Newsletter May 9, 2024

Quick Six

Biden halts bomb shipment to Israel amid invasion of Rafah
In halting a shipment of thousands of bombs, President Joe Biden sent his most serious signal yet both to Israel and his critics, but it remains doubtful he can alter the course of the war in Gaza. He had long resisted stopping any of the $3 billion in weapons the US sends each year to Israel, but US officials say privately that his hand was forced after Israeli Prime Minister Benjamin Netanyahu made clear that he was proceeding with an assault on Rafah.
WHAT'S GOING ON BEHIND THE SCENES WITH US-ISRAEL?

US revokes some licenses over exports to China's Huawei
The US revoked some export licenses that allowed companies such as US chip firm Qualcomm to supply Chinese tech giant Huawei, which is in an intense technological rivalry between Beijing and Washington. The move comes after Republican lawmakers urged President Joe Biden's administration to block all export licenses to the company following the release of a new computer powered by a chipset by US chip giant Intel.
SEE THE REACTIONS OF US CHIP GIANTS TO THE ORDER

AB InBev shows strong profits as Bud Light boycott wanes
The world's largest brewer AB InBev on Wednesday toasted a jump in profits in the first quarter, despite a drop in beer sales driven by a Bud Light boycott in the US. AB InBev got caught in the US culture wars in 2023 after it teamed up with a transgender influencer to promote Bud Light, sparking a nationwide boycott by conservatives. Despite the sales decline, higher prices allowed AB InBev to increase its revenue by 2.6% to $14.5 billion dollars.
WHICH BEER BRANDS ARE MAKING UP FOR BUD LIGHT?

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DJIA	39,056.39	0.44%
S&P 500	5,187.67	0.00%
Nasdaq Composite	16,302.76	-0.18%
Japan: Nikkei 225	38,392.10	0.50%
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* As of market close

House kills Greene's bid to vacate Johnson

Rep. Marjorie Taylor Greene's attempt to remove House Speaker Mike Johnson from his leadership role fell flat on Wednesday as Democrats and mainstream Republicans joined forces to vote against bringing her motion to vacate to the floor. By a 359-43 vote, Greene's action failed and she was roundly booed for bringing the motion against Johnson, who is under fire from ultra-conservatives for supporting Ukraine aid and other Democratic priorities. Johnson met with her in an effort to clear the air, but Greene called the motion and Johnson called her bluff

SEE WHY GREENE IS OPPOSING TRUMP WITH SPEAKER VOTE

Biden launches anti-Trump ad campaign

President Joe Biden announced a $14 million boost in new ad spending across battleground states in the U.S., while also targeting former President Donald Trump on healthcare issues. The campaign is capitalizing on its early start in fundraising activities, providing an advantage over the campaign efforts of Trump. Biden also paid a campaign stop in Wisconsin, announcing a new Microsoft project while visiting a defunct FoxConn plant announced by Trump in 2018.

WHY BIDEN IS TARGETED TRUMP ON APPEAL OF OBAMACARE

Prince Harry in UK but no meeting with king

Prince Harry was in London Wednesday to mark the 10th anniversary of his Invictus Games for wounded military veterans, but there was no meeting with his estranged father King Charles III. Harry's visit to the British capital has sparked a fresh round of speculation about a reconciliation with his family and a possible end to four years of rancor.

FIND OUT WHY THE TWO DID NOT FIND TIME TO RECONCILE

Extra point

Who are the top-five in the line of succession behind King Charles?

Wednesday's answer: The 1,000 Swiss Francs (CHF) is world's the most valuable single bank note, currently worth $7,404 in US dollars.

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