| What Happened, Why it Matters | | | July 9, 2015 S.C. House Votes to Lower Flag | Deadline Looms for Greece | Chinese Stocks Rise, For Now | Mount Fuji Goes High ... Tech |
|  | | Flagging Appeal: Confederate flag supporters have learned that it will no longer fly at the South Carolina Statehouse. Source: Getty |
| | | Dixie is waving goodbye. After an emotional 13-hour debate, South Carolina's House of Representatives voted 94-20 to lower the Confederate battle flag from the Statehouse. Republican Jenny Horne, a descendant of Confederate President Jefferson Davis, said keeping the flag would be an insult to the Charleston massacre victims. Gov. Nikki Haley is expected to sign the bill into law, and the flag — often seen as a symbol of racism — could be taken down as early as this weekend. Washington Post, CBS, NYT |
| | Time's almost up. Prime Minister Alexis Tsipras has until the end of today to deliver promised "concrete proposals, credible reforms" to eurozone leaders in a bid to secure bailout funding and pull his country from the brink of despair. Athens wants a new three-year bailout, and the IMF seems amenable — but wants to see a commitment to restructuring Greece's debt and helping its economy recover. While Greek banks are expected to remain shut until Monday, finance ministers hope to recommend a loan for review at Sunday's summit. Reuters, FT (sub), BBC |
| | Give Beijing props. Measures to stem stock sell-offs may be working, at least temporarily, reflected in rising shares today. The Shanghai Composite had its best single day since 2009, gaining 5.8 percent, and the Shenzhen index lifted 3.8 percent. While the government is promising "abundant liquidity" to keep an even keel, fears persist that the downturn could resume, with speculation focusing on overvalued small firms that the government may not want to support. Economists are wary that dips will undermine consumer confidence and further slow China's growth. NYT, FT (sub) |
| | The market went down yesterday — technically speaking. Trading was temporarily suspended on the floor of the New York Stock Exchange for more than three hours, leaving traders staring at blank screens. The stoppage — an incredibly rare occurrence — oddly coincided with problems at United Airlines and The Wall Street Journal. The exchange cited an "internal technical issue," dismissing rumors of a cyberattack. And while many breathed a sigh of relief, it's bound to ignite debate on whether the tech behind today's financial infrastructure is too fragile. WSJ (sub), FT (sub) |
| BRIEFLY... Baltimore mayor fires Police Commissioner Anthony Batts. (WSJ) sub U.N.: Four million refugees have fled Syria since 2011. (Al Jazeera) Obama reportedly sees lowered chances for Iran deal. (USA Today) London commuters face Tube strike disruption. (BBC) Bill Clinton to lead Srebrenica delegation. (DW) |
| | | Is it high time to post selfies atop Japan's tallest mountain? As of tomorrow, Wi-Fi hotspots at eight locations, including the summit, will provide hikers with free connectivity. While tourists will no doubt delight in staying in touch throughout their climb, the move — prompted by requests from American and European visitors — aims to boost safety as well as tourism. Some are opposed to mixing nature with technology, but officials hope thousands will share their experiences on the 12,388-foot volcano and drive up foreign tourist numbers. TIME |
| | They won't call them Death Eaters. But you might hear debates about "death panels" again, now that Medicare, which insures 55 million Americans, is planning to reimburse physicians for end-of-life counseling. This would include chats about whether and how patients want to be kept alive if they become too ill to speak. The National Right to Life Committee opposes what it fears could lead to patients being pressured to halt treatment. But the new rules are expected to pass and take effect in January. Vox, NPR, Slate |
| | The man with the most famous wandering eye in news is again looking for work. The 56-year-old has previously left ESPN's Sportscenter, ESPN2, Current TV, Fox Sports and MSNBC. While his content, according to the network, was "extremely high quality," they've decided to call it a day, citing "creative differences." Known for razor-sharp sports quips and political punditry, Olbermann wraps up his eponymous ESPN2 show this month. With 2016 on the horizon, the outspoken talent might just return to his political roots. Huffington Post, BI, Boston Herald |
| | Business isn't humming along. The motoring giant is recalling nearly 200,000 of its older mega-SUVs, owing to electrical problems. Troubles have been linked to ventilation fan motors overheating, with 42 fires and three burns reported by customers. The recall affects H3s produced from 2006 to 2010 and H3Ts from 2009 and 2010. The Detroit-based firm — which is also recalling 51,000 Chevy Spark and Sonic car models over radio software problems — says dealers will carry out the Hummer repairs at no charge. Detroit Free Press |
| | Will Dallas rebound? The Clippers center verbally committed to the Mavericks last week, but he reneged last night, opting to stay in Los Angeles. Steve Ballmer and Jordan's teammates reportedly helped keep the Texan away from Dallas' representatives until he signed a four-year, $88 million contract. While there are no official rules preventing this, the move is netting plenty of criticism. But L.A. is looking ahead, giving flight to fans' dreams of reaching the playoffs again next year with a simple tweet: "We're officially centered." SI, USA Today |
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