The U.S. Supreme Court upholds birthright citizenship in a blow to President Donald Trump’s agenda. Financial disclosures show he earned more than $1.4 billion from his family’s crypto ventures last year. Volatility in the U.S. tech sector fuels fears of a bubble. Millions of seniors get $50 weight loss drugs under a new Medicare plan. The FBI says ransom notes linked to the disappearance of Savannah Guthrie’s mother are fake. Thousands march across South Africa demanding migrants leave the country. And Serena Williams’ Wimbledon comeback fizzles out. Listen to the Morning Bid podcast ⁠⁠here⁠⁠. Sign up for the Reuters Econ World newsletter ⁠⁠here⁠⁠. Listen to the Reuters Econ World podcast ⁠⁠here⁠⁠. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

Birthright citizenship, Trump’s crypto haul, Serena Williams and Medicare

Reuters World News 

Hi, I'm Kim Vanell in Whanganui, New Zealand. It's Wednesday, July 1st. Today, the Supreme Court deals a blow to Trump and upholds birthright citizenship, but allows a ban on transgender athletes in women's sports. Medicare starts to test whether it's cost-effective to offer seniors cheap weight loss drugs. And Serena Williams' Wimbledon comeback fail.

This is Reuters World News, bringing you everything you need to know from the front lines in 10 minutes, 7 days a week. The U.S. Supreme Court has delivered a major blow to President Donald Trump, rejecting his effort to restrict birthright citizenship.

In a 6-3 decision, the justices reaffirm a core promise of the 14th Amendment. If you're born in the United States, you're a citizen. The court says Trump's executive order, targeting children born to non-citizen parents, defies more than a century of precedent, including an 1898 landmark ruling. White House reporter Jacob Bogage says this was more than just a legal test.

It was a central piece of Trump's immigration agenda, one that could have reshaped the legal status of hundreds of thousands of babies every year. On the whole, the majority found this was a pretty open and shut case. People born in the U.S. are citizens of the U.S. And Justice Jackson writes in her opinion that rethinking the citizenship clause of the 14th Amendment would have returned the United States to the era of Dren Scott,

in which all people born here wouldn't necessarily be citizens.

Trump called the ruling too bad for our country and immediately pivoted, vowing to push Congress to end birthright citizenship through legislation. The Supreme Court also ruled on two major cases with big implications for this year's midterm elections.

Birthright citizenship, Trump’s crypto haul, Serena Williams and Medicare

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Birthright citizenship, Trump’s crypto haul, Serena Williams and Medicare

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.