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It’s getting scarier. That’s the takeaway from intelligence officials who warn that Beijing’s decade-old program to “facilitate the legal and illicit transfer of U.S. technology, intellectual property and know-how” presents an unprecedented threat to America. The Trump administration has sought to highlight such dire warnings as it promises more trade tariffs against China.  

Here are today’s top stories

Google engineers refused to work on a project that would have helped win U.S. military contracts. They became known as the “Group of Nine” and were lionized by like-minded staff. 

The EU, as promised, retaliated against President Donald Trump's aluminum and steal barriers with tariffs on $3.3 billion in U.S. goods. Trump responded with a threat to escalate his global trade war with a 20 percent tariff on EU-built cars. Europe said it will hit back.

The White House is still trying to figure out how to fully implement its promised retreat from Trump's policy of taking children away from immigrant parents. Congress isn't helping.

OPEC and allies including Russia will boost oil production starting next month, offering relief to consumers after Saudi Arabia secured a last-minute deal to overcome opposition by Iran.

Russia is also opening a new front in its antagonistic relationship with America: it wants to sell weapons systems to U.S. allies that are better and cheaper than those made in the states.

There’s an infinitesimal chance an object from deep space could suddenly make everything you've read to this point superfluous. NASA has a plan to prevent such an asteroid apocalypse.

What’s Luke Kawa thinking? The Bloomberg markets reporter says don't look to U.S. household balance sheets as a reason for the current expansion to end, but instead to the tipping point when companies have to pay too much to service their recent buffet of corporate borrowing.

What you’ll need to know tomorrow

• Malaysia has a new central bank governor.
• This Ethereum billionaire looks to China for the next cryptocurrency winners.
• Nintendo is still very, very much around.
• The U.S. Supreme Court bolstered mobile phone privacy rights.
• Trump pledged to open a Minnesota national forest to mining.
• Can you really make a twice bankrupt, $2.6 billion Atlantic City casino work again?
• America didn't make the cut so Americans aren't watching the World Cup.

What you'll want to read tonight

Now you can wear sweatpants to work and no one will know. Wade Eyerly got an invitation to the New York Stock Exchange, telling him to come dressed in “business professional” garb. Instead, he pulled on a pair of stretch pants that look like slacks but feel like yoga wear. “I was, like, ‘This is amazing,’” he says. Welcome to commuter-wear.

To contact the author of this story: David Rovella in New York at drovella@bloomberg.net

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