Middle East: The U.S. State Department has issued a warning to U.S. citizens in Israel not to travel outside of that country’s major cities in view of a possible Iranian attack on Israel. The Iranians are believed to be preparing an attack on Israel in retaliation for Israel having attacked Iran’s Embassy in Damascus, the capital of Syria. There are fears that if Iran does attack Israel the Israelis would not only strike back but also intensify the war against Hamas in Gaza.
Student loans: The White House said this morning that the Biden Administration is canceling another $7.4 billion in student loans. The debt relief would benefit 277,000 people who have been carrying student loans. So far, the administration has canceled about $153 billion in loans owed by 4.3 million people. Republicans accuse Biden of not honoring a Supreme Court decision that rejected his original student loan forgiveness program. Biden has been using executive action and Department of Eduction regulations to offer loan relief.
Arizona: Vice President Kamala Harris is using her visit to Tucson, Arizona, today to focus attention on the action by Republicans in the state’s legislature that blocked an attempt to eliminate a 1864 law prohibiting abortions and mandating a prison sentence of up to five years for anyone involved in helping a woman obtain her such reproductive health care. “We all must understand who is to blame: It is the former president, Donald Trump,” Harris says in prepared remarks. She says a second Trump term would result in “more bans, more suffering, less freedom.” Harris predicts the American people are not going to let that happen.
Death sentence: The woman who heads a Vietnamese real estate development company and was convicted of running a $12 billion scam involving bribery and embezzlement has been sentenced to death by a court in Ho Chi Minh City. Lawyers for Troung My Lan said they will appeal the verdict and sentence. They point out that dozens of other people who were charged in the case have received lesser sentences.
JPMorgan Chase financials: JPMorgan Chase today reported first quarter income for 2024 of $13.4 billion, on revenues of $41.9 billion. Jamie Dimon, chairman and CEO of JPMorgan Chase, said, “Our lines of business saw strong underlying performance. Many economic indicators continue to be favorable.” Dimon said that there are uncertainties including the global landscape being unsettled with wars and violence, inflation continuing, and the effects of higher interest rates.
Flights: Leaders in the U.S. airline industry have written a letter to Secretary of Transportation Pete Buttigieg and Secretary of State Antony Blinken asking that the U.S. block any expansion of flights between the U.S. and China. They claim that the Chinese have imposed restrictions on U.S. airlines that are designed to give the Chinese a competitive edge. They point out that Chinese airlines are controlled by the government and that Chinese flights are allowed to go through Russian airspace, which reduces the number of miles that must be flown, thus adding to Chinese profits.
