Thursday Briefing: U.S. House edges toward contempt charges against Steve Bannon

Thursday, October 21, 2021

by Farouq Suleiman

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U.S. House edges toward contempt charges against Steve Bannon, corporate chiefs see prices only going higher and Reuters looks at how close the Amazon rainforest is to its tipping point.

Today's biggest stories

Former White House Chief Strategist Steve Bannon exits the Manhattan Federal Court, New York, U.S. August 20, 2020. REUTERS/Andrew Kelly

U.S.

The House of Representatives is expected to approve contempt-of-Congress charges against Steve Bannon for refusing to cooperate with the probe into the deadly attack on the Capitol. Bannon has refused to comply with committee subpoenas seeking documents and his testimony, citing Trump's insistence - disputed by some legal scholars - that his communications are protected by the legal doctrine of executive privilege.

Accused shooter Nikolas Cruz pleaded guilty to 17 counts of murder and 17 counts of attempted murder in the 2018 mass shooting at Marjory Stoneman Douglas High School in Parkland, Florida.

The U.S. FDA authorized booster doses of the COVID-19 vaccines from Moderna and Johnson & Johnson, and said Americans can choose a different shot from their original inoculation as a booster.

Partial human remains were found in a Florida wilderness area where authorities were searching for Brian Laundrie, the fiance of Gabby Petito, a young woman who vanished on a road trip with Laundrie, the FBI said.

California Department of Fish and Wildlife officials are completing an unprecedented effort to save more than 1 million Chinook salmon, a campaign that also may help preserve a way of life for a Native American tribe.

An aerial view shows deforestation near a forest on the border between Amazonia and Cerrado in Nova Xavantina, Mato Grosso state, Brazil July 28, 2021. REUTERS/Amanda Perobelli

WORLD

Some scientists fear the Amazon — which exerts power over the carbon cycle like no other terrestrial ecosystem — is nearing a point of no return. Reuters tracked three decades-long observations to give a real-world view of degradation.

Indian Prime Minister Narendra Modi will attend the U.N. climate summit in Glasgow, the country's environment minister said, in a boost for global efforts for steeper emission cuts to fight global warming.

NATO defense ministers are set to agree a new master plan to defend against any potential Russian attack on multiple fronts, reaffirming the alliance's core goal of deterring Moscow despite a growing focus on China.

EU leaders will pile pressure on their Polish counterpart over a court ruling that questioned the primacy of European laws in a sharp escalation of ideological battles that risk precipitating a new crisis for the bloc.

Are we safe? British MPs regularly hold one-to-one "surgeries", similar to a patient's consultation with a doctor, at which they meet, listen to and advise members of the public who elected them. But with little or no security and an emphasis on accessibility for all, surgeries can make lawmakers vulnerable.

Police in Western Australia are offering a $748,100 reward for information about the disappearance of a four-year girl missing for five days from an outback campsite and feared to be abducted.

The One World Trade Center and the Financial District in New York are seen from a local park in Weehawken, New Jersey, U.S., March 22, 2020. REUTERS/Eduardo Munoz

BUSINESS

For central bankers wrestling with the question of whether inflationary pressures are transitory, industry chiefs around the world have a clear message: prices are only going higher.

Corporate results in the industrial and materials sectors could offer a snapshot of how companies in a key swath of the U.S. economy are dealing with surging inflation, supply chain bottlenecks and higher commodity prices.

China Evergrande has secured an extension on a defaulted bond, financial provider REDD reported, offering rare respite to the developer a day after a deal to sell a $2.6 billion stake in its property services unit failed.

When the German Bundesbank President Jens Weidmann announced he would retire at year's end, it capped a decade in which economists' thinking about inflation, global interest rates, government debt and fiscal policy veered from core principles of strict inflation control and government austerity.

In the first nine months of 2021, Latino startups from Brazil's online lender Nubank to Colombian delivery firm Rappi raised $14.8 billion in new money, a jump of 174% since last year, data by CBInsights showed. The Latino boom has caught the eye of some of the biggest names in private equity. Now Wall Street's banks are looking to tap into the gold rush by taking more Latino "unicorns" public in the United States.

BREAKINGVIEWS

Agenda-setting insight from the international commentary brand of Reuters.

Read Liam Proud on how Barclays’ strength belies investor indifference, Katrina Hamlin on how Australia goes green-ish and Antony Currie on how Elon Musk’s promises are getting more realistic.

Quote of the day

"These results provide further evidence of the benefits of boosters as we aim to keep people well-protected against this disease."

Albert Bourla

Pfizer CEO

Pfizer and BioNTech report high efficacy of COVID-19 booster shot in study

Video of the day

Trump to launch his own social media platform

Former President Donald Trump will launch his own social media app, TRUTH Social, that he said would "stand up to Big Tech" companies such as Twitter and Facebook that have barred him from their platforms.

And finally…

Rare access captures dances and feasts of Amazonian chief's funeral ritual

The loss of Chief Aritana of the Yawalapiti people to COVID-19 in August has shaken the Xingu, leaving its tribes without a strong leader and able negotiator to unite them against mounting pressures on Brazil’s agricultural frontier, which has advanced across the Cerrado savanna and into the Amazon rainforest.

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