Fed Chairman Jerome Powell signaled an openness to cutting interest rates, pledging to keep a close eye on trade fights between America and its largest trading partners. Powell, under pressure from President Donald Trump to ease borrowing costs, said “we do not know how or when these issues will be resolved.” —Josh Petri

Here are today’s top stories

Trump claimed the U.S. and U.K. could triple their trade after Brexit, but stirred controversy when he hinted that Britain’s government-run health system could be opened up to American companies.

Trump's tariff spree comes with massive electoral risks, Bloomberg Businessweek reports. Voters welcomed the first wave of levies against China, but they've been wary of everything since.

China issued a travel advisory to its citizens about the U.S., citing recent “frequent” shootings, robbery and theft in America. 

As big as its car market is, China decided that 486 aspiring electric-vehicle companies is too many. The country is considering rules to raise the barrier to entry.

Scientists are warning that the next generation of wireless networks could negatively affect their ability to accurately forecast and track hurricanes.

The Carpoffs ran a solar company that did so well it counted Warren Buffett as an investor. They owned more than 90 cars and a professional baseball team. But it was all built on an alleged fraud.

What’s Joe Weisenthal thinking about? The Bloomberg news director is watching investors pile into the GLD ETF at the fastest pace in almost three years. That said, the actual rally is impressively mediocre.

The May 3 edition of Bloomberg's Evening Briefing incorrectly referred to African swine fever in an item related to the disease's effect on China's hog population.

What you’ll need to know tomorrow

• The man who secretly lent Paul Manafort $1 million came forward.
• The buy-side trader is the latest job to be outsourced.
• U.S. travelers are wary of flying Boeing's 737 Max again.
• Apple was sued by developers who claim it's fixing app prices.
• Jeff Bezos may be coming to New York City after all.
• Bumble, the dating app, is opening a wine bar.
• The science of resurrecting extinct species.

What you’ll want to read tonight in Pursuits

M ichelin Releases Its First California-Only Guide

As if further proof was needed that California has become the center of America’s food universe, consider this: Michelin historically bestows its famed stars only once a year. Last November, the international food guide showered the Bay Area with stars. Seven months later, they are back again, this time recognizing the entire state. 

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