Most Read on the Bloomberg:
Iran Says It Shot Down U.S. Drone as Regional Tensions Soar (Bloomberg)

Economy Today: U.S. Federal Reserve – Economy Slowing Amid Trade Uncertainties (Bloomberg)

U.S. Rates Curve Screams Recession Coming Soon, and Fed Easing Won’t Prevent Recession (Bloomberg)

UK Today:
Boris Johnson’s Backers Eye Early U.K. Election in Autumn, Despite Brexit Crisis (Bloomberg)

Bank of England Sees Rising No-Deal Brexit Concern Amid Tension With Markets (Bloomberg)

Grinding to a Halt: U.K. Manufacturing Output Stalls on Automakers’ Brexit Shutdown Amid Brexit Uncertainty (Bloomberg)

Goldman, Citi, Standard Chartered Among Banks Delaying Brexit Asset Shifts (Bloomberg)

Trade War Latest:

Impasse on Trade War Tops Investor Concerns, Spurs Hunt for Refuge (Bloomberg)
The standoff between President Donald Trump and Chinese counterpart Xi Jinping emerged as the biggest challenge facing money managers at a Bloomberg investment forum in Sydney Thursday. The fallout is forcing them to lengthen their horizons and search for a refuge.

Why a Trade Truce Is Becoming Less, Not More Likely (Bloomberg Economics – Tom Orlik)
The alternatives to a deal are looking better to both the U.S. and China, which means the prospects for an agreement are looking worse.

Message to Trump: China Sees New Chapter in North Korea Friendship (Bloomberg)
Xi Jinping meets Kim Jong Un in Pyongyang as he began the first visit by a Chinese leader to Pyongyang in 14 years. The trip sends President Trump a pointed message ahead of the G-20 summit in Japan.

Destined to Fail: Trump Tries to Save Coal Plants But It Won’t Save Industry (Bloomberg)
The Environmental Protection Agency’s rewrite of the Clean Power Plan, which was signed Wednesday in Washington, will do little to halt a nationwide shift away from coal and toward cheaper electricity generated by wind, sun and natural gas.

Himalayan Glacier Melt Speeding Up: Cold War Spy Imagery Shows “Water Towers of Asia” Melting Twice as Fast (Bloomberg)
The 650 glaciers under study in parts of China, India, Bhutan and Nepal were found to be melting at the rate of about 0.43 meters of water a year between 2000 and 2016, or twice as fast as they did between 1975 and 2000.

World Refugee Day: Record Number of Displaced People Worldwide – UN Report (CNN)
More than 70 million people have been forced to flee homes due to violence or persecution. Put in perspective, one in every 108 people on the planet has been displaced.

Pride Month Progress: Business Can’t Get Enough of the Rainbow: It Only Took 50 Years (Bloomberg Businessweek cover)
Walmart’s deal With Ellen DeGeneres shows how much America has changed since she came out, and she symbolizes the nation’s acceptance of gay rights.

Future of Aviation: Electric Planes to Debut for Airline Serving Nantucket, Martha’s Vineyard (Bloomberg)
Boston’s Cape Air is the first customer of all-electric plane maker Eviation.

Architecture Review: The TWA Hotel at JFK Revives a Magnificent, Mid-century Vision of the Friendly Skies (Washington Post)

Best of late night.

“We are just two days away from the official start of summer. Which means kids are forced to take those summer jobs no one else wants, like pool cleaner, delivery boy, White House press secretary…”
— Jimmy Fallon

“President Trump is doing his first interview with Telemundo, which will air tomorrow night. It will be a little different. For example, ABC’s interview was called ‘President Trump: 30 Hours.’ This one is called ‘El Presidente Loco.’”
— Jimmy Fallon

On a video of man asleep at the wheel of a Tesla for more than 30 miles on a busy California freeway while the car was on autopilot mode:

“The only thing shocking in the video was that traffic was actually moving in LA.”
— Trevor Noah

“If you ask me, the only person acting unsafely is the person shooting the video. He’s the one recording a cell phone video…while driving a car!”
— Trevor Noah