Your Evening Briefing
Your Evening Briefing
Deutsche Bank employees were bracing for bad news this weekend. The email from human resources told some to show up at work Monday at 8 a.m. Three hours later, their badges would be disabled. The slashing of one-fifth of the German bank’s 91,000 person workforce has sent financial professionals packing from Sydney to Mumbai to New York. But it was in London where the ax cut deepest.
Here are today’s top stories
U.S. equities fell, treasuries edged lower and gold retreated as investors look forward to a week filled with central bank activity.
The Justice Department alleges that fund manager Jeffrey Epstein used his wealth and power to sexually abuse dozens of young girls. But his prosecution also raises questions about how he made his fortune, and whether U.S. President Donald Trump has anything to fear.
America owes $22 trillion, and a think tank said there’s a “significant risk” the nation will breach its debt limit in September unless Congress acts.
House Speaker Nancy Pelosi accused the Trump administration of wanting to “make America white again” with its attempt to add a citizenship question to the Census. The U.S. Supreme Court has blocked the effort, but the White House isn’t done: a group of Justice Department lawyers tasked with finding a workaround were just replaced.
At a time when the education industry is driving more Americans toward insurmountable debt, high school students know very little about how financial aid works.
Consumer debt is still all the rage, though. The month of May saw the largest advance in revolving debt outstanding since October.
What’s Joe Weisenthal thinking about? Cryptocurrency. The Bloomberg news director is reflecting on his favorite book about digital cash, which explores the pre-history of Bitcoin. In the latest episode of Odd Lots, he speaks with the author.
What you’ll need to know tomorrow
- This trade war twist cost U.S. steel $5.6 billion.
- New York makes it legal to reveal Trump’s state tax returns.
- Amazon workers are planning a Prime Day strike.
- Bill Gates says he’s a minor wizard, but Steve Jobs was Gandalf.
- Businessweek tells you how to make money as a dungeon master.
- The U.S. women’s soccer final beat the men in ratings, by a lot.
- Wilson’s Clash 100 tennis racket boasts both power and control.
What you’ll want to read tonight
Two days after Elon Musk’s SpaceX launched 60 satellites as part of a mission to bring quick internet service to people worldwide, astronomers noticed something different. As some of them zipped past the Lowell Observatory in Flagstaff, Arizona, telescopes trained on the night sky captured streaks of reflected sunlight.
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