Thursday Morning Briefing

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President Donald Trump delivers remarks on proposed changes to the U.S. tax code at the state fairgrounds in Indianapolis, Indiana, U.S. September 27, 2017. REUTERS/Jonathan Ernst

 


U.S. politics

 

President Donald Trump proposed the biggest U.S. tax overhaul in three decades, calling for tax cuts for most Americans, but prompting criticism that the plan favors business and the rich and could add trillions of dollars to the deficit. The proposal drew a swift, skeptical response from Senator Bob Corker, a leading Republican “fiscal hawk,” who vowed not to vote for any federal tax package financed with borrowed money. 

 

Reuters TV: What Trump’s tax plan doesn’t say

 

Trump administration proposes to cut refugee cap to 45,000

 

Trump vows another healthcare vote next year, eyes executive order

 

California moves presidential primary for bigger say in candidate choice

 


Tech

 

Trump criticized Facebook as “anti-Trump” and questioned its role during the 2016 presidential campaign, amid probes into alleged Russian interference in the election and possible collusion by Trump’s associates.

 

Facebook, Google and Twitter asked to testify on Russian meddling

 

Bitcoin blow as fund drops U.S. exchange application

 

Breakingviews - Crypto-currencies can't salvage hedge-fund junkies

 


Commentary

 

The decision by London authorities to strip Uber of its license to operate in the British capital is part of a wider backlash in a rapidly escalating war between governments and the tech firms they believe have become too powerful and contemptuous of rules and democratic authority, writes columnist Peter Apps.

 


 

Orlando City Supporters march to the stadium prior to the game against the New England Revolution at Orlando City Stadium. Kim Klement-USA TODAY Sports

 


World

 

Playboy founder Hugh Hefner, who helped usher in the 1960s sexual revolution with his groundbreaking men’s magazine and built a business empire around his libertine lifestyle, died on Wednesday at the age of 91, Playboy Enterprises said. 

 

South Korea expects more provocative acts by North Korea in mid-October

 

U.S. student held in North Korea died of oxygen starved brain: coroner

 

Japan calls snap election as new party roils outlook

 


Puerto Rico

 

Demand for cash in hurricane-ravaged Puerto Rico is “extraordinarily high” after power outages knocked out electronic transactions and ATMs but needs were being met for now, a Federal Reserve branch said. 

 

With cell service crippled, Puerto Ricans look skyward for a signal

 

A radio voice of calm in the storm

 


Business

 

It’s back - at least for one day. The “reflation,” or “Trumpflation,” trade that drove financial markets after Trump’s surprise presidential election victory last November made a comeback as the unveiling of a long-promised tax overhaul revived bets that markets would benefit from both faster economic growth and inflation. 

 

The dollar and global borrowing costs rose on Trump’s announcement on tax reform and strong data that supported the case for another Federal Reserve rate hike later this year. The dollar's strength pressured many emerging market currencies and commodities, but Europe's main stock markets gave Trump's blueprint the cautious thumbs up after Wall Street and Japan's Nikkei had gained overnight. 

 

Exclusive: Lyft close to selecting IPO adviser - sources

 

Toshiba $18 billion sale of chip unit finally signed, legal challenges remain 

 

As Ryanair cancellations mount, UK regulator urges 'action, not words'

 


Bombardier battle

 

Stiff U.S. duties imposed on Bombardier’s CSeries jet sparked retaliation threats from Britain and Canada’s Quebec province as the dispute, which may affect thousands of jobs, overshadowed North American trade talks. 

 

Little-known U.S. trade commission faces test in Boeing-Bombardier case 

 

Canada's Bombardier eyes options after blows to rail, aero units 

 

PM May warns Boeing its relationship with the UK is being undermined by Bombardier row

 

 

 

Tributes pour in for Playboy founder Hugh Hefner

Wednesday Morning Briefing

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A doctor checks the eyes of Hilda Colon at a shelter set up at the Pedrin Zorrilla coliseum after the area was hit by Hurricane Maria in San Juan, Puerto Rico, September 25, 2017. REUTERS/Carlos Garcia Rawlins

 


Washington

 

U.S. Republicans fell short yet again in their seven-year drive to repeal Obamacare, in a bitter defeat that raises more questions about their ability to enact President Donald Trump’s agenda. The party was unable to win enough support from its own senators for a bill to repeal the 2010 Affordable Care Act and decided not to put it to a vote, several Republicans said. The bill’s sponsors vowed to try again, but face steeper odds after Sunday, when special rules expire that allow them to pass healthcare legislation without Democratic support. 

 

U.S. healthcare bill's collapse escalates Republican infighting

 

Trump shows interest in bipartisan tax reform as Obamacare repeal collapses

 

Alabama voters elected conservative firebrand Roy Moore as the Republican nominee for a U.S. Senate seat, dealing a blow to Trump and other party leaders who had argued that rival Luther Strange was a better bet to advance their priorities in Washington. 

 

Republican U.S. Senator Corker will not seek re-election next year

 


World

 

U.S. Defense Secretary James Mattis arrived in the Afghan capital on an unannounced visit hours after several small rockets exploded in and around Kabul airport, police said. There were no reports of casualties or damage in the attack which for which Islamic State claimed responsibility. 

 

After spate of suicides, China targets predatory student lending

 

Thai former PM Yingluck gets five-year jail term for negligence

 

Saudi king decrees women be allowed to drive

 

Reuters TV: Macron unveils radical reform plan for EU

 


Commentary

 

While the Sept. 25 Kurdish referendum is non-binding and the final tally may not be known for several days, the expected vote for independence "means that 'Iraq' no longer in practice exists," writes Peter Van Buren, a Reuters columnist who served for 24 years in the U.S. State Department. While the division of Iraq into three separate states might have been good for the Middle East back in 2006, "events of the last decade mean the chance of Kurdish independence adding to regional stability is near zero," says Van Buren.

 


Puerto Rico

 

Trump praised his administration for “a really good job” helping Puerto Rico recover from Hurricane Maria, discounting complaints of a slow response, and the U.S. island territory’s governor joined in defending the relief efforts. 

 

Power blackout leaves darkened Puerto Rico isolated and paralyzed

 

Gallery: Puerto Rico in the dark

 


An Afghan man prepares to burn a pile of illegal narcotics on the outskirts of Jalalabad, Afghanistan September 26, 2017. REUTERS/Parwiz

 


Business

 

Rising expectations the U.S. Federal Reserve will raise interest rates for the third time this year lifted the dollar and share prices rose as Trump’s administration prepared to outline a new tax plan. 

 

The U.S. Commerce Department slapped preliminary anti-subsidy duties on Bombardier Inc’s CSeries jets after rival Boeing Co accused Canada of unfairly subsidizing the aircraft, a move likely to strain trade relations between the neighbors. 

 

Uber defends business model at UK tribunal on worker rights

 

U.S. Commerce Secretary says market access, protectionism top China issues

 


Cyber risk

 

The chairman of the U.S. Securities and Exchange Commission  told a congressional committee  he did not believe his predecessor Mary Jo White knew of a 2016 cyber breach to the regulator’s corporate disclosure system, the exact timing of which could not be known “for sure.” 

 

Breakingviews - Equifax can't even oust its failed CEO effectively

 

Greek central bank dismisses Anonymous hacking claim

 


Tech

 

In a rare public feud between large technology companies, Amazon said its Echo Show devices could no longer play videos from YouTube because the site’s parent, Google, stopped supporting the service

 

Ford and Lyft will partner to deploy self-driving cars

 

Twitter to test 280-character tweets, busting old limit