Your Evening Briefing
Good afternoon. The Graham-Cassidy proposal to repeal Obamacare stalled today. Another Equifax executive exited the company. And, the U.S. ratcheted up pressure on North Korea. –Emily Banks
Senate Republicans gave up their last-ditch proposal to repeal Obamacare as opposition in their ranks ended months of fruitless efforts. "We’ve made the decision, since we don’t have the votes, we’ll postpone that vote," bill co-sponsor Bill Cassidy told reporters. While House Republicans passed a bill in May and celebrated at the White House Rose Garden, their measure wasn’t acceptable to the Senate, which has been unable to agree on a plan of its own.
Equifax's CEO stepped down in the wake of the theft of 143 million Americans' private data. Richard Smith joins other senior managers who have left the credit-reporting company. “The cybersecurity incident has affected millions of consumers, and I have been completely dedicated to making this right,” he said in a statement. Smith will be replaced on an interim basis by a seven-year company veteran.
North Korea may struggle to shoot U.S. bombers out of the sky. North Korea said it would be within its rights to shoot down U.S. warplanes in international airspace. But it would face a few major obstacles. President Trump said the U.S. is prepared to use “devastating” military force but encouraged the world to work together to end the country’s nuclear program, as he imposed new sanctions on the country’s banks.
A crypto fund king says bitcoin will be the biggest bubble ever. The swaggering macro manager who flamed out at Fortress Investment is starting a $500 million hedge fund to invest in cryptocurrencies, initial coin offerings and related companies. “This is going to be the largest bubble of our lifetimes,” Mike Novogratz said. “Prices are going to get way ahead of where they should be. You can make a whole lot of money on the way up, and we plan on it.”
Ireland topped the U.S. as the country best able to feed its people. For the first time, the U.S. dropped from the No. 1 spot, as concerns about agricultural research spending and government policy trends may make the world’s top food exporter a less-certain place to get a meal. Worldwide, food security fell for the first time in five years, largely because of increases in the number of refugees, weather disasters and a decline in global political stability.
NCAA coaches and staff were charged in a kickback scandal. Top-tier college basketball programs were thrown into turmoil Tuesday as federal prosecutors unveiled criminal charges against 10 coaches, managers, financial advisers and representatives of sportswear companies including Adidas, accusing them of making illicit payments to cash in on the vast riches generated at the sport’s highest levels.
Willie Geist is an expert at taking an airport bathroom “sink bath.” The Morning Joe and Today show host has some advice for traveling, including how to keep a suit from getting wrinkled on a plane and how to make people treat you as if you're in first class. "More than a few people in this country have seen me in an airport bathroom pulling myself together and changing my clothes in a stall," he said.