Trump Tax Bill heads to US House

Plus, the Dalai Lama says he will be reincarnated.

Global news you can trust. Download the Reuters App. Daily Briefing Daily Briefing By Anisha De Hello. Donald Trump's tax-cut and spending bill returns to the US House of Representatives, as party leaders try to overcome internal divisions. Elsewhere, Trump's ceasefire statement raises hopes in Gaza and the Dalai Lama says he will reincarnate. Plus, our graphics team examines how concrete, asphalt and urban heat islands add to the misery of heat waves.  Today's Top News   US Senate Republicans speak to the press on Capitol Hill in Washington, D.C., July 1, 2025. REUTERS/Annabelle Gordon United States The debate within President Trump's Republican Party over a massive tax-cut and spending bill returns to the House of Representatives amid a self-imposed July 4 deadline. The bill has already been passed by the US Senate by the narrowest possible margin. CBS parent company Paramount settled a lawsuit filed by Trump over an interview broadcast in October, the latest concession by a media company to a president who has targeted outlets over what he describes as false or misleading coverage. Trump toured a remote migrant detention center in the Florida Everglades dubbed "Alligator Alcatraz." The complex in southern Florida at the Miami-Dade Collier Training and Transition Airport is estimated to cost $450 million annually and could house some 5,000 people, officials estimate. The jury in Sean "Diddy" Combs' trial will continue deliberations, a day after reaching a verdict on four of the five counts the music mogul faces in his sex trafficking case but failing to agree on a racketeering conspiracy charge. In other news Word from President Donald Trump that Israel has agreed to the conditions needed to finalise a 60-day ceasefire in Gaza raised hopes in the enclave, where health officials said at least 20 people had been killed in Israeli attacks. Iranian President Masoud Pezeshkian put into effect a law passed by parliament last week to suspend cooperation with the U.N. nuclear watchdog, the IAEA, Iranian state media reported. Trump's move to pause foreign aid to Ukraine, coupled with Europe's shifting defense spending priorities, is wreaking havoc on humanitarian lifelines amidst the ongoing war with Russia. Kanye West, also known as Ye, has had his Australian visa canceled after he released "Heil Hitler", a song promoting Nazism, the country's home affairs minister said Business & Markets   Employees work at a garment factory in Tiruppur, Tamil Nadu, India, April 22, 2025. REUTERS/Francis Mascarenhas/File Photo While D.C. focuses on the US budget, markets are focused on trade tensions. President Trump has said he won't extend a July 9 deadline for imposing higher tariffs on trading partners. Listen to Carmel Crimmins on the Reuters World News podcast for the latest. Trump's 145% tariff on items imported from China has forced American small and midsize manufacturers to face the choice between paying steep tariffs or taking on significantly higher domestic production costs. Even those willing to pay more to make goods in the US are confronting another reality: it is too expensive for their customers. For more on trade, sign up to our Tariff Watch newsletter and watch our daily rundown on financial markets. Intel's new chief executive is exploring a big change to its contract manufacturing business to win major customers, two people familiar with the matter told Reuters, in a potentially expensive shift from his predecessor's plans. Tesla's China-made EV sales edged up 0.8% in June from a year earlier to 71,599 units, snapping an eight-month losing streak, even as lower-cost new models from its Chinese rivals put growing pressure on the automaker. UK Prime Minister Keir Starmer's U-turns to pass welfare reforms mean the plans will no longer save taxpayers any money and have shredded the margin Britain relies on to meet its fiscal rules, analysts have warned. Dalai Lama says he will be reincarnated, Trust will identify successor   The Dalai Lama addresses a conference via a video message in Dharamshala, India, July 2, 2025. REUTERS/Anushree Fadnavis The elderly Dalai Lama assured his followers that upon his death he would be reincarnated as the next spiritual leader of Tibetan Buddhism and spelt out a succession process that sets up a renewed clash with China. The eagerly awaited statement, made days before the frail Nobel peace laureate turns 90, puts to rest speculation, started by the Dalai Lama himself, that he may be the last of Tibet's spiritual leaders, ending a line that stretches back centuries. Read more And Finally... People use handheld fans as they walk past the Cologne Cathedral in Cologne, Germany, July 1, 2025. REUTERS/Stelios Misinas Familiar with heat domes? This is how concrete, asphalt and urban heat islands add to the misery of heat waves. Read our story Get full access to Reuters.com for just $1/week. Subscribe now. Sponsors are not involved in the creation of newsletters or other Reuters news content. Advertise in this newsletter or on Reuters' website Reuters Daily Briefing is sent 5 days a week. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. Want to stop receiving this email? Unsubscribe here. 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Trump, Musk tensions reignite

Plus, Europe in the grip of a heatwave.

Global news you can trust. Download the Reuters App. Daily Briefing Daily Briefing By Kate Turton Hello. Trump suggests DOGE look at Musk's company subsidies,  and Senate Republicans sought to pass Trump's bill. Thousands flee wildfires as Europe is hit by an early heatwave, and a court suspends Thailand's Prime Minister. Plus, our graphics team delves into Wimbledon, and the uniqueness of grass courts. Today's Top News   Residents at the Ter Biest house for elderly people as a heatwave hits Europe, Grimbergen, Belgium June 30, 2025. REUTERS/Yves Herman Europe Firefighters battled wildfires in Turkey and France and more than 50,000 people were evacuated as an early summer heatwave hit Europe. Health alerts were issued in France, Spain, Italy, Portugal and Germany. Even the Netherlands, used to a milder climate, issued a warning for high temperatures. Scientists said the extreme temperatures in the region were related to a "heat dome" over continental Europe. But what exactly is a 'heat dome' and why do they happen? Listen to Kate Abnett on the Reuters World News podcast for the latest. Three senior managers from the hospital where nurse Lucy Letby was convicted of murdering babies worked, have been arrested on suspicion of gross negligence manslaughter, British police said. In other news President Donald Trump suggested that the government efficiency department should take a look at the subsidies that Tesla CEO Elon Musk's companies have received in order to save money. US Senate Republicans sought to pass President Donald Trump's sweeping tax-cut and spending bill, despite divisions within the party about its expected $3.3 trillion hit to the nation's debt pile. Iran-linked hackers have threatened to disclose more emails stolen from Trump's circle, after distributing a prior batch to the media ahead of the 2024 US election. Israeli strikes killed at least 60 people across Gaza in some of the heaviest attacks in weeks as Israeli officials were due in Washington for a new ceasefire push. Thailand's Constitutional Court suspended Prime Minister Paetongtarn Shinawatra from duty, pending a case seeking her dismissal, in a major setback for a government under fire on multiple fronts and fighting for its survival. Business & Markets   A steel worker at ThyssenKrupp AG takes a sample of raw iron from a blast furnace, Duisburg, Germany, January 28, 2019. REUTERS/Wolfgang Rattay/File Photo Factory activity across Europe showed more signs of steadying in June but shrank in many Asian economies as concerns over US tariffs kept demand low. Trump expressed frustration with US-Japan trade negotiations as Treasury Secretary Scott Bessent warned that countries could be notified of sharply higher tariffs as a July 9 deadline approaches despite good-faith negotiations. The Department of Government Efficiency initiative has pushed the US markets watchdog to loosen Wall Street rules around blank-check companies and confidential reporting by private investment funds, according to two people familiar with the matter. For more, watch our daily rundown on financial markets. Novo Nordisk's top executives ignored internal warnings that the company was not sufficiently prepared for the launch of its weight-loss drug Wegovy, leaving the Danish drugmaker in a more vulnerable position when rival Eli Lilly entered the market, six former employees involved in the discussions told Reuters. Tesla is expected to report another fall in quarterly deliveries on Wednesday as the backlash against CEO Elon Musk's political views and competitive pressures continue to drag on demand. The White House is negotiating with trading partners while US-China commerce seizes up. In this episode of The Big View podcast, Professor Simon Evenett of IMD Business School explains how the tense discussions might play out, and where they will leave the global trade system. Six questions facing US stock investors as 2025's second half kicks off    The US stock market completed a roller-coaster first half of the year at record-high levels but a host of factors could knock equities off their perch over the rest of 2025. The benchmark S&P 500 is up over 5% on the year so far, rebounding from an April plunge after an economic scare stemming from Trump's "Liberation Day" tariff plan. Here are some of the key questions facing US stock investors at the start of the second half. Read our analysis And Finally... As elite athletes batter a ball back and forth at Wimbledon, if you pan down, and zoom way way in, you'll see millions of tiny plants are getting battered as well. But such is their lot.  Read more Get full access to Reuters.com for just $1/week. Subscribe now. Sponsors are not involved in the creation of newsletters or other Reuters news content. Advertise in this newsletter or on Reuters' website Reuters Daily Briefing is sent 5 days a week. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here. This email includes limited tracking for Reuters to understand whether you've engaged with its contents. For more information on how we process your personal information and your rights, please see our Privacy Statement. Terms & Conditions © 2025 Thomson Reuters. All rights reserved. 3 Times Square, New York, NY 10036