A second wave of explosions rocked Lebanon. The Fed announced its first rate cut in four years. And the Justice Department sued a ship owner for $100 million over the Baltimore bridge collapse.
👋 Hey, Wednesday! Laura Davis here. Ready for the news? It’s ready for you. Let’s boogie.
But first: Did you catch the moon? 🤩 Sky-gazers were treated to a spectacular celestial sight as the supermoon coincided with a partial lunar eclipse. See stunning photos here.
Hezbollah hit with new wave of explosions
Hundreds more people were reported injured in Lebanon on Wednesday in what appeared to be a second wave of blasts involving communication devices used by Lebanon's Hezbollah group, according to reports.
What we know now: Lebanon's state-run National News Agency said the blasts involved walkie-talkies used by the group and pagers. Some of the explosions reportedly took place inside homes in Beirut and at least one happened at a funeral.
Coordinated blasts: At least nine people were reported killed and 300 injured in the latest attack, on top of the 12 dead and thousands hurt in blasts on Tuesday, which Hezbollah blamed on Israel's Mossad spy agency, suspected of planting small amounts of explosive material in Hezbollah pagers imported into Lebanon. 👉 See the latest updates.
Men carry a coffin as they walk past images of Mohammad Mahdi Ammar, son of Hezbollah member of the Lebanese parliament Ali Ammar, and Abbas Fadel Yassin, who were killed amid the detonation of pagers across Lebanon, during their funeral in Beirut, Lebanon. Mohamed Azakir, REUTERS
A hefty half-point rate cut
In the end, the Federal Reserve decided to go big. The Fed lowered its key interest rate by a hefty half percentage point Wednesday, moving ahead with its first rate cut in four years and cheering markets that expected an emphatic move amid a softening jobs picture. With the slowing labor market posing a growing risk to economic expansion, Fed officials opted for a bold approach to launch a projected flurry of rate cuts now that inflation is easing. But the central bank forecast a total of just a half point in additional cuts the rest of the year, signaling officials don’t believe the job market is collapsing. 💰 What impact will it have on your wallet? We break it down.
Many questions still remain after the doomed Titan submersible imploded 2 miles below the surface of the Atlantic Ocean on June 18, 2023, killing all 5 people aboard. On Thursday, hearings will resume into the implosion that captivated the world for four days before the Titan's tragic fate was revealed. Its wreckage was found on the ocean floor about 330 yards off the bow of the Titanic. The Coast Guard began two weeks of public hearings this week in North Charleston, South Carolina, aimed at finding out what went wrong. 🔎 What we know so far.
People inspect the Polar Prince ship and the deployment barge, used with the Titan submersible that imploded while carrying five people to explore the wreck of the sunken Titanic, at St. John's harbour, Newfoundland, Canada June 25, 2023. DAVID HISCOCK, REUTERS
Shipowner sued over deadly bridge collapse
The Department of Justice filed a $100 million lawsuit Wednesday against the owner of the Dali container ship, which rammed and toppled Baltimore’s Francis Scott Key Bridge in March, killing six people.
Breaking it down: The federal government spent $100 million in efforts along with numerous other agencies to remove the ship and the bridge remnants after the March 26 collapse and to reopen the Fort McHenry Shipping Channel in June, officials said. Federal officials said that the Dali's owner cut corners in ways that risked lives and the U.S. economy. 👉 What we know about the lawsuit.
A Coast Guard boat approaches clean-up operations at the Francis Scott Key Bridge as the main shipping channel prepares to fully reopen, in Baltimore, Maryland, on June 10, 2024. Evelyn Hockstein, REUTERS
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