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In West Virginia, teachers are getting a raise. In Tennessee, Nashvillians are getting a new mayor. And in Washington, the president is getting an earful from allies in Congress, in industry and in Europe on his plans for tariffs. —Sam Schulz
Europe prepares to hit Trump back where it hurts. The European Union is readying 25-percent retaliatory tariffs targeting $3.5 billion worth of iconic American goods, largely made in GOP strongholds, a list obtained by Bloomberg shows. (Think Kentucky bourbon and Wisconsin Harleys.) It's the latest in a drumbeat of warnings on President Donald Trump's steel-tariff plans, after earlier ones from Goldman Sachs and White House economic adviser Gary Cohn, who Trump expects to quit if they go through.
In Trump country, stock bulls are freaking out their brokers. Across middle America, the president's most ardent, and financially comfortable, backers are opening stock-market accounts or beefing up existing ones. Their advisers have tried to tamp down their enthusiasm, to no avail.
China is making a bold military power play. President Xi Jinping has overhauled China's military to challenge U.S. supremacy in the region. But he needs bases around the world and so far has only one overseas. A series of Bloomberg graphics shows what it would take to catch up.
Will teachers' strikes spread to other states? The fury among low-paid teachers that triggered a wildcat strike in West Virginia, the longest in the state's history, may be spreading. The Oklahoma teachers' union said it will shut down schools in the state within months if its demands aren't met.
Britain might boycott the World Cup in Russia. Days after a Russian dissident convicted in his home country was found critically ill on a bench in Salisbury, the U.K. says it's considering tougher sanctions and a boycott of soccer's biggest event if the Kremlin was behind the incident.
Investment managers and doctors are eyeing a loophole in what's supposed to be a mom-and-pop benefit of the new tax law as a way to supersize their savings. A guardrail aims to keep top earners from using the benefit, but a gap lets it go to anyone who runs profits through a cooperative.
Ritz-Carlton is fixing everything you hate about cruise ships. Think about what you might love: Visits to secluded islands. Long, leisurely port calls. A crew that intuits whether you're in the mood for a private tour of a nearby estate or a day of sunning on the deck. It sounds much more like yachting than cruising—which is precisely the point.
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