Here's Why

After a blistering rally in 2025, the price of silver has seen major volatility so far in 2026. While investors are questioning the value of buying gold as a haven trade, silver's strengths and weaknesses are more complex. Our reporter Charlie Wells joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

The war in the Middle East has roiled oil and gas markets. The unrest and price spikes are another argument for why renewable energy like solar and wind — produced at home and insulated from external tensions — is a more secure bet. But experts warn that the picture is more complicated. Our senior climate reporter and host of the 'Zero' podcast, Akshat Rathi, joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

In times of geopolitical turmoil, investors look for somewhere safe to put their money. US President Donald Trump's trade war helped to fuel a record rally for gold in 2025, but the Iran war is pushing investors to shelter in different places. Joe Weisenthal from Bloomberg's Odd Lots podcast joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

After an initial shock, the Iran war is now moving into a more sustained campaign by the US, Israel and the Islamic Republic. The pace of strikes has raised questions about the firepower needed to continue the attacks, and maintain defenses across the Middle East. Becca Wasser, Defense Lead at Bloomberg Economics joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

The United Arab Emirates’ twin hubs of Dubai and Abu Dhabi have transformed themselves into global financial centres built on a bedrock of safety, stability and proximity to deep pools of capital. Bloomberg's Abeer Abu Omar joins Stephen to explain why Iran’s attacks, which saw missiles fired at the emirates, have come as a jarring reminder of their geography.See omnystudio.com/listener for privacy information.

The US Supreme Court's decision to strike down much of President Trump's tariff agenda has left many questioning what happens next. Issues such as refunds, and the legal basis for the President's new tariffs will still need to be resolved. Our Supreme Court reporter Greg Stohr joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

The world's biggest technology companies are expected to spend $4 trillion on artificial intelligence by 2030. To pay for it, they're borrowing hundreds of billion of dollars a year. What does that mean for these companies, and for markets? Bloomberg's Markets Live Strategist Skylar Montgomery Koning joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Since returning to the White House, Donald Trump has directed some of his harshest criticism at America’s closest neighbor: Canada. Tariff threats, talk of making it the 51st state and pointed barbs have prompted the country’s Prime Minister, Mark Carney, to argue for a new approach to global trade and diplomacy. David Gura, host of Bloomberg’s Big Take podcast, joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

The New START treaty served as a barrier against a renewed nuclear arms race between the US and Russia, who together possess almost 90% of the world’s atomic warheads. The accord was the only remaining arms control agreement between the two countries and expired on February 5. US President Donald Trump says he wants to negotiate a new treaty, but in the meantime, controls on these deadly weapons remain in limbo. Our global defense editor Gerry Doyle joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

The US currency has come under pressure on multiple fronts, recently falling to its weakest level in four years. Unpredictable Washington policy making, fears over Federal Reserve independence, as well as fiscal concerns have driven investors away from the dollar. Our Markets Live Executive Editor Mark Cudmore joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Europe's far-right parties are reassessing their ties with US President Donald Trump following his threats to annex Greenland and use of military force against Venezuela. From the UK to Italy, politicians who have previously talked up their relationship with Trump are moderating their language. Our Managing Editor for European economy and government Ben Sills joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Data centers are a key part of the global artificial intelligence boom, but their rapid expansion requires land and energy. Rocket companies, from Elon Musk's SpaceX to Jeff Bezos's Blue Origin, have been looking at some new locations for these centers: putting them in space. Our space editor Bruce Einhorn joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

President Trump says the United States 'needs' Greenland. After American forces captured Venezuela's President, European leaders are now more worried about Trump's ambitions for the Arctic island, which is part of the Kingdom of Denmark. Danish Prime Minister Mette Frederiksen has said US action would threaten the NATO alliance. Our Copenhagen reporter Sanne Wass joins Stephen Carroll to discuss the state of play.See omnystudio.com/listener for privacy information.

Despite hitting repeated record highs, US stock indexes have actually underperformed markets elsewhere in 2025. Our Senior Equity Strategist Michael Msika joins Stephen Carroll to discuss what drove this trend, and the expectations for 2026.See omnystudio.com/listener for privacy information.

Prediction markets, platforms where people bet against one another on the outcomes of real-world events, are growing rapidly. The likes of Polymarket and Kalshi now collectively handle billions of dollars in bets every week. These markets have blurred the lines between gambling and trading, and their growth has been helped by a relaxed regulatory environment under US President Donald Trump. Our digital finance reporter Emily Nicolle joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

China is drawing lessons from the Trump administration’s still unfinished “peace plan” for Russia and Ukraine. President Xi Jinping is using the opportunity to sharpen the lines around his long-declared objective of unification with Taiwan. Bloomberg Opinion columnist Karishma Vaswani joins Stephen Carroll to discuss. You can read her latest piece on the topic here: Is China Preparing an Ukraine-Style Plan for Taiwan?See omnystudio.com/listener for privacy information.

Oil prices have been falling as this year looks set to end with the first supply glut since 2020. While lower prices benefit some, they're not good news for everyone. Bloomberg's Oil Strategist Julian Lee joins Caroline Hepker to explain.See omnystudio.com/listener for privacy information.

The world's biggest tech firms are pouring hundreds of billions of dollars into artificial intelligence. Those building AI technology are predicting massive growth. Despite all the bullish sentiment, some investors are still worried about future costs. Bloomberg Tech Europe anchor Tom Mackenzie joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

The US economy is growing, but Americans are feeling gloomy about it. Democratic candidates who campaigned on pocketbook issues won by big margins in Virginia and New Jersey governors’ races — so how will the parties play this issue ahead of the midterms? Our Managing Editor for US Economy and Government Mario Parker joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

US President Donald Trump began his second term in office by promising to be a peacemaker and keep the United States out of foreign conflicts. Since then, he has ramped up threats of military intervention abroad, from the Middle East to Venezuela. Our head of economics and government coverage across Europe, the Middle East, Africa and Latin America, Flavia Krause-Jackson, joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

The Trump administration demolished the East Wing of the White House in order to make space for a new 90,000-square-foot ballroom. The demolition surprised historians and architects who didn't realize the most prominent civic building in the US could be altered so dramatically without public discussion. Kriston Capps from Bloomberg CityLab joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

The European Union has agreed plans to ban all gas supplies from Russia by the end of 2027. Weaning European countries off Russian supplies has been a complex, and sometimes painfully slow, process. Our EU energy reporter John Ainger joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

China's top policymakers are finalizing their next five-year plan for the country, for the period from 2026-2030. It's a blueprint for economic and social development at a time when Beijing is facing a myriad of challenges at home and abroad. Jenni Marsh, who leads Bloomberg's team covering China's economics and government, joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Some of the world's wealthiest countries are struggling with debts higher than their own GDP, and it's upending their politics. Governments in France, the UK, the US and elsewhere are having to balance rising interest payments with demands for more investment, welfare or security. Bloomberg's Head of Economics and Government Stephanie Flanders joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

It's been a great six months for US stock markets, despite turbulence from tariffs and geopolitical tensions. Economic data continues to surprise to the upside. The Federal Reserve has extended a fresh lifeline to Wall Street. But beneath that surface, there are some signs of a shift in investor sentiment. Our Markets Live Managing Editor Kristine Aquino joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

A small toy monster with a toothy grin, known as a Labubu doll, has taken the world by storm, adorning the bags of millions of consumers — including popstar Rihanna and tennis champion Naomi Osaka. Some editions fetch thousands of dollars on resale, and Pop Mart, the Chinese maker of the toys, saw revenue jump over 200% in the first half of the year. But our Asia Global Business Managing Editor Rachel Chang joins Caroline Hepker to discuss how the modern toy trend started, and if it can continue.See omnystudio.com/listener for privacy information.

Recent incursions by Russian drones into NATO airspace had caused alarm across Europe, and triggered a military response from Poland. EU Commission President Ursula von der Leyen has promised a 'drone wall' along its eastern border - but what would it take to build more effective defenses? Our Global Defense Editor Gerry Doyle joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

President Trump has never failed to hide his dislike for wind farms. He says they massacre birds, cause cancer, and drive whales crazy. But now his attack on renewable power is reshaping the US energy landscape, jeopardizing thousands of jobs, and billions in investment. His administration is stopping wind farms and solar projects, revoking permits, and making every effort to reverse President Biden's green agenda. Rachel Morison, who leads Bloomberg's, Power, Gas, and Renewables Coverage in Europe joins host Caroline Hepker to discussSee omnystudio.com/listener for privacy information.

Donald Trump has never hidden his frustration with the Federal Reserve — and now, back in the White House, his attacks have only intensified. From insults directed at Chair Jerome Powell to threats against Fed Governor Lisa Cook, the president is waging an extraordinary campaign to push the central bank into cutting interest rates.It’s a striking challenge to central bank independence in the world’s largest economy. But could Trump’s unconventional pressure actually work?Bloomberg White House correspondent Catherine Lucey joins host Stephen Carroll to break down what’s at stake for the Fed, financial markets, and the future of US economic policy.See omnystudio.com/listener for privacy information.

The loophole that has allowed packages worth less than $800 to enter the United States tariff-free has ended after nearly 90 years. It's a major change for small businesses, shippers and consumers, and several European postal services have suspended deliveries of parcels to the US as a result. Our Trade Tsar Brendan Murray joins host Stephen Carroll to discuss the ramifications.See omnystudio.com/listener for privacy information.

China’s property market has been in a downward spiral for five years, with little sign of the crisis abating. Even after the collapse of real estate giant Evergrande, values are continuing to plummet. Households in financial distress are being forced to sell properties, and apartment developers that racked up enormous debt on speculative projects are on the brink of collapse. Lulu Chen, who leads our team covering Asian real estate, joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

A growing body of research is pointing to the drastic changes artificial intelligence will bring to the workforce, with predictions of millions of jobs being created and lost. According to analysis of recent US labor market data, AI does not appear to be causing a slowdown in hiring. Many companies are racing to implement the new tech into their businesses, but are they employing fewer people as a result? Bloomberg Opinion columnist Parmy Olson joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

The world's biggest technology companies have reported another period of strong earnings, adding to the recent rally in their share prices. Microsoft became only the second company to reach a $4 trillion valuation. Some market watchers are concerned that the valuations of the so-called Magnificent Seven companies are looking stretched. Gina Martin Adams, Chief Equity Strategist at Bloomberg Intelligence, joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

US President Donald Trump’s tariff strategy is reshaping trade, diplomacy, and the American economy. The levies have sparked turmoil in financial markets, but are already bringing in billions of dollars in revenue for the US Treasury. So far, the global economy has held up better than many economists expected, but how long will that last? Bloomberg’s Trade Tsar Brendan Murray joins host Stephen Carroll to discuss economic wins, diplomatic risks, and political payoffs of the most aggressive US trade policy in almost a century.See omnystudio.com/listener for privacy information.

Just days from US President Donald Trump's next tariff deadline, stock markets have hit record highs. Market volatility - as measured by the VIX Index - is at its lowest level in months. Are investors feeling zen, or do we need to rethink how we measure fear in the markets? Our markets reporter Valerie Tytel joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

US President Donald Trump is stepping up pressure on Federal Reserve Chair Jerome Powell, with a White House official saying he discussed firing the central bank chief in a meeting with congressional Republicans on Tuesday night. Speaking on Wednesday, Trump said he’s “not planning” to remove the Fed chief, but he has repeatedly criticised Powell’s actions on interest rates. Removing a Fed governor is legally difficult and would be likely to roil markets. Our Federal Reserve reporter Amara Omeokwe joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

A surge in visitor numbers to top European destinations has sparked protests from residents, many of whom feel they've reached a tipping point into overtourism. How can towns and cities strike a balance between the economic benefits of tourism, and the drawbacks? Feargus O'Sullivan from Bloomberg CityLab joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

As the US President's July 9 tariff pause deadline approaches, more countries are announcing agreements with the United States to avoid higher levies. But the content of the accords are very different from traditional trade deals. Our EMEA News Director Rosalind Mathieson joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Iran’s highly enriched uranium was last seen by UN nuclear monitors a few days before the start of Israel’s bombing campaign on June 13. Its whereabouts are unknown for now, a major cause of concern for experts at the International Atomic Energy Agency. How dangerous is this uranium, and how does nuclear diplomacy proceed from here? Our reporter Jonathan Tirone joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

China has condemned Israel's attack on Iran, while offering to play a positive role in facilitating dialogue between the two countries. China's economic ties to the region add to its geopolitical heft - and it's the latest example of Beijing’s growing role as a global power-broker and diplomatic force. Bloomberg News's Senior Executive Editor for the Greater China Region joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Is US exceptionalism over? Tech stocks were in, then out, then in again. Have rumours of the dollar's demise as a safe haven been greatly exaggerated? 2025's market turmoil has forced investors to rethink strategies which have long yielded results, but are these shifts lasting? Our Markets Live Managing Editor Kristine Aquino joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Technology has helped to improve the accuracy of weather forecasts for decades. Artificial intelligence-driven models are becoming more common, allowing forecasting using far less computation power than previous methods. But how accurate are AI's forecasts, and how is the industry adapting? Our weather reporter Mary Hui joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

It's been a year since we launched Here's Why. In that time we've brought you stories from the around the world about the global economy and how it's changing. To mark the occasion, we wanted to look back at one of our favourite episodes.CPI, PCE, GDP, PMIs and JOLTS are all data points closely monitored by markets. They help us understand where the economy is, can give us hints on where it's going. But are all of these numbers equally important? Our global economy reporter Enda Curran joins Stephen Carroll to discuss how to separate the signal from the noise. See omnystudio.com/listener for privacy information.

Hundreds of thousands of people around the world are now on weight loss drugs like Wegovy, known as GLP-1s. The food industry is taking notice too, with big companies leaning into more nutritional products to complement the effects of the drug. Deirdre Hipwell, who leads Bloomberg's team covering healthcare and consumer companies in Europe, joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.