Your Evening Briefing
Here are today’s top stories.
President Donald Trump has turned his attention to securing a peace agreement with North Korea, which just released three detained Americans. Meanwhile, the European Union is desperately trying to hold the Iran nuclear accord together. Trump's decision to exit the pact left companies—which originally rushed to do business with Iran—scrambling to get out.
Here are today's top stories
The Kremlin said it's "extremely important" that Trump and President Vladimir Putin meet in order to safeguard global stability in the aftermath of the American exit from the nuclear accord.
Bloomberg Opinion columnist Timothy L. O'Brien says the payments were likely made "for the same, old-fashioned reason money usually changes hand in places like New York and Washington: self-interest."
Walmart spent $16 billion to buy a controlling stake in Flipkart, India's biggest online seller. Wall Street seems skeptical of the deal, and shares dropped as much as 4.2 percent.
Oil surged past $71 for the first time since 2014 as American stockpiles shrank and the U.S. told buyers they have six months to curb their purchases from Iran.
What's Joe Weisenthal thinking? The Bloomberg Markets executive editor is defending the state of the Japanese economy. The lesson we can learn, he says, is that massive government debt and a huge central-bank balance sheet can also be a recipe for low unemployment and low inflation.
What you'll need to know tomorrow
- The wealthy are hoarding $10 billion of Bitcoin in underground bunkers.
- Here's how companies use math to make the gender pay gap vanish.
- American factories have one very big problem: abysmal productivity.
- Carmakers are making tons of cash by getting people to pay up for pricey extras.
- Shareholders forced a gun company to prepare a report on the risks of selling guns.
- Democrats proposed a labor law overhaul targeting how gig economy workers are treated.
- California just became the first state to mandate solar panels on almost all new homes.
What you'll want to read tonight
A Picasso nude fetched $115 million at auction. Painted in 1905 during the artist's Rose Period, "Young Girl with a Flower Basket" once belonged to Gertrude Stein, the American writer and collector who was friends with Picasso and other artists in early 20th-century Paris. Her brother Leo bought the painting for $30 the same year it was made, according to Christie's.