Ivory Coast Reinforces Northern Borders Against Islamist Threat

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Ivory Coast is deploying more troops to its northern borders after recording its first Islamist attack since 2016.

This “operational zone will allow us to move from border surveillance” to be in a position to defend the borders with Mali and Burkina Faso, government spokesman Sidi Toure told reporters following a cabinet meeting Monday.

The country wants “to prevent any infiltration” after militants attacked an army post at the Burkinabe border on June 11, killing 12 security officers, he said.

This was the first Islamist attack on Ivorian soil since the raid of a beach resort in Grand-Bassam left 19 people dead. There has been growing concern that insurgents have been moving further south since groups affiliated to al-Qaeda occupied urban centers in northern Mali in 2012. The world’s top cocoa grower had been largely spared from the violence which spilled over to several other countries in the region.

Amazon Develops Smart Shopping Cart for Cashierless Checkout

Amazon.com Inc. has developed a smart shopping cart that will ring up purchases and let consumers check out more speedily.

Equipped with a flat screen, the Dash Cart will debut at a new kind of supermarket Amazon is opening later this year in the Woodland Hills neighborhood of Los Angeles, the company said Tuesday.

The e-commerce giant has been trying to stand out in the competitive physical retail market, most notably with its Amazon Go convenience stores that automate the checkout process.

Computer vision and sensors will identify items placed in the cart, and shoppers will exit the store through a special lane that can identify the cart and process payment, the Seattle-based company said in an e-mail.

Photos of the Woodland Hills store and planning documents seen by Bloomberg appear to show a conventional supermarket layout, with space for a pickup-and-returns counter.

The Verge reported on the cart earlier.

— With assistance by Matt Day

Economic Lifeline, U.K. Growth Struggle, China Nerves: Eco Day

Welcome to Tuesday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• In about two weeks millions of Americans could lose a crucial lifeline of this pandemic: $600 a week in extra federal unemployment benefits. The scheduled end will ripple through households and the entire economy
  • For many small U.S. towns reliant on travel and tourism, coronavirus-related lockdowns have devastated the local economy

  Stock Alert: Rigel Pharma Soars 80%

  Shares of Rigel Pharmaceuticals, Inc. (RIGL) jumped more than 80% jump on the news that an investigator-sponsored trial (IST) has been started by Imperial College London to study its approved treatment fostamatinib, in patients with Covid-19 pneumonia.

  The stock hit a new high of $5.24 this morning.

  Fostamatinib, an oral spleen tyrosine kinase (SYK) inhibitor, is approved in the U.S. and Europe as a treatment for adult chronic immune thrombocytopenia (ITP).

  “Severe COVID-19 pneumonia can lead to acute respiratory distress syndrome, or ARDS, which can often be fatal. Given encouraging data from pre-clinical models of fostamatinib, we believe there is potential for SYK inhibition to help treat the severity of the disease for these patients and to prevent ARDS,” said Raul Rodriguez, Rigel’s president and CEO.

  Stock Alert: Lumber Liquidators Stock Hit New 52-Week High

  Shares of Lumber Liquidators Holdings Inc. (LL) have been trading between $3.77 and $15.71 in the past one year, and touched a new 52-week high of $15.71 Tuesday morning. LL is currently trading at $15.45, up $1.75 or 12.77% in regular session. Current trading volume is 873K versus an average volume of 1.16 million shares.

  Ivory Coast Reinforces Northern Borders Against Islamist Threat

  Sign up to our Next Africa newsletter and follow Bloomberg Africa on Twitter

  Ivory Coast is deploying more troops to its northern borders after recording its first Islamist attack since 2016.

  This “operational zone will allow us to move from border surveillance” to be in a position to defend the borders with Mali and Burkina Faso, government spokesman Sidi Toure told reporters following a cabinet meeting Monday.

  The country wants “to prevent any infiltration” after militants attacked an army post at the Burkinabe border on June 11, killing 12 security officers, he said.

  This was the first Islamist attack on Ivorian soil since the raid of a beach resort in Grand-Bassam left 19 people dead. There has been growing concern that insurgents have been moving further south since groups affiliated to al-Qaeda occupied urban centers in northern Mali in 2012. The world’s top cocoa grower had been largely spared from the violence which spilled over to several other countries in the region.