Your Evening Briefing

(Bloomberg) --

As Donald Trump kept Queen Elizabeth waiting for her afternoon tea, a grand jury indicted 12 intelligence officers affiliated with the Russian military, alleging they used hacking as part of that nation's campaign to throw the 2016 U.S. presidential election. The announcement came three days before the president is to meet his Russian counterpart. It's going to be an interesting weekend. 

Here are today's top stories

U.K. Prime Minister Theresa May and Trump entered a news conference Friday holding hands, and went out of their way to praise each other one day after he assailed her Brexit strategy.

Trump has said trade wars are “easy to win.” Economists think differently, although most expect the U.S. to emerge without serious damage. A bigger question is will the Republicans?

Global automakers are among the biggest potential losers of the trade war. But they're finding ways to bypass the battle, like doubling down in China. 

Elon Musk spoke to us about his scars from a year in production hell with the Model 3, his expectations for the Model Y and why he's trying to be nicer on Twitter. 

Trump is expected to play golf this weekend at Trump Turnberry in Scotland. His deal for the course demonstrates his love of the sport—and his dubious business judgment, Timothy O'Brien writes for Bloomberg Opinion.

The Airbus A320neo and Boeing's rival 737 Max promised a new era of profitable flying. Instead, a series of engine glitches has left much of the aviation industry with a severe case of jet lag.

What's Luke Kawa thinking about? The Bloomberg markets reporter is looking at a perplexing trend. Big-name bond managers including Bill Gross and Michael Hasenstab have been positioning for rising rates, and seen those bets falter.

What you'll need to know tomorrow

  • Gogo's revamp means airlines must pay more for Wi-Fi.
  • Tokyo is about to cede its title of world's largest city.
  • Pizza Hut's plan to win over younger diners is simple: sports and beer.
  • WeWork told staff it will no longer pay for any meals including meat.
  • FEMA emptied its Puerto Rico warehouse just before Hurricane Maria struck.
  • Facebook is going after Instagram's millennial users. 
  • Consumers are spending more while still paying off their credit-card balances.

What you'll want to read tonight

After ranking global city prices, earning levels, purchasing power and how long you have to work to buy certain goods, UBS has named this city the most expensive in the world

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