Big Take

Amid growing concern over AI risks, top tech executives were summoned to the White House this past week and agreed to US President Donald Trump’s preferred alternative to federal regulation. The accord, which carries no legal weight, commits Anthropic, OpenAI, Nvidia, Meta, SpacexAI and Google to “robust internal processes” and independent audits, and comes soon after safety worries delayed the release of the latest ChatGPT model.

At Google, James Manyika’s role as senior vice president of technology and society — and as co-director of the newly established DeepMind Institute — is to help ensure that AI turns out well. In this conversation with Mishal Husain, the two discuss what regulation could look like without the support of the US and where Google stands in the debate.

Read Mishal’s notes on this conversation https://www.bloomberg.com/mishal

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Romantasy books have created a near-billion-dollar industry in the US alone. This week, fans are racing to grab a copy of Rebecca Yarros’ Threshing Day, and bracing for the sixth installment of one of the genre’s biggest hits, A Court of Thorns and Roses by Sarah J. Maas, coming later this month.

On today’s Big Take podcast, Bloomberg’s Hannah Miller and Madison Muller take host David Gura into the booming world of publishing’s runaway obsession. And The Knave and the Moon author Rachel Gillig talks about going from preschool teacher to global literary celebrity.

Read more: The Steamy, Magical and Now Very Lucrative Romantasy Business

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Host: David Gura; Guests: Hannah Miller, Madison Muller; Produced by Julia Press and David Fox; Edited by Aaron Edwards; Engineering by Sean Carter; Illustration by Anna Podedworna.

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The Premier League has found its top-ranked club, the star-studded and highly decorated Manchester City, guilty of artificially boosting financial results by more than £900 million over nine years. The franchise used “sham” contracts to build an unprecedented competitive advantage. The team has until Oct. 2 to respond to the charges.

On today’s Big Take podcast, David Gura and UK-based Business of Sports Editor Giles Turner unpack the cheating allegations against Man City and how the scandal could reshape the entire league.

Read more: Man City Broke Rules With ‘Sham’ Contracts, League Finds

Popular on Bloomberg: Who’s Who at Jane Street

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Host: David Gura; Guest: Giles Turner; Produced by Julia Press and David Fox; Edited by Naomi Shavin; Engineering by Emma Munger.

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The 2026 midterms are on track to become the most expensive elections in US history, with Republican Senate candidates raking in hundreds of millions from PACs and Democrats riding a growing wave of individual donations. So who has the edge?

On today’s Big Take podcast, Bill Faries, who oversees Bloomberg’s midterm coverage, and campaign finance reporter Bill Allison join Sarah Holder to break down how each party is raising and spending cash and what it means for control of the Senate — and for the coming presidential race.

Read more: Shifting Senate Map Is Fueling Most Expensive Election Ever

Further Listening: Why Everyone Is Talking About High Diesel Prices

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Host: Sarah Holder; Guests: Bill Allison and Bill Faries; Produced by David Fox and Julia Press; Edited by Jeffrey Grocott; Engineering by Sean Carter.

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China is ramping up an ongoing effort to shore up local government budgets and fund AI data centers with tax revenue from its richest citizens. Billionaires across the country are seeing bills hit their doorstep, and one major deadline to pay up is just weeks away.

On today’s Big Take podcast, host David Gura talks to Bloomberg’s Lulu Chen about why Beijing is enforcing and rewriting its tax rules, and the measures some wealthy citizens are taking to pay up or fight back.

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns on the Bloomberg Billionaires Index.

Read more: China’s Tax Grab Squeezes Rich Elite Harder Than Ever

Further listening: China Tightens Its Grip on Billions in Offshore Wealth

Hosted by David Gura; Guest: Lulu Chen; Produced by Naomi Ng; Edited by Aaron Edwards, Engineering by Greg Tock

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At over 5%, the 10-year Treasury yield is the highest since 2007. Those soaring yields are raising lots of questions about whether investors should be trimming stocks and buying bonds. But timing such a move can be complicated. 

On today’s Big Take podcast, Bloomberg’s David Papadopoulos and Michael Regan join host Sarah Holder to discuss whether we’re on the brink of a great portfolio reallocation, two very different reasons why bond yields are rising and why one prominent AI skeptic is embracing the trade he once shunned.

Further reading: AI Skeptic Rajiv Jain Embraces the Tech Trade He Once Shunned

Further listening: Why Everyone is Talking About High Diesel Prices

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Host: Sarah Holder; Guests: David Papadopoulos and Michael Regan; Produced by Julia Press and David Fox; Edited by Tracey Samuelson; Engineering by Sean Carter.

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In 2014, the economists Owen Zidar and Eric Zwick were asked by the US Treasury to conduct a study on the tax burden of private business owners. One of their central findings is that there are about three million private business owners who have an average wealth of around $25 million. The research they conducted led to their new book, The Everywhere Millionaire: Who Is Really Rich in America and How They Got There.

On this week's Weekend Listen, Odd Lots co-hosts Joe Weisenthal and Tracy Alloway talk to Zidar and Zwick about how they measured the actual number of rich people in America, why income inequality started to rise in tandem with the growing number of pass-through businesses, and how it's possible that the collective revenue of the nation's dentists far exceeds that of the NFL.

Read more:
Tech’s New Rich Are Suffering From ‘Sudden Wealth Syndrome’
Jobless Tech Workers Are Being Left Out of San Francisco’s AI Boom

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People who fabricate artificial stone are getting sick with a deadly chronic illness—on that, there’s no debate. But whether it’s the individual shops or the material’s manufacturers who should be held responsible is the subject of a highly political dispute playing out across the US.

On today’s Big Take podcast, Bloomberg labor reporter Josh Eidelson breaks down the consequences of this dispute for the industry and the people who work in it.

Read more: ‘Death Sentences’: Crafting America’s Favorite Countertops Is Killing Workers

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Host: Sarah Holder; Guest: Josh Eidelson; Produced by Julia Press; Edited by Naomi Shavin; Engineering by Alex Sugiura.

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At this week’s UN General Assembly meeting in New York, an AI executive delivered dire warnings via video. President Trump threatened to annihilate Iran. China’s Xi Jinping skipped the meeting altogether. Eight decades after its founding as a guarantor of world peace, does the UN still matter?

On today’s Big Take podcast, what UN week and the Xi-Trump summit mean for global security and the future of multilateralism. Host David Gura speaks with Bloomberg’s managing editor for international security and economics, Nick Wadhams, and Bloomberg TV’s chief political correspondent Annmarie Hordern.

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Hosted by David Gura; Produced by David Fox and Naomi Ng; Guests: Annmarie Hordern and Nick Wadhams; Edited by Jeffrey Grocott; Engineering by Emma Munger.

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Diesel prices are hitting new highs, and voters aren’t happy. With the midterms approaching, the Trump administration is trying to find ways to curb fuel costs, including a potential US diesel export ban.

On today’s Big Take podcast: The political fallout of sky-high diesel prices. Bloomberg national economics reporter Mark Niquette and host Sarah Holder break down what’s driving up costs, why prices are hitting battleground states particularly hard and whether an export ban could backfire.

Read more: Record Diesel Prices Hit at Worst Time in Key Battleground States

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Hosted by Sarah Holder; Produced by David Fox; Reported by Mark Niquette Edited by Tracey Samuelson; Engineering by Alex Sugiura

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