Big Take

Call centers in the Philippines, the world’s second-biggest outsourcing center after India, are embracing artificial intelligence - and it’s radically changing what it looks and sounds like to work there. On today's Big Take Asia Podcast, host Rebecca Choong Wilkins demos the Sanas AI app and talks to Bloomberg's Saritha Rai about the industry's rapid transition and what it might mean for workers around the world. Read more: The World's Call Center Capital Is Gripped by AI Fever — and FearSee omnystudio.com/listener for privacy information.

The time has finally come for a rate cut. That was the takeaway of Fed Chair Jerome Powell's remarks in Jackson Hole on Friday when he let the world know to expect a cut at the next ​​Fed meeting in September.Bloomberg’s Mike McKee joins host Sarah Holder from Jackson Hole to discuss what that cut could look like — and what it would mean for the economy, the US election and the American consumer.Read more: Powell’s Pivot Leaves Traders Debating Size, Path of Rate CutsListen more: The Federal Reserve's Tricky Economic and Political TerrainSee omnystudio.com/listener for privacy information.

A Chinese businessman persuaded officials to establish a special economic zone in a remote part of Laos. The gamblers arrived first. Then came the drug runners, human traffickers and scammers.On today’s Big Take Asia podcast, host K. Oanh Ha speaks with Bloomberg Businessweek editor Matt Campbell about his investigation into the Golden Triangle Special Economic Zone and how it became a criminal’s paradise. Read more: Dodge CitySee omnystudio.com/listener for privacy information.

For the first time in more than a decade, Burning Man has not sold out. The gathering prides itself on its counter-cultural roots, and draws tens of thousands of people to the Nevada desert every year for a week of art, music and adventure. But it’s also gradually moved further into the mainstream, becoming a rite of passage for a certain set of Silicon Valley elites. Whether it’s because of last year’s rain, economic strains, or something deeper, one thing is clear: this year, demand for Burning Man tickets is down. On today’s Big Take podcast, Bloomberg technology reporter Ellen Huet joins host Sarah Holder to grapple with a burning question: has Burning Man peaked? Read more: Has Burning Man Peaked?See omnystudio.com/listener for privacy information.

Ports often make the news when they break: like the bridge collapse that shut down Baltimore's port earlier this year. But every day, ports in cities around the world keep supply chains humming and feed local economies; every year, they help move 80% of the things we buy. As conflicts between world powers intensify, ports are also the latest battlefields where geopolitical power is won and lost. On today’s episode, Bloomberg’s Brendan Murray tells host Sarah Holder how ports, from Belgium to Peru, are becoming strategic sites for countries to defend their interests. And why trillions of dollars are on the line in order to make these ambitions happen on time.See omnystudio.com/listener for privacy information.

After ten months of fighting in the Gaza Strip, Israel and Hamas could be close to a cease-fire deal. As of Monday afternoon, US Secretary of State Antony Blinken said that Israel had agreed to a cease-fire proposal. Hamas had yet to officially respond. If an eventual deal is achieved… the question becomes: How could the Gaza Strip rebuild? On today’s Big Take podcast, Bloomberg reporters Fares Alghoul, Fadwa Hodali, and Dan Williams take stock of the international cooperation — and money — it would take to reconstruct Gaza and how the future leadership of the Strip could complicate this already monumental task. Read more: Gaza Reduced to 42 Million Tonnes of Rubble. What Will It Take to Rebuild?See omnystudio.com/listener for privacy information.

There is nearly $13 trillion invested in exchange-traded funds, or ETFs. ETFs that mirror the S&P 500. ETFs for gold. ETFs for bitcoin. There’s even a Vegan ETF. How did this market get so big and varied? And just what goes into one? On today’s podcast, our Bloomberg Explains series continues with Bloomberg Intelligence senior ETF analyst and co-host of the Trillions podcast Eric Balchunas. He tells host David Gura about the unlikely duo who created the first-ever ETF in a last-ditch bid to save a struggling exchange. And Bloomberg ETF IQ and Money Stuff co-host Katie Greifeld breaks down the current booming market, and outlines which ETFs are safe investments – and which are better left alone. Further listening: Trillions Podcast - Bloomberg, Money Stuff - BloombergSee omnystudio.com/listener for privacy information.

That White Lotus-inspired trip to Sicily. The Instagram-perfect Joshua Tree glamping holiday. A party weekend in Miami. Ever since the first lockdown restrictions were lifted in 2021, Americans have been spending big on travel. But a recent slew of weak earnings from companies like Delta and Expedia suggest that the post-pandemic travel boom is finally over. In today’s episode, Bloomberg tech reporter Natalie Lung tells host Sarah Holder that from airlines to Airbnb, companies are reporting weaker-than-expected demand for summer travel. So does that mean now is the perfect time to book a last-minute vacation? Depends on where you’re game to go.Read more: Flights, Hotels and Parks Are All Flashing Travel Warning SignsSee omnystudio.com/listener for privacy information.

After weeks of protests and a brutal crackdown that led to several hundred deaths, Bangladesh’s Prime Minister Sheikh Hasina was forced to step down and flee the country, putting an abrupt end to her more than 15 years in power. Stepping into the leadership vacuum is Nobel Prize-winning economist Muhammad Yunus, who we spoke to last month -- when he was facing charges that his supporters said were trumped up by Hasina. Today on The Big Take Asia, host K. Oanh Ha speaks to Bloomberg’s Kai Schultz about what drove the student-led uprising and Hasina’s downfall, Yunus’s surprising turn to politics, and what’s at stake for one of Asia’s most promising economies. Read more: Yunus Cleared in Graft Case After Becoming Bangladesh Leader Further listening: Why This Nobel Prize Winner Faces Life Imprisonment in BangladeshSee omnystudio.com/listener for privacy information.

The sovereign wealth funds of the Persian Gulf used to be relatively easy places for US firms like Blackstone and Goldman Sachs to raise money. But recently, the power dynamics between Wall Street and Middle Eastern wealth fund managers have been shifting. On today’s Big Take podcast, Bloomberg’s Heather Perlberg breaks down for host David Gura why Middle Eastern sovereign wealth funds are asking for more in return for access to their trillions — and what that means not only for investors but also the future of the region. Read more: Middle East Trillions Force New Concessions From Wall StreetSee omnystudio.com/listener for privacy information.

Have you had the flu recently? Or RSV? Or just... some bug that you can’t quite shake? If so, you’re not alone. Bloomberg’s data team recently decided to investigate whether or not the perception that we’re all getting sick all the time is actually backed up by numbers. And what they found was truly surprising: in countries around the world, people are getting much sicker, much more often in the wake of the pandemic. We’re re-upping this episode, which originally aired on June 14, because – surprise – everyone’s still getting sick. Listen as host Sarah Holder and Bloomberg data reporter Jinshan Hong try to solve the global health mystery – including the potential culprits behind the surge in sickness and what we can do to avoid getting ill so often.See omnystudio.com/listener for privacy information.

On today’s Big Take podcast, economist Claudia Sahm explains the Sahm rule: how she came up with the idea, whether or not we’re in a recession, and why she wishes it was called something else.See omnystudio.com/listener for privacy information.

What happens when new weight-loss drugs like Ozempic transform a community? Bloomberg healthcare reporter Madison Muller went to Bowling Green, Kentucky to find out. That area has one of the highest concentrations of weight-loss drug prescriptions in the US. On today’s Big Take podcast, we explore what that means for people who live there, how these drugs are reshaping the local economy, and what it could look like in other places when Ozempic comes to town. Read more: What Happens When Ozempic Takes Over Your Town Listen more: Are Cheaper Ozempic Knockoffs Safe?See omnystudio.com/listener for privacy information.

Gautam Adani, the controversial Indian billionaire, gathered his two sons and two nephews for a family lunch one day and asked them a bombshell question: Did they want to carve up the Adani Group’s sprawling businesses between themselves or stick together? He gave them three months to decide. Today on The Big Take, host K. Oanh Ha talks to Bloomberg editor Anto Antony about the Adanis’ ambitious succession plan, in the wake of regulatory probes and a daring short-seller attack. We also hear from the Adanis themselves on their vision of an Adani Group without Gautam at the helm, how they’ll make decisions to manage an empire – which spans everything from airports to solar farms – and what's at stake for India’s $3.5 trillion economy. Read more: Adani Unveils $213 Billion Succession Plan as Scrutiny PersistsFurther listening: The Rise of Modi: Why India’s Leader Is So Popular – and Polarizing See omnystudio.com/listener for privacy information.

On Wall Street, the S&P 500 had its worst day in nearly two years and the Dow Jones Industrial Average shed over 1,000 points. Shares on Japan’s Nikkei Index fell by over 12% — their worst showing since Black Monday in 1987. Cryptocurrencies dropped, bond yields rose and the VIX, known as the fear index, saw its biggest one-day spike in more than 30 years. Is the Fed to blame? AI over-exuberance? Warren Buffett? On today’s episode, Bloomberg columnist John Authers walks host David Gura through the global market meltdown: what triggered it, how long it could last, and when to panic. Read more: $6.4 Trillion Stock Wipeout Has Traders Fearing ‘Great Unwind’ Is Just StartingFurther listening: Why the Market’s Big Tailwinds Are Coming to an EndSee omnystudio.com/listener for privacy information.

In April of 2023, a man carrying a small, black box walked into one of the nation’s most secure buildings, right next to the White House. In the box were ingredients that could be used to create a bioweapon. What the man revealed about how he got his hands on these ingredients was even scarier: an AI chatbot had given him the recipe. On today’s Big Take, host David Gura speaks to Bloomberg healthcare reporter Riley Griffin about why that stunt alarmed White House officials and woke them up to the potential dangers of AI-made bioweapons. Read more: AI-Made Bioweapons Are Washington’s Latest Security Obsession Further listening: We Can’t Opt Out of AI (But We Can Try) AI Wreaks Havoc on Global Power Systems See omnystudio.com/listener for privacy information.

If you’ve applied to a job and never heard back, you may have fallen prey to a ghost job — an online listing for a role that never actually existed. Ghost jobs aren’t just leaving job seekers frustrated. They’re also muddying the waters of the labor market when it comes to assessing the strength of the economy. On today’s Big Take podcast, Sarah Holder digs into the ghost job phenomenon with Molly Smith, an editor on Bloomberg’s US economy team.See omnystudio.com/listener for privacy information.

Each year in April, the US conducts a lottery that shapes the lives of hundreds of thousands of people. And each year, only around 85,000 are granted an H-1B visa for highly-skilled workers. With skyrocketing application numbers, the odds of winning have only gotten slimmer. But new data obtained by Bloomberg News has revealed how certain companies have manipulated the system, gaining an advantage over people who play it fair. In other words, the game was rigged. On today’s Big Take podcast, host Sarah Holder speaks to investigative journalists Eric Fan and Zachary Mider who explain how outsourcing companies and staffing firms exploited loopholes in the H-1B system to get extra shots at the lottery. Read more: How Thousands of Middlemen Are Gaming the H-1B ProgramSee omnystudio.com/listener for privacy information.

Costs are rising in Japan and small businesses risk being squeezed into oblivion if they don’t figure out how to raise their prices. After decades of deflation, many small Japanese companies are out of practice on exactly how to do it. Today on The Big Take Asia, host Rebecca Choong Wilkins talks to Bloomberg senior editor Reed Stevenson about a class he visited where people are relearning the long-lost skill of negotiation, and what a failure to raise prices at these small businesses – which make up 90% of the economy – could mean for Japan’s future.Read more: BOJ to Cut Bond Buying as Fate of Rate Policy Stirs Jitters See omnystudio.com/listener for privacy information.

This past weekend, Donald Trump became the first American president to address a crypto conference, telling an audience in Nashville that “if Bitcoin is going to the moon, I want America to be the nation that leads the way.” It’s a stark contrast from five years ago, when Trump said Bitcoin’s value was based on “thin air.” Is his conversion from crypto skeptic to crypto cheerleader real – or just a canny attempt to get donations? On today’s podcast, host David Gura speaks to Bloomberg investigative reporter Zeke Faux about the surprising opinions he heard on-the-ground at the world’s biggest Bitcoin conference – and what that could mean for the future of the 2024 presidential election.Read more: Trump Became Crypto Believer After Falling in Love With NFTs of HimselfSee omnystudio.com/listener for privacy information.

For most of this year, US markets were hitting fresh highs and investors were giddy about the potential of AI to make the world’s biggest tech companies even more profitable. Then, the picture changed. Welcome to the Great Rotation. On today’s Big Take podcast, host Sarah Holder speaks to Bloomberg cross-asset reporter Isabelle Lee about what’s behind the investor move from the Magnificent Seven tech firms into smaller companies — and what role, if any, recent US political turmoil is playing in investors’ expectations about the rest of the year. Read more: Markets Tear Up Popular Trades That Reached ‘Stupid Levels’ and Stocks Caught in Tug of War Between Tech and Rest: Markets WrapSee omnystudio.com/listener for privacy information.

Americans are more and more likely to get health care not from doctors, but from nurse practitioners. It’s one of the fastest-growing professions in the US — and the number of nurse practitioners in the country is expected to climb 45% by 2032. But training for the booming profession has never been standardized, and some students worry they’re not being set up for success. On today’s Big Take podcast, host Sarah Holder talks to investigative reporters Caleb Melby and Polly Mosendz about what the rapid rise of nurse practitioners has meant for their education — and their patients. Read more: The Miseducation of America’s Nurse PractitionersSee omnystudio.com/listener for privacy information.

Cheaper, knockoff versions of Ozempic, Wegovy and Zepbound are flooding the market, often promoted by telehealth companies in online ads and by influencers on TikTok and Instagram. These versions of the drugs are made by so-called compounding pharmacies, an obscure corner of America’s pharmaceutical market which makes drugs that aren’t approved by the Food and Drug Administration. On today’s Big Take podcast, Bloomberg reporters Ike Swetlitz and Madison Muller tell host Sarah Holder about their investigation into a $1 billion shadow industry that could be putting Americans’ health in danger. Read more: Unsafe Ozempic Knockoffs Are Flooding the MarketSee omnystudio.com/listener for privacy information.

With tens of millions of users under the age of 13, Roblox has become the biggest online gaming playground for kids. The company says its combination of AI chat filters and human moderators makes the platform safe for users of all ages. But a Bloomberg Businessweek investigation suggests that Roblox may have striking vulnerabilities. On today’s Big Take podcast, host David Gura speaks with reporters Olivia Carville and Cecilia D’Anastasio about the way predators have used the platform to groom children — and what Roblox is doing to keep young users safe.See omnystudio.com/listener for privacy information.

Is K-pop even K-pop without the K? A Bloomberg analysis of song lyrics shows that for the first time, almost half of K-pop songs released this year have English lyrics. On today’s podcast, host Sarah Holder speaks with Bloomberg reporter Sohee Kim about the genre’s identity shift and why industry efforts to grow its global audience might mean fewer Korean band members.See omnystudio.com/listener for privacy information.

Republican presidential nominee Donald Trump’s pick of Senator JD Vance as his running mate has many in Silicon Valley rejoicing — they see the former venture capitalist as one of their own. With Elon Musk’s commitment of $45 million a month to a super-PAC supporting the Trump campaign, it's the latest sign of Silicon Valley elites embracing the MAGA movement. But the tech world hasn’t always embraced Trump. On today’s Big Take podcast, Bloomberg Businessweek columnist Max Chafkin joins host David Gura to talk about how we got here and what their support could mean for another Trump term.See omnystudio.com/listener for privacy information.

Nobel Peace Prize-winning economist Muhammad Yunus pioneered micro loans as a tool to fight poverty. Now prosecutors in Bangladesh have linked him and his colleagues to a dizzying number of crimes, including embezzlement and laundering millions of dollars. Today on The Big Take, host K. Oanh Ha speaks to Bloomberg’s Kai Schultz about the complicated saga and what implications Yunus’s case has for Bangladesh, one of the fastest growing economies. We also hear from Yunus himself, who talks about the rift between him and Prime Minister Sheikh Hasina, and the personal impact of the legal drama. Read more: Bangladesh Sentences Nobel Peace Prize Winner to 6 Months in Prison Big Money Backs Tiny Loans That Lead to Debt, Despair and Even SuicideSee omnystudio.com/listener for privacy information.

Ever since the first Olympics were held over a century ago, the Games have been known for dazzling sporting feats…and dazzlingly expensive opening ceremonies. Recently, the ballooning cost of hosting the Games has led residents in Boston, Rome, and Oslo to reject efforts to bring the Olympics to their cities. As a result, the International Olympic Committee is hoping to rein in costs – starting with Paris. On today’s podcast, host Sarah Holder speaks with Bloomberg reporter Hugo Miller about the lessons Paris 2024 is trying to take from the first and only profitable Olympics held in Los Angeles in 1984 – and why no less than the future of the Games is at stake. Read more: Faster, Higher — Cheaper? Paris's Budget Effort to Reboot the OlympicsSee omnystudio.com/listener for privacy information.

A growing number of Ukrainian entrepreneurs, engineers and tech workers are joining the war effort against Russia, making and delivering a key tool: drones. They’re low-cost, high-impact and can do everything from transporting supplies to dropping bombs across enemy lines. On today’s Big Take podcast, Bloomberg Technology editor Jake Rudnitsky talks with host Sarah Holder about the burgeoning cottage industry that’s transforming the battlefield in the Russia-Ukraine war – and what the shift to drone warfare could mean for conflicts around the world. Read more: Ukraine Is Fighting Russia With Toy Drones and Duct-Taped Bombs Further listening: Zelenskiy Talks Trump, Biden and US Election Ukraine’s Frontline Fight Is Changing How the US Prepares for War See omnystudio.com/listener for privacy information.

China’s Luckin Coffee is the nation’s top coffee retailer, overtaking even Starbucks. That would be notable itself, but less than 4 years ago the company filed for bankruptcy, making its comeback even more unlikely. The turnaround is in part thanks to the chain’s automated stores, cut-price deals and innovative drinks that appeal to local tastes. Today on The Big Take Asia, host K. Oanh Ha speaks with Bloomberg’s Rachel Chang on how Luckin managed to turn around its failing business to overtake Starbucks, and asks whether it can hold on to its success as coffee takes off in China, and more rivals emerge. Read more: China’s Luckin Coffee Is Back From the Brink and Beating Starbucks Further listening: What Does China’s Economic Slowdown Mean For the Communist Party? See omnystudio.com/listener for privacy information.

French voters shocked the world on Sunday by rejecting Marine Le Pen’s efforts to see her far-right National Rally party take control of France’s legislature. And across the channel in Britain, a new government is set to enter parliament on Tuesday after voters last week gave the country’s left-leaning Labour Party a majority. On today’s Big Take podcast, host David Gura discusses the reaction to the surprise result in France with Bloomberg Opinion columnist Lionel Laurent, and Bloomberg’s Head of Economics and Government Stephanie Flanders breaks down why the landslide victory for Keir Starmer and Britain’s Labour Party isn’t necessarily as clear-cut as it might seem. For more, listen to Bloomberg’s “Voternomics” podcast.See omnystudio.com/listener for privacy information.

With the US presidential election on the horizon and no end in sight to the Russia-Ukraine war, Bloomberg’s Annmarie Hordern sits down with Ukraine President Volodymyr Zelenskiy for an exclusive interview. They discuss where the conflict stands now, what it would take to secure a peace deal and a possible end to the war – and Zelenskiy’s thoughts after watching the US presidential debate. On today’s Big Take podcast, Bloomberg’s lead on national security coverage Nick Wadhams sits down with host Sarah Holder to analyze the most important moments from the Zelenskiy interview and game out what the outcome of the US election could mean for the future of Ukraine. Watch the full interview: Zelenskiy on Putin, Russia Cease-Fire Prospects, Trump and US ElectionSee omnystudio.com/listener for privacy information.

The car sales industry in North America ground to a halt in mid-June after sophisticated cybercriminals took down CDK Global, the software provider with a near-monopoly on the industry. It caused chaos in the middle of one of the biggest seasons for car-buying. Dealers couldn’t access their inventory. Buyers couldn’t get cars off the lot. And customers feared for their personal data. On today’s Big Take podcast, Bloomberg senior technology editor Dana Wollman and host Sarah Holder discuss what getting back to normal for dealerships might look like, how the group of hackers behind the shutdown operate, and why industries that rely on centralized software systems — from education to healthcare — are vulnerable. Read more: BlackSuit Cybercrime Gang Blamed in CDK Hack That Roiled Car DealersSee omnystudio.com/listener for privacy information.

One after another, bankers at China International Capital Corporation — China’s premier investment bank – are pledging loyalty to the Communist Party, underscoring a new reality for Wall Street-style capitalists in the era of Xi Jinping.Today on the Big Take Asia, host David Gura speaks with Bloomberg’s Cathy Chan about the tug-of-war between communism and capitalism at the “Morgan Stanley of China,” and how politics are redefining Chinese finance.Read More: China’s Investment Bankers Join the Communist Party as Morale (and Paychecks) ShrinkFurther listening: What Does China’s Economic Slowdown Mean For the Communist Party?See omnystudio.com/listener for privacy information.

There is a growing push from retail traders, international investors, and a few big hedge funds to do something once unthinkable: keep stock markets open for 24 hours a day, 7 days a week. But when do traders sleep if Wall Street never shuts? On today’s Big Take podcast, Bloomberg finance reporter Katherine Doherty joins host Sarah Holder to break down what’s behind the growing demand for after-hours trading on platforms like Robinhood, whether regulators will ever approve such a move, and what happens to the opening bell if the New York Stock Exchange never closes.Read more: 24-Hour Stock Trading Is Booming – and Wall Street Is RattledSee omnystudio.com/listener for privacy information.

You’ve probably felt the pain of inflation. And you’ve also probably heard about shrinkflation — when companies respond to inflation by keeping their prices steady and making their products smaller. But have you heard of ‘upflation’? It’s a new tactic consumer goods brands are using to get people shopping again. From whole-body deodorant to more genres of razor, companies are tweaking everyday essentials and jacking up the price. On today’s Big Take podcast, Bloomberg consumer goods reporter Leslie Patton tells host Sarah Holder where to spot upflation in the wild – and how to avoid paying extra for everyday products. See omnystudio.com/listener for privacy information.

Four years after Beijing imposed a national security law on the city, Hong Kong continues to serve as an important financial hub connecting mainland China with the rest of the world. But beneath the surface, the consequences of the crackdown are far-reaching.Today on the Big Take Asia, ahead of the 27th anniversary of Hong Kong’s handover to China, host K. Oanh Ha speaks with Bloomberg’s China editor Alan Wong about how Beijing is reshaping Hong Kong, its impact on the city’s residents and what that means for Hong Kong’s future.See omnystudio.com/listener for privacy information.

LVMH has a sprawling portfolio of brands synonymous with luxury: Christian Dior, Louis Vuitton, Fendi, Bulgari, Celine, Tiffany & Co., Hennessy and Veuve Clicquot. Its CEO, Bernard Arnault, almost never speaks to journalists and doesn’t have the name recognition of the likes of Jeff Bezos or Elon Musk, but regularly vies with them for the title of richest person in the world and has an almost impossible-to-measure influence over the business world. Bloomberg Businessweek’s Brad Stone and reporter Angelina Rascouët recently landed a rare interview with Arnault, where they learned how he built his empire from the ground up. And they consider a burning question: At 75 years old with five grown children in the business, what are his plans for succession? Read more: The House of ArnaultSee omnystudio.com/listener for privacy information.

AI data centers are huge energy black holes, consuming as much energy as 30,000 homes – and their rapid growth is straining global grids. The numbers are astonishing: Sweden could see power demand from data centers roughly double over the course of this decade. In the UK, AI is expected to suck up 500% more energy over the next decade. And in the US, data centers are projected to use 8% of total power by 2030, up from 3% in 2022. On today’s podcast, host David Gura and Bloomberg reporter Josh Saul discuss just what these insatiable AI data center power needs mean for local communities, energy prices, and efforts to switch to renewables to combat climate change. Read more: AI is Already Wrecking Havoc on Global Power Systems See omnystudio.com/listener for privacy information.

What do Robert Kraft, Kevin Durant and Joe Tsai – owner of the Brooklyn Nets – all have in common? They’ve decided to go big on a new professional sport: lacrosse. Historically popular in East Coast colleges and prep schools – with a strong Canadian presence – these days, the Premier Lacrosse League is hoping to broaden its appeal to anyone looking for something other than baseball to watch during the summer. On today’s episode, Philadelphia Waterdogs players Jake Carraway and Ryan Conrad on what it's like to juggle working on Wall Street during the week and playing lacrosse on the weekends and PLL founder Paul Rabil on his ambitious plans to emulate the success of the UFC. And host David Gura and Bloomberg reporter Bailey Lipschultz discuss what PLL’s story can tell us about other efforts to turn sports like cornhole and pickleball into big-money professional leagues. Read more: Wall Street Bankers Skip Hamptons Summer for Pro Lacrosse LeagueSee omnystudio.com/listener for privacy information.

As the $4.3 trillion hedge fund industry has boomed and competition for talent has intensified, firms are turning to a new strategy to get ahead: in-house boot camps. The goal is to mold promising new hires into future superstar traders.Today on the show, Bloomberg’s Nishant Kumar joins host Sarah Holder to discuss what goes on inside these training programs — and what their rise means for the future of the industry.Read more: Hedge Fund Talent Schools Are Looking for the Perfect TraderSee omnystudio.com/listener for privacy information.

France’s President Emmanuel Macron shocked the world and sent tremors through global stock markets last week with his decision to call a snap election. The move was prompted by a stronger-than-expected showing by Marine Le Pen’s far-right National Rally party in European Union elections. Now, EU politicians are worried about the potential of another Brexit-style crisis that could plunge the continent’s second-largest economy into gridlock. On today’s podcast, host David Gura speaks to Bloomberg Opinion columnist Lionel Laurent about what’s behind the strength of the far-right not just in France, but across the EU – and what this rightward shift means for relations between Europe and the US in a pivotal election year. Further Listening: To find out what the rise of the far-right means for the left in Europe, check out the latest episode of the Bloomberg series Voternomics, “How the Left Lost Its Way in Europe” on Apple Podcasts, Spotify or wherever you get your podcasts.See omnystudio.com/listener for privacy information.

Indonesia’s nickel business is booming. The metal is a key component in electric car batteries, but its success has a dark side: the country’s nickel mines and processing plants have a history of fatal accidents, with workers being run over by forklifts and burnt to death in smelter fires. Today on The Big Take Asia, host Janet Paskin speaks with Bloomberg Businessweek editor Matt Campbell about his investigation into the mines. He found that nickel sourced from these plants are present in the supply chain that feeds virtually every major seller of EVs, and is an indispensable part of the car industry’s green revolution.See omnystudio.com/listener for privacy information.

Have you had the flu recently? Or RSV? Or just … some bug that you can’t quite shake? If so – you’re not alone. Bloomberg’s data team recently decided to investigate whether or not the perception that we’re all getting sick all the time is actually backed up by numbers. And what they found was truly surprising: in countries around the world, people are getting much sicker, much more often in the wake of the pandemic. On today’s episode, host Sarah Holder and Bloomberg data reporter Jinshan Hong try to solve this global health mystery – including the potential culprits behind the surge in sickness and what we can do to avoid getting ill so often. Read more: Yes, Everyone Really Is Sick a Lot More Often After CovidSee omnystudio.com/listener for privacy information.

For over a decade, America’s central bank has had an inflation target of 2%. On Wednesday, the Federal Reserve announced that it would keep its main interest rate unchanged in order to try and get inflation to that magic number. But what if the Fed is thinking about inflation all wrong? On today’s episode, host David Gura talks to Bloomberg’s Managing Editor for US economic policy Kate Davidson about the reasons the Fed introduced an inflation target in the first place, and Bloomberg Opinion columnist Mohamed El-Erian about the risks if the Fed is wrong about this – and who could be hurt the most.See omnystudio.com/listener for privacy information.

Reports of alleged imposters are cropping up more and more in the family office frenzy in Singapore and Hong Kong. The ultra wealthy use family offices to manage their finances and affairs. Today on The Big Take Asia, host K. Oanh Ha speaks with Bloomberg investing reporter David Ramli about the secretive nature of the family office industry and why scammers are so hard to spot. Plus, she hears from Medway Investment board director Eric SayWei Neo about how people like him are becoming amateur detectives to try to weed out suspected imposters.See omnystudio.com/listener for privacy information.

One factory making pain and fever medications for children used contaminated water. Another made drugs for kids that were too potent. A third made nasal sprays for babies on the same machines it used to produce pesticides. A new Bloomberg investigation reveals that big pharmacy chains have used cheaper, independent factories with a history of manufacturing violations to make store-brand drugs that compete with the likes of Motrin and Tums. Today on the podcast, host David Gura speaks with national health care reporter Anna Edney about her new research into the factories making tainted drugs. She reveals that one pharmacy chain has had nearly double the recalls of its closest competitor – and the loophole that shielded all of these pharmacy chains from liability. Read more: Dozens of CVS Generic Drug Recalls Expose Link to Tainted FactoriesSee omnystudio.com/listener for privacy information.

As Ukraine’s war against Russia drags on, the country has found itself engaged in the kind of trench warfare that once seemed unthinkable in the modern age. This kind of warfare requires very old battlefield technology — and its tearing through the US’s stockpile. Today on the show, host David Gura speaks with Bloomberg reporters Billy House and Roxana Tiron about the World War II-era factories in America ramping up production to meet Ukraine’s ammunition needs. And he hears from Ukrainian Sergeant Andrii Shadrin about how this shortage is playing out on the frontlines.See omnystudio.com/listener for privacy information.

The CEO of OpenAI, Sam Altman, has become one of the most prominent leaders in the development of artificial intelligence. But some people – including current and former OpenAI employees – have questioned how trustworthy Altman is, and whether he is doing enough to inform the public about the technology. On today’s show, Host David Gura is joined by Ellen Huet, host of Bloomberg Technology’s podcast Foundering: The OpenAI Story. Huet spent months talking to people who know Altman, including some of the world’s biggest investors, his mentors and even his sister. Bloomberg.com subscribers can listen to the entire series of Foundering right now. Connect your subscription to Apple Podcasts for early access.See omnystudio.com/listener for privacy information.

Narendra Modi’s Bharatiya Janata Party lost its majority in India’s parliament. The stunning blow is forcing Modi to rely on allies to form a government for the first time since he stormed to power a decade ago. On today’s episode of The Big Take Asia, host K. Oanh Ha digs into India’s 2024 general election results with Bloomberg reporter Sudhi Ranjan Sen on the ground in New Delhi. And Milan Vaishnav, senior fellow and director of the South Asia Program at the Carnegie Endowment for International Peace, delves into what the results mean for both India and the world. Read more: India Election ResultsTo hear more from Milan Vaishnav listen to his podcast, Grand Tamasha.To hear more about our coverage of Narendra Modi, listen to our series, The Rise of Modi. See omnystudio.com/listener for privacy information.