The ceasefire between the US and Iran is set to expire next week and the US is trying a different tactic to pressure Iran into a deal: a naval blockade.

On today’s Big Take podcast, Bloomberg Economics defense lead Becca Wasser and Bloomberg Middle East Breaking News editor Patrick Sykes join Sarah Holder to break down how the US’s naval blockade of the Strait of Hormuz works, what could happen if it’s tested and how this latest pressure move could influence another round of Iran-US peace talks.

Hosted by Sarah Holder; Produced by David Fox; Reported by Becca Wasser and Patrick Sykes; Edited by Paddy Hirsch.

Fact-checking by Rachael Lewis-Krisky and Laura Newcombe; Engineering by Alex Sugiura.

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

The ceasefire between the US and Iran is set to expire next week and the US is trying a different tactic to pressure Iran into a deal: a naval blockade.
On today&rsquo;s Big Take podcast, Bloomberg Economics defense lead Becca Wasser and Bloomberg Middle East Breaking News editor Patrick Sykes join Sarah Holder to break down how the US&rsquo;s naval blockade of the Strait of Hormuz works, what could happen if it&rsquo;s tested and how this latest pressure move could influence another round of Iran-US peace talks.
Hosted by Sarah Holder; Produced by David Fox; Reported by Becca Wasser and Patrick Sykes; Edited by Paddy Hirsch.
Fact-checking by Rachael Lewis-Krisky and Laura Newcombe; Engineering by Alex Sugiura.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

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

Trump’s Plan to Open the Strait of Hormuz? Close It

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/d8f5cb10-142b-471a-a39a-b42c015d7e95/transcript

The online shopping app Phia raised over $43 million and captured media attention for its A-list investors and its high-profile co-founders — Phoebe Gates, daughter of Bill Gates, and her college roommate and podcast co-host Sophia Kianni.

But Bloomberg reporting suggests that Phia was pushing features that took credit for sales it didn’t drive. On today’s Big Take podcast, Bloomberg technology editor Olivia Solon shares her reporting on Phia and what the startup’s founders may have known about those features.

Read more: 
Gates Heir’s Shopping App Claimed Sales It Didn’t Drive
Phoebe Gates Knew Phia Shopping App Took Credit for Sales It Didn’t Drive

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

Hosted by Sarah Holder; Produced by Julia Press; Reported by Olivia Solon.

Fact-checking by Victor Swezey and Brunella Tipismana Urbano; Engineering by Alex Sugiura and Emma Munger.

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

The online shopping app Phia raised over $43 million and captured media attention for its A-list investors and its high-profile co-founders &mdash; Phoebe Gates, daughter of Bill Gates, and her college roommate and podcast co-host Sophia Kianni.
But Bloomberg reporting suggests that Phia was pushing features that took credit for sales it didn&rsquo;t drive. On today&rsquo;s Big Take podcast, Bloomberg technology editor Olivia Solon shares her reporting on Phia and what the startup&rsquo;s founders may have known about those features.
Read more:&nbsp;
<ul>
<li aria-level="1"><a href="https://www.bloomberg.com/news/articles/2026-07-09/gates-heir-s-shopping-app-took-credit-for-sales-it-didn-t-drive">Gates Heir&rsquo;s Shopping App Claimed Sales It Didn&rsquo;t Drive</a></li>
<li aria-level="1"><a href="https://www.bloomberg.com/news/articles/2026-08-11/phia-app-co-founders-pushed-for-features-taking-credit-for-sales-it-didn-t-drive?srnd=undefined">Phoebe Gates Knew Phia Shopping App Took Credit for Sales It Didn&rsquo;t Drive</a></li>
</ul>
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 Sarah Holder; Produced by Julia Press; Reported by Olivia Solon.
Fact-checking by Victor Swezey and Brunella Tipismana Urbano; Engineering by Alex Sugiura and Emma Munger.
Senior Producer and Editor: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

The Controversy at Phia, Phoebe Gates’ Buzzy Startup

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/aa408535-c169-46d7-bb29-b4a3014b56c5/transcript

US Treasury Secretary Scott Bessent’s move to prop up the yen was as surprising as its impact was fleeting. By Monday, the yen lost half of its gains since last month’s intervention, raising questions about what comes next.

On today’s Big Take podcast, Bloomberg’s Daniel Flatley and Chris Anstey join David Gura to break down Bessent’s unorthodox currency strategy and to explore how far Bessent might be willing to go to support another country’s currency.

Read more:

How Bessent Brings a ‘Buy-Side’ Mindset to Economic Statecraft

Behind Bessent Moves, Wall Street Sees a Bond-Market Angst

Listen More:

Why a Weak Yen Is America’s Problem

Carry Trades, Explained

Hosted by David Gura; Produced by Laura Newcombe and David Fox; Reported by Daniel Flatley and Chris Anstey; Edited by Jeffrey Grocott.

Fact-checking by Victor Swezey and Brunella Tipismana Urbano; Engineering by Emma Munger.

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

US Treasury Secretary Scott Bessent&rsquo;s move to prop up the yen was as surprising as its impact was fleeting. By Monday, the yen lost half of its gains since last month&rsquo;s intervention, raising questions about what comes next.
On today&rsquo;s Big Take podcast, Bloomberg&rsquo;s Daniel Flatley and Chris Anstey join David Gura to break down Bessent&rsquo;s unorthodox currency strategy and to explore how far Bessent might be willing to go to support another country&rsquo;s currency.
Read more:
<a href="https://www.bloomberg.com/news/newsletters/2026-08-07/how-bessent-brings-a-buy-side-mindset-to-economic-statecraft">How Bessent Brings a &lsquo;Buy-Side&rsquo; Mindset to Economic Statecraft</a>
<a href="https://www.bloomberg.com/news/articles/2026-08-09/behind-bessent-moves-wall-street-sees-sign-of-bond-market-angst">Behind Bessent Moves, Wall Street Sees a Bond-Market Angst</a>
Listen More:
<a href="https://podcasts.apple.com/us/podcast/why-a-weak-yen-is-americas-problem/id1578096201?i=1000779936408">Why a Weak Yen Is America&rsquo;s Problem</a>
<a href="https://podcasts.apple.com/us/podcast/carry-trades-explained/id1746141911?i=1000668218834">Carry Trades, Explained</a>
Hosted by David Gura; Produced by Laura Newcombe and David Fox; Reported by Daniel Flatley and Chris Anstey; Edited by Jeffrey Grocott.
Fact-checking by Victor Swezey and Brunella Tipismana Urbano; Engineering by Emma Munger.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

The Hedge Fund Toolkit Behind the Yen Intervention

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/1d212339-5e2d-4b50-b9f5-b4a20150b7d8/transcript

Oh, the things you can find with an inquisitive mind – and a metal detector.

Today we’re bringing you Chapter 1 of Our Town, a limited-run series from The Big Take, hosted by Meribah Knight with Bloomberg’s Susan Berfield. The series tells the story of a battle over identity fought on small town soil, where acreage, heritage, and what it means to be an American are all up for grabs. 

The limited-run series will publish on Fridays in The Big Take. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Hosted by Meribah Knight with Susan Berfield  Produced by: Rebecca Laks with Julia Weaver and David Fox and help from Laura Newcombe Edited by: Ken Armstrong with Rebecca Laks Original Score and Mixing by: Alex Sugiura Fact-checking by: Annika Robbins Executive Producer: Nicole Beemsterboer 

Oh, the things you can find with an inquisitive mind &ndash; and a metal detector. Today we&rsquo;re bringing you Chapter 1 of Our Town, a limited-run series from The Big Take, hosted by Meribah Knight with Bloomberg&rsquo;s Susan Berfield. The series tells the story of a battle over identity fought on small town soil, where acreage, heritage, and what it means to be an American are all up for grabs.&nbsp;
The limited-run series will publish on Fridays in&nbsp;The Big Take.&nbsp;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 Meribah Knight with Susan Berfield&nbsp; Produced by: Rebecca Laks with Julia Weaver and David Fox and help from Laura Newcombe Edited by: Ken Armstrong with Rebecca Laks Original Score and Mixing by: Alex Sugiura Fact-checking by: Annika Robbins Executive Producer: Nicole Beemsterboer&nbsp;

Our Town Chapter 1: Sometimes You Find Silver

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/093910dc-535d-4831-b4d4-b49e0147db52/transcript

Trump’s Plan to Open the Strait of Hormuz? Close It

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