Friday morning news: July 29, 2022

For WORLD Radio, I'm Paul Butler. 

Kentucky floods » In Kentucky, flash floods killed several people and forced many to their roofs Thursday.

Here’s Flo Harris, Kentucky resident,

HARRIS: It’s pretty scary, and knowing that there’s nothing you can do about it. So what do you do? You stand there and watch it and pray that the Lord will take care of everybody.

Kentucky Governor Andy Beshear said this is some of the worst flooding in the state’s history. Hundreds will likely lose their homes. He’s announced a state of emergency and called the National Guard.

BESHEAR: We’re currently experiencing one of the worst most devastating flooding events in Kentucky’s history.

As much as six inches of rain has fallen in some parts of Kentucky, West Virginia and Virginia and the National Weather Service said about three more inches are likely.

GDP report bleak, Meta revenue down » The U.S. economy is sinking toward a recession. The Commerce Department reported Thursday that the U.S. gross domestic product has fallen for a second straight quarter. That’s one informal, but not decisive, indicator of a recession.

Inflation has consumers buying less…

AUDIO: I notice, like, I go and try to get milk and like even a half gallon of milk, it's hard to find for under $8, which is really hard.

But President Biden countered recession fears by pointing to economic positives.

BIDEN: If you look at our job market consumer spending business investment we see signs of economic progress in the second quarter as well.

Facebook reported its first ever revenue loss this quarter. Twitter and Snap—also reported second-quarter letdowns.

Biden/Xi follow up » President Biden spoke with Chinese leader Xi Jinping for over two hours on Thursday. WORLD’s Josh Schumacher has more.

JOSH SCHUMACHER, REPORTER: China’s state media reported that the two leaders had—quote—“in-depth communication on U.S.-China relations and issues of mutual concern.”

The morning conversation comes after China threatened a forceful response to House Speaker Nancy Pelosi’s possible visit to Taiwan.

Elsewhere in the Pacific: Kim Jong Un has threatened to use nuclear weapons if war breaks out against the U.S. or South Korea.

Reporting for WORLD, I’m Josh Schumacher.

Ukraine grain exports update » AUDIO: [Odessa port]

As the war between Russia and Ukraine drags on, ships are sitting idle in three Black Sea ports waiting to export 22 million tons of grain. That even after Russia said it would allow the ships safe passage out of the port in Odessa for 120 days.

Guy Platten, the secretary general of the International Chamber of Shipping, says security is a concern.

PLATTEN: You know, we need to ensure that the safety of the crew are paramount in getting the ships out.

Underwater mines populate the waters outside the ports and Russian missiles struck the port only hours after the two governments signed the agreement last Friday.

Airline merger » JetBlue Airways announced Thursday that it will buy Spirit Airlines if antitrust regulators OK it. WORLD’s Mary Muncy has more.

MARY MUNCY, REPORTER: A merger between Spirit and a different airline, Frontier, fell through on Wednesday, but by Thursday, JetBlue had agreed to buy Spirit for almost $4 billion.

The deal would put JetBlue fifth behind the big four airlines—American, United, Delta, and Southwest.

The big four control about 80 percent of the U.S. market, so—a JetBlue spokesman said—buying Spirit would increase competition.

But groups like the anti-merger American Economic Liberties Project say it could raise other budget airlines’ prices.

Reporting for WORLD, I’m Mary Muncy.

Gun profits » Five major gun manufacturers made a combined $1 billion on semiautomatic, AR-15-style weapons in the last decade. That, according to a Congressional investigation released Wednesday.

Representative Carolyn Maloney of New York says the firearms companies used questionable marketing tactics. But Representative James Comer of Kentucky says the firearm industry has done nothing wrong.

COMER: Their customers are allowed to lawfully buy guns their customers are allowed to exercise their Second Amendment right.

Semiautomatic rifles have been used in several recent high-profile mass shootings—including in Buffalo, New York, and in Uvalde, Texas.

I’m Paul Butler. For more news, features, and analysis, visit us at wng.org. 

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