The Pay Check

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.See omnystudio.com/listener for privacy information.

The Deal, hosted by Alex Rodriguez and Jason Kelly, features intimate conversations with business titans, sports champions and game-changing entrepreneurs who reveal their investment philosophies, pivotal career moves and the ones that got away. From Bloomberg Podcasts and Bloomberg Originals, The Deal is available on Apple Podcasts, Spotify, iHeart, Bloomberg Carplay, or wherever you get your podcasts. You can also watch The Deal on Bloomberg Television, and Bloomberg Originals on YouTube.See omnystudio.com/listener for privacy information.

For the last seven weeks, we've gone around the world to see how the pandemic led to more or less economic equality. There were some pleasant surprises and some devastating stories. In the season finale, we ask: what about the next crisis? How do we ensure more stability and security when something earth shattering inevitably comes along? That led reporter Jeannette Neumann to a small town in Spain's Basque region, which boasts a strong track record of security and stability, thanks to a crisis-tested economic model. See omnystudio.com/listener for privacy information.

Singapore's carefully controlled housing market has been a key factor in its economic success over the last 60 years. But when the pandemic ushered in the city's worst-ever recession, property prices continued to rise, leading a younger generation to worry if it can match the social mobility enjoyed by their parents. In this episode of The Pay Check, we examine the grand housing experiment that helped Singapore to reach one of the highest rates of homeownership in the world, and recent developments that have left ordinary Singaporeans asking whether the system is still working for them. Reporter Faris Mokhtar meets the man who helped create the city's housing boom, as well as the young professionals grappling with the market today. See omnystudio.com/listener for privacy information.

Mexico's handling of the pandemic has been largely driven by its president, Andrés Manuel López Obrador, and his desire to keep the economy open. That's meant few restrictions and a “return to normal” even before vaccines. The approach hasn't come without costs, particularly to the country's health care system. During the first year of the pandemic, maternal mortality rates spiked 60%. In this episode of The Pay Check, Equality reporter Kelsey Butler travels to a rural part of Mexico's Yucatan Peninsula to get to the bottom of how that happened — and find out how to fix it. See omnystudio.com/listener for privacy information.

One of the defining trends of the pandemic has been the creation of extreme wealth at the very top. This week on The Pay Check we take a look at the booming fortunes of the world's growing billionaire class through one man: Larry Ellison. (Net worth, give or take $90 billion.) Ellison co-founded the tech company Oracle but he may be better known for how he spends his money: yachts, mansions, a tennis tournament. In 2012, he bought an entire Hawaiian island, Lanai — home to 3,000 people. For a decade its residents have anxiously watched Ellison slowly kill their small businesses and push up rents from afar. Then, during the pandemic, Ellison moved there. Bloomberg Wealth reporter Sophie Alexander traveled down to the island to see how the billionaire's presence has accelerated his plans, and how locals whose family's have lived there for generations, are managing. See omnystudio.com/listener for privacy information.

Even before the pandemic, the proportion of women in India's workforce was falling. Covid made it so much worse. This episode of The Pay Check looks at where India's working women went during the pandemic, why they haven't come back to the workforce, and why that's a blow to the country's broader economic ambitions. Archana Chaudhary and Ronojoy Mazumdar travel to a girls school on the Ganges with one primary mission: Keeping girls in school, often at odds with families that would prefer to get them married. See omnystudio.com/listener for privacy information.

An increase in teen pregnancies in Kenya is part of a shadow pandemic that ripped through developing nations during Covid, setting women's progress back generations. In this episode of The Pay Check, journalist Jill Filipovic visits a dance school in Nairobi, Kenya that's fighting to help girls manage their lives and re-enroll in school. See omnystudio.com/listener for privacy information.

When the Covid-19 pandemic started, many people expected inequality to get worse in the U.S. But at least for the bottom 50% of Americans, something surprising happened: Many of the least advantaged boosted their wealth. To start to understand why, we look to cash payments. No-strings-attached money went to people in need in the form of federal stimulus, the child tax credit — and local guaranteed income programs. As pandemic rescue aid wanes, is there a path to making monthly cash payments permanent? Reporter Susan Berfield looks to Jackson, Mississippi, to find out. See omnystudio.com/listener for privacy information.

This season on the Pay Check, we're going to seven different countries to see how a global pandemic shifted the balance between the richest and the poorest people -- and affected everyone in between. In this first episode, Host Rebecca Greenfield and reporter Ben Steverman discuss how the effects of the pandemic on our health, wealth, safety and livelihood varied widely based on where in the world we were. Then Brazil-based reporter Shannon Sims takes us to the country's capital, Brasilia -- One of the places with the sharpest inequality in the world. Through a day in the life of a single mother who added rideshare driver to her list of side jobs during the pandemic, she explores the ways the pandemic snapped the already fragile safety nets women in this vulnerable group had strung together to stay afloat. See omnystudio.com/listener for privacy information.

The pandemic created a global economic crisis that economists and experts expected would lead to greater wealth inequality than ever before. Host Rebecca Greenfield along with a team of Bloomberg News reporters heads to seven countries around the world to find out what this world changing event has wrought. What they found was surprising. See omnystudio.com/listener for privacy information.

This special episode of The Pay Check features "What Could Have Been", the latest episode of White Picket Fence from Wonder Media Network. How did the U.S. become a society that treats caregiving as a private family responsibility rather than a public good? In this episode, Julie explores the longstanding and continued role racism has played in preventing investments in public goods that would benefit everyone, including caregiving. We'll also do a deep dive into the 1970s when the U.S. nearly invested in universal childcare — and how fear was deployed to block it. Check out all the episodes from the new season of White Picket Fence wherever you get your podcasts. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

On Breakthrough, a new series from the Prognosis podcast, we explore how the pandemic is changing our understanding of healthcare and medicine. We start with an examination of long Covid, a mysterious new illness that has stumped doctors attempting to treat symptoms that last for months and potentially years. It has changed the way hospitals work and forced healthcare officials to prepare for the next pandemic. Covid has also opened the door to revolutionary technology: messenger RNA vaccines. It's a technology that never could have been proven so quickly outside the crucible of that first pandemic year, 2020, and it holds big implications for the future of medicine. Breakthrough launches on Oct. 19. Subscribe today on Apple Podcasts, Spotify or wherever you get your podcasts. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

With the season behind us, Rebecca Greenfield and Jackie Simmons sat down during the Bloomberg Businessweek conference to go inside the making of The Pay Check. They talked about how the series came together, high points, challenges and reactions -- and even teased what might be coming from the Pay Check team in the future. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

For our final episode of season 3, we take a look at how reckoning with our history, collectively, and personally, can help us move forward. Closing the racial wealth gap might not be possible anytime soon. But if the U.S. wants to seriously tackle these injustices, it might need to start with the truth. A few years ago, Bloomberg colleague, Claire Suddath explored her own family's connection to slavery and a plantation in Mississippi. Jackie sits down with Claire to explore what it was like to reckon with that past. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Reparations for slavery in the U.S. aren't happening any time soon. But there are other countries that have compensated populations for persecution. This week, the Pay Check heads to the U.K., which is in the midst of what it calls a "compensation scheme" to pay back Black residents known as The Windrush Generation. Olivia Konotey-Ahulu and Brentin Mock dig into why it's less of a model and more of a cautionary tale. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

This week on the Pay Check, we look at the long fight for reparations for slavery in the U.S. Economists have calculated that each Black American is owed around $300,000, which would just about close the racial wealth gap. While momentum for reparations has grown, it's not likely to happen any time soon -- at least at the federal level. Meanwhile, cities and the state of California are looking into local reparations. Susan Berfield looks at how one town is repaying its Black residents for discrimination. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

For the last few weeks, we've talked about the origins of the racial wealth gap. This week, we're turning our attention to one of the first major efforts to create more economic opportunity for Black Americans: Affirmative action in education. Kelsey Butler takes us to California, a place that for decades had strong, successful affirmative action measures, until one day, it didn't. She explains what getting rid of the policy meant for Black and white graduates, and why reinstating it isn't enough to close the wealth gap. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Homeownership has been a main source of intergenerational wealth in the U.S. But it's one that is out of reach for many Black Americans. Decades after fair housing reforms, the dramatic disparity between Black and White homeownership isn't getting any better. In this episode, we look at why this gap persists, with many Black homes overtaxed, undervalued and unjustly foreclosed on.  The focus of our story is one problem that's a “textbook case of institutional racism”: In thousands of U.S. counties, the method for calculating property taxes means Black Americans are experiencing unfairly high taxes. It's the reason why Di Leshea Scott is renting a home she used to own.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

The Pay Check team has a request for our listeners. Experts estimate closing the racial wealth gap would cost around $13 trillion. That amounts to around $300,000 for every Black American. We want to know: What would you do with that money? Call and leave us a voicemail at 646-324-3490 or record a voice memo on your phone and email it to rgreenfield@bloomberg.net. We may use your voice on the show. Thanks! Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

The top five White landowners in the U.S. own more land than all the Black landowners combined. And over the last century, Black farmers have lost nearly all of the land they once owned. But in the 1990s, tens of thousands of Black farmers sued the Department of Agriculture for discrimination, and won. In this episode, Elizabeth Rembert looks at the role of farmland in the racial wealth gap, and how one farmer's fight with his local USDA loan officer snowballed into the largest class action lawsuit in U.S. history. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

This week, we look at the 400 years of U.S. history that help explain today's racial wealth gap. Bloomberg economics reporter Catarina Saraiva takes co-hosts Jackie Simmons and Rebecca Greenfield from slavery to the modern era to show big economic losses to Black people in addition to moments that led to big wealth gains for White people. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

A few decades ago, nobody really questioned vaccines. They were viewed as a standard part of staying healthy and safe. Today, the number of people questioning vaccines risks prolonging a pandemic that has already killed hundreds of thousands of Americans. How we got to this moment didn't start with the rollout of vaccines or in March 2020, or even with the election of Donald Trump. Our confidence in vaccines, often isn't even about vaccines. It's about trust. And that trust has been eroding for a long time. Doubt, a new series from Bloomberg's Prognosis podcast, looks at the forces that have been breaking down that trust. We'll trace the rise of vaccine skepticism in America to show how we got here — and where we're going. Doubt launches on March 23. Subscribe to Prognosis today on Apple Podcasts, Spotify or wherever you get your podcasts. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

In the season three premiere of The Pay Check, we're switching gears. For the next eight weeks, we'll be looking at the racial wealth gap in the U.S. Why Black people, who make up around 13% of the population, hold just 3.8% of all the wealth in the richest nation in the world. This episode, we'll be exploring what wealth is, why it matters, and how you get it. Co-host Jackie Simmons explores the wealth gap through her family's attempt to hold onto land in a small town in Texas. Then, retail reporter Jordyn Holman, looks at how the gap plays out in a Black mecca. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

More than 150 years after the end of slavery in the U.S., the net worth of a typical white family is nearly six times greater than that of the average Black family. Season 3 of The Pay Check digs into into how we got to where we are today and what can be done to narrow the yawning racial wealth gap in the U.S. Jackie Simmons and Rebecca Greenfield co-host the season, which kicks off with a personal story about land Jackie's family acquired some time after slavery that they're on the verge of losing. From there the series explores all the ways the wealth gaps manifests and the radical solutions, like affirmative action, quotas, and reparations, that can potentially lead to greater equality. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

The killers of Berta Caceres had every reason to believe they'd get away with murder. More than 100 other environmental activists in Honduras had been killed in the previous five years, yet almost no one had been punished for the crimes. Bloomberg's Blood River follows a four-year quest to find her killers – a twisting trail that leads into the country's circles of power. Blood River premieres on July 27. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Adam Neumann had a vision: to make his startup WeWork a wildly successful company that would change the world. He convinced thousands of other people -- customers, employees, investors -- that he could make that dream a reality. And for a while, he did. He was one of the most successful startup founders in the world. But then, in the span of just a few months, everything changed. Foundering is a new serialized podcast from the journalists at Bloomberg Technology. This season, we'll tell you the story of WeWork, a company that captured the startup boom of the 2010s and also may be remembered as a spectacular bust that marked the end of an era. Catch the first two episodes of Foundering, available now on Apple Podcasts, Spotify, or wherever you listen. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Harnessing Bloomberg's reporting from every continent, Bloomberg's daily Prognosis podcast brings the news, data and analysis you need for living in the time of Covid-19. In around ten minutes, we will explain the latest developments in health and science, the impact on individuals, industries and governments and the adaptions they are making in the face of the global pandemic. Come back every weekday afternoon for a short dose of the best information about the novel coronavirus from more than 120 bureaus around the world. First episode drops Thursday, March 26. Subscribe on Apple Podcasts, Spotify, or wherever you listen. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Americans are paying more and getting less for their health care than ever before. On the new season of Prognosis, reporter John Tozzi explores what went wrong.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Bloomberg's Travel Genius podcast is back! After clocking another hundred-thousand miles in the sky, hosts Nikki Ekstein and Mark Ellwood have a whole new series of flight hacking, restaurant sleuthing, and hotel booking tips to inspire your own getaways—along with a who's who roster of itinerant pros ready to spill their own travel secrets. From a special episode on Disney to a master class on packing, we'll go high, low, east, west, and everywhere in between. The new season starts Nov. 6. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

On this new season of Prognosis, we look at the spread of infections that are resistant to antimicrobial medicines. You're probably more likely to have heard of these as superbugs. Their rise has been described as a silent tsunami of catastrophic proportions. We travel to countries on the frontline of the crisis, and explore how hospitals and doctors around the world are fighting back. Prognosis' new season launches Sept. 5.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

The Pay Check is back with a bonus episode on gender equality in women's soccer. A few months ago, the US women's soccer team filed a pay discrimination lawsuit alleging that they do not get equal pay for equal work. The US women's team is far more successful, by many metrics, than the men's team, but they make half as much. Globally, the story is much more complicated. Rebecca Greenfield talks with Eben Novy Williams about the fight for equality in the US and then heads to Bloomberg's UK Equality Summit for our first ever live taping to talk with English soccer legend Kelly Smith, head of the Women's Super League Kelly Simmons and Lenah Ueltzen-Gabell about the fight for equal treatment in the UK. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

During World War II, the influx of women workers into the workforce solved one problem—the labor shortage—while creating another: Who would watch the kids? To address it, the U.S. government created high-quality, publicly-funded childcare centers for working moms. In this season's final episode of The Pay Check, we explore the long term effects of this brief government experiment. We ask what it would take, short of a war, to generate a similar groundswell of public support for mothers in the workforce. And we question the assumption that mothers alone are responsible for creating the infrastructure that enables them to work. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

For the last few weeks, we've been talking about how having kids makes it hard for women to work for pay. But there's a flip side to that: Because it's so hard for women to work for pay when they have kids, more and more just aren't having them. This is a problem all over the developed world, and since population growth is a big part of economic growth, these countries are desperately trying to boost fertility rates. China in particular is in deep trouble: after almost 40 years of the One-Child Policy, the population could start shrinking within a few years. We head to China to see how the country is attempting to get women to have kids — and why it's not working. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

These days about one in three bites of food you eat wouldn't be possible without commercial bee pollination. And the economic value of insect pollination worldwide is estimated to be about $217 billion. But as important as bees have become for farming, there's also increasing signs that bees are in trouble. In the decade-plus since the first cases of Colony Collapse Disorder were reported, bees are still dying in record numbers, and important questions remain unanswered. On this new miniseries, host Adam Allington and environment reporters David Schultz and Tiffany Stecker travel to all corners of the honeybee ecosystem from Washington, D.C., to the California almond fields, and orchards of the upper Midwest to find answers to these questions. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

When we talk about the gender pay gap, we're talking about a ratio: how much women make compared to men. We've spent the last three weeks talking about what happens to women's earnings when they become moms. This week, we look at the other side of the ratio: Men—or more generally, secondary caregivers. When men become dads, their earnings get a boost, a phenomenon known as the fatherhood bonus. But if they try to do more at home than established gender norms say they should, they too are penalized. Susan Berfield tells the story of Kevin Knussman, a police officer whose career suffered when he tried to take time off to care for his wife and new baby. Then we talk to Alexis Ohanian, aka Mr. Serena Williams, about how we can actually get men to be more involved dads. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

We know working moms make less than men partly because they work fewer hours, and one of the main reasons for that is: childcare. Because, well: someone has to take care of the kids. In this episode, we dig into the economics of childcare, which are bad. Women either get pushed out of the workforce altogether, or have to take lower paying jobs to meet childcare needs. There are places, like Singapore, where childcare is cheap and plentiful, allowing women to stay in the workforce. It's great for working women, but what about the women taking care of the kids? Tomoko Yamazaki reports from our Singapore bureau on the life of Romina Novato, a domestic worker in Singapore.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

On this new show from Bloomberg, hosts Mike Regan and Sarah Ponczek speak with expert guests each week about the main themes influencing global markets. They explore everything from stocks to bonds to currencies and commodities, and how each asset class affects trading in the others. Whether you're a financial professional or just a curious retirement saver, What Goes Up keeps you apprised of the latest buzz on Wall Street and what the wildest movements in markets will mean for your investments.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

In this episode, we begin at the beginning: with pregnancy. Women with kids get sidelined at work even before they arrive. From the moment a woman gets pregnant—or reaches the age when she might get pregnant—she's seen as a financial liability. Companies would rather not have to deal with pregnant women at all—and sometimes, they don't. Claire Suddath delves into the history of laws against pregnancy discrimination and explains how they can still fail to protect women. And Jordyn Holman tells the story of Brittany Noble Jones, a TV anchor who says she was pushed out of a job because of her pregnancy. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

In the season premier of The Pay Check, we take a close look at the single biggest reason for the gender pay gap: Motherhood. Women start out their careers earning about as much as men, but the pay gap widens to a chasm after a woman has her first child. Host Rebecca Greenfield talks to Bloomberg economics reporter Jeanna Smialek about what having a kid does to pay and why certain countries have bigger wage gaps for moms than others. We also hear from Senator Tammy Duckworth about what it's really like to “have it all.” Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

The Pay Check is back for a second season! For the next six weeks, we're going to dig into the number one reason women still make less money than men: Motherhood. Women start their careers earning just about the same as men do, but once they have their first kid, that pay gap grows to a chasm. This season, we'll show you how this “motherhood penalty” plays out for real women, in real life and how it affects the global economy. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

The Pay Check is collecting stories for our upcoming season, and we want to hear from you! Did having a kid change your career trajectory or the way you work? If you have anything you want to share, call and leave us a voicemail at (212) 617-0166. Stay tuned for more very soon! Learn more about your ad-choices at https://www.iheartpodcastnetwork.com