Asian, European and U.S. markets are recovering from yesterday’s massive stock slide — except for China, which is slashing benchmark lending rates in response. The Shanghai Composite index, which shed 8.5 percent of its value yesterday, fell another 7.6 percent today. While Japan also suffered in China’s shadow, Hong Kong stayed level as Australian, U.S. and European indexes rose sharply — though the Dow closed a few hundred points down by the end of trading. Easing global market angst may be difficult, experts say. There’s no hard economic data to justify it, and without a cause, a cure will be elusive.
The Presidential Daily Brief
He’s trying to right historic wrongs. A newly appointed judge has upended the town’s justice system, canceling all arrest warrants issued before 2015. Judge Donald McCullin says he wants to restore some faith in a system wracked by charges of racism in the wake of last year’s killing of an unarmed black youth. This comes five months after the Justice Department ruled that city courts were being used to raise revenue from impoverished defendants. At 74, McCullin is just one year shy of retirement — so he’s likely to be unruffled by the inevitable backlash.
This could weigh his campaign down. Presidential hopeful Jeb Bush recently outraged some Latino activists by using the phrase “anchor babies” — widely considered a derogatory term. The ex-Florida governor attempted to make peace by explaining that his use of the phrase was ”frankly, more related to Asian people,” unleashing a new wave of outrage. He says he was referring to documented instances of travel schemes that fly expectant moms to America in order to guarantee their child U.S. citizenship — but now he’ll be ducking charges that his defense gave offense.
He says it was just a robbery. But French officials say Ayoub El-Khazzani watched a video advocating jihad shortly before carrying an assault rifle through a train from Amsterdam to Paris — and being stopped and tied up by passengers. They’ll now attempt to prove the suspect’s links to terrorist groups and suspicious travel and determine just how he acquired an assault rifle and 9mm handgun, not to mention hundreds of rounds of ammunition, which he says he found in a park in Brussels.
Now we can breathe. Soldiers were maimed, artillery was exchanged and bellicose threats were made by both the Hermit Kingdom and its rival South Korea. But as North Korean forces seemed mobilized for all-out war, the two sides met at Panmunjom — where they signed their 1953 armistice — and negotiated a truce. North Korea agreed to apologize if the South stopped its propaganda broadcasts, and both complied today. At the table, they also agreed to move forward next month to reunite families separated decades ago by the Korean War.
Obama reportedly gives Biden ‘blessing’ for presidential bid. (CNN)
ISIS victims testify in first U.N. Security Council meeting on LGBT rights. (Reuters)
Nepalese protesters kill child, seven policemen with spears, axes. (WSJ) sub
More than 2,000 refugees enter EU as border fence goes up. (Al Jazeera)
IndyCar driver Justin Wilson dies after being injured by debris. (USA Today)
He crossed the Donald’s borderline. Univision host Jorge Ramos interrupted a press conference in Dubuque, Iowa trying to start a debate with the Republican frontrunner over his controversial immigration proposals. After repeatedly asking Ramos to wait his turn, Trump created an instant meme, telling the journalist to “go back to Univision.” Security then escorted the 57-year-old out of the room. Trump insisted he was happy to engage with Ramos, and sure enough, 20 minutes later the booted correspondent was back in the room, as the candidate trumpeted having a “bigger heart” than the dogged reporter.
This was the obvious next stop. The transportation disruptor revolutionized the single ride business, then offered discounts for sharing rides with UberPool. Yesterday it confirmed it’s testing “Smart Routes” along certain popular paths in San Francisco, knocking another buck off prices if riders don’t mind walking a bit to the nearest route. It’s like a bus service — at a markup — but can quickly shift with demand. And rather than fighting tooth-and-nail with transit agencies, as it has with conventional taxis, the trends suggest the world-conquering app may work in concert with them.
Quick, what’s the difference between an expat and an immigrant? Even if you resisted saying it, you probably thought it: Expats are white, wealthy and Western and immigrants aren’t. OZY’s Laura Secorun Palet suggests we abolish the distinction. While Europeans battle a crisis involving migrants — another tricky word — some countries are trying to reform historically lax regulations on privileged foreign residents. Tanzania, for example, wants to compel companies exclusively employing such folk to hire local citizens instead, helping give ”expat” the immigrant status it richly deserves.
It’ll be a singular malt. Japanese distillery Suntory sent six liquor samples — including whiskey — into space to see if orbital aging mellows the beverages better than the traditional method. After a year in orbit, they’ll return to earth to be measured against a terrestrial control group. Japan’s Kounotori vessel also brought long overdue supplies — three vessels have recently failed to reach the six astronauts. Along with booze, it delivered twelve mice that’ll be subjects in another aging study — and perhaps drinking buddies for lonely crew members.
It can’t be stopped. AMC’s spinoff from cable’s biggest hit consumed 10.1 million viewers for its 90-minute pilot episode Sunday night, eclipsing the network’s own ratings for the premiere of Breaking Bad spawn Better Call Saul. And Fear the Walking Dead isn’t just piling on more zombies. While Walking Dead is set in small-town Georgia, the new series showcases the early days of the apocalypse in Los Angeles. That’s appropriate, because there will only be six episodes this season, priming fans for the main show’s inexorable reanimation Oct. 11.
They could give Peace another chance. The 35-year-old forward, known as Ron Artest until a 2011 name change, has been playing in China and Italy since last year — but may revive his 15-year NBA career. He played a key role in L.A.’s 2010 championship, and the team is short on wings. In fact, Peace has been practicing with the team this summer, scrimmaging with Julius Randle, last year’s seventh overall draft pick. The deal’s not done, but Peace talks are reportedly underway.