Daily Rewind: Merkel gets tough on Trump

The July 4th holiday has come and gone, and the work week marches on. Here’s what you need to know about today’s biggest stories.

  1. Merkel criticizes Trump. The G20 is meeting this week in Hamburg, and German Chancellor Angela Merkel used the lead-up as an opportunity to criticize President Donald Trump and his trade policy. Merkel specifically called out Trump’s insistence that global trade is a zero-sum game as opposed to a community where all nations can win. Trump and Merkel have already had a rocky relationship — including a widely discussed Oval Office meeting earlier this year — and this will only add to the tensions. Read more from CNNMoney’s Ivana Kottasová.
  2. Volvo plans on saying goodbye to gas. Swedish auto-maker Volvo is putting all of its energies into electric cars, announcing Wednesday that it won’t be producing cars powered only by internal-combustion engines as of 2019. Volvo also annouced it would be introducing five fully electric cars between 2019 and 2021. Read more from CNNMoney’s Sherisse Pham.
  3. True Religion files for bankruptcy. The jeans company — famously named by Fergie as one of the brands from which suitors showered her with gifts in the Black Eyed Peas classic “My Humps” — filed for bankruptcy Wendesday. The company is not disappearing yet, instead looking to reimagine itself and deal with debt. Read more from CNNMoney’s Jackie Wattles.
Thirsting for some more stories? Check these out:
Bernie Sanders is the real frontrunner to lead the Democrats in 2020. (Vox)
The heatwave is hurting Texas’s wind energy business. (Bloomberg)
Ivanka Trump is pushing her parental leave policy. (Fortune)

That’s all for today. Have a good one!

Thoughts? Feelings? Glaring typos? We’re here for you. CNNMoneystreamfeedback@turner.com.

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