It's been a mixed day for U.S. President Donald Trump. A judge ruled he can be sued for improperly profiting from a hotel. A growing army of lawyers is trying to defeat his policies. The collusion probe forced him to put off a visit from Vladimir Putin (whose soccer ball gift had a transmitter in it). The first lady caused a stir with her CNN viewing habit. Someone even smashed his Hollywood star. But a visit from European Commission President Jean-Claude Juncker went well. —Josh Petri

Here are today's top stories

Trump reached an agreement Wednesday with Juncker aimed at averting a transatlantic trade war, easing tensions stoked by Trump’s threat to impose tariffs on car imports.

The new audio tape in which President Trump is heard discussing the rights to a Playboy model's story of an alleged affair, at one point saying "pay with cash," has surfaced a bigger fish, writes Timothy L. O'Brien for Bloomberg Opinion. 

Secretary of State Michael Pompeo confronted harsh bipartisan questioning at a Senate hearing dominated by lawmakers’ ire over Trump’s policies toward Russia and his trade strategy.

The global economy runs on GPS, which is shockingly vulnerable to all kinds of interference. It's in desperate need of a backup plan.

Alphabet employs hordes of contract workers to write code, screen YouTube videos and test self-driving cars. But they reap few of the benefits and opportunities available to full-timers.

Sergio Marchionne, the former CEO of Fiat Chrysler and architect of the automaker’s dramatic turnaround, has died. He was 66.

What's Joe Weisenthal thinking about? The Bloomberg news director wants to know what's so great about manufacturing, anyway? While the debate is often framed around the availability or loss of "blue collar" jobs, the loss of accrued knowledge is also worth further discussion.

What you'll need to know tomorrow

• GM cut its profit forecast, citing Trump's trade war and surging metal prices.
• Attention, millennials: Cash is not a good investment.
• Venmo is the best place to stalk your children. 
• Scientists have discovered an underground lake on Mars, solving a 30-year-old mystery.
• High blood pressure medicine could help prevent dementia in your golden years.
• Black cities in red states win a battle in the war for higher minimum wages.
• The argument for quitting your job and traveling the world. 

What you'll want to read tonight

The World Is On Fire, Thanks to a Kink in the Jet Stream

Record temperatures stretched from Japan to Norway and further west to Texas. In the Arctic, the mercury topped 30 degrees Celsius (86 degrees Fahrenheit). Globally at least 170 people have died. The heatwave is even pushing commodity prices higher. The culprit is a weather system that weakens the jet streams churning through the upper atmosphere.

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