Can the BRICS build something?

July 16, 2014 - Daily News Briefing

Brazil, Russia, India, China, and South Africa have issues with the US-led world economic order. Do they have an alternative?

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A typhoon slammed into the northeastern Philippines late Tuesday night, flooding low-lying villages, ripping off roofs and knocking down trees and electric posts in a disaster-prone region where tens of thousands of people fled to safety ahead of the deluge. The storm is the strongest typhoon to hit the country this year. The fast-moving typhoon made landfall in nearby Albay province while packing sustained winds of 80 miles per hour and gusts of up to 99 mph.

Federal Reserve Chair Janet Yellen said Tuesday that the economic recovery is not yet complete and for that reason the Fed intends to keep providing significant support to boost growth and improve labor market conditions. In delivering the Fed's semi-annual economic report to Congress, said the Fed's future actions will depend on how well the economy performs. She says if labor market conditions continue to improve more quickly than anticipated, the Fed could raise its key short-term interest rate sooner than currently projected. But she said weaker conditions will mean a longer period of low rates.

At a party 24 years in the making, hundreds of thousands of Germans showed their admiration and adoration for their World Cup winners at a victory parade to the Brandenburg Gate on Tuesday. The players, in matching black T-shirts bearing "1," lapped up the love by playing up to the estimated 400,000 people packing the "fan mile" in front of the Berlin landmark.

A long-shot effort to break California into six separate states got a boost on Monday, when the billionaire venture capitalist behind the proposal said he had gathered enough signatures to place it on the ballot in two years. Timothy Draper, a founder of a Silicon Valley-based venture capital firm that has invested in Twitter, Skype and Tesla, among other companies, has been agitating for months for a ballot initiative to chop the most populous US state into smaller entities.

A French soldier was killed in a suicide bombing in northern Mali, where local and foreign troops have struggled to restore order after quelling an Islamist insurgency last year, officials said. The Foreign Legion soldier, the ninth to die since France intervened in its former colony in January 2013, was killed in the northern city of Gao on Monday, the defense ministry said. France's intervention in the African country halted the advance of Al Qaeda-linked Islamists who had taken advantage of a Tuareg separatist uprising to occupy swathes of land in the north.

A suicide bomber blew up a car packed with explosives near a busy market and a mosque in eastern Afghanistan on Tuesday, killing 89 people and wounding more than 40 in one of the deadliest attacks since the 2001 US-led invasion. The attack in the town of Urgun in Paktika province brutally underscored the country's instability as foreign troops prepare to leave by the end of the year and feuding politicians in Kabul work to form a new government after a disputed presidential election.

Oscar Pistorius was in an altercation at an upmarket nightclub over the weekend, his family said Tuesday. Pistorius went with a cousin to a trendy Johannesburg nightclub on Saturday, where he was accosted by a man who aggressively questioned him about his murder trial, his family confirmed. The man gave a different version, saying the double-amputee runner was drunk, insulted his friends and the family of President Jacob Zuma and poked him in the chest, according to Johannesburg's Star newspaper.

Twenty-one people were killed on Tuesday and up to 150 injured when a Moscow underground train derailed between two stations during the morning rush hour, the Emergencies Ministry said. Russia's investigative committee said it was looking into the causes of the accident. It said, however, there was no suspicion of a militant attack, the cause for scores of deaths in Moscow's underground in years past.

“The object of the Monitor is to injure no man, but to bless all mankind.” – Mary Baker Eddy

The Daily News Briefing is published Monday through Friday by The Christian Science Publishing Society in Boston, Massachusetts.

“The object of the Monitor is to injure no man, but to bless all mankind.” – Mary Baker Eddy

The Daily News Briefing is published Monday through Friday by The Christian Science Publishing Society in Boston, Massachusetts.

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