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☆ FDA finalizes rule expanding availability of abortion pills
▼ + stars: | 2023-01-04 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

WASHINGTON — The Food and Drug Administration on Tuesday finalized a rule change that broadens availability of abortion pills to many more pharmacies, including large chains and mail-order companies. Still, the rule change’s impact has been blunted by numerous state laws limiting abortion broadly and the pills specifically. Legal experts foresee years of court battles over access to the pills, as abortion-rights proponents bring test cases to challenge state restrictions. Two drugmakers that make brand-name and generic versions of abortion pills requested the latest FDA label update. The FDA in 2000 approved mifepristone to terminate pregnancies of up to 10 weeks, when used with a second drug, misoprostol.

☆ Inflation fears fade as geopolitical risks rise
▼ + stars: | 2023-01-04 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

New York CNN —Inflation fears roiled the markets in 2022. Now, investors may have scarier things to worry about in 2023, according to a report from global research and consulting firm Eurasia Group. “Inflation shockwaves” still feature as one of Eurasia’s top political risks for 2023 in a new report. But FTX and Alameda were each forced to file for bankruptcy in December after investors rushed to pull deposits. Just a year ago, Apple was the first company in the world to reach a $3 trillion market valuation.

☆ McCarthy's dream of being U.S. House speaker faces a political nightmare
▼ + stars: | 2023-01-03 | by ( David Morgan | ) www.reuters.com time to read: +5 min

McCarthy has spent his adult life in politics, first as a congressional staffer and then state legislator before being elected to the House in 2006. At the same time, McCarthy, who has been House minority leader since 2019, would need to work with a Democratic Senate and the Biden White House on must-pass legislation. House Republicans and Democrats will then move quickly to a floor election for speaker, at which McCarthy will need support from a majority of members present to obtain the top congressional post. But already there is speculation that incoming House Majority Leader Steve Scalise or conservative leader Jim Jordan could emerge as a Republican compromise candidate. The House Freedom Caucus is pushing for rule changes that would make it easier to control the speaker and enhance the hard-line group's influence within the Republican conference.

☆ Italy police seize Rubens masterpiece after fraud investigation
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +1 min

ROME, Dec 30 (Reuters) - Italian police said on Friday they had seized a painting on display by the 17th century Flemish master Peter Paul Rubens after a fraud investigation into its owners. The masterpiece, called "The resurrected Christ appears to his mother", was part of a "Rubens in Genoa" exhibition in the city's Doge's Palace. The oil painting, almost 2 metres high and 1.5 metres across, was ensured for 4 million euros ($4.27 million). This third figure was absent from an earlier version of the same work by Rubens but there's no suggestion that the painting is fake. ($1 = 0.9374 euros)Reporting By Gavin Jones; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

☆ Biden tax credits aim to jolt electric delivery truck demand
▼ + stars: | 2022-12-29 | by ( Lisa Baertlein | ) www.reuters.com time to read: +3 min

The first-of-its-kind incentives, established under President Joe Biden's Inflation Reduction Act (IRA), will offer tax credits of $7,500 or $40,000 depending on the size of the electric vehicle (EV). The IRA's commercial EV credits do not have "made in the USA" rules that apply to passenger cars. That will "help level the playing field for electric vehicles," said Ben King, associate director at Rhodium Group, a research firm. Jim Farley, chief executive at electric van market leader Ford Motor Co (F.N), this year predicted that IRA tax credits would have a "dramatic impact on the adoption of EVs." More commercial EV purchases should lower manufacturing costs and vehicle sticker prices - which should attract even more buyers, experts said.

☆ Oil funds and a Turkey ETF were 2022 market winners, but Russia and crypto tanked
▼ + stars: | 2022-12-27 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

New York CNN —Oil stocks skyrocketed in 2022, so it’s no surprise funds that track the energy sector were Wall Street winners this year. The iShares MSCI Turkey exchange-traded fund had more than doubled as of December 19, according to data from Morningstar Direct. The Turkish economy has slowed recently as unemployment has risen, but the instability has not hurt Turkish stocks. Other US and international oil funds and ETFs were also at the top of Morningstar Direct’s list. (Morningstar Direct provided CNN Business with a ranking of the best and worst mutual funds and ETFs for 2022, excluding so-called leveraged funds that make outsized bets on stock market indexes.)

☆ Mike Sievert of T-Mobile is the CNN Business CEO of the Year
▼ + stars: | 2022-12-26 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

T-Mobile’s solid performance on Wall Street was one big reason why CEO Mike Sievert is the CNN Business pick for CEO of the Year. CNN Business spoke to Sievert about how T-Mobile has continued to perform well in a super competitive business. T-Mobile CEO Mike Sievert talks to employees at a 2022 company event. That has led to higher expenses, but Sievert said T-Mobile is less worried about inflation than other consumer firms. Prepared for more competitionSievert, who has been with T-Mobile since 2012, took over as CEO in 2020 from long-time CEO John Legere.

New legislation working its way through Congress could improve retirement security for U.S. workers. The plan is part of a stopgap spending bill, and it includes a provision that would automatically enroll eligible employees into their company's retirement plan. Under the new legislation, employers could consider a worker's student loan payment to be the equivalent of a 401(k) contribution and match it accordingly. Finally, the legislation offers a 100% tax credit to businesses with 50 employees or fewer for the cost of maintaining a 401(k) plan. "It’s a bill that helps all income levels and all different types of workers and retirees," Richman, of the Insured Retirement Institute, said.

☆ Dow surges thanks to strong earnings and confident consumers
▼ + stars: | 2022-12-21 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +2 min

Stocks surged Wednesday as investors cheered healthy results from two of America’s leading companies and a surprisingly strong reading on consumer sentiment. The Dow was up more than 500 points, or 1.6%, after FedEx (FDX) and Dow component Nike (NKE) each reported earnings that topped analysts’ forecasts. Still, the market could at least finish 2022 on a positive note following strong gains for stocks in both October and November. The jump in sentiment on Main Street came even as more signs point to a continued slowdown in the housing market. But BlackBerry (BB), the former mobile device leader that has since morphed into a cybersecurty company, tumbled 7% to a new 52-week low following a weak outlook.

☆ Mexico’s Ciudad Juárez Is Hot Spot in New Southern Border Migration Surge
▼ + stars: | 2022-12-20 | by ( Santiago Pérez | Photographs Paul Ratje For The Wall Street Journal | ) www.wsj.com time to read: 1 min

CIUDAD JUÁREZ, Mexico—Fearing a humanitarian disaster, authorities in this Mexican city across the border from El Paso, Texas, opened the doors to two shelters to provide meals, hot showers and medical help to more than 1,000 migrants—mostly Nicaraguans—who arrived in a group last week. Many had children in tow and temperatures were hovering around the freezing mark. They got a police escort to the refuge after some said they had been held for ransom by criminal gangs as they had made their way north.

☆ Mexico’s Ciudad Juárez Becomes Hot Spot in Latest Migration Surge
▼ + stars: | 2022-12-20 | by ( Santiago Pérez | Photographs Paul Ratje For The Wall Street Journal | ) www.wsj.com time to read: 1 min

☆ I Knew Oswald, and He Acted Alone
▼ + stars: | 2022-12-20 | by ( Paul Roderick Gregory | ) www.wsj.com time to read: 1 min

Less than a year after John F. Kennedy ’s assassination, the Warren Commission released its findings to the public: JFK was killed by Lee Harvey Oswald , who acted alone. The new tranche of files the National Archives released last week contains nothing that calls that conclusion into question. When the Warren report came out in September 1964, some 80% agreed with its finding that Oswald acted alone. Today more than 60% don’t believe Oswald acted alone. One of the most amusing, in an effort to shift the blame from the leftist Oswald, lists my father and me as part of a White Russian conspiracy.

☆ 'Secure 2.0' is part of the $1.7 trillion spending bill, putting it on track to usher in retirement system improvements
▼ + stars: | 2022-12-20 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

Another round of changes to the U.S. retirement system appears to be on its way. A collection of retirement-related provisions known as "Secure 2.0" is included in a 4,100-page, $1.7 trillion spending bill — which would fund the government for the 2023 fiscal year — that was unveiled Monday night. "I don't believe there will be further changes to [Secure 2.0]." More from Personal Finance:How to prevent package theft on your doorstepUsed-car prices are down 3.3% from a year agoThe 10 best metro areas for first-time homebuyersThe Secure 2.0 provisions are intended to build on improvements to the retirement system that were implemented under the 2019 Secure Act. Those changes included giving part-time workers better access to retirement benefits and increasing the age when required minimum distributions, or RMDs, from certain retirement accounts must start — to age 72 from 70½.

☆ Disney should spin off ESPN and ABC, analyst says
▼ + stars: | 2022-12-20 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

But one Wall Street analyst has an idea for how Disney could get back on track. Wells Fargo’s Steven Cahall thinks Disney should spin off cable sports giant ESPN and traditional TV network ABC… two slow-growth (and some would argue, dying) businesses. Cahall wrote in his report that “we think Bob Iger is returning to {Disney] ready to make big changes. ESPN, in theory, may have an easier time negotiating with sports leagues as part of a pure play media network. “We think ESPN and ABC are integrally linked as the broadcast [network] improves negotiations in sports rights, and we’re seeing more of those sports on both networks,” he wrote.

☆ Housing slump to continue but some hopeful signs ahead
▼ + stars: | 2022-12-18 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

While that’s already had a negative impact on the housing market, we’ll get more details this week about how much worse the damage has become. A long list of housing data is on tap. On Tuesday the US Census Bureau will report housing starts and building permits figures for November, followed by Friday’s release of new home sales data for the same month. Housing market was frothy, but not a bubbleOthers in the industry are cautiously optimistic as well. That all amounts to a few good reasons why the housing market could avoid a severe and prolonged slump.

☆ Migrant Surge at Border Strains El Paso
▼ + stars: | 2022-12-15 | by ( Alicia A. Caldwell | Photographs Paul Ratje For The Wall Street Journal | ) www.wsj.com time to read: 1 min

EL PASO, Texas—As federal immigration authorities continue to release migrants by the thousands, El Paso officials and local charities are near a breaking point in the sprawling border city. Large groups of migrants, including a large contingent of Nicaraguans who crossed the border on Sunday, have been streaming across the Rio Grande in recent days. U.S. Border Patrol facilities housed more than 5,000 people on Wednesday and roughly 1,700 migrants were released, according to data from the City of El Paso.

☆ Dow and stock market tumbles. So much for an end-of-year rally
▼ + stars: | 2022-12-15 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +2 min

New York CNN —Christmas is just ten days away, and investors are still hoping for a Santa Claus rally. The Dow tumbled more than 700 points, or 2.1%, Thursday, and it is down about 4% in December following solid gains the previous two months. The S&P 500 is now off more than 4% for the month while the Nasdaq has sank 5%. The Fed raised rates by “just” a half of a percentage point Wednesday, as expected. It didn’t help that the government also reported a much bigger drop in retail sales for November than expected on Thursday.

☆ Warren Buffett and Berkshire Hathaway are beating the market this year
▼ + stars: | 2022-12-15 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

But Warren Buffett has no reason to be worried. Shares of Buffett’s Berkshire Hathaway (BRKB) are up about 5.5% in 2022. Berkshire has big stakes in Coca-Cola (KO) and Kraft Heinz (KHC), which are each up around 10% this year. Buffett turns 93 next August while Berkshire vice chair and long-time Buffett confidant Charlie Munger will celebrate his 99th birthday on New Year’s Day. Democratic Sen. Elizabeth Warren has introduced a bill with Republican Sen. Roger Marshall that would crack down on money laundering in the crypto world.

☆ Investigation finds women's professional soccer league plagued with 'widespread misconduct' dating back a decade
▼ + stars: | 2022-12-14 | by ( Antonio Planas | Antonio Planas Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +2 min

An investigation commissioned by the National Women’s Soccer League and its players union found “widespread misconduct” dating back a decade that included instances of sexual abuse, manipulation and mocking players’ bodies. Misconduct against players has occurred at the vast majority of NWSL clubs at various times, from the earliest years of the League to the present.”The league was founded in 2012 and is the longest-running professional women’s soccer league in U.S. history, the report said. Some of those steps include: strengthening the league-wide anti-harassment policy put in place in 2021; enhancing vetting procedures for new hires and establishing an anonymous league-wide hotline so players can report misconduct. “Our investigation over the past year has revealed a league in which abuse was systematic. Some coaches’ misconduct dates to prior professional leagues and some to youth soccer.”This is an ongoing story.

☆ Kagame criticizes U.S. over 'Hotel Rwanda' figure's detention
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +3 min

WASHINGTON, Dec 14 (Reuters) - Rwandan President Paul Kagame on Wednesday criticized the United States over the concerns it has raised in the case of Paul Rusesabagina, a U.S. permanent resident jailed in Rwanda who was portrayed as a hero in the film "Hotel Rwanda." Kagame, who was in Washington for a U.S.-Africa summit, questioned why Rwanda should release Rusesabagina because he is famous and a permanent resident of the United States. When asked if he would meet with U.S. President Joe Biden, Kagame said he was not sure yet. The United States in May determined that Rusesabagina had been "wrongfully detained," citing a lack of fair trial guarantees during Rusesabagina's trial. Rusesabagina, who was feted around the world after being portrayed by actor Don Cheadle in the 2004 film "Hotel Rwanda," is a vocal critic of Kagame.

☆ Kevin McCarthy's impossible GOP math
▼ + stars: | 2022-12-14 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

Republican leader Kevin McCarthy is far from assured of winning sufficient support in his party to become House speaker next month. The tiny GOP House majority that takes over in January, after a disappointing midterm performance, would mean a fragile governing mandate for any party at any point in American history. McCarthy’s impossible mathFrom a broader political perspective, it might be in McCarthy’s interest to stand up to the most extreme members of his conference. The path to the GOP majority went through comparatively moderate seats in places like New York that will be most at risk in the 2024 election. But it also reflected Greene’s growing personal power, after she broke with some radical GOP members and lined up to support McCarthy’s speakership.

☆ It’s not the most wonderful time of the year for markets. Here’s why
▼ + stars: | 2022-12-12 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

New York CNN —The holidays are meant to be the most wonderful time of the year. But for investors, this week just might be the most stressful time of the year. Then there’s the anticipated central bank meeting. “Most central banks will be reluctant to cut rates in 2023 given the need to cool wage growth.”It has all given the equity and fixed markets a jolt. Maybe investors will be able to relax and take a deep breath before the Fed announcement and press conference later that day.

☆ The Fed will raise rates again. But it’s playing with fire
▼ + stars: | 2022-12-11 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +5 min

New York CNN —The Federal Reserve is all but guaranteed to announce Wednesday that it will once again raise interest rates. The Fed bumped up rates by three-quarters of a percentage point in the past four meetings (June, July, September and November). The more widely watched Consumer Price Index data for November comes out Tuesday, just a day before the Fed announcement. Jones still thinks the Fed will raise rates by only half a point this week and may look to hike them just a quarter point in early 2023. It seems likely that the Fed will cut its GDP target and raise its expectations for the jobless rate and consumer prices.

☆ Florida legislator who sponsored ‘Don’t Say Gay’ law resigns amid Covid-relief fraud charges
▼ + stars: | 2022-12-09 | by ( Zoë Richards | Zoë Richards Is The Evening Politics Reporter For Nbc News. | ) www.nbcnews.com time to read: +2 min

The Florida state representative who sponsored legislation opponents dubbed the “Don’t Say Gay” bill resigned Thursday, a day after he was accused of fraudulently obtaining tens of thousands of dollars from a federal Covid-relief program. State Rep. Joseph Harding, a Republican, said his resignation would be "effective immediately." He has been indicted on a slew of charges, including wire fraud, money laundering, making false statements and other crimes. He sponsored a bill this year prohibiting “classroom discussion about sexual orientation or gender identity” in the state’s primary schools. The bill, which was criticized as an attack on Florida’s LGBTQ community, was signed into law in March by Republican Gov.

☆ Rent the Runway rebounds as consumers shop for bargains
▼ + stars: | 2022-12-08 | by ( Paul R. La Monica | ) edition.cnn.com time to read: 1 min

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