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☆ Opinion | The Cowardice of the Deficit Scolds
▼ + stars: | 2023-05-08 | by ( Paul Krugman | ) www.nytimes.com time to read: +1 min

Financial markets are finally taking notice of the possibility that the United States may soon default on its debts. Interest rates on short-term debt and the cost of insuring against default have spiked, reflecting fears that U.S. debt won’t be repaid on time. Few things about the looming crisis should come as a surprise. Nor am I surprised that the Biden administration hasn’t yet adopted any of the possible strategies through which the debt ceiling might be circumvented. One thing that has come as a surprise, however, is the cowardice of the self-appointed guardians of fiscal responsibility.

☆ Earnings playbook: How to trade results from Disney and these other names ahead
▼ + stars: | 2023-05-07 | by ( Fred Imbert | ) www.cnbc.com time to read: +4 min

Tuesday Occidental Petroleum is set to report earnings after the bell. What history shows: Data from Bespoke Investment Group shows Occidental beats earnings expectations 71% of the time. Electronic Arts is set to report earnings after the close, followed by a call at 5 p.m. What history shows: Bespoke data shows Disney beats expectations 78% of the time. However, Disney shares tend to struggle on earnings day, averaging a slight loss after the company posts results.

☆ AI scam calls: This mom believes fake kidnappers cloned her daughter's voice
▼ + stars: | 2023-04-29 | by ( Faith Karimi | ) edition.cnn.com time to read: +12 min

But her older daughter, 15-year-old Brianna, was away training for a ski race and DeStefano feared it could be a medical emergency. “A scammer could use AI to clone the voice of your loved one,” the agency said in a statement. Law enforcement has not verified whether AI was used in her case, but DeStefano believes scammers cloned her daughter’s voice. It was the voice, matching with the crying.”Jennifer DeStefano, right, with her daughter, Brianna: "A mother knows her child," she said. She’s tried to figure out how the virtual kidnappers got her daughter’s voice, and has considered several scenarios.

☆ Rubio warned politicians against going after companies for 'political purposes' after Disney sued DeSantis
▼ + stars: | 2023-04-28 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

Marco Rubio said lawmakers should avoid looking like they are going after companies for "political purposes." Disney has sued Florida Republican Gov. Fox host Brian Kilmeade asked Rubio about comments by some Republicans, who criticized DeSantis for targeting the company. Disney sued DeSantis, who is widely expected to run for president, on Wednesday, saying that the governor was trying to "weaponize government power" by targeting the company. But when it comes to Disney, Rubio said he doesn't think the company is going to leave Florida.

☆ 5 reasons fighting Disney is a political winner for DeSantis — and 6 reasons it could hurt his shot at the presidency
▼ + stars: | 2023-04-28 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +13 min

It does a ton of business in China, which many GOP voters view as a threat to the US. DeSantis already ran on being anti-Disney — and wonTaryn Fenske, DeSantis' communications director, has described the Disney fight as being "the will of Florida voters." And they might not vote for DeSantis if they think the Disney fight is a killer in a general election. Families often work hard and save for years to take their children to Disney World. If DeSantis can't bring a resolution to the Disney fight, can he handle the job of president?

☆ Russia's energy dominance is fading with pipeline gas exports reportedly set to fall by 50% this year
▼ + stars: | 2023-04-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Russia's pipeline gas exports are set to halve this year, according to a report from a Kremlin-affiliated news outlet. Those losses are largely due to Russia slashing pipeline gas flows to Europe last year in retaliation for sanctions. Government forecasters predicted the Russia's pipeline gas exports could halve in 2023, the Kremlin-affiliated Russian news outlet Izvestia reported on Thursday. That will pile on to hefty losses Russia's gas industry already weathered in 2022, with state-owned Gazprom reporting the lowest volume of gas exports last year since the start of the century. Russia's oil and gas revenue crashed nearly 50% in January of this year alone, according to estimates from Russia's finance ministry.

☆ Democratic insiders are all over the map about whether they'd prefer DeSantis or Trump versus Biden in 2024
▼ + stars: | 2023-04-28 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +6 min

Others want a rematch with the legally challenged Trump or say that the younger, lesser-known DeSantis would be a bigger threat to Biden. Democratic pollster Celinda Lake said she prefers Trump because Biden beat him in the 2020 presidential election and will "beat him again." Trump has proven he could turn out Republican voters and win the presidency, but he's under indictment and could face even more charges. "That said, this will be a tough race no matter who the Republican nominee is, and every Democrat needs to take it extremely seriously." And both DeSantis and Trump are pushing "extreme" agendas to try and "outmaneuver the other one."

Florida lawmakers passed legislation that ended Disney's virtual autonomy in central Florida where the Disney World theme parks are located and attract millions of visitors each year. In the action filed in federal court in Tallahassee, Disney said it had no choice but to take legal action. DeSantis has argued that Disney, which employs roughly 75,000 people in the Florida, had been operating with unfair advantages for decades. Carlos Curbelo, a former U.S. Republican congressman from Miami, said DeSantis' attacks on Disney "made sense for a time." Florida's new oversight board on Wednesday said Disney's plans for potential expansion of Disney World did not comply with state law, and declared that agreement void.

Disney alleges that DeSantis tried to "weaponize government power" over the company. It alleges that DeSantis' continued action against Disney "threatens Disney's business operations." Ron DeSantis on Wednesday, alleging that he tried to "weaponize government power" over the company. As retaliation to the Disney executives' pledges, DeSantis took aim at a decades-long provision that gives Disney special self-governing privileges in Florida. Unlike rival parks Universal Studios and Sea World, Disney doesn't have to run their plans by zoning commissions or building-inspection departments.

April 26 (Reuters) - Walt Disney Co (DIS.N) sued Florida Republican Governor Ron DeSantis on Wednesday, asking a court to overturn state efforts to control the Walt Disney World theme parks and intensifying a battle between a global entertainment giant and a potential White House contender. A DeSantis spokesman called Disney's action "an unfortunate example of their hope to undermine the will of Florida voters." Disney also argues it was denied its First Amendment rights to free speech. State Republicans last year targeted Disney after it publicly clashed with DeSantis. But before the takeover by DeSantis' appointees, Disney pushed through changes to the special tax district agreement that limit the board's action for decades.

☆ Disney sues Florida Gov. Ron DeSantis, alleges political effort to hurt its business
▼ + stars: | 2023-04-26 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +1 min

Walt Disney Co. sued Florida Gov. Ron DeSantis on Wednesday, alleging the Republican governor has waged a "relentless campaign to weaponize government power" against the company amid a protracted fight over a controversial classroom bill. The federal lawsuit alleges that DeSantis "orchestrated at every step" a campaign to punish Disney that now threatens the company's business. Soon after, the governor and his allies targeted the special tax district that has allowed Disney to essentially self-govern its Florida operations since the 1960s. "The government action was patently retaliatory, patently anti-business, and patently unconstitutional," Disney alleged in the civil complaint in U.S. District Court in northern Florida.

☆ Disney's Bob Iger is going nuclear on Ron DeSantis
▼ + stars: | 2023-04-26 | by ( Madeline Berg | ) www.businessinsider.com time to read: +5 min

Disney's Bob Iger escalated the conflict between the company and Florida's Ron DeSantis on Wednesday. It's the latest move in a feud that began last year over Florida's "Don't Say Gay" bill. Buckle up for a roller coaster ride, because the feud between Disney's CEO Bob Iger and Florida's Ron DeSantis just got bumpier. This is the latest — and most drastic — move in the clash between DeSantis and Iger, who inherited the battle with Disney from his predecessor Bob Chapek. Spokespeople for both Disney and DeSantis declined to give any additional comment.

☆ Democrats warn large tech firms could evade competition policies under new trade rules
▼ + stars: | 2023-04-24 | by ( Lauren Feiner | ) www.cnbc.com time to read: +4 min

It's not the first time Democrats have raised concerns about tech provisions being included in trade agreements. The group urged Tai and Raimondo "not to put up for negotiation or discussion any digital trade text that conflicts" with the agenda set by the whole-of-government effort. "Big Tech wants to include an overly broad provision that would help large tech firms evade competition policies by claiming that such policies subject these firms to 'illegal trade discrimination,'" the Democrats wrote. "Tech companies could also weaponize these digital trade rules to undermine similar efforts by our trading partners." The letter cited a U.S. Chamber of Commerce blog post about a trade group coalition note advocating for strong digital trade provisions in the Indo-Pacific Economic Framework (IPEF).

☆ Disney and DeSantis have been in a yearlong feud that began after the company spoke out against a controversial bill. Here's a timeline of the events.
▼ + stars: | 2023-04-21 | by ( Lloyd Lee | Chris Panella | ) www.businessinsider.com time to read: +12 min

After a yearlong feud, Disney sued DeSantis on Wednesday, alleging that the Florida governor tried to "weaponize government power" over the company. The state Board of Education voted on Wednesday to expand that law to cover grades four to 12. Under the leadership of Governor DeSantis, our state has seen record growth in jobs, GDP, and net domestic in-migration. It was the first time the board met since the revelation of the agreement between the prior district board members and Disney. On April 19, the state board approved a ban on classroom discussion of sexual orientation and gender identity for all grades, including grades four through 12.

☆ A South Carolina business owner was threatened with 'ruinous fines and jail time' after zoning laws were changed
▼ + stars: | 2023-04-16 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

Changes to zoning laws forced a South Carolina business owner to lay off three of his five workers. Rafael Chinchilla, the owner of Tires 2 Go, a tire retailer in Simpsonville, South Carolina, was told in August 2022 to stop offering U-Haul rentals or face "ruinous fines and jail time." But under South Carolina law, "a property owner has a vested right to continue a nonconforming use in existence when his property is rezoned, barring a factual showing that continuing the use would harm the public health, safety, or welfare." The order forced the business owner to lay off three of his five employees as it had "drastically reduced the income from his business," the nonprofit wrote in its letter to the city Friday. It added that "his use as a U-Haul rental business was grandfathered in, and the City should not violate South Carolina law to destroy it."

☆ Republican Sen. Tim Scott launches 2024 presidential exploratory committee
▼ + stars: | 2023-04-12 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

Sen. Tim Scott of South Carolina launched an exploratory committee for a 2024 presidential campaign on Wednesday, taking a major step toward a Republican primary arena that former President Donald Trump has dominated so far. "This is personal to me," Scott, 57, said in a video announcing the committee. Scott's move toward a White House run puts him on track to collide with fellow South Carolina Republican Nikki Haley, the former governor and United Nations ambassador who launched her own presidential campaign in February. Trump has dominated early Republican primary polling, while DeSantis has usually held the second spot. The senator, who has been touring key primary states, is planning another swing this week through Iowa, New Hampshire and South Carolina, his committee said.

☆ The resilient job market is finally showing signs of cooling off
▼ + stars: | 2023-04-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

The job market is clearly starting to slow down. Mohamed El-Erian said March's jobs report was a win-win for both the stock market and the Fed. "We are making this transition where the stock market was obsessed with interest-rate risk to one that is concerned about credit risk." What's your take on the latest job data? In other news:Traders works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 5, 2020.

☆ Hawkish tech critics have labeled San Francisco 'lawless' following the stabbing death of Cash App creator Bob Lee. The city's crime rate tells a different tale.
▼ + stars: | 2023-04-09 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +5 min

The stabbing death of Cash App creator Bob Lee spurred fresh criticism of San Francisco crime. While critics call the progressive city "lawless" with "horrific" crime, violent offenses are down. Compared with cities of similar size, San Francisco has far fewer homicides per year. Michael Arrington, the founder of the industry blog TechCrunch, agreed, posting "I hate what San Francisco has become." Representatives for the San Francisco Police Department, as well as Ocko, Musk, Arrington, and Benedicto, did not immediately respond to Insider's requests for comment.

☆ The judge overseeing Trump's case donated $15 to Biden. Legal experts say it likely won't get him thrown off the case, but it'll 'feed the Trump PR beast.'
▼ + stars: | 2023-04-07 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +6 min

The NY judge handling Donald Trump's criminal case made a $15 donation to President Joe Biden's campaign in 2020. Legal experts told Insider that it likely won't get the judge thrown off the case. But it will "feed the Trump PR beast" and doesn't bode well for public perception, the experts said. Legal experts told Insider on Friday that the political donations likely won't get New York Supreme Court Justice Juan Merchan thrown off of Trump's case, but that it will "feed the Trump PR beast" and doesn't bode well for public perception. "The Trump people will pounce on that"Former President Donald Trump appears in court for his arraignment, on April 4, 2023 in New York.

☆ Trump may have looked through Mar-a-Lago documents after subpoena was delivered, new evidence suggests, pointing to a big potential difference between his documents case and Biden's: report
▼ + stars: | 2023-04-03 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +4 min

Donald Trump may have tried to keep documents after receiving a subpoena from DOJ. The evidence indicates a difference between Trump's investigation and the one into Biden's documents. In August, an FBI search found and seized more than 100 classified documents in Trump's Palm Beach, Florida, home — months after the initial subpoena in May. "When you find improperly stored classified documents, you immediately notify the government — and you turn it over immediately." Cheung pointed to classified documents found in Biden's home, and referenced Hillary Clinton's 2016 email investigation.

☆ Russia bid to 'weaponize energy' on Blinken agenda at NATO meet
▼ + stars: | 2023-03-30 | by ( Simon Lewis | ) www.reuters.com time to read: +2 min

WASHINGTON, March 30 (Reuters) - U.S. Secretary of State Antony Blinken will push back on Russia's attempts to "weaponize energy" and rally support for a Ukrainian counteroffensive when he meets NATO foreign ministers in Brussels next week, an official said on Thursday. A meeting of the U.S.-EU Energy Council will focus on joint efforts to "blunt Russia's attempts to weaponize energy ... (and) bolstering energy supplies for the coming winters," Dereck Hogan, the State Department's principal deputy assistant secretary for European and Eurasian Affairs, told reporters. NATO has sent large amounts of weapons and other aid to Ukraine since Russia invaded, which has also spurred moves to expand the alliance. The top U.S. diplomat will meet with European Union High Representative and Vice President Josep Borrell, NATO Secretary General Jens Stoltenberg and Ukrainian Foreign Minister Dymtro Kuleba in Belgium on Tuesday and Wednesday, the State Department said. Reporting by Simon Lewis, Doina Chiacu and Daphne Psaledakis; editing by Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

☆ Fact Check-Florida Governor DeSantis did not say he would 'examine the legality of any extradition request' for Donald Trump
▼ + stars: | 2023-03-22 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

Florida Governor Ron DeSantis did not say that he would “examine the legality of any extradition request” made for former U.S. President Donald Trump, as suggested in a fabricated quote circulating online. Examples of the fabricated statement shared on social media can be seen (here) and (here). At the 22.52s timestamp DeSantis said: “And in terms of, we are not involved in this and won’t be involved in this. In a March 20 press briefing, DeSantis said that he had “no interest in getting involved” in a potential extradition of Trump to face charges in New York. The fabricated statement that he would “examine the legality of any extradition request” was first cast as hypothetical, but some have shared it as though it was made by the governor.

☆ Trump's legal troubles are threatening to upend the 2024 GOP race, and he's not even charged
▼ + stars: | 2023-03-22 | by ( Kimberly Leonard | Oma Seddiq | ) www.businessinsider.com time to read: +14 min

Former President Donald Trump faces possible criminal charges as he's running for president. "If it's a circus, there's only one ringmaster and that's Trump," said GOP pollster B.J. Operatives thinking of ways to land punches on Trump say GOP primary candidates could argue that he would lose the general election because of his legal troubles. Political insiders widely concede that a potential indictment — and how Trump responds — could still backfire on GOP challengers and strengthen Trump. While the circumstances surrounding the 2024 primary are uncharted territory, polling shows a cohort of GOP voters has grown weary of Trump and is seeking an alternative.

Politico reported that a grand jury was preparing to indict Trump, the front-runner for the Republican 2024 nomination. DeSantis has not declared a presidential run but is widely expected to do so and is by far Trump's most formidable Republican challenger. At a press conference DeSantis criticized Bragg but did not dismiss the case against Trump outright. "I don't know what goes into paying hush money to a porn star to secure silence over some type of alleged affair, I just, I can't speak to that," he said. Other than Pence and DeSantis, most major declared and prospective Republican presidential candidates have remained silent on the issue.

☆ A drag queen who survived the Orlando Pulse shooting says Florida's LGBTQ community is 'scared' of further hate following DeSantis' push to revoke a hotel's liquor license
▼ + stars: | 2023-03-20 | by ( Lloyd Lee | Chris Panella | ) www.businessinsider.com time to read: +7 min

A drag queen who survived the 2016 Pulse club shooting said it only further demonizes LGBTQ people. "Not just in terms of limiting opportunities for drag entertainers, but by demonizing the art of drag as a whole," she wrote. Fine told Insider his motivation for pursuing the bill came after he found out a drag queen show was hosted in a public space in his district last year. However, the representative also said he would not support a bill that eliminates drag shows for consenting adults. In Florida, there have been at least nine demonstrations against the LGBTQ community, the organization found.

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