Your Evening Briefing
The European aviation authority issued a blanket ban on the 737 Max, joining Australia, Singapore, India and others. The groundings put more pressure on Boeing and further isolate the FAA, which has assured passengers the jet remains airworthy after two crashes. Boeing shares fell for a second day, this time by 6.1 percent.
Here are today's top stories
OPEC is sending a clear message to Wall Street: if Washington passes a law that allows the U.S. to sue the cartel, the first victim will be shale.
The U.S. Army's five-year plan would end or reduce 186 existing weapons programs and shift an estimated $25 billion to new projects.
Elon Musk told the SEC he uses Twitter carefully. His tweets tell a different story.
What's Joe Weisenthal thinking about? The Bloomberg news director has decided he can no longer ignore the debate swirling around Modern Monetary Theory. His take? The key thing to recognize is that MMT isn't some policy waiting to be implemented; at its core, it's an attempt to (rightly or wrongly) describe the world as it exists right now.
What you'll need to know tomorrow
- Bill Gates has a plan to get the rich to pay more taxes.
- San Francisco's own Green New Deal is taking over a utility.
- A hit sneaker was designed using 100,000 foot scans.
- Buyers have the upper hand in the hottest U.S. housing markets.
- Amazon might do serious damage to FedEx and UPS.
- Musk's Boring Co. could build a tunnel system in Las Vegas.
- Beijing is uncertain it can trust Trump to close a trade deal.
What you'll want to read tonight in Businessweek
Being big in China didn’t used to mean much. In 2013 the music industry made less money there than it did in Denmark. That’s changed. Baidu now runs a streaming music service that pays for rights, and other big Chinese internet companies have invested billions of yuan into their own streaming services. In 2017, China became one of the world’s 10 biggest music markets for the first time. By next year, it could be in the top five.
©2019 Bloomberg L.P.