5 things you need to know Wednesday
Guam reacts with concern to North Korea's missile strike threat
Residents in Guam expressed their concern Wednesday after North Korea's military said its considering measures to strike the strategic U.S. military outpost with an intermediate to long range ballistic missile. The threat came hours after President Trump lashed out at North Korean leader Kim Jong Un in response to reports that the reclusive nation has produced a miniaturized nuclear warhead that can fit inside its missiles. Earlier this week, North Korea warned that it would launch “thousands-fold” revenge against the U.S. after the United Nations imposed new sanctions on Pyongyang for its nuclear and missile programs.
It's been 10 years since global financial meltdown
Ten years ago Wednesday, French bank BNP Paribas blocked withdrawals from hedge funds that specialized in U.S. mortgage debt. That day marked the beginning of a credit crisis that caused investment bank Lehman Brothers to collapse a year later, ushering in the Great Recession of 2007-09. The crisis marked the first time the world's central banks worked together to save the global financial system and eventually led to more restrictive U.S. financial regulations including the 2010 Dodd-Frank law. It touched off an era of incredibly low-interest rates: The benchmark rate that affects credit cards, home equity credit and other consumer loan rates, fell from 5.25% in 2007 to between 1% and 1.25% today.
Michael Brown was killed in a police shooting three years ago
Michael Brown, an unarmed, black 18-year-old, was fatally shot by white police officer Darren Wilson three years ago Wednesday in Ferguson, Mo. Brown's death sparked riots in Ferguson and protests around the country that propelled the efforts of Black Lives Matter activists into the national spotlight. In the aftermath of the unrest, federal investigators determined the city’s justice system had disproportionately targeted African-American residents. Wilson was not charged for the shooting, but Brown's family recently won $1.5 million in a wrongful death suit against the city of Ferguson.
T-Mobile hopes to lure Boomers, seniors with new plan
Wireless carrier T-Mobile takes aim at the Baby Boomer generation with a new pricing plan that kicks in Wednesday. The T-Mobile One Unlimited 55+ plan includes two lines and unlimited talk, text and 4G LTE data for $60 monthly, including taxes and fees. T-Mobile hopes to crack the Verizon Wireless/AT&T stranglehold on the Boomer segment: The top two U.S. carriers control about 80% of Boomers, while T-Mobile currently has just 8%.
Tiger Woods to be arraigned on DUI charge
Tiger Woods won’t be attending Wednesday’s arraignment related to his May arrest for driving under the influence, Woods’ lawyer told the Associated Press. But Woods seems like he could avoid community service or jail time because he meets the qualifications for Palm Beach County’s first-time DUI offender program where a 12-month monitoring program is mandated. Woods was arrested May 29 after police found him sleeping in his running car with the blinker on.
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