The Presidential Daily Brief

Defying Mass Protest, Hong Kong Retains Extradition Bill

After the biggest protest in Hong Kong since 2014’s Umbrella Movement, Carrie Lam, the semi-autonomous city’s chief executive, refused to shelve a proposed law that would allow suspects to be extradited to mainland China. Demonstrators, who turned out by the hundreds of thousands Sunday, worry that they’ll be subject to the same repression experienced by the rest of the country. Police clashed with small groups of protesters who refused to disperse after midnight.

What’s next for the bill? It’ll get its second reading Wednesday in Parliament, which observers say is accountable more to Beijing than its citizens.

Read OZY’s look at how China is cultivating influence in Taiwan.

Gove’s Cocaine Use Muddies Race for UK PM

Environment Secretary Michael Gove may be forced to withdraw his candidacy to replace Prime Minister Theresa May after allegations that he lied to authorities about his prior drug use. Gove admitted to having used cocaine 20 years ago while working as a journalist, but is accused of misleading U.K. officials and U.S. border authorities about it. Rival candidates have suggested he could be subject to a U.S. travel ban if the allegations are true.

Who’s in the lead? Gove’s support is expected to bleed to other candidates with a similar stance on Brexit, including front-runner Boris Johnson and underdogs like Health Secretary Matt Hancock.

NRA Financial Scandal Deepens

New revelations from a Washington Post investigation add to a wider controversy about questionable spending at the National Rifle Association. Financial records indicate 18 of the NRA’s 76 otherwise-unpaid board members received money from the group, including Dave Butz, a former NFL player who pocketed $400,000 for public outreach and training. The organization maintains the allegations are unfounded.

Is faith in the NRA shot? Some members expressed frustration about “corruption and cronyism” and others are annoyed at being squeezed for more donations, but some dismiss the scandal as being stirred up by gun control advocates.

Hear women defend gun rights in OZY’s Take on America.

United Technologies, Raytheon to Merge for Aerospace Giant

United Technologies Corp. announced yesterday that it’s planning an all-stock merger with Raytheon Co. to create a $100 billion aviation and space powerhouse exceeded in size only by Boeing. The merged company, split evenly between defense and commercial sales, would make big-ticket items like F-35 fighter jets, Patriot missile systems, space suits and even seats for airliners. It’s part of an industry consolidation trend amid government cost-cutting.

How certain is this marriage? The proposed firm, Raytheon Technologies Corp., would be created from two businesses that don’t overlap much, so experts expect U.S. antitrust regulators to approve the deal.

Check out OZY’s feature on China’s space industry.

Also Important…

A court in India has convicted six men in the rape, torture and murder of an 8-year-old Muslim girl in Indian-controlled Kashmir. Former Boston Red Sox slugger David Ortiz has been shot and wounded by a motorcyclist in his native Dominican Republic. And authorities have detained some 500 people in demonstrations against Sunday’s Kazakhstan presidential elections, which protesters say were rigged.

#OZYfact: In 2018, 52 percent of Americans went to at least one live music event. Read more on OZY.

OZY Fest is back! Join OZY in New York’s Central Park July 20-21, where some of the biggest names and boldest thinkers — from John Legend and Trevor Noah to Stacey Abrams and Malcolm Gladwell — will help make this year’s OZY Fest the most memorable yet. Click here for tickets.