Your Evening Briefing
Your Evening Briefing
(Bloomberg) --
Major U.S. indexes rose to all-time highs ahead of the July 4 holiday. The Dow Jones Industrial Average notched its first record since October, while the S&P climbed a fifth day to extend its high.
Here are today’s top stories
After a yearlong assault on the Federal Reserve, President Donald Trump has tapped two wildly different economists to the central bank’s board who seemingly have one important thing in common. They’re both likely to support the president’s call for lower interest rates.
Boeing is offering $100 million to support the families of victims and others affected by two crashes of its 737 Max jetliner, which killed 346 people.
Bruce Linton, who founded Canopy in an abandoned chocolate factory and turned it into the world’s biggest cannabis firm, was ousted as chief executive officer.
The British Virgin Islands is nominally home to more than 400,000 companies that hold $1.5 trillion in assets, but there are few signs of wealth, Bloomberg Businessweek reports. Over half the companies outed in the 2016 Panama Papers leak were registered in the BVI. Now, three years later, the collection of former colonies is desperate to fend off a push for more transparency
Peas, long an afterthought for most farmers, are in high demand as consumer fervor for alternative protein products grows.
The Trump administration hasn’t revealed the full details of its Middle East peace plan in order to prevent “spoilers” from undermining it, U.S. special envoy Jason Greenblatt said.
What’s Tracy Alloway thinking about? The Bloomberg executive editor is interested in how the role of U.S. currency in the international financial system leaves financial flows open to politicization. There are a bunch of flow-type things that the U.S. could use to inflict pain on China, from banning investment in Chinese assets to cutting off Chinese companies' access to the ADR market. These are extreme measures of course, but it's possible U.S. politicians and their Chinese government counterparts are already thinking about them.
What you’ll need to know tomorrow
- Elizabeth Warren is earning begrudging respect on Wall Street.
- Trump is putting himself at the center of July 4 celebrations.
- Photo booths are getting extreme. Flame-thrower-level extreme.
- Airports are allowing people into terminals just to hang out.
- Hundreds of millions of dollars of "young whiskey" goes up in flames.
- Luckily, there's still old whiskey to drink this summer.
- Chevy can't keep up with Ram's booming pickup sales.
What you’ll want to read in Pursuits
In the U.K. there’s old money, really old money and then there’s C. Hoare & Co. The London firm was started in 1672 by Richard Hoare and has tended to the affairs of diarist Samuel Pepys, poet Lord Byron and novelist Jane Austen. That’s almost a hundred years older than the famous Rothschild dynasty, which was founded in the 1760s. After more than three centuries of continuous operation, the family still runs the show, overseeing about 4.4 billion pounds ($5.6 billion) of deposits and sticking to a traditional way of doing business.
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