Top news: The Obama administration will suspend most aid to Egypt, a move expected to be announced later this week, but will maintain support for border security operations in the Sinai, an issue seen as critical to Israel's security.
The decision to halt aid will deny the Egyptian military the big-ticket items it covets -- tanks, fighter jets, and helicopters -- but will keep money flowing to support the government's counter-terror operations. "We will continue to provide funds that are seen to support our national security interests," a U.S. official familiar with the deliberations told the Wall Street Journal.
In the aftermath of the move by the Egyptian military to oust President Mohamed Morsy and an increasingly bloody crackdown on the Muslim Brotherhood, the White House refrained from formally designating the action of the military a coup d'etat, which would have automatically suspended all aid to Egypt. Instead, the White House has gradually restricted components of American aid. Earlier this year, the delivery of several F-16 fighter jets was delayed and a military exercise was cancelled.
The decision to curtail aid comes on the heels of more violence in Egypt. On Sunday, the 40th anniversary of Egypt's 1973 attack on Israel, violence returned to the streets of Egypt when clashes broke out between opponents of the coup and security forces, leaving at least 51 dead and more than 200 injured.
U.S. Federal Reserve: President Obama will announce later today that he will nominate Janet Yellen as the chair of the U.S. Federal Reserve. Yellen, who has served as the Fed's vice-chair since 2010, will, if confirmed, be the first woman to lead the powerful central bank.
- Contrary to statements by Libyan officials, U.S. officials say they received tacit approval from the Libyan government to carry out a raid Saturday that captured an al Qaeda commander.
- Egypt's ousted president, Mohamed Morsy, will go on trial November 4, where he will face charges of inciting murder and violence.
- Ahead of talks in Geneva next week, Iran is preparing a package of proposals that will offer concessions on the production of enriched uranium in exchange for the lifting of sanctions. Meanwhile, a new bill authorizing a U.S. military strike against Iran is set to drop in Congress on Thursday.
- South Korea's primary intelligence agency confirmed that North Korea has restarted a nuclear reactor that has in the past provided plutonium for nuclear weapons.
- A special tribunal in Bangladesh found a senior member of the opposition guilty of crimes against humanity during the country's 1971 war for independence.
- A Chinese court agreed to consider the appeal of disgraced politician Bo Xilai.
- Italian Prime Minister Enrico Letta announced that his country will conduct a state funeral for the migrants who died when a boat capsized off the island of Lampedusa, killing at least 274.
- The EU commissioner for home affairs called for vastly expanded surveillance of the Mediterranean in order to prevent another catastrophe like the one off the island of Lampedusa.
- EU diplomats are close to striking a deal with the Ukrainian government securing the release of Yulia Tymoshenko, the imprisoned former prime minister, which would remove an obstacle to the conclusion of a trade deal between Ukraine and Europe.
- Advocates for the victims of a deadly cholera outbreak in Haiti said they will sue the U.N. for the role the body's peacekeepers played in bringing the disease to the island.
- Venezuelan President Nicolas Maduro requested degree powers from the National Assembly in order to fight corruption and economic sabotage.
- Argentine President Cristina Fernandez de Kirchner underwent surgery to drain a blodcot in her brain.
- A team of Navy SEALs aborted a raid in Somalia to capture an al Qaeda commander when they came under heavy fire and risked incurring heavy civilian casualties, including women and children.
- Election monitors in Guinea expressed concern over what they described as irregularities in the country's first parliamentary election since a 2008 coup.
- Clashes between rebels and civil protection groups left at least 30 people dead in the Central African Republic.
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