Family focus | President Joe Biden took the riskiest step of his presidency with a call for higher taxes on the wealthy to fund a massive boost to the U.S. social safety net. He devoted his first address to a joint session of Congress to a call for a "a once-in-a-generation investment in our families," prescribing trillions of dollars in spending. - Republican Senator Tim Scott said Biden's promise to work with Republicans hasn't been matched by actions.
- And read more about how Biden spontaneously tempered his criticism of Wall Street during the speech.
Far-right worry | French President Emmanuel Macron's allies have been talking up the supposed incompetence of far-right leader Marine Le Pen before next year's election, but now they're worried. As Ania Nussbaum reports, while Macron is betting she'll eventually stumble by repeating xenophobic views she voiced in the past, Le Pen has softened her image and gained support. Nuclear leak | Iran's president said the leak of a recording that brought calls for the ouster of his top diplomat was intended to derail nuclear talks with world powers. Foreign Minister Mohammad Javad Zarif is under pressure after a dissident Iranian news channel aired footage in which he complained that unilateral decisions by late General Qassem Soleimani undermined him. Exit ban | An immigration law passed by Hong Kong's government is raising concern among pro-democracy groups that it could be used to prevent dissidents from leaving the city. The bill, which takes effect on Aug. 1, lets Hong Kong's immigration director block an airline passenger or crew member from boarding a departing plane. By 2030, the world's roads will host 145 million low-emission cars, trucks and buses as the plunging costs of batteries and clean power loosen petroleum's hold on transportation, William Mathis reports. Chip drought | The global chip shortage is going from bad to worse with automakers on three continents joining tech giants Apple and Samsung Electronics in flagging production cuts and lost revenue. The shortfall of critically needed semiconductors has forced the entire auto industry to cut output, leaving thin inventories at dealerships just as consumers emerge from Covid-19 lockdowns. What to Watch - Biden signaled he's open to a piecemeal approach to immigration, calling on lawmakers to immediately pass measures where there's bipartisan support while pursuing his sweeping overhaul.
- Northern Ireland First Minister Arlene Foster is stepping down in June in a move that risks fanning instability in a region riven by sectarian strife and concerns about Brexit.
- Brazil is struggling to find vaccines to tackle one of the world's worst Covid-19 outbreaks as a surge in cases and supply shortages among top providers slow the pace of deliveries.
- The French biotech company Valneva has a possible solution for the long-term war against Covid-19 mutations: a shot that uses technology involving an inactivated version of the whole virus it's targeting.
And finally ... The FBI raids on Rudy Giuliani's home and office yesterday are a stunning reversal for the former law-and-order New York City mayor and federal prosecutor who made his name four decades ago by taking on the mob, corrupt politicians and big names on Wall Street. The search warrant executed on Donald Trump's ally suggests charges will soon be brought in an investigation into Giuliani's work in Ukraine, including efforts to dig up dirt on Biden ahead of the 2020 election. Giuliani speaks in Washington on Nov. 19, 2020 about a Trump campaign lawsuit seeking to block certification of Pennsylvania's election results. Photographer: Al Drago/Bloomberg |
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