From the BBC World Service: Lesotho has declared a national state of disaster that will last for two years. The government says soaring youth unemployment and job losses have pushed the small, mountainous country into crisis, and it's bracing for things to get worse with U.S. tariffs and aid cuts announced by President Donald Trump. Plus, a growing number of countries are stepping in with new laws to make sure cash payments don't disappear.
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7:08
Supreme Court green lights Trump's federal layoff plans
The high court has cleared the way for the Trump administration to plan out mass layoffs across the government. It's somewhat of a confounding decision, though, in that it appears to say two things at once: the job cuts can proceed, but they may or may not be legal. We'll discuss the implications. And later: Investors take a wait-and-see approach on tariffs, copper futures hit an all-time high, and teachers ramp up their AI skills.
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Public infrastructure investments and Texas' deadly flooding
More than 100 people are dead and 170 are still missing in Texas, where, on July Fourth, the Guadalupe River in Kerrville rose more than 30 feet in five hours. Staff shortages at the National Weather Service may have made it harder to coordinate a response, and Texas lawmakers are now reconsidering a bill to improve local governments’ emergency communications infrastructure. Also: the economics of rebuilding wildfire-burnt homes with fire-resistant steel framing.
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7:18
British farmers warn trade deals could threaten livelihoods
From the BBC World Service: England's biggest agricultural show has started, but away from the sheep shearing competitions and livestock judging, farmers are talking about international trade — and they’re adamant about not giving ground in any future negotiations. Plus, the U.K. government is capping tax relief on farmland passed down through generations. And, we hear from a Scottish sheep farmer with more than 400,000 followers on YouTube about how merchandise tie-ins are supporting his business.
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Food banks and resilience amid SNAP cuts
Among the spending cuts in the big tax bill signed into law by President Donald Trump last week: $186 billion over the next decade to the Supplemental Nutrition Assistance Program, also known as food stamps. Community food banks are already strained. Now, many worry whether they'll be able to keep up. Also on the program: Delta tries to crack the "last mile" in parcel delivery, and new tariffs could hit in three and a half weeks.
In less than 10 minutes, we'll get you up to speed on all the news you missed overnight. Throughout the morning, Marketplace's David Brancaccio will bring you the latest business and economic stories you need to know to start your day. And before U.S. markets open, you'll get a global markets update from the BBC World Service in London.
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