Your Evening Briefing
Here are today's top stories
Former Acting FBI Director Andrew McCabe opened obstruction of justice and counterintelligence investigations of Trump and his ties to Russia so as to ensure the probes were on “solid ground” in case he was fired (which he eventually was), McCabe told CBS's "60 Minutes."
Theresa May suffered yet another embarrassing defeat for her Brexit strategy after Parliament rejected her bid to re-write the divorce deal.
Amazon said it’s pulling out of a plan to build a headquarters in New York City after a backlash from some residents and politicians. The company can blame hubris and miscalculation about the popularity of tech, Shira Ovide writes in Bloomberg Opinion.
Twelve million Americans take out high-interest, short-term loans every year. A Trump appointee, now heading an agency created to protect consumers, has proposed eliminating a rule meant to safeguard vulnerable borrowers. Bloomberg reveals the machinery behind this $90 billion industry, how it's about to get bigger and who will pay in the end.
When Bloomberg reporter Esmé Deprez bought a home with a solar installation last year, she didn't realize she wasn't buying the panels.
What's Joe Weisenthal thinking about? The Bloomberg news director has been looking for overall trends this earnings season. His conclusion? A tightening labor market isn't good or bad (per se) for corporations, but it does have distributional impacts, as one company's higher costs are another company's higher profits.
What you'll need to know tomorrow
- These are the signs a U.S. recession may be coming.
- The U.S. and China have made little progress during trade talks.
- Wall Street may be more than willing to fund the Green New Deal.
- Tech giants are moving into finance and could upend the industry.
- A robot finally touched the tip of some of Fukushima's melted fuel.
- Angry about your tax refund? The government says don't be.
- The world doesn't have enough places to plug in electric cars.
What you'll want to read in Businessweek
For decades, selling a house in the U.S. was a low-tech, high-stress affair. You hired an agent, made some minor repairs and waited for an offer, hoping you'd get enough to afford your next abode. Now there's another way. Zillow is part of a new breed of high-tech home flippers that have instant-offer operations. Armed with Wall Street and Silicon Valley capital and algorithms designed to make granular predictions about home prices, these investors are buying homes on a massive scale, and wringing tiny profits out of each flip.
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