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☆ Bank of America's dealings with Leon Black and Jeffrey Epstein are in the Senate's crosshairs
▼ + stars: | 2024-04-16 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

A Senate committee is asking Bank of America about payments from Leon Black to Jeffrey Epstein. The Senate is investigating tax avoidance strategies used by the mega-rich, The New York Times reports. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA Senate committee investigating $158 million in payments that private equity investor Leon Black made to Jeffrey Epstein has brought Bank of America into the mix.

Persons: Leon Black, Jeffrey Epstein, —, Ron Wyden Organizations: Bank of America, New York Times, Black, Service, Senate Finance Committee, Business Locations: Oregon

☆ After racist threats forced a Southeast Asian restaurant to close down, the owner reopened a new restaurant as an homage to his immigrant parents
▼ + stars: | 2024-01-13 | by ( Yoonji Han | ) www.businessinsider.com time to read: +6 min

A Southeast Asian restaurant closed down last year after facing false accusations of serving dog meat. Anna Le Nguyen and Minh Rasavong Oriyavong help out in the kitchen of Love & Thai. Rallying togetherIn November, Rasavong reopened his restaurant under a new name: Love & Thai. The mural by Hana Luna Her at Love & Thai pays homage to Rasavong's family's journey to America. Customers have flocked to Love & Thai and shown their support, and Rasavong wants to share that support with others in the community.

Persons: —, David Rasavong, Rasavong, Anna Le Nguyen, Minh Rasavong, Richard Vogel, Louis, Yelp, David Rasavong Rasavong, Hana Luna, Rasavong's Organizations: Service, Google, Facebook, Business, Thai, &, US, Philippine -, People, Local, Love &, Customers Locations: Fresno, Laos, Thailand, United States, St, Philippines, Oregon, America

☆ Clarence Thomas ruled against student debt relief. Now a Senate panel alleges his healthcare exec pal forgave his $267,230 loan.
▼ + stars: | 2023-10-26 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +2 min

A Senate committee found that Clarence Thomas had a substantial loan forgiven by a wealthy friend in 2008. Thomas' friend, healthcare exec Anthony Welters, loaned him over $260,000 that Thomas used to purchase a luxury RV. The findings came four months after Thomas joined a majority Supreme Court opinion striking down Biden's student debt forgiveness plan. The Senate Finance Committee said Thomas didn't report the loan on his ethics forms. "Justice Thomas should inform the committee exactly how much debt was forgiven and whether he properly reported the loan forgiveness on his tax returns and paid all taxes owed.

Persons: Clarence Thomas, Thomas, Anthony Welters, —, Joe Biden, Biden, Thomas ', Welters, Thomas didn't, Oregon Sen, Ron Wyden Organizations: Service, White, New York Times, Committee, Finance Locations: Oregon

☆ Microsoft's role in data breach part of US cyber inquiry -Bloomberg News
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

A Microsoft logo is seen in Los Angeles, California U.S. November 7, 2017. REUTERS/Lucy Nicholson/File PhotoCompanies Microsoft Corp FollowAug 10 (Reuters) - A U.S. cybersecurity advisory panel will investigate risks in cloud computing that will also include Microsoft Corp's (MSFT.O) role in the recent breach of government department email systems by suspected Chinese hackers, Bloomberg News reported on Thursday. That access was used to spy on the communications of U.S. Commerce Secretary Gina Raimondo and senior State Department diplomats. The U.S. House of Representatives Oversight Committee last week said it was opening an investigation into China's suspected involvement in recent breaches of Commerce and State department email systems. Reporting by Gokul Pisharody in Bengaluru; Editing by Himani Sarkar and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Lucy Nicholson, Ron Wyden, Gina Raimondo, CISA, Gokul, Himani Sarkar, Jamie Freed Organizations: Microsoft, Los Angeles , California U.S, REUTERS, Bloomberg, Federal Trade Commission, Infrastructure Security Agency, Justice Department, U.S . Commerce, State Department, U.S . House, Commerce, Thomson Locations: Los Angeles , California, U.S, Oregon, Bengaluru

☆ US Senator Wyden asks FTC, CISA, DOJ to 'take action' against Microsoft following hack
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

[1/2] Senator Ron Wyden (D-OR) speaks during the Senate Finance Committee hearing on the nomination of Chris Magnus to be the next U.S. Customs and Border Protection commissioner, in the Dirksen Senate Office Building on Capitol Hill in Washington, DC, U.S., October 19, 2021. In a letter released Thursday, Wyden said that "even with the limited details that have been made public so far, Microsoft bears significant responsibility for this new incident." The FTC, the Justice Department, and the Cybersecurity Agency - known as CISA - did not immediately respond to request seeking comment. Microsoft did not immediately return a request for comment. Reporting by Raphael Satter; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Ron Wyden, Chris Magnus, Mandel Ngan, Read, Wyden, Raphael Satter, Chizu Organizations: Senate, U.S . Customs, Border Protection, Federal Trade Commission, Infrastructure Security Agency, Department of Justice, Microsoft, FTC, Justice Department, Cybersecurity Agency, Thomson Locations: U.S, Dirksen, Washington , DC, Oregon, China

☆ PGA Tour-LIV Golf merger is a major win for the Saudis — and Americans are slamming it
▼ + stars: | 2023-06-07 | by ( Natasha Turak | ) www.cnbc.com time to read: +8 min

It's lured some of the biggest golf stars away from the PGA Tour with huge paychecks, spurring antitrust lawsuits with the American organization. "This is Saudi Arabia buying the PGA tour," sports talk show host Rich Eisen said in his broadcast after hearing the news. USA Today sports columnist Christine Brennan called the move "a total wimp-out by the PGA Tour. Glyn Kirk | AFP | Getty ImagesSocial media was rife with self-described golf fans vowing to never again watch the PGA Tour. Pro golfer Phil Mickelson, another member of the LIV Tour, tweeted "Awesome day today" in response to the news.

Persons: LIV Golf, that's, —, LIV, Saudi Crown Prince Mohammed bin Salman, It's, Jay Monahan, Rich Eisen, Pat Welter, it's, Christine Brennan, Tiger Woods, Glyn Kirk, Ron Wyden, Chris Murphy, Jamal Khashoggi, Saudi LIV, Monahan, Saudi Arabian Crown Prince Mohammed bin Salman, Jim Watson, Bryson DeChambeau, DeChambeau, Phil Mickelson, Jeffries, Yasir Al, Cristiano Ronaldo, Saudi Arabia's, Al Organizations: PGA Tour, Saudi, LIV Players, PGA, Saudi Arabia's Public Investment Fund, Saudi Crown, CNBC, Twitter, 150th, St, AFP, Getty, LIV, Washington Post, Amnesty, Saudi Arabian Crown, Saudi Embassy, Washington D.C, Saudi Foreign Ministry, CNN, Royal, Anadolu Agency, Getty Images Investment, Rumayyan, Nassr Football Club, Al Nassr Football Locations: Saudi Arabia, North Carolina, Saudi, Scotland, Oregon, Connecticut, American, Washington ,, Washington, videoconference, Riyadh, PIF, Portuguese

☆ Oregon Senators Face Re-election Ban After Prolonged Boycott
▼ + stars: | 2023-05-16 | by ( Mike Baker | ) www.nytimes.com time to read: +1 min

The NewsFrustrated, powerless and with little hope of regaining significant influence anytime soon, Republican lawmakers in Oregon have in recent years turned repeatedly to a disruptive tactic: boycotting their own legislature. It has been so disruptive that voters altered the Constitution last year to punish those who were repeatedly absent by barring them from re-election. But now, as the legislature debates contentious bills over abortion and transgender rights, some lawmakers are boycotting once again. This week, in the first significant test of the new law, three state senators reached the legal threshold of 10 unexcused absences. There are no term limits in the legislature, but some senators are facing re-election campaigns as soon as next year.

☆ GOP law cut Big Pharma tax rates by 40%, Senate report says
▼ + stars: | 2023-05-11 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

A Republican law has slashed the average tax rates of big pharmaceutical companies by more than 40% since it was enacted in 2017, Senate Finance Committee Democrats said in a report Thursday. That provision allowed U.S.-based pharmaceutical companies to access lower tax rates on their foreign income, the report said. Pharmaceutical companies report 75% of their taxable income overseas, the report said. The report said the average rate fell to 11.6% in 2019 and 2020, which resulted in billions of dollars in tax savings for pharmaceutical companies. Wyden also obtained similar information about other U.S. pharmaceutical companies, including Abbott Laboratories , Amgen , Bristol Myers Squibb and Merck .

There's still not an exact picture of how much Bankman-Fried spent on politics this cycle. But based on what's already public, Bankman-Fried was one of the more prolific campaign donors this cycle, and his spending had a significant effect on midterm races. And his donations to the Protect Our Future super PAC helped shape some key Democratic primaries. The group spent $1.4 million to boost her in her Democratic primary, and then she cruised to victory in the less competitive November general election. Other top racesThe group spent at least $500,000 in support of Democratic candidates in nine other races (parenthesis indicate whether they won the general election, even if the spending happened in the primary):

The first was Democrat Wes Moore, who beat Republican Dan Cox, becoming Maryland’s first Black governor, and only the third Black governor in the country. Black female candidates hoped to make history across gender and racial lines in several states, from Rep. Val Demings and Aramis Ayala in Florida to Chelsea Clark in Ohio and several women bidding to be the country’s first Black female governor. Although many of these key races ended in upsets for the Black female Democratic candidates, some states have ushered in new progressive representation. And in Massachusetts, Democrat Andrea Campbell beat out Republican Jay McMahon to become the state’s first Black female attorney general. “What we just saw in the midterms is that these Black women were able to inspire multiracial coalitions that enabled their wins.

☆ Slavery rejected in some, not all, states where on ballot
▼ + stars: | 2022-11-09 | by ( Associated Press | ) www.nbcnews.com time to read: +4 min

Voters in three states approved ballot measures that will change their state constitutions to prohibit slavery and involuntary servitude as punishment for crime, while those in a fourth state rejected the move. The measures approved Tuesday curtail the use of prison labor in Alabama, Tennessee and Vermont. In Louisiana, a former slave-holding state, voters rejected a ballot question known as Amendment 7 that asked whether they supported a constitutional amendment to prohibit the use of involuntary servitude in the criminal justice system. After Tuesday’s vote, more than a dozen states still have constitutions that include language permitting slavery and involuntary servitude for prisoners. Several other states have no constitutional language for or against the use of forced prison labor.

Share this -Link copiedWisconsin Senate race too close to call Wisconsin's Senate race between GOP Sen. Ron Johnson and Democrat Mandela Barnes is too close to call, NBC News says. Vance wins Ohio Senate race, defeating Democrat Tim Ryan, NBC News projects COLUMBUS, Ohio — J.D. Ohio Republican Senate candidate J.D. Vance is leading The Senate race in Ohio is too early to call, NBC News says, but Republican candidate J.D. Share this -Link copiedGeorgia Senate race too close to call Georgia's Senate race is too close to call about three hours after polls closed at 7 p.m.

☆ Live Election Results: Oregon State Legislature
▼ + stars: | 2022-11-08 | by ( Madison Hall | ) www.businessinsider.com time to read: +2 min

Polls close in the state at 8 p.m. local time. Given the state has multiple timezones, the first polls close at 10 p.m. EST and the last polls close at 11 p.m. EST. It symobilizes the 2022 Election. Given the state has multiple timezones, the first polls close at 10 p.m. EST and the last polls close at 11 p.m. EST. Oregon House of Representatives election results:Oregon Senate election results:

☆ A powerful Oregon senator revealed a path forward for a long-awaited cannabis banking bill
▼ + stars: | 2022-09-08 | by ( Jeremy Berke | ) www.businessinsider.com time to read: +3 min

Oregon Sen. Jeff Merkley is bullish on the prospects for a cannabis banking bill ahead of the midterms. Previous versions of the bill, the SAFE Banking Act, have failed to pass Congress seven times. The bill would allow federally-chartered banks to work with cannabis companies, but wouldn't legalize cannabis federally. Merkley said that in the past, Democrats have opposed passing SAFE Banking because it didn't include those reforms. "So folks that should have been allies for SAFE Banking have been opposed in the past," Merkley said.

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