Bloomberg Morning Briefing Americas |
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Good morning. Israel and Iran intensify their attacks on each other. Donald Trump orders ICE to expand deportations. And concert ticket prices are falling for the first time in years. Listen to the day’s top stories. | |
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Israel and Iran continued to attack each other, as the conflict entered a fourth day without showing any sign of easing. Iran fired more waves of missiles, while Israel hit Tehran, killing another key military official, and attacked a giant gas field. The UN’s nuclear watchdog said Israeli strikes caused serious damage to Iran’s uranium conversion facility in Isfahan. And the US consulate in central Tel Aviv sustained minor damage after an Iranian missile landed nearby.
The tit-for-tat weighed on financial markets, but investors tempered their risk-off positioning. Oil pared its recent gains, although the market is still bracing for an escalation that may disrupt supply from the Middle East — it’s a region that produces about a third of the world’s crude. S&P 500 stock futures rose. Donald Trump vetoed an Israeli plan to kill Iran’s Supreme Leader Ayatollah Ali Khamenei, according to a US official. The president said it’s possible Israel and Iran could reach an agreement, but the two sides may need to continue fighting before they’re ready to broker a peace deal. Today, Trump is in Canada for the Group of Seven summit (a meeting he really doesn’t like), where leaders will try to avoid conflict with him and address the escalating tension in the Middle East. | |
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Trump ordered ICE to expand its migrant deportation efforts in the largest US cities, specifically naming New York, Chicago and Los Angeles, even as his administration looks to ease the impact of the crackdown on key workforce sectors. The move follows days of unrest in LA, while protestors rallied in hundreds of cities over the weekend to denounce what they called Trump’s authoritarian tendencies. Our Deep Dive below looks at how the immigration crackdown is hitting the care industry. The man suspected of killing Democratic state lawmaker Melissa Hortman and her husband, Mark, in Minnesota has been taken into custody. Vance L. Boelter was arrested Sunday after a manhunt that stretched more than a day. John Hoffman, a Minnesota state senator, and his wife, Yvette, were wounded in a separate shooting that was also linked to the suspect. | |
Deep Dive: Care Crisis Looms | |
Trump’s immigration crackdown is threatening the workforce behind one of America’s fastest-growing job sectors: home health and personal care aides. - Foreign-born people make up more than 40% of home health aides and nearly 30% of personal care employment, according to government data.
- Providers are sounding the alarm: facilities are losing workers, and some may be forced to cut services or stop admitting new residents when there is a dire need of more health-care workers.
- Nearly 1.5 million open positions remain unfilled in hospitals and nursing homes, with two-thirds of home care workers quitting within a year, according to a survey.
- With the sector already struggling to retain workers—many of whom earn low wages for demanding work—experts warn Trump’s policies may deepen a growing care crisis.
- And on a more existential level, Washington-based columnist Clive Crook notes that the crackdown and the resulting disorder raise questions about the US’s claim to be a nation of laws.
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The Big Take: Iran’s Leaders Face a Reckoning | |
Residents observe fire and smoke from an Israeli attack on the Shahran oil depot in Tehran on June 15. Source: Getty Images Israel is trying to exploit the Islamic Republic’s weaknesses to foment economic unrest and spark the overthrow of the clerical regime that’s ruled Iran for almost half a century. | |
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Check out our new weekly Business of Food newsletter for everything you need to know on how the world feeds itself, from farming to supply chains to consumer trends. | |
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US interest rates look like ever more of an outlier among developed nations, John Authers writes. But with inflation still lurking, the weakening dollar makes it easier for the Federal Reserve to stay put this week. | |
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