ibt-mailAug 16, 2024, 9:51 AM

Biden, Harris Campaign Together For First Time Since Race Shakeup

Newsletter Aug 16, 2024 Quick Six Biden, Harris make first joint appearance since race shakeup At their first joint appearance since President Biden withdrew from the 2024 race, he and Vice President

Newsletter Aug 16, 2024

Quick Six

Biden, Harris make first joint appearance since race shakeup
At their first joint appearance since President Biden withdrew from the 2024 race, he and Vice President Kamala Harris focused on lowering prescription drug prices. The gathering highlighted their efforts to negotiate reduced costs for key Medicare medications, a move that aims to save enrollees $1.5 billion annually by 2026. The event showcased the Biden-Harris partnership, with the president praising Harris as a key player in their accomplishments while transitioning into the next phase of presidential campaign.
HOW BIDEN IS HANDLING HIS NEW ROLE IN THE CAMPAIGN

Big Pharma pushes back on first Medicare drug price cuts
Major pharmaceutical companies lashed out following a landmark deal unveiled Thursday to cut the costs of 10 key medicines, with some saying the price-setting process was not transparent. Their statements came after President Joe Biden and Vice President Kamala Harris announced a deal to lower costs of the first 10 drugs picked for Medicare price talks. The deal with drugmakers is set to save seniors in the US $1.5 billion in out-of-pocket costs.
PRICE CUTS ARE THE FIRST FOR MEDICARE IN 60 YEARS

US jobless claims drop again, easing concerns of recession
The US job market remains resilient, as unemployment claims fell last week, despite persistent economic challenges like high interest rates and inflation. Initial jobless claims decreased by 7,000 to 227,000, signaling that labor conditions remain stable even as concerns of an economic slowdown loom. This decrease marks the second consecutive week of declining jobless claims.
SEE HOW RETAIL SPENDING FARED DURING THE PERIOD

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* As of market close

Ukraine, Russia claim fresh territorial gains

Ukraine on Thursday claimed fresh territorial advances in its cross-border offensive into Russia, where it said it had seized over 1,000 square kilometers, the biggest attack by a foreign army on Russian soil since World War II. Russia said it had recaptured a first village from Ukrainian forces in the Kursk region and announced it was sending "additional forces" to the neighboring Belgorod region to counter more Ukrainian advances. Ukraine said it now controlled dozens of settlements and Sudzha, a town eight kilometers from the border.

WHY UKRAINIAN ADVANCES COULD FORCE RUSSIA TO TABLE

Mpox kills 548 in DRC, spreads to Sweden

The Democratic Republic of Congo said Thursday an mpox outbreak has killed 548 people there this year, as the first case outside Africa was recorded in a traveler in Sweden. The World Health Organization declared the mpox surge in Africa a global public health emergency, worried by the rise in cases in the DRC and the spread to nearby countries. DRC's Health Minister Samuel-Roger Kamba said in a video message that the country "has recorded 15,664 potential cases and 548 deaths since the beginning of the year", with all provinces affected.

HEALTH OFFICIALS ARE WORRIED ABOUT ANOTHER PANDEMIC

Hong Kong celebrates birth of panda twins

Hong Kong on Thursday announced the birth of a set of giant panda twins, the first cubs to be born in the city. Ying Ying who delivered the male and female cubs on the eve of her 19th birthday, has become the oldest giant panda to successfully give birth for the first time, the park housing the pandas in the Chinese-controlled city said. The cubs were born in the early hours of Thursday after a nearly five-month pregnancy.

WHY THE FIRST CUBS BORN IN HONG KONG IS SO SIGNIFICANT

Extra point

How much does the U.S. pay China each year to "rent" pandas?

Thursday's answer: If elected, JD Vance, who turned 40 on Aug. 2, would become the second-youngest US vice president behind Richard Nixon, who officially took office at the age of 40 years and 11 days.

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