Your Evening Briefing
The White House made public a major report on climate change Friday, a day when Americans traditionally digest food, not news. The National Climate Assessment by 13 federal agencies shows that even if President Donald Trump believed global warming exists and moved to slow it, and every future administration did the same, Americans would still face billions of dollars in additional annual costs by 2090 as agriculture, jobs and real estate buckle under its consequences. For stores, today may be Black Friday, but for Americans, the ink is looking red.
Here are today’s top stories
Maybe the Wi-Fi at mom’s house is on the blink, because millennials and members of Generation Z are headed to the malls to actually buy stuff in person.
Sitting in the corner crying as you wish you’d put everything in T-bills? You’re not alone. The market has been a horror show this year, but at least there was one winner.
Oil notched its biggest weekly loss since the depths of the last price crash, as record output and a stock sell-off intensified crude’s freefall.
Chinese leader Xi Jinping and Trump are ready to chat at the Group of 20 summit next week in Argentina. The trade war is a likely topic.
After an epic rally last year, cryptocurrencies have become mired in a $700 billion rout that shows few signs of abating.
Medical researchers have a counterintuitive proposal for shielding people’s most intimate personal data from prying eyes. Share more of it.
What’s Lorcan Roche Kelly thinking about? The Bloomberg cross-asset reporter cautions against worrying too much about doom-and-gloom. Things still look solid, he says, and at worst we’re headed for a correction.
What you’ll need to know tomorrow
- Guess what? The S&P entered correction territory this week.
- Witness the insanity of the biggest shopping day of the year.
- Dazzled by Ghosn’s star, investors missed the lessons of history.
- There’s 126 days to go for Brexit, and the path looks treacherous.
- Greece is scrambling to figure out how to save its banks—again.
- Dolce & Gabbana’s chopstick fiasco has put its future at stake.
- Lose fat and tighten your abs just by lying there. Seriously.
What you’ll want to read tonight
Black Friday means the war of the handbags is here. While rivals Coach and Michael Kors duke it out this weekend at Macy’s flagship store in midtown Manhattan, they also face an existential battle with European giants on the global luxury battlefield.
©2018 Bloomberg L.P.