Your Evening Briefing
Your Evening Briefing
(Bloomberg) -- India’s $250 billion internet market is getting hot thanks to guys named Bezos and Buffett. Amazon is hatching deals with supermarket chains and retail conglomerates while Berkshire stakes out digital payments. Meanwhile, Walmart wrapped up a $16 billion agreement for control of India’s leading e-commerce player.
Here are today’s top stories
U.S. President Donald Trump, in an exclusive Oval Office interview with Bloomberg News, said he might pull America out of the World Trade Organization, is mulling a tax cut for investors, doesn’t regret appointing Jerome Powell as Fed chairman and won’t fire Attorney General Jeff Sessions before the midterm elections.
Sweden, a social democracy with a growing economy fueled by immigrants has been assailed by U.S. President Donald Trump and isn’t on the best terms with Russia. Now the Twitter bots are out, supporting a party with neo-Nazi roots as national elections approach. The Swedish government said it's trying to figure out who is behind the cyber attack.
Europe may want to put some daylight between itself and Trump, but Hal Brands writes for Bloomberg Opinion that, from the standpoint of defense and trade partners, the continent is pretty much stuck with the U.S. for the near future.
Wall Street drove America into the Great Recession and George W. Bush and Barack Obama helped backed it out. Handing billions of dollars to banks rather than punishing bankers was a necessary choice, their deputies have often said. What they didn't know, reports Bloomberg Businessweek, was that they were sowing the seeds of a Trump presidency.
Millions lost their jobs, savings and homes thanks to that financial collapse. But BlackRock, the world's biggest money manager, won—and won big. Bloomberg Businessweek reports how the crash forged a $6.3 trillion giant.
Argentina’s currency crisis deepened as an emergency interest-rate increase failed to stop jittery investors from pulling their money out of the country.
What’s Joe Wesienthal thinking about? The Bloomberg news director is talking marijuana again, and says that all the interest in this growing field is about FOMO, or the Fear of Missing Out.
What you’ll need to know tomorrow
- Does China have what it takes to become a superpower? Here are the numbers.
- JPMorgan is liquidating a $1 billion credit hedge fund.
- A widely used diabetes drug can cause a flesh-eating genital infection.
- The White House counsel is resigning, but Trump can't stop talking about why.
- He also doubled down on China tariff threats while canceling pay raises for federal workers.
- Breathe easy this weekend. The new iPhones won't arrive until Sept. 12.
- Warren Buffett says that ubiquitous Apple gadget is worth a lot more than it costs.
What you’ll want to read tonight
Trade in your airport delay blues for a virtual reality fantasy. As terminal time killers, cocktails will never lose their most-favored status. But the race for novel concessions inside the airport is becoming more, well, playful. Especially when it comes to mollifying less-than-happy passengers. Welcome to gaming lounges at the gate.
©2018 Bloomberg L.P.