Earthquake puts Pacific on alert

Good morning. A powerful earthquake triggers tsunami warnings across the Pacific. Monday's NYC shooting exposes the vulnerability of corporate executives and employees. And we have the latest on the tensions at US universities. Listen to the day's top stories.

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Four-foot tsunami waves were recorded in Hawaii, and the initial signs of a tsunami were detected in California after a powerful earthquake in Russia's Far East triggered warnings across the Pacific. While some alerts in Hawaii were downgraded to advisories—allowing evacuees to return home—and warnings in Shanghai were canceled, authorities remained watchful. The magnitude-8.8 quake is the strongest worldwide since 2011.

Donald Trump's flurry of trade deal announcements are still a little light on detail. With key aspects still under negotiation, partners are giving mixed signals about what they signed up for, and big numbers seem to be shrinking when they're put under scrutiny. As this plays out, the president said that India may be hit with a tariff rate of 20% to 25%, although added that the levy wasn't yet final.

Turning to markets, US equity futures struggled for momentum ahead of today's Federal Reserve interest-rate decision and a load of major company earnings. The Fed is expected to hold rates, despite Trump asking for a cut. Check out the major market themes right here.

In corporate news, Tesla signed a $4.3 billion agreement to source lithium iron phosphate batteries from LG Energy: their second deal this month with a South Korean manufacturer. Starbucks is still struggling to perk up as sales and profit fell more than expected. And the Aston Martin Formula One team agreed to sell a minority stake that values it at about $3.2 billion, as demand to invest in the sport shows no sign of slowing.

Members of NYPD Crime Unit examine a door with bullet holes at the scene of Monday's deadly shooting. Photographer: Yuki Iwamura/AP

Monday's deadly shooting at a New York City office tower was the worst day in Blackstone's history, company bosses said. The incident yet again exposed the vulnerability of corporate employees even inside the commercial core of America's financial capital, prompting reviews of security procedures across Manhattan.

Deep Dive: Diffusing Tension

Photographer: Sophie Park/Bloomberg

Political drama on American campuses could be calming down, as universities agree payouts for allegations of antisemitism, and bow to demands from the Trump government.

Harvard said it would turn over employment forms for thousands of staff to comply with demands from the Department of Homeland Security.
The university won't share records for students employed in roles only available to students and said that it's evaluating whether such a request complies with privacy protection obligations.
UCLA agreed to pay more than $6 million to settle discrimination complaints brought by Jewish students and staff related to last year's pro-Palestinian protests.
It's the latest US university to settle allegations of antisemitism on campus as Donald Trump pushes elite colleges to make a range of policy changes.
The pressure has increased on schools to strike deals with the Trump administration after Columbia University agreed to $221 million in settlement payments.

The Big Take

The Yarlung Tsangpo river in Nyingchi. Photographer: Sun Fei Xinhua / eyevine/Redux/eyevine

China's $167 billion mega-dam in Tibet is Xi Jinping's high-stakes bet to revive the economy. The project, which uses 60 times the cement of the Hoover Dam and more steel than 116 Empire State Buildings, also gives Xi another tool of state control.

Big Take Podcast

China's New Mega-Dam Carries Big Risks

Opinion

Elon Musk and his son X. Photographer: Andrew Harnik/Getty Images North America

Someone forgot to tell billionaires about the baby bust. While birth rates across the developed world are dropping precipitously, different rules apply to the richest people on the planet, who seem to equate more children with more status, Lionel Laurent writes. The reason may be that more money means having the number of kids you want.

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Before You Go

Photographer: VCG/Getty Images

The Tesla Diner in LA opened last week, blending retro charm with brand fandom as it serves up nostalgic comfort food. Despite long waits and a menu that could stand to be expanded, hard-core fans our reviewer found much to love—and so will anyone who appreciates a decent tuna melt.

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Bloomberg Power Players New York: Set against the backdrop of the US Open Tennis Championships, we'll bring together influential voices from the business of sports to identify the next wave of disruption that could hit this multitrillion-dollar global industry. Join us on Sept. 4. Learn more.