Barack Obama warns of ‘tight race’ in speech backing Kamala Harris

Good morning. Right now we’re :

• Plans by Mexico’s judges to stroll out of courtrooms in protest

• The ‘minimal’ possibilities of discovering the lacking yacht passengers

• Arrests made by police at demonstrations in Chicago

However first, we flip our consideration to former president Barack Obama, who has simply delivered a rousing speech to cheering crowds on the Democratic Nationwide Conference.

Regardless of now being out of workplace for eight years, Obama has maintained his place among the many hottest and influential figures within the Democratic celebration. With this political star energy, he tried to quash any doubts over Kamala Harris’s candidacy and cautioned voters towards complacency, warning it will be a “tight race” for the White Home.

Some Democrats tried to attract parallels between his profitable 2008 marketing campaign to be elected the primary Black US president and Harris’s bid to turn out to be the nation’s first feminine president. As he took the stage, he was met with chants of his personal marketing campaign slogan, “Sure we will”, later echoed by his personal phrases in help of the vice-president: “Sure she will be able to.”

The previous Democratic president additionally took a while to honour the legacy of Joe Biden, with whom he had an advanced relationship in workplace, regardless of being conspicuously silent as their celebration pressured the 81-year-old to desert his re-election bid. A couple of days after Biden’s determination to step down, Obama endorsed Harris, however Tuesday’s address was his most forceful statement of support for her.

• Kamalanomics: Good coverage, or good politics? Steff Chávez discusses Harris’s economic agenda within the newest version of US Election Countdown. Join the e-newsletter here.

Right here’s what else I’m holding tabs on right now:

• Federal Reserve: The central financial institution’s rate-setting committee releases minutes from its final assembly, forward of a speech by chair Jay Powell at Jackson Hole on Friday.

• Israel-Hamas warfare: Hamas denies that it’s “backing off” from a ceasefire-for-hostages deal.

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5 extra prime tales

1. Mexico’s federal judges will stroll out of courtrooms in protest towards López Obrador’s radical overhaul plan that may pressure them to face for election, risking substitute. The leftist president seeks to reshape the judiciary throughout his ultimate weeks in workplace. The nation’s authorized group and worldwide consultants have stated the overhaul is a direct threat to judicial independence, the rights of minorities and rule of regulation.

2. Police and protesters conflict outdoors the Israeli consulate in Chicago lower than two minutes after the Democratic conference. Whereas Democrats had gathered to appoint Kamala Harris for president, police in riot gear confronted demonstrators protesting towards the Israel-Hamas warfare and made arrests.

3. Walmart cuts its stake in Chinese language ecommerce big JD.com to zero as a part of plans to increase its personal model in different international locations. The retailer disclosed in a submitting to the US Securities and Trade Fee that it had fully disposed of its practically 10 per cent holding within the ecommerce firm. Ryan McMorrow has the full story here.

4. There’s a ‘minimal probability’ that Mike Lynch and different lacking yacht passengers are alive in line with Italian authorities. Rescue operations have been suspended at about 11.30pm on Tuesday on the port of Santa Flavia in Sicily and have been resuming right now, police told the Financial Times. A helicopter and a motorboat had earlier carried out a floor search

5. Virtually $90bn poured into US cash market funds within the first half of August as traders look to lock in engaging yields that might outlast an anticipated rate of interest minimize by the Federal Reserve subsequent month. Cash market funds, pulled in internet inflows of $88.2bn between August 1 and August 15 — the highest figures for the first half of a month since November final yr.

The Huge Learn

The US helps to finance the Lobito Hall, a revival of a 100-year-old railway line that may join resource-rich Democratic Republic of Congo to Angola’s Atlantic coast. The formidable undertaking will value not less than $10bn and contains different infrastructure together with bridges and roads. However Washington’s help for important minerals throughout the broader area isn’t any remoted act. It’s a part of a technique to reverse its diminished influence in Africa, the place different international locations corresponding to China have gained floor. 

We’re additionally studying . . . 

• US tipping system: In full-service eating places, workers are pressured to depend on tricks to make up the distinction to the authorized minimal for different jobs. However the tipping system is teetering, writes Brooke Masters.

• Canadian firms: Canada’s two largest freight railways stated they may lock out railway staff and shut down their operation, which might have devastating penalties for the North American financial system.

• CrowdStrike Inc: The president of CrowdStrike has known as out “shady” efforts from cyber safety rivals to scare its clients since its botched software program replace sparked a world IT outage.

Chart of the day

The greenback hit its lowest level because the begin of the yr yesterday as traders braced for the Federal Reserve to begin decreasing rates of interest and the August sell-off that spooked markets pale.

Take a break from the information

Because the seventh youngster of the twenty fifth son of the founding father of the Kingdom of Saudi Arabia, Mohammed bin Salman was not destined for the throne when he entered politics in 2009. A brand new BBC documentary charting his formidable rise paints a Machiavellian portrait of the crown prince, writes Dan Einav.

Extra contributions from Benjamin Wilhelm and Tee Zhuo