Reuters Daily Briefing by Kate Turton - 12 August 2924 - Elon Musk's embrace of the Republican candidate raises questions , sanctions haven't stopped billions reaching Russia, and France's "beautiful dream" fades as the Olympic Games give way to political deadlock.

 

Daily Briefing

By Kate Turton

Ahead of his interview with Donald Trump tonight, Elon Musk's embrace of the Republican candidate raises questions about his company Tesla's continued lobbying for government benefits. Meanwhile in Europe, sanctions haven't stopped billions reaching Russia, and France's "beautiful dream" fades as the Olympic Games give way to political deadlock.

Today's Top News   Ukrainian forces rammed through the Russian border early on Tuesday. REUTERS/Viacheslav Ratynskyi Ukraine and Russia at war Russia evacuated parts of a second region next to Ukraine after Kyiv sharply increased military activity near the border just days after its biggest incursion into sovereign Russian territory since the start of the 2022 war. Breaking News Lead Writer for Russia, Mark Trevelyan, tells Reuters World News podcast how Ukraine has changed the narrative of the war with this incursion - listen now. US news In endorsing Donald Trump for president, Elon Musk has backed a candidate who vows to immediately “end the electric vehicle mandate” and “drill, baby, drill.” Trump's promises directly contradict years of lobbying and policy priorities advocated by Musk’s EV giant, Tesla.  Mexican drug lord Ismael "El Mayo" Zambada was tricked by the son of Joaquin "El Chapo" Guzman and forced to board a plane bound for the United States last month, he said in a statement. In other news Israel expanded evacuation orders in Gaza after a deadly school strike over the weekend. But with UN officials saying there are no safe areas, where are Palestinians to go? Senior Correspondent Nidal al-Mughrabi has more on the Reuters World News podcast. Residents fled their homes as a fast-moving wildfire outside Athens fueled by hot, windy weather burned trees, houses and cars and sent smoke clouds over the Greek capital. A helicopter on an unauthorized flight crashed into the roof of a Hilton hotel in Australia's northern tourist town of Cairns, killing the pilot and forcing hundreds of guests to evacuate after a blaze, authorities said.

Paris Olympics 2024 The final medal count. Reuters Graphics Olympics news: Bhutan's marathon runner got a standing ovation for her last-place finish, and Tom Cruise handed Olympic flag to LA, and our best photography from behind the scenes at the games. More Olympics news

Business & Markets   Around $2.3 billion in dollar and euro bills have been shipped to Russia since the US and EU banned the export of their banknotes there in March 2022 following the invasion of Ukraine, according to customs data seen by Reuters. The bosses of Britain's biggest companies enjoyed record pay in 2023, with nine firms offering them packages of more than $12.75 million), as British workers argue for higher wages. If the US Federal Reserve does not start cutting interest rates relatively soon, US consumers could become dispirited, Bank of America CEO Brian Moynihan said. South Korean officials met to discuss electric vehicle safety and whether to require car firms to disclose battery brands amid growing consumer concern after an EV blaze in an underground garage extensively damaged an apartment block. Adani Group companies shed as much as $19 billion in market value but recovered much of the losses after Hindenburg Research accused the head of India's market regulator probing the group of having links to offshore funds also used by Adani.

France's 'beautiful dream' fades as Games give way to political crisis   Macron now needs to choose a prime minister that appeases all factions. Michel Euler/Pool via REUTERS/File Photo The Paris Olympics delivered a dazzling summertime success that charmed the world and reaffirmed French national pride. The hangover will be tough. With Sunday's closing ceremony drawing a line under the sporting spectacle, President Emmanuel Macron must now deal with a self-created political crisis that he swept under the carpet until the Games were over. Talks over government jobs and budget cuts loom - with voter anger sure to follow. Read more

And Finally... A bean and flowers grow on a cacao tree in a greenhouse in Rishon Lezion, Israel, July 22, 2024. REUTERS/Ricardo Moraes Farming can develop in mysterious ways. Israeli researchers learned about that when the war in Gaza seemed to have all but wrecked their work on a more resilient strain of the cocoa plant that could help alleviate a global shortage of the beans. Read more

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