The Full Belmonte 8/6/2022
People watch from the gallery before yesterday's vote during a special session at the Indiana Statehouse in Indianapolis. Photo: Jenna Watson/The Indianapolis Star via AP
“Indiana became the first state to approve a near-total abortion ban after the Roe ruling.
Indiana Gov. Eric Holcomb (R) signed the bill late last night after passage by the state House and Senate.
The ban takes effect Sept. 15.
Under the new law, abortions can be performed at hospitals or outpatient centers owned by hospitals. Abortion clinics will lose their licenses.
Business balks: The drug maker Eli Lilly — which is based in Indianapolis, and employs more than 10,000 in the Hoosier State — said the law could hamper the state's ‘ability to attract diverse scientific, engineering and business talent from around the world.’
‘Given this new law, we will be forced to plan for more employment growth outside our home state,’ the statement said.
Zoom out: Many other Republican states have already begun taking action to ban abortion, Axios Herb Scribner writes.” Read more at Axios
“The Senate parliamentarian today left Democrats' plan for curbing drug prices mostly unscathed, as party leaders prepared to start moving their sprawling economic bill this afternoon. Keep reading.
In a partial victory for the industry, the proposal to cap price increases for prescription drugs in the commercial market was blocked, Bloomberg reports.” Read more at Axios
“An Austin jury ordered conspiracy theorist Alex Jones to pay $45 million in punitive damages to the parents of a 6-year-old boy killed in the Sandy Hook Elementary School shooting. Jones falsely called the 2012 tragedy a hoax. Go deeper.” Read more at Axios
Anne Heche, 53, is known for films including Donnie Brasco, Cedar Rapids, and Psycho.Photograph: Mario Anzuoni/Reuters
“The US actor Anne Heche has reportedly been taken to hospital in a critical condition after a collision that left her vehicle ‘engulfed in flames’.
The incident occurred on Friday morning in the Mar Vista area of Los Angeles, near to Heche’s home.
The actor, 53, is the former partner of the US talkshow host Ellen DeGeneres, and is known for films including Donnie Brasco, Cedar Rapids and Psycho.
Pictures and video footage obtained by US media outlet TMZ showed Heche driving a blue Mini Cooper, which was later pictured severely damaged at the scene.
The vehicle struck a two-storey home and erupted in heavy fire, according to the Los Angeles fire department (LAFD).” Read more at The Guardian
“Bill Cosby is seeking a new trial in a civil case where a jury found he sexually assaulted a 16-year-old in 1975.” Read more at New York Times
“NEW YORK (AP) — Amazon on Friday announced it has agreed to acquire the vacuum cleaner maker iRobot for approximately $1.7 billion, scooping up another company to add to its collection of smart home appliances amid broader concerns from anti-monopoly and privacy advocates about Amazon’s market power and ability to gain deeper insights into consumers’ lives.
iRobot sells its products worldwide and is most famous for the circular-shaped Roomba vacuum, which would join voice assistant Alexa, the Astro robot and Ring security cameras and others in the list of smart home features offered by the Seattle-based e-commerce and tech giant.
The move is part of Amazon’s bid to own part of the home space through services and accelerate its growth beyond retail, said Neil Saunders, managing director at GlobalData Retail. A slew of home-cleaning robots adds to the company’s tech arsenal, making it more involved in consumers’ lives beyond static things like voice control. The latest line of Roombas use sensors to map -- and remember -- a home’s floor plan, offering a trove of data that Amazon could potentially integrate with its other products.” Read more at AP News
Photo: Reuters
“Lightning hits a tree in Lafayette Park, across from the White House, on Thursday evening. Three people were killed, and another was critically injured.
The frame grab above is from a Reuters TV camera mounted on a nearby rooftop.
Those killed are James Mueller, 76, and Donna Mueller, 75, of Janesville, Wis., and a 29-year-old man who hasn't been named.” Details. Read more at Axios
A Chinese J-11 military fighter jet flies yesterday above the Taiwan Strait near Pingtan, the closest land of mainland China to the island of Taiwan. Photo: Ng Han Guan/AP
“Taiwan officials said Chinese aircraft and warships rehearsed an attack on the island today as part of Beijing's retaliation for a visit by Speaker Pelosi, Reuters reports.
China also cut off contacts with the U.S. on vital issues yesterday — including military matters and crucial climate cooperation.
Taiwan's defense ministry said multiple Chinese ships and planes conducted missions in the Taiwan Strait — with some crossing the median line, an unofficial buffer separating the two sides.
Taiwan said it scrambled jets to warn away 20 Chinese aircraft, including 14 that crossed the median line.
China's Eastern Theater Command said it continued to conduct sea and air joint exercises north, southwest and east of Taiwan. It said its focus was on testing the system's land strike and sea assault capabilities.” Read more at Axios
“Pelosi’s Taiwan Trip Left Fuming White House Scrambling for Plan
Behind the scenes, Biden administration officials were fuming at Pelosi’s insistence on using the trip as a capstone for her career at a moment of highly delicate relations with Beijing. Jenny Leonard and Billy Housedescribe how it played out.
Pelosi’s visit briefly crashed Weibo, the Chinese equivalent of Twitter, as millions in the country debated her Asia trip.
White House Lobbies Democrats Against Bid to Deepen Taiwan Ties
The Biden administration is lobbying Democratic senators to put the brakes on a bill that would alter US policy toward Taiwan. Jenny Leonardand Erik Wasson report that the changes would include designating the island nation as a major non-NATO ally, sources say.” Read more at Bloomberg
“Ukraine’s Grain Corridors Still Need Ships to Ease Food Crisis
The first legal shipments of grain from Ukraine since the Russian invasion are a harbinger of relief for squeezed global markets. Aine Quinn, Ann Koh and Vivian Iroanya outline the many challenges to be overcome before the millions of tons of food stuck in the country can be released.” Read more at Bloomberg
The cargo vessel Razoni sailing to Lebanon along the Bosphorus Strait on Wednesday. Photographer: Ozan Kose/AFP/Getty Images
“GAZA CITY, Gaza Strip (AP) — Israeli airstrikes flattened homes in Gaza on Saturday and rocket barrages into southern Israel persisted, raising fears of an escalation in a conflict that has killed at least 15 people in the coastal strip.
The fighting began with Israel’s killing of a senior commander of the Palestinian Islamic Jihad militant group in a wave of strikes Friday that Israel said were meant to prevent an imminent attack. A 5-year-old girl and two women are among those killed in the strikes.
So far, Hamas, the larger militant group that rules Gaza, appeared to stay on the sidelines of the conflict, keeping its intensity somewhat contained. Israel and Hamas fought a war barely a year ago, one of four major conflicts and several smaller battles over the last 15 years that wreaked a staggering cost to the impoverished territory’s 2 million Palestinian residents.
Whether Hamas continues to stay out of the fight likely depends in part on how much punishment Israel inflicts in Gaza as rocket fire steadily continues.” Read more at AP News
“Iran Deal Slipping Further Out of Reach as Nuclear Talks Resume
European Union diplomats say the gulf between Iran and the US has widened since the last round of talks in Vienna as negotiations resume to revive the 2015 nuclear agreement. As Jonathan Tirone reports, their downbeat outlook suggests there’s limited prospect for a deal that could ease the global energy crunch by lifting sanctions on Iranian exports.” Read more at Bloomberg
“Germany Has Three Months to Save Itself From a Winter Gas Crisis
The presidential palace in Berlin is no longer lit at night, Hanover is turning off warm water in gym showers, and German municipalities are preparing heating havens to keep people safe from the cold of the coming winter. Much of Europe is feeling the strain from Russia’s squeeze on natural gas deliveries, yet as Vanessa Dezem, William Wilkesand Arne Delfs explain, no other country is as exposed as the region’s biggest economy.
High river temperatures driven by scorching weather may force Electricite de France to extend cuts to nuclear generation that have turned Europe’s biggest producer of atomic energy into a power importer.” Read more at Bloomberg
Lights remain off in apartment and commercial buildings at night in Frankfurt, Germany. Photographer: Ben Kilb/Bloomberg
“The pledge by Group of Seven leaders to stand by Ukraine for the long haul isn’t resonating with their Group of 20 counterparts. As Alan Crawford, Jenni Marsh and Antony Sguazzin report, only half of the G-20 nations that account for some 85% of global economic output have joined the international sanctions imposed on fellow member Russia over its invasion of Ukraine.” Read more at Bloomberg
Illustration: Victoria Ellis/Axios
“Recession fears and price pressures haven't tamed Americans' urge to splurge:
Credit-card balances are defying the gravitational pull of stubborn inflation and slower growth, writes Javier E. David, Axios managing editor for business and markets.
Credit cards account for $890 billion of Americans' staggering $16 trillion in household debt.
‘If your costs begin to exceed your income. What do you do? You look for a relief valve through borrowed money,’ investor Peter Tarr tweeted.
What's happening: Spending on experiences, like travel and entertainment, has supplanted physical goods like clothing and home items as the purchases of choice.
Consumers are compensating for soaring prices by discount shopping — and using copious amounts of plastic to offset surging costs for food and gas.
What we're watching: Bloomberg cited a New York Fed report highlighting a worrying rise in delinquent accounts among lower-income and subprime borrowers.
That could lead to a spiral of unpaid debts if the economy worsens.
Threat level: Credit-card issuers are leaning into Americans’ hunger for debt, primarily by offering travel-related bonuses and cash back on purchases, according to Wells Fargo data.
The survey found that 45% of Americans with rewards credit cards ‘rely on their credit card rewards to help offset some of the cost of everyday purchases.’” Read more at Axios
Data: Bureau of Labor Statistics. Chart: Erin Davis/Axios Visuals
“It took 27 months for the economy to regain the nearly 22 million jobs lost in the first two months of the pandemic. July figures, out yesterday, show they're all back — with 32,000 more than in February 2020.
The number of long-term unemployed people (above) was the lowest since July 2000, with the exception of April 2020, Nathan Bomey wrote in Axios Closer.
Why it matters: Recent layoffs have been worrying. But hiring appears to be overwhelming dismissals for now.
Some employers are abandoning résumé-filtering algorithms that eliminated long-term unemployed people as job candidates, Goodwill Industries International CEO Steve Preston tells Axios.
Front pages of today's New York Times and Wall Street Journal
The New York Times sees ‘many markers of a boom’ amid the inflation gloom — businesses want to hire, consumers want to spend, oil is gushing:
‘Recessions ... are about too much supply and too little demand. What the U.S. economy is facing is the opposite.’
Reality check: Tara Sinclair, an economist at George Washington University, told The Times it's ‘a boomtown situation where everyone’s just waiting for it to get cut off.’” Read more at Axios
FILE - Actor Kevin Spacey arrives at the Old Bailey, in London, on July 14, 2022. A judge on Thursday, Aug. 4, 2022, ruled that Spacey and his production companies must pay the makers of ‘House of Cards’ nearly $31 million because of losses brought on by his 2017 firing for the sexual harassment of crew members (AP Photo/Frank Augstein, File)
“LOS ANGELES (AP) — A judge on Thursday ruled that Kevin Spacey and his production companies must pay the makers of ‘House of Cards’ nearly $31 million because of losses brought on by his 2017 firing for the sexual harassment of crew members.
The ruling from Los Angeles Superior Court Judge Mel Red Recana gives the force of law to the $30.9 award in favor of MRC and other companies that produced the Netflix series by a private arbitrator who heard the case against Spacey.” Read more at AP News
“Warner Bros. canceled the release of ‘Batgirl’ as its parent company looked for budget cuts after a merger, according to The Hollywood Reporter.” Read more at New York Times
“‘Days of Our Lives,’ a daytime network television mainstay since 1965, is moving to NBC’s streaming service, Peacock.” Read more at New York Times
The more stripes, the better
”Tigers in Nepal have come back from the brink of extinction, and new research shows their numbers have nearly tripled since 2009! Nepal's National Tiger and Prey Survey 2022 found there are now 355 wild tigers in the country, a 190% increase since 2009. How did conservationists and national leaders do it? By making the care of tigers and their habitats a nationwide priority. The slim populations were a wake-up call, and in 2010, governments of countries home to wild tigers set a goal to double their numbers by 2022. Nepal is the first country to release new tiger data, and they smashed it. ‘There is support for the conservation of tigers at the highest level of government,’ says Ginette Henley, senior vice president for wildlife conservation at the World Wildlife Fund-US. ‘That has translated into really effective habitat conservation, bolstering the protection of tigers in national parks, the wildlife reserves.” Read more at CNN
It's getting better down where it's wetter
”Australia's Great Barrier Reef has been through a lot. Bleaching events, pollution and the ravages of climate change have done a number on the natural wonder over the years. But there's finally good news! Parts of the reef have recorded their highest amount of coral cover since the Australian Institute of Marine Science (AIMS) began monitoring 36 years ago. The survey of 87 reefs found that between August 2021 and May 2022, average hard coral cover in the upper region and central areas of the reef increased by around one third. While the reef is still sustaining a lot of damage, AIMS CEO Dr. Paul Hardisty said the results are a sign it could still recover.” Read more at CNN
Baywatch
”Maya Bay in Thailand has been stuck in a tourism Catch-22 for decades. On one hand, it's a delicate, secluded gem that is easily endangered by overcrowding. On the other hand, such beachside oases are important to Thailand's tourism industry. In fact, a few years ago, the bay was essentially getting loved to death by thousands of visitors per day. Boat traffic had destroyed a large portion of the bay's coral reef and sullied the area's natural beauty. However, in 2018, scientists convinced Thai authorities to close the bay completely so it could recover. It was definitely a gamble, but during the closure, marine experts replanted 30,000 pieces of coral in the bay's waters. That was enough to get the coral to start growing again on its own. Maya Bay reopened this year in much better condition, and will close again soon for two months to give the healing environment another break.” Read more at CNN
“This looks like something out of an ‘Avengers’ movie, and it kind of sounds like it, too. This is a water battery, and it could be a game-changer for renewable energy. This particular battery, called Nant de Drance, is located within 10.5 miles of tunnels under the Swiss Alps. The pumped storage hydropower plant provides the same energy storage capacity as 400,000 electric car batteries, and its reversible turbines mean the plant can transition from storing energy to providing electricity with the flick of a switch. This type of hydropower is far less disruptive to the surrounding environment, and scientists say adopting such water batteries could help stabilize electricity grids.” Read more at CNN