The controversial trade pact made its way through the Senate on Thursday and is now headed to the House; the markets are modestly higher and Hillary Clinton is struggling to raise money for her raise to become the Democratic nominee for the White House. Here’s what we’re focusing on at midday:
ISIS takes over another strategic city in Syria. The unconfirmed victory over Palmyra puts 50% of Syria in the hands of the terror group, giving them a strategic perch and control over yet another heritage site in the region. Wall Street Journal (paywall)
Wealth gap widens in rich countries. According to the OECD, 40% of the population in developed countries have not benefited much from the economic expansion of the past decades, further widening the gap between the wealthy and the poor. The OECD said higher taxes on the rich to help the poor won’t “necessarily harm growth.” MarketWatch
U.S. Senate bill could give banks with under $500 billion in capital relief. The Senate banking committee takes up a bill on Thursday that would exclude those banks from the designation as systematically important financial institutions or SIFIs. If eventually passed, 11 banks would have $66 billion more in capital available to them, which could translate into bigger payouts for their shareholders. Bloomberg
Three decades of late night comedy has come to an end. Wednesday night David Letterman hosted his much anticipated final “Late Show.” Final guests included Chris Rock, Jerry Seinfeld, and Steve Martin. Letterman hosted more than 6,000 broadcasts over his career. No word yet on what his next move is, other than hanging out with his 10-year-old son Harry. Yahoo
Fox to but a limit on GOP debaters. Fox News Channel says it will invite up to 10 Republican presidential candidates to the first debate, Aug. 6 in Cleveland. Fox News will select the participants based on an average of the five most recent national polls. So far it looks as if Carly Fiorina and Sen. Lindsey Graham, who not make the cut. Politico
Ireland is eyeing the rainbow. The Irish will head to the polls Friday to decide whether to legalize same-sex marriage. The country, which is about 80% Catholic, could be the first country to legalize same-sex marriage by poplar vote. New York Times (paywall)
Photo by Alper Cugun via Flickr.