REUTERS WORLD NEWS: Japan’s Farewell to Shinzo Abe, Euro Near Parity with Dollar, Subway Can Be Sued Over Its Tuna, More

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Reuters
The Reuters Daily Briefing

Tuesday, July 12, 2022

by Linda Noakes

Hello

Here’s what you need to know.

Japan bids a somber farewell to Shinzo Abe, the euro is on the brink of breaching parity with the dollar, and Subway can be sued over its tuna

Today’s biggest stories

Ukrainian servicemen stand in front of an apartment building in Kharkiv, July 11, 2022. REUTERS/Nacho Doce

WORLD

Manuel Oliver, whose son Joaquin was killed in the 2018 mass shooting at Marjory Stoneman Douglas High School in Parkland, Florida, interrupts President Joe Biden during a White House event, July 11, 2022. REUTERS/Kevin Lamarque

U.S.

  • A man whose son was killed in the 2018 school shooting in Parkland, Florida, interrupted President Joe Biden’s remarks at the White House during an event to herald the passage of the first major federal gun safety law in three decades. Manuel Oliver, shouted “we’ve already gone through this for years and years”.
  • Congressional investigators into the attack on the U.S. Capitol will today seek to draw connections between then-President Donald Trump’s associates and right-wing militants who stormed the seat of government.
  • The Biden administration said healthcare providers must offer abortion services if the life of a mother is at risk and that procedures conducted under such circumstances would be protected under federal law regardless of various state bans. Meanwhile, a state court judge in Utah blocked a sweeping new abortion ban from taking effect and a judge blocked an Arizona law recognizing ‘personhood’ at fertilization.
  • First lady Jill Biden’s attempt to compliment Latinos flopped when she said they were as unique as “breakfast tacos,” prompting criticism from across the political spectrum.
  • About four days after a wildfire started in Yosemite National Park, firefighters in California have begun to contain the blaze, which has threatened some of the oldest giant sequoia trees in the world.

The logo and trading symbol for Twitter are displayed on a screen on the floor of the New York Stock Exchange, July 11, 2022. REUTERS/Brendan McDermid

BUSINESS & MARKETS

  • The euro sank to within a whisker of parity with the dollar and stock markets fell as the prospect of further central bank tightening and worries about the health of economies worldwide unnerved investors.
  • The global price of oil could surge by 40% to around $140 per barrel if a proposed price cap on Russian oil is not adopted, along with sanction exemptions that would allow shipments below that price, a senior U.S. Treasury official said.
  • The shrimps of the crypto world have joined the whales in a glorious last stand to banish the bleak bitcoin winter. These two contrasting groups are both HODLers – investors in bitcoin as a long-term proposition who refuse to sell their holdings – and they are determined to drive back the bears, despite their portfolios being deep in the red.
  • Twitter fired back at Elon Musk, accusing the world’s richest person of “knowingly” breaching an agreement to buy the social media firm. Here’s why Musk’s attempt to scrap his purchase of Twitter may leave him in a stronger financial position than before.
  • France’s Renault said car sales plunged 30% in the first half of 2022 after it shut down activities in Russia, one of the first Western auto manufacturers to lay bare the damage of losing a key market in the wake of the Ukraine war.
  • A U.S. federal judge said Subway can be sued for allegedly deceiving customers about its tuna products, including a claim it uses other fish species, chicken, pork and cattle instead of the advertised “100% tuna”.
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