Wednesday, July 25

ByKevin Sheekey

Most Read on the Bloomberg Terminal (Last 8 Hours):
-Sergio Marchionne, CEO Who Steered Fiat Chrysler, Dead at 66
(Bloomberg)
-Trump Says U.S., EU Must Cut All Tariffs Ahead of Key Talks (Bloomberg)

Et tu, Brute? Prepare for More Secret Tapes: Candidate Trump Heard on Tape Discussing Buying Rights to Playboy Model’s Story of Alleged Affair (CNN)
Lanny Davis Tells Mike Allen: There’s More to Come on Trump-Cohen Tape (Axios)

Trade Wars Today: It’s Getting Real: World Economy Feels Bite from Trade War (Bloomberg)

Republicans Pan Trump’s $12 Billion Farm Aid Plan (Bloomberg)
Key Quote: Nebraska Republican Senator Ben Sasse said: “This administration’s tariffs and bailouts aren’t going to make America great again, they’re just going to make it 1929 again.”

Protectionism Refresher: After 1929 Stock Market Crash, U.S. Passed the Smoot-Hawley Tariff Act Into Law (Britannica)

Bloomberg to Offer Data from Trading Platform BrokerTec (Financial Times – subscription)
Bloomberg’s service, due to launch July 30 after a previous deal with Reuters expires, will be produced from electronic Treasury transactions on BrokerTec, along with electronic interest rate swap data from Tradition’s Trad-X platform.

Investor Survey: MSCI Wrong to Include China in Key Emerging Markets Index (Reuters)

WSJ Correction of the Day: Chinese government bonds will be included in the Bloomberg Barclays Global Aggregate Index beginning next year. A Heard on the Street column on Tuesday about China’s debt market didn’t state when their inclusion will begin. (Wall Street Journal)


Headlines from around the world.

BBC News: Pakistan election: Dozens Killed as Voters Go To Polls; 31 Dead in Quetta Bomb Attack

China Daily: Vaccine Scandal has Shattered Public Trust in Supervision

Japan Times: Record-breaking High Temperatures Likely a ‘New Normal’ for Japan, Experts Warn

Bloomberg: ‘Fortnite’ Phenomenon Turns Epic Game Developer Into Billionaire


Best of late night.

“Today it was announced that Ivanka Trump is closing her namesake fashion brand. Yeah, she’s closing down her namesake fashion brand because she wants to spend more time with her namesake fascism brand.”
— Stephen Colbert

“Wow, a Trump business failing — who would have ever guessed that something like this could possibly ever happen?”
— Jimmy Kimmel

“Ivanka Trump announced today that she is closing her fashion brand. And look, I know it’s tempting to make jokes, but please — thousands of kids are out of a job.”
— Seth Meyers

“The good news is that no American jobs will be lost, because almost every piece of her clothing was made overseas.”
— Jimmy Kimmel

For more best of late night from the New York Times, click here.