Morning Wire Apartment Collapse In Iowa, Debt Deal & Target Troubles | Afternoon Update | 5.29.23
May 29, 2023
Tragedy strikes with an apartment collapse in Iowa, sparking urgent rescue efforts. In political news, a crucial debt ceiling agreement is reached, bringing relief to the nation. Meanwhile, Target faces backlash and financial challenges linked to its LGBTQ pride displays. On the judicial front, victims' families in Idaho advocate for the death penalty, while Texas Attorney General Ken Paxton faces impeachment. Lastly, Turkey celebrates President Erdogan's re-election victory, adding to the global political landscape.
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Apartment Collapse in Iowa
- An apartment building partially collapsed in Davenport, Iowa, prompting a search and rescue operation.
- Witnesses reported screams, cries for help, and water leaking from under doors.
Debt Ceiling Deal
- President Biden and House Speaker McCarthy reached a deal to raise the debt ceiling, avoiding a potential default.
- The deal includes spending cuts and increased work requirements for food stamp recipients.
Target Backlash
- Target has lost $10 billion in market value due to backlash over LGBTQ pride displays.
- The stock price dropped to under $140 per share, a 14% decrease.