First Republic Bank is the latest financial institution to fail amid turmoil across the industry. Meanwhile, inflation is still high. Layoffs are rocking some industries. And labor shortages are throttling others. So… are we about to face the recession that economists have been predicting for months now? Today, Bloomberg reporter Reade Pickert and senior executive editor Chris Nagi read the tea leaves on where the economy is headed.

Read more: First Republic Becomes Second-Largest Ever US Bank Failure.

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.

First Republic Bank is the latest financial institution to fail amid turmoil across the industry. Meanwhile, inflation is still high. Layoffs are rocking some industries. And labor shortages are throttling others. So… are we about to face the recession that economists have been predicting for months now? Today, Bloomberg reporter <a href="https://www.bloomberg.com/authors/ATR8A0XQZX8/reade-pickert">Reade Pickert</a> and senior executive editor <a href="https://www.bloomberg.com/authors/AFkTJ1toC4E/chris-nagi">Chris Nagi</a> read the tea leaves on where the economy is headed.
Read more: <a href="https://www.bloomberg.com/news/articles/2023-05-01/first-republic-ranks-as-second-largest-ever-us-bank-failure">First Republic Becomes Second-Largest Ever US Bank Failure</a>.
Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: <a href="https://bloom.bg/3F3EJAK">https://bloom.bg/3F3EJAK</a> 
Have questions or comments for Wes and the team? Reach us at <a href="mailto:bigtake@bloomberg.net">bigtake@bloomberg.net</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

No, Really. Are We Finally Heading Toward a Recession?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/7a7312b6-e9c5-4583-b11d-aff701500dfe/transcript

The Premier League has found its top-ranked club, the star-studded and highly decorated Manchester City, guilty of artificially boosting financial results by more than £900 million over nine years. The franchise used “sham” contracts to build an unprecedented competitive advantage. The team has until Oct. 2 to respond to the charges.

On today’s Big Take podcast, David Gura and UK-based Business of Sports Editor Giles Turner unpack the cheating allegations against Man City and how the scandal could reshape the entire league.

Read more: Man City Broke Rules With ‘Sham’ Contracts, League Finds

Popular on Bloomberg: Who’s Who at Jane Street

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Host: David Gura; Guest: Giles Turner; Produced by Julia Press and David Fox; Edited by Naomi Shavin; Engineering by Emma Munger.

The Premier League has found its top-ranked club, the star-studded and highly decorated Manchester City, guilty of artificially boosting financial results by more than &pound;900 million over nine years. The franchise used &ldquo;sham&rdquo; contracts to build an unprecedented competitive advantage. The team has until Oct. 2 to respond to the charges.
On today&rsquo;s Big Take podcast, David Gura and UK-based Business of Sports Editor Giles Turner unpack the cheating allegations against Man City and how the scandal could reshape the entire league.
Read more: <a href="https://www.bloomberg.com/news/articles/2026-09-29/man-city-broke-rules-with-sham-contracts-premier-league-finds?srnd=undefined">Man City Broke Rules With &lsquo;Sham&rsquo; Contracts, League Finds</a>
Popular on Bloomberg: <a href="https://www.bloomberg.com/features/2026-jane-street-guide-power-players/">Who&rsquo;s Who at Jane Street</a>
We have a special Bloomberg subscription offer for podcast listeners at&nbsp;<a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Host: David Gura; Guest: Giles Turner; Produced by Julia Press and David Fox; Edited by Naomi Shavin; Engineering by Emma Munger.

The Man City Scandal Rocking the Premier League

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/abae279e-85d6-4fc5-82a6-b4d6014e5ef5/transcript

The 2026 midterms are on track to become the most expensive elections in US history, with Republican Senate candidates raking in hundreds of millions from PACs and Democrats riding a growing wave of individual donations. So who has the edge?

On today’s Big Take podcast, Bill Faries, who oversees Bloomberg’s midterm coverage, and campaign finance reporter Bill Allison join Sarah Holder to break down how each party is raising and spending cash and what it means for control of the Senate — and for the coming presidential race.

Read more: Shifting Senate Map Is Fueling Most Expensive Election Ever


Further Listening: Why Everyone Is Talking About High Diesel Prices 

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Host: Sarah Holder; Guests: Bill Allison and Bill Faries; Produced by David Fox and Julia Press; Edited by Jeffrey Grocott; Engineering by Sean Carter.

The 2026 midterms are on track to become the most expensive elections in US history, with Republican Senate candidates raking in hundreds of millions from PACs and Democrats riding a growing wave of individual donations. So who has the edge?
On today&rsquo;s Big Take podcast, Bill Faries, who oversees Bloomberg&rsquo;s midterm coverage, and campaign finance reporter Bill Allison join Sarah Holder to break down how each party is raising and spending cash and what it means for control of the Senate &mdash; and for the coming presidential race.
Read more: <a href="https://www.bloomberg.com/news/articles/2026-09-28/shifting-senate-map-is-fueling-most-expensive-us-election-ever?srnd=undefined">Shifting Senate Map Is Fueling Most Expensive Election Ever </a>
Further Listening:&nbsp;<a href="https://www.bloomberg.com/news/articles/2026-09-23/diesel-price-spike-hits-farms-food-prices-battleground-states">Why Everyone Is Talking About High Diesel Prices </a>
We have a special Bloomberg subscription offer for podcast listeners at <a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Host:&nbsp;Sarah Holder; Guests: Bill Allison and Bill Faries; Produced by David Fox and Julia Press; Edited by Jeffrey Grocott; Engineering by Sean Carter.

Can $700 Million Buy Republicans the US Senate? 

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/e08555ea-559c-42e6-820d-b4d5014257a9/transcript

China is ramping up an ongoing effort to shore up local government budgets and fund AI data centers with tax revenue from its richest citizens. Billionaires across the country are seeing bills hit their doorstep, and one major deadline to pay up is just weeks away.

On today’s Big Take podcast, host David Gura talks to Bloomberg’s Lulu Chen about why Beijing is enforcing and rewriting its tax rules, and the measures some wealthy citizens are taking to pay up or fight back.

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns on the Bloomberg Billionaires Index.

Read more: China’s Tax Grab Squeezes Rich Elite Harder Than Ever


Further listening: China Tightens Its Grip on Billions in Offshore Wealth

Hosted by David Gura; Guest: Lulu Chen; Produced by Naomi Ng; Edited by Aaron Edwards, Engineering by Greg Tock

China is ramping up an ongoing effort to shore up local government budgets and fund AI data centers with tax revenue from its richest citizens. Billionaires across the country are seeing bills hit their doorstep, and one major deadline to pay up is just weeks away.
On today&rsquo;s Big Take podcast, host David Gura talks to Bloomberg&rsquo;s Lulu Chen about why Beijing is enforcing and rewriting its tax rules, and the measures some wealthy citizens are taking to pay up or fight back. View <a href="https://www.bloomberg.com/billionaires/profiles/elon-r-musk/">profiles</a> for each of the world&rsquo;s <a href="https://www.bloomberg.com/billionaires/">500 richest people</a>, see the <a href="https://www.bloomberg.com/billionaires/movers/">biggest movers</a>, and compare <a href="https://www.bloomberg.com/billionaires/compare-individuals/">fortunes</a> or track <a href="https://www.bloomberg.com/billionaires/compare-groups/">returns</a> on the Bloomberg Billionaires Index.
Read more: <a href="https://www.bloomberg.com/news/features/2026-09-27/china-s-tax-crackdown-squeezes-billionaires-harder-than-ever">China&rsquo;s Tax Grab Squeezes Rich Elite Harder Than Ever </a>
Further listening:&nbsp;<a href="https://podcasts.apple.com/us/podcast/big-take/id1578096201?i=1000771915528">China Tightens Its Grip on Billions in Offshore Wealth</a>
Hosted by David Gura; Guest: Lulu Chen; Produced by Naomi Ng; Edited by Aaron Edwards, Engineering by Greg Tock

China’s New Message to Its Billionaires: Pay Up

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/4b0595dc-1f00-479e-8476-b4d4016da9e2/transcript

No, Really. Are We Finally Heading Toward a Recession?

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