Could the trade war morph into a currency war? The White House brought Huawei back into the equation after Beijing said it was stopping the purchase of U.S. farm goods. President Trump said there’s no need to devalue the dollar, while the Chinese yuan had its wildest week in years.

What you’ll want to read this weekend

The massacres in El Paso and Dayton have jolted Republicans. They’re concerned about losses in suburbs, and a Tump fundraiser in the Hamptons prompted boycott threats. Even the NRA is in turmoil.

Italy’s government is close to collapsing. Deputy Prime Minister Matteo Salvini expects a vote by October, and the economy is already rocky.

The stampede into haven assets has been remarkably swift. But don’t worry—negative interest rates aren’t so weird.

A mere 26 words created the mess we know as the internet. And for $500, you can leave Gmail forever. (It's harder than it appears.)

Steve Jobs once threatened to spend every penny of Apple’s worth to fighting the Android operating system. He lost. 

What you’ll need to know next week

• The ghost of Peronism will haunt Argentina's primaries. 
• China is targeting Cathay Pacific as Hong Kong protests continue.
• Saudi Aramco, Walmart and Macy's will report earnings.
• Joe Biden makes the wrong impression at the Iowa State Fair.
• Germany’s economy is buckling, figures Wednesday will show.

What you’ll want to see in Bloomberg Graphics

A sset Managers Are on the Brink

Star money managers are in a moment of existential angst. The world is moving so quickly to passive management, with its low fees and competitive returns, that only the strongest will survive. There's $74 trillion at stake.

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