Monday Briefing: U.S. Senate braces for 'hell of a fight' over Biden's infrastructure plan

Monday, July 12, 2021

by Linda Noakes

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Here's what you need to know.

Cuba sees its biggest protests for decades, South Africa calls in the army to quell violence, and big banks brace for a British court ruling

Today's biggest stories

People gather on the lawn of the U.S. Capitol after security fencing was removed, July 11, 2021. REUTERS/Joshua Roberts

U.S.

The U.S. Senate returns to one of its most ambitious agendas in years as President Joe Biden seeks trillions of dollars in infrastructure spending and Republicans promise "a hell of a fight" against raising taxes to pay for it.

Biden will meet with local law enforcement leaders, elected officials and an expert on community violence intervention at the White House as he seeks to bolster support for his plans to crack down on gun violence.

More than six months after the deadly attack on the Capitol by supporters of then-President Donald Trump, the remaining high-security fence surrounding the building has been removed.

A brutal heat wave punishing the U.S. West pushed temperatures toward all-time records again, with Death Valley in California, scorching at 130-degrees Fahrenheit, one of the hottest spots on the planet.

The heat wave and ongoing drought in the Pacific Northwest is damaging white wheat coveted by Asian buyers and forcing fruit farm workers to harvest in the middle of the night to salvage crops.

People shout anti-government slogans during a protest in Havana, Cuba July 11, 2021. REUTERS/Alexandre Meneghini

WORLD

Chanting "freedom" and calling for President Miguel Diaz-Canel to step down, thousands of Cubans joined street protests from Havana to Santiago in the biggest anti-government demonstrations on the Communist-run island in decades.

South Africa will deploy soldiers to quell violence that erupted in the wake of former president Jacob Zuma's jailing, the military said, after days of riots and looting left at least six people dead.

China's military said it "drove away" a U.S. warship that illegally entered Chinese waters near the Paracel Islands, on the anniversary of an international court ruling that held Beijing had no claim over the South China Sea.

Haitian police said they had arrested one of the suspected masterminds in the assassination of President Jovenel Moise, a Haitian man whom authorities accused of hiring mercenaries to oust and replace Moise.

BUSINESS

A specialist London court will decide whether a long-awaited multi-billion pound class action against some of the world's biggest banks over alleged foreign exchange rigging can proceed, after a five-day hearing kicked off.

Dealmakers expect a new wave of transformative U.S. mergers and acquisitions, as companies rush to complete deals before Biden's antitrust push takes shape, to be followed by a slowdown when regulators start cracking down.

Walmart-owned Flipkart will double its valuation in less than three years to $37.6 billion after the latest funding that included SoftBank, as the Indian online retailer gears up to go public later this year.

JPMorgan and Goldman Sachs are taking on a consumer finance market many outsiders have tried and failed to crack: Britain. The two are testing the UK market to see if their U.S. retail brands, Chase and Marcus, can be rolled out globally.

Quote of the day

"I was once a child with a dream looking up to the stars. Now I'm an adult in a spaceship looking down to our beautiful Earth"

Richard Branson

Billionaire Branson soars to space aboard Virgin Galactic flight

Video of the day

Extreme heat boils Canada's waters and shellfish

An estimated 1 billion marine animals, including mussels, clams, and sea stars, died after a record-breaking heatwave sizzled along Canada's Pacific coast in late June, highlighting its effects on an ecosystem not used to extreme weather events.

And finally…

Italy hopes soccer glory will help heal national wounds

After 18 months of pandemic hell, Italy revelled in some soccer heaven after its national team brought back the Euro cup for the first time since 1968 following victory over England in London.

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