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.The Sixth Bureau from Bloomberg News follows an MSS intelligence officer whose mission was to snatch the crown jewels of American aerospace companies. With aliases, blackmail and the occasional break-in, he targeted corporate giants. In the end though, After years of work, 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.

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 &ndash;&nbsp; until now.The Sixth Bureau from Bloomberg News follows an MSS intelligence officer whose mission was to snatch the crown jewels of American aerospace companies. With aliases, blackmail and the occasional break-in, he targeted corporate giants. In the end though, After years of work, his sloppiness &ndash; and a cunning FBI sting &ndash; 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.

The Sixth Bureau

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.

With a Ceasefire Deadline Looming, 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

Three years ago, Bob Lee, a tech executive famous for creating Cash App, was found stabbed in San Francisco. His killing set off a wave of online fury. Reporter Shawn Wen takes us back to the turbulent days before his killer was arrested, when misinformation and rumors ran rampant. Several tech industry leaders decried violent crime in San Francisco, including David Sacks, who “bet dollars to dimes” that Lee was stabbed by “a psychotic homeless person,” and Elon Musk, who called the city “horrific.”

Three years ago, Bob Lee, a tech executive famous for creating Cash App, was found stabbed in San Francisco. His killing set off a wave of online fury. Reporter Shawn Wen takes us back to the turbulent days before his killer was arrested, when misinformation and rumors ran rampant. Several tech industry leaders decried violent crime in San Francisco, including David Sacks, who &ldquo;bet dollars to dimes&rdquo; that Lee was stabbed by &ldquo;a psychotic homeless person,&rdquo; and Elon Musk, who called the city &ldquo;horrific.&rdquo;

Foundering: Tech Executive’s Death Prompts San Francisco Doom Loop Panic

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/b829b30a-c8ab-46c3-b94c-b42f015dec2a/transcript

The Strait of Hormuz is now open. In a social media post Friday morning, Iran’s Foreign Minister wrote that Iran will be letting ships through the vital waterway for the duration of a 10-day ceasefire in Lebanon. Oil prices fell, and President Trump celebrated. But Iran’s announcement came with a big caveat: Travel must use a “coordinated route,” specified by Iran.

On today’s Big Take, host David Gura and Bloomberg’s Middle East breaking news editor, Patrick Sykes, talk through Iran’s dramatic reversal, how open the Strait of Hormuz really is — and how long the latest ceasefire might hold.

This is a developing story. We are live blogging at Bloomberg.com with the latest from across the globe.

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

Hosted by David Gura; Produced by Rachael Lewis-Krisky and David Fox; Reported by Patrick Sykes; Edited by Tracey Samuelson.

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

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

The Strait of Hormuz is now open. In a social media post Friday morning, Iran&rsquo;s Foreign Minister wrote that Iran will be letting ships through the vital waterway for the duration of a 10-day ceasefire in Lebanon. Oil prices fell, and President Trump celebrated. But Iran&rsquo;s announcement came with a big caveat: Travel must use a &ldquo;coordinated route,&rdquo; specified by Iran.
On today&rsquo;s Big Take, host David Gura and Bloomberg&rsquo;s Middle East breaking news editor, Patrick Sykes, talk through Iran&rsquo;s dramatic reversal, how open the Strait of Hormuz really is &mdash; and how long the latest ceasefire might hold.
This is a developing story. We are <a href="https://www.bloomberg.com/news/live-blog/2026-04-17/iran-war-latest">live blogging</a> at Bloomberg.com with the latest from across the globe.
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 David Gura; Produced by Rachael Lewis-Krisky and David Fox; Reported by Patrick Sykes; Edited by Tracey Samuelson.
Fact-checking by Eleanor Harrison-Dengate and Laura Newcombe; Engineering by Alex Sugiura.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

The Strait of Hormuz Was (Briefly) Open. Now What? 

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/43a4992c-dda4-4885-b612-b42f0148a350/transcript

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

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