Your Evening Briefing
Volatility markets are flashing a warning sign that preceded some of the major market meltdowns in recent memory. On Tuesday, investors got a taste of that dark future as U.S. equities fell the most since March thanks to President Donald Trump’s China tariff threats. For insight on the longer-term health of equities, watch this number.
Here are today’s top stories
House Speaker Nancy Pelosi warned Trump’s defiance of subpoenas could be an impeachable offense, just as a White House lawyer instructed a predecessor not to comply with the latest demand from Congress. But Pelosi also said Trump might be trying to goad the House into seeking his removal, a process she has said could backfire on Democrats come 2020.
Secretary of State Michael Pompeo abruptly canceled a visit to Berlin Tuesday, citing “pressing issues.”
A fatal crash in 2009 prompted a life-saving fix across thousands of Boeing 737 cockpits. So why wasn’t the same lesson applied to the design of Boeing’s 737 Max, which has crashed twice, killing 346 people?
Glaring economic disparities are hardly new in Russia. But pockets of disquiet rarely seen in the Vladimir Putin era are now putting depressed towns in the Russian hinterlands on the political radar.
The Apple Store was once renowned for its tech support. But current and former employees say they have become mostly an exercise in branding and customer service is in decline.
What’s Joe Weisenthal thinking about? The Bloomberg news director is watching shares of Beyond Meat, the maker of vegan meat alternatives, soar. The company’s S-1 filing pegs the industry at $1.4 trillion. Of course, they’re not going to have the space all to themselves. Rivals including the Impossible Burger (which many people seem to prefer on taste grounds) and established food companies are looking to get in.
What you’ll need to know tomorrow
- The world’s richest countries don’t dominate trade like they used to.
- Jobs are booming in Trump districts. Pay, however, is lagging.
- BMW’s auto division posted its first loss in a decade.
- Disney cut “Avatar 2” from its 2020 lineup.
- Where do Jeff Bezos and Kim Kardashian meet? The Met Gala.
- The best restaurant in the U.S. is in Philadelphia. Really.
- Shell jewelry has come back into fashion, we’re afraid.
What you’ll want to read tonight in Businessweek
In 2013, Guido Barilla made a massive mistake. “I would never do a commercial with a homosexual family, not for lack of respect, but because we don’t agree with them,” the pasta company chief said. Global outrage ensued. Now, five years later, the company has transformed from a pasta giant that would never feature homosexuals in its campaigns to one that uses the rainbow to sell spaghetti.
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