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☆ Republican Speaker McCarthy opposes extending debt-ceiling through fiscal year
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, May 9 (Reuters) - Republican U.S. House of Representatives Speaker Kevin McCarthy said on Tuesday he opposes the idea of extending the nation's debt-ceiling through the end of the fiscal year on Sept. 30, ahead of an afternoon meeting with Democratic President Joe Biden. Asked by reporters whether he would support such a move to help the U.S. avoid defaulting on its $31.4 trillion in debt, McCarthy replied "no." "Just get this done now," added McCarthy, who has said he will not pass an increase in the borrowing limit without an agreement to cut spending. Referring to Biden, he added, "he's got to stop ignoring problems. Reporting by David Morgan; Editing by Scott MaloneOur Standards: The Thomson Reuters Trust Principles.

☆ Embattled Republican Rep. George Santos to face federal charges -CNN
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +3 min

Santos is expected to appear as soon as Wednesday in federal court in New York's Eastern District, where charges have been filed under seal, CNN reported. The Associated Press reported that in a brief phone interview Santos said he was unaware of the charges. Santos' office did not immediately respond to a request for comment, and his lawyer could not immediately be reached. CNN reported that the exact nature of the charges against Santos were not immediately clear. Santos' office, through his congressional Twitter account, has previously said he is cooperating with the House Ethics Committee's investigation.

Summary Trump's lawyer calls the case an 'affront to justice'Jury due to begin deliberations on TuesdayNEW YORK, May 8 (Reuters) - Donald Trump's absence from a trial where writer E. Jean Carroll accuses him of rape and defamation shows that "he did it," a lawyer for Carroll said on Monday, while Trump's lawyer told jurors the case was "outrageous." "He never looked you in the eye and denied raping Ms. Carroll," lawyer Mike Ferrara told jurors as the civil trial in Manhattan federal court neared the end of an eighth day. Jurors also heard from two other women who said Trump sexually assaulted them in separate incidents decades ago. She said Carroll had been unable to sustain a romantic relationship since the alleged rape, and that Trump's public criticism had harmed her client's reputation. Reporting by Luc Cohen in New York; Editing by Will Dunham and Noeleen WalderOur Standards: The Thomson Reuters Trust Principles.

[1/3] E. Jean Carroll, former U.S. President Donald Trump rape accuser, arrives at Manhattan Federal Court for the continuation of the civil case, in New York City, U.S., May 8, 2023. REUTERS/David 'Dee' DelgadoSummary 'Grab 'em' remark undermines denials, accuser's lawyer saysJury due to deliberate in rape and defamation case on TuesdayNEW YORK, May 8 (Reuters) - Donald Trump's lawyer on Monday called a rape and defamation case brought by the writer E. Jean Carroll against the former U.S. president an affront to the justice system. She has abused this system by bringing a false claim for amongst other things money, status, political reasons," Tacopina said. Trump accuses Carroll of making up the story to drive sales of a 2019 memoir in which she made her claims public. U.S. District Judge Lewis Kaplan, who is not related to Carroll's lawyer, said he expected jurors to begin deliberating on Tuesday.

[1/3] E. Jean Carroll, former U.S. President Donald Trump rape accuser, arrives at Manhattan Federal Court for the continuation of the civil case, in New York City, U.S., May 8, 2023. U.S. District Judge Lewis Kaplan, who is not related to Carroll's lawyer, said he expected jurors to begin deliberating on Tuesday. "The truth is that E. Jean Carroll, a former cheerleader and Miss Indiana, was exactly Donald Trump's type," Kaplan, Carroll's lawyer, said during closing arguments. "Donald Trump here is a witness against himself." Jurors also heard from two other women who said Trump sexually assaulted them in separate alleged incidents decades ago.

[1/2] E. Jean Carroll, former U.S. President Donald Trump rape accuser, walks at Manhattan Federal Court following a civil case, in New York City, U.S., April 26, 2023. Trump has so far not attended the trial, which began on April 25, but told reporters in Ireland last Thursday that he "probably" would attend. Kaplan has scheduled closing arguments for Monday, with jurors due to begin deliberations after that. Jurors also heard from two other women who said Trump sexually assaulted them in separate alleged incidents decades ago. In a video deposition played for the jury last Wednesday, Trump denied raping Carroll.

☆ Trump will not testify in New York rape, defamation trial
▼ + stars: | 2023-05-08 | by ( Luc Cohen | Hannah Lang | ) www.reuters.com time to read: +2 min

FILE PHOTO: Former U.S. President and Republican presidential candidate Donald Trump attends a campaign event in Manchester, New Hampshire, U.S., April 27, 2023. REUTERS/Brian Snyder(Reuters) - Former U.S. President Donald Trump will not testify at a civil trial to challenge claims made by writer E. Jean Carroll that he raped her in the 1990s and later defamed her, after letting a Sunday deadline pass without asking the court to appear. In response to a Reuters request for comment, Tacopina said in a statement what Trump’s legal team had already told the court on Thursday, that the former president would not testify in the case. In a video deposition played for the jury on Wednesday, Trump denied raping Carroll. “It’s the most ridiculous, disgusting story,” Trump said in the video, hunched over a conference table as Carroll’s lawyers presented documents to him.

Those concerns intensified in February after U.N. inspectors revealed their discovery of uranium particles of 83.7% purity at an Iran nuclear facility built deep underground to protect it from air strikes. Western officials fear a nuclear-armed Iran could threaten Israel, Gulf Arab oil producers, and spark a regional arms race. A senior Iranian nuclear official said Tehran would not take the revival of U.N. sanctions lying down. But Western officials and analysts say that Iran's production of 90% uranium would demand a significant response. 'FACE A CRISIS AT SOME POINT'While Western officials want to leave the door open for diplomacy, tensions with Russia and China make that harder.

☆ Factbox: Old disputes overshadow visit by Japan's Kishida to South Korea
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +4 min

May 5 (Reuters) - Japanese Prime Minister Fumio Kishida will be visiting South Korean President Yoon Suk Yeol on Sunday in the latest effort to improve bilateral ties. - Relations between the two North Asian U.S. allies have been strained over disputes dating to Japan's 1910-1945 occupation of Korea. - Relations deteriorated in 2019 when Japan restricted exports of high-tech materials for making chips and display panels to South Korea. - In late March, Japan's trade ministry lifted export curbs to South Korea on the high-tech materials, while South Korea withdrew its complaint filed at the World Trade Organization on Japan's export controls. Under Yoon, South Korea has resumed trilateral military drills and agreed to more intelligence sharing on issues like tracking ballistic missile launches from North Korea.

Landing of aircraft at night and in bad weather, for instance - crucial to regular offshore carrier operations - remain far from routine, several of the attaches and analysts said. "Carrier operations are a very complicated game, and China's got to figure this out all by itself. A new plane, the KJ-600, designed to perform a similar role to the E-2C/D Hawkeye launched from U.S. carriers, is still in testing, according to the Pentagon's latest annual report on China's military. Several countries operate aircraft carriers but the U.S. remains the most dominant, running 11 carrier battlegroups with global reach. A September editorial published in a magazine run by a PLA weapons manufacturer, titled "Four great advantages the PLA has in attacking Taiwan", did not mention the role of Chinese carriers.

☆ Ex-OpenSea Worker Found Guilty in First NFT Insider-Trading Case
▼ + stars: | 2023-05-04 | by ( James Fanelli | ) www.wsj.com time to read: 1 min

The home page of NFT marketplace OpenSea. Photo: Ariel Zambelich/The Wall Street JournalA former employee of NFT marketplace OpenSea was found guilty Wednesday of what federal prosecutors described as the first insider-trading case involving digital tokens, marking a win for the Justice Department in its push to police the crypto industry. A federal jury in New York convicted Nathaniel Chastain of wire fraud and money laundering for using nonpublic information from his employer to trade on nonfungible tokens in 2021. The Manhattan U.S. attorney’s office charged Mr. Chastain in 2022, accusing him of purchasing the NFTs ahead of OpenSea’s featuring them on its home page. Once the NFTs spiked in value after being featured, Mr. Chastain sold them, pocketing tens of thousands of dollars in profit, prosecutors said.

☆ Global issuance of mortgage-backed securities falls to a 23-year low
▼ + stars: | 2023-05-04 | by ( Patturaja Murugaboopathy | ) www.reuters.com time to read: +3 min

May 4 (Reuters) - The issuance of global mortgage-backed securities (MBS) slumped to a 23-year low in the first four months of this year, highlighting the turmoil in the real estate sector as higher mortgage rates hit property sales and refinancing. According to Refinitiv data, global MBS issuance stood at $100 billion in the first four months of this year, the lowest since 2000. Reuters GraphicsThe property sector, often a leading indicator for other economic activity, has seen a slump this year due to a spike in mortgage rates as global central banks increased interest rates to tame inflation. MBS consist of pools of home loans and other real estate debt and typically carry higher yields than U.S. Treasuries. The refinancing of existing mortgages may also be affected, as there may be fewer lenders available to refinance existing loans leading to private lenders and higher rates."

☆ Analysis: As DeSantis readies 2024 presidential bid, Florida lawmakers hand him fresh ammo
▼ + stars: | 2023-05-03 | by ( James Oliphant | ) www.reuters.com time to read: +7 min

WASHINGTON, May 3 (Reuters) - Republican Florida Governor Ron DeSantis had counted on a productive state legislative session this spring to turbocharge his coming 2024 presidential bid. With the first presidential nominating contest still nine months away, political analysts say DeSantis has plenty of time to turn his fortunes around. Lawmakers on Tuesday passed an immigration measure that would provide more money for DeSantis’ program for relocating undocumented migrants. POTENTIAL PERILSThe six-week abortion ban remains the thorniest outcome of the session for DeSantis’ national aspirations. The governor did not expressly advocate for the bill, and he signed it without fanfare to replace the current 15-week ban.

The resumption of bilateral financial discussions comes ahead of Japanese Prime Minister Fumio Kishida's planned visit to South Korea on Sunday and Monday for talks with President Yoon Suk Yeol. It also came as Asian policymakers, gathering for the annual Asian Development Bank (ADB) meeting this week in the South Korean city of Incheon, discussed regional economic challenges and ways to beef up buffers against various shocks. In a joint statement issued after their meeting on Tuesday, Asian finance leaders warned of risks to the region's economy and called for countries to stay vigilant to potential spillovers from the recent U.S. and European banking sector turmoil. Japan and South Korea will resume regular finance dialogue, likely to be held annually, at "an appropriate timing," Suzuki told reporters after the bilateral meeting. Choo is expected to visit Japan this year for another meeting with Suzuki, South Korea's finance ministry said.

The resumption of bilateral financial discussions comes ahead of Japanese Prime Minister Fumio Kishida's planned visit to South Korea on Sunday and Monday for talks with President Yoon Suk Yeol. Japan and South Korea will resume regular finance dialogue, likely to be held annually, at "an appropriate timing," Suzuki told reporters after the bilateral meeting. Washington has pressed both countries to resolve these disputes to better counter rising threats from China and North Korea and other regional challenges. Under Yoon, South Korea has resumed trilateral military drills and agreed to more intelligence sharing on issues like tracking ballistic missile launches from North Korea. China's finance minister and central bank head were not present at a trilateral meeting, with their deputies attending instead.

☆ Furyk named U.S. team captain of 2024 Presidents Cup in Montreal
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +1 min

May 2 (Reuters) - Jim Furyk, a 17-times winner on the PGA Tour, was named on Tuesday as the U.S. team captain for the 2024 Presidents Cup in Montreal. Furyk, who guided the United States as captain at the 2018 Ryder Cup won by Europe, made the most recent of his seven Presidents Cup appearances in 2011 at Royal Melbourne and holds a 20-10-3 all-time record. In addition to experience in the event, Furyk also served as a Presidents Cup captain's assistant twice, for Jay Haas in 2015 and Steve Stricker in 2017. Team for the 2024 Presidents Cup is truly an honor that I am humbled and excited to accept," said Furyk. Royal Montreal is the oldest golf club in North America and in addition to hosting the Presidents Cup in 2017 also held the Canadian Open on 10 occasions, most recently in 2014.

☆ US Senator Tim Scott teases May 22 announcement on presidential bid
▼ + stars: | 2023-04-30 | by ( ) www.reuters.com time to read: +1 min

Senator Tim Scott plans to announce his decision on entering the 2024 presidential on May 22, according to media reports on Sunday, in a potential challenge to former President Donald Trump for the party's nomination. He made the announcement at a town hall in South Carolina on Sunday, according to media reports. Scott launched a presidential exploratory committee earlier this month, which allowed him to raise his national profile and continue fundraising with fewer regulatory limitations than a formal campaign. If Scott formally announces his intent to enter the presidential race, he will join former South Carolina Governor Nikki Haley in the quest for the Republican nomination. Former biotech executive Vivek Ramaswamy, conservative talk radio host Larry Elder and former Arkansas Governor Asa Hutchinson are also Republican contenders.

[1/2] Florida Governor Ron DeSantis speaks at the 2023 NHGOP Amos Tuck Dinner in Manchester, New Hampshire, U.S., April 14, 2023. REUTERS/Brian SnyderApril 26 (Reuters) - In his face-off with Walt Disney Co (DIS.N), Florida Governor Ron DeSantis has frequently adopted the pose of a swaggering gunfighter out of the Wild West. “There’s a new sheriff in town,” DeSantis boasts to conservative audiences nationwide as he prepares to launch his 2024 presidential bid. But as his clash with Disney escalates, so does the political risk for DeSantis and his nascent campaign. Billionaire Ken Griffin of Citadel Securities last year remarked that DeSantis’ actions amounted to “retaliation against corporate America.”“The war with Disney made some sense for a time in the context of Governor DeSantis’ presidential aspirations.

CHICAGO, April 26 (Reuters) - Former U.S. Treasury Secretary Lawrence Summers said the odds that the U.S. government could face a technical debt default due to legislation around its borrowing limit were at around 2%-3%, but that any default would be fixed quickly. A standoff between Republicans and Democrats over raising the U.S. borrowing limit has started to impact money markets, with incoming tax receipts recently indicating that the deadline to raise the $31.4 trillion borrowing limit could be sooner than expected. "I think the odds on a technical default associated with the debt limit legislation over the next few months are 2% or 3%, and if it happens it will be repaired fairly quickly," Summers said at a Morningstar investment conference in Chicago. On the other hand, the White House has called on Congress to raise the debt limit without conditions, as it did three times under Biden's Republican predecessor, Donald Trump. JPMorgan warned last week that there was a "non-trivial" risk of a technical default on U.S. Treasuries, and that the debate over the debt ceiling would likely run "dangerously close" to its final deadline.

WASHINGTON, April 26 (Reuters) - Republican U.S. House Speaker Kevin McCarthy said lawmakers would vote on Wednesday on a bill to raise the $31.4 trillion federal debt ceiling and slash spending, despite lingering dissension within their ranks over the measure. Another critic of the bill, hardline House Freedom Caucus Chairman Scott Perry, said he and other conservatives who had held out for changes to work requirements were ready to move forward. Representative Kevin Hern, chairman of the 175-member Republican Study Committee, welcomed the changes, which he said most Republicans would support. Bending to the far-right wing of the party, Republicans also accelerated some new, tougher work requirements for receiving Medicaid healthcare benefits for the poor. House Republicans are offering to increase Washington's borrowing authority by $1.5 trillion or until March 31, whichever comes first.

WASHINGTON, April 26 (Reuters) - Republican U.S. House Speaker Kevin McCarthy said lawmakers would vote on Wednesday on a bill to raise the $31.4 trillion federal debt ceiling and slash spending, despite lingering dissension within their ranks over the bill. Representative Kevin Hern, chairman of the 175-member Republican Study Committee, welcomed the changes, which he said most Republicans would support. Several House Republicans, particularly from Midwestern states, had rebelled against that provision. Bending to the far-right wing of the party, Republicans also accelerated some new, tougher work requirements for receiving Medicaid healthcare benefits for the poor. House Republicans are offering to increase Washington's borrowing authority by $1.5 trillion or until March 31, whichever comes first.

☆ Factbox: 2024 US presidential election: who is in, who is out and who is still thinking about it
▼ + stars: | 2023-04-25 | by ( Ross Colvin | ) www.reuters.com time to read: +7 min

Here is a list of declared candidates and other potential 2024 hopefuls in both the Democratic and Republican parties. Scott, 57, has launched a presidential exploratory committee but not yet confirmed he plans to run. The former Kansas congressman was one of Trump's most loyal lieutenants and initially backed his false claims of a stolen presidential election in 2020. She ran as a Democrat in the 2020 presidential primary but dropped out of the race before any votes had been cast. She launched her latest campaign on March 23, saying she wants to challenge Biden in the Democratic nominating race.

☆ Tucker Carlson leaves Fox News days after Dominion lawsuit settlement
▼ + stars: | 2023-04-24 | by ( Helen Coster | ) www.reuters.com time to read: +5 min

April 24 (Reuters) - Fox News Media and its top-rated host Tucker Carlson have agreed to part ways, less than a week after parent company Fox Corp (FOXA.O) settled for $787.5 million a defamation lawsuit in which Carlson played a starring role. A third person said the senior executive producer of "Tucker Carlson Tonight", Justin Wells, was also let go from Fox News on Monday. After the announcement of Carlson's departure from Fox News, a spokesperson for former President Donald Trump tweeted: "Fox News is controlled opposition." "I stand with Tucker Carlson!" Carlson joined Fox News as a contributor in 2009 and became a co-host of "Fox & Friends Weekend" in 2012.

It is considered the first criminal insider trading case involving such assets. "He abused that position of trust," prosecutors said in an April 4 filing. He added that if prosecutors mention insider trading, "there is a substantial danger of undue prejudice and confusion of the jury." "Is it insider trading of anything?" "If this case sticks, there is precedent that insider trading theory can be applied to any asset class."

☆ Investors are betting on this high-quality ETF and beating the market
▼ + stars: | 2023-04-24 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The iShares MSCI USA Quality Factor ETF (QUAL) has emerged as the most popular ETF in the U.S. this year. The iShares ETF screens for return on equity, earnings consistency and companies with low debt-to-equity ratios. The QUAL ETF has an expense ratio of 0.15% and a three-star rating from Morningstar. Other notable quality ETFs include the JPMorgan U.S. Quality Factor ETF (JQUA) and Invesco S & P 500 Quality ETF (SPHQ) . By that measure, quality stocks outperformed in every major market in the first quarter except the U.K., which has less of a tech sector.

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