Morning Brief: Obama’s the nominee

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It’s official: Barack Obama is the Democratic Party’s nominee for president of the United States.

Former President Bill Clinton gave the Illinois senator an unqualified endorsement Wednesday night, declaring, “Barack Obama is ready to be president of the United States.” “The master has arrived,” Peggy Noonan writes of Clinton in today’s Wall Street Journal.

“These times require more than a good soldier; they require a wise leader,” said vice presidential nominee Joe Biden, criticizing John McCain’s foreign-policy views.

McCain has picked his running mate, Politico and the New York Times report separately. He will notify his pick today and announce it at 11 a.m. Friday in Dayton, OH. The three most-mentioned names? Minnesota Gov. Tim Pawlenty, former Massachusetts Gov. Mitt Romney, and, less likely, Connecticut Sen. Joseph Lieberman. Karl Rove reportedly urged Lieberman to withdraw his name from consideration, but he refused.

Global Economy

German Chancellor Angela Merkel again tops Forbes magazine’s list of the world’s most powerful women.

Even the mighty Toyota has lowered its global sales target for 2009.

Arctic sea ice has already melted to its second-lowest level since satellite recordings began.

Europe and the Caucasus

G7 countries condemned Russia’s recognition of South Ossetia and Abkhazia and called for support of Ukraine. The EU is considering sanctions.

Russia, meanwhile, apparently believes that August 8 was its 9/11. Russia is growing alarmed at the number of NATO ships in the Black Sea, which are ostensibly there for a humanitarian purpose. Moscow needs to “sober up,” a senior U.S. official tells the Washington Post.

Americas

The United States could cut its fuel use in half by 2035, an MIT research team estimates.

Brazil and Argentina, South America’s agricultural heavyweights, are responding to high food prices with opposite policies.

Former London Mayor “Red” Ken Livingstone has signed up as an urban-planning advisor for Venezuelan President Hugo Chávez.

Mexico is opening bidding for the largest infrastructure project in its history, a $4 billion new port in Baja.

Asia

Top U.S. military commanders met secretly Tuesday with Pakistani Army chief Ashfaq Kayani to fashion a common strategy for the border areas. On Wednesday, Pakistan claims its military killed nearly 50 pro-Taliban militants near the Afghan border.

China’s National Audit Office reports that the Chinese government misused or mismanaged at least $6.7 billion in public funds in 2007.

Middle East and Africa

Iraq could take control of security in Anbar province as early as Monday, allowing the U.S. Marine Corps to shift resources to Afghanistan. Also — no joke — Baghdad is planning to build a huge Ferris wheel.

Lebanon has indicted Libyan leader Moammar el-Qaddafi for kidnapping Sheikh Moussa Sadr, a prominent Shiite cleric who disappeared nearly 30 years ago.

More than 70 African migrants died when their makeshift ferry sank in the Mediterranean Sea.

The Sudanese hijackers have surrendered to Libyan authorities.

Today’s Agenda

Al Gore and Barack Obama speak at the Democratic National Convention. It’s the 45th anniversary of Martin Luther King’s “I have a dream” speech.

It’s the second day of the 65th Venice International Film Festival.

Moscow hosts its 12th annual motor show.