News Wrap: Court fast-tracks TikTok’s legal battle against potential ban

Amna Nawaz:

President Joe Biden will be formally nominated as the Democratic Party's presidential nominee through a virtual roll call. That's instead of the usual process, which takes place at the party's convention.

This year's Democratic National Convention is scheduled to start on August 19, which comes after Ohio's ballot deadline. In a statement, DNC Chair Jaime Harrison said that this plan will ensure that — quote — "Ohioans can exercise their right to vote for the presidential candidate of their choice."

The Treasury Department is easing some financial restrictions on Cuba in an effort to boost the island nation's private sector. One of the biggest changes would allow Cuban entrepreneurs to open U.S. bank accounts and access them online.

A senior U.S. official told reporters today — quote — "We're taking an important step to support the expansion of free enterprise and the expansion of the entrepreneurial business sector in Cuba." Cuban officials have said there are about 11,000 private businesses in Cuba, accounting for roughly one-third of the island's employment.

Violence storms swept through North Texas this morning, leaving more than one million businesses and homes without power. In Dallas, strong winds blew the roof off a hardware store and toppled trees, crushing cars and blocking streets. Golf-ball-sized hail pummeled the area late yesterday. It follows a weekend of deadly weather that killed at least 25 people across seven states.

White House officials said today that the FEMA administrator will visit hard-hit Arkansas tomorrow to assess the damage.

Karine Jean-Pierre, White House Press Secretary:

The federal government stands ready to support as needed. As we turn towards recovery, we urge residents in the affected areas to remain vigilant and continue listening to state and local officials. We also want to encourage everyone nationwide to prepare now for potential severe weather in your area.

Amna Nawaz:

The extreme weather in Texas has also affected the state's primary voting today. Roughly 100 voting sites in Dallas County were knocked offline due to power outages.

A U.S. appeals court has fast-tracked the timeline for TikTok's legal battle against the U.S. Justice Department. The social media app is challenging a law requiring its Chinese parent company, ByteDance, to divest its U.S. assets by January of next year or face a ban. The court set oral arguments for September, after a group of TikTok creators joined TikTok and the DOJ in asking the court to expedite the process.

Turning overseas, Belgium committed $1 billion in military aid to Ukraine a day after Spain pledged the same amount. Ukrainian President Volodymyr Zelenskyy sealed the deal in Brussels today, where he toured an air base. As part of its pledge, Belgium will send 30 F-16 fighter jets to Kyiv.

In the meantime, Russian President Vladimir Putin warned European nations against increasing their involvement in the war.

Vladimir Putin, Russian President (through interpreter):

Representatives of NATO countries, especially in Europe, especially in small countries, they must be aware of what they are playing with. They must remember that this is, as a rule, a state with a small territory and a very dense population. And this is a factor that they should keep in mind before talking about striking deep into Russian territory.

Amna Nawaz:

Also today, Zelenskyy signed a $137 million security deal with Portugal. That package includes both military and financial aid.

Taiwan's legislature passed a package of bills seen as favorable to China because they limit the powers of the island's president. The changes were pushed by the opposition Nationalist Party, which supports unification with China.

During a fiery session in Parliament, lawmakers from the Democratic Progressive Party, which supports independence, protested on the floor and threw garbage bags at the other side. Outside of the chamber, massive crowds gathered to protest the changes. It's unclear whether the bills will make it to the president's desk for final passage.

On Wall Street today, stocks ended mixed after consumer confidence rose in May following three months of declines. The Dow Jones industrial average lost 216 points to close at 38852. The Nasdaq rose nearly 100 points to close above 17000 for the first time ever. And the S&P 500 ended virtually flat.

And we have a unique passing of note. The world's longest-serving flight attendant has died. Bette Nash spent nearly 70 years in the air. She began her career with Eastern Airlines in 1957. Nash died on May 17 following a recent breast cancer diagnosis. She was still employed by American Airlines at the time of her passing.

The carrier wrote on social media that Nash — quote — "inspired generations of flight attendants. Fly high, Bette." Bette Nash was 88 years old.