Big Take

As the US Federal Reserve embarks on an interest-rate hiking cycle to tamp down on decades-high inflation, the struggles of Midland, Texas show how difficult it’ll be to douse prices with the blunt tool of monetary policy.

Bloomberg's Scott Squires reads "Texas Town Has Highest Inflation in America — and Residents Are Struggling" by Katia Dmitrieva.

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Formula One has finally found its way to build a true U.S. fan base: Americanize. F1 is hugely popular with South American and European audiences and has long been considered the pinnacle of motorsports (though a stodgy, posh one). Under new ownership, F1 is finding huge success in America thanks in part to a Netflix hit, Twitch streams and a little bit of "Miami-meets-Vegas" magic on the circuit. Mark Leydorf reads Bloomberg Businessweek's "Formula One Finally Found a Way to Get Americans to Care" by Austin Carr.

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The Twitter founder, Block CEO, and Elon Musk buddy is gazing into the future with laser eyes, and he wants you to follow him.

Bloomberg Businessweek's Mark Leydorf reads "How Jack Dorsey Quit Twitter to Become Bitcoin's Spiritual Leader."

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David McCormick, who once championed diversity and inclusion under Ray Dalio, is now trying to out-Trump Dr. Oz in a Pennsylvania race that could become the most expensive Senate primary ever. 

Story read by Bloomberg Businessweek's Mark Leydorf. Written by Joshua Green.

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The global semiconductor supply chain is a mess, and sanctions against Russia for attacking Ukraine is only going to make it worse. Meanwhile, in a race against China, U.S. and European plans to spend billions to build their own chip infrastructure could also easily backfire. Bloomberg News' Scott Squires reads "The Global Fight Over Chips Is Only Going to Get Worse" by Jillian Deutsch, Debby Wu and Jenny Leonard.

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Bloomberg's Laura Carlson reads "Here’s What the Pandemic Has in Store for the World Next."

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Singaporeans invested a billion dollars in Ng Yu Zhi’s nickel-trading company. He’s accused of taking the money and skipping the nickel..

Bloomberg Businessweek's Mark Leydorf reads "The Billion-Dollar Nickel-Swap Scandal That Shocked Singapore" by Matthew Campbell and Chanyaporn Chanjaroen.

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Jonathan Braun went to jail on drug charges after a successful career as a predatory lender. Thanks to a good word from Alan Dershowitz and commutation from Donald Trump, he’s back in business.

Bloomberg Businessweek’s Mark Leydorf reads “The Loan Shark Trump Freed From Prison Is Lending Money Again” by Zeke Faux.

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A decade ago NFL leaders said legal gambling would create a corrosive atmosphere for football. Every penalty or dropped pass would “inevitably fuel speculation, distrust and accusations of game-fixing,” NFL Commissioner Roger Goodell said back in 2012. Today, 100 million Americans can legally bet on sports, and the NFL has embraced betting apps as not just a way to engage with fans, but mint cash.

Bloomberg Businessweek's Mark Leydorf reads "Place Your Bets" by Peter Robison and Ira Boudway.

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