The iPhone X effect

After a display of unity for the unveiling of an ambitious plan to slash individual and corporate taxes, some House Republicans began to pick out the parts of the tax legislation they don’t like. While President Donald Trump and congressional Republicans billed their tax overhaul as a benefit primarily for the middle class, what was delivered is designed more to favor large corporations and some closely held businesses.

Climate change is real, according to a federal report. The White House allowed the release of a sweeping climate report that began under President Barack Obama and concludes that the Earth is warming at an alarming rate due to human activity. That central premise, that humans are to blame, contradicts previous statements of Trump and many high-ranking members of his administration.

Broadcom explores a deal to buy Qualcomm. Broadcom is considering a bid of more than $100 billion, in what would be the biggest-ever takeover of a chipmaker. Qualcomm is in a weakened state, in part due to an escalating legal battle with Apple that’s costing revenue and jeopardizing the business model that for years made it one of the most successful chipmakers in the world.

Who’s backing and who’s slamming bitcoin. Is bitcoin a legitimate asset, or a super-bubble waiting to implode? The rhetoric for and against heated up this week amid the cryptocurrency’s barreling gains, with even the most bullish analysts unable to keep up with the rally. Here’s a look at where some big names in finance stand.

Online retailers are desperate to stem a tide of returns. Online sales are growing at about three times the rate of those from brick-and-mortar stores, in part because of the popularity of free shipping. With that has come an explosion of returns. Almost a third of web orders end up being sent back, versus just nine percent of purchases at physical stores.

America’s drug epidemic is accelerating. Overdose deaths rose by 21 percent last year, according to early federal data—a one-year spike that amounts to a bigger jump than over the previous four years combined. The crisis has been driven by opioid abuse, as potent synthetic drugs such as fentanyl and carfentanil, an elephant tranquilizer, circulate more on the black market.

As consumers grow more and more accustomed to expecting top-tier food delivered promptly to their doorsteps, why not wine, too? Bloomberg wine reporter Elin McCoy tastes the vino selections available.