| Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox. Trump threatens to slam a massive tariff on European cars President Donald Trump on Friday threatened to slam huge tariffs on imported cars from the European Union, a massive new threat in the escalating trade conflict between the allies. Trump had directed the Commerce Deparment to launch an investigation into imported autos in May, similar to the procedure that led to recent tariffs on steel and aluminum imports. While the results of that investigation are still weeks away, Trump raised the specter of tariffs on Twitter. "Based on the Tariffs and Trade Barriers long placed on the US and it great companies and workers by the European Union, if these Tariffs and Barriers are not soon broken down and removed, we will be placing a 20% Tariff on all of their cars coming into the US," Trump tweeted. "Build them here!" Elliott Management has hired a new executive from Citi Paul Singer's Elliott Management has hired Jean-Yves Magnan as deputy chief financial officer, according to people familiar with the matter. Magnan, who was previously chief financial officer of Citi's cards division, started at the $35 billion hedge fund at the end of May. Magnan's hiring shows how Elliott is trying to deepen its bench of C-suite executives as the fund gets larger and more complex. Who should be Intel's next CEO? These are the top candidates people are buzzing about With Brian Krzanich's sudden and surprise departure from Intel's corner office, it's time to play the who-will-take-his place game. Intel has a long tradition of grooming its CEOs from within its internal ranks. That makes a lot of sense given how huge the company is across so many different electronics markets, from PC processors to memory to networking and so on. Intel itself said, quite deliberately, that it will be looking at CEO candidates externally, as well as internally — and for good reason. Most of the top internal candidates are relatively new hires. So if you're going to go with someone who hasn't been there very long, it opens to door to going with fresh blood altogether. Here are the candidates people are buzzing about to replace Krzanich. JPMorgan's summer reading list JPMorgan has released its 19th summer annual reading list. The banking behemoth's summer reading list of 10 nonfiction titles includes books for readers of various interests. Some books focus on, yes, business. But they also touch on ideas applicable to all, such as leadership and group dynamics. Other books are about history, art, travel, and culture. Here's the list. In markets news | 
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