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☆ US Senate Democrats tee up bill to avert government shutdown
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Kevin Wurm/File Photo Acquire Licensing RightsWASHINGTON, Nov 9 (Reuters) - U.S. Senate Majority Leader Chuck Schumer on Thursday took a procedural step to allow the Democratic-majority chamber to pass a stopgap government funding bill before a Nov. 17 deadline to avert a partial government shutdown. THE TAKEDisputes within the fractious House of Representatives Republican majority have prevented that chamber from voting on a stopgap funding measure known as a continuing resolution, or CR. If House Republicans fail to start that process in time, Senate Democrats could pass a bill of their own, which would need House approval, to head off the fourth partial government shutdown in a decade. WHAT'S NEXT* Democrats and Republicans in both chambers will continue negotiations on finding a path forward ahead of the deadline, in the hopes of averting a shutdown. Reporting by Makini Brice and Katharine Jackson; Editing by Scott Malone and Alistair BellOur Standards: The Thomson Reuters Trust Principles.

Persons: Kevin Wurm, Chuck Schumer, Kevin McCarthy, Republican Mike Johnson, Joe Biden, McCarthy, Makini Brice, Katharine Jackson, Scott Malone, Alistair Bell Organizations: U.S, Capitol, REUTERS, Rights, Democratic, Republican, Republicans, United, Thomson Locations: Washington , U.S, United States

☆ New US House Republican speaker faces early test on government funding
▼ + stars: | 2023-11-01 | by ( David Morgan | ) www.reuters.com time to read: +5 min

Newly elected Speaker of the House Mike Johnson (R-LA) takes his oath of office after he was elected to be the new Speaker at the U.S. Capitol in Washington, U.S., October 25, 2023. "This will be a litmus test," said Representative Ryan Zinke, a Republican who sits on the House committee that sets spending priorities. With a similar use of previously allocated money, House Republicans would spend a net $65.2 billion on transportation, housing and urban development, 25% below current levels. Even if passed, the House Republican bills have no chance of succeeding in the Democratic-led Senate or being signed into law by Democratic President Joe Biden. While the House has focused on passing spending bills with only Republican votes, the Senate has worked on measures that have bipartisan support.

Persons: Mike Johnson, Elizabth Frantz, Republican Mike Johnson, Johnson's, Don Bacon, Johnson, Israel, Chuck Schumer, Schumer, Ryan Zinke, Kevin McCarthy, Kelly Armstrong of, Joe Biden, Bob Good, Bacon, David Morgan, Scott Malone, Alistair Bell Organizations: U.S, Capitol, REUTERS, Rights, Republican, U.S . House, Department of, Hamas, Ukraine, Internal Revenue Service, Social Security, Democratic, Republicans, Environmental Protection Agency, Senate, Thomson Locations: Washington , U.S, Louisiana, Nebraska, Israel, Kelly Armstrong of South Dakota, Virginia

Do policymakers look back to last week’s report that the nation’s economy grew at a 4.9% rate in September, beating expectations? Or this week’s report on job growth for October due out on Friday after the Fed meeting on Tuesday and Wednesday? On Wednesday, the jobs data onslaught begins with private payroll firm ADP reporting its monthly employment survey for October. Political Cartoons on the Economy View All 602 ImagesWednesday also has the Fed announcing its decision on interest rates. These include adjustments to the Fed’s new regime of higher interest rates for a longer period and the government’s fiscal situation that requires a greater level of debt issuance.

Persons: Jerome Powell, ” Sam Bullard, Wells, ” Bullard, ” Chris Diaz, ”, Louisiana Republican Mike Johnson, Johnson Organizations: Conference Board, Fed, Treasury, Federal, Brown Advisory, Labor Department, McDonalds, Apple, Dow Industrial, Louisiana Republican Locations: Louisiana

WASHINGTON (AP) — Republican Mike Johnson is the new speaker of the House, but the ally of Donald Trump inherits many of the same political problems that have tormented past GOP leaders, tested their grasp of the gavel and eventually chased them out of office. But the goodwill toward Johnson blurs the political fault lines challenging the Louisianan's ability to lead the GOP majority as it faces daunting issues ahead. While not the party's top choice for the gavel, the deeply religious and even-keeled Johnson has few foes and an important GOP backer: Trump. In the House, far-right members had refused to accept a more traditional speaker, and moderate conservatives didn't want a hard-liner. A lawyer specializing in constitutional issues, Johnson had rallied Republicans around Trump’s legal effort to overturn the 2020 election results.

Persons: Mike Johnson, Donald Trump, Kevin McCarthy, Johnson, Joe Biden, Biden, ” Johnson, “, ” Trump, “ He’s, ” Biden, it’s, didn't, Matt Gaetz, McCarthy, Democrat Biden, MAGA, ”, Suzan DelBene, Israel ”, John Boehner, Paul Ryan, Newt Gingrich, Tom Emmer, Jim Jordan, Steve Scalise, Jill Colvin, Darlene Superville Organizations: WASHINGTON, —, GOP, Republican, Trump, Democrat, “ Republicans, Democrats, Lawmakers, Republicans, Hamas, Jordan’s, Associated Press Locations: Israel, Ukraine, York, Washington, Russia, Louisiana, New York

☆ Morning Bid: Haunted by 5% ahead of ECB, GDP and Amazon
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 23, 2023. With Amazon due to report later, there was no respite for the so-called 'Magnificent Seven' Wall St behemoths or the wider market ahead of Thursday's open. The bond market seemed unimpressed even as the U.S. House of Representatives ended a three week hiatus by electing Republican Mike Johnson, a conservative with little leadership experience, as speaker. European stocks (.STOXXE) and the euro dropped sharply, meantime, as regional banking shares were hit ahead of the European Central Bank's policy decision later in the day. Key developments that should provide more direction to U.S. markets later on Thursday:* European Central Bank policy decision and press conference.

Persons: Brendan McDermid, Mike Dolan, Israel, Republican Mike Johnson, Johnson, Joe Biden's, AO, Bunge, Northrop, Wang Yi, Antony Blinken, Emelia Sithole Organizations: New York Stock Exchange, REUTERS, Google, Big Tech, Nasdaq, Semiconductor, SOX, Bank of Japan, U.S . House, Republican, United Auto Workers, Ford, European, ECB, Chartered, BNP, Central Bank, Turkish Central Bank, Fed, Intel, UPS, Honeywell, Merck, Comcast, Mastercard, Capital, Energy, Mohawk, Eastman Chemical, Camden Property, AO Smith, Hasbro, Myers Squibb, Boston Scientific, Hershey, Northrop Grumman, Treasury, Foreign, U.S, Brussels Reuters Graphics Reuters, Reuters, Thomson Locations: New York City, U.S, Wall, Israel, Gaza, Philadelphia, Bank, Ukraine, China, Kansas, Bristol, Washington, Brussels

Aides previously found another batch of classified documents at his residence, and at a Washington think tank he was associated with. Earlier on Friday, House Oversight Committee Chairman James Comer wrote to the White House asking whether Hunter Biden had access to classified documents found at the president's private residence. In addition to examining Biden's handling of classified documents, Republicans are preparing to probe Hunter Biden's past business dealings in Ukraine. Republicans have sought to compare the investigation of Biden's handling of classified documents to the ongoing probe into how Trump handled classified documents after his presidency. The White House said Biden's attorneys found a small number of classified documents and turned them over after discovery.

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