Frequent flyer programs began as a way for airlines to build loyalty and fill empty seats. They’ve since morphed into a complex financial ecosystem that’s drawn the ire of even the most savvy consumers and the scrutiny of the US Department of Transportation.

 

Bloomberg’s global aviation editor Benedikt Kammel joins David Gura to talk about points, miles, qualifying trips — and how we got here in the first place.


Read more:The Airline Rewards Game Is Getting Tougher to Win

 

Frequent flyer programs began as a way for airlines to build loyalty and fill empty seats. They&rsquo;ve since morphed into a complex financial ecosystem that&rsquo;s drawn the ire of even the most savvy consumers and the scrutiny of the US Department of Transportation.
&nbsp;
Bloomberg&rsquo;s global aviation editor Benedikt Kammel joins David Gura to talk about points, miles, qualifying trips &mdash; and how we got here in the first place.
 Read more: <a href="https://www.bloomberg.com/graphics/2024-airline-miles-points/">The Airline Rewards Game Is Getting Tougher to Win</a>
&nbsp;

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

Why Are Airline Rewards So Complicated?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/1d0da089-526a-4674-802d-b253014d85c5/transcript

For Beijing, the US capture of Venezuelan President Nicolás Maduro was a mixed bag -- an embarrassing surprise, a wake-up call over its alliances in Latin America and an opening to step up on the world stage, according to Nicholas Burns, the former US ambassador to China.

On today’s Big Take, host David Gura and Ambassador Burns discuss how President Donald Trump’s military actions and threats are reshaping China’s relationships across the Pacific and the Taiwan Strait—and how the so-called “Donroe Doctrine” could ultimately hand China a global edge.

Read more: How Maduro’s Removal Could Help China in Venezuela and Latin America

Hosted by David Gura; Produced by Rachael Lewis-Krisky; Edited by Jeffrey Grocott.

Fact-checking by Yang Yang and Naomi Ng; Engineering by Alex Sugiura.

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

For Beijing, the US capture of Venezuelan President Nicol&aacute;s Maduro was a mixed bag -- an embarrassing surprise, a wake-up call over its alliances in Latin America and an opening to step up on the world stage, according to Nicholas Burns, the former US ambassador to China.
On today&rsquo;s Big Take, host David Gura and Ambassador Burns discuss how President Donald Trump&rsquo;s military actions and threats are reshaping China&rsquo;s relationships across the Pacific and the Taiwan Strait&mdash;and how the so-called &ldquo;Donroe Doctrine&rdquo; could ultimately hand China a global edge.
Read more: <a href="https://www.bloomberg.com/news/newsletters/2026-01-13/how-maduro-s-removal-could-help-china-in-venezuela-and-latin-america?srnd=undefined">How Maduro&rsquo;s Removal Could Help China in Venezuela and Latin America</a>
Hosted by David Gura; Produced by Rachael Lewis-Krisky; Edited by Jeffrey Grocott.
Fact-checking by Yang Yang and Naomi Ng; Engineering by Alex Sugiura.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

The Domino Effect of the ‘Donroe Doctrine’

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/b1a69f55-7c69-4d33-90ac-b3d4016cfacc/transcript

Since the 2008 financial crisis, private equity firms and other large investors have bought hundreds of thousands of homes across the US, expanding their footprint in the American real estate market. But President Trump blindsided the industry with a Truth Social post last week, announcing he would push for a ban on Wall Street investors scooping up single-family homes.

On today’s Big Take podcast, Bloomberg real estate reporter Patrick Clark and Bloomberg CityLab reporter Kriston Capps join host Sarah Holder to explain how big investors got a slice of the US housing market and whether pushing them out would actually put a dent in the country’s affordability crisis.

Editor's Note: Updated to remove reference to Pretium comment.

Read more: 
Trump Bid to Ban Corporate Homebuying Blindsides Wall Street
Trump Targets Institutional Investors in Affordable Housing Push
Wall Street Homebuyers Plan Counter-Offer After Trump Threat

Hosted by Sarah Holder; Produced by Julia Press;Reported by Patrick Clark and Kriston Capps;Edited by Aaron Edwards;Fact-checking by David Fox and Rachael Lewis-Krisky; Engineering by Alex Sugiura; Senior Producer Naomi Shavin; Deputy Executive Producer Julia Weaver; Executive Producer Nicole Beemsterboer

Since the 2008 financial crisis, private equity firms and other large investors have bought hundreds of thousands of homes across the US, expanding their footprint in the American real estate market. But President Trump blindsided the industry with a Truth Social post last week, announcing he would push for a ban on Wall Street investors scooping up single-family homes.
On today&rsquo;s Big Take podcast, Bloomberg real estate reporter Patrick Clark and Bloomberg CityLab reporter Kriston Capps join host Sarah Holder to explain how big investors got a slice of the US housing market and whether pushing them out would actually put a dent in the country&rsquo;s affordability crisis.
Editor's Note: Updated to remove reference to Pretium comment.
Read more:&nbsp;
<ul>
<li aria-level="1"><a href="https://www.bloomberg.com/news/articles/2026-01-07/trump-s-bid-to-block-corporate-homebuying-blindsides-wall-street">Trump Bid to Ban Corporate Homebuying Blindsides Wall Street</a></li>
<li aria-level="1"><a href="https://www.bloomberg.com/news/articles/2026-01-07/trump-to-target-institutional-purchases-of-single-family-homes">Trump Targets Institutional Investors in Affordable Housing Push</a></li>
<li aria-level="1"><a href="https://www.bloomberg.com/news/articles/2026-01-12/wall-street-homebuyers-plan-counter-offer-after-trump-threat">Wall Street Homebuyers Plan Counter-Offer After Trump Threat</a></li>
</ul>
Hosted by Sarah Holder; Produced by Julia Press; Reported by Patrick Clark and Kriston Capps; Edited by Aaron Edwards; Fact-checking by David Fox and Rachael Lewis-Krisky; Engineering by Alex Sugiura; Senior Producer Naomi Shavin; Deputy Executive Producer Julia Weaver; Executive Producer Nicole Beemsterboer

Trump’s Latest Target: Corporate Landlords

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/c38a7a77-dbbc-4697-95d4-b3d3016ad1d8/transcript

Weeks of protests in Iran started over the high price of food and essential goods. They quickly engulfed the nation and, before long, were met with deadly force by the Iranian regime’s security forces. 

The violent crackdown has drawn international condemnation and President Trump has offered protestors his support. 

On today’s Big Take podcast, host David Gura and International Crisis Group’s Iran Project Director Ali Vaez discuss how we got here, the existential threats facing the Iranian regime and what could come next if it falls. 

 

Weeks of protests in Iran started over the high price of food and essential goods. They quickly engulfed the nation and, before long, were met with deadly force by the Iranian regime&rsquo;s security forces.&nbsp;
The violent crackdown has drawn international condemnation and President Trump has offered protestors his support.&nbsp;
On today&rsquo;s Big Take podcast, host David Gura and International Crisis Group&rsquo;s Iran Project Director Ali Vaez discuss how we got here, the existential threats facing the Iranian regime and what could come next if it falls.&nbsp;
&nbsp;

Pressure Is Mounting on Iran's Regime

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/1bda65ef-563c-4ebe-b6f7-b3d2018606da/transcript

Why Are Airline Rewards So Complicated?

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