U.S. President Donald Trump on Friday opened another front in what's fast becoming a global trade war. This time he attacked the nation's biggest economic rival, China. And Beijing, like the markets, was not amused. —David E. Rovella

Here are today's top stories

Trump said he won't sign legislation to stop the widely assailed U.S. practice of taking immigrant children from parents when they cross the border. Then the White House sought to walk his statement back.

Indicted former Trump campaign Chairman Paul Manafort was jailed after a federal judge revoked his bail for what prosecutors said was an attempt to tamper with witnesses.

Rich Americans may be able to take advantage of a new strategy to avoid the property tax caps imposed by the Republican tax overhaul.

U.S. tariffs on $50 billion worth of Chinese imports may quickly change how Americans buy cars, adding $8,000 to the sticker price of a Buick SUV.

Saudis can't escape the climate of fear that permeates the kingdom months after a corruption purge turned the Ritz-Carlton Hotel in Riyadh into a gilded prison.

Joe Arpaio, Scooter Libby, Dinesh D'Souza—could Wall Street junk bond king Michael Milken be next on the White House pardon list?

What's Sid Verma thinking about? The Bloomberg Markets reporter said that while stock markets favor companies with low debt loads and healthy financial metrics, bondholders have reason to be bearish.

What you'll need to know tomorrow

• Time Warner will get a new name under AT&T: WarnerMedia.
• GM is thinking about an IPO for its self-driving car unit, among other options.
• This German fintech firm may soon be more valuable than Deutsche Bank.
• The four reasons why Angela Merkel isn't going anywhere.
• Renewable energy? Exxon is doubling down on oil.
• It's going to start flooding in New York and Boston even when the skies are blue.
• This is the cryptocurrency analysis you need to read.

What you'll want to read tonight

Ray-Ban Has Your Gold-Plated Aviators Just in Time For Summer

Ray-Bans are so emblematic of summertime that even Don Henley mentions them in The Boys of Summer. Since the shades debuted in 1952, everyone from Bob Dylan to Michael Jackson, Jack Nicholson and Tom Cruise have faced the paparazzi in them. Now you can get a pair with the golden light of a Hollywood sunset built right in.

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