Weekend Papers Summary
NEW YORK TIMES
-Justice Dept. Asks Court to Reinstate Access to Mar-a-Lago Documents. The department asked an appeals court to let the FBI immediately regain access to about 100 classified documents, rather than go through the arbiter. Through the filing, the government is following its vow to challenge a ruling by a Trump-appointed judge in Florida, setting up a high-stakes legal fight.
-A lawyer for former President Donald Trump told the National Archives that boxes taken from the White House contained material like newspaper clippings.
-Trump’s team of lawyers marked by infighting and possible legal troubles of its own. Several of the former president’s lawyers are under scrutiny by federal investigators amid squabbling over competence.
-As India joins China in distancing from Russia, Putin warns of escalation.
India’s prime minister told Vladimir Putin that it was no time for war, a day after Mr. Putin acknowledged that China’s leader had “concerns” about the war.
-The ‘Wild Field’ where Putin sowed the weeds of war. In one small town in the Donbas region, everything suddenly fell apart. It was part of Vladimir Putin’s grand plan, and now things are heating up again.
-Migrants flown to Martha’s Vineyard say they were misled. The flights, arranged by Florida’s Republican governor, underscored how easily the fate of immigrants can be swept up in politics.
-US immigration debate rings hollow in Venezuela as migrants flee. More than a fifth of Venezuela’s population has fled the country, and critics said the move by Republican governors to ship migrants to other states would not dissuade others from leaving.
-Stocks slide in one of Wall Street’s worst weeks this year. Pessimism is deepening as bellwether companies like FedEx and General Electric warn of worsening economic and business conditions.
-Yeshiva University halts all student clubs to block LGBTQ group. Earlier in the week, the US Supreme Court allowed a ruling to stand for now that required the university to recognize the group. Yeshiva University had been ordered by a judge to recognize an LGBTQ student group under New York City’s anti-discrimination law.
The California County where MAGA took control. In a state run by Democrats, Shasta County is a rare instance where far-right activists dominate board meetings and exert power.
-Despite a life of preparation, Charles faces growing pains as king. King Charles III has had an enthusiastic public reception so far, but for this man of strong opinions, replacing the beloved queen will be a challenge.
-Fuel hike plunges Haiti into near anarchy. Discontent over economic misery spilled into the largest national protests in years, prompting international calls for action.
-In Iran, woman’s death after arrest by the morality police triggers outrage. Masha Amini was detained for allegedly violating dress rules. Her suspicious death, publicized by social media, has led to protests and condemnations by prominent Iranians.
-A federal court clears the way for a Texas social media law. The law, which had been blocked by a lower court, makes it possible to sue large social media platforms for taking down political viewpoints.
-Privilege is in crisis. Look at our elite private schools. The past few years have witnessed a lot of upheaval in the name of political reckoning. Our columnist asks: Is the pendulum swinging back to tradition?
THE FINANCIAL TIMES
-Indian Prime Minister Narendra Modi has told Russian president Vladimir Putin that now is “not an era of war”, in some of his most pointed public remarks yet about Russia’s invasion of Ukraine. At a meeting between the Indian and Russian leaders in Uzbekistan on Friday, Putin publicly acknowledged New Delhi’s “concerns” about the conflict for the first time — a day after doing the same thing during an encounter with Chinese president Xi Jinping.
-Backed by western weapons and intelligence, Ukraine’s lightning counter-offensive across the Kharkiv region has shifted the momentum of the war, laying bare the vulnerability of Russia’s overstretched invasion forces and shattering the illusion of normalcy at home the Kremlin has worked to sustain.
-Just over a week into the new reign and the British have been getting the hang of singing “God Save the King” for the first time in 70 years. Senior barristers with the title Queen’s Counsel have been instantly transmuted from QC to KC. It is again polite to use the King’s English, and not to breach the King’s peace especially when travelling on the King’s highway. And Her Majesty’s Theatre in London’s West End will follow its own tradition of switching genders, as it did in 1837, 1901 and 1952. Such are the pleasing little quirks that arise from having a constitutional monarchy.
-Wall Street stocks recorded the biggest weekly drop in months after a profit warning from economic bellwether FedEx jolted investors who are already on edge over a looming interest rate rise by the US Federal Reserve at its upcoming meeting.
-PayPal has threatened to scrap its sponsorship of the National Basketball Association’s Phoenix Suns if the team’s owner remains in control of the franchise after he was suspended for using racist and misogynistic language.
Robert Sarver, the team’s owner since 2004, used the N-word on multiple occasions and fostered a culture of bullying and discrimination against female employees at the team, according to report released this week by law firm Wachtell, Lipton, Rosen & Katz.
-Ron DeSantis has broken the fundraising record for a US governor’s campaign, in a sign that the Florida Republican is tapping a powerful donor network as he eyes a potential run for the White House in 2024.
According to financial disclosures filed on Friday, he has raised $175.8M for his campaign committee and his affiliated political action committee Friends of Ron DeSantis during the 2022 cycle.
-Formula 1 teams have warned of rising labor costs as energy prices and inflation pile pressure on a sport that depends on developing cars at high-tech factories and sending parts and drivers around the world to race.
-Baker McKenzie said it was working to ensure a “co-operative and swift separation” from its partner in the United Arab Emirates after controversy over social media posts in which he described homosexuality as “ugly”. The US law firm said on Friday that Habib Al Mulla would set up a firm independent from Baker McKenzie once the separation had been completed by early next year.
-Gold prices dipped to their lowest in more than two years on Friday, as expectations of a significant US interest rate rise next week, along with a strong US dollar, weighed on prices.
NY POST
-Mayor Eric Adams agreed to “welcome” migrants sent to the Big Apple by El Paso, his Democratic counterpart in that town revealed — despite harshly denouncing Republican Gov. Greg Abbott over a similar relocation program. The deal — which sees the city embrace as many as 200 new arrivals a day — also came as Adams repeatedly blamed the ongoing influx of migrants for overwhelming the city’s shelter system, which he said Wednesday was “nearing its breaking point.”
-FedEx’s shares tracked their worst day on Friday after the delivery heavyweight pulled its forecast, feeding into fears of a global demand slowdown while piling more pressure on its new chief executive for a quick turnaround. The preliminary results sent the stock tumbling 21% to $161.02, with the company shedding about $12.5B in market capitalization.
The gloomy outlook comes amid investor anxiety that the Federal Reserve’s rapid pace of interest rate hikes to tame soaring inflation threatens to tip the economy into a recession.