Big Take

The Iran War is likely to take center stage when President Trump meets with Gulf leaders on the sidelines of this week's UN General Assembly. Houthi attacks in Saudi Arabia and rising energy prices underscore the widening global toll of a war that has cost the US more than $43 billion, according to the Pentagon's latest estimate.
On today's Big Take podcast, Bloomberg Global Defense Editor Gerry Doyle and Bloomberg Economics Defense Lead Becca Wasser join Sarah Holder to break down the conflict’s latest costs – the rising tab for the US's six-month-long blockade of the Strait of Hormuz, the drawdown of US munitions stockpiles and the deepening toll on military personnel – and how the war has changed the US's ability to defend itself in future conflicts.
Read more: Iran Blockade Costs Are Draining America’s Global Military Power
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Hosted by Sarah Holder; Reported by Gerry Doyle and Becca Wasser; Produced by Julia Press; Edited by Jeffrey Grocott; Engineering by Emma Munger.
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American pharma giants are increasingly turning to Chinese labs to discover, test and develop cutting-edge drugs.
On the Big Take Asia podcast, Bloomberg’s Amber Tong and Robert Langreth join Oanh Ha to break down why global drugmakers are sourcing their next big breakthroughs from China — and what that means for US biotech dominance.
Read more: Big Pharma Is Hooked on Chinese Licensing Deals
Hosted by K. Oanh Ha; Produced by Naomi Ng and David Fox; Guests: Amber Tong and Robert Langreth; Edited by Paddy Hirsch and Crispina Robert.
Fact-checking by Brunella Tipismana Urbano; Engineering by Alex Suguira.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.
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It’s been a big week for central banks around the world. Yet among the flurry of rate decisions, the Bank of Japan’s move stands out. After decades of near-zero interest rates, policymakers are betting Japan’s economy is finally returning to something closer to normal.
On today’s Big Take Podcast, K. Oanh Ha and Bloomberg’s Paul Jackson explore why the Bank of Japan is hiking rates at its fastest pace in decades, what the shift means for the yen carry trade and how Japan’s policy moves could ripple across global markets.
Read more: BOJ Hikes at Fastest Pace Since 1990 After Bessent’s Calls
Hosted by K. Oanh Ha and David Gura; Guest: Paul Jackson; Produced by Naomi Ng, Julia Press and David Fox; Edited by Crispina Robert and Paddy Hirsch. Engineering by Sean Carter.
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The “working class” in America used to conjure a vivid image: factory workers, blue-collar jobs and a political coalition born out of the Industrial Revolution. But as Republicans and Democrats try to court voters ahead of midterms, a question keeps coming up: What is the working class today?
On today’s Big Take podcast, host Sarah Holder talks to Bloomberg Opinion columnist Allison Schrager, labor activist Bertha “Mama Cookie” Bradley and Distinguished Professor of Law Joan C. Williams about the moving target of defining and catering policy to working Americans.
Read more: Nobody Knows What ‘Working Class’ Even Means Anymore

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Hosted by Sarah Holder; Guests: Allison Schrager, Joan C. Williams, Bertha “Mama Cookie” Bradley; Produced by Rachael Lewis-Krisky and Brunella Tipismana Urbano; Edited by Aaron Edwards. Engineering by Emma Munger.
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The Federal Reserve raised interest rates by 25 basis points today and indicated another hike could come later this year. Chair Kevin Warsh had telegraphed the move, putting him on a collision course with President Donald Trump.
Today on the Big Take, Bloomberg Opinion’s John Authers and Fed reporter Maria Eloisa Capurro join David Gura to discuss why a “no forward guidance” Fed chair showed his hand so early and what it means for the markets and the midterms.
Read more: Fed Raises Rates as Warsh Bucks Trump to Contain Inflation
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Hosted by David Gura; Guests: John Authers, Maria Eloisa Capurro; Produced by Rachael Lewis-Krisky; Edited by Naomi Shavin; Mixed by Alex Sugiura
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