Bloomberg Businessweek

Every three months like clockwork, investors pull $40 billion or more from a BlackRock exchange-traded fund tracking the S&P 500 and deposit most of it into a near-identical Vanguard Group product. A few days later they reverse the trade, and the money flows back the other way. Bloomberg News' Zachary Mider and Denitsa Tsekova write about the trend in today's Big Take.
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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF
Chevron plans to invest $7 billion over the next five years to more than double crude production in Venezuela through its joint venture partnerships. The announcement comes after President Trump announced a deal to develop Venezuela's oil reserves, giving the Pentagon a stake in the profits. Bloomberg News Washington Correspondent Tyler Kendall spoke with US Energy Secretary Chris Wright and Chevron CEO Mike Wirth about the new deals.
On today's episode, Tim Stenovec and guest host Lisa Mateo speak with:
Tyler Kendall, Bloomberg News Washington Correspondent
Chris Kennedy, Bloomberg Economics Economic Statecraft Lead
Miguel Martin, Aurora Cannabis CEO
Daniel Schreiber, Lemonade Co-Founder and CEO
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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF

US-Iran tensions over the Strait of Hormuz heightened after a flurry of military strikes at the start of the week, with neither side prepared to cede ground over the crucial waterway. It caused a surge in oil prices that rippled through global markets, hitting stocks and bonds on worries that higher energy costs will fuel inflation and force the Federal Reserve to boost rates. Bloomberg News Senior Editor Wendy Benjaminson has latest details on fighting in the Middle East, while Bloomberg News Macro Strategist Frank Monkam explains the impacts on the energy and bond markets.

On today's episode:
Wendy Benjaminson, Bloomberg News Senior Editor
Frank Monkam, Bloomberg News Macro Strategist
Heather Lavallee, Voya Financial CEO
Elizabeth Rambert, Bloomberg News Municipal Finance Reporter
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The rise of prediction markets has raised concerns about their potential to contribute to gambling addiction, with some experts arguing that they can be just as addictive as traditional sports betting, despite being marketed as a safer and more user-friendly alternative. Ira Boudway, Bloomberg News Global Business Reporter, reports on one man's story of relapse and recovery and what Kalshi says it's doing address the mental health risks of gambling.
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The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

The Colorado River has lost 20% of its flow due to a 25-year drought and chronic overuse, causing major reservoirs to fall to record-low levels. The federal government has proposed a plan to cut water allocations to California, Arizona, and Nevada, with Arizona potentially losing all of its 3 million acre-feet of river allocation in the long run. A significant portion of the Colorado River's water is used for irrigation to grow alfalfa and other hay to feed cattle, with about 26% of the hay grown in California and Arizona being exported to other countries.

For more, Kristine Aquino and Tim Stenovec spoke with Mark Gongloff, Bloomberg Opinion Columnist who covers climate change.
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