‌

Lights Out: Trump Is Dismantling US Climate Science at a Dangerous Pace (Bloomberg)

‌

The Trump administration is going to war with established climate science. Mass firings, regulatory rollbacks, program closures, and funding cuts across agencies have compromised the nation’s ability to gather and assess data on climate change, reducing the amount of high-quality information that policymakers and business leaders can use to guide their decisions, potentially for years to come.

‌

It’s the most aggressive targeting of climate science by any US administration, according to interviews with more than a dozen current and former federal workers and officials, academic researchers and members of Congress. It parallels Trump officials’ efforts to sideline or question other types of widely accepted expertise, from vaccine research to labor statistics.

‌

The assault has left hundreds of federal scientists out of work, but its impacts reach much further. Datasets that industries and policymakers depend on have gone dark. Weather forecasting nationwide has been strained. The cancellation of billions of dollars in grants has halted work on, to cite only two examples, mapping of flood and storm risks for the US Coast Guard and improved stormwater infrastructure for towns in North Carolina.

‌

Not every cut and rollback will survive the many lawsuits that have been filed to stop them. Some moves have already been reversed.

‌

Fortunately, the global climate science effort is less dependent on the US than in prior decades, according to Jake Schmidt, senior strategic director of international climate for the Natural Resources Defense Council. Other countries and private companies have launched satellites that can collect climate and weather data that only the US did a decade or two ago.

Today in Tech.

‌

Today, the tech world will be watching Apple's biggest product launch event of the year where the tech giant will introduce its next-generation iPhone lineup, new smartwatches and other peripherals from its Cupertino, California headquarters.

The highlight of Apple’s big event will be its thin and light “iPhone 17 Air” along with the latest high-end iPhone 17 Pro and Pro Max models featuring new backs that give a fresh look to the camera areas.  The company is also planning a Perplexity rival and continues its attempt to launch AI features in China. 

The event begins at 1PM ET/10AM PT at Apple's Cupertino headquarters and will be streamed on Apple's website.  Click here to see a preview of the event from Bloomberg's Mark Gurman, and follow live coverage on TLIV on the terminal. 

‌

Preview: What to Expect from Apple's 'Awe Dropping' iPhone 17 Event (Bloomberg Technology)

Transit Chaos in London.

Tube Strike: Londoners Flock to E-Bikes, Boats as Transit Chaos Hits (Bloomberg UK)

‌

Londoners are turning to transportation alternatives in droves as a Tube strike shut down much of the London Underground.

‌

Lime, the operator of rental e-bikes and e-scooters, said total trips during the four-hour morning rush jumped 58% from the same day a week earlier. Riders also traveled longer and farther, with trip durations rising 37% and distances up 24%.

‌

The surge came as limited Tube services ran during the peak commute hours, with widespread station closures across the capital.

‌

Other services also reported surging demand. Forest, an electric bike-sharing service, said trips at 9 AM Monday local time were four times higher than normal.

Uber Boat added an extra shuttle between Canary Wharf and London Bridge to carry office workers along the Thames River.

‌

Downing Street has urged the union and Transport for London to “get back around the table” to resolve the dispute.  The strike is scheduled to last until Thursday.

What I'm Reading.

France Latest:  Emmanuel Macron to Name New French Premier After Francois Bayrou Loses Confidence Vote (Bloomberg)

‌

Francois Bayrou, a centrist with a long history of doing business with rival parties will resign today, nine months into the job, after failing to win support for his deficit-cutting plans from a National Assembly fractured into uncompromising factions. Bayrou had replaced Michel Barnier, a veteran of the center-right, who also resigned after losing a no-confidence vote in December.

With no obvious solution to the parliamentary impasse, some parties, including Marine Le Pen’s far-right, are calling for fresh legislative elections but Emmanuel Macron is said to be reluctant. His allies argue that a another election would do little to address the divisions in French politics and would risk handing more power to the far right.  Bloomberg News has a look at the frontrunners here.

‌

Cashing In: Trump Family Adds $1.3 Billion of Crypto Wealth in Span of Weeks (Bloomberg)

‌

The haul from crypto firm World Liberty Financial and separate mining operation American Bitcoin Corp. shows how still-nascent projects are already translating into tangible wealth for the first family. The sums rival the values of long-held golf and resort properties that had been synonymous with the Trumps, whose fortune now stands at $7.7 billion, according to the Bloomberg Billionaires Index.

US Education Alert: Twelfth-Grade Math and Reading Scores in US Hit New Low (Wall Street Journal)

‌

American high-school seniors’ scores on major math and reading tests fell to their lowest levels on record, according to results released Tuesday by the U.S. Education Department. Twelfth-graders’ average math score was the worst since the current test began in 2005, and reading was below any point since that assessment started in 1992. The share of 12th-graders who were proficient slid by 2 percentage points between 2019 and 2024 — to 35% in reading and 22% in math. There also were drops in the proportion of students who were able to reach at least a basic level of performance, a tier below proficiency. The results are from tests that are part of the National Assessment of Educational Progress, administered to tens of thousands of students in early 2024.

‌

Must Read on the Bloomberg Terminal: Stocks at Risk of ‘Sell the News’ Drop on Fed Interest-Rate Cut, JPMorgan Traders Say (Bloomberg)

With the impact of tariffs just being felt and a recent weak jobs readout, investors are on edge ahead of an expected rate cut in typically the worst month of the year for the US equity market. Commentary from public and private companies on inflation indicate there is more “tariff-induced cost passthrough” on the horizon, the speed and magnitude of which are unknown. 

‌

US Military School News: West Point Alumni Group Cancels Award Ceremony for Tom Hanks (Washington Post)

‌

Hanks, 69, was to receive the prestigious Sylvanus Thayer Award, which recognizes an “outstanding citizen” who did not attend West Point and has a distinguished record of service that exemplifies the academy’s ideals: “Duty, Honor, Country.” A ceremony and parade were scheduled for Sept. 25.

‌

Retired Army Col. Mark Bieger, president and chief executive officer of the West Point Association of Graduates, wrote that the alumni association, in coordination with the academy, “will not be holding the Thayer Award ceremony” as originally scheduled and apologized for the cancellation. The email did not say whether Hanks’s award has been revoked or if it will be presented in some other format.

‌

Donald Trump took to Truth Social to support the cancellation:

DC Bombshell: Suggestive Jeffrey Epstein Letter Allegedly From Donald Trump Released by House Democrats (Bloomberg)

‌

Media News: Murdochs Reach Deal to Resolve Succession Fight (New York Times)

‌

Lachlan Murdoch will take control of a new family trust in a deal worth $3.3 billion, ensuring that his father’s media empire will retain its conservative slant.

‌

Immigration Carte Blanche: Supreme Court Allows ICE to Make Indiscriminate Stops in Los Angeles (Bloomberg)

‌

Federal immigration agents in Los Angeles can resume using tactics for now that critics say amount to racial profiling, after the US Supreme Court backed the Trump administration’s aggressive enforcement efforts.

‌

Unanimous Court Ruling: Appeals Court Upholds E. Jean Carroll’s $83 Million Judgment Against Trump (New York Times)

‌

A federal appeals court on Monday unanimously upheld a $83.3 million jury award against Donald Trump for defaming the writer E. Jean Carroll in 2019. The court also rejected Trump’s argument that the Supreme Court’s decision last year affording presidential immunity for official acts barred a finding of liability in Carroll’s lawsuit.

‌

Looming Fiscal Crisis? States Face Massive New Costs Under Trump Budget Cuts (Washington Post)

‌

Unlike the federal government, states must balance their budgets each year.  Democratic-run states say the impacts of the federal cutbacks will be severe, and several Democratic governors have said there is no way for states to backfill the scale of the cuts.

‌

Tariff Impact: Brazil's Lula, China's Xi Decry Tariffs and Urge BRICS Unity Amid Trump Threats (Bloomberg)

‌

Brazil’s Luiz Inacio Lula da Silva convened a virtual meeting of BRICS countries on Monday to discuss US trade practices that have included the imposition of 50% tariffs on many of his nation’s goods.  Both he and China's Xi Jinping urged BRICS members, which includes Brazil, Russia, India, China, South Africa and more) to stand united in defense of a multilateral system they said is under threat.

‌

Fossil Fuel Boon: Detroit’s Carmakers to Save Billions in Trump Emissions Rollback (Bloomberg)

‌

General Motors Co. last week said it would cut electric-vehicle production plans at two factories as it overhauls a third plant to make gas-fueled pickups, instead of battery-powered trucks. Ford Motor Co. is moving funds from a canceled three-row electric SUV to future internal combustion engine vehicles and hybrids, while Jeep-owner Stellantis NV is resurrecting the thirsty Hemi V-8 engine.

‌

Norway Election News: Norway’s Labor Prime Minister Jonas Gahr Store Declares Election Victory (Bloomberg)

‌

Don't Miss Today's Daily Read Podcast: Click here to listen to the latest episode of the AI-generated companion of today's newsletter on Spotify. It's also available on Apple Podcasts. Take a listen today.

‌

Congrats! Global Cities Wins Progressive Education Delivery Award from Partners in International Education (Bloomberg Philanthropies - Facebook)

Through Global Cities' signature Global Scholars international exchange program, more than 120,000 students worldwide have learned to collaborate across cultures, address real-world challenges, and build the skills they need to thrive in an interconnected world. Learn more about Global Cities here.

‌

Tonight in New York: Laura Dern and Bloomberg Philanthropies’ Patti Harris to Be Honored at Oceana’s New York Gala (Variety)

‌

Dern will be honored alongside Patti Harris, CEO of Bloomberg Philanthropies, which has long supported Oceana’s mission to rebuild abundant and biodiverse oceans. 

‌

NYC Hotel News: The World’s Most Eccentric Hotelier Brings Fun Back to New York (Bloomberg)

‌

Faena New York, which officially opens along the High Line on West 18th Street today, is full of contradictions. It’s the sexiest new hotel in New York, where hotels have become so associated with muted, serene designs and astronomical pricing that you might wonder where all the city’s artists have disappeared to. 

Click here to see more photos of what's inside, and here's a look at the front entrance:

Faena New York’s entrance. Photographer: Ashok Sinha for Bloomberg Pursuits

Best of Late Night.

‌

"Recently in San Francisco, two United planes on the tarmac bumped into each other. United calls that an accident while Southwest just calls it a high five."

-- Jimmy Fallon

On Florida's plans to end all vaccine mandates:
 

“The way Governor DeSantis sees it, why should Florida’s old people be the only ones allowed to die?” 

-- Jimmy Kimmel

‌

“That’s right, the state where we all send all of our grandparents is eliminating vaccines, so enjoy your Golden Weeks!” 

-- Seth Meyers

And from Stephen Colbert: a fiery rebuttal after Trump declared Chicago “the worst and most dangerous city in the world, by far.” Colbert leapt to the city’s defense with sharp fact-checks and personal memories from his years living there. Click the photo below to watch.