President Donald Trump's former personal lawyer testified before Congress Wednesday. Michael Cohen was emphatic and calm as he described arranging hush money for a porn star and allegations Trump fudged his net worth to get loans. Cohen even brought documents to back up his case. “Everybody’s job at the Trump Organization is to protect Mr. Trump,” he said. “Every day, most of us knew we were coming in and we were going to lie for him." Here's how it all unfolded.—Josh Petri

Here are today's top stories

Timothy L. O'Brien, writing for Bloomberg Opinion, said Cohen's testimony portrays Trump as a "serial grifter." 

Pakistani fighter jets shot down two Indian aircraft in a dramatic escalation between the nuclear-armed nations. "Better sense should prevail," said Pakistan Prime Minister Imran Khan, but the risk of war may hang on the fate of a captured Indian pilot. Get the latest updates here.

The U.S. is pushing for a trade deal with China that includes “significant structural changes” to the Asian nation’s economic model.

Trump and North Korea leader Kim Jong Un will meet Thursday for a session in Hanoi ahead of a signing ceremony for an unspecified accord.

Elon Musk's contentious tweets killed last-minute hopes that a miracle rally would help Tesla convert $920 million of bonds into stock.

Sexual harassment allegations aren't the career-killer some hoped or feared. The men of #MeToo are back.

What's Joe Weisenthal thinking about? The Bloomberg news director is thinking about a potential slowdown in China. The fundamental question of whether Chinese measures to boost its own economy are effective will remain regardless of any trade deal.

What you'll need to know tomorrow

• The Trump SoHo hotel was struggling. Then it dropped his name.
• The global economy may have bottomed out already.
• Africa's richest man makes a $17 billion bid for immortality.
• IBM job applicants are outraged over racially insensitive labels.
• TV ratings are down, so Nickelodeon is investing in stage shows.
• In Beijing, you have towin a license lottery to buy a new car.
• The four-day workweek is never going to happen.

What you'll want to read in Businessweek

Can Anyone Make U.S. High Speed Rail Work?

For more than a decade, California has tried to develop a 520-mile network of trains that travel up to 220 mph. Investing in high-speed rail is a key plank of the “Green New Deal.” But California’s project is in trouble, plagued by overruns, controversy, poor decision-making and questions about the scope of the project. Oh, and there's a fight with Trump, too. 

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