FT News Briefing Monday, August 5
Aug 5, 2019
Tragic mass shootings in the U.S. raise pressing questions about gun control and domestic terrorism. Meanwhile, the economic crisis in Venezuela worsens as power outages and resource shortages plague citizens. The political standoff intensifies, with Maduro's grip on power being challenged by the opposition. Additionally, U.S. retailers warn that new tariffs may lead to increased layoffs, further impacting the labor market. A concerning look at Iran's oil trade amidst international sanctions adds to the complexity of these unfolding events.
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Weekend Mass Shootings
- Two mass shootings in El Paso and Dayton left dozens dead and injured over the weekend.
- The El Paso shooting is investigated as domestic terrorism and a hate crime, potentially influenced by white nationalism.
China Defies US Sanctions
- Chinese tankers, linked to China National Petroleum Corporation, are transporting Iranian oil to China, defying U.S. sanctions.
- This action has drawn scrutiny from Washington, which aims to block Iranian oil exports.
Retail Job Losses
- The retail industry lost 49,000 jobs since July 2017, due to the rise of e-commerce and store closures.
- New tariffs on Chinese imports threaten to worsen the situation, especially with the upcoming Christmas shopping season.