ADVERTISEMENT

Your Evening Briefing

Your Evening Briefing

(Bloomberg) --

President Donald Trump said he’s lifting just-imposed sanctions on Turkey after the country, according to Trump, complied with a cease-fire agreement with Kurdish forces in Syria. Trump claimed his approach to Turkey, which is busy consolidating control of northern Syria with Russia, was a success. Instead, it’s reigniting bipartisan attacks on Trump’s decision to withdraw U.S. forces, abandoning U.S. allies and triggering a Turkish assault that included roadside executions and dozens of dead civilians, including children. 

Here are today’s top stories

Trump had advance knowledge of (and supported) a protest by Republicans who barged into a secure room on Capitol Hill where Democrats were holding impeachment hearings. Democrats, meanwhile, began making plans for public hearings. 

Exxon couldn’t stop a New York lawsuit over its role in the global climate crisis. But the state attorney general had to eventually change its argument from planetary destruction to plain securities fraud. To those protesting, it didn’t matter: They just want Big Oil to pay.

Google said it’s built a computer that’s reached “quantum supremacy,” performing a computation in 200 seconds that would take the fastest supercomputers about 10,000 years.

PG&E will preemptively shut off power to more than 1 million people Wednesday in its latest attempt to keep power lines from sparking wildfires in California. 

Mankind has long been fascinated with living on Mars. In the second episode of Bloomberg’s Giant Leap video series, we explore the companies working to make that a reality.

WeWork will revamp SoftBank’s Tokyo headquarters and Softbank will give WeWork a $9.5 billion lifeline as the embattled company shifts to prioritize profit over growth. Thousands of rank-and-file staff will lose their jobs, but the company’s executives will receive severance packages in the multimillion-dollar range, and it’s former leader may take home $1.2 billion. Needless to say, employees are outraged.

What’s Joe Weisenthal thinking about? The Bloomberg news director says Modern Monetary Theory is indeed coming, but it may not look like you expect. Joe, drawing on the recent work of Srinivas Thiruvadanthai, says it’s coming because people are tired of taking on burdensome student loan debt in order to enter a labor market that’s rarely at full employment. MMT is coming because a policy of ongoing bubbles means buying a home keeps getting further out of reach. MMT is coming because people are starting to think that maybe things don’t work the way they’ve been told they do.

What you’ll need to know tomorrow

What you’ll want to read in Businessweek

After grounding their Boeing 737 Max fleets for most of 2019, airlines expect to resume flying the once-hot-selling plane in early 2020. While that’s good news for carriers that have ordered almost 5,000 of the fuel-sipping jetliners, a big question remains: Will travelers be nervous about flying an airplane involved in two highly publicized catastrophes that killed hundreds of passengers?

Your Evening Briefing

©2019 Bloomberg L.P.