New Study: Immigrants and Their Kids Founded 45% of U.S. Fortune 500 Companies (Axios)
Fortune 500 companies in the U.S. founded by immigrants or their children employ 13.5 million people, and on average employ 11% more people than the average Fortune 500 company with a non-immigrant founder, a new study by New American Economy found.
In a Boris Johnson Cabinet: Who Will Be Britain’s Next Chancellor of the Exchequer? (Bloomberg)
The bookmakers’ favorite is Sajid Javid. Other contenders include Jeremy Hunt, assuming he loses the leadership race, and Liz Truss, Matt Hancock, Amber Rudd and more.
Hong Kong Latest: Mob Attacks Hong Kong Protesters as Beijing’s Warnings Fuel Hong Kong Anxiety (Bloomberg)
Economy Watch: Goldman Says 4,000 Conference Calls Show Dimmer U.S. Economic Outlook (Bloomberg)
Sentiment expressed in public communications by the biggest American companies slumped in June to the lowest level in at least a year, driven by negative mentions of economic growth and international relations, according to an analysis by Goldman Sachs.
Today in Financial News: China Opens Up Financial Sector to More Foreign Investment (Bloomberg)
Climate Read of the Day: Why Central Banks Need to Step Up on Global Warming (Foreign Policy)
The thinking behind Bloomberg’s financial disclosures task force is: identify and disclose risks so that markets and regulators can prepare themselves for the worst case.
“As Bank of England Governor Mark Carney envisions it: ‘Stress testing, built off better disclosure and a price corridor, could act as a time machine, shining a light not just on today’s risks but on those that may otherwise lurk in the darkness for years to come.’”
Financial Technology Today: Bloomberg Wins Big in 2019 Waters Technology Rankings (Waters Technology)
Bloomberg won four categories: Best Market Data Provider, Best Sell-Side Order Management System (OMS) Provider, Best Execution Management System (EMS) Provider and Best Reference Data Provider.
Robert Mueller Testifies on Wednesday: Impeachment Hangs Over Mueller Hearing as Democrats Have Fresh Chance to Hit at Trump (Bloomberg)
While You Were Distracted: Trump’s EPA Clears Pesticide Tied to Children’s Health Problems (New York Times)
Culture of Corruption: EPA’s Watchdog Scrutinizing Ethics Practices of Key Architect of Trump Efforts to Weaken Federal Climate Rules (Washington Post)
It is the third inquiry into whether Bill Wehrum, who headed the Environmental Protection Agency’s air policy division from November 2017 until last month, violated federal ethics rules.
NRA in Crisis: Floundering NRA Struggles to Maintain its 2016 Influence in 2020 Race (CNN)
In Memoriam: Robert Morgenthau, Longtime Manhattan District Attorney, Dies at 99 (New York Times)
In a statement on Morgenthau, Mike Bloomberg said: “When it came to crime, he was as tough on those who carried guns as he was on those who wore pinstriped suits. After leaving office, he remained an eloquent voice on gun safety and immigration reform. Few have served so honorably and effectively over so long, and his legacy will be felt for many years to come.”
Arts at the Bloomberg Arcade in London: Artist Duo Unveils Living Artwork of 52 Oak Trees at Bloomberg Arcade to Inspire Climate Action (The Art Newspaper)
The living installation, on view through early September, includes fifty-two trees grown from acorns collected from German artist Joseph Beuys’s monumental 1982 artwork, 7000 Oaks.
Disney’s Box Office Blowout: ‘Avengers: Endgame’ Conquers ‘Avatar’ To Become Highest-Grossing Film of All Time (Deadline)
Best of late night.
On the 50th anniversary of the Apollo 11 mission to the moon:
“Back then, everybody held their breath and nobody knew if we’d make it. Today, that’s just called flying Southwest.”
— Jimmy Fallon
On the heatwave hitting New York and much of the U.S.:
“This week it has been nearly 90 degrees or warmer for nearly 90% of Americans. Let me put it this way: If you know anyone who uses natural deodorant, no longer know them.”
— Stephen Colbert
“Here in New York, the humidity is close to 100%. It’s so humid, tonight’s crowd is just last night’s crowd still stuck to their chairs.”
— Jimmy Fallon
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