One month after Trump’s “Liberation Day” tariffs, Q1 earnings reports for a range of US companies are in. 

On today’s episode, Bloomberg’s Shelly Banjo joins host Sarah Holder to talk through what those reports are revealing about companies’ reactions to Trump’s trade war. Are they pausing, pivoting or panicking?

Read more of Shelly Banjo’s work.

One month after Trump&rsquo;s &ldquo;Liberation Day&rdquo; tariffs, Q1 earnings reports for a range of US companies are in.&nbsp;
On today&rsquo;s episode, Bloomberg&rsquo;s Shelly Banjo joins host Sarah Holder to talk through what those reports are revealing about companies&rsquo; reactions to Trump&rsquo;s trade war. Are they pausing, pivoting or panicking?
<a href="https://www.bloomberg.com/authors/ASkbVJ3fYAA/shelly-banjo">Read more of Shelly Banjo&rsquo;s work.</a>

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

Earnings Are In. Companies Can’t Hide From Tariffs Anymore

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/d4b7a46b-8114-4e0a-a595-b2d0015af284/transcript

President Donald Trump fired Kristi Noem from her role as head of the Department of Homeland Security on Thursday. One of the reasons for Noem’s removal involved her oversight of a $240 million DHS ad campaign, starring herself. 

On today’s Big Take podcast, Bloomberg investigative reporters Irene Casado Sanchez and Eric Fan join host Sarah Holder to reveal the inside story of that ad blitz — and the ties between people in Trump’s orbit and the companies that were given millions to spend on it. 

Read more: Noem Ad Blitz Benefits Media Firms Linked to Trump Campaigns

President Donald Trump fired Kristi Noem from her role as head of the Department of Homeland Security on Thursday. One of the reasons for Noem&rsquo;s removal involved her oversight of a $240 million DHS ad campaign, starring herself.&nbsp;
On today&rsquo;s Big Take podcast, Bloomberg investigative reporters Irene Casado Sanchez and Eric Fan join host Sarah Holder to reveal the inside story of that ad blitz &mdash; and the ties between people in Trump&rsquo;s orbit and the companies that were given millions to spend on it.&nbsp;
Read more:&nbsp;<a href="https://www.bloomberg.com/news/features/2026-03-06/noem-dhs-ad-blitz-benefits-firms-linked-to-trump-campaigns?srnd=homepage-americas">Noem Ad Blitz Benefits Media Firms Linked to Trump Campaigns</a>

The $240 Million Ad Campaign That Helped Get Kristi Noem Fired

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/02847daa-e256-4b02-9ad9-b40600111b7d/transcript

In Episode 5 of The Sixth Bureau, a series from The Big Take,a spy from China’s Ministry of State Security travels to an overseas meeting with a valuable source. He has no idea he is walking into a trap that the FBI has been setting up for months. 

The Sixth Bureau from Bloomberg News follows an MSS intelligence officer whose mission was to acquire the crown jewels of American aerospace companies. With aliases, blackmail and the occasional break-in, he targeted corporate giants. That is, until his sloppiness — and a cunning FBI sting — led to a stunning reversal: Xu Yanjun became the first Chinese intelligence officer ever convicted on American soil.

The Sixth Bureau is the story of superpowers, their secrets and how one Chinese spy got caught. Listen to Episodes 1 - 4 here.

In Episode 5 of&nbsp;The Sixth Bureau, a series from The Big Take, a spy from China&rsquo;s Ministry of State Security travels to an overseas meeting with a valuable source. He has no idea he is walking into a trap that the FBI has been setting up for months. The Sixth Bureau from Bloomberg News follows an MSS intelligence officer whose mission was to acquire the crown jewels of American aerospace companies. With aliases, blackmail and the occasional break-in, he targeted corporate giants. That is, until his sloppiness &mdash; and a cunning FBI sting &mdash; led to a stunning reversal: Xu Yanjun became the first Chinese intelligence officer ever convicted on American soil. The Sixth Bureau is the story of superpowers, their secrets and how one Chinese spy got caught. Listen to Episodes 1 - 4 <a href="https://www.bloomberg.com/features/the-sixth-bureau/">here</a>.

The Sixth Bureau Episode 5: One Way In, One Way Out 

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/a58414a8-ff6e-4d30-a4fd-b40600064822/transcript

The war in the Middle East is rattling global oil markets, raising the risk of supply disruptions and price shocks for energy‑hungry Asian economies.

On today’s Big Take Asia podcast, host K. Oanh Ha speaks with Bloomberg’s Daniel Ten Kate and Fereidun Fesharaki, founder and chairman of FGE, about how tensions involving Iran are being watched by energy markets — and which Asian economies are most exposed if the crisis escalates.

The war in the Middle East is rattling global oil markets, raising the risk of supply disruptions and price shocks for energy‑hungry Asian economies.
On today&rsquo;s Big Take Asia podcast, host K. Oanh Ha speaks with Bloomberg&rsquo;s Daniel Ten Kate and Fereidun Fesharaki, founder and chairman of FGE, about how tensions involving Iran are being watched by energy markets &mdash; and which Asian economies are most exposed if the crisis escalates.

War in Iran Is Exposing Oil Risks Across Asia

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/5c20fcd6-8e2e-4a44-85ca-b404016cfc52/transcript

Earnings Are In. Companies Can’t Hide From Tariffs Anymore

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