Weekend Recap

Baghdadi's death

Over the weekend, a monumental foreign policy feat occurred, as Islamic State leader Abu Bakr al-Baghdadi died. President Trump reported from the White House on Sunday that the ISIS leader was defeated by U.S. forces.
 
President Trump announced that the mission to take down the leader in Northern Syria had been planned for nearly five months. Orchestrated by Army Delta Force commanders, Baghdadi was cornered in a tunnel and detonated a suicide vest which killed himself and three children.
 
In his announcement, Pres. Trump remarked that “Baghdadi's demise demonstrates America's relentless pursuit of terrorist leaders and our commitment to the enduring and total defeat of ISIS and other terrorist organizations” (Politico).
 
For years, Baghdadi has been considered one of the most wanted men in the world, and his death marks a shift in the United States’ involvement in Syria and defeating ISIS.

LVMH bids for Tiffany

The fashion industry experienced a potential shift over the weekend as Bernard Arnault, the owner of Louis Vuitton, bid $14.5 billion for rival company, Tiffany.
 
LVMH, the world leader in luxury goods, is valued at $108 billion, and will be even more profitable with an acquisition of Tiffany. The proposal could be an attractive offer for Tiffany, as the luxury brands could merge jewelry and fashion to be a dominating force in the industry.
 
Branded jewelry, indlucing Tiffany Company, grows “at about 6% a year” (Bloomberg), which could elevate LVMH in competing against jewelry companies that excel in selling high-end watches, jewelry, and other apparel.
 
Tiffany Company is evaluating the trade, but there have been no recent movements. If a deal is made, “the purchase would be the biggest deal yet for LVMH founder and Chairman Bernard Arnault, Europe's richest man” (Bloomberg), valued at $100 billion.
 
LVMH has had successful mergers in past years, as the company gained control of Christian Dior, which focuses on handbags, shoes, and clothing, in 2017 for $7 billion.

Rep. Katie Hill resigns

The developing case into House of Representatives Member Katie Hill (D-CA) concluded this weekend as the young Member announced her resignation, effective at the end of this week.
 
The ethics probe and investigation into Rep. Hill’s inappropriate involvement with a young campaign staffer had been ongoing for nearly two weeks. Rep. Hill officially announced the end of her time in Congress on Sunday after a thorough examination of her personal life.
 
On Sunday, Rep. Hill took to Twitter to formally resign, noting that “It is with a broken heart that today I announce my resignation from Congress. This is the hardest thing I have ever had to do, but I believe it is the best thing for my constituents, my community, and our country”.
 
In 2018, Representative Hill was elected to serve California’s 25 congressional district. Her tenure was cut short by an investigation conducted by the House Ethics Committee which exposed an affair she had with a congressional staffer.