Monday, August 11

Headlines



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Milwaukee hit with flash floods as Midwest experiences major storms. The flash flooding on Saturday led to the city receiving 5.74 inches of rain within hours, prompting it to declare a state of emergency and forcing the Wisconsin State Fair to shut down a day and a half early. The chief of the Milwaukee fire department said dozens of people had been rescued from cars. Significant power outages and property damage were reported. Last night, the National Weather Service warned of “repeated rounds of heavy rain” across the Midwest, Central Plains, and Southwest throughout the day today.

Netanyahu said new military offensive will be wider than first announced. Yesterday, the Israeli prime minister clarified that his security Cabinet authorized attacking “central camps,” which the UN says are housing 500,000 displaced people, and Muwasi, in addition to Gaza City, which was announced last week. He defended the action as necessary to “finish the job.” Also yesterday, five Al Jazeera journalists were killed in an Israeli strike near Gaza City’s Al-Shifa Hospital, including reporters Anas al-Sharif and Mohammed Qreiqeh and three cameramen, who were in a tent for journalists near the hospital’s main gate when it was struck. The Israel Defense Forces said it had targeted al-Sharif, whom it described as “the head of a terrorist cell in Hamas,” allegations that al-Sharif and Al Jazeera previously denied.

Automakers are mostly footing tariff costs. President Trump’s new trade policies have had almost no impact on the price of new cars to date, the New York Times reported, but industry players and analysts are preparing for that to change. Lenny LaRoca, a partner at accounting firm KPMG, said that he believes carmakers will try to focus on cost-cutting for as long as possible, but that he expects prices will start to rise early next year. Tariffs affecting autos and auto parts have already led to losses of $12 billion for the global auto market, the worst since Covid. In response to the global pressure, HÃ¥kan Samuelsson, CEO of Volvo Cars, said earlier this year that he believed that the manufacturing of cars would become “a bit more regionalized.”—HVL


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