Hello! Here’s what you need to know on Wednesday.
1. Donald Trump says the US and Britain are working on a post-Brexit trade deal. The President used his favourite diplomatic channel, Twitter, to saying “Working on major Trade Deal with the United Kingdom. Could be very big & exciting. JOBS! The E.U. is very protectionist with the U.S. STOP!”
2. The US Senate is still struggling with what do about repealing Obamacare. Senate Republicans introduced a new version of their plan to repeal and replace it late Tuesday, but it failed a key procedural test, in 57-43 vote, as nine Republican senators joined all Democrats in opposing it.
3. Beijing is running underwater drone tests in the South China Sea. Amid rising tensions in the disputed territorial waters, China is fast tracking the tests hoping the drones will deliver real-time data to find and track foreign submarines in the area. A dozen underwater gliders were dropped in the area earlier this month, according to Xinhua.
4. Republicans are starting to come out in support of US Attorney General Jeff Sessions. Senator Ted Cruz, Trump’s main rival during last year’s Republication nomination race, was among those offering support amid continued attacks by the President on his own appointment just five months ago.
5. Apple just had the fine for a patent infringement doubled to $US506 million. A US increased the damages penalty of $234 million following the October 2015 jury decision in favour of the Wisconsin Alumni Research Foundation because Apple continued to infringe the patent, which relates to computer processor technology, until it expired in December 2016. Apple is appealing the ruling.
6. Saudi Arabia is planning further export cuts in a bid to boost oil prices. OPEC’s largest producer and the world’s largest oil exporter said would be limit exports to 6.6 million barrels per day, nearly one million less daily on a year ago.
7. Elon Musk and Mark Zuckerberg had their own public war of words over the future of artificial intelligence (AI). The fight between billionaires, was kicked off by the Facebook CEO during a Sunday afternoon barbeque when he said during a Live chat that he was “really optimistic”, and he didn’t understand why other were “really negative” saying it was “pretty irresponsible”. The Tesla boss, who thinks AI could be more dangerous that nuclear weapons, responded that Zuckerberg’s “understanding of the subject is limited”.
8. Billionaire investor Warren Buffett is setting his sights on a Latin American company. Bloomberg says his company, Berkshire Hathaway, is in talks to buy a stake in reinsurer IRA Brasil Resseguros, following its $US920 million IPO on July 27. The Brazilian government currently the biggest shareholder with a 27% stake.
9. Britain is going to ban the sale of new petrol and diesel vehicles from 2040. The UK government is due to make the announcement today as part of a £3bn program to improve air quality, just days before a High Court deadline for a clean air strategy.
10. A British EU negotiator, says Brexit is going to be far worse than anyone could have guessed. From medical isotopes for cancer treatments to the UK being unable to certify the people who fix planes, “there are literally hundreds of such issues where the effects of Brexit will be detrimental to the UK”.
Dr G Yunupingu, the blind Australian Aboriginal singer who performed for Queen Elizabeth II and Barack Obama, has died, aged 46. Rolling Stone featured him on the cover hailing him as “Australia’s most important voice”.
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