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Oil prices rose as Saudi Arabia reported drone attacks on its pumping stations (attacks later attributed to Iran-backed forces in Yemen) days after alleged sabotage of oil tankers by unknown parties off the United Arab Emirates. With U.S. President Donald Trump ratcheting up economic and military pressure on Iran, including moving ships and planes to the region based on unspecified threats, all eyes are on the brewing confrontation, and what may come next.
Here are today’s top stories
Markets recovered some of the ground lost in the Monday rout triggered by Trump’s trade war with China, but that may not last for long: the White House is preparing another round of retaliation.
It’s possible China miscalculated. John Authers writes in Bloomberg Opinion that by raising tariffs, Trump puts pressure on China to stimulate its economy, which will lead to a recovery in U.S. share prices.
A Ukrainian lawmaker accused his country’s top prosecutor of fabricating a “conspiracy” about former U.S. Vice President Joe Biden, a leading 2020 presidential candidate, to curry favor with the Trump administration.
“I wanted you to get up and drink it.” That’s what a juror, who just helped hand $2 billion to plaintiffs suing over Bayer’s Roundup weedkiller, told a lawyer for the chemical giant when asked for feedback.
The discovery that hackers could snoop on WhatsApp should tell you something: “End-to-end encryption” sounds nice, Leonid Bershidsky writes for Bloomberg Opinion, but if anyone can get into your phone’s system, they will be able to read your messages without having to decrypt them.
This Manhattan building was once the crown jewel for a flamboyant New York real estate developer. But now no one wants to live there. Hint: It’s straight out of the 1980s, is covered in gold trim and has his name on it.
What’s Joe Weisenthal thinking about? The Bloomberg news director predicts a possible recovery for healthcare stocks, and how that may be an indication of whether Wall Street believes the eventual Democratic presidential nominee will try some version of “Medicare For All” if elected, or instead hew closer to the status quo that is Big Health.
What you’ll need to know tomorrow
Trump’s trade war has Wall Street thinking recession again. There may have been no way to win with the Uber IPO. This Stanford admissions scandal dad has a new problem. Republicans may break with Trump when it comes to tariffs. There’s a $1.9 trillion fund giant with a crazy idea about investing. The U.S. is resisting a call to shield Venezuela from creditors. Alice Rivlin, the former Fed official and hater of deficits, is dead.
What you’ll want to read tonight in Pursuits
The Buick Roadmaster Estate wagon. You remember them: the eight-passenger wagons that General Motors made in the 1990s. Supersized and all-American, they were used by families on summer road trips and camping expeditions. Though they later became a punch-line, those beauties with the simulated wood-grain sides are oddly in favor again.
To contact the author of this story: David Rovella in New York at firstname.lastname@example.org
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