Independence Day Events Scrapped Over Heat, Iran Funeral, More
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News when you want it with Bloomberg News Now. I'm Monica Ricks. America's Independence Day parade in Washington, D.C. has been canceled due to extreme heat as a searing heat dome continues hovering over the East Coast. Bloomberg's Jeff Mason is sweating it out in our nation's capital now, ahead of President Trump's big speech tonight at the National Mall.
There may be some people who decide not to show up tonight because of the heat, but fireworks are still on and the president is still intending to give a speech tonight. In fact, he quipped a little earlier this week that he planned to give a long one just to prove that he could despite the heat. So be prepared. President Trump is not going to stay in the air conditioning. He is going to head out to the mall this evening to make remarks.
That's our Jeff Mason on Bloomberg this weekend. Last night, the president spoke at Mount Rushmore. They had fireworks there despite drought and wildfire warnings. The extreme heat's also creating record power demand now on the largest U.S. grid. We get more on that from Bloomberg's Ed Kalecki.
PJM Interconnection, a power grid serving 67 million people across 13 states, from D.C. to Chicago, said demand on July 2 likely surpassed the previous record of 165.563 gigawatts set in August 2006. The dangerous heat wave has brought triple-digit temperatures to many American cities. The Great American State Fair, a two-week festival of patriotic-themed events along the National Mall in Washington, closed for several hours Friday amid the heat. Ed Kalecki, Bloomberg Radio.
The body of Iran's Supreme Leader Ayatollah Ali Khamenei is now lying in state at a mosque in Tehran as a week-long funeral ceremony begins. Iranian officials say they expect as many as 20 million people to participate in the event and mourn Khamenei, who was killed during the war in late February. Officials say the conflict delayed services. Meantime, peace talks between the U.S. and Iran are on pause, but at least eight ships attempting to leave the Persian Gulf along the Omani coast have been turned back over the last few days. The Strait of Hormuz is supposed to be open, but officials say that process is still complicated by Iran seeking to assert control over the vital waterway. The fallout from Venezuela's recent earthquakes have now evolved into a major test for acting President Delcy Rodriguez, who's scrambling to prevent the humanitarian disaster from becoming a political one.
Her 180-day mandate as interim leader expires today, a day after she defended her government's relief efforts.
Why was America's Independence Day parade in Washington, D.C. canceled?
In Washington, Democratic Senator Sheldon Whitehouse is demanding Justice Department records on President Trump's settlement with the IRS. Bloomberg's Amy Morris has details.
The agreement with the IRS shields President Trump and his family from federal tax audits. So Senator Whitehouse wants to know of any federal agency coordination on the deal. Whitehouse is demanding any memoranda prepared by the IRS. discussing defenses against claims Trump and his sons made in their lawsuit against the IRS. He also wants names of personnel involved in those talks. And he wants these records by July 14th, the day before acting Attorney General Todd Blanche's confirmation hearing. In Washington, Amy Morris, Bloomberg Radio.
Princess Cruises says its ship is back out at sea today and heading to Alaska after docking in San Francisco due to a norovirus outbreak. Lisa Jones is on board.
We did all the whole emergency thing and, you know, taking all that kind of stuff and vitamin C and all that kind of stuff.
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