Bedugul Coffee: Wednesday Briefing: Biden ready to announce U.S. withdrawal from Afghanistan

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America's longest war ends, JPMorgan's profits surge, and crypto comes in from the cold

President Joe Biden’s planned announcement today of a complete U.S. withdrawal from Afghanistan by September 11 aims to close the book on America’s longest war, as critics warn that peace is anything but assured after two decades of fighting.

“There is no good way that the U.S. can withdraw from Afghanistan. It cannot claim victory, and it cannot wait indefinitely for some cosmetic form of peace,” said Anthony Cordesman at the Center for Strategic and International Studies.

China described its military exercises near Taiwan as "combat drills", upping the ante as senior former U.S. officials arrive in Taipei on a trip to signal Biden's commitment to Taiwan and its democracy. Taiwan has complained over the proximity of repeated Chinese military activity near the island, which is claimed by Beijing.

Iran’s move to enrich uranium up to 60% purity is a response to the sabotage at its key nuclear facility, President Hassan Rouhani said, adding the Islamic Republic had no intention of building a nuclear weapon. Iran’s 2015 nuclear deal with six powers caps the fissile purity to which Tehran can refine uranium at 3.67%.

Biden called on Russian President Vladimir Putin to reduce tensions stirred by a Russian military build-up on Ukraine’s border and proposed a summit of the estranged leaders to tackle a raft of disputes. Ukraine’s armed forces today rehearsed repelling a tank and infantry attack near the border of Russian-annexed Crimea.

↑ Tanks of the Ukrainian Armed Forces are seen during drills near the border of Russian-annexed Crimea, Ukraine, April 14, 2021

U.S.

↑ A U.S. flag carried upside down with the names of people of color killed in police custody and in other incidents is seen before a protest march in Brooklyn Center, Minnesota, U.S., April 13, 2021

A suburban Minneapolis police officer who fatally shot a Black motorist during a scuffle following a routine traffic stop and the police chief who called the slaying an apparent accident both resigned in the face of civil unrest. The chief had told news reporters that the officer who shot Daunte Wright appeared to have drawn her gun by mistake when reaching for her Taser.

A white policeman cleared of criminal wrongdoing after shooting an African-American man in the back last August in Kenosha, Wisconsin, has been returned to duty. The shooting left Jacob Blake paralyzed and became a major flashpoint in nationwide protests for racial justice following the George Floyd killing months earlier in Minneapolis.

Democrats in the U.S. House of Representatives will today try to advance a bill that could lead to reparations for Black Americans as part of a broader effort to address centuries of enslavement followed by modern-day institutional racism.

Nearly a year after Biden called for “real action” on police brutality as part of a pledge to fix racial inequality, he is coming up against the limits of presidential power.

Business

JPMorgan reported a surge in first-quarter earnings, as the largest U.S. bank released more reserves and was aided by a blowout quarter from its trading desks and soaring investment banking fees.

Coinbase Global, the biggest U.S. cryptocurrency exchange, will list on the Nasdaq today, marking a milestone in the journey of virtual currencies from niche technology to mainstream asset. Bitcoin, the biggest cryptocurrency, hit a record of over $63,000 yesterday.

The CEO of Southeast Asia's Grab has always been determined to win - from making his firm the best-funded regional start-up to defeating behemoth Uber. We follow Anthony Tan's journey to the world's biggest SPAC deal.

Between 2009 and 2014, Walmart’s Marketplace business, where outside merchants hawk everything from baby blankets to power tools, counted no more than six sellers, and was described by one expert as “in limbo.” Here's how the pandemic helped Walmart battle Amazon Marketplace for sellers.