Friday, October 4

ByKevin Sheekey

Brexit – 28 Days Away.

Boris Johnson is Running Out of Time on Brexit (Bloomberg’s Brexit Bulletin)

After making his pitch to the European Union yesterday, Prime Minister Boris Johnson starts trying to win support in Parliament for a Brexit deal that until recently would have been rejected both by hardliners in his own Conservative Party and lawmakers from Northern Ireland.

Extension Update: Brussels Ready to Bypass Boris Johnson and Grant Brexit Extension (The Times – UK)

Economic Impact: U.K. Construction Woe Continues as Brexit Hits New Orders and Shrinks for Fifth Straight Month (Bloomberg)

Subscribe to Bloomberg’s Brexit Bulletin online or on the Bloomberg terminal here.

Impeachment Watch.

Economy Watch.

Today’s Data: U.S. Jobless Claims Edge Up Amid GM Strike, Factory Malaise (Bloomberg)

U.S. Jobs Outlook Is So Weak It Echoes Disaster-Hit Months (Bloomberg)

The trade war and manufacturing recession are starting to permeate the economy at a time when companies are already struggling with a shrinking pool of qualified workers.

Financial News.

How Private Equity Ate Finance and is Taking Over the World (Bloomberg Businessweek cover)

Spurred by cheap loans and investors desperate to boost returns, funds have snapped up businesses from pet stores to doctors’ practices to newspapers. PE firms may also be deep into real estate, loans to businesses, and startup investments—but the heart of their craft is using debt to acquire companies and sell them later, making billionaires out of many founders.

Forbes 400 2019: The magazine’s annual list of wealthiest Americans is out, and here are the top 10:
1 – Jeff Bezos – $114B
2 – Bill Gates – $106B
3 – Warren Buffet – $80.8B
4 – Mark Zuckerberg – $69.6B
5 – Larry Ellison – $65B
6 – Larry Page – $55.5B
7 – Sergey Brin – $53.5B
8 – Michael Bloomberg – $53.4B
9 – Steve Ballmer – $51.7B
10 – Jim Walton – $51.6B

Note: The Bloomberg Billionaires Index provides a daily ranking of the world’s 500 wealthiest and can be found online here or on RICH <GO> on the Bloomberg terminal.

Trade Today.

US to Put Tariffs on Europe Planes, Whiskey After WTO Ruling Against EU (Bloomberg)

The World Trade Organization gave the go ahead to the U.S. to impose tariffs on as much as $7.5 billion worth of European exports annually in retaliation for illegal government aid to Airbus. The award is the largest in WTO history.

Editorial: Don’t Allow Airbus-Boeing Dispute to Keep Escalating (Bloomberg Opinion)

Trump’s chaotic trade wars are already having profoundly negative effects on the world economy. A WTO forecast published this week predicted sharply slowing global trade growth.

With fears of recession rising, the last thing the world needs is another costly and senseless battle between the U.S. and Europe.

Global Headlines.

Aviation Today.

News of the Wild.

Viral Video: Catering Cart Spins Out of Control at Chicago O’Hare, Nearly Crashing Into Parked Plane (CNN)

Runaway Bull Corralled and Tranquilized After Roaming the Streets of Baltimore (New York Times)

This was the third time this year that a bovine has gotten loose in the city. Watch here.

Arts in London.

For Frieze, There’s No Place Like London (New York Times)

The organizers of Frieze London and Frieze Masters continue to capitalize on London’s role as a market hub and cultural center.

Frieze runs from today through October 6. Harpers Bazaar has a handy guide on what to see here.

Best of late night.

“It was 90 degrees today in New York City. Right now, every guy in your office who wears shorts year round was like ‘Woah woah woah…Now who’s the weirdo?’”
— Jimmy Fallon

“That’s right it was 90 degrees today in New York. It was brutal out there. On the sidewalk, people were spritzing themselves with Pumpkin-Spiced Lattes!”
— Jimmy Fallon

“It was so hot, President Trump wasn’t the only thing melting down.”
— Jimmy Fallon

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