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☆ We asked House lawmakers about scandal-plagued Rep. George Santos. Most Republicans want nothing to do with him.
▼ + stars: | 2023-01-14 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +18 min

But Santos is clearly a problem for House Republicans. But three days later, Miller — who actually represents Ohio's 7th district — became the eighth House Republican to publicly call for Santos to resign. said Republican Rep. Ralph Norman of South Carolina, who said that Santos "seems nice" even as he appeared unaware of the extent of his controversies. At a press conference on Thursday, House Minority Leader Hakeem Jeffries pointedly declared that Santos was "an issue that Republicans need to handle." Santos and Ocasio-Cortez briefly spoke on the sidelines of a gaggle of GOP lawmakers on the House floor on Wednesday, January 4.

☆ One more thing for Democrats to fix: the Republican Party
▼ + stars: | 2023-01-13 | by ( Neal Urwitz | Neal Urwitz Is A Public Relations Executive In Washington | ) www.nbcnews.com time to read: +6 min

And that, ironically, means Democrats must focus on fixing the Republican Party. And the current iteration of the Republican Party would strip away American democracy. Is it someone who is likely to make the Republican Party more or less responsible? Will that Republican Party abide by American laws and American democracy? Democracy will only survive if Democrats have done our part to create a responsible Republican Party.

☆ What Clothes to Buy When You’re Expecting a Recession
▼ + stars: | 2023-01-13 | by ( Jacob Gallagher | ) www.wsj.com time to read: 1 min

At Pitti Uomo, the world’s largest men’s fashion trade show, vendors are betting that even in the face of economic downturn, deep-pocketed luxury clients will still have plenty of capital to splash around on alpaca-wool cardigans and suede loafers. FLORENCE, Italy—At the semiannual trade show here that kicks off men’s fashion week, buyers, editors and orange-fedora-wearing hangers-on paced suit-filled booths on Tuesday as 4,000 miles away, the World Bank slashed economic forecasts. Global growth, the bank predicted from Washington, D.C., will slow to 1.7% in 2023, down from an estimate of 3% growth in June—leaving only the narrowest margin to avoid recession.

☆ GOP House targets China, abortion, IRS funding in McCarthy's first week as speaker
▼ + stars: | 2023-01-13 | by ( Christina Wilkie | ) www.cnbc.com time to read: +4 min

Speaker of the House Kevin McCarthy, R-Calif., conducts a news conference in the U.S. Capitol's Statuary Hall on Thursday, January 12, 2023. WASHINGTON - The new Republican House majority used its first full week in office to quickly pass six pieces of legislation that showcased the party's political priorities. Following Republicans' historic intraparty battle for the speakership earlier this month, GOP House Speaker Kevin McCarthy's first week was an exercise in party unity. "Voters have elected George Santos," McCarthy told reporters Thursday in the Capitol. Rather than move to expel Santos, McCarthy appeared to put his faith in a House Ethics Committee investigation of the lawmaker.

Rep. Judy Chu, D-Calif., the chair of the Congressional Asian Pacific American Caucus (CAPAC), said she has personally spoken to Jeffries and recommended that Rep. Andy Kim, D-N.J., should be the ranking member. “The Republicans made it very clear that the committee is primarily focused on … counter intelligence and economic espionage issues which have been the focus of my own work, especially on the Intelligence Committee,” Krishnamoorthi said in an interview. Rep. Elissa Slotkin, D-Mich., a former CIA analyst who is eyeing a possible Senate bid in 2024, has also expressed interest in the top role on the China panel. But while CAPAC is divided, its members agree that the ranking member of the new panel should be Asian American. Think about that," said one CAPAC member.

☆ Disney’s Magic Kingdom Needs a New Spellbook
▼ + stars: | 2023-01-12 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/disneys-magic-kingdom-needs-a-new-spellbook-11673544699

☆ ‘Yellowstone’ Show Has Suburbanites Dressing Like Cattle Ranchers
▼ + stars: | 2023-01-12 | by ( Jacob Gallagher | ) www.wsj.com time to read: 1 min

Ryan Capalbo’s life is nothing like that of a rough and tumble cowboy. The 34-year-old spends his days toiling over foster care cases, not tending to cattle. And he lives in Dobbs Ferry, N.Y., where people ride commuter trains, not horses.

☆ Apple Needs to Take Its Time With Augmented Reality
▼ + stars: | 2023-01-12 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Much like the Apple Watch touted by CEO Tim Cook in the past, Apple’s AR device might be shown off months ahead of its retail launch. Apple ‘s real world will likely be a harsh one this year. That doesn’t mean the company should rush into a virtual one. Apple’s long-rumored augmented reality headset may finally see the light of day soon. Bloomberg News also reported over the weekend that the company is planning to unveil the product this spring.

☆ Why experts worry TikTok could add to mental health crisis among US teens
▼ + stars: | 2023-01-11 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +6 min

TikTok is far from the only social platform to be scrutinized by lawmakers and mental health experts for its impact on teens. That’s problematic because the more time a teen spends on social media, the more likely he or she is to be depressed. Psychologists say as smartphones and social media grew around 2012, so did the rate of depression among teens. But teens say it’s not the most egregious videos that keep them engaged. The majority of teens say social media can be a space for connection and creativity, according to Pew Research.

☆ Janet Yellen is staying put to oversee billions in climate spending
▼ + stars: | 2023-01-10 | by ( Andrea Shalal | ) www.reuters.com time to read: +5 min

WASHINGTON, Jan 10 (Reuters) - U.S. Treasury Secretary Janet Yellen is digging in to oversee billions of dollars in federal climate and infrastructure spending that she believes will transform the economy, close associates say, defying demands from Republicans to step down. Yellen told CNBC late last year that she was "in good company" in misjudging inflation, and that Biden's COVID spending plans were needed to boost the recovery. White House and Treasury officials say inflation was spurred by supply chain problems and exacerbated by Russia's invasion of Ukraine, but note that inflation is now easing and investments in manufacturing will reduce future supply chain log-jams. Treasury had no comment on the Republican concerns, but officials have previously said the department's policies are overdue and urgently needed. In addition to advancing Biden's domestic climate agenda, Treasury officials say another key priority for Yellen in 2023 will be advancing reforms of the World Bank and other multilateral lenders to free up more resources for countries to address climate change and other priorities.

"We had such a hard time, and I would rather have more Chinese people come than the government restricting their entry so I can do business." "Tour bus operators who have had their vehicles idly parked for over three years are now gearing up for (bus) inspections," said Thai Tour Bus Association President Wasuchet Sophonsatien. Thailand, Japan, the United States, South Korea, Australia, Macao, Singapore, Hong Kong and Taiwan were the most-searched destinations. Yue Hua Entertainment Korea, which manages Tempest, did not respond to a request for comment. "The pandemic outbreak on the mainland is still vigorous and needs time to recover, while domestic consumption remains weak on the mainland."

☆ GOP-led House creates a new committee to tackle threats from China, McCarthy's first big bipartisan win
▼ + stars: | 2023-01-10 | by ( Christina Wilkie | ) www.cnbc.com time to read: +1 min

Speaker of the House Kevin McCarthy, R-Calif., is seen outside a House Republican Steering Committee meeting to select committee chairs in the U.S. Capitol Monday 9, 2023. WASHINGTON — Members of the U.S. House from both the Democratic and Republican parties voted overwhelmingly Tuesday to establish a new select committee to address the multifaceted threats that China poses to the United States. The new panel will be called the House Select Committee on the Strategic Competition Between the U.S. and the Chinese Communist Party. According to the resolution creating the new select committee, its powers will be largely investigative, not legislative. There will 16 members on the committee, nine Republicans and seven Democrats.

☆ New U.S. House creates committee focused on competing with China
▼ + stars: | 2023-01-10 | by ( Patricia Zengerle | ) www.reuters.com time to read: +2 min

The House voted 365 to 65 in favor of a resolution establishing the Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party, which will investigate the issue and make policy recommendations. Democratic Representative Jim McGovern, a co-chair of the Congressional-Executive Commission on China, a grouping of House members and senators which studies China policy, said he would vote to create the select committee despite concerns it might be overly partisan. This will be a bipartisan committee," McCarthy said in remarks urging the House to back the bill. He said the committee would address issues such as bringing jobs back from China to the United States, securing intellectual property and bringing supply chains back to the country. The new committee will be chaired by Republican Representative Mike Gallagher.

☆ The House of Representatives will have more guys named 'Mike' than women chairing committees under the new Republican majority
▼ + stars: | 2023-01-10 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

House Republicans have announced a new slate of committee chairs for the new Congress. Six of the committees will be chaired by a man named Mike or Michael. On Monday, House Republicans sorted out a number of contested chairmanships, and House Majority Steve Scalise released a list of recommendations for chairmanships that were ratified by the conference on Tuesday. The result: men named "Mike" will outnumber women two-to-one among committee chairs. Under Democratic leadership in the previous Congress, 7 House committees were chaired by women.

☆ Google Might Need to Be Un-Google-Like
▼ + stars: | 2023-01-09 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Google doesn’t like to do layoffs. The internet giant has been avoiding the tech layoff trend so far. Salesforce announced cuts affecting about 8,000 employees last week, following a raft of reduction plans from a swath of tech players. Layoffs are falling especially hard on Google’s main competitors in the online advertising business. Combined cuts at Facebook -parent Meta Platforms , Amazon.com , Snapchat’s parent Snap and Twitter total about 34,000 workers, according to disclosures from the companies and reporting by The Wall Street Journal.

Share this -Link copiedMcCarthy elected speaker in 15th round McCarthy was elected House speaker Saturday shortly after midnight on the 15th ballot. Share this -Link copiedHouse reconvenes to hold 14th round of speaker votes The House has reconvened to begin the 14th round of speaker votes. Read the rest of the story, The House speaker election, in three charts. Share this -Link copiedHouse begins 13th round The House is beginning the 13th round of speaker votes. At least 14 House GOP flip to support McCarthy in twelfth speaker vote Jan. 6, 2023 01:52 Share this -Link copied

There are no active House lawmakers. Other business in the House is paralyzed, as well, and the rules that previously governed the lower chamber have expired. Some members worry they and their staff members will stop receiving paychecks if the new Republican majority remains unable to elect a speaker. Incoming House Rules Committee Chair Tom Cole, R-Okla., said members are expecting to get paid through Jan. 13. Some lawmakers are asking questions about whether their staffers will be covered by health care if the Republican impasse drags on.

Lawmakers on both sides of the aisle are sounding the alarm about how a nonfunctional House hurts national security. "If a national security crisis arises, the President of the United States is right down the street," he said. "I'm informed by House Security that, technically, I don't have a clearance," Gallagher, a former Marine Corps intelligence officer, told reporters. "I'm a member of the [House Intelligence Committee], I'm on the Armed Services Committee, and I can't meet in the SCIF to conduct essential business." "President Xi says, 'Our system of governance works because democracy don't,'" Bacon, a Nebraska Republican, told reporters.

☆ Everything that could go wrong as the House speaker fight leaves the chamber leaderless
▼ + stars: | 2023-01-06 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

House lawmakers are still not agreed on who will lead them. The lack of a speaker of the House has some very real consequences. White House National Security Council spokesperson John Kirby tamped down on any "significant risks" related to the delay. As we indicated above, the House can't pass its rules until it has a speaker. But House lawmakers have complained that they are unable to effectively coordinate due to their current unofficial status.

☆ Amazon Needs to Become a Slower-Growth Wonder
▼ + stars: | 2023-01-05 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Amazon’s share price peaked during CEO Andy Jassy’s first week on the job in July of 2021 and fell 50% in 2022. Andy Jassy ‘s first full year running Amazon has been one for the books—and not in a good way. A macroeconomic slowdown coming just as Amazon has been trying to absorb a major expansion of its fulfillment capacity has proved especially unfortunate for the e-commerce company. When it reports full results for 2022 later this month, Amazon is expected to show its first-ever year of percentage revenue growth in the single digits, while operating margins have fallen by more than half from the previous year.

☆ Members of congress say they are unable to receive classified information as Kevin McCarthy loses 6th vote to become House speaker in 2 days
▼ + stars: | 2023-01-05 | by ( Azmi Haroun | ) www.businessinsider.com time to read: +4 min

Members of Congress are speaking out about the myriad issues caused by the House speaker vote. Following Rep. McCarthy's sixth failed bid on Wednesday, there are zero sworn members of Congress. There are currently no members of the Congress, as swearing-in ceremonies have been delayed while the quest to elect a House speaker has dragged on. And on Wednesday, several members of Congress said that the procedural hold-up and GOP infighting have restricted their access to classified information and key national security intel. By Wednesday evening, McCarthy had failed in six consecutive bids to become House speaker.

☆ Salesforce Under Its Biggest Cloud Yet
▼ + stars: | 2023-01-04 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Salesforce is hardly the only tech company to have overshot in its postpandemic planning. But the correction still comes at an especially painful time for the cloud software pioneer. Salesforce announced in a regulatory filing Wednesday morning that it will be laying off about 10% of its employees, which amounts to around 8,000 workers based on the company’s last-reported head count. The company also says it is working to reduce its real estate footprint, though it shared no other details on the latter. Salesforce’s 61-story headquarters completed in 2018 for more than $1 billion has turned into a gleaming landmark among near-empty office spaces in San Francisco’s main business district.

It absolutely is,” said former Rep. Mick Mulvaney, R-S.C., a co-founder of the House Freedom Caucus, home to the rebels. It foreshadows more divisions in the narrow House majority, which will have to compromise with a Democratic-controlled Senate and President Joe Biden to keep the government functioning and avert economic crises. 2 GOP Rep. Steve Scalise of Louisiana pleaded with colleagues to support McCarthy so the House could begin to advance conservative goals like bolstering border security and energy independence. But we can’t start fixing those problems until we elect Kevin McCarthy as our next speaker,” he said on the floor. “This is going to be everyday in the House Republican majority,” Sen. Chris Murphy, D-Conn., said on Twitter.

☆ Fans Search for Coveted Film Merch—Five Decades After a Movie’s Release
▼ + stars: | 2023-01-03 | by ( Jacob Gallagher | ) www.wsj.com time to read: 1 min

It’s been 48 years since “Dog Day Afternoon” hit theaters. But as of last week, you could purchase a brand-new hat reprising the film’s all-caps poster, down to its memorable tagline: “Incredible But True!”This hat is not officially licensed merch for Sidney Lumet’s twisty crime drama. It is an unsanctioned homage made by And After That, a teensy McAllen, Tx.-based clothing company that inventively—and often cheekily—pays homage to movies and bands with shirts, T-shirts and hoodies. Warner Bros. Discovery , the merchandising rights holder of “Dog Day Afternoon,” did not comment.

☆ Reinsurers cut Russia, Ukraine from policies on Jan 1 -broker
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +2 min

LONDON, Jan 3 (Reuters) - Reinsurers are excluding Russia, Ukraine and Belarus from policies offered to their insurance clients and cutting back their exposure to U.S. hurricanes, a report from reinsurance broker Gallagher Re (AJG.N) showed on Tuesday. Reinsurers insure insurers and Jan. 1 is the most important date in the calendar for policy renewals. Some insurers have already backed away from providing cover in Russia, Ukraine and Belarus due to risk of sanctions or of steep losses. Without reinsurance, insurers are likely to be even more reluctant to provide cover for Russia or Ukraine, industry sources say. Aviation reinsurance rates rose by as much as 200% on Jan. 1 for some types of business, Gallagher Re said.

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