Your Evening Briefing

Josh Petri

11 May 2019, 02:45 AM IST

(Bloomberg) --

U.S. President Donald Trump began his morning as he often does: with some tweets. On this day, however, his missives shook global markets when he proclaimed there’s “no need to rush” a China trade deal—only to delete the posts moments later. Trade talks between the two nations concluded on Friday with no deal as Trump’s tariff threats became a reality. This is what an all-out trade war looks like.

Here are today’s top stories

Uber fell on Friday in its trading debut, leaving the ride-hailing giant’s market value below its last private funding round.

House Democrats issued subpoenas Friday to Treasury Secretary Steve Mnuchin and IRS Commissioner Charles Rettig demanding they turn over six years of Trump's tax returns.

Airlines have a long history of sexualizing the role of flight attendants, and the fallout continues to this day. More than a third of flight attendants say they've experienced sexual harassment over the past year.

TikTok, a social video app that allows users to record and share short clips set to music, can make a song go viral. Now labels want a cut.

Elon Musk sent a series of suggestive tweets after a video surfaced of two people having sex in a Tesla operating on Autopilot.

Sedans are dying as buyers flock to SUVs and pickup trucks. To save them, automakers are stealing a key feature from their larger competitors.

What's Luke Kawa thinking about? The Bloomberg cross-asset reporter is reflecting on how Fed officials are rallying around Chairman Jerome Powell’s stance on the state of too-low inflation (it’s “transitory” he said). Given Trump’s trade war and his tariffs on China, experts are seeing a new reason to expect the Fed to cut interest rates.

What you’ll need to know tomorrow

Japan is testing the limits of rail travel. Its newest train hits 249 mph.
Delaying action on climate change could cost investors $1 trillion.
Virgin Galactic plans its first commercial space flight this year.
A short-seller bets it all on a spectacular market crash.
The next iPhone will have a faster chip designed in-house.
Rihanna joins LVMH to launch her own fashion house.
Robots are thriving in jobs humans find too boring.

What you’ll want to read tonight in Pursuits

Reader, it was with you in mind that Bloomberg ordered and taste-tested 13 of the most notable mail-order cakes out there. Why? Serving a stunning confection at a graduation or Memorial Day party will leave guests praising your exquisite taste for years to come. You're welcome.