Reuters World News - Birthright citizenship, Trump’s crypto haul, Serena Williams and Medicare

Episode Date: July 1, 2026

The U.S. Supreme Court upholds birthright citizenship in a blow to President Donald Trump’s agenda. Financial disclosures show he earned more than $1.4 billion from his family’s crypto ventures last year. Volatility in the U.S. tech sector fuels fears of a bubble. Millions of seniors get $50 weight loss drugs under a new Medicare plan. The FBI says ransom notes linked to the disappearance of Savannah Guthrie’s mother are fake. Thousands march across South Africa demanding migrants leave the country. And Serena Williams’ Wimbledon comeback fizzles out. Listen to the Morning Bid podcast ⁠⁠here⁠⁠. Sign up for the Reuters Econ World newsletter ⁠⁠here⁠⁠. Listen to the Reuters Econ World podcast ⁠⁠here⁠⁠. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

Hi, I'm Kim Vinal in Wanganui, New Zealand. It's Wednesday, July 1st. Today, the Supreme Court deals a blow to Trump and upholds birthright citizenship, but allows a ban on transgender athletes in women's sports. Medicare starts to test whether it's cost effective to offer seniors' cheap weight loss drugs, and Serena Williams' Wimbledon comeback fail. This is Reuters World News, bringing you everything you need to know from the front lines in 10 minutes, seven days a week. The US Supreme Court has delivered a major blow to President Donald Trump, rejecting his effort to restrict birthright citizenship.

In a 6-3 decision, the justices reaffirm a core promise of the 14th Amendment. If you're born in the United States, you're a citizen. The court says Trump's executive order, targeting children born to non-citizen parents, defies more than a century of precedent, including an 1898 landmark ruling. White House reporter Jacob Bogage says this was more than just a legal test. It was a central piece of Trump's immigration agenda, one that could have reshaped the legal status of hundreds of thousands of babies every year. On the whole, the majority found this was a pretty open.

in the shut case. People born in the U.S. are citizens of the U.S. and Justice Jackson writes our opinion that rethinking the citizenship clause of the 14th Amendment would have returned the United States to the era of Dren Scott, in which all people born here wouldn't necessarily be citizens. That was a horrifically ugly time in American history. It's the time that legitimized slavery. And that was the feeling of the majority that had birthright citizenship and overturned, we would have been on a very slippery slope to who gets to count as Americans

and who enjoys basic rights here in the United States. Trump called the ruling too bad for our country and immediately pivoted, vowing to push Congress to end birthright citizenship through legislation instead. The Supreme Court also ruled on two major cases with big implications for this year's midterm elections. The justices struck down

federal limits on coordinated spending between political parties and candidates, a win for Republicans who argued the caps violated free speech. The court also upheld state bans on transgender athletes in women's sports, overturning lower court rulings in Idaho and West Virginia. 25 other states now have similar laws on the books. New financial disclosures show President Donald Trump reported more than 1.4 billion dollars in income from his family's crypto ventures last year. Of that, almost 800 million came from World Liberty Financial, a crypto venture he and his sons co-founded, and the profits of which

are split amongst him and his family. He reported another more than $600 million from the sale of his Trump meme coins. It means most of the president's income now comes from digital assets, which have benefited from his crypto-friendly policies. The White House denies any conflict of interest, saying Trump's crypto policies were made in the best interest of the American people. Meanwhile, a bill that could offer everyday American some cost of living relief in the form of more affordable housing is stalling at President Trump's desk. It's a yacht.

Trump people say, it's wonderful. To me, compared to the Save America Act, Just about everything is a big yawn. The president is casting doubt on the bipartisan bill and is instead pressuring Congress to pass stricter voting requirements before he signs it. Recent volatility in the US tech sector is fueling fears of a possible market bubble, with some warning signs that the market could be due for a correction. But other signals tell a more mixed story.

Our markets reporter, Sakeb Ahmed, explains. has to do with price action. If you look at things like the semiconductor index, it's risen by 100% this year. The last time that happened was in 1999, just before the dot-com bubble burst. Prices have increased for a number of years here, and we are having a really, really good year, which is making people wonder is something about to break. And a lot of people who study this stuff, like strategists, investors, they look at very measures, some of these measures have started to look stretched. One of the measures is the Warren

Buffett indicator. It basically looks at the value of the stock market as a percentage of GDP, gross domestic product, and that's pretty stretched right now at north of 200%. But there are some other measures that are not as stretched as valuation. So for example, sentiment and positioning are two things that don't seem to be signaling the kind of danger that you see before bubbles, For more markets news, check out our Reuters' Daily Markets podcast Morningbid. The FBI says three messages reported to have been sent in connection with the disappearance of Savannah Guthrie's mother appear to be fake. Investigators say two ransom notes and a third message from someone claiming to know the kidnappers were not genuine. The agency says it traced the first two notes to the same sender and found that cryptocurrency deposited into an account-specified.

in a ransom demand was never touched. The findings raise fresh questions about whether 84-year-old Nancy Guthrie was kidnapped for ransom at all. The case remains unsolved. Beginning today, millions of Americans on Medicare will qualify for obesity drugs like Wagovi or Zepbound for just $50 a month. It's the first time Medicare will cover these GLP1 medications for weight loss alone, rather than for conditions like diabetes.

It's starting as an 18-month trial. Healthcare reporter Chris Prentice explains why. The U.S. Centers for Medicare and Medicaid Services wanted to do this as a permanent program, but they got a lot of pushback from industry, essentially over the cost and a lot of other questions. The answer to that was to come up with a temporary pilot program. It's designed to help them compile data

that really can bring industry on board and show why this is a lot of. a good thing to offer to seniors. It is expected to be costly. You know, one industry estimate put it at $1 billion to over $3 billion for the lifetime of the program. The hope, though, is that you'll start to see cost benefits, too. So if people are losing weight, what other medical expenses are they not going to have? To South Africa, where thousands of protesters marched across the country on Tuesday, to mark a deadline that's set for undocumented migrant. to leave the country.

Thousands of foreign nationals have already fled, and some of the marches turned violent. Our reporter Nellie Payton sent this report in from one of those protests in Durban. I'm outside Durban City Hall right now where there's a massive crowd of protesters going past. There's at least a couple thousand people here. The city's basically shut down,

and most businesses have not opened because people were afraid of looting. There's a massive security presence. There's tons of policemen out and SWAT teams and helicopters to make sure none of this gets out of control. And a lot of foreigners have either left the country or are presumably hiding. These people are chanting that they want foreigners to leave the country. They're mad that they're taking people's jobs. They say that they're bringing crime into South Africa.

Where I was earlier, there are some asylum seekers and refugees from Democratic people. of Congo that are camped out on the sidewalk outside the Home Affairs Office because they're hoping they'll be safe there. And this march went just about a block from where they are, but police blocked the protesters from actually going to that site and interacting with the asylum seekers there.

These protests and this massive anti-immigrant movement in South Africa have kind of tarnished the country's reputation certainly on the continent where other African countries are saying that it's a betrayal of the support of the support and help that they gave South Africans when they were fighting to end apartheid. The United States has a chance to do something today that it has not done since 2002 win a knockout game at the FIFA World Cup. They'll play Bosnia and Herzegovina,

who are marking their second ever appearance at the tournament. The US scored eight goals to finish first in its group during the opening stage. Kickoff is at 8 p.m. Eastern and Santa Clara, California. Serena Williams' much-anticipated return to competitive tennis fizzled out at Wimbledon in the first round with a defeat to Australian Meyer Joint. Forty-four-year-old Williams showed flashes of her brilliance, but ultimately it wasn't enough to beat the 20-year-old joint, who was not even born when Williams won the first seven of her 23 Grand Slam singles titles. For more on any of the stories from today, check out Reuters.com or the Reuters app.

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