Your Evening Briefing
U.S. President Donald Trump crossed into territory rarely seen in the 243 year-history of the country. The House of Representatives voted to formally approve and proceed with the public phase of the Republican’s ongoing impeachment inquiry over his dealings with Ukraine. The vote, along party lines, sends a signal that articles of impeachment are likely to be forthcoming and forwarded to the Senate for trial.
Here are today’s top stories
The Fed’s hint that it could halt interest-rate cuts amid lingering global economic gloom may have given bond traders the green light to reboot this year’s best trade: buying long-dated government debt.
As thousands of California residents fled fires burning up and down the state, a team of researchers headed toward them. These firefighter scientists are trying to learn about our climate change-fueled, fiery future.
Fugitive financier Jho Low will give up almost $1 billion in assets allegedly stolen from a Malaysian investment fund as part of the 1MDB settlement. In a deal brokered by the U.S. Justice Department, his lawyers, including Trump ally and former New Jersey Governor Chris Christie, will take home $15 million.
While Tesla founder Elon Musk has shown the world that his Model 3 electric car is here to stay (while burning Wall Street shorts in the process), the hell that was once a production line has re-emerged as a repair shop.
People often speak of population explosions, but as Bloomberg Businessweek reports, humanity is approaching a plateau. There is in fact a global fertility crisis, and countries may soon be scrambling to adapt.
What’s Joe Weisenthal thinking about? The Bloomberg news director says that, going into Wednesday’s Fed meeting, the expectation was for a rate cut and then a pause. And that’s basically what was delivered. But then Fed Chair Jerome Powell offered a little more. In speaking about the prospect for future rate hikes, he said the Fed would need to see “a really significant move up in inflation that’s persistent before we would consider raising rates to address inflation concerns.” Markets immediately reacted to this line, with the S&P 500 jumping by about five points. Why? Joe says traders interpreted it as Powell raising the bar for future hikes.
What you’ll need to know tomorrow
- Protests all over the world have one thing in common.
- France’s massive nuclear power plant faces massive problems.
- Madrid may replace Chile as a venue for a global climate gathering.
- Billionaire families are reshaping Silicon Valley’s venture terrain.
- Another wealthy San Francisco suburb faces its climate reality.
- Bloomberg Opinion: Food delivery may be a gig economy dead-end.
- The Apple Watch Series 5 in titanium is surprisingly revolutionary.
What you’ll want to watch in Bloomberg Originals
A group of scientists want to help mankind get in touch with aliens. The initiative, called the Search for Extraterrestrial Intelligence, or SETI, uses large radio telescopes pointed at nearby stars and galaxies, part of an effort to detect electromagnetic radiation that may indicate the existence of alien technology. In the third installment of Moonshot, a Bloomberg Originals series, we meet the people behind this momentous mission. Astronomer Jill Tarter, the basis for Jodie Foster’s character in the film “Contact,” has made SETI her life’s work.
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