Business Confidence, Wealth Tax, Climate Change Warning: Eco Day

(Bloomberg) --

Good morning Americas. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

• Optimism among U.S. small-business owners fell in August to the lowest level in five months, with the outlook for the economy and sales slumping amid escalating trade tensions and recession fears
• Billionaires such as Jeff Bezos, Bill Gates and Warren Buffettcould have collectively lost hundreds of billions of dollars in net worth over decades if presidential candidate Elizabeth Warren’s wealth tax plan had been in effect -- and they had done nothing to avoid it
• Christine Lagarde may this week get a sense of things to come under her presidency of the European Central Bank, as her forerunner in the role encounters resistance to his final attempt to add more stimulus
• Climate change may lead to large swings in the incomes of U.S. retail workers, according to a new study published by the Federal Reserve
• A new index by the International Monetary Fund shows current trade uncertainties are about 10 times the peaks seen in previous decades
• Germany’s worship of fiscal discipline is being challenged by a looming recession and tantalizingly cheap credit
• The U.K. economy continued to create jobs over the summer and wages jumped, despite the escalating turmoil over Brexit

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Zoe Schneeweiss

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