Your Evening Briefing
(Bloomberg) -- Americans spend more on prescription drugs than anyone else in the world. On Friday, President Donald Trump released his plan to tackle the issue, calling for increased competition, lifting rules that prevent government programs from negotiating better drug discounts, and pushing other countries to pay more.
Here are today's top stories
Trump says other countries benefit unfairly from the high drug prices paid by Americans, but economists say making others pay more won't make Americans pay less.
In Bloomberg Opinion, Joe Nocera argues that the best fix for drug prices was already signed into law by President Ronald Reagan 34 years ago.
AT&T CEO Randall Stephenson told employees that hiring Michael Cohen as a political consultant was a "big mistake." It cost the company's top lobbyist his job.
Stephenson has staked AT&T's future on its acquisition of Time Warner. Trump has said his administration won't approve the deal.
Truckers are now in such high demand, shippers are rushing to make them feel more welcome with perks such as spruced-up break rooms and cash incentives.
What's Luke Kawa thinking? The Bloomberg Markets reporter is interested in the flatter Treasury curve, with the two-year, 10-year spread closing at fresh cycle lows. That’s not all bad news, he believes, and may have some positive aspects, reflecting renewed demand for U.S. debt from overseas buyers.
What you'll need to know tomorrow
- After slumping for years, frozen food sales are heating up.
- HBO is developing more foreign-language programming to fight the global streaming wars.
- GM may follow Ford and Fiat out of the American car market, Morgan Stanley says.
- Starbucks restrooms are now open to all.
- A group of Republican senators want to exempt solar-farm panels from tariffs.
- Billionaire David Tepper is close to an agreement to buy the NFL's Carolina Panthers.
- Bitcoin is facing a dreaded "death cross" after plunging back below $9,000.
What you'll want to read tonight
Mother's Day is the biggest brunch event of the year, but chances are you’re doing it all wrong. Here's how to avert a disaster during the weekend staple some love and others love to hate.
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