Hello! Here’s what you need to know on Friday.
1. Donald Trump’s attempt to repeal Obamacare has failed again. Senate Republicans came out of 20 hours of debate with a stunning failure in their efforts to overhaul the US healthcare system after Senator John McCain cast a decisive vote. Early Friday morning, the Senate voted against a “skinny” plan to repeal the Affordable Care Act.
2. New White House communications director Anthony Scaramucci wants to “f—–g kill all the leakers” and fire everyone. In an extraordinary and explicit call with New Yorker reporter Ryan Lizza, he called Trump’s chief of staff Reince Priebus, a “paranoid schizophrenic” and criticised chief strategist Steve Bannon, adding he would purge staff. After publication, Scaramucci said he “made a mistake in trusting in a reporter“.
3. The new US Foxconn factory Donald Trump claimed credit for is going to cost taxpayers at least $US3 billion. The $10bn flat panel screen plant planned for House Speaker Paul Ryan’s district by the Taiwanese iPhone supplier has been offered at least $3 billion in subsidies.
4. Amazon’s Q2 earnings fell well short of Wall Street’s expectations. The company’s earnings missed analysts’ forecasts by more than a dollar a share and it also offered a disappointing outlook for the third quarter, leading to a sell off by investors, but Jeff Bezos was briefly the world’s richest man.
5. Britain wants to test China’s resolve in the South China Sea. During a speech in Australia, UK Foreign Secretary Boris Johnson said Britain will sail two new aircraft carriers, the HMS Queen Elizabeth and HMS Prince of Wales, through the disputed waterways on a freedom-of-navigation operation.
6. Barclays has set aside an extra £700m for compensation claims over mis-sold payment protection insurance. The British bank now has now allocated £2.1bn to deal with PPI complaints, it said while reporting a 13% jump in group pre-tax profits to £2.34bn for the first six months of 2017. But PPI costs mean Barclays made an attributable loss of £1.4 bn in the second quarter.
7. The US government ordered the families of staff at its embassy in Venezuela to leave. The direction came days before a controversial vote that’s seen at least 100 people die in violent protests over the last three months. President Trump warned of economic sanctions if Venezuelan President Nicolas Maduro goes ahead with Sunday’s constitutional vote to create the powerful legislative assembly that critics argue will end democracy and create a socialist dictatorship.
8. Legendary investor Byron Wien says the stock market is entering uncharted territory. The vice chairman of Blackstone’s private wealth solutions group is troubled that stock indexes continue to make new highs as the Fed prepares to shrink the assets it holds.
9. Japan’s Defence Minister has resigned and PM Shinzo Abe apologised for a scandal involving troop logs in South Sudan. An internal Defence Ministry probe could not conclusively say if she had played any role in green-lighting the eventual decision to cover up the fact that Japanese troops were put in dangerous situations, contrary to the rules of engagement.
10. The all-new Rolls-Royce Phantom is a modern private jet for the road. The luxury British car maker has unveiled the Phantom VIII.
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