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☆ China's EV slowdown drags down Nvidia's 'next billion-dollar business'
▼ + stars: | 2023-08-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Nvidia automotive segment primarily sells chip systems for assisted driving. Colette Kress Nvidia's Chief Financial OfficerThe $253 million segment revenue was also well below the $309.3 million forecast by a FactSet analyst poll. Although still a fraction of the chipmaker's business, automotive revenue has grown rapidly from just over $100 million a quarter two years ago. Bloomberg | Bloomberg | Getty ImagesCounterpoint's Wang pointed out that Nvidia's products are concentrated in the high-end automotive segment. Analog Devices on Wednesday reported automotive revenue of $747.6 million for the three months ended July 29, down by 5% from the prior quarter.

Persons: Jensen Huang, Alex Wong, Huang didn't, Colette Kress, Brady Wang, Xpeng, Xpeng's, Xinzhou Wu, Xiaopeng, Huang, Counterpoint's Wang, David Wong Organizations: Nvidia, Getty, Local, Counterpoint Research, Nvidia Nio, Bloomberg, NVIDIA, Robotics, Nomura, Qualcomm, China Passenger Car Association Locations: BEIJING, China, Xpeng, Santa Clara , California

☆ Meet the New IRS, Same as the Old IRS
▼ + stars: | 2023-08-18 | by ( J.D. Vance | ) www.wsj.com time to read: 1 min

IRS Commissioner Daniel Werfel speaks at an event in McLean, Va., Aug. 2. Photo: Alex Wong/Getty ImagesThe Internal Revenue Service recently tried to reinvent itself. Earlier this year, outfitted with an additional $80 billion and 87,000 new agents, the agency unveiled a new set of priorities for the next eight years. Its Strategic Operating Plan promises to “deliver transformational change for taxpayers” while improving services and quickly resolving enforcement issues. That may sound too good to be true—because it is.

Persons: Daniel Werfel, Alex Wong Organizations: Internal Revenue Service, ” Locations: McLean , Va

Brian Kemp speaks to voters during a campaign stop at Williamson Brothers Bar-B-Q on November 3, 2022 in Marietta, Georgia. When Kemp refused to overturn Biden’s 2020 win in Georgia, Trump demonized him and recruited former Sen. David Perdue to challenge Kemp in the 2022 GOP gubernatorial primary. Kemp also testified last year before the Atlanta-area special grand jury probing efforts by Trump to overturn the 2020 election in Georgia. Trump said Wednesday night that he wouldn't sign the pledge to support whoever the Republican nominee is because "I can name three or four people that I wouldn’t support for president." Despite that, Kemp recently told CNN he will “certainly” endorse the 2024 Republican nominee, even if it is Trump.

Persons: Brian Kemp, Alex Wong, Donald Trump, Kemp, Joe Biden, Trump, Sen, David Perdue, Stacey Abrams, Fani Willis, Vivek Ramaswamy Ron DeSantis Nikki Haley CNN's Dana Bash Organizations: Williamson, Georgia Gov, Republican, Biden’s, Democratic, Atlanta -, CNN, GOP Locations: Marietta , Georgia, Georgia, Atlanta, Fulton County, Peach State, Trump

☆ Wild transcripts show Rudy Giuliani made lewd comments to his rape accuser, insulted Jewish mens' genitals, and accused Matt Damon of being gay
▼ + stars: | 2023-08-02 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

These are my tits," Giuliani told Dunphy on March 12, 2019, according to one transcript filed as a court exhibit. "I want to own you, officially," Giuliani told Dunphy according to a March 4, 2019 transcript, punctuated by her affirmative response. "I can't think about you or I get hard," Giuliani told Dunphy, according to the transcript. We've had this like, affair for two years and I'm friendly with her husband," Giuliani told Dunphy, according to the transcript. According to other transcripts, Giuliani claimed Jewish men have small penises compared to Italians (Giuliani is Italian) and complained about Jewish religious holidays.

Persons: Rudy Giuliani, Giuliani, Noelle Dunphy, Donald Trump, Dunphy, Mr, Maria Ryan, Justin Kelton, Dunphy's, Giuliani didn't, sapiosexuality, Trump, Kelton, Alex Wong, Ryan, We've, Ryan couldn't, Bob, Michael Bloomberg, Matt Damon, Damon Organizations: Service, New, FBI, Bloomberg Locations: Wall, Silicon, New York, Italian, Egypt

☆ Trump indictment reveals new details of Jan. 6, pressure campaign to subvert election
▼ + stars: | 2023-08-02 | by ( Dan Mangan | ) www.cnbc.com time to read: +7 min

Clark floats Insurrection Act ideaOn the same day he accepted Trump's job offer, Clark spoke with a deputy White House counsel. "The previous month, the Deputy White House Counsel had informed [Trump] that 'there is no world, there is no option in which you do not leave the White House [o]n January 20th,'" the indictment notes. On Jan. 3, 2021, the counsel tried to dissuade Clark from taking the job as acting AG, the indictment says. Clark responded, "Well, [Deputy White House Counsel], that's why there's an Insurrection Act." President Donald Trump listens as Vice President Mike Pence speaks during a daily briefing of the White House Coronavirus Task Force in the Rose Garden at the White House, April 15, 2020.

Persons: Donald Trump, Joed Viera, Joe Biden, Jeffrey Clark, Trump, Clark, Mike Pence, Biden, Matt Gaetz's Jan, Bill Clark, —, Rudy Giuliani, Giuliani, Donald Trump's, Jim Bourg, Reuters Giuliani, Mark Milley, Mark Wilson, Milley, it's, Pence, Alex Wong Organizations: Afp, Getty, Justice, Republican, Electoral, Trump, Capitol, Cq, Inc, White, DOJ, National Guard, New York, U.S . Capitol, U.S, Congress, Reuters, United States, Joint Chiefs, Staff, Chiefs, Electoral College, Coronavirus, Force Locations: Erie , Pennsylvania, United States, Washington, —, Jan

☆ Biden administration launches new SAVE student loan repayment plan. Here's how to apply
▼ + stars: | 2023-07-31 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

U.S. President Joe Biden, joined by Education Secretary Miguel Cardona, speaks on student loan debt in the Roosevelt Room of the White House August 24, 2022 in Washington, DC. Alex Wong | Getty Images News | Getty ImagesHow the SAVE student loan plan worksInstead of paying 10% of their discretionary income a month toward their undergraduate student debt under the previous Revised Pay As You Earn Repayment Plan, or REPAYE, plan, borrowers will eventually be required to pay just 5% of their discretionary income under the SAVE plan. "The SAVE plan is very generous to borrowers, almost like a grant after the fact," said higher education expert Mark Kantrowitz. Still, the Education Department says borrowers who sign up for the plan this summer will have their application processed before student loan repayments resume in October. How to apply for SAVE, and what info you needYou can apply for SAVE directly on the Education Department website.

Persons: Joe Biden, Education Secretary Miguel Cardona, Alex Wong, Mark Kantrowitz, Kantrowitz Organizations: Education Secretary, Getty, SAVE, Education Department Locations: Washington , DC

☆ Michael Cohen's involvement with Donald Trump racked up his legal bills. He wants the Trump Org to pay them.
▼ + stars: | 2023-07-18 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +9 min

Michael Cohen racked up millions of dollars in legal fees because of his involvement with Trump. But we'll get the second-best thing: Donald Trump Jr.Daddy Trump isn't obligated to show up. Trump Organization lawyers have agreed to produce Donald Trump Jr., an executive at the Trump Organization, as a witness in the case. Donald Trump Jr. is expected to testify on Monday or Tuesday, or both, according to a letter filed by Trump Organization lawyers ahead of the trial. Former President Donald Trump sits at the defense table with his criminal defense team in a Manhattan court.

Persons: Michael Cohen, he's, Mueller, Stormy Daniels, Donald Trump, Cohen, Trump, Cohen hasn't, Robert Mueller's, Stephanie Clifford, Donald Trump's, Lanny Davis, Mary Altaffer, doesn't, Daniels, He's, Will Trump, Donald, we'll, Donald Trump Jr, Daddy Trump, — Cohen, —, wasn't, it's, Joel Cohen, Judge Cohen, King, Kimberly Guilfoyle, Alex Wong, Hunter Winstead, Michael Cohen's, Alan Garten, Jay Sekulow, Alan Futerfas, isn't Cohen, Seth Wenig, Pool Cohen, Cohen's, Isn't Trump, Jack Smith's, Fani Willis Organizations: Trump, Trump Organization, Service, FBI, New York, AP, Republican Locations: Wall, Silicon, Manhattan, Florida, Fulton County, Georgia

☆ China and Taiwan loom large behind Ukraine at NATO summit
▼ + stars: | 2023-07-11 | by ( Brad Lendon | ) edition.cnn.com time to read: +6 min

Seoul, South Korea CNN —The presence of four Asia-Pacific leaders at the NATO summit this week suggests that Ukraine is not the only major security issue on the agenda of the European-North American defense alliance. For its part, China says Taiwan is an internal matter and it sees no role for countries in the region, let alone NATO members, to be interfering. Japanese Prime Minister Fumio Kishida waves before departing on a government plane on July 11, 2023, for the NATO summit. US President Joe Biden meets with NATO Secretary General Jens Stoltenberg in the Oval Office of the White House on June 13, 2023. “NATO is a regional alliance of Europe and North America, but the challenges we face are global,” he wrote, noting the summit invitations for the Pacific leaders.

Persons: Jens Stoltenberg, ” Stoltenberg, ”, “, Wang Wenbin, Fumio Kishida, Yoon Suk Yeol, Anthony Albanese, Chris Hipkins, Fumio, Stoltenberg, Joe Biden, Kim Sun, Yoon, Alex Wong, Emmanuel Macron, Boris Pistorius Organizations: South Korea CNN, NATO, Foreign Affairs, Communist Party, Communist, Foreign, CNN, Japanese, Australian, New Zealand, Pacific ., Kyodo, US Institute of Peace, Pacific, White, South Korean, White House, NHK, Pacific . British, German Locations: Seoul, South Korea, Asia, Pacific, Ukraine, Beijing, China, Taiwan, Japan, Europe, South, Vilnius, Lithuania, “, lockstep, Paris, North American, France, Tokyo, North America, Guam, Canadian, American, Berlin

☆ A showdown with one senator over hundreds of generals and admirals is set to ripple through the US military
▼ + stars: | 2023-07-11 | by ( Christopher Woody | ) www.businessinsider.com time to read: +13 min

Waiting to replacing him is Gen. Eric Smith, and he will continue waiting until one senator lifts holds on the promotions of more than 250 generals and admirals. Tuberville's hold targets uniformed military officers over a policy set by the US military's civilian leadership, diverging from the longstanding manner in which members of Congress have expressed displeasure with such policies. Kelsey Dornfeld"Uniformed military officers do not set policy. 'We will lose talent'Maj. Gen. Eric Smith receives his three-star rank insignia during a ceremony in Okinawa in August 2018. "It is the personal development, it is the family understanding and predictability" that will be affected, Adm. John Aquilino, head of US Indo-Pacific Command, told senators in April.

Persons: Sen, Tommy Tuberville, Tuberville, David Berger, Eric Smith, Biden, —, Katherine Kuzminski, Sergeant, Marine Corps Troy Black, Kelsey Dornfeld, They're, Kuzminski, Berger, It's, Defense Lloyd Austin III, Austin, that's, Smith, Olivia G, Ortiz, Benjamin Northcutt, Christopher Cavoli, Michael Gilday, Lisa Franchetti, MCS2 La’Cordrick Wilson, John Aquilino, James McConville, McConville, Frank Kendall, Charles Brown Jr, Kendall, Brown, Drew Angerer, Mitch McConnell, Jack Reed's, Defense Lloyd Austin, Mark Milley, Alex Wong, Reed, Elizabeth Warren Organizations: Service, US Marine Corps, Pentagon, Department, US, Military, Veterans, Center, New, New American Security, Marine Corps, Staff, Uniformed, Defense, United States, Washington DC, Senate Armed Services Committee, US Army Europe, US Army, US European Command, NATO's Military, Naval Reactors, US Navy, Pacific Command, " Air Force, Savannah, Joint Chiefs of Staff, Capitol, Republican, CNN, Joint Chiefs Locations: Wall, Silicon, New American, Okinawa, Germany, Cavoli, Pacific, California, South Korea, Alabama

☆ Here’s a list of people Putin is suspected of having killed
▼ + stars: | 2023-06-27 | by ( Jeremy Wilson | Taylor Ardrey | ) www.businessinsider.com time to read: +7 min

Putin, a former lieutenant colonel of the KGB and ex-head of the FSB, has been suspected of assassinating critics. Here's a list of people who have been critical of Putin and the Russian president is suspected of assassinating:Top editors give you the stories you want — delivered right to your inbox each weekday. Stanislav Markelov and Anastasia BaburovaHuman-rights lawyer Stanislav Markelov represented Politkovskaya and other journalists who had been critical of Putin. Mark Wilson/Getty ImagesAnna Politkovskaya was a Russian journalist who was critical of Putin. He was killed in 2004 in a drive-by shooting in an apparent contract killing, according to the Committee to Protect Journalists.

Persons: Putin, Here's, —, Pavel Antov, Vyacheslav Kartukhin, Vladimir Putin, Ravil, MIKHAIL KLIMENTYEV, Ravil Maganov, Lukoil, Dan Rapoport, Mikhail Lesin, Lesin, Boris Nemtsov, Alex Wong, Boris Nemtsov Boris Nemtsov, Boris Yeltsin, Putin —, Boris Berezovsky Boris Berezovsky, Berezovsky, Natalia Estemirova Natalia Estemirova, Stanislav Markelov, Anastasia Baburova, Alexander Litvinenko Alexander Litvinenko, Alexander Litvinenko, Litvinenko, Andrei Lugovoi, Dmitry Kovtun, Mr Patrushev, Anna Politkovskaya, Mark Wilson, Paul Klebnikov Paul Klebnikov, Sergei Yushenkov Sergei Yushenkov Organizations: Service, BBC, Regional, United Russia, of Oil Company, Kremlin, SPUTNIK, Getty Images, CNBC, Daily, Police, Russia, FBI, Berkshire, British, Politkovskaya, Russian Embassy, Forbes, Protect Journalists, Liberal, Justice Ministry Locations: Russian, Rayagada, India, Ukraine, Moscow, Russia, Washington ,, Florida, Washington, DC, Sochi, Britain, Chechnya, Politkovskaya, London, Liberal Russia

☆ Microsoft faces off against US government over Activision deal, with top execs set to testify
▼ + stars: | 2023-06-22 | by ( Brian Fung | ) edition.cnn.com time to read: +5 min

It will also impact enormously popular gaming franchises such as “Call of Duty” and “World of Warcraft,” which Activision owns and would be transferred to Microsoft under the deal. Also testifying will be the top financial executives from both companies; senior leaders from Microsoft’s Xbox division; the CEO of Microsoft Gaming, Phil Spencer; and a vocal critic of the deal, Sony gaming CEO Jim Ryan. The clash comes as Microsoft and Activision face down a contractual July 18 deadline to consummate the deal. A crucial moment for Microsoft and the FTCThe FTC lawsuit has put Microsoft under the harshest antitrust scrutiny in the US in more than two decades. Microsoft CEO Satya Nadella, Activision CEO Bobby Kotick and Sony Gaming CEO Jim Ryan are all expected to testify.

Persons: Phil Spencer, Jim Ryan, Satya Nadella, Bobby Kotick, Drew Angerer, Kevin Dietsch, Alex Wong, “, Lina Khan, Khan, Meta Organizations: CNN, Microsoft, Activision, Xbox, Microsoft Gaming, Sony, Federal Trade Commission, FTC, Sony Gaming, New, Nintendo, Nvidia, European Union, Facebook, Meta Locations: New Zealand, European, United States

☆ The stock market is right back to where it started when the Fed first started raising interest rates
▼ + stars: | 2023-06-16 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

After much pain and a brutal bear market, the S&P 500 has erased all of the losses from the past year and then some. It's true: the S&P 500 has erased all of its losses since the Fed's first rate hike in March 2022. What's your stock market outlook for the rest of the year? In other news:: Traders work on the floor of the New York Stock Exchange (NYSE) on June 01, 2023 in New York City. US stock futures rise early Friday as the S&P 500 extended its winning run with a sixth straight day of gains.

Persons: Phil Rosen, It's, Jerome Powell, Alex Wong, Powell, Spencer Platt, Morgan Stanley, Brian Frank —, —, Bitcoin, hawkishness, Max Adams, Nathan Rennolds Organizations: Federal Reserve, Fed, Nvidia, Meta, New York Stock Exchange, U.S . House, Dow, Getty, Kremlin, Financial Times, Coinbase Locations: Washington ,, New York City, U.S, Moscow, Russia, New York, London

☆ What it's like to work with a billionaire, according to ex-colleagues of Elon Musk, Jeff Bezos, Bill Gates, and Sara Blakely
▼ + stars: | 2023-06-13 | by ( Jack Sommers | ) www.businessinsider.com time to read: +6 min

Past colleagues discussed working with Bill Gates, Elon Musk, Jeff Bezos, and Sara Blakely. Here, people who've worked alongside Elon Musk, Jeff Bezos, Bill Gates, and Sara Blakely talk about what it was like. After buying their company, Gates interrogated Williams and his colleagues about why their product was better than its Microsoft rival's. Reuters 'Girl next door' Sara Blakely was a 'creative genius'Lisa Magazine and Kenya Graham were personal and executive assistants, respectively, to Blakely, the Spanx founder. Read more: Elon Musk was a 'fun' boss but fired people on the spot if they disagreed with him, former Tesla manager says

Persons: Bill Gates, Elon Musk, Jeff Bezos, Sara Blakely, they'd, —, who've, Gates, Alex Wong, Chris Williams, Williams, aul Ellis, Colin Bryar, Bryar, Bezos, I've, Blakely, Lisa, Kenya Graham, Graham, Read, Sara Blakely's, Musk, Dimitrios Kambouris, Elon, Carl Medlock, he'll, Medlock, didn't Organizations: Service, Elon, Microsoft, Amazon, Amazon VP, Reuters, Lisa Magazine, Kenya, Nordic Business, Getty Locations: Blakely, Atlanta, Medlock

☆ 7 life lessons from this year's most memorable graduation speeches
▼ + stars: | 2023-06-05 | by ( Reena Koh | ) www.businessinsider.com time to read: 1 min

Billionaire Bill Gates said "you are not a slacker if you cut yourself some slack"Bill Gates has a net worth of $113.9 billion per Forbes. Alex Wong/Getty Images"My last piece of advice is the one I could have used the most. In his commencement speech, Gates shared that he "didn't believe in vacations." Only as he got older, he realized that "there is more to life than work." Take time to nurture your relationships, to celebrate your successes, and to recover from your losses," he added.

Persons: Bill Gates, Alex Wong, Gates, didn't Organizations: Forbes, Northern Arizona University

☆ Inside a debt ceiling standoff ‘far more dangerous than people will recognize’
▼ + stars: | 2023-05-31 | by ( Jeremy Diamond Lauren Fox Melanie Zanona Phil Mattingly Arlette Saenz Kevin Liptak | Jeremy Diamond | Lauren Fox | ) edition.cnn.com time to read: +17 min

“She’s well respected by both sides,” McCarthy said of the former longtime House Appropriations Committee staffer, according to White House officials. “Asking me about the communication (with the White House) implies there was communication,” one House Democrat said. For the White House negotiators, that meant late nights and early mornings. The White House negotiators left Capitol Hill abruptly and for hours, it was unclear when the conversations would resume. Quietly, White House negotiators had never actually stopped talking to their Republican counterparts.

Persons: Joe Biden, Kevin McCarthy, McCarthy, “, “ You’ve, ” Rep, Patrick McHenry, Biden, Steve Ricchetti, Shalanda Young, Louisa Terrell, ” McCarthy, James S, Alex Wong, Young, Garret Graves, ” Graves, Graves, Tom Cole of, ” Cole, White, Jeff Zients, McHenry, ‘, Chuck Schumer, Hakeem Jeffries, Ricchetti, ”, ” Terrell, Dan Meyer, –, apprised, decamping, ’, Anna Moneymaker, nonstarters, ” McHenry, McHenry –, —, Susan Walsh, businesslike, Biden’s, Eisenhower, Zients, Jose Luis Magana, Young –, Louisianans –, Jim Clyburn, Clyburn, Annie Kuster, ” Kuster, wasn’t, ” Young Organizations: CNN, White, ”, Republican, Legislative, Young, Management, Brady, Capitol, White House, GOP, McCarthy’s, Pennsylvania, Capitol Hill, U.S, Biden, Democrat, Democratic, Republicans, Building, Air Force, West Executive, LSU Tigers, South Carolina Democrat, New Democrat Coalition, Democrats Locations: Irish, Washington , DC, Louisiana, Tom Cole of Oklahoma, McHenry, Hiroshima, Japan, Washington

☆ Yogi Berra: ‘It Ain’t Over’ documentary reassesses baseball great’s remarkable career and life
▼ + stars: | 2023-05-31 | by ( Don Riddell | ) edition.cnn.com time to read: +11 min

CNN —Yogi Berra famously said “It ain’t over ‘til it’s over,” but one of the greatest careers in baseball history might have been over before it had even begun. He was injured during the attack, he pulled bodies out of the water, and he learned that in comparison to war, baseball would be easy. In a file photo -- September 28, 1955 -- Jackie Robinson (R) is safe under an attempted out by Yankee catcher Yogi Berra, on a steal home from third. I don’t think anything that anyone said or wrote took any of that joy away from him. I don’t think Grandpa meant to be a civil rights activist,” explained Lindsay, “He just did the right thing.

Persons: Yogi Berra, Berra, ”, Lindsay, “, Bob Costas, Granny Hamner, Don Larsen, Billy Crystal, Yogi, ” Berra, Joe Di Maggio, Mickey Mantle –, Jackie Robinson, Frank Kellert, Larry Berra, Barack Obama, Alex Wong, ” Lindsay, ’, ‘ we’re, ’ ”, “ There’s, grandpa, ESPN’s, he’d, Grandpa, you’ve, Jon Matlack, Robinson, “ Grandpa, Jackie, Kathy Willens Organizations: CNN, Yankee, Yankees, Philadelphia Phillies, New York Yankees, AP, Life Magazine, Bettmann, American, Observers, Dodgers, Getty, White, Mets, ” New York Yankees Hall of Fame, Toronto Blue Jays, Steinbrenner, “ Locations: Normandy, American, New York, Washington , DC, Europe, ”, Tampa , Fla, Maryland

☆ European officials are quietly preparing for the possibility Biden loses the next election
▼ + stars: | 2023-05-22 | by ( Silvia Amaro | ) www.cnbc.com time to read: +4 min

U.S. President Joe Biden (R) meets with President of European Commission Ursula von der Leyen (L) in the White House. This became ever more clear with Russia's invasion of Ukraine, with European leaders welcoming the financial and military support from the largest economy in the world. But it's possible that the current agreement, and working practices, will all come to an end if there's a new president in the White House. The European Commission, the executive arm of the EU, was not immediately available for comment when contacted by CNBC. Ron DeSantis, who is expected to launch his bid for the 2024 presidential campaign later this month, has said he believes the U.S. shouldn't get further involved in the Ukraine war.

☆ Yellen to meet with Jamie Dimon and other bank CEOs on Thursday as debt ceiling crisis looms
▼ + stars: | 2023-05-16 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —With time running out to reach a deal on the debt ceiling, Treasury Secretary Janet Yellen plans to meet with bank CEOs on Thursday afternoon in Washington, sources tell CNN. JPMorgan Chase CEO Jamie Dimon and Citigroup CEO Jane Fraser plan to attend the Yellen meeting, which will very likely include a focus on the debt ceiling as well as the banking crisis, people familiar with the matter told CNN. As the White House and Republican leaders struggle to reach a deal on the debt ceiling, Yellen has stepped up her warnings about the economic stakes. The debt ceiling is not necessarily the focus of the meeting, which will also include regional bank CEOs at a time when that industry is in turmoil. Yellen is also likely not the only figure from Washington who will speak before the bank CEOs this week.

☆ Social Security, Medicare, federal salaries: What payments may be delayed in debt ceiling standoff
▼ + stars: | 2023-05-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Among the ramifications of a debt ceiling standoff, any payment issued by the federal government — like Social Security, Medicare, tax refunds, military paychecks and ample others — may be delayed. Alex Wong | Getty Images News | Getty ImagesThe U.S. is in this situation due to a political standoff tied to the debt ceiling, also known as the debt limit. Congress periodically raises or temporarily suspends the debt ceiling to avoid the other scenario: a default on the national debt and other federal payments. Here's the current problem: The country hit the debt ceiling — currently $31.4 trillion — in January. Federal Reserve officials alluded to the likelihood of prioritizing bondholders in a 2011 meeting that followed an earlier debt ceiling episode.

☆ Jane Roberts' anti-abortion advocacy helped her husband, Chief Justice John Roberts, land his spot on the Supreme Court years before Roe v. Wade was overturned
▼ + stars: | 2023-05-13 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +11 min

Chief Justice John Roberts' wife's anti-abortion advocacy once helped bolster his judicial career. Details of Jane Roberts' work, though not new, are worth revisiting in the aftermath of Roe v. Wade's reversal. Supreme Court Chief Justice John Roberts and his wife Jane exit the funeral service for Antonin Scalia. Jane Roberts' advocacy and public political beliefs ultimately helped convince two conservative legal power players, Leonard Leo and Jay Sekulow, to publicly advocate for John Roberts' confirmation, according to the Times. Photo by Alex Wong/Getty ImagesAt the time of John Roberts' nomination, liberals feared he might pose a threat to Roe v. Wade.

☆ Biden promised student-loan borrowers cheaper payments and more debt relief. The government might not have enough money for everyone to actually get those benefits.
▼ + stars: | 2023-05-13 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +9 min

With broad student-debt relief, many student-loan borrowers anticipate reforms to payment programs. Congress didn't increase funding for Federal Student Aid last year, and the impacts already show. Federal student-loan borrowers are facing a consequential year ahead. Alex Wong/Getty Images'We really need to be worried and concerned'The issue of a lack of funding, and how it impacts student-loan borrowers, has been on some Democratic lawmakers' radars. "That's why I'll continue to fight for the increased funding the Student Aid Administration needs to provide quality services and support at-risk borrowers," she said.

☆ George Santos Charged in Justice Department Probe
▼ + stars: | 2023-05-09 | by ( Jimmy Vielkind | Sadie Gurman | ) www.wsj.com time to read: 1 min

Rep. George Santos (R., N.Y.) also faces scrutiny from prosecutors in New York and the House Ethics Committee. Photo: Alex Wong/Getty ImagesFederal prosecutors have filed criminal charges against George Santos, the embattled New York congressman who assumed office this year after lying about his biography during his campaign, according to people familiar with the matter. Details of the criminal charges, which have been filed under seal, couldn’t immediately be determined, but Mr. Santos has been under federal investigation since at least December. He also faces scrutiny from a number of other entities, including local prosecutors in New York and the House Ethics Committee. Mr. Santos has faced accusations he engaged in unlawful activity during his 2022 campaign and failed to disclose required information.

☆ Biden Secured Trillions in Domestic Spending. Now Comes the Hard Part.
▼ + stars: | 2023-05-02 | by ( Andrew Restuccia | ) www.wsj.com time to read: 1 min

President Biden is directing his senior advisers to guard against waste and fraud. Photo: Alex Wong/Getty ImagesWASHINGTON—President Biden is reorienting swaths of the federal government to focus on implementing the sweeping legislation he signed into law in his first two years in office and directing his senior advisers to guard against the waste and fraud that have bedeviled previous government programs. Mr. Biden is staking his reputation—and legacy—on spending nearly $2 trillion in taxpayer money efficiently and effectively. Done well, the effort could reshape the economy and help him win a second term. Any mistakes could threaten Mr. Biden’s 2024 re-election odds amid a pledge by congressional Republicans to conduct rigorous oversight of the administration’s spending spree.

☆ Millions of student-loan borrowers could find out in the next 2 months if they will get Biden's debt relief. Here's what's at stake — beyond a reduction to balances.
▼ + stars: | 2023-05-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +8 min

The Supreme Court is expected to issue a decision on Biden's student-debt relief by the end of June. They could have debt relief right now if it weren't for these lawsuits." And it looks like the Education Department is planning for those payments to resume with or without relief. The implementation of targeted debt relief reformsThe Education Department has some other things in the works, aside from broad student-debt relief. Share your student debt story with this reporter at asheffey@insider.com.

☆ Stock Market Calm Rekindles Debate Over Fed Tightening
▼ + stars: | 2023-04-30 | by ( Eric Wallerstein | ) www.wsj.com time to read: 1 min

The Federal Reserve has pushed back on a notion by some traders that it will cut rates twice later this year to ward off a deep recession. Photo: Alex Wong/Getty ImagesFor some investors, markets are almost too quiet. Stocks have regained ground from the beating they took during last year’s interest-rate increases. Volatility has subsided to its lowest levels since 2021. That is despite this year’s hikes, expectations for another 0.25-point increase and worries that turmoil in regional banks will slow lending and contract the economy.

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