In Episode 2 of The Sixth Bureau, a limited-run series from The Big Take, we learn how China’s Ministry of State Security recruits experts in the West — and why intelligence officers shouldn’t keep their secrets backed up to the cloud.

In Episode 2 of The Sixth Bureau, a limited-run series from The Big Take, we learn how China&rsquo;s Ministry of State Security recruits experts in the West &mdash; and why intelligence officers shouldn&rsquo;t keep their secrets backed up to the cloud.

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

We’re taking The Big Take to Asia. Each week, Bloomberg’s Oanh Ha tells a story from the home of the world's most dynamic economies - and the markets, tycoons and businesses that drive the ever-shifting region.

We’re taking The Big Take to Asia. Each week, Bloomberg’s Oanh Ha tells a story from the home of the world's most dynamic economies - and the markets, tycoons and businesses that drive the ever-shifting region.

Big Take Asia

The Sixth Bureau, Episode 2: The Spy’s Diary

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/05b0e56a-e45c-47d5-bc34-b3f0004e16c4/transcript

It’s an open secret that the Chinese government has engaged in a global campaign to acquire intellectual property from foreign rivals. At the center of that campaign is the Ministry of State Security, China’s elusive intelligence agency. The US has apprehended hundreds of people accused of giving information to the MSS, but the agency’s inner workings have been a mystery — until now.

Today, we’re bringing you Episode 1 of The Sixth Bureau, a limited-run series from The Big Take. The series 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. This limited-run series will publish on Fridays in The Big Take. 

It&rsquo;s an open secret that the Chinese government has engaged in a global campaign to acquire intellectual property from foreign rivals. At the center of that campaign is the Ministry of State Security, China&rsquo;s elusive intelligence agency. The US has apprehended hundreds of people accused of giving information to the MSS, but the agency&rsquo;s inner workings have been a mystery &mdash; until now.
Today, we&rsquo;re bringing you Episode 1 of The Sixth Bureau, a limited-run series from The Big Take. The series 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&nbsp;is the story of superpowers, their secrets and how one Chinese spy got caught. This limited-run series will publish on Fridays in The Big Take.&nbsp;

The Sixth Bureau, Episode 1: Your Friend From Nanjing

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/37243ecd-d65c-4551-8b5b-b3ef016b2a67/transcript

In July, American parents will be eligible to open Trump Accounts on behalf of their children. The administration touts these investment accounts as a way to help the next generation achieve the American dream. But are they the best way to save for college, home-ownership or retirement? And who stands to benefit most?

On today’s Big Take podcast, Bloomberg’s Ben Steverman walks host Sarah Holder through the advantages — and criticisms — of this new program. Plus, economist Darrick Hamilton, whose federal “baby bonds” proposal inspired the Trump Accounts, weighs in on the immediate and long-term impacts the accounts could have on families and on the US economy.

Read more: ‘Trump Accounts’ for Kids Get Another Billionaire Boost. What to Know.

Hosted by Sarah Holder; Produced by Julia Press; Reported by Ben Steverman; Edited by 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.

In July, American parents will be eligible to open Trump Accounts on behalf of their children. The administration touts these investment accounts as a way to help the next generation achieve the American dream. But are they the best way to save for college, home-ownership or retirement? And who stands to benefit most?
On today&rsquo;s Big Take podcast, Bloomberg&rsquo;s Ben Steverman walks host Sarah Holder through the advantages &mdash; and criticisms &mdash; of this new program. Plus, economist Darrick Hamilton, whose federal &ldquo;baby bonds&rdquo; proposal inspired the Trump Accounts, weighs in on the immediate and long-term impacts the accounts could have on families and on the US economy.
Read more:&nbsp;<a href="https://www.bloomberg.com/news/articles/2025-06-13/how-trump-accounts-with-1-000-baby-bonus-would-work?srnd=undefined">&lsquo;Trump Accounts&rsquo; for Kids Get Another Billionaire Boost. What to Know.</a>
Hosted by Sarah Holder; Produced by Julia Press; Reported by Ben Steverman; Edited by 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.

Trump Accounts Promise Free Money. Is There a Catch?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/15bfa5cf-5fe0-41bc-b3c5-b3ef015fda11/transcript

The latest jobs report from the US Bureau of Labor Statistics is a mixed bag. January’s numbers came in much stronger than expected — but revisions on 2025 data showed a weaker year than previously realized.

The report comes on the heels of a number of high-profile job cut announcements, including at Amazon, the Washington Post and Nike.

On today’s Big Take podcast, host Sarah Holder and Bloomberg US economy editor Molly Smith sift through the numbers and discuss the state of the labor market.

Hosted by Sarah Holder; Produced by David Fox and Julia Press; Reported by Molly Smith Edited by Jeffrey Grocott.

Fact-checking by Eleanor Harrison-Denate, Rachael Lewis-Krisky; Engineering by Katie McMurran.

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

The latest jobs report from the US Bureau of Labor Statistics is a mixed bag. January&rsquo;s numbers came in much stronger than expected &mdash; but revisions on 2025 data showed a weaker year than previously realized.
The report comes on the heels of a number of high-profile job cut announcements, including at Amazon, the Washington Post and Nike.
On today&rsquo;s Big Take podcast, host Sarah Holder and Bloomberg US economy editor Molly Smith sift through the numbers and discuss the state of the labor market.
Hosted by Sarah Holder; Produced by David Fox and Julia Press; Reported by Molly Smith Edited by Jeffrey Grocott.
Fact-checking by Eleanor Harrison-Denate, Rachael Lewis-Krisky; Engineering by Katie McMurran.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

Finally, Some Good News on US Jobs

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/a065eb97-bfa8-416d-b31b-b3ee0160439c/transcript

The Sixth Bureau, Episode 2: The Spy’s Diary

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