Your Evening Briefing
Huawei Technologies has strenuously denied American claims that it's positioning hardware to facilitate espionage by the Chinese state. But a decade ago, Vodafone discovered secret backdoors in Huawei equipment that gave the Chinese company access to millions of homes and businesses. Both Vodafone and Huawei say the matter was resolved and no exploitation took place. But for Huawei, the timing of the news couldn't be worse.
Here are today’s top stories
For all medical students, the path to becoming a licensed doctor is hard. For women, it can also be dangerous. A teaching model that gives instructors tremendous power over the future of hospital residents fosters an environment where sexual harassment runs rampant.
Stocks wavered on the last day of April amid mixed earnings and a lack of certainty about efforts to end the U.S. trade war with China.
Warren Buffett jumped in. His intervention in Occidental’s $37 billion bid for Anadarko may tip the scales against Chevron in the oil industry’s biggest bidding war in decades.
The world’s largest offshore oil supermarket is stocking up for anti-pollution rules that Goldman Sachs predicts will upend energy markets.
Ken Griffin, the billionaire hedge fund manager, attacked subsidies for Americans seeking home mortgages or student loans to attend college.
What's Joe Weisenthal thinking about? The Bloomberg news director is bullish on Europe. For all the pessimism, the labor picture continues to improve, including German unemployment that's holding at a post-reunification low of 4.9 percent. The overall euro-area jobless rate fell from 7.8 percent to 7.7 percent, a new post-crisis low. Still, not everyone is so positive about the future.
What you’ll need to know tomorrow
- The Fed has a big problem when it comes to sparking inflation.
- Another Fed nomination is in serious trouble.
- More of the world's millionaires are moving to Australia and the U.S.
- HSBC is under attack in Hong Kong.
- Facebook is trying out a redesign of its app.
- Big Tech just got a $100 billion bloody nose, courtesy of Wall Street.
- Instagram may remove the number of “likes” on posts.
What you’ll want to read tonight in Businessweek
A Jewish developer recently made an unsolicited offer for Nouha Siksek’s beachfront home in Jaffa, Tel Aviv’s historic port. With land prices surging and the neighborhood undergoing a face-lift, he was prepared to pay millions. Siksek said no. Cashing out means surrendering to a wave of new residents, mainly Jewish, and hastening the end of 1,400 years of Arab presence in the area. What’s resulted, Bloomberg Businessweek reports, is a market in which buyers must pay a “nationalism premium.”
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