EU leaders criticized for tepid support take 'message of unity' to Ukraine

Thursday, June 16, 2022

by Linda Noakes

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Here's what you need to know.

European leaders visit Ukraine's Irpin in a show of support, North Korea faces an infectious disease outbreak, and cosmetics company Revlon files for bankruptcy protection

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France's President Emmanuel Macron, Italian Prime Minister Mario Draghi and Romanian President Klaus Iohannis visit Irpin, Ukraine, June 16, 2022

RUSSIA-UKRAINE WAR

The leaders of Germany, France and Italy - all criticized in the past by Kyiv for support viewed as too cautious - made a joint visit to Ukraine, touring a town devastated by Russia's invasion.

"It's an important moment. It's a message of unity we're sending to the Ukrainians," French President Emmanuel Macron said after pulling into Kyiv on an overnight train along with Germany's Olaf Scholz and Italy's Mario Draghi. They were also joined by Romanian President Klaus Iohannis.

President Joe Biden announced a fresh U.S. infusion of $1 billion in weapons for Ukraine that includes anti-ship rocket systems, artillery rockets, howitzers and ammunition.

Two U.S. citizens who traveled to Ukraine as volunteer fighters against Russian forces have been missing for a week and are feared captured, family members said.

Russian gas supply to Europe fell further, sparking concerns about refilling storage for winter and igniting a diplomatic tussle as Russian supplier Gazprom blamed Western sanctions for hampering maintenance work.

Here's what you need to know about the Russia-Ukraine conflict right now

A screen displays the Fed rate announcement as a trader works on the floor of the New York Stock Exchange, June 15, 2022

BUSINESS & MARKETS

World stocks fell and the dollar regained its footing on concerns over the impact of surging inflation and an aggressive policy tightening outlook from global central banks.

The Swiss National Bank raised its policy interest rate for the first time in 15 years with a surprise 50 basis point hike that soured the mood and sent the safe-haven franc up sharply.

The Federal Reserve approved its largest interest rate increase in more than a quarter of a century to stem a surge in inflation that U.S. central bank officials acknowledged may be eroding public trust in their power, and being driven by events seen increasingly out of their hands.

Japan's government bond market is being pushed to breaking point in a contest between foreign speculators and the Bank of Japan, creating challenges for loan pricing and bond sales and raising the prospect of government financing tangles down the track.

Revlon filed for Chapter 11 bankruptcy protection after struggling to compete with online-focused upstart brands in recent years. We look back at the cosmetics company’s road to bankruptcy.

Russia, supported by Belarus, Central African Republic, Kyrgyzstan and Mali, has torpedoed a Western-backed proposal to discuss whether its diamonds are funding war ahead of an international conflict diamond meeting in Botswana, letters seen by Reuters show.

North Korean leader Kim Jong Un sends home-prepared medicines to the Haeju City Committee of the Workers' Party of Korea in this photo released by the country's Korean Central News Agency on June 16, 2022


WORLD


North Korea reported an outbreak of an unidentified intestinal epidemic in a farming region, putting further strain on the isolated country as it battles chronic food shortages and a wave of COVID-19 infections.

Taiwan's military showed off its latest domestically produced armored vehicle, the CM-34 Clouded Leopard, at a remote manufacturing site in the mountains of the central part of the island.

Crowds in India set a train coach on fire and blocked railway tracks and roads in protests against a new military recruitment system, police said. Prime Minister Narendra Modi's government this week announced an overhaul of recruitment for India's armed forces, looking to bring down the average age of personnel and reduce pension expenditure.

Sydney residents were urged to conserve power in the evening as much as possible to avert blackouts, one day after Australia suspended its spot electricity market due to unscheduled outages at aging coal-fired utilities.

Police have found human remains in their search for British journalist Dom Phillips and Brazilian indigenous expert Bruno Pereira after a suspect confessed to killing them in the Amazon rainforest, investigators said.


U.S.


The congressional committee investigating last year's deadly assault on the U.S. Capitol turns its attention today to then-President Donald Trump's multiple attempts to pressure former Vice President Mike Pence to overturn his 2020 election defeat.

A Delaware man who flew the Confederate flag inside the Capitol on January 6, 2021 was found guilty along with his son of the felony charge of obstruction during the storming of the building, the Justice Department said.

Senate negotiators, racing to settle details of bipartisan gun legislation, struggled to resolve serious disagreements over federal funding of state "red flag" programs and the breadth of a plan for keeping guns out of the hands of those prone to domestic violence.

The Justice Department filed federal hate crime charges against a white supremacist accused of killing 10 Black people in Buffalo, New York, last month, saying he was driven by a desire to "prevent Black people from replacing white people".

John Hinckley, who wounded then President Ronald Reagan and three others in a 1981 assassination attempt, was released without conditions in compliance with a federal judge's order. He received full-time conditional release in 2016 after 30 years in a psychiatric hospital.

REFUGEE CRISIS

Please join us for a Reuters Newsmaker featuring Gillian Triggs, Assistant Secretary-General and Assistant High Commissioner for Protection with UNHCR, on Friday, June 17.

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Quote of the day

"We have gone backwards rather than forwards. If there is a bank failure, it will be the same as 2008."

Karel Lannoo of the Centre for European Policy Studies

Market meltdown lays bare Europe's divisions

Video of the day

Migrants saved after dramatic rescue at sea

Seventeen people were rescued in the Mediterranean after they jumped from a migrant boat to avoid being captured by the Libyan coast guard.

And finally…

Ancient DNA solves mystery over origin of Black Death

DNA from bubonic plague victims buried in cemeteries on the old Silk Road trade route in Central Asia has helped solve an enduring mystery, pinpointing an area in northern Kyrgyzstan as the launching point for the Black Death that killed tens of millions of people in the mid-14th century.

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