Tuesday, 16 August 2022

Explosions shake Russian-held Crimea

Tuesday, August 16, 2022

by Linda Noakes

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Here's what you need to know.

Russia says it has 'no need' to use nuclear weapons in Ukraine, Trump's revenge campaign takes aim at Cheney, and Kenya braces for a legal battle after Ruto is declared president-elect

Today's biggest stories

A view shows smoke rising in the village of Mayskoye in the Dzhankoi district, Crimea, August 16, 2022. REUTERS/Stringer

U.S.


Explosions rocked an ammunition depot and disrupted trains in Russian-annexed Crimea, the latest such incident in a region Moscow uses as a supply line for its war in Ukraine. Russia has "no need" to use nuclear weapons in Ukraine, its defense minister said, describing media speculation that Moscow might deploy nuclear or chemical weapons as "absolute lies". Here's what you need to know about the conflict right now.

Kenya braced for a protracted legal battle after William Ruto was declared the victor in a closely fought presidential race over the objections of more than half the electoral commission, stoking fears of political violence.

Taiwan accused China of exaggeration after the Chinese military published footage of the strategically located Penghu islands, where there is a major Taiwanese air base, saying it was not true Chinese forces had come near the islands.

Australia's Prime Minister Anthony Albanese said his predecessor Scott Morrison had "undermined our democracy" by secretly appointing himself minister for home affairs and treasury during the COVID pandemic, in addition to the health, finance and resources portfolios previously revealed.

The two candidates battling to be Britain's next prime minister will vie to present themselves as defenders of Scotland's place in the United Kingdom today by promising more scrutiny of Scotland's government to undermine a new push for independence.

An aerial view of former President Donald Trump's Mar-a-Lago home in Palm Beach, Florida, August 15, 2022. REUTERS/Marco Bello

U.S.

The U.S. Justice Department said it opposes unsealing the affidavit that prosecutors used to obtain a federal judge's approval to search former President Donald Trump's Florida home, where they seized classified documents. "If disclosed, the affidavit would serve as a roadmap to the government's ongoing investigation, providing specific details about its direction and likely course, in a manner that is highly likely to compromise future investigative steps," prosecutors wrote in their filing.

Rudy Giuliani, Trump's personal lawyer who helped lead challenges to the 2020 election results, said that he is a target in a criminal probe in Georgia examining attempts by Trump and his allies to overturn the election.

The long-time financial chief of Trump's namesake real estate company is expected to plead guilty in New York on Thursday in a tax fraud case, a person familiar with the matter said. Allen Weisselberg could be required to testify against the company, which is also charged in the case.

Trump's campaign to oust congressional Republicans who supported his impeachment gets its last major test of the midterm primary season today, when Liz Cheney and Lisa Murkowski face challengers backed by the former president. Here are three key races to watch.

Police believe the son of the prime suspect in the killings of four Muslim men may have played a role in the murders, which have shaken the Muslim community in New Mexico's largest city.

A trader works on the floor of the New York Stock Exchange, August 15, 2022. REUTERS/Brendan McDermid

BUSINESS & MARKETS

The U.S. Federal Reserve is hiking interest rates at the most aggressive pace in a generation, but the financial conditions it needs to tighten to tame soaring inflation have loosened significantly. Stocks will need to fall and bond yields rise to correct the move, strategists warn.

China's Tencent Holdings plans to sell all or a bulk of its $24 billion stake in food delivery firm Meituan to placate domestic regulators and monetise an eight-year-old investment, sources said.

Scion Asset Management fund manager Michael Burry, who rose to fame with timely bets against housing ahead of the 2008 financial crisis, dumped a dozen bullish positions in the last quarter and replaced them with a new stake in prison company Geo Group, according to filings.

Ben & Jerry's legal battle with Unilever sheds light on an issue affecting a growing number of purpose-led brands: how to maintain their identity after being bought by a major consumer company. We take a look at the risks of ceding control.

Dutch health technology company Philips unexpectedly announced the imminent departure of CEO Frans van Houten, in the midst of a massive product recall that has halved its market value over the past year.

It looks like ethereum's mega-upgrade is happening. The 'Merge' seems all but certain to take place in September, with the cryptography underlying the blockchain undergoing a radical shift to a system where the creation of new ether tokens becomes far less energy-intensive.

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Quote of the day

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And finally…

England's Premier League celebrates 30-year rise to global dominance

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The Premier League celebrated its 30th anniversary, marking three decades that has seen English club soccer transformed into the world's leading sports entertainment product.

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