On Thursday, Mr. Saied presented a draft version of a new constitution that would grant him the ability to extend his tenure beyond the current limit of two presidential terms. It would also increase the powers of the presidency and curtail those of the parliament, which, under the existing constitution, check the executive's power.
Several People Killed in Shooting at Copenhagen Mall
Several people were killed in a shooting at a Copenhagen shopping mall on Sunday evening, according to local police, who said that one person had been arrested.
Police said three people were killed and three others were critically wounded, the Associated Press reported.
Israel Shoots Down Hezbollah Drones Headed for Mediterranean Gas Rig
TEL AVIV-Israel on Saturday shot down three drones that it said Iran-allied militant group Hezbollah launched toward an Israeli gas rig located in a disputed drilling area of the Mediterranean Sea, marking an escalation between two of the Middle East's fiercest foes.
Israeli Defense Minister Benny Gantz said Hezbollah, based in Lebanon, was trying to stymie U.S. efforts to broker a deal for maritime borders between Israel and Lebanon. At the heart of those talks are potentially lucrative new gas fields that Israel is moving to develop over the objections of Lebanon.
GLOBAL NEWS
China's Slowdown Could Tamp Down Global Inflation
China's slowdown may have a silver lining for the rest of the world: weaker inflation.
Growth in the world's second-largest economy has tumbled this year as Covid-19 outbreaks triggered mass lockdowns and business closures. The government has announced a range of stimulus policies, but many economists say Beijing's 2022 growth target of around 5.5% is unlikely to be achieved as long as the threat of new lockdowns hangs over the economy.
Bond ETFs Attract New Investors With Narrower Offerings
This wouldn't seem to be the best of times for exchange-traded funds that focus on fixed income. A resurgence of inflation not seen in 40 years has put upward pressure on interest rates, which, in turn, has sent prices of bonds and bond funds tumbling.
Yet new investment in fixed-income ETFs continues apace.
Crypto's Domino Effect Is Widening, Threatening More Pain
Turmoil in the digital-assets ecosystem has grown in recent weeks, with losses in cryptocurrencies blowing holes in balance sheets and pushing firms near bankruptcy.
After a pair of cryptocurrencies crashed, wiping out billions of dollars in value in May, a British Virgin Islands court this past week ordered a hedge fund that had survived several crypto downturns to liquidate. Another platform that counts the hedge fund as an investor capped withdrawals while evaluating how the hedge fund's woes would affect its liquidity.
Markets Had a Terrible First Half of 2022. It Can Get Worse.
We're halfway through the year, but markets are beginning to fear we're not even halfway through the bad news 2022 has in store.
The first six months were full of surprises: Inflation. The biggest selloff in bonds in four decades. A plunge in tech stocks rarely matched in history. And the implosion of crypto.
Americans Have Had It With Inflation
James Duffy used to frequent the coffee shop on weekends to enjoy an Americano and read a book. Then, rising inflation started to bite.
Mr. Duffy, 25 years old, began cutting back on coffee outings earlier this year. Now, he brews a big pot of coffee at home, part of a broader attempt to save money as prices rise for gas and groceries. The Greenwich, Conn., resident said he is becoming more of a homebody, limiting his outings to walks and get-togethers with friends.
Biden Faces Fresh Domestic Challenges After Europe Summits
President Biden returned from Europe with a deal to expand the NATO alliance and plans for the biggest U.S. military footprint in the continent since the Cold War. But awaiting him back home was a host of domestic challenges, including intraparty frustration with his response to the Supreme Court's ruling overturning abortion rights, continuing economic worries and questions about the fate of his legislative agenda.
With some fellow Democrats calling for him to be more forceful on abortion, Mr. Biden endorsed making an exception to filibuster rules to pass legislation codifying Roe v. Wade into law, as he wrapped up his trip. And on his first day back, he met virtually with Democratic governors, some of whom continued to push Mr. Biden to make more use of federal resources to protect access to abortion.
Jeff Bezos Criticizes Biden's Call for Gas Stations to Cut Prices
Amazon.com Inc. founder Jeff Bezos criticized President Biden for pressing gas-station companies to immediately lower their prices at the pump, accusing the president of "misdirection" or "a deep misunderstanding" of market forces that have driven up costs.
Mr. Biden wrote in a tweet on Saturday: "My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril."
More Than Two Dozen Sailors Missing After Ship Breaks in Half During Typhoon off Hong Kong
Authorities in Hong Kong said they are conducting a search and rescue operation for more than two dozen seamen in the South China Sea after a ship broke in half during a typhoon.
The engineering vessel suffered heavy damage after being caught near the center of Typhoon Chaba, around 186 miles southwest of the city, the Hong Kong Government Flying Service said in a social-media post Saturday.
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
07-04-22 0509ET
