California Creates A Reparations Blueprint For African Americans

President Biden’s plan to forgive federal student loan debt for millions of Americans has been frozen since a handful of Republican-led states sued to stop it. They argue the president doesn’t have the power to wipe away billions of dollars of debt on his own. It’s now up to the US Supreme Court to decide if they’re right.Bloomberg Supreme Court correspondent Greg Stohr joins this episode to talk about the arguments on both sides, and where the 6-3 conservative majority might come down. And personal finance reporter Claire Ballentine explains what happens next for Americans with student debt if the court upholds Biden’s plan–or knocks it down. Read more: https://bloom.bg/3ktdt6P  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 bigtake@bloomberg.net.See omnystudio.com/listener for privacy information.

24 Feb 202326min

As Nigerians decide on a new president, the country’s economy is reeling. Nigeria’s public debt is growing, inflation is soaring, and half of adults can’t find steady work. People wait in line for hours at gas stations to fill their cars and light their homes with generators because the shaky power grid can’t keep up. Kidnapping for ransom is a growing problem.  What can be done to turn things around? Bloomberg journalists Neil Munshi in Lagos, Nigeria and Ruth Olurounbi in Abuja, the capital, join this episode to talk about what’s at stake in this election–and how the candidates vying for the job say they’ll address these problems. Then, Cheta Nwanze, lead partner at SBM Intelligence, explains why it’s so difficult to attract companies, and money, to Africa’s largest economy. Read more: https://bloom.bg/3XUUzU5 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 bigtake@bloomberg.net.See omnystudio.com/listener for privacy information.

23 Feb 202325min

February 24 marks one year since Russia invaded Ukraine. Russian President Vladimir Putin believed the country’s military would be defeated quickly and Kyiv, the capital, would fall. Instead, Ukraine’s clever, nimble — and motivated — military has fought back Russia’s forces despite being vastly outgunned. But the war has taken a terrible toll. Thousands of people have died. Cites have been devastated and millions of displaced Ukrainians are now living as refugees in other countries. Bloomberg journalists Daryna Krasnolutska and Marc Champion in Kyiv, and Rosalind Mathieson in London join this episode to take stock of all that has happened in the past year, and what lies ahead for Ukraine. Read the story: https://bloom.bg/3IL2hMf  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 bigtake@bloomberg.net.See omnystudio.com/listener for privacy information.

22 Feb 202331min

Around the world, a looming problem is making workers nervous–and angry. People in many countries are living longer, and at some point governments will run out of money to pay their retirement benefits.One solution some politicians are pushing: raising the retirement age for workers. Which…is about as popular as it sounds.So what is the answer? Ben Sills, who leads Bloomberg’s government and economics coverage in Europe, and White House and politics reporter Nancy Cook join this episode to sort through the tough economics and fraught politics of retirement. And pensions reporter Amy Bainbridge, personal finance reporter Ainsley Thomson, and senior editor Emily Cadman talk about how governments all over are trying to get hold of the problem before it becomes a crisis. Read more: https://bloom.bg/3SapcUf 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 bigtake@bloomberg.net.See omnystudio.com/listener for privacy information.

21 Feb 202330min

We’re taking a break for President’s Day here in the US. So here’s one of our favorite stories you might have missed. We’ll be back tomorrow with a new episode. Thanks for listening!Here’s a random yet important fact: Copper is one of the very best conductors of electricity of all metals. And that matters, because as we move toward a world in which more and more things in our lives plug in or charge up–not just your phone, but electric vehicles, solar panels and wind turbines that will power the future–copper is in increasingly high demand.  Some of the richest reserves of copper are found in Southern Africa. But getting it from deep underground and trucking it thousands of miles to buyers can be a harrowing journey. Without more production or new mines, the world could be looking at shortages, and soaring prices for copper and the products that use it. Reporters James Attwood and Yvonne Yue Li join this episode to explain what a coming copper shortage could mean for us all. And reporter Matthew Hill describes his trip to a huge mine in Zambia, where he descended thousands of feet to see copper being blasted from the rock.  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 bigtake@bloomberg.net.See omnystudio.com/listener for privacy information.

20 Feb 202327min

It’s hard to believe, but the 2024 presidential election is already off and running, and there’s grumbling in both parties. Some Republicans want to put Donald Trump behind them, and some Democrats worry 80-year-old Joe Biden might not be up to the long slog of a presidential campaign. Bloomberg’s managing editor for US government Flavia Krause-Jackson, national political correspondent Joshua Green, and White House correspondent Jordan Fabian join this episode to tell us what to pay attention to–and what’s just noise. 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 bigtake@bloomberg.net.See omnystudio.com/listener for privacy information.

17 Feb 202329min

The recent earthquakes that devastated Turkey and Syria have left millions of people in desperate need of help. But those seeking to bring food, medicine, and supplies into the country face daunting obstacles.  Syria’s government wants to control aid shipments and who gets them. Strict economic sanctions imposed on Syria’s government by the US and Europe make it difficult to conduct any transactions there. Governments, banks and humanitarian aid groups are sometimes wary of triggering penalties if their work is seen as violating the sanctions, even despite a temporary easing of the restrictions for earthquake relief. Sylvia Westall in Dubai, who leads Bloomberg’s government coverage in the Middle East, and Nick Wadhams in Washington, DC, who oversees reporting on US national security and foreign policy, join this episode to talk about how sanctions and the Syrian government are complicating efforts to assist earthquake victims. And Jennifer Higgins of the International Rescue Committee describes how her organization is clearing these hurdles to bring help where it’s needed most. 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 bigtake@bloomberg.net.See omnystudio.com/listener for privacy information.

16 Feb 202328min

In 2020, the enormously popular heartburn medication Zantac was pulled from store shelves after samples were found to contain the probable carcinogen NDMA. The drug has since been re-introduced with a new formula that is considered safe to use as directed.But tens of thousands of people who took the old version of the drug, made with the active ingredient ranitidine, are now suing Zantac’s maker, then called Glaxo and now known as GSK. They claim the medication gave them cancer and are seeking compensation. The company is pushing back, saying there is no conclusive evidence or scientific consensus that ranitidine can degrade and form NDMA in harmful amounts under normal conditions.Reporters Anna Edney, Susan Berfield, and Jef Feeley dug into the claims and counterclaims for Bloomberg Businessweek, and they join this episode to talk about Zantac’s rise and fall and where these lawsuits are headed. And Dr. Jaap Venema, chief science officer at US Pharmacopeia, explains how potential carcinogens get into drugs–and what pharmaceutical companies and government agencies are–and should be–doing to ensure the safety of the medications we take. Read the story: https://bloom.bg/3Yxzno2 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 bigtake@bloomberg.net.See omnystudio.com/listener for privacy information.

15 Feb 202327min