Big Take

Joining the discussion is Steven Dennis, a Bloomberg reporter known for his insights on Congress and economic trends. He dives into the fascinating decline of the penny, exploring its historical importance and the economic rationale behind its discontinuation. Steven highlights how this decision reflects broader changes in U.S. currency attitudes and its cultural significance. He also addresses the implications for everyday transactions and consumer behavior, leaving listeners with a thought-provoking view on the future of American currency.

Mario Parker, Bloomberg’s White House and government editor, dives into the recent tax bill passed by Congress that signals a shift in executive power under Trump. He discusses how the tax legislation could redefine governance, potentially benefiting certain sectors while challenging social programs. The conversation also covers the implications of unilateral executive actions and the evolving dynamics between the presidency and Congress, particularly in military decisions. Parker's insights illuminate the future of legislative power and Trump's enduring influence.

In this discussion, David Welch, Bloomberg's Detroit bureau chief, shares insights on the shifting landscape of auto sales amid looming tariffs. As buyers surged to dealerships following Trump’s tariff announcement, vehicle sales now face a steep decline. Welch highlights how major players like GM and Tesla are navigating these economic pressures. The future of EV tax credits and the resulting impact on car pricing and availability for consumers are also dissected, providing a fascinating look at the evolving automotive market.

Rick Woldenberg, CEO of Learning Resources, shares his fight against tariffs that have disrupted his toy company and others in America. Joined by Lucille Liu, Bloomberg's correspondent in Beijing, they discuss the chaos caused by Trump's trade war. Woldenberg reveals the emotional and financial toll on businesses and how companies are considering shifts to countries like Vietnam and India. They explore the resilience of Chinese manufacturers responding to these challenges and the broader impact on consumers and the economy.

Bloomberg reporter Redd Brown, an expert on the cruise industry, dives into the booming world of cruise tourism and its surprising rebound. He explores the bustling port city of Galveston, Texas, revealing how it's become a central hub for vacationers amidst rising passenger numbers. Redd discusses the economic benefits local businesses are experiencing but also highlights the growing tensions among residents regarding overcrowding and environmental concerns. The cruise industry’s ambitious expansion plans pose both opportunities and challenges for communities like Galveston.

Zohran Mamdani, a New York State Assembly member and democratic socialist, is making waves as a candidate for NYC mayor. He discusses his bold policies like rent freezes, universal childcare, and plans for city-run grocery stores to tackle affordability. Mamdani shares insights on addressing the housing crisis and suggests creating a Department of Community Safety, emphasizing a shift towards community-based solutions. He also navigates the challenges of tax reform, aiming to raise taxes on the wealthy to fund vital public services.

In this episode, Randall Williams, a Bloomberg sports business reporter, delves into the Buss family's stunning decision to sell the Los Angeles Lakers for a record $10 billion. He highlights Jerry Buss's groundbreaking ownership legacy and the cultural impact of the 'Showtime' era. The conversation also touches on the shifting dynamics of sports ownership, the role of private equity in team valuations, and how these changes may affect fan experiences. Williams provides insights into the future landscape of sports entrepreneurship and community engagement.

In this discussion, Amanda Mull, a Bloomberg reporter who closely tracks the highs and lows of Gap, shares insights into the brand's rollercoaster journey. She dives into Gap's attempts to reclaim its cool status in 2025, boosted by a campaign featuring Parker Posey. However, the excitement is overshadowed by President Trump's new tariffs, posing significant challenges. Mull also highlights the emotional ties consumers have with the brand and the strategic shifts necessary to navigate the changing retail landscape.

Join John Liu, the Beijing-based overseer of Bloomberg's China coverage, as he delves into the intricate relationship between China and Iran. He reveals how China is navigating its position as Iran's largest trading partner amidst U.S. foreign policy challenges and Middle Eastern conflicts. Liu discusses China’s strategic interests in Iranian oil and its potential role as a stabilizing force in the region. With global power dynamics shifting, he reflects on how this alliance could reshape international relations and the geopolitical landscape.

Ernest Moniz, former US Energy Secretary and nuclear physicist, shares his insights on the intricate dynamics of U.S.-Iran negotiations. Alongside Nick Wadhams from Bloomberg, they discuss Iran's nuclear ambitions in the wake of recent conflicts and the delicate balance required for lasting peace. Moniz reflects on past successes of the 2015 deal while analyzing the potential risks of military actions. The discussion also emphasizes the importance of rebuilding trust and verification in future diplomacy with Iran.