Your Evening Briefing
Loan sharks send thugs to beat up borrowers who fall behind on their payments. Another type of predatory lender sends an obscure New York City official armed with court papers. He empties your bank account and keeps a cut. Last year, this man earned $1.7 million, making him the best paid municipal employee in the five boroughs.
Here are today's top stories
The murder of Washington Post columnist Jamal Khashoggi has soured the world’s politicians on Saudi Arabia's Crown Prince Mohammed Bin Salman. Private capital turned against him long before that.
More than 200 million people have registered to play Fortnite, logging countless hours searching for weapons and resources in a post-apocalyptic video game world. Parents, teachers and bosses are grappling with the resulting time-suck. Some are even turning to rehab.
Gel retardants aren't effective at large-scale fire-suppression, but they're showing promise for protecting individual structures, Bloomberg Businessweek reports.
Foreign guns have invaded America, using Elvis and cowboys to take a big chunk of market share away from U.S. rivals.
What's Joe Weisenthal thinking about? The Bloomberg news director is watching cryptocurrencies languish and wondering when prices will find a bottom (if ever).
What you'll need to know tomorrow
- Despite that spiral, Nasdaq plans to list Bitcoin futures.
- Jack Ma is officially a Chinese Communist Party member
- Trump is likely to increase tariffs on $200 billion of Chinese goods.
- Unless China's Xi Jinping persuades him otherwise over dinner.
- Here's what oil at $50 a barrel means for the world economy.
- Tech stocks have plunged recently. Is the boom finally over?
- Here's another warning sign that the U.S. economy will slow in 2019.
What you'll want to read tonight
If you just made a nice windfall selling your property, or came into a fat inheritance, or just happen to have a large nest egg sitting around, here are some ideas from our inaugural survey of experts on where to park $1 million. Suggestions range from leveraging the trade war between China and the U.S. to Vietnamese condos, or 300-year-old tea.
©2018 Bloomberg L.P.