Your Evening Briefing
As U.S. tax cuts prompt tech companies to bring home their overseas cash hoards, they're leaving a $300 billion void in the market for short-term corporate bonds, where they had invested much of the money. That’s making it more expensive for other companies to borrow.
Here are today’s top stories
Talks between the U.S. and Canada ended Friday without a Nafta deal, but discussions are expected to continue next week.
Coca-Cola jumped into coffee and retail outlets with a $5.1 billion purchase of U.K. chain Costa, its biggest acquisition in eight years and a push into the fiercely competitive java market.
Some Google advertisers had the benefit of a potent tool using Mastercard transaction data to track whether the ads they ran online led to a sale at a physical store in the U.S.
What’s Luke Kawa thinking about? The Bloomberg cross asset reporter is wondering whether the Fed should look to a policy rate consistent with financial stability in determining how high to lift interest rates.
What you’ll need to know tomorrow
- Indonesia’s rupiah slid to a two-decade low, spurring intervention from the central bank.
- Christine Lagarde will meet with Argentina's treasury minister to discuss a loan accord.
- Ford canceled plans to import an SUV from China, citing U.S. trade war fallout.
- Elon Musk, just what were you thinking with all that going private talk?
- Nobody knows Trump's business like this man, Bloomberg Businessweek reports.
- China is taking a stand against video game and electronic device addiction.
- California is set to decide whether a huge utility company is too big to fail.
What you’ll want to read tonight
More than 20,000 people descended on the peninsula near Carmel, Calif., as car collectors and enthusiasts alike gathered for the spectacle of metal that is the Pebble Beach Concours d’Elegance. With an oceanic backdrop, vehicles from decades gone sat alongside new entries in the luxury market, all competing for the attention of the automotive world.
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