Your Evening Briefing
Your Evening Briefing
(Bloomberg) --
U.S. President Donald Trump demanded House Democrats end efforts to investigate his presidency or he’d refuse to work with them on legislation. Senate Minority Leader Chuck Schumer and Speaker Nancy Pelosi said Trump stormed out of a meeting and abruptly summoned reporters to complain that Pelosi accused him of a “cover-up.”
Here are today’s top stories
It’s infrastructure week, yet again. So how’s that going? Well, the $1.57 billion of wall funding Congress appropriated last year has yielded 1.7 miles of Trump’s fence along the Southern border.
Wireless carriers are scrapping plans to sell Huawei phones as the Chinese company reels from a U.S. supply ban. That ban may be expanded to five Chinese companies.
Former Trump personal lawyer Michael Cohen communicated more than 1,000 times over eight months with the chief executive of a U.S. money-management firm with ties to a Russian oligarch.
It’s not often that an entire economy is thrown off course by a single corporate event. But that’s what the bankruptcy of Wow Air did to Iceland.
The Fed believes its patient approach to interest-rate change will be appropriate “for some time” and that the recent dip in inflation was probably temporary.
Michael Avenatti was indicted on federal charges that he tried to extort millions of dollars from Nike and divert client money for his own use.
What’s Joe Weisenthal thinking about? The Bloomberg news director is reading Skanda Amarnath’s argument for policies that will keep the labor market hot. The Fed’s focus on consumer price inflation is misguided, he argues, and leads to bad outcomes. Instead, Amarnath proposes the Fed should target growth in Gross Labor Income instead, which is basically the combined paycheck of every worker.
What you’ll need to know tomorrow
- Men pay sixfold markups to feel cool about buying generic Viagra.
- NYC subway’s new way to pay has banks rushing to update cards.
- Botswana lifted its ban on hunting elephants.
- Quentin Tarantino’s first film without Harvey Weinstein falls flat.
- Scientists have brewed the beer Egyptians drank 5,000 years ago.
- The fight over Trump’s tax returns is heating up.
- What is the meaning of life, you ask? Bacon salt, we answer.
What you’ll want to read tonight in Hyperdrive
Ford is working on a way to resolve what self-driving researchers refer to as “the last 50-foot problem.” If an autonomous delivery vehicle arrives at your house, without any humans aboard, who’s going to carry the package, grocery bags or piping-hot pizza to your doorstep? A robot, of course, could be up to the task—with no tipping necessary.
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