(Bloomberg) --
Ford plans to eliminate about 7,000 salaried jobs—roughly 10% of its global white-collar workforce—as pressure mounts on the automaker amid a global sales slowdown.
Here are today's top stories
T-Mobile and Sprint jumped earlier as FCC Chairman Ajit Pai said he'll recommend his agency approve the companies' $26.5 billion merger. The Justice Department, however, is leaning against the proposed tie-up, Bloomberg reported this afternoon. Shares of both companies fell sharply.
Tesla shares fell below $200 for the first time in more than two years over concerns that the electric carmaker faces what an analyst called a “code red situation.”
It may be years before the U.S. Supreme Court takes up the legality of Alabama's new abortion ban. But the justices could start dropping clues in a matter of weeks.
Nike and Adidas urged President Donald Trump to reconsider his tariffs on shoes made in China, calling his policy “catastrophic.”
Intel, Broadcom, Google and other U.S. companies told employees they will not supply Huawei with their products until further notice following Trump's decision on Friday to blacklist the Chinese company.
The cozy relationship between Trump and Kim Jong Un makes U.S.-North Korea nuclear talks tougher, according to Bloomberg Businessweek. The leaders, who “fell in love” during their first summit, have few options now that discussions have collapsed.
What's Joe Weisenthal thinking about? The Bloomberg news director would like to point out that despite the dire rhetoric about the relationship between America and China, U.S. equities remain close to all-time highs.
What you'll need to know tomorrow
- An anti-U.S. trade war song is going viral in Beijing.
- A billionaire will pay the loans for one college's graduating class.
- Elon Musk has downsized his dreams to end climate change.
- Airstream made an escape pod for the camping-curious.
- The majority of the world's population is pessimistic about their lives.
- Where to live if you want the highest salary and disposable income.
- Sony's deal with Microsoft blindsided its own PlayStation team.
What you'll want to read tonight in Hyperdrive
Pier 400 in Los Angeles is North America's largest shipping terminal. More than 1,700 trucks pass through, on average per day, even in the middle of the Trump's trade war with China. All that cargo translates into thousands of miles driven within the facility each day, mostly by pollution-spewing diesel vehicles. But the future of cargo handling looks like the future of driving: electric motors replacing gasoline engines, and autonomous software replacing humans.
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