Cocoa has never been so expensive. That’s bad news for players all along the chocolate supply chain: from farmers, to chocolatiers, to chocolate lovers. 

In today’s episode, we travel from a farm in Ghana to Jacques Torres’ chocolate factory in Brooklyn, on a journey to understand the origins of a cocoa crisis – and what it means for the future of chocolate.

Cocoa has never been so expensive. That’s bad news for players all along the chocolate supply chain: from farmers, to chocolatiers, to chocolate lovers. 
In today’s episode, we travel from a farm in Ghana to Jacques Torres’ chocolate factory in Brooklyn, on a journey to understand the origins of a cocoa crisis – and what it means for the future of chocolate.

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

The Cocoa Shortage Rocking the Chocolate World

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/466019f6-9f24-4034-920c-b155016e0d2a/transcript

In a nomination hearing before the Senate Banking Committee, Fed Chair nominee Kevin Warsh fielded an array of questions about his personal finances and economic policy views. There was even a reference to Seinfeld. But one topic loomed largest: the independence of the Fed.

On today’s Big Take podcast, host David Gura and Bloomberg’s Michael McKee go inside Tuesday’s hearing, where Warsh vowed he wouldn’t be a “sock puppet” for President Trump and laid out some of his vision for the Fed’s future if confirmed.

Read more: Warsh Pledges Independence But Dodges Questions on Rates

Further listening: How Kevin Warsh Could Shape the Fed

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

Hosted by David Gura; Produced by David Fox; Reported by Michael McKee; Edited by Aaron Edwards.

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

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

In a nomination hearing before the Senate Banking Committee, Fed Chair nominee Kevin Warsh fielded an array of questions about his personal finances and economic policy views. There was even a reference to Seinfeld. But one topic loomed largest: the independence of the Fed.
On today&rsquo;s Big Take podcast, host David Gura and Bloomberg&rsquo;s Michael McKee go inside Tuesday&rsquo;s hearing, where Warsh vowed he wouldn&rsquo;t be a &ldquo;sock puppet&rdquo; for President Trump and laid out some of his vision for the Fed&rsquo;s future if confirmed.
Read more: <a href="https://www.bloomberg.com/news/articles/2026-04-21/warsh-says-fed-needs-a-new-framework-for-dealing-with-inflation">Warsh Pledges Independence But Dodges Questions on Rates</a>
Further listening: <a href="https://podcasts.apple.com/us/podcast/how-kevin-warsh-could-shape-the-fed/id1578096201?i=1000747412390">How Kevin Warsh Could Shape the Fed</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>
Hosted by David Gura; Produced by David Fox; Reported by Michael McKee; Edited by Aaron Edwards.
Fact-checking by Eleanor Harrison-Dengate, Julia Press; Engineering by Alex Sugiura.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

Kevin Warsh Makes His Case for Fed Chair

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/772d0760-f4e4-4789-b0b5-b4340152777c/transcript

India wants to become a manufacturing powerhouse to rival China — but its reliance on the Chinese supply chain for things like batteries and semiconductors makes for a complex and exceedingly difficult puzzle to untangle.

On today's Big Take Asia Podcast, host Oanh Ha and Bloomberg’s Alisha Sachdev on how corporate India is struggling to navigate this unique geopolitical landscape.

Read more: China’s Control Over Tech Is Threatening India’s Manufacturing Dreams

Further listening: Asia Is Bearing the Brunt of the Iran War Energy Crisis

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

Hosted by Oanh Ha; Produced by Yang Yang; Reported by Alisha Sachdev; Edited by Patrick Hirsch; Fact-checking by Eleanor Harrison-Dengate; Engineering by Taka Yasuzawa and Alex Sugiura Deputy Executive Producer: Julia Weaver Executive Producer: Nicole Beemsterboer.

India wants to become a manufacturing powerhouse to rival China &mdash; but its reliance on the Chinese supply chain for things like batteries and semiconductors makes for a complex and exceedingly difficult puzzle to untangle.
On today's Big Take Asia Podcast, host Oanh Ha and Bloomberg&rsquo;s Alisha Sachdev on how corporate India is struggling to navigate this unique geopolitical landscape.
Read more:&nbsp;<a href="https://www.bloomberg.com/news/features/2026-04-14/china-s-controls-on-battery-ev-tech-hurt-india-s-manufacturing-ambitions">China&rsquo;s Control Over Tech Is Threatening India&rsquo;s Manufacturing Dreams</a>
Further listening:&nbsp;<a href="https://podcasts.apple.com/hk/podcast/asia-is-bearing-the-brunt-of-the-iran-war-energy-crisis/id1746141911?i=1000755828464">Asia Is Bearing the Brunt of the Iran War Energy Crisis</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>
Hosted by Oanh Ha; Produced by Yang Yang; Reported by Alisha Sachdev; Edited by Patrick Hirsch; Fact-checking by Eleanor Harrison-Dengate; Engineering by Taka Yasuzawa and Alex Sugiura Deputy Executive Producer: Julia Weaver Executive Producer: Nicole Beemsterboer.

China’s Tech Grip Threatens India’s Manufacturing Ambitions

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/8637c39e-4504-41ed-9f61-b433012d9038/transcript

President Trump said Monday the US will not be rushed into a “bad deal" with Iran. But he also said he was unlikely to extend the ceasefire that expires Wednesday. Meanwhile, the two sides seemed to disagree on whether they’d resume negotiations to end the conflict this week. 

On today’s Big Take, host Stacey Vanek Smith and Bloomberg White House Correspondent Kate Sullivan break down what we know about a potential second round of negotiations between the US and Iran, the sticking points driving the latest escalation and where the White House could go from here. 

Read more: Trump Aims to Seal Iran Deal, Says Truce Extension Unlikely 

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

Hosted by Stacey Vanek Smith; Produced by Rachael Lewis-Krisky and David Fox; Reported by Kate Sullivan; Edited by Tracey Samuelson.

Fact-checking by Julia Press and David Fox; Engineering by Katie McMurran.

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

President Trump said Monday the US will not be rushed into a &ldquo;bad deal" with Iran. But he also said he was unlikely to extend the ceasefire that expires Wednesday. Meanwhile, the two sides seemed to disagree on whether they&rsquo;d resume negotiations to end the conflict this week.&nbsp;
On today&rsquo;s Big Take, host Stacey Vanek Smith and Bloomberg White House Correspondent Kate Sullivan break down what we know about a potential second round of negotiations between the US and Iran, the sticking points driving the latest escalation and where the White House could go from here.&nbsp;
Read more: <a href="https://www.bloomberg.com/news/articles/2026-04-20/trump-says-iran-truce-extension-unlikely-hormuz-to-stay-blocked?srnd=homepage-americas">Trump Aims to Seal Iran Deal, Says Truce Extension Unlikely </a>
We have a special Bloomberg subscription offer for podcast listeners at <a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Hosted by Stacey Vanek Smith; Produced by Rachael Lewis-Krisky and David Fox; Reported by Kate Sullivan; Edited by Tracey Samuelson.
Fact-checking by Julia Press and David Fox; Engineering by Katie McMurran.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

Can the US and Iran Break Their Deadlock?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/a1254279-223e-4422-b454-b432015e92ee/transcript

The Cocoa Shortage Rocking the Chocolate World

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