The Big Take is the very best of Bloomberg's in-depth, original reporting from around the globe every day.
Radio personality and budding entrepreneur Angela Yee describes her youth in the New York City hip hop scene, her first radio job at Shade 45 and how she played a central role in bringing together some of the biggest names in music. In this episode, hear how Yee introduced Jay Electronica to Jay Z, why she decided to book Eminem for one of his first shows, and how she's expanded her empire to include real estate and a new coffee venture.
Cost of Your Caffeine and Sugar Fix to Stay High on El Niño
Crypto Markets Slump as US Regulatory Crackdown Spooks Investors
SNB’s Jordan Puts Switzerland’s Neutral Interest Rate Around 2%
Ukraine Economy Contracts Less Than Expected Despite Attacks
Canada Suffers Minor Job Losses, Snapping Eight-Month Streak
PGA Golfers Are Now Told to Love LIV After Forgoing Its Millions
Why Billionaires Are Circling Debt-Laden French Grocer Casino
OpenAI’s CEO Calls on China to Help Shape AI Safety Guidelines
Tesla’s Record Run Drives Nearly $200 Billion Jump in Value
Nordic Capital Pursues Temenos as Other Suitors Drop
Ukraine Recap: Missiles Fly After Putin Derides Counteroffensive
Starmer Sacrifices Key Proposal to Protect His Path to Victory
US Housing Market Is Missing 320,000 Affordable Homes
Trump Suit Against Niece Over NY Times Story Advances: Judge
Two of Paul Newman’s Daytona Rolexes Sell for More Than $1 Million
Is the Soul of the Tories Up for Grabs Along With the Telegraph?
Smoky Orange Haze Amplifies Focus on Ventilation
Hedge Funds Meet Their #MeToo Moment
The Netflix Effect Chills Foreign Content Creators
Payrolls, Prices, Productivity and Profits Hold the Answer to the Puzzling US Economy
Will Argentina Ditch the Peso for the Dollar?
Sunak Urged to Publish UK Report on Abuse of LGBTQ Soldiers
Dimon Sought for Fresh Deposition in JPMorgan Epstein Suit
A Landlocked German Boardmaker Is Trying to Make Surfing Greener
Thunderstorm Warnings as Weekend Temperatures Soar
NYC Pays Over $300 a Night for Budget Hotel Rooms for Migrants
Connecticut May Ban Collection Tactic Used in Cash-Advance Loans
Deep Drought Punishes Latin American Clean Water Pioneer
Robinhood Removes 3 Crypto Tokens Following Regulatory Crackdown
Coinbase Suit May Finally Send Crypto Debate to US Supreme Court
A New Crypto Banking System Arises Under the Shadow of a Regulatory Crackdown
Photographer: Chris Delmas/AFP/Getty Images
The judge handling a lawsuit over alleged price-gouging at Apple Inc.’s App Store criticized a Nobel prize-winning economist’s analysis backing a claim by consumers for billions of dollars in damages, saying the expert witness “gave us no math and pulls numbers out of the air.”Based on the methodology prepared by Daniel McFadden, a professor at University of California at Berkeley who was a co-winner of the 2000 Nobel Memorial Prize in Economic Sciences, Apple owes iPhone customers $7 billion to $10 billion for charging “supra-competitive” prices for apps and in-app purchases at the online store, a lawyer for the customers said.But that’s only if U.S. District Judge Yvonne Gonzalez Rogers in Oakland, California, allows the case to move forward as a class action on behalf of more than 400 million App Store users. It wasn’t clear at a hearing Tuesday that she will do that. In September, Gonzalez Rogers ruled largely in favor of Apple after a trial over similar claims in a case brought against the tech giant by Epic Games Inc.
Read More: Apple Must Face IPhone App Antitrust Suit, Supreme Court RulesIn questioning lawyers for the consumers, Gonzalez Rogers repeatedly knocked McFadden’s work. At one point, she complained that he’d provided “just six paragraphs” to explain his methodology, adding “he’s not an expert in any of it.”