Friday, May 3
Economic Surprise: U.S. Jobs Top Forecast at 263,000 Gain; Wages Miss Estimates (Bloomberg)
The jobless rate unexpectedly fell to 3.6 percent to a 49-year-low while average hourly earnings growth was unchanged at 3.2 percent, below projections.
-Strongest Storm to Hit India in Decades: India, Bangladesh Evacuate 3.5 Million People as Cyclone Fani Makes Landfall – Tens of Millions in Storm’s Path (Bloomberg)
-Taking Action: Angela Merkel Weighs German Carbon Taxes to Speed Pollution Cuts (Bloomberg)
-Wrong Action: Trump Rolls Back Safety Rules Meant to Prevent Another Deepwater Horizon Spill (Washington Post)
Today in Washington: Nancy Pelosi Accuses Attorney General of Breaking the Law as Democrats’ War With Him Boils Over (New York Times)
Important Note: After Attorney General’s Snub, Democrats Lack Options to Compel Cooperation (Bloomberg)
U.S. Senate Watch: Democrats Short on Recruits for Bid to Retake Senate in 2020 (Bloomberg)
NRA in Crisis: Senate Democrats Ask NRA Execs, PR Firm for Documents Related to Alleged Self-Dealing (Washington Post)
Hot on the Bloomberg:
-Humans Banish Bots: BlueMountain Is Said to Liquidate Its $1 Billion Quant Portfolio (Bloomberg)
The hedge fund is liquidating its computer-driven portfolio as it shifts back to focus on its roots: human-run fixed income and credit.
-Minting Billions: Buffett’s 2,472,627% Gain Fueled Berkshire Billionaire Families (Bloomberg)
Berkshire Hathaways’s growth has helped create at least seven billionaires.
-Huawei Again Overtakes Apple to Become Second Biggest Smartphone Maker (Bloomberg)
-EU’s Antitrust Probes of Big Tech Aren’t Over, EU Competition Commissioner Margrethe Vestager Tells Bloomberg TV (Bloomberg)
-Nasdaq Chief Adena Friedman Doubles Down on Data and Tech as NYSE Fight Intensifies (Financial Times – subscription)
-Financial Firms Spend Up to $3,000 Per Employee on Cybersecurity (Bloomberg)
Saving Lives: Bloomberg Initiative to Reduce Tobacco Use Will Collectively Save 30 Million Lives Globally (Health Affairs)
A decade of support for tobacco control laws by the Bloomberg Initiative to Reduce Tobacco Use led to law reforms in 59 countries that, collectively, will save 30 million lives. The Task Force on Fiscal Policy for Health estimated that one tool alone – higher taxes on tobacco, alcohol, and sugary drinks that raised prices by 50% – could prevent 50 million premature deaths over the coming decades. Sugar, alcohol, and tobacco taxes are cutting-edge legal strategies to safeguard the public’s health.
Instagram of the Day: From last night’s Bloomberg Square Mile Relay in New York’s Seaport district, watch Bloomberg chairman Peter Grauer greet the winners of the all women team competition. Bloomberg’s FastHER team, led by Meghan Holohan, won the category with a time of 1:10:24. Citi won the overall competition for the second year in a row with a time of 53:01. I’m proud of Team Sheekey Daily Read that clocked in with a time of 1:08:09, slightly edging out Grauer’s Pacemakers team at 1:16:38 (with Grauer running an impressive 9:05 mile).
Arts Weekend: What to Hit This Weekend at the Frieze Art Fair in New York (New York Times)
Best of late night.
On U.S. Attorney General William Barr not showing up to testify before the House Judiciary Committee on Thursday:
“Barr said he would not attend because of a dispute about the questioning format. Specifically, he didn’t like the part where they asked questions and he had to answer them.”
— James Corden
“At one point, he tried hiding in a White House closet, but Melania was like, ‘Hey, get your own place!’”
— Jimmy Fallon
“Officials in California have warned that a woman infected with the measles virus attended a midnight showing of ‘Avengers: Endgame’ last week, and may have exposed the crowd to the virus. Meanwhile, a guy with tuberculosis went to see ‘Hellboy’, but thankfully, he was the only one there.”
— Seth Meyers
“According to NASA, there’s a giant asteroid named after the ‘God of Death’ that’s currently plummeting towards Earth. Anyway, enjoy Cinco de Mayo everyone.”
— Jimmy Fallon
For more Best of Late Night from the New York Times, click here.