Your Evening Briefing
China summoned the U.S. ambassador to protest the arrest in Canada of Huawei Technologies finance chief Meng Wanzhou, threatening to take unspecified "further action." This escalation of the ongoing trade war, along with a delay in a crucial Brexit vote, helped extend a sell-off on Wall Street. The bears, it seems, are settling in for the winter.
Here are today's top stories
In Bloomberg Opinion, Barry Ritholtz presents an argument for the sudden stock tumult: U.S. President Donald Trump owns this market.
A decade after Bernard Madoff was arrested for running the world’s biggest Ponzi scheme, the bitter fight to recoup billions of dollars for his investors has astounded experts and victims alike.
Meng has a few reasons Canada should grant her bail. She suffers from hypertension and a sleep disorder and struggles to eat solid food, her lawyers said. She wants to remain free while awaiting a decision on a U.S. extradition request tied to alleged violations of sanctions against Iran.
The U.S. Digital Service was created by President Barack Obama to drag the feds into the digital age. Now it's trying to quietly speed up the immigration process without drawing the ire of his successor.
Every year, Bloomberg Businessweek editors ask the staff to share articles published elsewhere which they admire (and wish they'd thought of first). Here's the 2018 jealousy list.
What's Joe Weisenthal thinking about? The Bloomberg news director thinks there's a risk factor out there we're not talking about enough: the debt ceiling. He spoke with David Woo, Bank of America Merrill Lynch's head of global rates and currencies research, about the looming deadline.
What you'll need to know tomorrow
- A bear market is already here for most major global stocks.
- Defense Secretary Jim Mattis is seen as the last adult in the room.
- The next generation of wealth is insuring whisky and watches.
- Elon Musk blasted the SEC and said he doesn't smoke pot.
- U.S. factories are posting job openings like never before.
- Corporations face massive climate risks, but nobody seems to mind.
- As student debt rises, college presidents are making more than ever.
What you'll want to read tonight
Asia's richest man, the oil-and-telecom tycoon Mukesh Ambani, is about to give away his daughter Isha to billionaire Ajay Piramal's son, Anand. The week-long extravaganza is estimated to cost about $100 million. To put the figure in perspective, Prince Charles and Princess Diana’s wedding 37 years ago reportedly cost $110 million in today’s dollars.
©2018 Bloomberg L.P.