Your Evening Briefing
Your Evening Briefing
(Bloomberg) --
Global hunger is on the rise, as are temperatures and water shortages. To develop new varieties of crops that can survive in a warmer, wetter or drier world, researchers must sift through a wide range of plants to find key traits, like drought- and pest-tolerance. But just as more regions come under climate stress, commercial and political interests are preventing the sharing of seeds and genomes necessary for scientists to adapt crops. The threat posed to humanity is growing.
Here are today’s top stories
Private equity firms are increasingly turning to an obscure type of loan, once almost exclusively used to finance smaller deals, to fund larger and larger buyouts. A growing number of analysts and investors warn the debt may be riskier than it appears.
Uber’s biggest market in Europe is at risk after regulators revoked the ride-hailing service’s license to operate in London for the second time in less than three years.
President Donald Trump told the Treasury Department and Justice Department to look into the impact of U.S. sanctions on a Turkish state-owned bank after being lobbied by Turkey’s president.
Elon Musk made Ford’s pickup truck look like a wimp compared with his new Cybertruck. Now Ford wants a rematch.
Shoemaker Allbirds called out Amazon for copying its $95 sneakers made from fine merino wool and selling them for one-third the price.
A vegan sued Burger King over its “Impossible Whopper.” Stephen L Carter writes in Bloomberg Opinion that he may have a point.
What’s Joe Weisenthal thinking about? The Bloomberg news director says it used to be a trendy thing to say that, while Bitcoin was a speculative bubble, there was a lot of potential in blockchain technology. Superficially it made sense to draw a distinction, that the technology should succeed regardless of what Bitcoin or any other cryptocurrency was doing. But in the real world, Joe says, there’s not much evidence of that happening. If you look at a chart of interest in blockchain on Google, it’s been falling non-stop ever since the 2017 crypto bubble burst.
What you’ll need to know tomorrow
- Democratic candidate Michael Bloomberg is taking an untested path.
- Honk Kong pro-democracy forces win big in an election.
- Bitcoin may be headed for the basement again.
- But Russia has a super cool Bitcoin mining operation. Look inside.
- More records were broken in U.S. stock markets.
- Elon Musk says NASA is ripping off SpaceX.
- Louis Vuitton buys Tiffany for $16 billion.
What you’ll want to read tonight in Businessweek
Located on a sun-beaten commercial strip in east Jacksonville, Lucky Charms wasn’t a traditional arcade. Rather, customers visited it to play games that mimic the look and feel of Las Vegas slot machines. These “adult arcades,” have taken root in strip malls all over the U.S., operating next to convenience stores, laundromats and vape shops in jurisdictions where casino gambling is illegal. Proponents see them as harmless fun and as a source of steady employment in a difficult retail environment. Critics see them as ersatz casinos that prey on the poor and the elderly.
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