Your Evening Briefing
Your Evening Briefing
(Bloomberg) --
President Donald Trump agreed to shut down his personal charity and distribute the remaining assets to nonprofits. The move is tied to a lawsuit by New York's attorney general, who alleges widespread wrongdoing at the Trump Foundation, including the use of funds for personal, political and business purposes.—Josh Petri
Here are today's top stories
U.S. stocks held near a 14-month low on a volatile day that saw the benchmark gauge swing almost 2 percent from trough to peak.
A federal judge postponed the sentencing of Michael Flynn until after he completes his cooperation with Special Counsel Robert Mueller. But first, the judge scolded the former national security adviser for his crimes, telling him: “Arguably, you sold your country out.”
A year after the Republican tax overhaul, the results of the complex, 186-page law are trickling in, and it's no surprise: The rich are winning.
Between the blueberry harvests of 2016 and 2017, something changed in America. The weaponization of ICE has compelled people to work through force, fraud or coercion, according to immigration lawyers.
"Socially responsible" funds seek out customers by promising to align investments with values. But often, they're more marketing than science, Bloomberg Businessweek reports.
As Tether grew into a multibillion-dollar engine of the cryptocurrency market, skeptics warned that the digital coin, whose selling point is that it’s pegged to the dollar, wasn’t backed by a lot of cash. Bank statements reviewed by Bloomberg suggest those fears may be unfounded.
What's Joe Weisenthal thinking about? The Bloomberg news director is reflecting on Trump's tweets urging the Fed to avoid making "yet another mistake" by raising rates. Of course, Trump shouldn't be meddling with the decision, but perhaps he has a point?
What you'll need to know tomorrow
- Manchester United manager Jose Mourinho left the club.
- Even Stan Druckenmiller doesn't know where markets will go next.
- Steven Mnuchin blamed high-speed trading for volatility.
- Uber wants a Chinese tariff exclusion for its e-bikes.
- Puma presents the computerized running shoes nobody asked for.
- How longer flights and nicer planes have changed traveling.
- Twitter is a "toxic place for women," says Amnesty International.
What you'll want to read tonight
Workers experience starkly different versions of America depending on where they live. One way to measure the economic fortunes of a place is by the concentration of households earning $200,000 or more, the highest threshold in the Census Bureau’s American Community Survey. We did that, and discovered where the rich are going.
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