(Bloomberg) --
U.S. President Donald Trump may have placed himself in deeper jeopardy by releasing a memo that purports to recount his call with Ukraine President Volodymyr Zelenskiy. The rough transcript provided by the administration shows Trump imploring the leader of a country dependent on U.S. aid to help him smear Vice President Joseph Biden. In a single call, Trump sought to enlist a foreign government's aid in his re-election, use his personal lawyer to sidestep diplomatic channels and deploy the top law enforcement officer in America, William Barr, to assist in his campaign. Here's a primer on impeachment.
Here are today's top stories
A new United Nations climate report warns of what one author called “an existential crisis” that's already wrought permanent changes to the Earth. Seas are rising faster, getting warmer and more acidic than previously predicted, the report said, endangering most everything in them and everyone who relies on them. Even if humans spent the trillions of dollars needed to both slow global warming and adjust to the changes already coming, damage has already been done that cannot be undone.
Bernard Arnault, the billionaire chairman of luxury retailer LVMH, called climate activist Greta Thunberg's views “demoralizing for young people.” Arnault contends “we still need growth” days after the teen berated world leaders for pursuing “fairy tales of endless economic growth.”
U.K. Prime Minister Boris Johnson offered opposition parties the chance to trigger a formal no-confidence vote, a move that would put Britain on course for a general election. The Tory was also vigorously booed as he labeled “humbug” one MP's emotional plea that he stop using inflammatory language about Brexit. In her plea, she cited the assassination of Labour MP Jo Cox by a far-right extremist.
Trump's lawyers are making a novel argument in court as they try to block a subpoena for his tax records: The president can't be investigated.
Altria installed one of its own executives into the top job at Juul, which said it would halt its marketing and lobbying efforts following criticism from lawmakers, anti-smoking advocates and parents concerned about a surge in underage vaping. The news of high-level changes at Juul came as Altria and Philip Morris ended their negotiations on a potential merger.
The average cost of health coverage in the U.S. now tops $20,000 a year, a record high that has pushed an increasing number of American workers into plans that cover less or cost more—or force them out of the insurance market entirely.
What's Joe Weisenthal thinking? The Bloomberg news director says the events of yesterday taught us a valuable lesson: Impeachment is a market moving event.
What you'll need to know tomorrow
- Facebook settled, but the government has new ad bias targets.
- Amazon unveiled new gadgets and defended its privacy features.
- Trump lawyer Rudy Giuliani may be in legal trouble himself.
- A bank executive caught up in a money-laundering scandal is dead.
- Unprofitable companies are raising money at an incredible rate.
- One of WeWork's new CEOs was known as “the adult in the room.”
- One of Japan's cheapest meals is getting even cheaper.
What you'll want to read in Businessweek
In the U.S., more than 25 million tons of plastic a year ends up in landfills. Polypropylene is one of the biggest culprits. Just 3% of it gets recycled—compared with about 29% for polyethylene terephthalate soda bottles—because of technical problems. Now a scientist at Procter & Gamble thinks he's solved them. All he had to do was get rid of the smell.
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