Situational Awareness
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 B...Introducing: Our Town
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...
The $19 Billion Menopause Economy
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
...Why a Weak Yen Is America’s Problem
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 e...
