Big Take

Iran and Saudi Arabia surprised many governments in March when they announced an agreement to restore diplomatic relations–ending a seven-year freeze.

Just as surprising: The deal was brokered by China.

Bloomberg correspondents Golnar Motevalli and Sam Dagher join this episode to explain how this landmark agreement came together and what each side hopes to gain from it.

And Jonathan Fulton, a nonresident senior fellow for Atlantic Council’s Middle East Programs, talks about China’s critical role in this deal and the nation’s growing ambitions as a global power broker.

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More than 400 anti-LGBTQ bills have been introduced in U.S. state legislatures this year, and more than twenty have been signed into law. That’s greater than the last five years–combined. Some of these pieces of legislation seek to outlaw access to gender-affirming healthcare for transgender youth. Others would make it easier to ban books from school libraries.

Bloomberg reporter Ella Ceron joins this episode to talk about the momentum behind this push and which states are pressing ahead with these bills. We also hear from Democratic state senator Shevrin Jones of Florida—where ten anti-LGBTQ bills are on the table—about the political battle in his state.

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Tucked into President Biden’s massive Inflation Reduction Act is a pot of money–$15 million–for the Internal Revenue Service to study a long-talked-about idea: Building an online IRS platform that would enable taxpayers to file their taxes easily and for free. If it moves ahead, it could mean an end to frustratingly complex forms and fees to accountants and tax prep companies.

There are plenty of obstacles in the way. Some politicians and industry groups in Washington are already lining up against it. And it’s not clear Americans would trust the IRS to calculate their refund–or how much they owe.

Bloomberg reporters Laura Davison, Brody Ford, and Ben Steverman join this episode to talk about the promise—and potential pitfalls—of a public filing option for all.

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There’s been a ton of news coverage and commentary around Donald Trump’s indictment in New York on Thursday. But the Manhattan case is only one of several criminal investigations and civil cases swirling around the former president—from the US Justice Department’s inquiry into the Jan. 6 attack on the US Capitol and the investigation of Trump’s attempts to overturn the 2020 election results in Georgia, to probes of Trump’s business practices. 

Bloomberg legal reporters Zoe Tillman and Erik Larson join this episode to look beyond the Manhattan indictment and assess Trump’s other legal entanglements, and where things go from here.

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Last May, the Oak Ridge National Lab, run by the US Department of Energy, unveiled Frontier–the world's fastest supercomputer. It’s capable of performing a quintillion calculations per second, breaking what's called the exascale barrier. 

The system requires its own power plant, 6,000 gallons of water to keep it cool, and a highly trained staff to operate. So what can it do? And who gets to use it?

We set out for Knoxville, Tennessee to try to wrap our brains around Frontier’s limitless potential.

See more about Frontier here: It Takes 6,000 Gallons of Water to Cool the World’s Fastest Supercomputer

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If you’re a working parent, finding childcare is almost certainly a source of stress in your life. It’s often a struggle to find an opening and when you do, it can be crazy expensive. This presents a tough choice: pay for childcare to be able to work, or become a caregiver and forgo a second income. And for single parents, there is no choice at all.

Bloomberg reporter Olivia Konotey-Ahulu has been covering the growing discontent of parents in the UK. And Simon Workman is co-founder of Prenatal to Five Fiscal Strategies, which consults with US states to find ways to support the needs of young children and their families. They both join this episode to look at how the US and UK can fix their broken childcare systems–and highlight countries that are doing it right.

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Guardianships in the US are supposed to help vulnerable people who can’t help themselves.  But a Bloomberg Law investigation reveals a loosely regulated system in which those placed under guardianships can find themselves trapped, and sometimes exploited, by the people entrusted with their care.

Bloomberg Law correspondents Ronnie Greene and Holly Barker join this episode to discuss their five-part series on how the system works—and doesn’t work—and what can be done to fix it.

Read the story: https://bloom.bg/3zgHQBk 

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There’s at least one thing Democrats and Republicans in Washington have in common: suspicions about TikTok’s ties to China. The Biden administration and members of congress from both parties are urging the social media platform’s Beijing-based parent company, ByteDance Ltd., to sell its stake in TikTok or risk being banned in the US. 

Sound familiar? That’s because two and a half years ago, former President Trump sent a very similar warning that ultimately went nowhere.

Bloomberg reporters Alex Barinka and Anna Edgerton join this episode to talk about this latest chapter in the standoff between the US government and TikTok. Plus, what a congressional hearing with TikTok’s CEO revealed about national security concerns surrounding the app.

Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK Have questions or comments for Wes and the team? Reach us at [email protected].

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A lot has been said about the collapse of Silicon Valley Bank and Credit Suisse. But one important thing revealed by those closely scrutinized failures has largely gone unnoticed: the changing relationship between governments and banks. 

Bloomberg Editor-In-Chief John Micklethwait joins this episode to talk about how the idea that finance is an arm of the state is back–and why that will have far-reaching consequences for the way the world works.

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The global pet economy is expected to reach nearly half a trillion dollars by 2030. After a pandemic surge in pet adoptions, more people are buying ever more expensive food and toys for their furry friends. But beyond these routine costs, a growing number of owners are also shelling out thousands for veterinary care to treat complex illnesses and keep their pets alive for longer. 

Bloomberg reporters Brendan Case and Nacha Cattan join this episode to give an expansive view of the industry, including how new diagnostic tools and medications are extending pet lifespans—and wearing down owners’ wallets.

Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK 

Have questions or comments for Wes and the team? Reach us at [email protected].

This podcast is produced by the Big Take Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Kathryn Fink, Producers: Mo Barrow, Rebecca Chaisson, Michael Falero and Federica Romaniello, Associate Producers: Sam Gebauer and Zaynab Siddiqui. Sound Design/Engineers: Raphael Amsili and Gilda Garcia.

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