Friday, 8 July 2022

Japan's ex-PM Abe gunned down while making election campaign speech

Friday, July 8, 2022

by Linda Noakes

Hello

Here's what you need to know.

Japan is stunned by the killing of former PM Abe, Biden moves to safeguard access to abortion, and why India has ramped up Russian oil imports

Today's biggest stories

People read a special edition of the Yomiuri Shimbun newspaper reporting the death of Japan's former Prime Minister Shinzo Abe, in Tokyo, July 8, 2022. REUTERS/Kim Kyung-Hoon

WORLD


Former Prime Minister Shinzo Abe, Japan's longest-serving leader, died hours after he was shot while campaigning for a parliamentary election, shocking a country in which political violence is rare and guns are tightly controlled. Abe sought to reinvigorate Japan with bold economic policies and strong armed forces.

Western officials tried to coax Russia into allowing Ukraine to ship its grain out to the world as the four-month-old war threatened to bring hunger to countries far away from the battlefields. Here's what you need to know about the conflict right now.

Chinese fighter jets crossed the median line of the sensitive Taiwan Strait in what the island's government slammed as a provocation, as a senior U.S. senator visited Taipei for a meeting with President Tsai Ing-wen that China condemned.

As many as a dozen candidates were eyeing up replacing Boris Johnson as British prime minister who is quitting after his Conservative Party turned on him, as opponents said they wanted him out of Downing Street immediately. Johnson and his wife, Carrie, are changing the location of a planned wedding party at his official residence, an ally of the prime minister said, denying allegations that he was staying on in a caretaker role because of it.

Clear skies in Sydney brought relief to Australia's largest city after nearly a week of downpours, with thousands of residents returning home to take stock of flood damage while authorities ramped up relief efforts.

Abortion rights activists march past United States Supreme Court to protest the court's ruling to overturn the landmark Roe v Wade abortion decision, in Washington, June 30, 2022. REUTERS/Evelyn Hockstein

U.S.

U.S. President Joe Biden will sign an executive order today to help safeguard women's access to abortion and contraception after the Supreme Court last month overturned the Roe v Wade decision that legalized abortion, the White House said.

An 8-year-old boy suffered a severed spinal cord from a gunshot wound to his chest in the July Fourth attack on a Chicago-area parade that left seven dead, a family spokesman said, with his twin brother and mother also wounded. We look at how Illinois' gun laws did not stop the Highland Park shooter from buying weapons.

Former Minneapolis police officer Derek Chauvin, convicted last year of murdering George Floyd, was sentenced to 21 years in prison on separate federal charges of violating Floyd's civil rights during the deadly May 2020 arrest, with the judge calling the ex-cop's actions unconscionable.

U.S. basketball star Brittney Griner pleaded guilty to a drugs charge in a Russian court but denied she had intentionally broken the law. Griner was speaking at the second hearing of her trial on a narcotics charge that carries a sentence of up to 10 years in prison.

Ghislaine Maxwell formally appealed her conviction and 20-year prison sentence for helping the late financier Jeffrey Epstein sexually abuse underage girls over more than a decade.

BUSINESS & MARKETS

Two of the Federal Reserve's most vocal hawks said they would support another 75 basis-point interest rate increase later this month but a downshift to a slower pace afterward, even as both downplayed the risk of higher borrowing costs pushing the U.S into recession. Here are five things to watch in today's U.S. jobs report.

The upcoming corporate earnings season could prompt another sharp fall in global share prices with profit forecasts looking far too upbeat given mounting recession risks, investors and analysts warn. After shedding more than $20 trillion in value since hitting record highs in January, world stocks are stuck in a bear market as major central banks struggle to stem surging inflation without derailing fledgling growth.

Since the start of the war in Ukraine, the United States and its allies have leaned on countries to buy less Russian oil in a bid to punish Moscow for its aggression. Indian refiners have done the opposite, snapping up more Russian crude while the government explores ways to protect domestic oil firms from punishment should they fall foul of sanctions.

Long one of the globe's economic stars, Germany is on the brink of a reversal of fortune which some fear imperils the prosperity built by its post-war generation. While on the surface, the German economic engine is purring, a recent reversal in exports and steep stock price falls betray deep-seated problems in the continent's most populous and industrious country.

A former investment manager at Celsius Network sued the crypto lender, saying it used customer deposits to rig the price of its own crypto token and failed to properly hedge risk, causing it to freeze customer assets.

Quote of the day

"The UK economic situation is pretty frightening. I think we're set to have the worst performance out of the G7, perhaps even the G20"

Mark Peden

Investment manager at Aegon Asset Management

Political woes and economic funk mean few takers for British assets

Video of the day

The making of Mecca's holy Kaaba cover

With great precision, a team of skilled workers embroiders Islam's most expensive cloth.

And finally…

Argentine 'gargoyle' shows how huge predatory dinosaurs evolved

Fossils of a ferocious creature with a huge head covered in bumps and crests reminiscent of a gargoyle are providing insight into the evolution of some of Earth's biggest predatory dinosaurs - including a curious trend toward puny arms.

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