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☆ South Dakota's Kristi Noem bans the use of TikTok on government devices, says China uses the platform to 'manipulate' Americans
▼ + stars: | 2022-11-30 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

US officials have raised security concerns about TikTok, which is owned by a Chinese company. Kristi Noem signed an executive order restricting the app for officials. The ban will prohibit state officials from using TikTok on government devices, Noem said. Kristi Noem banned the use of TikTok on government devices on Tuesday, saying China uses the social media platform to manipulate Americans. US officials have, for years, raised security concerns about TikTok, which is owned by Chinese company ByteDance.

☆ Top U.S. Democrats cite possible continuing resolution to fund government
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Nov 29 (Reuters) - U.S. congressional leaders agreed to seek a long-term government funding bill rather than stop gap measure, but may need to seek a year-long continuing resolution bill, the Democratic leaders of the U.S. House and Senate said on Tuesday following a White House meeting. U.S. House Speaker Nancy Pelosi and U.S. Senate Majority Leader Chuck Schumer told reporters their meeting with fellow Democrat President Joe Biden and Republican congressional leaders over government funding was productive. Reporting by Steve Holland and Christopher Gallagher; writing by Susan HeaveyOur Standards: The Thomson Reuters Trust Principles.

☆ Cyber Insurers Turn Attention to Catastrophic Hacks
▼ + stars: | 2022-11-28 | by ( James Rundle | ) www.wsj.com time to read: +5 min

While cyber insurance has evolved significantly in recent years, insurers say they might still be unprepared for the fallout from a catastrophic cyberattack. “I think it’s important we stress that the insurance industry has not had a catastrophic event,” said John Coletti, head of cyber reinsurance at Swiss Re. “We have hundreds of years of history of understanding that risk,” Mr. Tiernan said. Part of the challenge for modeling cyber catastrophes is that historical data simply doesn’t exist to produce accurate models, Mr. Tiernan said. “We probably need to pay a little more attention to the assumptions that underpin them.”Write to James Rundle at james.rundle@wsj.com

☆ Apple Has No Easy Road Out of China
▼ + stars: | 2022-11-28 | 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/apple-has-no-easy-road-out-of-china-11669661578

☆ A GOP congressman says TikTok should be banned in the US and is introducing legislation to do so, calling the app 'digital fentanyl'
▼ + stars: | 2022-11-28 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

In a Fox News appearance, Wisconsin Rep. Mike Gallagher renewed calls for a national ban on TikTok. Gallagher called the social media app "digital fentanyl" that is "addicting our kids." Gallagher and Sen. Marco Rubio introduced legislation to ban the app nationwide earlier this month. Last month, additional reports surfaced of an internal team planning to use location information gathered from US users of the TikTok app for surveillance of American citizens. TikTok has been the most downloaded app in the US since 2021, according to data by TechCrunch.

☆ A major hedge fund fears 'hyperinflation' in some developing nations. This is why it could still affect America.
▼ + stars: | 2022-11-26 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +5 min

There are fears that some nations could be struck by hyperinflation, or uncontrolled price rises. The consequences could be disastrous for emerging economies — and have ramifications for the US. While hyperinflation is not about to strike the US, it could affect the American economy nonetheless. Another consequence of that policy was to send money out of emerging economies and back to the US. While Gallagher said hyperinflation wasn't happening yet, the frameworks in place to protect emerging economies from hyperinflation and a debt default were breaking down, leaving countries to fend for themselves.

☆ Superhero Movies Created Bigger Actors. But How Big Is Too Big?
▼ + stars: | 2022-11-25 | by ( Jacob Gallagher | ) www.wsj.com time to read: 1 min

In Hollywood, muscle-bound actors with tree-trunk biceps rule the box office. But just how big is too big? Dwayne Johnson’s macho DC Comics character “Black Adam” has traps large enough that it’s a wonder he can turn his neck to see the bad guys. “The Lost City” actor Channing Tatum brandishes toned pecs the size of football helmets. And why exactly do the sinewy fighter pilots in “Top Gun: Maverick,” the highest-grossing film of 2022, need to look like they could bench an actual plane?

☆ Amazon Can’t Get Peloton Back in the Black
▼ + stars: | 2022-11-24 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Peloton has been working to reduce the number of showrooms it runs, like this one in Walnut Creek, Calif. Even the Everything Store can only do so much. When it comes to Peloton, Amazon can definitely be of some help. The e-commerce giant started selling Peloton’s basic stationary bike in late August, one month before the end of the equipment company’s fiscal first quarter.

☆ Zoom Stuck in Single-Digit Purgatory for a While
▼ + stars: | 2022-11-22 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

He is the founder and leader of the Oath Keepers, which U.S. officials have described as an anti-government group. According to the indictment, Rhodes began encouraging his Oath Keepers followers in November 2020 to "oppose by force the lawful transfer of presidential power." Caldwell has denied he was a member of the Oath Keepers, but prosecutors have said he has strong ties to the group. KENNETH HARRELSONHarrelson, 41, of Titusville, Florida, helped Meggs organize the Florida Oath Keepers and was part of the militia group that stormed into the Capitol building, according to the indictment. JESSICA WATKINSWatkins, 40, of Woodstock, Ohio, led the Ohio team of Oath Keepers at the Capitol on Jan. 6, according to the indictment.

☆ In Sam Bankman-Fried’s T-Shirts, a Soured Sign of Charm
▼ + stars: | 2022-11-22 | by ( Jacob Gallagher | ) www.wsj.com time to read: 1 min

Sam Bankman-Fried, the founder of FTX, quickly became known for his unkempt style. As the rubble settles around Sam Bankman-Fried’s shattered crypto-empire, one fact is clear: The 30-year-old FTX founder wore some seriously ill-fitting T-shirts. Since he splashed into public several years ago, the erstwhile monetary whizkid was rarely seen in anything other than an oversize shirt and equally baggy khaki shorts. Slovenly attire was the centerpiece of the Sam Bankman -Fried brand.

The victims of the shooting at the LGBTQ-friendly Club Q in Colorado Springs include two bartenders, the mother of an 11-year-old girl and two other clubgoers who were enjoying a carefree night before a lone gunman started firing indiscriminately. "He lit up a room, always smiling, always happy and silly," said his mom, Sabrina Aston, who lives in Colorado Springs. We’re mad, angry.”Paugh, who is not part of the LGBTQ community, spent Saturday in Colorado Springs with a female friend. Jessica Fierro said she was at Club Q with her husband, their daughter and friends to celebrate a friend’s birthday. Daniel Arkin reported from New York; Deon J. Hampton reported from Colorado Springs, Colorado.

☆ Disney’s Robert Iger May Find Second Time Isn’t Quite the Charm
▼ + stars: | 2022-11-21 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Robert Iger just got a $12 billion vote of confidence. He will need all of it. That is how much Disney ’s market value jumped Monday morning on the surprise news that Mr. Iger is returning to the Magic Kingdom’s throne. In a statement Sunday night, the company’s board said he will take back the chief executive officer role for two years “to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term.” Bob Chapek , Mr. Iger’s handpicked successor, was unceremoniously escorted from the stage without so much as a quote in the press release.

☆ Top U.S. House Republican McCarthy plans special committee on China
▼ + stars: | 2022-11-20 | by ( ) www.reuters.com time to read: +2 min

"We will put a stop to this and no longer allow the administration to sit back and let China do what they are doing to America." McCarthy also said he would keep his promise to oust a number of Democrats from key House committees, including Representative Adam Schiff, the chairman of the intelligence committee. He said he would also remove Representative Eric Swalwell from the intelligence committee and Representative Ilhan Omar from the foreign affairs committee. China's Embassy in Washington acknowledged the existence of volunteer-run sites in the United States, but said they were not "police stations." Reporting by Chris Gallagher and Leah Douglas; Editing by Daniel Wallis and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ McCarthy says he will form select committee on China if elected speaker
▼ + stars: | 2022-11-20 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Nov 20 (Reuters) - U.S. House Republican leader Kevin McCarthy said on Sunday he would form a select committee on China if he is elected speaker of the House of Representatives. "China is the No.1 country when it comes to intellectual property theft. We will put a stop to this and no longer allow the administration to sit back and let China do what they are doing to America," he told Fox News in an interview. Reporting by Chris Gallagher and Leah Douglas; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

☆ Arizona attorney general wants report on voting machine problems
▼ + stars: | 2022-11-20 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, Nov 20 (Reuters) - Arizona Republican Attorney General Mark Brnovich's office has demanded that Maricopa County officials provide a report on the voting machine problems that caused some delays in the battleground state during this month's midterm elections. A letter dated Saturday by Assistant Attorney General Jennifer Wright calls for county officials to report by Nov. 28 on the specific problems related to the printers at each location as well on how poll workers were trained. Blake Masters lost to Democratic Senator Mark Kelly, and Kari Lake lost the governor's race to Democrat Katie Hobbs. Lake has yet to concede and continues to make unsubstantiated claims about election improprieties on her Twitter feed. Reporting by Chris Gallagher in Washington; Editing by Scott Malone and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

[1/3] U.S. Representative Lauren Boebert (R-CO) waves after speaking at the Conservative Political Action Conference (CPAC) in Dallas, Texas, U.S., August 6, 2022. REUTERS/Brian SnyderNov 18 (Reuters) - U.S. Representative Lauren Boebert, the polarizing Republican who gained national notoriety during her first term with her combative brand of politics, won re-election in a surprisingly close race after her Democratic opponent conceded on Friday. House Republicans will be able to block much of Democratic President Joe Biden's agenda. She went on to defeat a five-term incumbent Republican in that year's primary and won the seat in the general election. On Friday, Boebert wrote on Twitter that Frisch had called her to concede and added, "I look forward to getting past election season and focusing on conservative governance in the House majority.

☆ Chip Outlook Depends on Tech Giants Not Cutting Too Deeply
▼ + stars: | 2022-11-18 | by ( Dan Gallagher | ) www.wsj.com time to read: +1 min

In what has been a confusing week for the chip industry, one thing is clear: its near-term fate may be in the hands of the same tech giants who are under a lot of pressure to slash their own costs. Quarterly results from Nvidia and a production cut warning from Micron, both on Wednesday, seemingly painted two different pictures. Nvidia managed to beat Wall Street’s estimates for its key data center and videogames businesses while also sounding an optimistic note for 2023, because of new products for both segments. Micron, on the other hand, says it plans to slash production in order to produce less DRAM memory next year than it will this year, as part of an effort to address oversupply caused by the rapid deterioration of major chip markets such as PCs and smartphones. Morgan Stanley’s Joseph Moore , who has covered Micron for more than a decade, called the move “unprecedented” in a note to clients.

☆ Hakeem Jeffries announces bid to succeed Nancy Pelosi as House Democratic leader
▼ + stars: | 2022-11-18 | by ( Bryan Metzger | Kayla Gallagher | ) www.businessinsider.com time to read: +3 min

Rep. Hakeem Jeffries of New York has officially announced his bid to become House Democratic leader. Pelosi announced Thursday that she will not seek re-election to a leadership role but will stay in Congress. He has served as the leader of the House Democratic Caucus since 2019 and has long been seen as an heir to Pelosi. If selected to lead his party, Jeffries, who is 52, would create a massive generational shift in the House's democratic leadership. "The time has come for a new generation to lead our magnificent House Democratic Caucus," said Pelosi.

Jennifer Schulp, a director at the libertarian think tank Cato Institute, said the Republicans' unexpectedly tight margin of control in the House will not prompt them to tone down their rhetoric. 'REGULATORY EXUBERANCE'Patrick McHenry, a North Carolina Republican in line to lead the House Financial Services Committee in the new Congress, said in an emailed statement to Reuters before the election that Biden's administration "is pushing its agenda through financial regulators because they don’t have the votes to pass it in Congress." "Committee Republicans will work together to conduct appropriate oversight of activist regulators and market participants who have an outsized impact," McHenry said. "The appropriations process in the House will be a messaging exercise, and it's less worrisome since the Democrats will have the Senate," McGannon said. While those Senators will not be in the majority, House Republicans have also criticized companies on ESG-related matters.

Nancy Pelosi announced Thursday she will not be seeking re-election as House Democratic leader. Dozens of politicians, Republican and Democratic alike, expressed their gratitude for Pelosi's leadership. President Joe Biden greets Speaker of the House Nancy Pelosi, and Democratic Caucus Chair Hakeem Jeffries, before Biden addressed the House Democratic Caucus Issues Conference in Philadelphia earlier this year. "Nancy Pelosi's historic ascension to become the first woman Speaker of the House will forever inspire our nation on the power of possibility," he said. "Look I've been on both sides of Nancy Pelosi, it's much more pleasant when you're on the good side of her.

☆ Google’s Heads Need to Make It Count
▼ + stars: | 2022-11-16 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Even today, Google has no problem making plenty of money. But the fact that it is getting a little harder is still painful. The internet giant’s parent company, Alphabet Inc., generated operating income of $78.6 billion for the trailing 12-month period ended September—the third-highest among S&P 500 companies over that span, according to S&P Global Market Intelligence. But margins have taken a hit as a big jump in costs has run headlong into a broad-based slowdown in online advertising. The operating margin for the third quarter came in at 24.8%—a drop of nearly 8 percentage points from a year earlier, as the company added 12,765 workers to its rolls in the most recent period.

Sen. Linsey Graham, a Trump ally, told reporters he voted "for change." "I welcome the contest," McConnell told reporters after Scott announced his bid. "I voted for change," he told reporters. Earlier this month during an interview with Fox News host Martha McCallum, Scott denied rumors spread by Trump that Scott "hates" McConnell. So we acquainted our members with the tools they have," McConnell told reporters at the US Capitol, adding, "I think that'll be used more often.

☆ ASML Plays the Very Long Chip Game
▼ + stars: | 2022-11-15 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

ASML has one of the best spots in a temperamental industry. A lousy year or even two is no reason for the Dutch maker of chip-manufacturing equipment to shelve some ambitious expansion plans. Business isn’t great for semiconductor manufacturing gear right now—or at least it isn’t going to be. Chip makers are pulling back on their capital-spending plans quickly as their own businesses get hit by slumping demand in key markets such as PCs and smartphones. For 2023, the association projects a 2% decline.

☆ Biden offers Poland full U.S. support in blast investigation
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: 1 min

Nov 15 (Reuters) - President Joe Biden offered his Polish counterpart Andrzej Duda full U.S. support with the country's probe into a blast that killed two people near the border with Ukraine, the White House said. "President Biden offered full U.S support for and assistance with Poland’s investigation," the White House said after the pair spoke. NATO allies are investigating unconfirmed reports the explosion was caused by stray Russian missiles. Reporting by Eric Beech in Washington and Costas Pitas in Los Angeles; Editing by Chris GallagherOur Standards: The Thomson Reuters Trust Principles.

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