The Investment Strategy Behind Harvard’s Record Endowment — and How It Fell Apart

The car sales industry in North America ground to a halt in mid-June after sophisticated cybercriminals took down CDK Global, the software provider with a near-monopoly on the industry. It caused chaos in the middle of one of the biggest seasons for car-buying. Dealers couldn’t access their inventory. Buyers couldn’t get cars off the lot. And customers feared for their personal data. On today’s Big Take podcast, Bloomberg senior technology editor Dana Wollman and host Sarah Holder discuss what getting back to normal for dealerships might look like, how the group of hackers behind the shutdown operate, and why industries that rely on centralized software systems — from education to healthcare — are vulnerable.   Read more: BlackSuit Cybercrime Gang Blamed in CDK Hack That Roiled Car DealersSee omnystudio.com/listener for privacy information.

3 Heinä 202416min

One after another, bankers at China International Capital Corporation — China’s premier investment bank – are pledging loyalty to the Communist Party, underscoring a new reality for Wall Street-style capitalists in the era of Xi Jinping.Today on the Big Take Asia, host David Gura speaks with Bloomberg’s Cathy Chan about the tug-of-war between communism and capitalism at the “Morgan Stanley of China,” and how politics are redefining Chinese finance.Read More: China’s Investment Bankers Join the Communist Party as Morale (and Paychecks) ShrinkFurther listening: What Does China’s Economic Slowdown Mean For the Communist Party?See omnystudio.com/listener for privacy information.

2 Heinä 202415min

There is a growing push from retail traders, international investors, and a few big hedge funds to do something once unthinkable: keep stock markets open for 24 hours a day, 7 days a week. But when do traders sleep if Wall Street never shuts? On today’s Big Take podcast, Bloomberg finance reporter Katherine Doherty joins host Sarah Holder to break down what’s behind the growing demand for after-hours trading on platforms like Robinhood, whether regulators will ever approve such a move, and what happens to the opening bell if the New York Stock Exchange never closes.Read more: 24-Hour Stock Trading Is Booming – and Wall Street Is RattledSee omnystudio.com/listener for privacy information.

1 Heinä 202416min

You’ve probably felt the pain of inflation. And you’ve also probably heard about shrinkflation — when companies respond to inflation by keeping their prices steady and making their products smaller. But have you heard of ‘upflation’? It’s a new tactic consumer goods brands are using to get people shopping again. From whole-body deodorant to more genres of razor, companies are tweaking everyday essentials and jacking up the price. On today’s Big Take podcast, Bloomberg consumer goods reporter Leslie Patton tells host Sarah Holder where to spot upflation in the wild – and how to avoid paying extra for everyday products. See omnystudio.com/listener for privacy information.

27 Kesä 202414min

Four years after Beijing imposed a national security law on the city, Hong Kong continues to serve as an important financial hub connecting mainland China with the rest of the world. But beneath the surface, the consequences of the crackdown are far-reaching.Today on the Big Take Asia, ahead of the 27th anniversary of Hong Kong’s handover to China, host K. Oanh Ha speaks with Bloomberg’s China editor Alan Wong about how Beijing is reshaping Hong Kong, its impact on the city’s residents and what that means for Hong Kong’s future.See omnystudio.com/listener for privacy information.

26 Kesä 202418min

LVMH has a sprawling portfolio of brands synonymous with luxury: Christian Dior, Louis Vuitton, Fendi, Bulgari, Celine, Tiffany & Co., Hennessy and Veuve Clicquot. Its CEO, Bernard Arnault, almost never speaks to journalists and doesn’t have the name recognition of the likes of Jeff Bezos or Elon Musk, but regularly vies with them for the title of richest person in the world and has an almost impossible-to-measure influence over the business world. Bloomberg Businessweek’s Brad Stone and reporter Angelina Rascouët recently landed a rare interview with Arnault, where they learned how he built his empire from the ground up. And they consider a burning question: At 75 years old with five grown children in the business, what are his plans for succession? Read more: The House of ArnaultSee omnystudio.com/listener for privacy information.

25 Kesä 202413min

AI data centers are huge energy black holes, consuming as much energy as 30,000 homes – and their rapid growth is straining global grids. The numbers are astonishing: Sweden could see power demand from data centers roughly double over the course of this decade. In the UK, AI is expected to suck up 500% more energy over the next decade. And in the US, data centers are projected to use 8% of total power by 2030, up from 3% in 2022. On today’s podcast, host David Gura and Bloomberg reporter Josh Saul discuss just what these insatiable AI data center power needs mean for local communities, energy prices, and efforts to switch to renewables to combat climate change. Read more: AI is Already Wrecking Havoc on Global Power Systems See omnystudio.com/listener for privacy information.

24 Kesä 202414min

What do Robert Kraft, Kevin Durant and Joe Tsai – owner of the Brooklyn Nets – all have in common? They’ve decided to go big on a new professional sport: lacrosse. Historically popular in East Coast colleges and prep schools – with a strong Canadian presence – these days, the Premier Lacrosse League is hoping to broaden its appeal to anyone looking for something other than baseball to watch during the summer. On today’s episode, Philadelphia Waterdogs players Jake Carraway and Ryan Conrad on what it's like to juggle working on Wall Street during the week and playing lacrosse on the weekends and PLL founder Paul Rabil on his ambitious plans to emulate the success of the UFC. And host David Gura and Bloomberg reporter Bailey Lipschultz discuss what PLL’s story can tell us about other efforts to turn sports like cornhole and pickleball into big-money professional leagues.  Read more: Wall Street Bankers Skip Hamptons Summer for Pro Lacrosse LeagueSee omnystudio.com/listener for privacy information.

21 Kesä 202414min