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The U.S. Federal Trade Commission approved a record privacy settlement against Facebook requiring the social-media company to pay about $5 billion to resolve an investigation stemming from the Cambridge Analytica data scandal. —David E. Rovella
Here are today’s top stories
U.S. stocks ended a record-setting week, one which saw both the Dow and S&P 500 mark new highs. Investors may still be hoping for a Fed rate cut this month, despite an indicator that inflation is rearing its head.
Producers in America’s oil-rich shale basins are dialing back growth plans as a panoply of problems kill returns and scare off investors.
Johnson & Johnson’s denials about its baby powder and whether it’s connected to cancer just earned it a federal criminal investigation.
E-cigarette companies must submit applications to U.S. regulators by next May to keep their vaping products on the market.
U.S. farmers who stowed their soy to wait out President Donald Trump’s trade war with China made a good bet.
Goldman Sachs Ex-CEO Lloyd Blankfein can’t figure out why U.S. Senator Bernie Sanders is picking on him.
What’s Luke Kawa thinking about? The Bloomberg cross-asset reporter says this week has seen the beginnings of duration risk, rather than credit risk, falling out of favor in the marketplace.
What you’ll need to know tomorrow
- The planet has a 2 billion-ton trash problem, and it’s getting worse.
- New York’s Cuomo wants a subway crackdown on the homeless.
- A Japanese crypto exchange got taken for $32 million.
- Boris Johnson could face a royal obstacle to his Brexit plan.
- IAG ordered the Boeing Max because it was fed up with Airbus.
- Fired bankers are having a tough time getting work in Hong Kong.
- The world’s biggest diamond mine is closing.
What you’ll want to read in Bloomberg Pursuits
We went to the top chefs in search of foods that you might not realize are actually great cooked over a hot fire. Not T-bones and rib-eye, or asparagus or citrus or skin-on, bone-in chicken—but thick-cut bologna for a smoky sandwich and crisp cucumber for a novel side.
To contact the author of this story: David Rovella in New York at firstname.lastname@example.org
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