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Biden Takes Polarizing Action on Border

Biden Takes Polarizing Action on Border

Your unbiased daily news brief

James Kratch
June 05, 2024

Good morning and happy Wednesday. After decades of being a relative soft drink afterthought, Dr. Pepper has tied Pepsi as America's second-favorite soda and is on pace to surpass it. Coca-Cola remains No. 1 by a wide margin, though. Have a great day!

In Today’s Brief

AT&T: Outage resolved
Moldova: Interpol plot thwarted
Chicago: Prepping for DNC protests
Bayer: Roundup verdict reduced
Alec Baldwin: New reality show

... and more

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Top Tips

1) Taking action

President Joe Biden is taking measures on the southern border -- and on one of his biggest political weak spots.

The news: Biden signed an executive order barring migrants who cross the U.S.-Mexico border illegally from seeking asylum once a daily 2.5K threshold is reached. The border is effectively shut down once the limit is hit, with migrantsthen turned away -- a major change in border policy. About 3.5K migrants were arrested at the border on Monday.
Why now? Biden previously said he did not have the authority to take unilateral action on the border, but he claimed he had no choice after Congress failed to pass legislation. The president blamed Republican obstructionism and said he would have preferred a bipartisan legislative solution to address the border crisis, which has become a major issue in the presidential election.
The response: Some Democrats offered support, while others said Biden was effectively carrying out policy set by former President Donald Trump. Trump and the GOP panned the action, saying it is not enough and only made for Biden's political purposes with the first presidential debate weeks away. The ACLU has already said it will sue the federal government.

2) Brushed back

India has re-elected Prime Minister Narendra Modi, but only after delivering a stunning rebuke.

The results: Modi's Hindu nationalist Bharatiya Janata Party was unable to win a legislative majority on its own during the country's multi-stage general election, falling over 30 seats short. The BJP also won over 60 fewer seats than it did during the last election in 2019.
What it means: It is a setback for Modi and the BJP, which was bidding to win 400 seats and have a landslide mandate. Modi will need the smaller parties in his National Democratic Alliance coalition to form a government. Opposition parties are also rejuvenated by their surprising success.
Big picture: Modi is popular in India, but many view him as an authoritarian. The government dogged his political foes throughout the election season, with some being arrested; Modi has also been accused of fomenting anti-Muslim hate and extremism. These results could change the calculus in the world's largest democracy.

3) Cooling off period

Nigeria's main labor unions temporarily suspended a strike that brought the African nation to a standstill.

The news: Leaders of the Nigerian Labour Congress and Trade Union Congress paused their indefinite work stoppage for one week. They will continue talks with the government on instituting a new minimum wage. The unions are looking for a 16-fold rise -- close to a 1.6K% jump -- while the government initially offered just a 100% increase.
Point made? The strike more or less shut Nigeria down before it was halted. Protesters blocked the gates to the country's parliament, the national electrical grid went down and air travel was disrupted. Water supplies were also impacted; some banks and hospitals reportedly had to close.
Big picture: Inflation has been near 30% in Nigeria, creating a cost of living crisis. The nation's recently expired minimum wage came out to about $20 a month. The unions want it to rise to about $330 a month, while the government proposed about $42. The unions said they will resume the strike without a deal.

Quick Tips

U.S. News

AT&T said it resolved a "nationwide issue" preventing cellular customers from calling non-AT&T customers. Calls to AT&T customers and emergency services were not impacted; some Verizon customers experienced similar outages (More)
Attorney General Merrick Garland told House Republicans he would not be intimidated by a contempt of Congress threat. Garland reiterated to the House Judiciary Committee that he would not release interview tapes from President Biden's classified documents probe (More)
FDA advisors rejected the use of MDMA to treat post-traumatic stress disorder. They said available evidence fails to show the psychedelic, also known as ecstasy, is effective (More)

World News

Interpol and the FBI thwarted a cyber scheme to gain asylum for wanted criminals. The plot sought to have fugitives under international Red Notices take refuge in Moldova and then delete the notices (More)
The British Army said five military horses injured in a training mishap will all return to duty, with three already back at work. The horses bolted through London in April after being spooked (More)
The United Methodist Church's largest international jurisdiction has seceded due to the end of a ban on LGBTQ clergy. The Ivory Coast jurisdiction in West Africa had over 1M members (More)

Campaign News

Chicago Police Superintendent Larry Snelling said the city is ready to handle protests at August's Democratic National Convention. Cops have received fresh de-escalation training and mass arrest protocols have been revised (More)
New Jersey Rep. Rob Menendez won his Democratic House primary. He saw a challenge from Hoboken Mayor Ravi Bhaila with his father, Sen. Bob Menendez, facing federal corruption charges (More)
House Republicans want a floor vote on a bill allowing current and former presidents to move personal state criminal cases to federal court. The legislation would conceivably give former President Trump a path to elevate his state cases and pardon himself if re-elected (More)

Business & Markets

Major indexes closed higher yesterday. The Dow Jones was up over 100 points on the day (Dow +0.36%, Nasdaq +0.17%, S&P 500 +0.15%).
A Pennsylvania judge cut a $2.25B verdict against Bayer to $400M. A jury ruled exposure to the company's Roundup weedkiller caused a man's cancer when handing down the award; Bayer will continue to appeal the decision (More)
Apollo Global Management will acquire 49% of Intel's manufacturing facility in Ireland. The deal is worth $11B; the location is the tech company's first to mass produce with its Intel 4 process (More)

Entertainment & Sports

Alec Baldwin and his family will be the subject of a new TLC reality show. The actor and his wife, Hilaria Baldwin, have seven children; The Baldwins will debut in 2025 (More)
Manchester City will reportedly sue the Premier League over its financial rules. The four-time reigning champion faces over 100 charges of violating the top-flight English soccer league's protocols (More)
Cillian Murphy is on board for a Peaky Blinders movie. The Academy Award-winning actor will reprise his Thomas Shelby role for the Netflix film (More)

Quick Hitters

Be Safe: Fresh-cut watermelon and other fruits are a staple at summer parties and picnics. Make sure you are taking the necessary precautions to prepare the food.
Go Deep: Small-dollar political donations are drying up, presenting a significant challenge to Democrats and Republicans during this election cycle.
Very Cool: If you have ever wanted to be featured in an art exhibit, get to Edinburgh in the next two weeks. A Scottish gallery is presenting an ever-changing exhibition where you can put your own work on their walls.
True Crime: Meat Loaf sang that he would do anything for love. That meant stealing over $17M and going on the run for this guy.
Life Hack: Prospective memory is the ability to remember to do something in the future. These tips can improve your PM and ensure tasks are accomplished.
OPTIMIZE ME: Researchers “found convincing evidence that higher intake of ultra-processed foods was associated with 50% increased risk of cardiovascular disease-related death, a 48% to 53% higher risk of anxiety and common mental disorders, and a 12% greater risk of type 2 diabetes.”

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