The conflict began with a tweet. Turkish President Recep Tayyip Erdogan announced the start of “Operation Peace Spring,” a strangely named military invasion of northeastern Syria. Turkey’s attack followed a dramatic reversal of American policy by President Donald Trump, who after a call with Erdogan, decided to order the retreat of U.S. forces from the area. The move cleared the way for Erdogan’s assault on the Kurds, who up until that moment were a U.S. ally. Trump reportedly said, in response to a question about his decision, that the Kurds didn’t side with the allies in World War II and that ISIS fighters who may escape will likely flee to Europe. —Josh Petri Here are today’s top storiesTrump spun his decision to retreat as a win for the U.S. while members of Congress called it a gift to terrorists, Iran and Russian President Vladimir Putin. The conflict could reshape the balance of power in a volatile region. China is still open to reaching a partial trade deal with the U.S., signaling that Beijing is focused on limiting the damage to its economy. U.S. stocks gained on the news. Trump enlisted former Representative Trey Gowdy to join White House staff trying to defend Trump against Congress’s impeachment inquiry. House Democrats aren’t the only ones investigating Trump. The Manhattan District Attorney recently questioned Trump’s former personal lawyer, Michael Cohen, who is currently in prison. FEMA has bought 44,000 houses in flood-prone areas over the last 30 years. As climate change intensifies, they may have to buy millions more. PG&E preemptively shut off power to millions of people in California in an attempt to prevent wildfires as high winds were forecast for the state. What’s Luke Kawa thinking about? The Bloomberg cross-asset reporter is weighing the potential economic ramifications of an Elizabeth Warren presidency. Drawing on the work of Keynes, his colleague Joe Weisenthal flags that one of the big things markets have to fear is fear of a business-unfriendly president itself. What you’ll need to know tomorrowThe world’s biggest pork producers warn of bacon shortage.The NBA lost almost all of its major Chinese sponsors.Fed minutes show officials debating when to halt easing.The U.S. is no longer the world’s most competitive economy.The Navy’s new $7.8 billion destroyer is running six years late.Airline seatback screens may be an endangered species.The puffy winter jacket doesn’t always have to be puffy.What you’ll want to read in BusinessweekCustomers adore Tesla’s autopilot software, and the company considers it a crucial first step toward building the world’s first truly autonomous vehicle. Most of the time, Autopilot gets drivers where they’re going even if they’re reading books, napping or strumming a ukulele. But the software sometimes fails to spot hazards, and appears to have played a role in four fatalities. Eventually, the technology could save the lives of millions of people. But it’s going to kill some people first. Like Bloomberg’s Evening Briefing? Subscribe to Bloomberg.com. You’ll get our unmatched global news coverage and two premium daily newsletters, The Bloomberg Open and The Bloomberg Close, and much, much more. See our limited-time introductory offer. Leap ahead of the competition: Get the news and ideas shaping global markets every morning with Bloomberg Surveillance. Bloomberg's Jon Ferro, Tom Keene, and Paul Sweeney are your go-to source for the latest on the economy, finance and international relations. Subscribe now via Apple Podcasts, Spotify or wherever else you listen. Download the Bloomberg app: It’s available for iOS and Android. Before it’s here, it’s on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. Learn more. Sponsored Content by monday.com monday.com, an award-winning project management tool, helps teams plan together efficiently and execute projects that deliver results on time. Its ease of use and flexibility means fast onboarding for your team and the ability to manage your work your way. Learn More |