Iran’s destruction of a U.S. drone was an escalation of Tehran’s standoff with the administration, but President Donald Trump downplayed it, suggesting a “stupid” individual may have been responsible. It was the second time in a week he minimized Iran’s actions against U.S. interests. His response unnerved some in Congress. While Iran said the strike was a “clear message,” there’s new urgency on Capitol Hill to resolve a long-running fight over presidential war powers. —Josh Petri

Here are today’s top stories

U.S. pressure on Iran is working, our editorial board writes in Bloomberg Opinion, but Trump’s ultimate goal remains unclear.

Secret negotiations between Boeing and IAG, the parent company of British Airways, led to the sales coup of this year’s Paris Air Show: a $24 billion deal for 200 737 Max planes. Two of the Boeing model recently crashed, killing 346 people and triggering a worldwide grounding. Airbus, meanwhile, is spoiling for a fight over the proposed deal.

Who’s winning the tech cold war? The U.S.-China trade battle is, at its core, a battle for tech supremacy. We’re keeping score. 

U.S. suicide rates are at their highest level since World War II. Life expectancy has fallen for three straight years. The nation, Bloomberg Businessweek reports, is in the midst of a mental health epidemic.

After five rounds of voting, Boris Johnson and Jeremy Hunt will compete in a final runoff to replace Theresa May as U.K. prime minister.

A legal loophole may leave some of the music industry’s most famous (and valuable) tunes up for grabs. 

What’s Joe Weisenthal thinking about? The Bloomberg news director is remembering a time when the mere hint Amazon might enter a market was enough to send shares of incumbent players reeling. However, not everything Amazon touches turns to gold anymore. The ecommerce giant hasn’t been able to get much traction in grocery, even after buying Whole Foods. And earlier this month, the company shut down its restaurant delivery business. 

What you’ll need to know tomorrow

• Trump believes he has the authority to replace the Fed chair.
• The NRA suspended its chief lobbyist and one of his deputies.
• Slack hits a $21 billion valuation after going public.
• Roy Moore wants to run for Senate despite sex misconduct claims. 
• It’s official: Cooking great barbecue is no longer easy.
• BMW’s billionaire heirs say their lives are harder than you think.
• The U.S. is getting old. Half of Americans are over the age of 38. 

What you’ll want to read tonight 

What’s Wrong With Skyscrapers? Everything 

Embedded in the sleek lines and elegant cantilevers of modern buildings sprouting up in city centers is a huge amount of pollution. Whether it’s the distinctive Shard skyscraper in London or the World Trade Center in New York, modern structures rely on cement and steel. And while those materials may look benign, making each involves chemical processes that throw off tons of carbon dioxide in addition to the energy they consume. 

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