Jun 3, 2019

Israeli politics likely to delay key part of Trump admin's peace plan

President Trump and Israeli Prime Minister Benjamin Netanyahu.Photo: Mandel Ngan/AFP/Getty Images

President Trump said on Sunday he is unhappy that Israel will be embroiled in a new election campaign, as his administration prepares to launch its long-awaited Israeli-Palestinian peace plan — the full release of which will likely now be delayed.

Why it matters: Trump has pushed the peace team, led by his son-in-law and senior adviser Jared Kushner, to launch the plan already. They were waiting for Israeli Prime Minister Benjamin Netanyahu to form a coalition government before they launched it. A new government will not be formed before November — when Trump will be dealing with his reelection campaign.

  • Kushner will launch the economic part of the plan this month at a conference in Bahrain. He and his team planned to launch the political part of the proposal later this summer, probably in July. Now, with Israel preparing for a second election, it is likely to be postponed once again.

The big picture: After the Washington Post reported Secretary of State Mike Pompeo saying at a meeting with Jewish leaders the plan was "unexecutable" and might not "gain traction," Trump told reporters Pompeo may be right. He said he still thinks the U.S. has a good chance to push the plan forward. Trump blamed the delay of the proposal on Israel's political crisis.

"Israel is all messed up with their election. I mean, that came out of the blue three days ago. So that's all messed up. They ought to get their act together. Bibi [Netanyahu] got elected. Now all of a sudden they're going to have to go through the process again till September. That's ridiculous. So we're not happy about that."

Go deeper: Trump disappointed Netanyahu failed in coalition talks

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Bob Iger to step down as CEO of Disney

Photo: Jeff Kravitz/FilmMagic

The Walt Disney Company said Tuesday that it had named longtime Disney executive Bob Chapek as CEO Bob Iger's successor, effectively immediately. Iger will remain executive chairman of the company through 2021.

Why it matters: Iger is credited with having successfully turned around Disney’s animation and studio businesses and with the strategic acquisition of Marvel, Pixar, Lucasfilm and 21st Century Fox. Most recently, he was the person behind Disney's successful launch of its Netflix rival Disney+.

India gives Trump warm welcome as brutal protests rip New Delhi apart

People supporting India's new citizenship law beat a Muslim man in New Delhi, India. Photo: Danish Siddiqui/TPX/Reuters

While President Trump enjoys a hero's welcome in India, that nation's capital is being torn apart by violent protests between Hindus and Muslims.

The state of play: At least 186 people — 56 police officers and 130 protesters — have been injured and 10 killed in recent clashes, a New Delhi police spokesperson told the AP.

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Wall Street sees 2nd day of brutal sell-off

Photo: Johannes Eisele/AF via Getty Images

The stock market fell another 3% on Tuesday, following Monday’s sell-off. Bond yields touched record lows.

The big picture: Stocks continued to fall as the CDC said it expects the coronavirus to spread in the U.S. The Dow and S&P are more than 7% below the record highs seen earlier this month.