General Motors said it will lay off more than 14,000 employees and close seven factories worldwide. The company cited a need for realignment as the future of electric and self-driving vehicles approaches. The affected U.S. plants, however, are located in regions already hard hit by job losses and slow wage growth. Wall Street cheered the announcement, pushing the automaker's shares higher. —David E. Rovella Here are today's top storiesA landmark U.S. government climate change study filled with sobering news about how, by 2090, Americans will be forced to pay hundreds of billions of dollars more every year to sustain their current lives, didn't say how to slow the damage bringing that reckoning.
A Chinese researcher claimed he helped make the world's first genetically edited babies, twin girls whose DNA he said he altered with a powerful new tool capable of rewriting the very blueprint of life. Facebook's continuous state of crisis this year is putting immense pressure on Chief Operating Officer Sheryl Sandberg, undermining her authority and tainting her image. The Mars InSight survived a harrowing descent to the red planet's surface. The probe's mission will help NASA prepare for manned missions. Democrats like Nancy Pelosi don't want to impeach President Donald Trump, Francis Wilkinson writes for Bloomberg Opinion, but Special Counsel Robert Mueller may make that impossible. Their reluctance may stem from the Democratic Party's "blue wave" on election day, when an emphasis on healthcare and Social Security (rather than Trump) seemed to pay dividends. What's Joe Weisenthal thinking about? The Bloomberg news director is thinking about the big hole markets are in, and the nine weeks of turbulence that got us here. What you'll need to know tomorrowRussia attacks Ukraine's ships, so Ukraine declares martial law.One of Trump's closest aides plans to quit.Las Vegas is home to the world's biggest marijuana store.Commodities will soar next year according to Goldman Sachs.The bottom is nowhere in sight as far as Bitcoin is concerned.The plug-in hybrid is just hitting its stride. Too bad it's about to die.JPMorgan says leveraged loans will still be hot come 2019. Sponsored Content by Bright Cellars Two MIT grads walk into a VC firm (no, not a bar) and the result was a venture-backed wine company that is fueled by - you guessed it - data science. Their algorithm can predict wines you'll like by asking 7 easy non-wine questions (how do you take your coffee?). Take the quiz to see your matches. What you'll want to read tonightCommercials have got it all wrong: The easiest way to win the holidays is not by giving your lucky recipients something they never expected—it’s giving them a better version of what they already have. Have you started strategizing for 2019? We have. Don’t miss the annual Bloomberg Businessweek special report, The Year Ahead, on the major trends, disruptions, breakthrough products, innovations and movements to watch in the coming year. Get Bloomberg All Access in time to receive this issue in print and much more. The global economy is at an inflection point. Sign up for the Turning Points newsletter to be one of the first to receive weekly insights—and solutions—on climate, tech and trade from Andrew Browne and leading experts. Download the Bloomberg app: It's available for iOS and Android. |