FirstFT: Liz Cheney loses primary as purge of Trump critics continues
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Hello. “I fully understand the potential political consequences of upholding my duty,” Liz Cheney said in her concession speech last night after losing her House of Representatives seat to a Trump-endorsed challenger.
Cheney, who was Wyoming’s only member of Congress, paid the price for leading the Republican charge against Donald Trump. At the end of a fierce duel between two former allies, Cheney came in 37 points behind Harriet Hageman with 95% of the reports from the precinct. Hageman’s victory – which echoed Trump’s denial of the 2020 election results – reignited talk of his running for president again in 2024.
Cheney’s career has been in jeopardy since becoming vice chair of the House panel investigating the Jan. 6 attack on the US Congress and whether Trump played a role in its activation. A panel adviser said the daughter of former Vice President Dick Cheney had been “the star of the show,” even though the political consequences of her turn against Trump included his ousting from the Wyoming Republican Party – and now, the loss of his seat.
She joins a slew of Trump critics who have been snubbed in their attempts to win the Republican primaries. South Carolina’s Tom Rice, Washington’s Jaime Herrera Beutler and Michigan’s Peter Meijer – all of whom voted to impeach Trump for his conduct on Jan. 6 – lost their seats to candidates endorsed by the former president. How will US Attorney General Merrick Garland fare to take on Trump?
Thanks for reading FirstFT Americas — Georgina
Five other stories in the news
1. Bolsonaro relies on evangelical Christians in Brazil to keep the faith
At large-scale Christian rallies across the country in recent weeks, Jair Bolsonaro – a Catholic – has reinforced his radical, offensive message against abortion, drugs, ‘gender ideology’ and playing on public fears concerning a return to power from the left.
2. U.S. Climate Act solar and wind boom applause dimmed by cost and permitting issues Obstacles to Joe Biden’s landmark climate, tax and spending law range from tariffs and import controls that drive up the cost of solar panels to state land use laws over which the federal government has no control.
3. Tensions in Taiwan force multinationals to rethink Chinese risk Multinational companies are drawing up contingency plans for a US-China military conflict after Beijing launched an unprecedented series of drills around Taiwan this month. Some US companies are considering moving part of their operations out of China, threatening economic ties between the superpowers.
4. Odinga rejects defeat in Kenyan presidential election Presidential candidate Raila Odinga is taking legal action to contest Vice President William Ruto’s narrow victory, as fears of violence grow following scuffles at the National Counting Center. Odinga has until Monday to file a challenge.
Opinion: The president-elect ran on bread and butter but must now try to rally restless young people, writes Zeinab Badawi of the Commonwealth Observer Group.
5. China’s Huarong issues profit warning on property sector woes Credit impairments ‘increased significantly’ in the first six months of the year, China Huarong Asset Management said in a filing late yesterday, as it warned of a net loss of 18.9 million of Rmb ($2.8 million) for the first half of 2022.
The day ahead
NATO Secretary General in talks with Kosovo and Serbia NATO Secretary General Jens Stoltenberg will meet Kosovo Prime Minister Albin Kurti and Serbian President Aleksandar Vučić separately in Brussels amid growing concern over a potential conflict. Kurti and Vučić will meet tomorrow with the diplomatic branch of the EU.
NASA will livestream the transfer of the rocket to the launch pad The US space agency will livestream the transfer of its Artemis 1 rocket to the launch pad, aiming to lift off this month. It’s part of a mission to land the first female and ethnic minority astronaut on the Moon and prepare for a long-term lunar presence that could be a stepping stone to sending humans to Mars. (Nasa)
Economic data In the U.S., minutes from the Federal Reserve’s latest meeting could provide a glimpse of future monetary policy tightening, as economists expect retail spending to have slowed in July (FT, Reuters, WSJ) . Fed Governor Michelle Bowman will deliver two speeches today in Arkansas. Monthly US retail sales data will be released this morning. A drop in gasoline prices likely weighed on sales in July, with economists forecasting a 0.1% rise from the previous month.
business profits Target is expected to post a 3% increase in revenue to $26 billion in the second quarter, according to analysts polled by Refinitiv. Investors will be interested to see how consumer spending has held up, after the company cut its profit outlook for the second time in less than a month, warning of a slowdown in discretionary spending due to inflation. Companies that must also report include Cisco Systems, Santos and Tencent.
Retailer TJX, Lowe’s and donut maker Krispy Kreme report before the bell today. Retailer Bath & Body Works reports after the bell.
In the air: Dubai International Airport, the world’s busiest for international passenger traffic, records passenger traffic for the first half of the year.
What else we read
Neighborhood apps are great but IRL is better At the height of the pandemic, usage of the Nextdoor online forum increased by 80% globally. But only online interactions are missing something important, says Cristina Criddle.
The reinvention of Goldman Sachs: what did David Solomon achieve? After nearly four years at the helm, chief executive David Solomon’s strategy to diversify the U.S. bank hasn’t been as transformative as many had hoped, despite investing billions of dollars in ventures such as the bank of consumption. Now analysts are wondering if the only way for Solomon to change Goldman is through acquisition.
Attack on Salman Rushdie highlights threats to free speech Until last weekend’s attack, it was tempting to believe that “the Rushdie affair” was relegated to the past. The fatwa against the satanic verses author was published more than three decades ago. But the attack underscored the need to defend freedom of expression even more vehemently, writes our editorial staff.
Heathrow’s desperation is its fake helplessness ‘Hopeless Heathrow’ is what Ryanair boss Michael O’Leary dubbed the airport yesterday when he extended the summer cap on passenger numbers until halfway through October. But most of the industry’s damage will come from airlines’ self-inflicted capacity cuts, writes Cat Rutter Pooley.
Anshu Jain, banker, 1963-2022 The first non-white, non-German to run Deutsche Bank was known for his tough charging style. Anshu Jain spearheaded the bank’s bid to take over Wall Street and faced cancer the way he faced professional challenges: analyzing the problem, trying to solve it, then moving forward. He died on Friday.
Toronto is not famous for its architecture, unlike Chicago or Barcelona. But the laid-back Canadian town is home to a number of stunning, understated buildings that will surprise and delight. Our Toronto architectural guide takes you on a tour of public utility Art Deco beauty to a groovy modernist maze.
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