Your Evening Briefing

(Bloomberg) --

Speaker Nancy Pelosi said the U.S. House of Representatives will draft articles of impeachment against President Donald Trump for what she called a “profound violation” of the public trust. “The facts are uncontested,” she said. “The president abused his power for his own personal benefit.” With a Democratic majority controlling the chamber, the announcement means Trump is likely to become the third president to be impeached in history of the republic. 

Here are today's top stories

Saudi Aramco raised $25.6 billion from the world's biggest initial public offering.

Blackrock CEO Larry Fink fired a top official over a consensual affair.

Chinese officials say they'e in close contact with their U.S. counterparts on trade negotiations. The U.S. has pledged to slap tariffs on more Chinese imports if a deal isn't struck by Dec. 15. Stocks rose; bonds fell. 

Trump's approval rating should worry Republicans, Jonathan Bernstein writes in Bloomberg Opinion.  

Former Vice President Joseph Biden called an Iowa voter a “damn liar” after he repeated unsubstantiated claims about Democratic candidate.

New Jersey's cap on property-tax increases may have worked too well.

What's Joe Weisenthal thinking about? The Bloomberg news director is thinking about a recent post by blogger Bill McBride. Growth is easing in both the housing and automotive sectors, McBride points out. “I'm not on recession watch, and I expect further growth in 2020,” he writes, “but the future isn't as bright now.” That may not seem like a particularly dramatic statement, but it's noteworthy from someone whose feel for the economy, Joe says, has been on point for years.

What you'll need to know tomorrow

• Toyota's biggest problem is keeping hybrid car models in stock.
• Trump asked the Supreme Court to keep his finances private.
• College football is a money pit; one school is walking away.  
• It's hard to sell a $225,000 pile of junk at Art Basel Miami.
• Elon Musk says he's worth $20 billion, but he's short on cash.
• Boris Johnson threatens Huawei, then uses a Huawei smartphone.
• Here are 99 gift ideas that will shock and delight.

What you'll want to read in Bloomberg Graphics

Across the U.S., many states have distracted-driving laws. Yet federal studies estimate more than 3,000 people die annually from distracted driving, and safety experts believe the actual number is higher. Laws can't do much in those moments when a seconds-long glance at a phone can result in death. And according to data compiled by Bloomberg, Americans are glancing at our phones an alarming amount of the time.

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