It’s bonus season on Wall Street. But if you work for a bank, you know that the number you’re quoted is almost never the number you get when it comes time for that bonus to pay out.

On today’s Big Take podcast, global finance reporter Laura Noonan shares what she learned by crunching the numbers on which banks deliver more or less than they promised.

Read more: How Much Your Wall Street Bonus Is Really Worth

It&rsquo;s bonus season on Wall Street. But if you work for a bank, you know that the number you&rsquo;re quoted is almost never the number you get when it comes time for that bonus to pay out.
On today&rsquo;s Big Take podcast, global finance reporter Laura Noonan shares what she learned by crunching the numbers on which banks deliver more or less than they promised.
Read more:&nbsp;<a href="https://www.bloomberg.com/graphics/2025-bank-bonuses-real-value/">How Much Your Wall Street Bonus Is Really Worth</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

How Much Is a Wall Street Bonus Really Worth?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/41cb7bf8-ca12-4a08-9162-b27d01451b3d/transcript

In the first 24 hours of US attacks on Iran, the scale of firepower more than doubled that of the US’ initial assault on Iraq in 2003 — an expansion made possible by the Pentagon’s embrace of AI. Just hours before the attack, the US parted ways with AI company Anthropic, after the company raised concerns over how the Defense Department might use its tools. The Pentagon says it wants the ability to use the tools for “all lawful purposes.”

On today’s Big Take podcast, host David Gura sits down with Bloomberg national security and tech reporter Katrina Manson — author of the upcoming book Project Maven: A Marine Colonel, His Team, and the Dawn of AI Warfare— and Bloomberg senior editor Mike Shepard to discuss how the US is integrating AI into its warfighting machine and the guardrails in place for the military as it utilizes AI technology to make life-and-death decisions.

Read more: ‘God, It’s Terrifying’: How the Pentagon Got Hooked on AI War Machines

Katrina Manson’s book isProject Maven: A Marine Colonel, His Team, and the Dawn of AI Warfare.

Hosted by David Gura; Produced by Julia Press; Reported by Katrina Manson and Michael Shepard; Edited by Jeffrey Grocott.

Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

In the first 24 hours of US attacks on Iran, the scale of firepower more than doubled that of the US&rsquo; initial assault on Iraq in 2003 &mdash; an expansion made possible by the Pentagon&rsquo;s embrace of AI. Just hours before the attack, the US parted ways with AI company Anthropic, after the company raised concerns over how the Defense Department might use its tools. The Pentagon says it wants the ability to use the tools for &ldquo;all lawful purposes.&rdquo;
On today&rsquo;s Big Take podcast, host David Gura sits down with Bloomberg national security and tech reporter Katrina Manson &mdash; author of the upcoming book Project Maven: A Marine Colonel, His Team, and the Dawn of AI Warfare &mdash; and Bloomberg senior editor Mike Shepard to discuss how the US is integrating AI into its warfighting machine and the guardrails in place for the military as it utilizes AI technology to make life-and-death decisions.
Read more: <a href="https://www.bloomberg.com/news/features/2026-03-12/iran-war-tests-project-maven-us-ai-war-strategy?srnd=undefined">&lsquo;God, It&rsquo;s Terrifying&rsquo;: How the Pentagon Got Hooked on AI War Machines</a>
Katrina Manson&rsquo;s book is <a href="https://wwnorton.com/books/project-maven">Project Maven: A Marine Colonel, His Team, and the Dawn of AI Warfare</a>.
Hosted by David Gura; Produced by Julia Press; Reported by Katrina Manson and Michael Shepard; Edited by Jeffrey Grocott.
Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

Iran War Spotlights the Pentagon’s AI Strategy

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/6aaf432c-f5b5-4e55-bc2d-b40b01603cfd/transcript

On today’s Big Take podcast, Bloomberg’s Brian Chappatta and Olivia Fishlow unpack the recent tumult in the world of private credit. How cracks formed in this $1.8 trillion market, how companies are trying to tamp down investor anxiety and what it all could mean for the private credit industry’s efforts to get into 401(k)s. 

Read more: Private Credit’s Gate-Crashers Are Forcing Funds Into a Brutal Spot 

Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Reported by Brian Chappatta and Olivia Fishlow; Edited by Naomi Shavin and Tracey Samuelson.

Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

On today&rsquo;s Big Take podcast, Bloomberg&rsquo;s Brian Chappatta and Olivia Fishlow unpack the recent tumult in the world of private credit. How cracks formed in this $1.8 trillion market, how companies are trying to tamp down investor anxiety and what it all could mean for the private credit industry&rsquo;s efforts to get into 401(k)s.&nbsp;
Read more:&nbsp;<a href="https://www.bloomberg.com/news/features/2026-03-08/blackrock-blackstone-confront-withdrawals-as-private-credit-redemptions-surge">Private Credit&rsquo;s Gate-Crashers Are Forcing Funds Into a Brutal Spot</a>&nbsp;
Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Reported by Brian Chappatta and Olivia Fishlow; Edited by Naomi Shavin and Tracey Samuelson.
Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

Why So Many Private Credit Investors Want Out

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/fb8e1d18-91a9-4ff1-a15a-b40a016d3bdd/transcript

After oil soared to nearly $120 per barrel on Sunday, President Donald Trump began to signal that the US had already achieved victory in Iran and could wind down the conflict soon. There was an immediate drop in oil prices — and the entire global economy seemed to sigh in relief.

On today’s Big Take podcast, Stacey Vanek Smith and Bloomberg Opinion’s Javier Blas discuss why the global economy is so sensitive to oil price spikes and how oil prices are ratcheting up both domestic and international pressure on Trump.

Read more: 

Higher Gas Prices Hit Americans Already Hurting From Inflation

This Isn’t an Energy Crisis — at Least Not Yet

Hosted by Stacey Vanek Smith; Produced by David Fox; Reported by Stacey Vanek Smith; Edited by Naomi Shavin.

Fact-checking by Eleanor Harrison-Dengate, Aaron Edwards and Jeff Grocott; Engineering by Alex Sugiura.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

After oil soared to nearly $120 per barrel on Sunday, President Donald Trump began to signal that the US had already achieved victory in Iran and could wind down the conflict soon. There was an immediate drop in oil prices &mdash; and the entire global economy seemed to sigh in relief.
On today&rsquo;s Big Take podcast, Stacey Vanek Smith and Bloomberg Opinion&rsquo;s Javier Blas discuss why the global economy is so sensitive to oil price spikes and how oil prices are ratcheting up both domestic and international pressure on Trump.
Read more:&nbsp;
<a href="https://www.bloomberg.com/news/newsletters/2026-03-09/iran-war-hits-american-drivers-with-gas-price-pain?srnd=undefined">Higher Gas Prices Hit Americans Already Hurting From Inflation</a>
<a href="https://www.bloomberg.com/opinion/articles/2026-03-06/iran-war-oil-price-spikes-aren-t-an-energy-crisis-yet?srnd=undefined">This Isn&rsquo;t an Energy Crisis &mdash; at Least Not Yet</a>
Hosted by Stacey Vanek Smith; Produced by David Fox; Reported by Stacey Vanek Smith;&nbsp;Edited by Naomi Shavin.
Fact-checking by Eleanor Harrison-Dengate, Aaron Edwards and Jeff Grocott;&nbsp;Engineering by Alex Sugiura.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

 What a $100-Per-Barrel Oil Spike Does to the Global Economy

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/6844c743-59ad-4a24-8bac-b409015defff/transcript

How Much Is a Wall Street Bonus Really Worth?

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