Wednesday, June 5

ByKevin Sheekey

Hot on the Bloomberg:
U.S. Companies Add Fewest Jobs Since 2010, ADP Data Show
Companies added the fewest U.S. workers in May than in any month since 2010, suggesting a potential pullback in the labor market amid weakness in some parts of the economy.

World Bank Cuts Global Outlook as Trade Tumbles to Decade Low (Bloomberg)
The World Bank cut its 2019 global growth forecast, citing a slowdown in trade growth to the weakest since the financial crisis a decade ago and a drop in global investment.

Trade Today:
-Boeing in Talks for China Megadeal That Trade War Could Derail
(First on the Bloomberg)
-First FedEx, Now Ford. China Clamps Down on U.S. Companies (Bloomberg)
-Trump’s Tariff Spree Comes With Big Electoral Risks (Bloomberg)
“Voter approval on trade policy appears to be no higher in key competitive states than in other states, and overall presidential approval in those states has declined by more than the national average,” according to a new report from Goldman Sachs.

Market Watch: Fed Inches Toward Rate Cut as Trump’s Trade War Frays Patience (Bloomberg)

Populism Watch: Wall Street Is Desperate for Wonks Who Can Explain the Rise of Populism (Bloomberg)

Denmark Elections: 41-Year-Old Woman May Become Youngest Ever Danish Prime Minister (Bloomberg)
Danes are set to oust a center-right coalition after 4 years as voters look set to pick a left-leaning government led by a woman promising more welfare, higher taxes and tougher rules for banks.

Today in Market Transparency: Corporate Climate Disclosures Improving But Still Insufficient For Investors – Michael Bloomberg (Forbes)
“We remain encouraged by the continued growth in the number of companies adhering to the guidelines of the TCFD – it means businesses are better informed about the risks they face, and investors are more capable of making sound decisions,” said Michael R. Bloomberg, Chair of the Task Force on Climate-Related Financial Disclosures (TCFD).

“However, we’re also clear-eyed about the serious threat that climate change poses. In order to keep people out of harm’s way, and build a more resilient global economy, we need more companies to follow their lead – and soon,” he said.

A Model for Hurricane Recovery: Bill Clinton Urges Virgin Islands and Caribbean to Set World Standards for Disaster Recovery, Resilience and Clean Energy (Virgin Islands Daily News) Former President Clinton called the region an effective “ground zero” for both worsening storms and the bold, new ideas that will fend against them during the Clinton Global Initiative Action Network on Post-Disaster Recovery held in St. Thomas this week.

Clinton closed the event Tuesday by thanking Bloomberg LP co-founder Tom Secunda for helping make the event possible. Secunda has been leading Bloomberg’s recovery efforts in the U.S. Virgin Islands since back-to-back category 5 hurricanes hit the U.S. Virgin Islands in September 2017.

California Health News: Beverly Hills Becomes First U.S. City to End Most Tobacco Sales (Los Angeles Times)

Architecture Today: Inside Apple’s Earthquake-Ready Headquarters (New York Times)
‘The spaceship’ is one of a relatively small number in the United States that use so-called base-isolation technology. It’s a mammoth example of a technology that reduces earthquake shaking by as much as 80 percent.

Best of late night.

On protesters in London who took to the streets to march against President Trump’s visit to the U.K.:

“British protesters are no joke. Tens of thousands protesting Trump, and this was in the rain, which I know to them is a summer day. But that’s not the point.”
— Trevor Noah

On President Trump saying in a press conference with Prime Minister Theresa May that he only saw large crowds there to welcome him:

“Well, if there’s one thing Trump knows how to estimate, it’s a crowd size.”
— Jimmy Kimmel

On Rihanna clarifying how to correctly pronounce her name:

“What makes it even worse is that she wrote a song called ‘What’s My Name?’ That would have been the perfect time to tell us your name!”
— Trevor Noah

For more Best of Late Night from the New York Times, click here.

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