Your Evening Briefing
Your Evening Briefing
(Bloomberg) --
On Monday, Bloomberg reported how global warming has made feeding humanity harder. On Tuesday, the United Nations rang a starker alarm, one more grim than a decade of grim updates on the consequences of placing short-term financial growth over species survival. Major nations led by most of the G20 have effectively ignored the warnings, the UN said, and instead accelerated fossil fuel use and exploration. Now, the world must cut pollution levels in half by 2030 in order to have a chance at arresting climate change. And the restructuring of economies needed to achieve that end would be only the start: By 2050, humanity must spend $42 trillion (that’s $42,000,000,000,000) to truly slow the quick-march toward catastrophe.
Here are today’s top stories
At least six drugmakers and distributors are under investigation by U.S. prosecutors over how they monitored the dissemination of opioids.
Google wants to do business with the U.S. military and Customs and Border Protection, Bloomberg Businessweek reports. Many of its employees don’t, and have made their position clear. This week, the internet giant once known for its open culture decided to fire some of them.
A major Chinese commodity trader may become the most high-profile state-owned enterprise to default in the dollar bond market in two decades.
Following a summer of political protests and police crackdowns, young Russians who’ve grown up almost entirely under Vladimir Putin now want to leave the country in record numbers.
Leonid Bershidsky writes in Bloomberg Opinion how, after translating George Orwell’s “1984” into Russian this year, he recognized both the Soviet Union of his birth and Russia today.
To many Americans, Thanksgiving means mundane calculations about cooking a turkey. To Native Americans, and especially those attending the 50th annual National Day of Mourning near Plymouth Rock this year, it’s a day of remembering “the genocide of millions of native people.”
What’s Joe Weisenthal thinking about? The Bloomberg news director says the final third of a speech by Fed Chairman Jay Powell last night described how the economic expansion has, according to Powell, seen major gains among minorities, the disabled and people who don’t have degrees. It’s in that context, Joe says, that you should read this Bloomberg article about the work that Neel Kashkari and the economist Abigail Wozniak are doing at the Minneapolis Fed, exploring how monetary policy can be used to fight inequality.
What you’ll need to know tomorrow
- Impeachment-related matters advance in Congress, Supreme Court.
- How China CFA applicants keep beating finance’s hardest exam.
- After WeWork, Softbank’s startup accounting gets scrutinized.
- A $130 billion Nordic pension fund is mulling some “big decisions.”
- Corbyn’s U.K. spending plan backed by 160 economists, academics.
- Hong Kong’s Lam offers nothing after democracy supporters win.
- Following a $1 billion theft, a German museum finds it’s uninsured.
What you’ll want to read in Bloomberg Pursuits
By the time the final chunk of the Cartier jewelry empire was sold off, its founding family was almost entirely dispersed and disinterested. Nearly everyone was wealthy—the Cartier family had an uncanny knack for marrying into money. A new book about the jewelry dynasty goes behind the scenes with the richest people on the planet.
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