Your Weekend Reading: The Epstein Fallout Begins

(Bloomberg) --

The fallout from the Jeffrey Epstein sex-trafficking case has begun. U.S. Secretary of Labor Alex Acosta resigned over criticism for his role as a prosecutor in an earlier Epstein case. The list of who traveled on Epstein’s private jet, named by tabloids the “Lolita Express,” is long. Who visited his Caribbean retreat, known locally by a few choice names? While we’re at it, how did Epstein make his fortune? 

What you’ll want to read this weekend

Storm Barry is set to dump two feet of rain on Louisiana’s coast and disrupt shipping of liquefied natural gas. Almost 20% of U.S. oil refining capacity is in its path.

A shocker for world trade: China’s exports fell and Singapore’s economy contracted. Adding to China’s troubles, data will probably show its GDP in the second quarter expanded at the slowest rate since at least 1992.

Crypto noise: U.S. President Donald Trump made clear he’s no friend of Bitcoin, and Fed Chairman Jerome Powell this week highlighted serious concerns with Facebook’s proposed Libra currency. Trump, it seems, only has time for the dollar.

Car2Go tried to make ride sharing easier: It ended up with 75 Mercedes stolen in a day. Meanwhile “mobility as a service,” the concept that car companies will want to sell transportation rather than vehicles, revs up.

New workers of the world. We spent a year talking to workers in a time of huge change: technology, jobs, moving to cities and the widening gap between boss and employee. But it’s OK if you’re a Deutsche Bank survivor: you might still get your bonus.

What you’ll need to know next week

• The bail hearing for Epstein resumes in New York.
• Mass U.S. raids to arrest illegal immigrants are to begin Sunday.
• The House will hear from Facebook on its crypto plans.
• Citigroup kicks off bank earnings season.
• EU ministers will discuss Iran’s uranium enrichment.

What you’ll want to see in Bloomberg Graphics

China’s bid to make the South China Sea its own is working, and it’s also driving fishermen who depend on it for a livelihood out of business.

To contact the editor responsible for this story: David Rovella at drovella@bloomberg.net

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