Top Stories Today – July 29, 2019
Top Stories Today – July 29, 2019
US Spy Chief Dan Coats to Resign
US President Donald Trump has announced his national intelligence chief, Dan Coats, is resigning after two years on the job and frequent policy clashes with the White House. Coats tendered his resignation in a letter to Trump dated Sunday.
Trump tweeted Sunday that Coats will step down August 15. He thanked Coats for “his great service to our country.” He said he will nominate Texas Republican Congressman and Trump loyalist John Ratcliffe as his replacement. Trump described Ratcliffe as a “highly respected” former US attorney who will “lead and inspire greatness for the country he loves.” The Voice of America
Shares steady as Fed comes into focus
Global shares steadied on Monday and the dollar hit a two-month high against a basket of currencies as markets counted down to a likely cut in US interest rates this week, with much riding on whether the Federal Reserve signals more cuts will follow. After opening lower, European shares began to gain. Deal-making and a rally in defensive sectors pushed the pan-European STOXX 600 index up 0.3% [.EU].
The dollar index – which measures it against a basket of peers – was higher by 0.1% and at its highest since May 31. A stronger-than-expected US gross domestic product report on Friday gave the dollar wings, leading some investors to doubt whether the Fed will continue easing this year after its Wednesday meeting. Reuters
Death toll in attack at Afghan political office rises to 20
The death toll from an attack against the Kabul office of the Afghan president’s running mate and former chief of the intelligence service climbed to at least 20 people on Monday, an official said. Around 50 other people were wounded in Sunday’s attack against the Green Trend party headquarters, which lasted hours and included a gunbattle between security forces and the attackers, who were holed up inside the building, according to Interior Ministry spokesman Nasrat Rahimi.
Several gunmen were killed by the security forces, Rahimi said. The attackers’ potential target, vice presidential candidate and former intelligence chief Amrullah Saleh, was “evacuated from the building and moved to a safe location,” Rahimi said. Some 85 other civilians were also rescued from inside. The Associated Press
Shooting at California festival kills 3
A gunman cut through a fence to avoid security and opened fire at Northern California’s popular Gilroy Garlic Festival, killing three and wounding at least 15 before police fatally shot him as terrified people and performers ran for cover.
Gilroy Police Chief Scot Smithee said the gunman was armed with a rifle and sneaked in through a fence that borders a parking lot next to a creek. He appeared to randomly target people when he opened fire just after 5:30 p.m. Sunday, the conclusion of the three-day festival that attracts more than 100,000 people to the city known as the “Garlic Capital of the World.” Police responded within a minute, engaged the suspect and killed him, Smithee said. Some witnesses reported a second suspect, Smithee said, but it was unclear whether that person was armed or simply provided assistance. A manhunt continued late into the night. The Associated Press
China condemns horrendous Hong Kong protests
China has condemned the recent anti-government protests in Hong Kong as “horrendous incidents” that have caused “serious damage to the rule of law”. A spokeswoman for China’s top policy office on Hong Kong insisted that the territory’s “top priority” was to “restore social order”.
The comments marked a rare intervention by the Hong Kong and Macau Affairs Office [HKMAO]. The city has seen eight consecutive weekends of anti-government protests. There were violent clashes on Sunday as police fired tear gas and rubber bullets at protesters. Barricades were also erected at several different locations in the city. BBC
US China move trade talks to Shanghai
US and Chinese trade negotiators shift to Shanghai this week for their first in-person talks since a G20 truce last month, a change of scenery for two sides struggling to resolve deep differences on how to end a year-long trade war. Expectations for progress during the two-day Shanghai meeting are low, so officials and businesses are hoping Washington and Beijing can at least detail commitments for “goodwill” gestures and clear the path for future negotiations.
These include Chinese purchases of US farm commodities and the United States allowing firms to resume some sales to China’s tech giant Huawei Technologies. President Donald Trump said on Friday that he thinks China may not want to sign a trade deal until after the 2020 election in the hope that they could then negotiate more favorable terms with a different US president. The Voice of America
Kamala Harris announces Medicare-for-all proposal
Ahead of the second round of Democratic debates, Sen. Kamala Harris (D-Calif.) on Monday announced her health care proposal. Harris says that under her plan, all Americans would be able to buy into Medicare immediately. A “new and improved” Medicare system would then be expanded to everyone over the course of a decade.
Harris’ plan would not eliminate private insurers, however. They would instead be able to offer their own Medicare plans, so long as they adhere to certain standards. “If they want to play by our rules, they can be in the system,” Harris said. “If not, they have to get out.” Harris says she would raise taxes to pay for this plan, but not on households making below $100,000. Kamala Harris, CNN via The Week
Lion King continues its box office domination
The Lion King continued its reign at the box office over the weekend, bringing in $75.5 million. The film has earned $350.8 million in North American theaters since opening 10 days ago, and $962.7 million worldwide.
So far this year, Disney films have collected $7.67 billion at the global box office. Quentin Tarantino’s Once Upon a Time in Hollywood finished in the No. 2 spot with $40.4 million, the director’s best opening ever. Spider-Man: Far From Home, came in third place with $12.2 million, followed by Toy Story 4 with $9.9 million and Crawl with $4.4 million. Last week, Spider-Man: Far From Home reached the $1 billion mark in global ticket sales. Entertainment Weekly via The Week