Just in: Warner Bros. Discovery said it plans to split itself into two publicly listed companies — one focusing on its streaming and studios business, the other on its cable channels — as it seeks to lift its embattled stock valuation.

We’re taking a look at the latest in the Musk-Trump saga, the inflamed tensions in Los Angeles and the trade negotiations with China taking place in London today. And we remember Dick Beattie, a prominent Wall Street lawyer behind many of the biggest deals of the last half-century.

The cold war continues

There’s still no sign of a reconciliation between President Trump and Elon Musk.

That will continue to have potentially big consequences for Musk’s vast business empire — and for his rivals — as the world’s richest man remains on the outs with the administration.