IN THE NEWS TODAY
At least 25 people are dead, including an AFP photographer and a cameraman for a local TV station, after a coordinated
U.S. allies are bracing for a possible trade war as a Tuesday deadline on whether to grant exemptions on steel and aluminum tariffs loom. The European Union indicated over the weekend that it was losing hope of reaching an agreement. (NY Times)
* Commerce Secretary Ross: President Trump's tax plan is working for America
* Cramer: Apple has the most to lose from a trade war (CNBC)
President Donald Trump is hosting Nigerian President Muhammadu Buhari at the White House today with the intention to discuss economic growth and fighting terrorism. The event will mark Trump's first official visit from an African head of state. (CNBC)
Trump over the weekend threatened to shut down the federal government in September if Congress did not provide more funding to build a wall on the U.S.-Mexico border. He made a similar threat in March to push for changes in immigration law. (Reuters)
Hillary Clinton in New York this morning will lead the first meeting of her Onward Together political group. Clinton and Howard Dean will welcome partner organizations for a day of sessions "about harnessing the energy and activism post-election." (Axios)
Ronny Jackson, who was unsuccessfully nominated to lead the Department of Veterans Affairs, will not return to his previous role as Trump's personal physician. The Navy veteran will remain on the staff's medical unit. (Washington Post)
* White House medical unit reportedly operated like 'grab and go' clinic under Jackson (CNBC)
The performance by comedian Michelle Wolf at the White House Correspondent's Dinner continued to be debated on social media this morning, with some high-profile journalists taking issue with Wolf's jokes about Press Secretary Sarah Huckabee Sanders. (CNBC)
A Reuters reporter noticed that a ceremonial oak tree sapling planted by Trump and French President Emmanuel Macron had mysteriously disappeared. Ambassador Gerard Araud later said the tree had been put in quarantine to comply with customs regulations. (CNBC)
South Korean trust in North Korea has surged since last week's summit, with 64.7 percent believing the North will denuclearize and keep the peace, according to a survey. Before the summit, only 14.7 percent of those polled said they did. (Reuters)
CNBC has learned that several of Amazon's (AMZN) top employees went on a bus tour around the country to learn about the aging American population. The company has been interested in developing technologies for aging populations since at least 2014.
Blue Origin successfully launched its New Shepard rocket yesterday from its facility near Van Horn, Texas. Founder Jeff Bezos, who invests $1 billion each year into Blue Origin from the proceeds of selling his Amazon stock, announced the test flight Friday. (CNBC)
STOCKS TO WATCH
DCT Industrial Trust (DCT) will be bought by logistics rival Prologis (PLD) in an all-stock deal valued at $8.4 billion, including the assumption of debt.
Marathon Petroleum (MPC) said it would buy rival Andeavor for more than $23 billion in a cash-and-stock deal that values Andeavor at about $152 per share.
WPP Group (WPP) posted better-than-expected sales in the advertising company's first report after the departure of founder and CEO Martin Sorrell. The company also reiterated its full-year guidance.
Baidu (BIDU) is selling a majority stake in its financial services business for about $1.9 billion. The buyer is a private equity consortium that includes TPG Capital and Carlyle Group (CG).
A judge has temporarily blocked Fujifilm's acquisition of a controlling stake in Xerox (XRX), a ruling that reopens nominations to Xerox's board. This follows a lawsuit by activist investor Darwin Deason, who along with fellow Xerox shareholder Carl Icahn has said the deal substantially undervalues Xerox.
Disney's (DIS) "Avengers: Infinity War" kicked off the summer box office race by hauling in $250 million in domestic receipts and $630 million worldwide,
Animated Fox comedy "The Simpsons" aired its 636th episode on Sunday, becoming the longest-running scripted TV show in history. The previous record holder was CBS Western "Gunsmoke." (Entertainment Weekly)