Your Evening Briefing
The U.S. technology industry is girding for sweeping antitrust probes as the Trump administration targets Silicon Valley’s best-known names. The Federal Trade Commission will investigate Facebook and Amazon while the Justice Department is to open an inquiry into Google. Shares of the companies tumbled.
Here are today’s top stories
The Fed may need to cut interest rates to counter economic risks from President Donald Trump’s trade war, St. Louis Fed President James Bullard said.
For years, Tesla has made cash by selling credits to other carmakers that needed to offset sales of polluting vehicles. These transactions have been shrouded in secrecy—until now.
Trump called on the U.K. to throw off the “shackles” of EU membership and ink a free-trade deal with the U.S. On the first day of a three-day trip to the U.K., he also decided to personally attack the mayor of London.
The last vestiges of the Virgin America brand are now aviation history, bringing a formal end to Richard Branson’s brash, groundbreaking effort to put some European flair into U.S. skies.
What’s Tracy Alloway thinking about? The Bloomberg executive editor spent the weekend reading China's white paper explaining its "Position on the China-U.S. Economic and Trade Consultations." She was struck by the way two of China's biggest sensitivities seem to be combined: An infringement of its sovereignty by a foreign player, and a threat to China's attempts to become a technological powerhouse.
What you’ll need to know tomorrow
- One of the most hated tax breaks in America just won't die.
- The Supreme Court agreed to hear a case about Blackbeard's ship.
- A crypto pioneer paid $4.57 million for lunch with Warren Buffett.
- China's $1.9 billion railway project in Kazakhstan has hit a wall.
- Genetically altered twins may have a shorter lifespan.
- The world's lowest interest rate could be going even lower.
- James Cameron thinks plant-based investing is the future.
What you’ll want to see tonight in Bloomberg Photos
Trump arrived in the U.K. at a sensitive moment, with political rivals jostling to replace outgoing Prime Minister Theresa May. While the first day of his visit featured pomp and circumstance, tomorrow brings political talks and potentially large demonstrations on the streets of London. There have already been scattered protests, and the Trump Baby blimp has returned, both in physical and projected form on the White Cliffs of Dover.
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