Your Evening Briefing

Here are today's top stories

Want to receive this post in your inbox every afternoon? Sign up here.

Is there a more maligned means of travel than commercial air? New York's LaGuardia airport has been an easy target for politicians illustrating the country's infrastructure issues. When you consider baggage fees, the sense of helplessness instilled by delays, and new pat-downs so "comprehensive" that TSA thought to warn local police, it's a wonder travelers actually pay to fly at all. Architect Lord Norman Foster shared his thoughts on how to take the torture out of flying. And somehow, Bloomberg Businessweek's Claire Suddath finds reason to love America's worst airports. –Emily Banks

U.S. airports say they need $100 billion in the next five years for capital projects. They can only fund about half of that on their own, according to a study by a group representing commercial airport owners. A number of changes have stretched existing facilities, including higher passenger and cargo activity, aging infrastructure, and consolidation in the airline industry that has increased the demand for hubs, the study said.

Trump sent pharma stocks down with a new tweet on drug prices. The president promised to lower medicine costs for the American people, in a tweet sent just before 9 a.m. ET on Tuesday. He said he’s working on a “new system where there will be competition in the drug industry.” Mylan, maker of the EpiPen, declined 1.9 percent at 11:05 a.m., while Perrigo dropped 2.5 percent and Allergan fell 1.7 percent.

Republicans unveiled legislation to repeal and replace the Affordable Care Act, proposing to phase out key parts of the law over several years as they try to break a stalemate between moderates and conservatives in their party. Called the American Health Care Act, the House Republicans’ proposal includes a refundable, age-based tax credit to help people buy insurance. It ends Obamacare’s requirement to have coverage, and would eventually eliminate many taxes used to fund the 2010 law.

Kim Jong Un is stirring up tension in Asia, trying to provoke a reaction from Trump. Murder in Malaysia. Protests in China. Missiles flying toward Japan. The question for Trump, China’s Xi Jinping and other leaders is how to respond, seeing as sanctions, cajoling and military pressure have all failed to rein in Kim.

The shale industry is scrambling to catch up to its own boom. Crude is nowhere near its $100-plus highs of recent years, but drillers pounced after it steadily crept back up from the $26 bottom it sank to early last year. And as they tap more and more new wells, the rebound is spreading quickly, and powerfully, to the oilfield-services outfits that were so hard hit during the collapse. Even at $80,000 a year, jobs are hard to fill.

Jeff Bezos’s Blue Origin signed satellite operator Eutelsat as its first paying customer, as it prepares to launch more powerful rockets early in the next decade. Blue Origin’s New Glenn rocket will be capable of flying farther than its New Shepard, which is designed to reach the edge of space to provide tourists a few minutes of weightlessness. The Amazon founder and CEO is joined by billionaire tech moguls Elon Musk and Richard Branson in a space race that’s gained steam under the prodding of Trump.

Ferrari unveiled the speediest production car in its history, underscoring its reputation for uncompromising performance even as the Italian manufacturer pushes the limit of how many autos it can sell without losing its allure. The 812 Superfast debuted at the Geneva International Motor Show on Tuesday with a 12-cylinder, 800-horsepower engine that accelerates to 100 kilometers (62 miles) per hour in as little as 2.9 seconds.

Source: Ferrari