Thursday Briefing: Trump company's CFO surrenders ahead of expected unveiling of criminal tax charges

Thursday, July 1, 2021

by Linda Noakes

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Here's what you need to know.

Voting rights are in the spotlight at the U.S. Supreme Court, soccer crowds are driving a rise in Europe's COVID infections, and a 'head bashing' warning from China's Xi

Today's biggest stories

FILE PHOTO: Trump Organization chief financial officer Allen Weisselberg looks on as Donald Trump speaks during a news conference at Trump Tower in Manhattan, May 31, 2016

U.S.

The chief financial officer of the Trump Organization surrendered to authorities as he and former U.S. President Donald Trump's namesake company prepare to face criminal charges. Allen Weisselberg, the CFO, entered a building housing Manhattan's criminal court, where he and a Trump Organization representative are expected to appear later in the day.

As it races to complete its current term, the Supreme Court is poised to rule on the legality of two Republican-backed voting restrictions in Arizona while observers await word on whether the oldest of the nine justices, Stephen Breyer, will announce plans to retire or remain on the bench.

New vote tallies in New York City's Democratic mayoral race showed Brooklyn Borough President Eric Adams' lead narrowing considerably over his nearest rivals, after election officials threw the contest into confusion by posting, and then removing, erroneous vote totals.

Donald Rumsfeld, a forceful U.S. defense secretary who was the main architect of the Iraq war until President George W. Bush replaced him as the United States found itself bogged down after 3-1/2 years of fighting, has died at age 88.

Bill Cosby was freed from prison and returned home after Pennsylvania's highest court overturned his sexual assault conviction, saying he never should have faced charges after striking a non-prosecution deal with a previous district attorney more than 15 years ago.

A woman takes a selfie in front of a screen showing Chinese President Xi Jinping speaking during a celebration marking the 100th founding anniversary of the Communist Party of China, in Beijing, July 1, 2021. REUTERS/Thomas Peter

WORLD

China's President Xi Jinping warned that foreign forces attempting to bully the nation will "get their heads bashed", and hailed a "new world" created by its people as the ruling Communist Party marked the centenary of its founding.

What may be the most significant reshuffle of top North Korean officials in years by leader Kim Jong Un serves as a warning to the ruling elite, analysts say, including those he accused this week of causing a "great crisis" with coronavirus lapses.

Crowds at Euro 2020 football stadiums and in pubs and bars in host cities are driving the current rise in coronavirus infections in Europe, the World Health Organisation said. A 10-week decline in new infections across the region has come to an end and a new wave is inevitable if soccer fans and others drop their guard, it warned.

Multiple cities scrapped Canada Day celebrations after the discovery of hundreds of remains of children at former indigenous schools sparked a reckoning with the country's colonial past.

BUSINESS

Global mergers and acquisitions activity broke records for a second consecutive quarter this year as companies continued to borrow cheaply and spend their cash reserves on transformative deals to reposition themselves for the post-COVID world.

Doughnut chain Krispy Kreme priced its initial public offering well below the planned range to raise $500 million, indicating a lukewarm reception from investors during one of the busiest weeks for stock market debuts in the United States.

European factories continued to ramp up their post-lockdown recovery in June but Asian manufacturers saw momentum weaken amid rising input costs and the reintroduction of curbs to combat a new wave of coronavirus infections.

Nissan is betting on Britain to supercharge its European electric future, pledging $1.4 billion with its Chinese partner to build a giant battery plant that will power 100,000 vehicles a year including a new crossover model.

Quote of the day

“We’ve been seeing more and more of this type of extreme weather event in the past years. So realistically, we know that this heatwave won’t be the last”

Justin Trudeau

Canadian prime minister

Deaths surge in U.S. and Canada from worst heatwave on record

Video of the day

Afghan civilians prepare to fight the Taliban

Hundreds of former 'mujahideen' fighters and civilians have felt compelled to take up arms to help the army repel a growing Taliban insurgency.

And finally…

With 3D printed 'steaks', startup eyes the mass market

Barcelona-based Novameat's aim is to recreate the muscle fibres of animal meat but using 100% plant-based ingredients.

More from Reuters

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