Nov 18, 2018

Asia-Pacific summit marred by U.S.-China tensions

Photo: James D. Morgan/Getty Images for Carnival Australia

For the first time in 29 years, the U.S. and China failed to reach a closing declaration at the Asia-Pacific Economic Cooperation summit, underscoring the severity of tensions between the world's two largest economies, reports AP.

The big picture: During the two-day summit in Papua New Guinea, Vice President Mike Pence — attending in place of President Trump — repeatedly criticized China for its hostile trade practices and warned developing nations of falling into a "debt trap" through China's generous infrastructure loans. Chinese President Xi Jinping, meanwhile, used his speech to condemn protectionism and unilateralism in a slight to the Trump administration. Trump and Xi are expected to meet at the G-20 in Buenos Aires later this month amid their ongoing trade war and the Trump administration's governmentwide effort to paint China as a bogeyman.

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Situational awareness

Photo: Drew Angerer/Getty Images

Catch up on today's biggest news:

  1. Scoop: New White House personnel chief tells Cabinet liaisons to target Never Trumpers
  2. Trump misrepresents 2020 Russia briefing as Democratic "misinformation"
  3. Bernie Sanders takes aim at Bloomberg: "Trump will chew him up and spit him out"
  4. Nearly half of Republicans support pardoning Roger Stone
  5. Scoop: Lyft acquires cartop advertising startup Halo Cars

Sanders takes aim at Bloomberg: "Trump will chew him up and spit him out"

Photo: Mario Tama/Getty Images

Bernie Sanders told CBS "60 Minutes" that he was surprised by Mike Bloomberg's lackluster performance at Wednesday's Democratic debate.

What he's saying: "If that's what happened in a Democratic debate, you know, I think it's quite likely that Trump will chew him up and spit him out."

Scoop: Lyft acquires cartop advertising startup Halo Cars

Photo: Drew Angerer/Getty Images

Lyft has acquired Halo Cars, a small startup that lets ride-hailing drivers earn money via ad displays mounted atop their cars. Lyft confirmed the deal but declined to share any details.

Why it matters: Ride-hailing companies are increasingly eyeing additional ways to generate revenue, and Lyft rival Uber has been quietly testing a partnership with New York-based Cargo that gives it a cut of the advertising revenue, as I previously reported.