FINANCIAL TIMES
-US Federal Reserve chair Jay Powell has signaled his readiness to cut US interest rates in September, warning that "downside risks" to the labor market have increased. Powell said the time has come for policy to adjust, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks. US Treasuries rallied and the dollar fell as investors bet on larger Fed rate cuts this year. The remarks at the Kansas City Fed's annual symposium were the US central bank chair's strongest signal yet that it will soon cut interest rates from their current 23-year high of 5.25-5.5%.
-Robert F Kennedy Jr. has suspended his White House campaign and endorsed Donald Trump, accusing the Democratic party of dismantling democracy and conspiring to keep him out of the race. Kennedy, son of Robert F Kennedy and nephew of John F Kennedy, stated that he is not terminating his campaign but suspending it. Trump emphasized the connection between the two candidates, Trump through his recent assassination attempt and Kennedy through the killings of his father and uncle. If elected, Trump would establish a commission on assassination attempts to release all remaining documents and review the assassination attempt on his own life.
-Dutch skipper Karsten Börner, who anchored near Mike Lynch's superyacht Bayesian off Sicily, believes the vessel capsized due to its extremely high mast. Börner believes the center of gravity is too high with the mast, which is the tallest aluminum boat mast in the world. He rejected the initial assessment by the Italian coastguard that Bayesian was in the wrong spot at the wrong time, stating that both boats had masts 28 and 29 meters above deck.
-Yemen's Houthis has blown up a Greek-owned oil tanker and its crude oil cargo in the Red Sea, posing a significant pollution risk. The Iran-backed group posted videos showing their forces' deliberate blowing up of the tanker, whose crew had been forced to abandon after a series of attacks by the Houthis. The EU's Operation Aspides naval force warned that the drifting vessel and its cargo of 150,000 tonnes of crude oil represented a "navigational and environmental hazard" and urged against any action that would worsen the risk. The group has not previously deliberately blown up an abandoned ship. The UK's Maritime Trade Operations office reported three fires on the ship before the video was posted.
-Israel's government has reportedly escalated into infighting after the defense minister accused a far-right cabinet colleague, Itamar Ben Gvir, of putting the nation's security at risk. The incident follows reports that Shin Bet intelligence agency head Ronen Bar warned about the risk of "bloodshed" from Ben Gvir's actions and the growing phenomenon of "Jewish terrorism". Ben Gvir, a key coalition ally of Prime Minister Benjamin Netanyahu, has increased settlement construction in the occupied West Bank and greater Jewish control over Jerusalem's al Aqsa mosque compound. Defense minister Yoav Gallant accused Ben Gvir of endangering Israel's national security and creating internal division.
-German authorities have launched a large manhunt after an unknown attacker stabbed three people to death at a festival in Solingen. The incident occurred around 9.40pm on Friday, with the man attacking several people with a knife. As of now, three people were killed and eight injured, five of them seriously. A large contingent of officers is searching for the perpetrator and questioning victims and witnesses. Heavy-armed special forces from North Rhine-Westphalia have converged on Solingen, a town about 150,000 north of Cologne. Interior minister Nancy Fraser expressed shock and grief for the victims.
-The US is warning countries trading with Russia that they risk secondary sanctions if they allow Russian banks to set up local branches to finance the supply of goods for Vladimir Putin's war machine. The move aims to close workarounds Russia has used to circumvent sanctions, such as finding obscure means to pay for dual-use goods needed to make arms for its invasion of Ukraine. US deputy Treasury secretary Wally Adeyemo said Washington is prepared to pursue countries that let Russian banks set up branches in their jurisdictions to evade western sanctions, even if the bank itself was not under sanction.
THE NEW YORK TIMES
-The World Health Organization (WHO) has slowed access to Mpox vaccines in Africa, despite the country having requested the shots two years ago and manufacturers claiming they have supplies. The vaccines are trapped in a byzantine drug regulatory process at the WHO, which has not officially approved the vaccines or issued an emergency use license that would speed access. This is necessary for UNICEF and Gavi, the organization that helps facilitate immunizations in developing nations, to buy and distribute mpox vaccines in low-income countries like Congo.
-Ten states have ballot measures to establish a right to abortion in their state constitutions, but pushback has already begun. The strategy has succeeded beyond expectations, enshrining a constitutional right to abortion and restoring access to the procedure in red and purple states. It has also converted a voter mobilization advantage for Republicans into one for Democrats. Now, the strategy faces its biggest test ever, with 10 states asking voters whether to establish a right to abortion in their constitutions. Nebraska became the final state to certify, becoming the only state with two measures, one sponsored by abortion rights supporters and the other by opponents.
-Robert F. Kennedy Jr., who suspended his independent presidential bid, was embraced by former President Donald J. Trump at a rally in Arizona. The union's political impact remains unclear, as it was unclear what the union's impact would have on the 2024 race. Kennedy endorsed Trump in a speech in Phoenix, followed by a rally in Glendale, Arizona, where he spoke in front of the largest audience since he began his third-party run last year. Kennedy was briefly the star of the show, a new attraction for the Trump campaign. However, it was unclear what impact, if any, Kennedy's endorsement of Trump would have on the 2024 race. The union's political impact remains unclear, as it is unclear what the union's political impact would have on the 2024 election.
-Kamala Harris, the Democratic presidential nominee, is shifting from a 33-day sprint to the convention to preparing for a debate and pivoting to getting out the vote. After accepting the nomination, Harris plans to fly back to Washington for a weekend respite before returning to the campaign trail next week. She will begin preparing for her first national interview, which she has said will take place by the end of August, and for the Sept. 10 debate with Donald J. Trump. Campaign officials briefed on her plans who were not authorized to reveal them before they are formally announced.
-The Secret Service has assigned five agents to administrative duties as part of an investigation into the failures that led to the assassination attempt on former President Donald Trump on July 13. The agents have been relieved of their operational duties, such as planning protective details for candidate rallies, and are still being paid. The agents have not been fired and are still being paid. The agency declined to comment on the matter, citing rules against publicly discussing personnel matters. Four agents placed on administrative duties are from the Pittsburgh office, and one is from Trump's personal detail.
-Ukraine's incursion into western Russia has led to discussions about establishing a buffer zone, but the extent of Ukraine's advance and its long-term plans remain unclear. Ukrainian forces have pushed out in different directions after breaking through thinly manned border defenses early this month, setting the contours of a defensible buffer zone to protect Ukrainian towns and villages. After the first week of fighting, Ukraine claimed to control almost 400 square miles of Russian territory, an area roughly the size of Los Angeles. However, American officials are not convinced that Ukraine intends to hold its position in Russia long term. Ukrainian forces have not been digging extensive trenches to protect soldiers and equipment from enemy fire, laying minefields to slow down counterattacks, or constructing barriers to slow down Russian tanks.
-Russia has quashed a deadly prison mutiny by Islamist inmates, marking the latest in a series of terrorist attacks in Russia claimed by Islamic militants. Inmates claiming to be motivated by radical Islam and armed with makeshift knives and an explosive vest briefly took control of Penal Colony No. 19 in the southern Volgograd region. The Russian prison service reported four guards killed and three injured in the attack. Four of the attackers were killed by snipers as the Russian commandos stormed the prison late Friday afternoon, ending the mutiny. It was unclear how many inmates had joined the revolt.
-American-led peace talks at a Swiss resort ended after 10 days with agreements to deliver food and medicine to millions of starving Sudanese in the country's most famine-stricken areas. However, the mediators failed to broker a cease-fire or get both sides around the table, as Sudan's military refused to show up. The breakdown exposed the disarray and internal divisions in Sudan's weakened military, which are a major obstacle to ending Africa's biggest war. The United States hoped the talks in Villars-sur-Ollon could break an eight-month diplomatic deadlock. The military and its foe, the Rapid Support Forces, have not held direct talks since January, leading to a widespread humanitarian crisis and a rare declaration of famine
-Prosecutors in the federal case accusing former President Donald Trump of trying to overturn the 2020 election are unlikely to seek a public courtroom hearing before Election Day, according to two people familiar with the matter. The special counsel pursuing the case, Jack Smith, is leaning against requesting a hearing in the next few months in which he could set out the evidence behind his indictment of Trump. The prospect of a courtroom hearing this fall in which the prosecutors would present their evidence in something resembling a "mini-trial" was one possible result of the Supreme Court's landmark ruling that former presidents enjoy broad immunity for official actions they took in office.
-A knife attack in Solingen, Germany, killed at least three people and injured eight others during a festival celebrating the city's 650th anniversary. The attacker, who escaped, also wounded eight others, five of them severely. The attack took place in a central square in Solingen, about 14 miles east of Düsseldorf, where the city fair was underway. The motive for the attack was unclear, but the police are interviewing witnesses and those who could talk for details that could help catch the attacker. The area quickly emptied of visitors as the police tried to catch the assailant and set up barriers. Videos from the scene showed a strong police presence. The city canceled the rest of the festival after the attack. The motive for the attack remains unclear, but it is the second knife attack in Mannheim in three months.
THE NEW YORK POST
-Former independent presidential candidate Robert F. Kennedy Jr. made his first appearance at a rally for former President Donald Trump, hours after ending his campaign and endorsing the Republican nominee. Trump, 78, described Kennedy as an "incredible champion" for American values and a "highly respected" and "great person." Kennedy discussed issues such as having safe food and ending the chronic disease epidemic, and shared values with Trump, such as keeping the US out of foreign wars, ending censorship, and protecting America's freedoms from totalitarianism. Trump predicted that Kennedy would have a "huge influence" on his campaign and asked supporters to join him in building a coalition. Kennedy bowed out of the 2024 race earlier on Friday and decried the Democratic Party for holding a "sham primary" and installing Vice President Kamala Harris "without an election." Trump announced a commission on assassination attempts as a tribute to JFK, releasing all federal records related to the murder. He also pledged to establish a panel of experts investigating the cause of chronic health problems and childhood diseases. Independent Robert F. Kennedy Jr. called Trump's decision to suspend his campaign and endorse him "agonizing."
-US Central Command has confirmed the killing of senior leader Abu-‘Abd al-Rahman al-Makki, a leader of the terrorist group Hurras al-Din, in Syria. Al-Makki was a council member and senior leader of Hurras al-Din, aligned with Al-Qaeda in Syria. CENTCOM remains committed to the enduring defeat of terrorists who threaten the US, its allies, and regional stability. US military forces will be re-positioned across the Middle East in support of Israel.
-The Justice Department has filed a lawsuit against real estate tech firm RealPage for allegedly allowing landlords to collude to raise rents for tenants nationwide. The lawsuit, filed jointly with eight states, alleges that RealPage helped fix prices that increased monthly rents for millions of tenants. The Justice Department claims that RealPage executives acknowledged their role in dampening competition in the rental housing market.
-Wall Street analysts criticized the federal government for releasing the largest downward revision of jobs data in 15 years, causing chaos across stock and bond markets. The Bureau of Labor Statistics' annual "preliminary benchmark revision" revealed 818,000 fewer jobs created in the 12 months through March, causing higher scrutiny as Wall Street sought signs of a cooling labor market, which could prompt the Federal Reserve to cut interest rates sooner.