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In our news wrap Monday, besieged drugmaker Purdue Pharma has filed for federal bankruptcy protection. The move was part of a plan by the manufacturer of OxyContin to settle thousands of lawsuits stemming from the opioid crisis. Also, after more violent protests in Hong Kong, a pro-democracy legislator there appealed to the U.N. to investigate police response to the months-long demonstrations.
More than 49,000 workers at General Motors plants across the country are on strike tonight after contract talks broke down. It's the first nationwide walkout at GM since 2007, and it affects 33 manufacturing plants and 22 distribution warehouses across nine states.
We will take a closer look after the news summary.
Besieged drugmaker Purdue Pharma had filed today for federal bankruptcy protection. It was part of plan by the maker of OxyContin to settle thousands of lawsuits stemming from the opioid crisis. The tentative settlement could be worth $12 billion.
President Trump now says it is — quote — "looking" like Iran was behind a weekend drone attack on crude oil facilities in Saudi Arabia. But he also says he's waiting for definitive proof. Houthi rebels in Yemen claimed responsibility, and Iran has denied any involvement.
The U.N. Security Council convened today in New York, as the special envoy to Yemen sounded the alarm via video link.
This extremely serious incident makes the chances of a regional conflict that much higher and of a rapprochement that much lower. And with Yemen in some way or other linked, none of that, none of that is good for Yemen.
The cost of oil surged today in the wake of the attack. Prices in New York jumped $8 a barrel, or nearly 15 percent.
We will focus on the attack and its potential consequences later in the program.
The spike in oil prices pushed stocks lower. The Dow Jones industrial average lost 142 points to close at 27076. The Nasdaq fell 23 points. And the S&P 500 slipped nine.
In Afghanistan, NATO reports that a U.S. service member was killed in action today, the 17th so far this year. Earlier this month, President Trump called off peace talks with the Taliban after an attack that killed another American soldier.
Businesses and subways in Hong Kong reopened today, after another weekend of protests that saw some in the crowds throwing bricks and firebombs. Police on Sunday fired tear gas and water laced with blue dye to mark demonstrators, who used umbrellas to shield themselves.
Today, in Geneva, a pro-democracy legislator from Hong Kong appealed to the U.N. human rights body to investigate.
The police call protesters cockroaches. Brutal crackdowns and preemptive violence against them are hence regarded as acceptable pest control to curb free speech.
Today marks the 100th day of the movement, but there is no sign the police will exercise restraint. This is a result of the lack of democracy in Hong Kong.
The police, in turn, blamed what they called radical protesters. They have arrested now more than 1,400 people since the demonstrations began in June.
A storm that hit the Bahamas this weekend could grow into a major hurricane, but it is veering away from the U.S. mainland. Humberto had sustained winds of 90 miles an hour late today. Officials warned of rip currents along the East Coast. By Wednesday, the storm could lash Bermuda with dangerous wind and rain.
President Trump charged today that U.S. Supreme Court Justice Brett Kavanaugh is under assault by charges that are lies, after a new allegation of sexual misconduct. The New York Times reported over the weekend that it happened during Kavanaugh's student days at Yale. The Times later added that friends of the alleged victim say that she cannot recall the incident.
Prosecutors in New York City have subpoenaed the president's tax returns. Reports today said the subpoena went to Mr. Trump's accounting firm. It seeks the last eight years of state and federal returns for the president and for his business, the Trump Organization.
Meanwhile, the U.S. House Oversight Committee is asking Transportation Secretary Elaine Chao for documents involving her family's shipping company. Democrats say they want to know if any of her official actions were designed to benefit Foremost Group. Chao's father founded the firm.
New York Yankees great Mariano Rivera was awarded the Presidential Medal of Freedom today. The Hall of Fame pitcher was a five-time World Series champion and regarded by many as the best closing pitcher in baseball history.
And the famed front man of The Cars, Ric Ocasek, has died of heart disease. He was found Sunday in his New York apartment, a year after The Cars were inducted into the Rock and Roll Hall of Fame. They had a string of hits in the 1970s and '80s, including "My Best Friend's Girl."
Ric Ocasek was 75 years old.
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