Your Evening Briefing

(Bloomberg) --

U.S. President Donald Trump warned Iran of unspecified "CONSEQUENCES" if President Hassan Rouhani continues to threaten America in a tweet late Sunday. Oil prices rose in the aftermath of the exchange. 

Here are today's top stories

Iran wasn't the only target of Trump's ire. On Monday, he renewed his attacks on the Russia collusion probe and the Washington Post. The president is also considering revoking the security clearances of several Obama-era national security officials who have criticized him.

The trial set to begin this week for Paul Manafort was delayed until July 31 by a judge who separately granted immunity to five witnesses who said they would have remained silent without the protection.

The White House will seek to revoke California’s authority to regulate automobile emissions—including its mandate for electric car sales. The move is a frontal assault on one of Obama's signature regulatory programs and is sure to set off a legal battle.

Papa John's founder John Schnatter, who resigned as chairman after using a racial slur, plans to rally shareholder support as he tries to avoid being banished from the company’s board.

Organizations that monitor the health of democracies are converging around a similar idea: On average, the world is becoming less democratic for the first time in several decades.

Fiat Chrysler CEO Sergio Marchionne departed the company after a sudden deterioration in his health. Our reporter recounts his decade chasing the renowned CEO around the globe. 

What's Luke Kawa thinking about? The Bloomberg markets reporter says investors will always come up with something to worry about: Politics, international tensions, the Fed, growth, inflation, you name it. Right now, they're in agreement that the biggest "tail risk" is a trade war. In fact, investors haven't been this focused on a single threat since the euro crisis, according to Bank of America's fund-manager survey.

What you'll need to know tomorrow

What you'll want to read tonight

The pristine Jamaica of James Bond’s creator is in danger. Overfishing has imperiled the barracuda’s habitat: Fewer algae-eating fish spurs coral die-off, and the practice of fishing with dynamite has had catastrophic effects. But over the past seven years, a former record company executive has slowly built a network of conservationists to help protect the ecosystem near Fleming’s home, dubbed Goldeneye, creating a template for others in the process.

Your Evening Briefing

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