Bloomberg Evening Briefing Americas |
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Following a weekend in which thousands of “No Kings” protests took place across the US, reportedly attended by an estimated five million people and calling for Donald Trump’s removal from office and an end to his immigration policies, the Republican responded by adding further fuel to the fire, ordering immigration enforcement agencies to pay special attention to cities whose leaders are Democratic. The escalation also came in the aftermath of a highly controversial military parade coinciding with Trump’s 79th birthday that was hampered by bad weather and which the Associated Press reported fell “far short” attendance projections. Litigation over the militarization of Trump’s deportation sweeps will be a feature of the coming week. On Monday, ahead of oral arguments, Trump’s lawyers told a three-judge federal appeals panel that the president must keep control of California’s National Guard in part because local law enforcement “were unable or unwilling to effectively quell the violence” at Los Angeles protests. The argument has been repeatedly rejected by state and local officials as patently false, with government officials noting that protests there have been largely peaceful, that law enforcement didn’t need federal help when they weren’t, and that Trump’s use of soldiers is a “manufactured crisis.” —Natasha Solo-Lyons and David E. Rovella | |
What You Need to Know Today | |
Israel and Iran exchanged fire for the fourth consecutive day on Monday, stoking fear of an all-out war following Prime Minister Benjamin Netanyahu’s ordering of a surprise attack on Iran. Iran fired several waves of drones and missiles over the last 24 hours, while Israel continued hitting Tehran. Iran reports that hundreds of Iranians have been killed in the Israeli attacks. Iranian attacks killed 24 people in Israel, according to the Israeli government. Iran has reportedly signaled a desire to de-escalate. | |
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As world leaders meet for the G-7 in Canada, Trump and Canadian Prime Minister Mark Carney held a face-to-face meeting for the second time since they took power. Carney won election in large part on his promise to push back on Trump’s trade war. Later, the US leader and UK Prime Minister Keir Starmer announced that trade terms had been reached between their two nations. | |
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Another sign that the dollar’s dominance is in trouble has been popping up. US importers are increasingly being asked by their foreign counterparties to settle transactions in currencies other than the US dollar, such as euros, Chinese renminbi, Mexican pesos, and Canadian dollars. The dollar’s volatility, including an 8% decline this year against a basket of other currencies, is driving this trend as foreign vendors seek to limit their exposure to further swings in the greenback. “In markets from East Asia to Latin America, a growing number of exporters are opting to denominate contracts in euro, yuan, or even local currencies,” said Karl Schamotta, chief market strategist at cross-border payments firm Corpay in Toronto. | |
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Samsung plans to develop a hub for users to share health data directly with doctors in between visits, stepping up competition in the technology-driven health care race. During appointments, doctors often share recommendations or fitness suggestions—but it’s not always easy to remember the guidance. In an interview, Samsung health executive Dr. Hon Pak said the company is working on tools to cut down that disconnect, port data collected on watches into a central location and nudge users to stay on top of goals provided by doctors. Health tracking is already a key selling point of smartphones and watches, with Samsung, Apple and Google using the features to attract and retain customers. Creating sensors for continuous blood pressure tracking and glucose monitoring would be particularly valuable breakthroughs. Apple has been working for years on a glucose reader that wouldn’t require users to prick their skin for blood—a potential boon for millions of diabetics. | |
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American Express teased updates coming later this year to its travel-focused Platinum credit cards, announcing what it called its “largest investment ever” in a credit-card refresh. “We’re going to take these cards to a new level, not only in what they offer in travel, dining and lifestyle benefits, but also in how they look and feel,” Howard Grosfield, Amex’s group president for US consumer services, said. Amex raised its Platinum card annual fee to $695 in July 2021, when it also added $200 in annual hotel credits. | |
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What You’ll Need to Know Tomorrow | |
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