Mar 29, 2020 - World

North Korea launches more ballistic missiles into the sea

A woman in Seoul passes a televised broadcast image of North Korean leader Kim Jong-un, March 21. Photo: Jung Yeon-je/AFP via Getty Images

North Korea has fired what appeared to be two short-range ballistic missiles into the ocean off its east coast, officials in Japan and South Korea said Sunday morning local time.

The big picture: North Korea has launched a series of missiles since March 2. "In a situation where the entire world is experiencing difficulties due to COVID-19, this kind of military act by North Korea is very inappropriate and we call for an immediate halt," South Korea's Joint Chiefs of Staff said in a statement, per Yonhap news agency.

Go deeper: Kim Jong-un announces end to moratorium on nuclear weapon tests

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Mark Zuckerberg: Social networks should not be "the arbiter of truth"

Photo: Drew Angerer/Getty Images

Facebook CEO Mark Zuckerberg argued on CNBC's "Squawk Box" Thursday that social media platforms should not police political speech, and that "people should be able to see what politicians say.”

Why it matters: Zuckerberg was responding to Twitter's decision this week to fact-check a pair of President Trump's tweets that claimed that mail-in ballots are "substantially fraudulent." Twitter's label, which directs users to "get the facts" about mail-in voting, does not censor Trump's tweets.

House Democrats pull FISA reauthorization bill

Speaker Nancy Pelosi. Photo: Saul Loeb/AFP via Getty Images

House Democrats pulled legislation Thursday that would have renewed expired domestic surveillance laws and strengthened transparency and privacy protections amid broad opposition from President Trump, House GOP leadership and progressive Democrats.

Why it matters: The failure to reauthorize the Foreign Intelligence Surveillance Act (FISA) comes as Trump continues to attack the intelligence community, which he claims abused the law to surveil his 2016 campaign and Trump administration officials.

U.S. GDP drop revised lower to 5% in the first quarter

Data: Bureau of Economic Analysis; Chart: Axios Visuals

The U.S. economy shrunk by an annualized 5% in the first quarter — worse than the initially estimated 4.8% contraction — according to revised figures released by the government on Thursday.

Why it matters: It's the worst quarterly decline since 2008 and shows a huge hit as the economy was just beginning to shut down because of the coronavirus. Economists are bracing for the second quarter's figures to be the worst ever — with some projecting an annualized decline of around 40%.

2 hours ago - Economy & Business