Big Take

Shares of Novo Nordisk were down Thursday morning after Hims & Hers introduced a compounded version of its Wegovy pill. The dip came two days after Novo predicted its sales could drop as much as 13% this year as the company factors in competition from generic drugs that could crop up as its patents expire around the world. On today’s Big Take podcast, Bloomberg reporters Naomi Kresge and Amber Tong talk to host David Gura about the year ahead for weight-loss drugs, from compounded products cutting into leading companies’ market share to generics that could upend the market globally. Read more: Generic Ozempic Makers Are Coming to Upend the Obesity Market Further listening:  Welcome To Ozempictown, USA (No, It’s Not Hollywood) Cheap Ozempic Copycats Are Everywhere. Are They Safe? Hosted by David Gura; Produced by David Fox and Rachael Lewis-Krisky; Reported by Amber Tong and Naomi Kresge; 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.

AI anxiety is coursing through the stock market right now. From Tuesday’s global selloff in software and technology stocks to last week’s $381 billion Microsoft rout, investors are skittish over any sign of an AI bubble. On today’s Big Take podcast, Bloomberg Big Tech editor Sarah Frier joins host Sarah Holder to discuss the coming AI reckoning and why pressure is building on tech companies to prove all their AI investments will pay off big — and soon.   Hosted by Sarah Holder; Produced by David Fox; Reported by Sarah Frier; Edited by Tracey Samuelson. Fact-checking by Rachael Lewis-Krisky and Eleanor Harrison-Dengate; Engineering by Katie McMurran and Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.See omnystudio.com/listener for privacy information.

Four years after Thailand became the first country in Asia to decriminalize cannabis, its booming market is at a crossroads. Initial high hopes for a tourism surge and a billion-dollar industry have been replaced by an oversupply of shops and a fierce public backlash. On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Patpicha Tanakasempipat about what went wrong and whether the industry can weather a political firestorm. Read more: Weed Backlash Grows in Thailand as Kids Turn to CannabisHosted by K. Oanh Ha; Produced by Yang Yang, Naomi Ng; Reported by Patpicha Tanakasempipat; Edited by Paddy Hirsch, Julia Weaver Fact-checking by Eleanor Harrison-Dengate; Engineering by Taka Yasuzawa Senior Producer Naomi Shavin; Deputy Executive Producer Julia Weaver; Executive Producer Nicole BeemsterboerSee omnystudio.com/listener for privacy information.

The Department of Justice released another batch of documents from the so-called Epstein Files on Friday. It brings the total number of pages the DOJ has made public since December to nearly 3.5 million. On today’s Big Take, host David Gura is joined by Bloomberg investigative reporter and podcast host Jason Leopold to discuss what was and wasn’t in the latest document release — and what we’ve learned about Epstein and his business connections. Further listening:  Jason’s Disclosure podcast What to Expect in the DOJ Epstein Files Release Hosted by David Gura; Produced by Julia Press; Reported by Jason Leopold; Edited by Jeff Grocott. Fact-checking by David Fox 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.

In the AI industry, there's always a hot new thing. First it was ChatGPT. Then it was the image generators. There was the DeepSeek moment. In the latter half of last year, everyone was excited about how good Google's Gemini was. In January 2026, the new hot thing everyone is talking about is Claude Code. But of course, the AI models have been able to generate lines of code for a long time now. So what is it about Claude Code that has people so excited? Why is it that people are asking: "Is this AGI?" On this episode of Bloomberg's Odd Lots, hosts Joe Weisenthal and Tracy Alloway speak with Noah Brier, the co-founder of Alpehic, a consultancy firm that helps large organizations implement AI technology. Noah has been using the Large Language Models for longer than just about anyone, since even before ChatGPT existed. He explains the evolution of AI-assisted coding, what Claude Code actually is, and why it is that traditional software firms have been getting destroyed in the stock market lately. Read more:Meta Begins Job Cuts as It Shifts From Metaverse to AI DevicesAI Coding Startup Replit Nears Funding at $9 Billion Valuation Only http://Bloomberg.com 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/oddlotsSee omnystudio.com/listener for privacy information.

After months of speculation and a publicized selection process befitting The Apprentice, President Trump has announced his pick to lead the Federal Reserve: former Fed Governor Kevin Warsh. Historically a monetary policy hawk, the now dovish Warsh is expected to align more closely with President Trump’s views on inflation and rate decisions. On today’s Big Take podcast, host Sarah Holder sits down with Bloomberg Fed reporters Amara Omeokwe and Saleha Mohsin to discuss Warsh’s nomination, the early reactions we’ve seen from Wall Street and Washington, and what his past record and recent evolution signal about how he may handle interest rates and an ongoing battle over Fed independence. Hosted by Sarah Holder; Produced by David Fox; Reported by Amara Omeokwe, Saleha Mohsin; Edited by Naomi Shavin. 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.

The US Senate failed to advance a government spending package on Thursday, setting up for a partial government shutdown. At the center of the debate is funding for the Department of Homeland Security. In the wake of federal agents killing two US citizens in Minnesota, the spending package has become the latest flashpoint in the fight over ICE’s deployment in American cities. On today’s Big Take podcast, host Sarah Holder and Bloomberg reporters Steven Dennis and Alicia Diaz track the fight playing out in Washington as tensions continue to flare in Minnesota. Read more:  Trump, Democrats Make Some Progress in Talks to Avert Shutdown Trump, Democrats Hurtle Toward Shutdown After Minnesota Killing Republicans Divided After Latest Shooting by Federal Agents Key Democrat Visits Minneapolis, Applauds ‘Courageous Movement’  Further listening:  Minnesota v. ICE Inside ICE’s Plan to Build Detention ‘Mega Centers’ Hosted by Sarah Holder; Produced by Julia Press; Reported by Steven Dennis and Alicia Diaz; Edited by Aaron Edwards; Fact-checking by Rachael 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.

Not long ago, markets would have lurched if a president threatened to impose tariffs, attack a foreign nation or compromise Federal Reserve independence. Since Donald Trump’s return to office, though, traders have been buying on these threats and cashing in when they don’t come to pass.On today’s episode of the Big Take, Bloomberg Opinion’s John Authers and columnist Robert Armstrong of the Financial Times – who coined ‘Trump Always Chickens Out’ – join host David Gura to discuss the latest TACO trading statistics and what happens when financial markets have muted reactions to White House headlines. Hosted by David Gura; Produced by David Fox; Reported by John Authers and Robert Armstrong; Edited by Jeffrey Grocott. Fact-checking by Eleanor Harrison-Dengate 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.

From sinking Treasuries to global selloffs, the turmoil in Japan’s bond market is being felt far beyond its borders.  On today’s Big Take Asia Podcast, host K. Oanh Ha sits down with Bloomberg’s Ruth Carson to unpack what’s rattled international investors and why markets are still on tenterhooks. Read more: Japan Bond Crash Unleashes a $7 Trillion Risk for Global Markets Further listening: The Dollar’s Dominance Is Unwinding in Asia Carry Trades, Explained Hosted by K. Oanh Ha; Produced by: Naomi Ng, Yang Yang; Reported by Ruth Carson; Edited by Paddy Hirsch, Julia Weaver;  Fact-checking by Eleanor Harrison-Dengate; Engineering by Taka Yasuzawa; Senior Producer Naomi Shavin; Deputy Executive Producer Julia Weaver; Executive Producer Nicole BeemsterboerSee omnystudio.com/listener for privacy information.

From his ambitions to acquire Greenland to his retracted (for now) threats of tariffs on European countries that oppose him, President Donald Trump continues to alienate the EU’s member states. But they’re aligned on one thing: The continent needs to be ready to stand on its own, and fast. On today’s Big Take podcast, host David Gura and Bloomberg Brussels bureau chief Suzanne Lynch recap the outcomes of an emergency summit of EU leaders last Thursday, the toolkit at their disposal to push back and the routes ahead for Europe in a shifting world order. Read more: Shellshocked EU Rethinks US Relationship After Trump Threat Further listening: Trump Takes Europe to the Brink on Greenland Hosted by David Gura; Produced by David Fox; Reported by Suzanne Lynch; 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.

Japan is home to the world’s oldest population and a growing share of the country’s financial assets – about $2 trillion – are controlled by seniors who are showing signs of cognitive decline. On today’s Big Take Asia podcast, host K. Oanh Ha talks with Bloomberg’s Alice French about the staggering “dementia money” at risk, the toll of frozen accounts and the haphazard solutions that serve as a stark warning to the rest of the world.  Read more: Japan's 'Dementia Money' Problem Puts Trillions at Risk - Bloomberg Further listening: The Rise of Japan’s ‘Iron Lady’ and Its Political Shift to the Right Hosted by Produced by Naomi Ng, Eleanor Harrison-Dengate; Reported by Alice French, Kentaro Tsutsumi; Edited by Patrich Hirsch, Emma O’Brien; Fact-checking by Yang Yang, Eleanor Harrison-Dengate; Engineering by Taka Yasuzawa Senior Producer: Naomi Shavin Deputy Executive Producer: Julia Weaver Executive Producer: Nicole BeemsterboerSee omnystudio.com/listener for privacy information.

President Trump has revived a campaign pledge to cap credit card interest rates at 10%. It’s an effort to address affordability concerns among American consumers and help borrowers. But the banking industry is not thrilled about the idea – and says the proposal could block some people from accessing credit at all. On today’s Big Take podcast, Bloomberg finance reporter Claire Ballentine joins host Sarah Holder to break down the arguments and talk through what it would take to make the proposal a reality. Read more: Trump’s Call for 10% Credit-Card Cap Aims at Banks’ Crown Jewels Further listening: How World Leaders – and Markets – Are Reacting to Trump’s Davos Speech  Hosted by Sarah Holder; Produced by Julia Press and Rachael Lewis-Krisky; Reported by Claire Ballentine; Edited by Tracey Samuelson; 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.

Across the ideological spectrum, Supreme Court justices appeared wary of President Trump’s attempts to fire Federal Reserve Board Governor Lisa Cook in a hearing on Wednesday. Their ruling, which is set to come by July, could set a crucial precedent for the executive branch’s influence over the central bank. On today’s Big Take podcast, Bloomberg reporters Amara Omeokwe and Greg Stohr break down arguments from both sides of the case, analyze key reactions from justices on the bench and make sense of how the outcome could impact the economy and public confidence in the Fed. Read more: Supreme Court Appears Wary of Trump Bid to Fire Fed’s Lisa Cook Further listening: Why Trump Is Trying to Fire Lisa Cook Hosted by Sarah Holder; Produced by Julia Press; Reported by Amara Omeokwe and Greg Stohr; 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.

In an unprecedented speech at the World Economic Forum in Davos, Switzerland, President Donald Trump ruled out taking Greenland by military force, but made his case for the US purchasing what he described as a “large piece of ice” — and vowed to “remember” if he didn’t get his way. On today’s Big Take podcast, executive editor Flavia Krause-Jackson joins host David Gura to recap Trump’s stunning speech, the swift reaction from his peers and NATO allies and what, ultimately, could come next.Hosted by David Gura; Produced by David Fox; Reported by Flavia Krause-Jackson; Edited by Jeffrey Grocott. Fact-checking by Rachael Lewis-Krisky; Engineering by Alex Sigura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

ICE has been open about its aggressive detention and deportation targets. And now, the agency has its sights set on a new kind of facility to house the people it arrests: converted warehouses that could detain 5,000 or more people. On today’s Big Take podcast, Bloomberg reporters Fola Akinnibi and Sophie Alexander take host Sarah Holder inside their team’s reporting on the agency’s latest push to expand its detention capacity, the lucrative government contracts that companies are vying for and mounting concerns around safety for detainees. Read more:  ICE Plans Detention Expansion With Deal to Design ‘Mega Centers’ Companies With No Detention Experience Want to Run Trump’s ICE Camps Further listening: Why Small Towns Are Hooked on ICE Detention Hosted by Sarah Holder; Produced by Julia Press; Reported by Sophie Alexander and Fola Akinnibi; Edited by Aaron Edwards; Fact-checking by Rachael Lewis-Krisky 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.

This week marks the end of President Trump’s first year back in office. His busy economic agenda included global tariffs, deregulation, tax cuts and so much more. The deep and dramatic changes the Trump administration proposed and imposed have fundamentally changed the way the US does business. On today’s Big Take podcast, host David Gura and Bloomberg’s Nancy Cook and Mark Niquette discuss which initiatives have had the biggest impact so far and which are likely to last. Hosted by David Gura; Produced by Julia Press; Reported by Nancy Cook and Mark Niquette; Edited by Tracey Samuelson and Patrick Hirsch; 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.

For Beijing, the US capture of Venezuelan President Nicolás Maduro was a mixed bag -- an embarrassing surprise, a wake-up call over its alliances in Latin America and an opening to step up on the world stage, according to Nicholas Burns, the former US ambassador to China. On today’s Big Take, host David Gura and Ambassador Burns discuss how President Donald Trump’s military actions and threats are reshaping China’s relationships across the Pacific and the Taiwan Strait—and how the so-called “Donroe Doctrine” could ultimately hand China a global edge. Read more: How Maduro’s Removal Could Help China in Venezuela and Latin America Hosted by David Gura; Produced by Rachael Lewis-Krisky; Edited by Jeffrey Grocott. Fact-checking by Yang Yang and 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.

Since the 2008 financial crisis, private equity firms and other large investors have bought hundreds of thousands of homes across the US, expanding their footprint in the American real estate market. But President Trump blindsided the industry with a Truth Social post last week, announcing he would push for a ban on Wall Street investors scooping up single-family homes. On today’s Big Take podcast, Bloomberg real estate reporter Patrick Clark and Bloomberg CityLab reporter Kriston Capps join host Sarah Holder to explain how big investors got a slice of the US housing market and whether pushing them out would actually put a dent in the country’s affordability crisis. Editor's Note: Updated to remove reference to Pretium comment. Read more:  Trump Bid to Ban Corporate Homebuying Blindsides Wall Street Trump Targets Institutional Investors in Affordable Housing Push Wall Street Homebuyers Plan Counter-Offer After Trump Threat Hosted by Sarah Holder; Produced by Julia Press; Reported by Patrick Clark and Kriston Capps; Edited by Aaron Edwards; Fact-checking by David Fox and Rachael Lewis-Krisky; Engineering by Alex Sugiura; Senior Producer Naomi Shavin; Deputy Executive Producer Julia Weaver; Executive Producer Nicole BeemsterboerSee omnystudio.com/listener for privacy information.

Weeks of protests in Iran started over the high price of food and essential goods. They quickly engulfed the nation and, before long, were met with deadly force by the Iranian regime’s security forces.  The violent crackdown has drawn international condemnation and President Trump has offered protestors his support.  On today’s Big Take podcast, host David Gura and International Crisis Group’s Iran Project Director Ali Vaez discuss how we got here, the existential threats facing the Iranian regime and what could come next if it falls.   See omnystudio.com/listener for privacy information.

This week, following the deadly shooting of Renée Good by an ICE agent in Minneapolis, the state of Minnesota sued the federal government in a bid to kick out thousands of Immigration and Customs Enforcement agents. On today’s Big Take podcast, Sarah Holder is joined by Bloomberg immigration reporter Alicia Caldwell and the National Immigration Law Center’s Efrén Olivares to discuss how a rapid evolution under President Trump has reshaped ICE — and how states are responding to unprecedented waves of federal enforcers.See omnystudio.com/listener for privacy information.

On Sunday night, Federal Reserve Chair Jerome Powell announced that the US Department of Justice had served the Fed with grand jury subpoenas threatening a criminal indictment over a costly renovation of the central bank’s building. It was a watershed moment in the escalating tension between the Trump administration and the US central bank.  On today’s Big Take podcast, host David Gura sits down with Fed reporters Amara Omeokwe and Enda Curran to discuss what this means for one of the most important financial institutions in the world, for Powell, for the White House — and where things could go from here.  Read more:  Fed Served With DOJ Subpoenas; Powell Vows to Stand Firm  Former Fed Chairs, Treasury Secretaries Condemn Powell Probe Trump Faces Fed Roadblock as Republicans Blast Justice Probe Hosted by David Gura; Produced by Rachael Lewis-Krisky; Reported by Amara Omeokwe and Enda Curran; Edited by Naomi Shavin. Fact-checking by David Fox 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.

After the Trump Administration’s strike on Venezuela and the arrest of President Nicolás Maduro, there’s one word on everyone’s mind: oil. President Trump has big plans for the country’s vast reserves, which today account for just 1% percent of global production. On today’s Big Take podcast, host David Gura and Bloomberg Opinion’s Javier Blas talk through the Trump Administration’s gamble on Venezuela’s oil, how the president plans to convince the energy industry to invest in the country’s aging infrastructure, and why its resources are key to the administration’s plans at home and abroad.  Read more: Forget the Naysayers, Venezuela Offers Quick Oil Wins  Listen more: Oil Prices Could Get Cheaper Despite Venezuela Blockade Hosted by David Gura; Produced by Rachael Lewis-Krisky; Reported by Javier Blas; Edited by Paddy Hirsch and Simon Casey. 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.

Within days of the US raid on Venezuela, President Donald Trump and his administration turned their attention to Greenland, renewing European fears that the US would try to take territory belonging to its longtime NATO ally, Denmark. On today’s Big Take podcast, Bloomberg’s Sanne Wass in Denmark and Joe Deaux, who covers Greenland, join host Sarah Holder to discuss what days of escalating rhetoric around the strategically located Arctic island could mean for Denmark, Russia and the future of NATO. See omnystudio.com/listener for privacy information.

The US House of Representatives will vote today on whether to extend subsidies for the Affordable Care Act that bring down health care costs for millions of Americans.  The subsidies expired at the end of December, and lawmakers returned to Capitol Hill after their winter break just as divided over the issue as they were before the holidays.  On today’s Big Take podcast, Bloomberg Congress reporter Caitlin Reilly joins host David Gura to discuss the sticking points between Republicans and Democrats and where that stalemate leaves Americans who rely on ACA subsidies in the final weeks of open enrollment. Read more: House Backs Renewing Health Subsidies, Defying Republican Leaders Hosted by David Gura Produced by Julia Press Reported by Caitlin Reilly Edited by Tracey Samuelson Fact-checking by Eleanor Harrison-Dengate Engineering by Alex SugiuraSenior Producer: Naomi Shavin Deputy Executive Producer: Julia Weaver Executive Producer: Nicole BeemsterboerSee omnystudio.com/listener for privacy information.

The US strike on Venezuela and capture of President Nicolás Maduro sent shockwaves across the globe — particularly in China, Venezuela’s top crude buyer and creditor. On today’s Big Take Asia Podcast, Bloomberg’s Jenni Marsh and host K. Oanh Ha talk through what the intervention means for China’s strategic ties and oil supplies and how the military strike could change Beijing’s stance toward Taiwan. Read more: Xi Faces Higher Costs in Taiwan Than Trump Does in Venezuela Further listening: How the Fall of Maduro Could Echo Around the World Hosted by K. Oanh Ha; Produced by Naomi Ng, Eleanor Harrison-Dengate, Rachael Lewis-Krisky; Reported by Jenni Marsh; Edited by Jeff Grocott, Emma O’Brien, Daniel Ten Kate, John Liu. 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.

President Trump announced early Saturday morning that the United States had carried out a strike against Venezuela and captured its president, Nicolás Maduro, and his wife. The pair was taken to the US where they face terrorism- and drug trafficking-related charges.A few hours later, Trump announced that the US would be administering the country of Venezuela until there could be a “safe, proper, and judicious transition.”On today’s Big Take podcast, Bloomberg’s Nathan Hager sits down with Latin America regional editor Crayton Harrison to talk about the situation on the ground following the strike and what’s at stake for the people of Venezuela, its neighbors in the region and the global economy.See omnystudio.com/listener for privacy information.

Every year, Wall Street’s top minds — strategists, economists and portfolio managers — pack their best ideas into dense market outlooks, often running a hundred or more pages apiece. And every year, Bloomberg senior markets editor Sam Potter distills those outlooks to capture the consensus and identify who’s breaking from the pack.On today’s Big Take podcast, Sam  joins host David Gura to discuss Wall Street’s year ahead: from AI’s continued dominance and the prospects for gold and bonds to Wall Street’s evolving appetite for risk and what analysts say to watch for in 2026. Hosted by: David Gura Produced by: David Fox Reported By: Sam Potter Edited by: Jeff Grocott; Fact-checking by: Naomi Ng; Engineering by: Katie McMurran Senior Producer: Naomi Shavin Senior Editor: Elisabeth Ponsot Deputy Executive Producer: Julia Weaver Executive Producer: Nicole BeemsterboerSee omnystudio.com/listener for privacy information.

Tired Americans are increasingly willing to pay a premium for items or services that save time or ease their fatigue: a laundry machine that both washes and dries, a grocery delivery service that puts the groceries away for them, a high-tech closet that steams their clothes. On today’s Big Take podcast, Bloomberg retail reporter Jaewon Kang and Wharton professor Gal Smitizsky discuss why a growing number of American consumers are willing to spend more to save time, even in today’s uncertain economy – and how companies are taking notice.  Read more: The ‘Adulting’ Tax: Tired Americans Are Willing to Pay to Save Time Hosted by: Sarah Holder; Produced by: Eleanor Harrison-Dengate with assistance from Dina Katgara and Julia Press; Reported by: Jaewon Kang; Edited by: Jeff Grocott and Tracey Samuelson; Fact-checking by: 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.

China started 2025 with deflation, a property crisis and fears of a “lost decade” damping sentiment. By year’s end, it had stunned the world with an AI breakthrough, a trillion-dollar trade surplus and rare earth dominance. On today’s Big Take Asia Podcast, host K. Oanh Ha talks with Bloomberg Executive Editor John Liu and Bloomberg Opinion’s Shuli Ren about how China navigated Trump’s tariff war, revived investor confidence and what risks could derail its momentum in 2026. Read more: Repeat After Me: Never, Ever Underestimate ChinaXi’s Triumphant Year Staring Down Trump Belies Woes in China Hosted by: K. Oanh Ha; Produced by: Naomi Ng and Yang Yang; Reported by: Shuli Ren and John Liu; Edited by: Paddy Hirsch; Fact-checking by: 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.

Chinese tech companies Huawei and DeepSeek are teaming up to offer cloud computing and AI services. And they’re pitching African startups on using their offerings over Western competitors like OpenAI in a bid to get an early foothold in the African tech scene. In a special episode from Bloomberg’s Big Take and Next Africa podcasts, reporters Loni Prinsloo and Helen Nyambura join hosts Sarah Holder and Jennifer Zabasajja to describe the pitch, how it’s landing and what it could mean for the global AI race. Read more: China's DeepSeek Is Beating Out OpenAI and Google in AfricaSee omnystudio.com/listener for privacy information.

Since the start of his second term, US President Donald Trump has imposed sweeping tariffs – especially on China, where most toys are made.  On today’s Big Take Asia Podcast, host Oanh Ha talks with Rick Woldenberg, CEO of fourth‑generation toymaker Learning Resources, about his company’s battle against tariffs in stores and in court – and what it reveals about the true cost of America’s trade war. Read more: Cutting Ties With China Is Harder Than Companies Expected Tariffs Unravel India’s Dream of Challenging China in Toymaking Further listening: An American Toymaker Struggles to Break Up With China India Wanted to Become The World’s Toymaker. Then Tariffs HappenedSee omnystudio.com/listener for privacy information.

The US-China trade war has upended global manufacturing, forcing companies like Chicago-based Learning Resources to fundamentally change how and where its products are made, even as it challenges the tariffs in court. On today’s Big Take Asia podcast, K. Oanh Ha heads to India, where the toymaker has begun shifting production of its popular children’s toys. We examine how the company is managing the complex shift from China – where its toys have been made for decades, what the factory boom means for communities on the ground in India and how all of this will impact toy prices. Further listening: The American Toymaker Suing Trump Over Destructive TariffsSee omnystudio.com/listener for privacy information.

President Trump’s trade threw American businesses, which source everything from aircraft parts to baby strollers from China, into chaos. Over this year, some companies challenged the president’s tariffs in court — including Illinois-based toymaker Learning Resources, whose case is now before the Supreme Court.  On today’s Big Take Asia Podcast, host K. Oanh Ha is joined by Rick Woldenberg, CEO of Learning Resources, and Bloomberg’s Lucille Liu, to talk about the impact of the trade war on US importers and Chinese manufacturers – and what it ultimately means for American consumers. Read more: Chinese Toymaker Takes Drastic Action to Survive Trump’s TariffsSee omnystudio.com/listener for privacy information.

This month, the think-tank the Groundwork Collaborative, Consumer Reports and the news nonprofit More Perfect Union released a report finding that Instacart had been using an AI tool to run algorithmic price experiments on shoppers around the country. As a result, shoppers were being charged different prices for the exact same items from the exact same stores. At a time when inflation has driven grocery costs higher, the revelation that Instacart was charging some consumers more for the same goods struck a chord. On today’s Big Take podcast, host Sarah Holder speaks with Bloomberg’s antitrust reporter Leah Nylen and the Groundwork Collaborative executive director Lindsay Owens about the report’s findings and impact — and Instacart’s decision to end their experiment. Read more: Instacart to Pay $60 Million to Settle FTC Consumer Protection Case Hosted by: Sarah Holder; Produced by: Rachael Lewis-Krisky; Reported by: Leah Nylen; Edited by: Naomi Shavin and Aaron Edwards; Fact-checking by: 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.

From OPEC powerhouses and US shale producers to countries like Guyana, global producers are drilling more oil and driving down prices. And with the potential for a ceasefire in Russia and pressure on Maduro in Venezuela, even more oil could flood the market in 2026. On today’s Big Take podcast, host David Gura sits down with Bloomberg oil trading reporter Alex Longley and Opinion columnist Javier Blas to discuss the forces driving the oil market right now, how they’re impacting different countries and why even lower prices could be on the way. Read more: The World Is Awash With Oil and Prices Are Poised to Keep Falling Hosted by: David Gura Produced by: Julia Press Reported by: Alex Longley and Javier Blas Edited by: Jeff Grocott Fact-checking by: Rachael Lewis-Krisky and David Fox Engineering by: Katie McMurran Senior Producer: Naomi Shavin Deputy Executive Producer: Julia Weaver Executive Producer: Nicole BeemsterboerSee omnystudio.com/listener for privacy information.

Lynsey Addario’s life work means  taking great risks to tell other people’s stories. She is a Pulitzer Prize winning war photographer who has been abducted twice while documenting conflicts from Afghanistan to Ukraine and Sudan.There aren’t many women in her field. In a new National Geographic documentary called “Love+War,” currently streaming on Disney+, she lets us into that world, one she’s made her profession for three decades. Addario shows how she adjusts from a work environment of grave danger and high-adrenaline to being a mother making the school run and spending time with her sons.In this conversation, she tells Mishal Husain, why she believes her job is to “bear witness” and how she came to it. She remembers the first time she used a camera and shares how her childhood prepared her to walk into any situation and connect with anyone, from soldiers to refugees and civilians living through extreme times.This interview contains descriptions of abduction, violence and sexual assault which some listeners/viewers may find distressing. 02:27 - Love+War03:34 - The turning point 06:00 - Learning about the risks07:00 “I don’t want to do this for a living”09:19 - Being held in Fallujah11:20 - On embed in Afghanistan 14:31 - Operation Rock Avalanche15:43 - Dealing with the emotion16:50 - The daughter of hairdressers in Connecticut17:44 - Getting her first camera19:30 - Planning a “shoot-list” 21:51 - Russian strike on Ukraine17:30 - Being held hostage in Libya31:02 - Survivor’s guilt33:30 Life at home36:30 - Social media and fake images 40:18 - Switching offWatch this podcast here: https://www.youtube.com/playlist?list=PLe4PRejZgr0Ns_wjGlmjlPz0cded0nTYS You can find the written version of this interview with Mishal’s notes on Bloomberg Weekend: https://www.bloomberg.com/latest/weekend-interviewSee omnystudio.com/listener for privacy information.

As AI-generated images ping pong around the internet, the Walt Disney Company has been mostly playing defense, using litigation to protect its intellectual property. But last week, Disney announced a $1 billion deal with OpenAI, licensing more than 200 of its iconic Disney characters for use on OpenAI’s video platform, Sora. On today’s Big Take podcast, host Sarah Holder talks with Bloomberg tech reporter Shirin Ghaffary and entertainment reporter Thomas Buckley about the terms of the deal, the opportunities and risks for each side and whether it might spur other similar partnerships.  Read more: OpenAI Deal to License Disney Characters Is Entirely in Stock Hosted by: Sarah Holder; Produced by: Rachael Lewis-Krisky; Reported by: Shirin Ghaffary and Thomas Buckley; Edited by: Tracey Samuelson; Fact-checking by: Naomi Ng and 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 trucking industry has long been dominated by older white men. But as those truckers steer toward retirement, who will replace them?  On today’s Big Take podcast, host Sarah Holder hits the road with Bloomberg’s Jaewon Kang, who’s been exploring how one company is trying to transform its trucking workforce. And we hear from MIT’s Chris Caplice, DAT Freight and Analytics’ Dean Croke and two Walmart truckers about what’s working for the industry and the challenges it faces on the road ahead. Read more: Walmart’s $115,000 Starting Pay and Better Rigs Draw Women to Trucking Hosted by Sarah Holder Produced by Julia Press Reported by Jaewon Kang Edited by Tracey Samuelson Fact-checking by Rachael Lewis-Krisky Engineering by Katie McMurran Senior Producer: Naomi Shavin Deputy Executive Producer: Julia Weaver Executive Producer: Nicole BeemsterboerSee omnystudio.com/listener for privacy information.

Treating cancer is a massive business. In 2024 alone, cancer treatments generated at least $200 billion in worldwide sales for the pharmaceutical industry, more than the obesity drug rush. But a Bloomberg News analysis showed that fewer than half of treatments reviewed — some of which have painful side effects — have been shown to extend patients’ lives. On today’s Big Take podcast, Bloomberg senior healthcare reporter Robert Langreth takes host David Gura inside what some doctors call the “cancer-industrial complex” — from the regulatory landscape that ushered in a wave of lucrative new drugs to the damaging financial and health impacts some treatments can have on patients. Read more: Cancer Drugs Cost More Than Ever. They Often Don’t Extend Lives. The Implants Were Supposed to Dissolve. They Didn’t. Pharma Is Pushing $200,000 Cancer Drugs When Cheaper Doses May Work Cancer Doctors Are Making a Fortune Off Drug-Trial Participants One Generic Cancer Drug Costs $35. Or $134. Or $13,000.See omnystudio.com/listener for privacy information.

The Philippines is no stranger to typhoons, but this year’s storms exposed something far uglier: a vast corruption scandal. On today’s Big Take Asia Podcast, host K. Oanh Ha speaks to Bloomberg’s Andreo Calonzo and Rosalind Mathieson about how billions of dollars earmarked for flood control vanished and what the crisis means for the country’s political and economic stability.See omnystudio.com/listener for privacy information.

All year, the jobs market, consumer sentiment, AI and inflation flashed warning signs about the economy — but 2025 managed to avoid a recession. On today’s Big Take podcast, host Sarah Holder talks with Bloomberg’s Stacey Vanek Smith and Moody’s Analytics Mark Zandi to understand what this year’s wonky economy can tell us as we head into 2026 and what to watch for in the new year. Read more: US Recession Risk Is Receding as We Move Into 2026See omnystudio.com/listener for privacy information.

Depending on who you talk to, AI is the key to remaking industries and jobs – or a bubble ripe to pop. And if you’re an investor, you’re already exposed. So what’s the best strategy for investing in AI now? On today’s Big Take podcast, host Sarah Holder and Bloomberg personal finance reporter Suzanne Woolley talk to experts – ARK Invest’s Cathie Wood, Fidelity International’s Taosha Wang, Allspring Global Investments’ Michael Smith and Janus Henderson Investors’ Denny Fish – about coming AI investment waves and potential warning signs. See omnystudio.com/listener for privacy information.

From rising costs to shifting markets, American farmers are struggling to make ends meet. Now, the White House is stepping in. On today’s Big Take podcast, David Gura sits down with Bloomberg agriculture Reporter Erin Ailworth and a fifth-generation farmer to discuss President Trump’s $12 billion farm aid plan. What prompted the move, which sectors will be eligible and how ongoing tensions between the US and China have upended the market for certain crops and shifted how the US exerts its influence overseas. Read more: https://www.bloomberg.com/news/articles/2025-12-08/us-farmers-say-12-billion-bailout-won-t-end-industry-slump See omnystudio.com/listener for privacy information.

On Wednesday, the Federal Open Market Committee cut rates by 25-basis points. It was the scenario a lot of close watchers of the Federal Reserve expected — but what comes after this Fed Meeting is an open question. With President Trump poised to name Chair Jerome Powell’s replacement by early 2026, both markets and the Federal Reserve itself could start to look to Trump’s nominee for guidance. Kevin Hassett has emerged as the front-runner for the role, who currently serves as director on Trump’s Council of Economic Advisers. On Today’s Big Take podcast, Bloomberg Economics’ Chief US Economist Anna Wong joins host Sarah Holder to break down the economic impact of the latest rate cut and what the Federal Reserve could look like next year if Hassett is nominated to succeed Powell. Read more: Fed Cuts Rates With Three Dissents, Projects One Cut in 2026See omnystudio.com/listener for privacy information.

The US tariff war with China sent American companies scrambling to find alternative manufacturing hubs. India looked promising until the White House upended everything.  On today’s Big Take Asia podcast, K. Oanh Ha heads to India, where she goes inside two toy factories scrambling to adapt to Washington’s shifting trade policies. How sky-high tariffs are undercutting India’s ambitions to take China’s crown as the world’s factory floor and forcing American manufacturers to make a tough choice.  Read more: Cutting Ties With China Is Harder Than Companies Expected Further listening: An American Toymaker Struggles to Break Up With ChinaThe American Toymaker Suing Trump Over Destructive TariffsSee omnystudio.com/listener for privacy information.

After last month’s passage of the Epstein Files Transparency Act, the US Department of Justice is on the clock to release an enormous cache of documents related to convicted sex trafficker Jeffrey Epstein. So what could be in the files? And what might the government hold back?  On today’s Big Take, host David Gura is joined by Bloomberg investigative reporter Jason Leopold, who specializes in making government documents public and co-hosts Bloomberg’s Disclosure podcast. They talk through how the release could play out and how to parse the files once they’re available. Subscribe to Jason’s FOIA Files newsletter and Disclosure podcastSee omnystudio.com/listener for privacy information.

News broke overnight that Netflix is acquiring Warner Bros. Discovery in a cash-and-stock deal valued at $82.7 billion.  It’s a deal raising eyebrows in the entertainment industry, from Netflix competitors including Paramount — and reportedly even the White House.  On today’s Big Take, host David Gura sits down with Screentime writer and entertainment reporter Lucas Shaw to discuss the ins and outs of the deal, what we know about how it would impact viewers at home, and the regulatory challenges moving forward.See omnystudio.com/listener for privacy information.

Excel. If you work in corporate America, that word either inspires laser-focused productivity or pure dread. Over the last 40 years, the spreadsheet software has become synonymous with the best — and worst — of late-stage capitalism. It’s seeped into popular culture and, along the way, made Microsoft one of the world’s most valuable companies.But in a world of AI and new competition where Excel=Sum(39+1), can it stay on top? On today’s Big Take podcast, Bloomberg’s Dina Bass and Businessweek’s Max Chafkin join host Sarah Holder to track the rise and challenges ahead for one of the most ubiquitous programs around.See omnystudio.com/listener for privacy information.

Back in October, Bitcoin reached a record high. Just a few weeks later, its price had plunged, taking out over $1 trillion dollars in assets along with it. On Tuesday, it rallied. But dips across the crypto market have left investors and analysts wondering what to make of the swings. On today’s Big Take podcast, Bloomberg executive editor stacy-marie ishmael and host David Gura take the temperature of crypto’s dramatic ebbs and flows over the past few months, from President Trump’s second-term moves to bolster the market to fears of another “crypto winter.” Read more:  Bitcoin Jumps Back Above $90,000 After Bruising Selloff What Does Bitcoin’s Drop Mean? Depends on Who You Ask The 26-Minute, 51% Wipeout That Deepened Trumps’ Crypto Woes See omnystudio.com/listener for privacy information.

Hong Kong’s worst fire disaster in decades has stirred up public anger over negligence, safety standards and official accountability. On today’s Big Take Asia podcast, host K. Oanh Ha talks to Bloomberg’s Shawna Kwan and Jenni Marsh about the devastation, the political fallout and how the public outcry is causing unease in Beijing.See omnystudio.com/listener for privacy information.