Wednesday, June 19
Today in Trade Wars: U.S. and China Stoke Trade Optimism with Plan to Resume Talks at Japan G-20 Next Week (Bloomberg)
Another War? Trump Adds Currency Wars to the Mix as Trade Tensions Simmer (Bloomberg)
President’s tweets on the European Central Bank mark a rare intervention by a U.S. leader. Currency wars are starting to flare up again, according to Bloomberg Opinion’s Bob Burgess.
First on the Bloomberg:
Trump Asked White House Lawyers for Options on Removing or Demoting Fed Chair Jerome Powell (Bloomberg)
Reruns Begin: Trump Rehashes Old, Misleading Lines in 2020 Campaign Kickoff Speech (Washington Post)
The Race for the Next PM: Boris Johnson Extends Lead in Race to Become U.K. Prime Minister (Bloomberg)
Those hoping for Brexit clarity from a rare public appearance by Johnson at Tuesday’s BBC debate walked away disappointed. He seemed to be softening his rhetoric: Though he said it was “eminently feasible” to get the U.K. out of the European Union, he refused to guarantee he would meet the Oct. 31 deadline.
Over the next two days, Conservative members of Parliament will narrow the field of possible successors to Theresa May down to two candidates who will then be voted on by party members.
Sustainability Today: London Is Pushing Its Motorists Toward Using Only Electric Cars (Bloomberg)
A suite of policies aimed at cleaning up London’s air pollution isn’t there to penalize drivers but to improve public health, Shirley Rodrigues, London’s Deputy Mayor for environment and energy, said on Tuesday at the Bloomberg Sustainable Business Summit. London Mayor Sadiq Khan introduced an ultra-low emission zone that charges older, more polluting cars a levy to drive through central London for cleaner air.
Bloomberg European Headquarters Named One of London’s Most Sustainable Buildings (The London Economic)
Considered by many to be the world’s most sustainable office building, Bloomberg’s London headquarters achieved the highest-ever Building Research Establishment Environmental Assessment Method (BREEAM) score in 2018.
Scrambling for Resillience: Boston Built a New Waterfront Just in Time for the Apocalypse (Bloomberg Businessweek)
Developers are racing to protect the city’s glittering 1,000 acres from climate change. Since 1980, Boston has experienced the most high-tide flooding of any city along the East Coast. By the end of the century, Boston Harbor could be 2 to 4 feet higher than it is now.
Today in Financial News:
-People’s Bank of China Vice Governor at Bloomberg London: Markets to Play More ‘Decisive’ Role in Yuan Exchange Rate (Reuters)
-Hedge Funds for Everyone: U.S. Securities and Exchange Commission Ponders Letting in the Not-So-Rich (Bloomberg)
-Swelling US Corporate Debt Raises Risk of Global Financial Meltdown – IMF Global Financial Stability Report (Nikkei)
Supporting Bloomberg Journalists and a Free Press: The Overseas Press Club of America added its voice of support for Bloomberg journalists by issuing a statement Tuesday condemning Turkey’s indictment of two Bloomberg reporters. The OPC denounced the action taken by Turkey’s judicial system to indict two Bloomberg journalists “for routine reporting on the challenges facing the Turkish economy.” See their statement on Twitter here.
In a previous statement, Committee to Protect Journalists Executive Director Joel Simon said: “The notion that Bloomberg’s meticulous financial reporting could somehow be a threat to Turkey’s economic stability and a violation of its laws is hard to fathom.”
Boosting Economic Mobility: Bloomberg Philanthropies, the Bill & Melinda Gates Foundation, and Ballmer Group Announce Ten U.S. Cities to Join New Initiative to Increase Economic Mobility (Bloomberg Philanthropies)
The new national initiative will identify, pilot, and measure the success of interventions to accelerate economic mobility for residents of Albuquerque, NM; Cincinnati, OH; Dayton, OH; Detroit, MI; Lansing, MI; New Orleans, LA; Newark, NJ; Racine, WI; Rochester, NY; and Tulsa, OK. Read more from CityLab here.
Best of late night.
On Facebook’s announcement that on plans to introduce its own cryptocurrency that may rival the U.S. dollar:
“Finally, something for everyone thinking: ‘I wish there was a way to give a company that has been stained by years of privacy abuse my bank information!’”
— Stephen Colbert
“Yeah, the company that can’t even keep your data safe now wants to keep your money. It’s like someone dropping a carton of eggs, and then asking if they can hold your baby.”
— Jimmy Fallon
On a recent Fox News poll showing President Trump trailing five Democratic candidates including Joe Biden, Bernie Sanders, Elizabeth Warren, Kamala Harris and Pete Buttigieg:
“Something weird going on at Fox. They’ve started reporting — and I hope I’m pronouncing this right — the truth?”
— Stephen Colbert
“Fox News, you pledged to be there for him for better or worse. Keep this up, and he’s going to leave you for a younger network.”
— Stephen Colbert
For more best of late night from the New York Times, click here.