Your Evening Briefing
Here are today's top stories
The evening briefing will soon be available in your inbox every day. To be among the first to get it, sign up here.
Will China's leadership will be able to rein in the nation's debt while maintaining the pace of economic growth? Moody's Investors Service isn't so sure. It cut its rating on the nation's debt to A1 from Aa3 and changed the outlook to stable from negative. It cited the likelihood of a "material rise" in economy-wide debt and the burden that will place on the state’s finances. China's total outstanding credit climbed to about 260 percent of GDP by the end of 2016, compared with 160 percent in 2008, according to Bloomberg Intelligence. Still, Moody's isn't hitting the panic button, saying the "risks are balanced" at the new rating. — Brent O'Brien
Soldiers will patrol British landmarks and sporting events in their biggest homeland deployment in decades as security services warned that another terrorist attack was imminent after a suicide bomber killed 22 people at a pop concert Monday. Meanwhile, U.K. Home Secretary Amber Rudd criticized U.S. officials for leaking details about the attack in Manchester, warning Britain’s ally that it shouldn't happen again.
A former SpaceX technician was fired for complaining to management that rocket-building test protocols weren't followed and results were falsified, jeopardizing the safety of manned trips into orbit, his lawyer told a jury. Jason Blasdell claims he took his concerns as high as Space Exploration Technologies Corp. founder and Chief Executive Officer Elon Musk in the months before he was terminated, purportedly for being "disruptive."
China needs bigger, more efficient and safer farms to meet ballooning demand for meat, fruit and vegetables, and that's presenting an opportunity for a new breed of entrepreneurs. From free-range fowl to strawberries to organic fertilizer, startups are transforming the rural landscape after decades of urban migrants abandoned the land. Every little bit helps, too, as China's in an epic race to avoid a food crisis.
An Olympic architect wants to bring wood back to Tokyo's concrete jungle. Kengo Kuma is using Japanese lumber for the main stadium for the 2020 Games, and his design, modeled on the pagodas of Buddhist temples, stems from his "natural architecture" concept of making buildings part of a landscape. Two-thirds of Japan is covered in trees, but lumber only holds a small—albeit growing—share of the construction market.
A hedge fund that bet against China's economy has sunk 62 percent this year through April. Emerging Sovereign Group's Nexus fund dropped 8.2 percent last month. China bears have suffered as economic growth accelerated in the first quarter, and officials have been guiding the yuan higher against the dollar in a move that's caught market watchers by surprise. In this case, it wasn't a nice surprise.
Around the world in 30 steaks. Restaurant food doesn't get much simpler than a properly cooked chunk of beef—and rarely delivers so much pleasure. From Las Vegas to Tokyo, here's where some of the biggest names go for their favorite cut. And once there, here are seven ways you're ruining that steak dinner.