Your Evening Briefing
They run the world’s most profitable company, oversee one-tenth of global oil output and their decisions help shape the fate of a nation. Their paychecks, however, are a little less grandiose. Saudi oil giant Aramco is a cash cow for the kingdom, allowing the royal family to wield power with a drip-feed of petrodollars. But for executives, it’s a relatively modest life compared with some of their peers elsewhere.
Here are today’s top stories
House Speaker Nancy Pelosi said Friday she expects the impeachment inquiry of President Donald Trump to begin public hearings this month, but insisted there’s no deadline to finish the investigation.
The House of Representatives voted on Thursday to publicly endorse the Trump impeachment inquiry. Timothy L. O’Brien, writing in Bloomberg Opinion, says Trump isn’t ready.
Senator Elizabeth Warren said she would fund her version of Medicare for All with taxes on large corporations and the wealthy, a tax evasion crackdown, a reduction in defense spending and by putting newly legalized immigrants on the tax rolls.
The 2019 California wildfire season was remarkably quiet. Until it wasn’t. October arrived and 80,000 acres erupted in flames. This is how it happened.
Berkshire Hathaway had its worst year since 2009, and investors are split on what to do about it. The company reports quarterly results Saturday.
For more than two decades, airline credit cards offered consumers a simple formula: Spend a dollar, earn a mile, pay an annual fee, repeat. If you played the game correctly, you’d score at least a free ticket each year—just by making everyday purchases. Now the rules are changing.
What’s Luke Kawa thinking about? The Bloomberg cross-asset reporter says the idea that the Fed was done on delivering easing didn’t rattle stocks much. An interesting situation, given how things looked at the start of the year, when the risk rally was quite reliant on the Fed.
What you’ll need to know tomorrow
- Missing the Brexit deadline made these currency bets worthless.
- China just won WTO approval of $3.6 billion in U.S. sanctions.
- How Jim Simons built the world’s most lucrative black box.
- Russia is shipping hundreds of millions of dollars to Venezuela.
- Ken Fisher strikes back with ads featuring female employees.
- The Supreme Court will consider stripping the SEC of some power.
- Elon Musk is going offline for awhile.
What you’ll want to watch in Bloomberg Originals
Think of the human brain as an immensely powerful supercomputer. But as one of the most complex systems in nature, there’s still much to learn about how it works. That’s why researchers from the Human Brain Project are attempting to unravel even more of its mysteries. In the final installment of Moonshot, a Bloomberg Originals series, we show you how they are unlocking its intricacies.
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