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☆ Rep. Patrick McHenry, who served as temporary speaker, will not seek re-election
▼ + stars: | 2023-12-05 | by ( Sahil Kapur | ) www.cnbc.com time to read: +2 min

US Representative Patrick McHenry (R-NC) speaks to members of the media outside the office of US House Speaker Kevin McCarthy (R-CA), at the US Capitol in Washington, DC, on October 3, 2023. WASHINGTON — Rep. Patrick McHenry, R-N.C., announced Tuesday that he won't seek re-election in 2024, a shocking move to many of his colleagues that will further thin the ranks of Republican institutionalists in Congress. He gained national attention during his three-week stint in October as House Speaker pro tempore after Republicans ousted Rep. Kevin McCarthy, R-Calif., from the position. Despite his solidly conservative positions and voting record, McHenry is seen on Capitol Hill as a pragmatist and widely respected in both parties. During the speaker battle, McHenry was cited by Democratic leaders as the sort of GOP lawmaker who they trust enough to work with.

Persons: Patrick McHenry, Kevin McCarthy, Republican institutionalists, McHenry, Obama, Donald Trump, —, I've Organizations: US, WASHINGTON — Rep, Republican, Financial, Democratic, Republicans, Capitol, Trump, GOP Locations: Washington ,, R, McHenry

☆ The business world is shaken after the death of 'financial genius' Charlie Munger
▼ + stars: | 2023-11-29 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Charlie Munger, Warren Buffett's right-hand man at Berkshire Hathaway, died on Tuesday at age 99. 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 . "Charlie Munger once offered what I consider to be the best life advice one can receive: 'How to find a good spouse? Still, others praised the former vice chairman of Berkshire Hathaway for his lifelong advocacy of education and philanthropy, with multiple users calling Munger a legend and "financial genius."

Persons: Charlie Munger, Warren Buffett's, Berkshire Hathaway, —, Charlie Munger's, @WarrenBuffett, Mohamed, Charlie, — Mohamed, Munger, Nancy Barry, Sahil Bloom, William Green Organizations: Berkshire, Service, Berkshire Hathaway Locations: Munger, LA

☆ How Formula One accidentally helped Las Vegas workers land the 'best contract ever'
▼ + stars: | 2023-11-23 | by ( Sahil Kapur | ) www.cnbc.com time to read: +2 min

Ferrari driver Carlos Sainz of Spain drives past the Sphere during the F1 Las Vegas Grand Prix on Saturday, November 18, 2023 on the Las Vegas Street Circuit in Las Vegas, NV. When Formula One came to Las Vegas, it brought a level of glitz and glamor rivaled only by Monaco. "Las Vegas is now the sporting capital of the world, combined with the entertainment capital of the world. "We think all the largest events in the world belong in Las Vegas. They encouraged Formula One ticket-holders to support workers by avoiding casinos or hotels mired in the labor standoff.

Persons: Carlos Sainz, Ted Pappageorge, weren't Organizations: Vegas, Las Vegas, Circuit, Monaco, Bartenders Union, MGM Resorts, Caesars Entertainment, Wynn Resorts, Culinary Union, Formula, NBC News Locations: Spain, Las Vegas, NV, Sin City, Vegas

☆ A new hope for Ukraine aid in Washington
▼ + stars: | 2023-10-27 | by ( Sahil Kapur | Julie Tsirkin | ) www.cnbc.com time to read: +3 min

WASHINGTON — There's a renewed hope for approving additional aid to Ukraine after House Republicans resolved their speaker paralysis, and as some hard-right lawmakers critical of new funding hint at a viable path to vote on it. One month ago, then-Rep. Mike Johnson, R-La., voted with 93 Republicans to cut off Ukraine aid. Now, as speaker, Johnson said he's asked White House staff "bifurcate" aid to Israel and Ukraine. But notably, some of those Republicans now say they could accept holding separate votes on Ukraine money, which they oppose, and aid to Israel, which they favor. Good also suggested pairing Ukraine aid with border security money and policy changes to the asylum system.

Persons: Mike Johnson, WASHINGTON —, Johnson, he's, Vladimir Putin, We're, Kevin McCarthy, McCarthy, Matt Gaetz, Bob Good, it's Organizations: Republican Conference, House Republicans, Republicans, White House, Fox News, Capitol, NBC, Biden, Republican, GOP, Republican House Locations: Longworth, Ukraine, Israel, U.S, China, Taiwan

☆ Republicans nominate Mike Johnson for House speaker in latest attempt to break GOP impasse
▼ + stars: | 2023-10-25 | by ( Scott Wong | Sahil Kapur | ) www.cnbc.com time to read: +3 min

U.S. Rep. Mike Johnson (R-LA) leaves a House Republican conference meeting in the Longworth House Office Building on Capitol Hill on Oct. 24, 2023 in Washington, DC. Rep. Mike Johnson, a relatively little-known Louisiana Republican and low-ranking member of the GOP leadership team, became the party's latest nominee for House speaker on Tuesday night after three other hopefuls fizzled out. It remains unclear if he can garner the 217 Republican votes — a simple majority of the full House — needed to win the coveted gavel. Johnson is seeking to achieve something that the last three nominees failed to do: win at least 217 of the 221 Republican votes needed to become speaker. Another wild card in the speaker's race is Trump, who knifed Emmer on Tuesday after he won the nomination.

Persons: Mike Johnson, Tom Emmer, Johnson, Emmer, Steve Scalise, Jim Jordan of, Jordan, Liz Cheney, Donald Trump, Biden, Trump Organizations: Rep, Republican, Washington , DC, Louisiana Republican, GOP, GOP Conference, Committee, New York Times, Electoral, The Times, Republicans, Trump Locations: Longworth, Washington ,, Louisiana, Johnson, Jim Jordan of Ohio

The wife of Rep. Don Bacon, R-Neb., has received anonymous, threatening text messages this week pressuring her to persuade her husband to support Jordan. Rep. Steve Womack, R-Ark., said his staffers have been "cussed out" in phone calls from Jordan supporters. But the bloc of roughly 20 anti-Jordan Republicans say that they aren't caving and that the hardball tactics are backfiring. Moments after Jordan was rejected on a second ballot for speaker Wednesday, Gimenez recounted a tense phone call with Jordan on Tuesday. Gimenez told reporters just off the House floor.

Persons: Jim Jordan, Jim Jordan's, Republican holdouts, Jordan, Don Bacon, Rep, Steve Womack, Carlos Gimenez, Jordan robocalls, Mariannette Miller, Meeks, she'd, Miller, Gimenez, they're, he's, you've, I'd, —, Kevin McCarthy, Jordan's Organizations: U.S, Capitol, Republican, GOP, Jordan Republicans Locations: Rayburn, Washington ,, Ohio, South Florida, Iowa

☆ Turmoil in DC as race for new Speaker of the House begins
▼ + stars: | 2023-10-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTurmoil in DC as race for new Speaker of the House beginsSahil Kapur, NBC News Sr. National Political Reporter, joins 'Fast Money' to talk turmoil in Washington D.C. after Rep. McCarthy was ousted from the House Speakership.

Persons: Sahil Kapur, McCarthy Organizations: NBC, Washington D.C Locations: Washington

☆ Senate introduces a bipartisan bill to keep the government open through Nov. 17
▼ + stars: | 2023-09-26 | by ( Sahil Kapur | Frank Thorp V | ) www.cnbc.com time to read: +3 min

Senate leaders released a short-term funding bill Tuesday — with four days left to avert a government shutdown at the end of this month — to keep money flowing until Nov. 17 to give Congress more time to ink a larger agreement. The bipartisan bill, negotiated between leaders of the Democratic majority and Republican minority, includes $4.5 billion in aid to Ukraine and $6 billion in emergency FEMA funding for disaster relief. "It's always a hypothetical that the Senate is going to do something," McCarthy told reporters. "I'm not going to take up hypotheticals of someday dreaming the Senate is going to do something. Senate Majority Leader Chuck Schumer, D-N.Y., urged senators to pass it.

Persons: Patty Murray, Murray, Kevin McCarthy, McCarthy, I'm, Chuck Schumer, Schumer, Mitch McConnell, McConnell Organizations: Democratic, Republican, GOP Locations: Ukraine, Ky

☆ Two House Republicans say they might work with Democrats to fund government
▼ + stars: | 2023-09-22 | by ( Sahil Kapur | Rebecca Kaplan | ) www.cnbc.com time to read: +5 min

WASHINGTON — As the Republican stalemate over government funding continues, two freshman GOP House members opened the door Thursday to end-running their party's leadership and working with Democrats to fund the government. Lawler told reporters that if Republicans can't unify to pass a continuing resolution, or CR, to approve short-term funding, he will pursue a discharge petition with Democrats. "If there is not going to be a CR coming out of the House Republican caucus, then I will move forward with a discharge petition," he said. That means at least five Republicans would have to break off for a discharge petition to succeed — potentially more if not all Democrats sign it. Democratic leaders have downplayed the prospects of a discharge petition to resolve the mess and noted that one hasn't been filed.

Persons: Marc Molinaro, Mike Lawler, Joe Biden, they're, Molinaro, Lawler, Kevin McCarthy, doesn't, Matt Gaetz, —, Bob Good, That's, Lauren Boebert, Pramila Jayapal, Jayapal Organizations: U.S, Capitol, WASHINGTON —, Republican, GOP, New York Republicans, White, Republicans, Democratic Locations: Washington, Hudson Valley, Ukraine

Rep. Nancy Mace, R-S.C., talks with reporters after a meeting of the House Republican Conference in the U.S. Capitol to discus an impeachment inquiry of President Joe Biden on Thursday, September 14, 2023. House Republicans released a bill after a tentative agreement between the far-right Freedom Caucus and the center-right Main Street Caucus, the sources said. If the legislation passes the House, it would resolve one internal problem for Speaker Kevin McCarthy while creating a new one. The bill includes most of the Secure the Border Act of 2023, a wish list of immigration provisions for GOP hardliners, with the exception of provisions requiring the use of E-Verify for employers to check immigration status. Earlier in the day, McCarthy urged his colleagues to avert a shutdown during an appearance on Fox News.

Persons: Nancy Mace, Joe Biden, Kevin McCarthy, Byron Donalds, Dusty Johnson, Scott Perry, Stephanie Bice, Chip Roy, Kelly Armstrong, McCarthy Organizations: House Republican Conference, U.S, Capitol, House Republican, NBC News . House Republicans, Caucus, Republican, Democratic, GOP, Freedom Caucus, Senate, White, House Republicans, Fox News, Biden Locations: Ukraine, Texas

☆ Biden to keep Julie Su on indefinitely as Labor chief despite lack of Senate votes
▼ + stars: | 2023-07-21 | by ( Sahil Kapur | Liz Brown-Kaiser | ) www.cnbc.com time to read: +5 min

The White House plans to use a little-known law to keep Acting Labor Secretary Julie Su in the job even if she fails to win Senate approval, a White House official told NBC News. "Upon Secretary Walsh's departure, Acting Secretary Su automatically became Acting Secretary under its organic statute, not under the Federal Vacancies Reform Act," the White House official said in an email. "As a result, Su is not subject to the time limits of the Federal Vacancies Reform Act and she can serve as Acting Secretary indefinitely." But Su's nomination for labor secretary has since stalled in the Senate, where Democrats control 51 votes and expect unified Republican opposition. "The President's support for Acting Secretary Su is unwavering," the White House official said.

Persons: Julie Su, Walsh's, Su, Marty Walsh, Sen, Joe Manchin, Kyrsten Sinema, hasn't, Joe Biden, Biden, Julie Su's, Bill Cassidy, Kevin McCarthy, Mitch McConnell, Donald Trump, Chuck Schumer, — Elyse Perlmutter, Gumbiner Organizations: Education, Department of Labor, White, Labor, NBC, Federal, White House, NBC News, Senate, Health, Pensions, GOP, Republican, Democratic, Wednesday Locations: Rayburn, Ky

☆ Meet Ethan, an AI robot helping real estate companies decide what properties to buy
▼ + stars: | 2023-07-20 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +3 min

A generative AI tool is designed to help real estate firms decide which properties to buy and sell. The AI tool does the work of a real estate analyst. It then drafts memos recommending which properties real estate companies should buy and sell, Sahil Rattan, Termsheet's chief operating officer, told Insider. The client is looking to snap up commercial real estate properties whose prices have cooled from just a few years ago. Since the AI tool ChatGPT went live to the public in November, businesses in nearly every industry have been racing to capitalize on AI.

Persons: Ethan, Termsheet's, That's, Roger Smith, Smith, Airbnb, Brian Chesky, Chesky, ChatGPT Organizations: Service, RSM Locations: Wall, Silicon

☆ Biden's labor secretary pick may not have the votes. She also may not need them.
▼ + stars: | 2023-07-13 | by ( Liz Brown-Kaiser | Sahil Kapur | ) www.cnbc.com time to read: +7 min

The Senate is stalled on President Joe Biden's pick for secretary of labor, Julie Su, and Democrats face a conundrum on how to proceed. But Su, who currently serves as the acting labor secretary, could just keep running the department anyway. Federal law places no limits on how long Su can serve as acting labor secretary without being confirmed. He said he wants a voice for "both labor and industry" in the labor secretary role. Any Senator who voted to confirm Secretary [Marty] Walsh should vote to confirm Acting Secretary Su, too.

Persons: Julie Su, Joe Biden's, Su, Biden, Sen, Bernie Sanders, Kyrsten Sinema, Jon Tester, Joe Manchin, pushback, there's, Mazie Hirono, haven't, She's, she'll, she's, Mark Kelly, John Hickenlooper, I'm, Su aren't, Tester, you've, Manchin, Bill Cassidy of, Sinema, Tammy Duckworth, Marty, Walsh, We're, Sherrod Brown, Elizabeth Warren of, Chuck Schumer Organizations: Health, Education, Labor, Capitol, Labor Department —, Pensions, Su's, Democrats, HELP, Su's Democratic, White, Department, Democratic Locations: Washington, American, Sens, Hawaii, Bill Cassidy of Louisiana, Sherrod Brown of Ohio, Elizabeth Warren of Massachusetts

☆ Shohei Ohtani: MLB two-way superstar entering ‘uncharted waters’ on brink of record-breaking contract
▼ + stars: | 2023-07-11 | by ( Sahil Kurup | ) edition.cnn.com time to read: +8 min

“The figures you hear mentioned, whether that be $50 million, $60 million, he will set a new standard. This season, he’s currently in the top three in both categories — Ohtani is doing things previously thought to be inconceivable in the sport. Steph Chambers/Getty Images“[Ohtani] increases interest in Japanese baseball — who’s going to be the next Ohtani?” Fellenzer said. It increases interest in Japanese baseball here. Ohtani receives his 2021 American League MVP trophy alongside his teammate and three-time MVP outfielder Mike Trout.

Persons: Shohei Ohtani, –, he’s, Jeffrey Fellenzer, Ohtani, Tim Heitman, “ Sho, ”, He’s, Dusty Baker, Yu Darvish, Hideo Nomo, Scott Miller, “ Nobody, Babe Ruth, Ruth, Steph Chambers, ” Fellenzer, Tommy John, — Ohtani, “, ” Ohtani, Mike Trout, Phil Nevin, we’ve, ” Nevin Organizations: CNN, ” University of Southern, CNN Sport, ”, Pacific League, Major League Baseball, LA Times, Los Angeles Angels, New York, Texas Rangers, ” Houston Astros, peerless, Los Angeles Dodgers, The Dodgers, Hokkaido, Ham Fighters, Dodgers, Seattle Mariners, Angels, MLB, American League, Kyodo, White Sox Locations: ” University of Southern California, America, Hokkaido Nippon, Japan

☆ A Week With the Wild Children of the A.I. Boom
▼ + stars: | 2023-05-31 | by ( Yiren Lu | ) www.nytimes.com time to read: +4 min

Maybe in a few decades from now, we’ll look back at all these seminal A.I. As two analysts at N.E.A., an investment firm, put it in a recent report, generative A.I. But with large language models, incumbents like Google and Microsoft have had a huge head start in both developing the technology and acquiring market share among consumers. Moreover, the capital-intensive nature of training large language models means that smaller companies like OpenAI and Anthropic creating their own large language models have few alternatives beyond making Faustian “partnerships” with tech giants. Beyond the incumbents, one beneficiary might well be the indie hacker, the kind of coder for hire who does niche A.I.

Persons: Mark Cuban, ChatGPT, Diego Basch, “, Sahil Lavingia, ” Organizations: Dallas Mavericks, Twitter, Google, Microsoft, N.E.A Locations: whiteboards, Hillsborough, HF0, S.A.S

☆ What's in the debt limit bill? Key provisions in the Biden-McCarthy deal to avert default
▼ + stars: | 2023-05-30 | by ( Sahil Kapur | ) www.cnbc.com time to read: +2 min

In fiscal year 2024, it would limit military spending to $886 billion and nonmilitary discretionary spending to $704 billion. McCarthy said the deal was "historic," as it would amount to "cutting spending year-over-year for the first time in over a decade." Factoring in adjustments, the White House projects that when veterans funding is set aside, nondefense spending would barely change — with a slight reduction overall from 2023 to 2024. It would eliminate $1.4 billion in IRS funding and shift about $20 billion to nondefense funds. The bill would overhaul the National Environmental Policy Act to streamline permitting for projects; House Republicans tout it as "the first significant reforms to NEPA since 1982."

New Delhi CNN —A 16 year-old girl was brutally stabbed and bludgeoned to death in a busy public alleyway in India’s capital on Sunday, sparking renewed outrage over the safety of women in the country and violence perpetrated by men. Sahil, a mechanic, was detained in Bulandshahr in neighboring Uttar Pradesh state, Ravi Kumar Singh, Deputy Police Commissioner for Outer Delhi, told reporters on Monday. Swati Maliwal, chairperson of the Delhi Commision for Women, told ANI she’s never seen such a frightening incident. The frequency of crimes against women in India also appears to be increasing. “We learn to live with this kind of situation in our country which is very unfortunate,” Bhayana told CNN.

☆ New House bill would block pay for members of Congress if the U.S. defaults
▼ + stars: | 2023-05-18 | by ( Sahil Kapur | ) www.cnbc.com time to read: +1 min

WASHINGTON — A bipartisan bill set to be unveiled Thursday by Reps. Abigail Spanberger, D-Va., and Brian Fitzpatrick, R-Pa., would block members of Congress from getting paid if the U.S. enters debt default or if the government shuts down. The No Pay for Congress During Default or Shutdown Act, shared in advance with NBC News, would withhold lawmakers' pay for the duration of a debt limit breach or lapse in federal funding, an attempt to motivate legislators to prevent either situation. And the proposal, from two politically vulnerable members in competitive districts, represents a populist move to channel voter anger toward Congress, which is strong among both parties' bases. Notably, the Spanberger-Fitzpatrick bill would not permanently prevent lawmakers from getting paid, which would run afoul of the 27th Amendment. Instead, it withholds pay for the duration of a shutdown or default — at least until the end of the session.

☆ GOP Rep. Jim Jordan says he can't comment on Trump's post threatening violence because he's unable to read it without his glasses
▼ + stars: | 2023-03-24 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +3 min

Jim Jordan said he couldn't comment on Trump's statement that there could be "death" and "destruction" if he's indicted. Jordan initially said he hadn't read Trump's Truth Social post. When a reporter showed him the post, Jordan said he couldn't read well without his glasses. NBC News' Sahil Kapur reported that he asked Jordan about his thoughts on Trump's warning, but Jordan said he hadn't seen the former president's Truth Social post. Kapur added that when he showed Jordan Trump's post, the Ohio congressman replied that he couldn't read it well without his glasses.

☆ Senate confirms Eric Garcetti as U.S. ambassador to India
▼ + stars: | 2023-03-15 | by ( Sahil Kapur | Frank Thorp V | ) www.cnbc.com time to read: +3 min

The Senate voted 52-42 on Wednesday to confirm former Los Angeles mayor Eric Garcetti to be the next U.S. ambassador to India. The long-delayed Garcetti nomination grew unusually contentious and sparked some last-minute drama. Several Democrats voted against advancing his nomination, but enough Republicans backed Garcetti to give the U.S. its first permanent ambassador to India under President Joe Biden, more than two years into his term. "The United States-India relationship is extremely important, and it's a very good thing we now have an ambassador," Senate Majority Leader Chuck Schumer, D-N.Y., said. But a group of Republicans voted yes and helped secure the necessary support, including Sens.

☆ Senate panel advances Eric Garcetti's nomination for ambassador to India
▼ + stars: | 2023-03-09 | by ( Sahil Kapur | Frank Thorp V | ) www.cnbc.com time to read: +1 min

Los Angeles Mayor Eric Garcetti speaks during a news conference with fellow mayors and members of Congress outside the U.S. Capitol in Washington, DC. The Senate Foreign Relations Committee voted Wednesday to advance the nomination of Eric Garcetti to be U.S. ambassador to India, sending it to the full chamber for approval. It is not clear when the full Senate will vote on his nomination; Senate Majority Leader Chuck Schumer, D-N.Y., said Tuesday he hoped to bring it up "soon." The Foreign Relations Committee approved Garcetti's nomination in January 2022, but he never got a full Senate vote due to opposition from several senators, including some Democrats. Biden re-nominated Garcetti to the position earlier this year after it lapsed at the close of the last Congress.

☆ Frontier countries to suffer most if Fed rate gets to 6% - analysts
▼ + stars: | 2023-03-09 | by ( Rodrigo Campos | ) www.reuters.com time to read: +5 min

"This mix is generally a net negative for emerging markets." A recent Barclays analysis showed a 50 basis point Fed rate hike would increase interest rate volatility, which "would be more destabilizing initially, as it typically comes with EM FX underperformance, which could trigger a further leg up in EM rates." Analysts at JPMorgan expect the dollar to weaken once the terminal rate stabilizes, but a 50-basis point Fed hike "would be a regime-shift in favor of outsized USD-strength." A 6% Fed rate environment alongside still-hot inflation does make short-term rates in Chile and India as well as Poland, the Czech Republic and Hungary most vulnerable, UBS found. Chinese equities could provide a safe haven in a 6% fed funds rate scenario, UBS said.

Wray's comments Tuesday came after Baier noted that the Energy Department had cited the FBI's earlier findings in its report. A Chinese Foreign Ministry spokesperson, Mao Ning, said earlier Tuesday that China has "always been open and transparent" about Covid. In its assessment, the Energy Department also described the "likely" laboratory-related leak as an "accident," the official added. The Energy Department is one of 18 government departments and agencies that make up the U.S. intelligence community. Sen. Tim Kaine, D-Va., said, "China obviously is very threatened by this," but "the lab leak story is not anti-Chinese.

Facing criticism from Democrats and frustration from Republicans, Sen. Rick Scott, R-Fla., has amended his controversial “Rescue America” plan that called for all federal legislation to sunset. The plan now lists “specific exceptions of Social Security, Medicare, national security, veterans benefits, and other essential services.”The previous language read: “All federal legislation sunsets in 5 years. If a law is worth keeping, Congress can pass it again.”The new language says: “All federal legislation sunsets in 5 years, with specific exceptions of Social Security, Medicare, national security, veterans benefits, and other essential services. Note to President Biden, Sen. Schumer, and Sen. McConnell — As you know, this was never intended to apply to Social Security, Medicare, or the US Navy” (bold included in plan). This isn’t the first time Scott has edited his controversial 12-point plan while under fire.

☆ Biden secures landmark 100th judge, outpacing Trump
▼ + stars: | 2023-02-14 | by ( Sahil Kapur | ) www.cnbc.com time to read: +3 min

WASHINGTON — The Democratic-led Senate confirmed President Joe Biden's 100th federal judge on Tuesday, marking a milestone for the president and Majority Leader Chuck Schumer. On Monday, the Senate confirmed Cindy Chung to the 3rd U.S. She will be Biden's 69th confirmed district court judge. He has also secured Senate approval for 30 circuit court judges and one Supreme Court justice: Ketanji Brown Jackson. Biden and Democrats are outpacing former President Donald Trump and the Republican-led Senate — at this juncture, Trump had secured 85 judges.

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