Friday Briefing: Biden budget to put price tag on policy priorities

The Reuters Daily Briefing Friday, May 28, 2021 by Linda Noakes Hello Here's what you need to know. A grim milestone in South Asia, Britain's battleship diplomacy, and Switzerland thinks the unthinkable Today's biggest stories U.S. President Joe Biden eats an ice-cream during a visit to Cleveland, Ohio, May 27, 2021. REUTERS/Evelyn Hockstein U.S. The White House will today lay out President Joe Biden's budget for trillions of dollars in spending on infrastructure, education and other initiatives, but the plan is unlikely to sway Republicans who want to tamp down U.S. government spending. With coronavirus cases plummeting and 1.8 million U.S. residents getting vaccinated each day, more Americans plan this upcoming Memorial Day weekend to get back to old pleasures. They will also encounter something new and less pleasant: rising prices. California will offer $116.5 million in cash and gift cards to residents who get COVID-19 vaccinations before June 15, the latest - and most lucrative - incentive by U.S. states desperate to persuade laggards and vaccine-skeptics to get the injection. The Pennsylvania Parole Board has turned down comedian Bill Cosby's petition to be released from a 10-year prison sentence for aggravated indecent assault, citing his refusal to participate in a therapy program for sexually violent predators. Supporters of Syria's President Bashar al-Assad celebrate before the results of the presidential election in Damascus, May 27, 2021. REUTERS/Omar Sanadiki WORLD Syrian President Bashar al-Assad won a fourth term in office with 95.1% of the votes in an election that will extend his rule over a country ruined by war but which opponents and the West say was marked by fraud. Coronavirus infections in the South Asia region have surpassed 30 million, according to a Reuters tally of official data, led by India which is struggling with a second COVID-19 wave and a vaccine shortage across the region. Meanwhile, Japan extended its state of emergency less than two months before the Olympics. Germany apologized for its role in the slaughter of Herero and Nama tribespeople in Namibia more than a century ago and officially described the massacre as genocide for the first time, as it agreed to fund projects worth over a billion euros. The maiden voyage of a new British aircraft carrier will seek to show allies that post-Brexit Britain is ready to defend Western interests and eager to see China respect international rules, the vessel's commander says. BUSINESS Bitcoin slumped to its lowest this week, taking losses sparked by a growing crackdown in China and environmental concerns to almost 40% so far this month. The group behind the SolarWinds cyber attack identified late last year is now targeting government agencies, think tanks, consultants, and non-governmental organizations, Microsoft says. Exxon Mobil's U.S. oil refineries pump out far more lung-damaging soot than similarly-sized facilities operated by rivals, according to regulatory documents and a Reuters analysis of pollution test results. Meanwhile, Big Oil may get more climate lawsuits after Shell ruling. Exasperation with Credit Suisse following a string of scandals is prompting Switzerland to rethink a system in which top bankers have been largely untouchable. Heavy losses and the decimation of billions of client investments have triggered a rare discussion about fining bankers. Quote of the day "Let's get down to basics here. Many of the Republican members are afraid of the man who incited this" Dick Durbin The Senate's No. 2 Democrat U.S. Senate argues over Capitol riot probe in marathon session Video of the day The most refined picnic ever? Rolls-Royce has unveiled a convertible car with a back deck that opens up to reveal cocktail tables, fridges for champagne and a parasol. And finally… Cicadas make their Olympic debut in miniature art scenes The appearance of the insects known as Brood X along the eastern United States after a 17-year hiatus has inspired Virginia professional portrait photographer Oxana Ware to create small-scale art installations. More from Reuters COVID-19 Investigations Breakingviews Legal News Thanks for spending part of your day with us. Share your thoughts You are receiving this email because you signed up for newsletters from Reuters. No longer want to hear from us? Unsubscribe from The Reuters Daily Briefing. Terms, conditions, and privacy statement © 2021 Thomson Reuters. All rights reserved. 3 Times Square, New York, NY 10036