Decades of denial by the forces of fossil fuel are coming to an end, refuted by the unprecedented heat, drought and wildfires visited upon the planet in recent years. Less certain has been the nexus between global warming and the increasingly powerful cyclones that have been wreaking mass havoc on both sides of the globe. That is, until now.  —David E. Rovella

Here are today's top stories

Remember Steve Cohen? The hedge fund manager whose now-defunct firm SAC Capital was famously run to ground by the U.S. government for securities fraud? Well even he says a bear market is coming in 2020.

The collapse of oil prices is sending shock waves across global markets, with energy stocks dragging everything else down with them.

U.K. Prime Minister Theresa May declared victory in her pusuit of a Brexit deal, but her triumph may ring a bit hollow.

After the European Union slammed Romania for democratic backsliding, a top legislator for the Balkan nation gave it the finger.  

Trade war irony, courtesy of the CEO of shipping giant Maersk: Chinese exports to the U.S. actually grew by as much as 10 percent last quarter while U.S. exports to China fell by up to 30 percent. 

California’s biggest utility lost half of its value over the possibility that it's responsible for one of the catastrophic wildfires ravaging the state.

What's Joe Weisenthal thinking about? The massive U.S. budget deficit has a silver lining, the Bloomberg news director opines. Since most of it is tied to steady government outlays such as healthcare, that means the economy is less susceptible to violent cyclical swings.

What you'll need to know tomorrow

• A key Democrat is demanding changes to the new Nafta deal.
• In just five days, Apple cost investors $107 billion.
• Democrats pick up another House seat, this time in New Jersey.
• Lindsey Graham called Saudi Arabia's crown prince "unstable."
• Donald Trump isn't the first president to attack the press.
• The FBI is probing this sexuality wellness company.
• It's Thanksgiving: Here are the 10 best mail-order pies anywhere.

What you'll want to read tonight

Is This Gambling Mecca's Luck Running Out?

Since Macau opened its doors to Las Vegas operators 16 years ago, revenue at its casinos has surged tenfold, to $33 billion, making it the world’s gaming capital. But the luck of gambling houses in the former Portuguese colony may be running out, Bloomberg Businessweek reports.

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.

How climate science and the future of energy reshape our world. Sign up for Bloomberg's weekly Climate Changed newsletter to get the best of our coverage about climate science and the future of energy, straight to your inbox.

Download the Bloomberg app: It's available for iOS and Android.