What you Need to Know Today


Brought by REUTERS-by Linda Noakes

Here's what you need to know.



 
Fed officials say more rate hikes are needed, Europe swelters in another heatwave, and the Antarctic ice shelf is crumbling faster than thought

Today's biggest stories

A satellite image shows the destroyed Saky air base in Crimea, August 10, 2022. Planet Labs PBC/Handout via REUTERS

WORLD


Satellite pictures showed devastation at a Russian air base in Crimea, hit earlier this week in an attack that suggested Kyiv may have obtained new long-range strike capability with potential to change the course of the war. Here's what you need to know about the conflict right now.

China and South Korea clashed over a U.S. missile defense shield, threatening to undermine efforts by the new government in Seoul to overcome longstanding security differences. The disagreement over the Terminal High Altitude Area Defence system installed in South Korea emerged after an apparently smooth first visit to China by South Korea's foreign minister this week.

Two days after Kenya's general election, officials had yet to announce who is leading the presidential race in East Africa's regional powerhouse, as confused citizens struggled to make sense of divergent tallies from the media in a nail-bitingly close race.

A four-day "extreme heat" warning came into force in parts of England and Wales, with temperatures poised to top 35 Celsius in another heatwave that could cause wildfires and pressure water supplies and transport services. In France, more than 1,000 firefighters backed by water-bombing aircraft battled a "monster" wildfire near the wine-growing heartland of Bordeaux for a third day.

Antarctica's coastal glaciers are shedding icebergs more rapidly than nature can replenish the crumbling ice, doubling previous estimates of losses from the world's largest ice sheet over the past 25 years, a satellite analysis showed.

Former President Donald Trump departs Trump Tower in New York City, August 10, 2022. REUTERS/David 'Dee' Delgado

U.S.

Former President Donald Trump said he declined to answer questions during an appearance before New York state's attorney general in a civil investigation into his family's business practices, citing his constitutional right against self-incrimination.

A former Virginia police sergeant who joined Donald Trump's supporters in storming the Capitol could be sentenced to up to eight years in prison today if a judge agrees with federal prosecutors' recommendation.

A Wyoming judge blocked the state's near-total ban on abortion from taking effect while doctors, a clinic operator and others sue to invalidate the law.

Muslims in New Mexico said they felt shock and shame at the arrest of a Muslim immigrant from Afghanistan in connection with the murders of four Muslim men. A motive for the killings remains unclear, but police said 51-year-old Muhammad Syed may have acted on personal grudges, possibly with intra-Muslim sectarian overtones.

New York City could introduce a traffic congestion charge of up to $23 a daylate next year, which a study projected would reduce the number of cars entering Manhattan by 15% to 20%.

BUSINESS

The average price of U.S. retail gasoline fell below $4 per gallon for the first time in months, giving some relief to drivers in the world's largest consumer of the fuel. Slowing U.S. inflation may have opened the door for the Federal Reserve to temper the pace of coming interest rate hikes, but policymakers left no doubt they will continue to tighten monetary policy until price pressures are fully broken.

China's war games around Taiwan have led Biden administration officials to recalibrate their thinking on whether to scrap some tariffs or potentially impose others on Beijing, setting those options aside for now, according to sources familiar with the deliberations.

Walt Disney edged past Netflix with a total of 221 million streaming customers and announced it will increase prices for customers who want to watch Disney+ or Hulu without commercials. Disney shares rose 6.9% in after-hours trading.

Siemens said it continued to see strong industrial demand during its third quarter, as costs related to its Siemens Energy investment and decision to quit Russia pushed the engineering group into the red for the first time in nearly 12 years.

Elon Musk's legal team is demanding that Twitter turn over the names of employees responsible for calculating what percentage of the social media site's users are bot and spam accounts, according to a source familiar with the matter.

Quote of the day

"There is panic among people in Africa after the pandemic, the war in Ukraine and the inflation, because they are very dependent on food from outside. I fear many more are going to take the risk."

Sukeina Ndiaye

A leader of a migrant support network in Tenerife

African migrants aim for Spain's Canary Islands

Video of the day

French freediver breaks world record

Arnaud Jerald broke the deepest dive world record in The Bahamas as he descended to a depth of 120 meters in bi-fins.

And finally…

What's in a name? Making an invasive fish more palatable

Illinois is rebranding an invasive carp in the hopes of encouraging people to eat it - and solving a decades-old issue that has been threatening the ecosystem of the U.S. state's waterways.

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