10 things you need to know today: August 3, 2015

Greek stocks drop sharply as market reopens, Obama prepares to release tougher power plant pollution cuts, and more

The president walking through a solar array in April.
(Image credit: AP Photo/Carolyn Kaster)

1. Greek stocks drop sharply as market reopens after shutdown

Greek stocks took a record 22.8 percent plunge early Monday when the Athens Stock Exchange reopened after being closed for five weeks. Bank stocks fell by 30 percent. By mid-day Greek shares were down about 19 percent. The market was shut down at the end of June as part of an effort to prevent financial collapse after bailout talks fell apart and Greece failed to make a massive loan payment. Greece and its lenders are entering the second week of talks on the country's third bailout in five years.

Reuters The New York Times

2. Obama proposing tougher cuts to power plant emissions

President Obama is expected to release new rules tightening limits on carbon pollution from the nation's power plants. The proposal is more strict than a previous draft. It is expected to require 32 percent decreases in carbon emissions from 2005 levels by 2030 — 9 percent more than in rules proposed a year ago. Also, at least 28 percent of power generated by these plants must come from renewable energy sources. "Climate change is not a problem for another generation," Obama said in a video previewing the announcement. "Not anymore."

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3. Suspect identified in Memphis officer's killing

Memphis police on Sunday identified Tremaine Wilbourn, a convicted bank robber, as the suspect in the fatal shooting of police officer Sean Bolton. The 33-year-old officer was shot during a routine traffic stop on Saturday night, and died of his wounds after being rushed to a hospital. Investigators said Bolton was shot after he approached an illegally parked 2002 Mercedes Benz, apparently interrupting a drug deal. The car's driver turned himself in to police and was released without being charged.

The Associated press

4. Trump campaign fires aide accused of racist Facebook posts

Donald Trump's presidential campaign on Sunday said it had fired political adviser Sam Nunberg, who was accused of making racist posts on his Facebook page. The posts, which dated back to 2007, included one calling the daughter of civil rights leader Rev. Al Sharpton "N---." Trump campaign manager Corey Lewandowski said the Facebook posts "were offensive and they do not reflect Mr. Trump's position."

bloomberg CNN

5. Hillary Clinton set to launch first TV ads

Hillary Clinton's presidential campaign is preparing to launch her first TV commercials on Tuesday. Both will focus on family — the first, titled Dorothy, will focus on her mother, and the second on her own experiences. A Clinton campaign aide told Business Insider that the ads aimed to counter a coming "avalanche" of attacks from Republican super PACs against the frontrunner for the Democratic nomination.

Business Insider

6. Canada's Parliament dissolved ahead of election

Canadian Prime Minister Stephen Harper dissolved Parliament on Sunday, setting in motion a national election campaign. The Conservative leader is going for a fourth term in a struggling economy. By kicking off the race now ahead of the Oct. 19 elections, Harper lengthened the campaign to 11 weeks, more than twice as long as normal. The rival left-leaning New Democratic Party leads in polls, but the extended campaign plays to his party's strengths, as it has a bigger war chest.

The Wall Street Journal Toronto Sun

7. Teen stabbed in Jerusalem Gay Pride Parade dies

A 16-year-old girl stabbed last week in a Jerusalem Gay Pride Parade died from her wounds on Sunday. The girl, Shira Banki, was one of six people stabbed — allegedly by Yishai Schlissel, an ultra-Orthodox Jewish man who had just served 10 years in prison for stabbing several people at a 2005 gay pride parade. Shira Banki's family said she died defending the principle that "everyone is entitled to live their lives in dignity and safety." The family said it was donating her organs, and called for "a little less hate and a lot more love."

The Jerusalem Post

8. Thousands evacuated as California wildfires grow

Explosive California wildfires forced the evacuation of thousands of people on Sunday. Nearly 10,000 firefighters are fighting at least 21 fires that have burned more than 130,000 acres. The largest blaze, the Rocky fire, scorched more than 50,000 acres in three Northern California counties, destroying 24 houses and driving 12,000 people from their homes. Gusty winds and drought conditions threatened to fuel further growth Monday.

Los Angeles Times CNN

9. Zimbabwe says another American hunter illegally killed a lion this year

Wildlife officials in Zimbabwe announced Sunday that a second American hunter — Pennsylvania gynecologist Jan Casmir Sieski — allegedly killed a lion in an unauthorized hunt this year. Zimbabwe's Parks and Wildlife Management Authority said Sieski shot a lion with a bow and arrow outside of Hwange National Park, where Cecil the lion was killed in July by an American dentist. Officials said the lion was killed on a farm owned by a safari tour operator in an area "where lion hunting is outlawed."

The New York Times

10. American Pharaoh wins first race after taking Triple Crown

American Pharoah won the $1.75 million Haskell Invitational on Sunday in his first race since becoming the 12th horse to win the Triple Crown. The 3-year-old colt got a 57-day break after completing the feat with a victory in the Belmont Stakes. The two-and-a-quarter length victory was American Pharaoh's eighth consecutive win. American Pharaoh's next start is unsure, but his last race is expected to be the $5 million Breeders' Cup Classic on Oct. 31.


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Harold Maass

Harold Maass is a contributing editor at TheWeek.com. He has been writing for The Week since the 2001 launch of the U.S. print edition. Harold has worked for a variety of news outlets, including The Miami Herald, Fox News, and ABC News. For several years, he wrote a daily round-up of financial news for The Week and Yahoo Finance. He lives in North Carolina with his wife and two sons.