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☆ The U.S. federal government is headed into a shutdown. What does it mean, who’s hit and what’s next?
▼ + stars: | 2023-09-23 | by ( ) www.cnbc.com time to read: +6 min

Federal agencies will stop all actions deemed non-essential, and millions of federal employees, including members of the military, won't receive paychecks. A shutdown happens when Congress fails to pass some type of funding legislation that is signed into law by the president. Millions of federal workers face delayed paychecks when the government shuts down, including many of the roughly 2 million military personnel and more than 2 million civilian workers across the nation. Nearly 60% of federal workers are stationed in the Defense, Veterans Affairs and Homeland Security departments. Beyond federal workers, a shutdown could have far-reaching effects on government services.

Persons: Samuel Corum, Kevin McCarthy's, Goldman Sachs, General Merrick Garland, Donald Trump, Hunter Biden, Joe Biden, Trump, Republicans defund, Benjamin Civiletti, Bill Clinton's, Newt Gingrich Organizations: Getty, Democratic, Republican, Defense, Veterans Affairs and Homeland Security, Transportation Security, Postal Service, U.S . Travel Industry Association, Lawmakers, U.S . Chamber, Commerce, Republicans, U.S, Democrats Locations: Washington , DC, shutdowns

☆ What is Section 702? Congress is debating the controversial surveillance power
▼ + stars: | 2023-07-31 | by ( Juhi Doshi | ) www.cnbc.com time to read: +8 min

Section 702 of the Foreign Intelligence Surveillance Act, or FISA, allows the government to conduct targeted surveillance of foreign nationals living outside the U.S. without needing to obtain a warrant. As recently as this month, a court opinion disclosed that FBI employees wrongly searched foreign surveillance data for the last names of a U.S. senator and a state senator. But data on U.S. citizens is still collected when they interact with a foreign surveillance target — that's known as "incidental" collection. Lawmakers from both sides have said they won't vote to renew the provision unless major changes are made in how the FBI uses foreign surveillance data to investigate Americans. "And that means first and foremost addressing the warrantless surveillance of Americans in violation of the Fourth Amendment."

Persons: Samuel Corum, Biden, they're, George Floyd, Joe Biden's, Jake Sullivan, Jon, Read, Trump, Ron DeSantis, Bush, Donald Trump, Dick Durbin, Sen, Mike Lee, they've, Patrick Toomey, Toomey, Christopher Wray, Wray Organizations: Getty, Foreign Intelligence, FISA, FBI, Social, American Civil Liberties Union, White, President's Intelligence, Board, National, NBC, Historically, Republicans, DOJ, ACLU's National Security, National Intelligence, Committee Locations: Washington , DC, reauthorize, U.S, China, Russia, Florida, Georgia, Fulton, Utah

Weeks later, Mr. Trump is the former President Trump. Instead, in a brief televised address shortly before 2:30 a.m., Mr. Trump furiously laid down his postelection lie. For weeks, Mr. Trump had been peppering him with tips of fraud that, upon investigation by federal authorities, proved baseless. The cavalry “is coming, Mr. President,” Kylie Kremer tweeted to Mr. Trump on Dec. 19. On Jan. 15, Mr. Trump acquiesced to an Oval Office meeting with Mr. Lindell, who arrived with two sets of documents.

Persons: Donald J, Trump, Joseph R, Biden, Justin Clark, Rudolph W, Giuliani, Clark, Weeks, Mitch McConnell, McConnell, Jared Kushner, McConnell’s, Biden’s, William P, Barr, Mr, Trump’s, Sidney Powell, Lin Wood, sleuths, MyPillow, Mike Lindell, Patrick Byrne, Stephen K, Bannon, Michael T, Flynn, platformed, Jared Taylor, Enrique Tarrio, Doug Mills, Eric, “ We’re, ”, Fox, Eric Trump, Newt Gingrich, Joe Biden’s, Kevin McCarthy, Laura Ingraham, Obama, Dennis Montgomery, Thomas McInerney, McInerney, John McCain, Bannon’s, “ it’s, Paul Gosar, Doug Ducey, Roy Blunt of, Roy Blunt, Anna Moneymaker, —, “, ” Mr, Mark Meadows, Josh Holmes, Kushner, — Mr, Mitt Romney, Lisa Murkowski, Lindsey Graham, Sean Hannity, Lindsey Graham of, Sean Hannity’s, — I’ve, Let’s, Graham, Pat A, Axios, Brendan Smialowski, “ Hannity, Thomas, Jenna Ellis, Matt Morgan, Al Gore, George W, Bush, Brooks, Stefan Passantino, Powell, Lynsey Weatherspoon, Gore, William H, Rehnquist, Giuliani —, Kris Kobach, Mark Martin, Lawrence Joseph, Kobach, Uncle Sam, Mr . Biden, Ken Paxton, Jeffrey M, Landry, Paxton, Kyle D, Hawkins, Jacquelyn Martin, Joseph, Richard L, Chris Carr, Carr, Mike Johnson of, Mike Johnson, McCarthy, Privately, Ted Cruz of, John Sauer, ’, ” James E, Nicolai, North, Wayne Stenehjem, Stenehjem, Wayne, Tasos Katopodis, MAGA, Marjorie Taylor Greene, Marsha Blackburn of, Ms, Blackburn, Amy Kremer, Ann Stone, Roger Stone, Amy Coney Barrett, Kremer’s, Kylie Jane Kremer, Jennifer Lawrence, Dustin Stockton, Lawrence, Stockton, I’ve, Lindell, they’d, Taylor, Greg Locke, Covid, Michael McKinney, Tucker Carlson, Carlson’s, “ Donald Trump, ” Ms, Meadows, Georgia runoffs, Byrne, Cipollone, he’d, Martin, Mike Pence, reconvene, ” Kylie Kremer, James Yeager, Kylie Kremer, Yeager’s, Lawrence whooped, John Kennedy, James Lyle, Josh Hawley, “ You’ve, Lyle, Couy Griffin, Kennedy, Pete Marovich, Kremer, Julie Jenkins Fancelli, Alex Jones, Caroline Wren, Kimberly Guilfoyle, Donald Trump Jr, Katrina Pierson, Brad Raffensperger, Jeffrey A, Rosen, Department’s, Jeffrey Clark, Scott Perry, Hawley, Cruz, Year’s, Tom Cotton of, Cotton, Cindy Chafian, Chafian, Jones, Stone, Locke, Jan, “ You’ll, Gosar, Griffin, Robert O’Brien, I’m, ’ ”, Kenny Holston, Donald Trump, ” Mark Walker, Ben Margot, Stefani Reynolds, Samuel Corum, Erin Schaff, David J, Ted Cruz, John Bazemore Organizations: Twitter, Dominion Systems, Trump, Biden, Dominion, New, New York City, The New York Times, Senate, New York, Republican Party, Capitol, White, Times, The Times, America News Network, Fox, America, Boys, New York Times, American, Air Force, Electoral College, Republicans, Joe Biden’s Democratic Party, Republican, Facebook, Democrats, Associated Press, “ Fox & Friends, White House, West Wing, “, Federal Bureau of Investigation, Veritas, Justice Department, Postal Service, York Daily, Agence France, Zignal Labs, Amistad, Thomas More Society, Mr, Electoral, Supreme, Lawyers, General Association, Associated, State, University of California, Republican House, Women, Tea Party, Trump -, Breitbart, of, Credit, SPAN, Tea Party Express, Republican National Committee, Internet, Army, Des Moines Register, Marine, General Services Administration, Swedish, Cowboys, Capitol ., Street Journal, Save, General Association ., Law Defense Fund, Freedom, Coalition, Proud Boys, Willard, Homeland Security, Party, Getty, Georgia Electoral College Locations: Detroit, Arizona, Georgia, New York, America, China, Trump, Grand Rapids, Mich, Philadelphia, Atlanta, Milwaukee, Santa Cruz ,, Arizona —, Russia, North Vietnam, United States, Roy Blunt of Missouri, Kentucky, Utah, Alaska, Lindsey Graham of South Carolina, Erie, Pa, Pennsylvania, Long, Bush, Florida, tightest, Kansas, North Carolina, Ken Paxton of Texas, Texas, State of Texas, Michigan, Wisconsin, Irvine, Mike Johnson of Louisiana, Ted Cruz of Texas, Missouri, Washington, Marsha Blackburn of Tennessee, Trump’s, Hudson, Stockton, Tennessee, Des Moines, Meadows, White, fistfights, Nashville, West Monroe, La, Louisiana, drumbeating, Tom Cotton of Arkansas, Delaware

☆ Ticketmaster has a total stranglehold on the live event industry. Here's how some states are trying to break that.
▼ + stars: | 2023-07-10 | by ( Madison Hall | ) www.businessinsider.com time to read: +8 min

Rafael Henrique/SOPA Images/LightRocket via Getty ImagesA California legislator is trying to strike back at Live Nation Entertainment's grip on the live events space. It was actually the ticket-buying experience for a minor-league hockey game that could lead to a large legislative setback for Live Nation Entertainment. The extent of Live Nation Entertainment's graspIn June, the American Economic Liberties Project released a report detailing the extent of the stranglehold Live Nation Entertainment has on the live events industry. Brown explained to Insider that Live Nation Entertainment has been able to become so powerful in the industry as it's vertically integrated very effectively. Live Nation Entertainment is under federal pressureThe federal government is also cracking down on Ticketmaster's reign in the entertainment industry.

Persons: Rafael Henrique, California Sen, Scott Wilk, Sen, wasn't Taylor, Wilk, Pat Garafolo, Krista Brown, Brown, Joe Biden, Samuel Corum, Amy Klobuchar, Richard Blumenthal, Klobuchar, It's, Blumenthal Organizations: Getty, California State Senate, Service, Nation Entertainment, Ticketmaster, California Senate, American Economic Liberties, Entertainment, Department of Justice, DOJ, Federal Trade Commission, Live, New York Times, Live Nation Entertainment Locations: California, Wall, Silicon, United States, AFP, Minnesota

☆ The most dangerous place for retail workers might be right outside their stores
▼ + stars: | 2023-05-19 | by ( Ben Tobin | Dominick Reuter | ) www.businessinsider.com time to read: +5 min

Store parking lots can present dangers for workers and customers alike. Roughly half of all deaths one outlet recorded at retailers in early 2022 occurred in parking lots. The incident illustrates a particular danger for retail workers that lies not within the confines of their brick-and-mortar stores but outside them, in the parking lot. Many of them identified the parking lot as the place they felt most unsafe. Retail store's parking lots are the scene of both violence and accidentsA worker collects shopping carts from the parking lot of a Walmart store in Chicago.

☆ First Republic Joins the Living Dead
▼ + stars: | 2023-04-26 | by ( Aaron Back | ) www.wsj.com time to read: 1 min

Photo: Samuel Corum/Bloomberg via Getty ImagesFirst Republic Bank appears to have gotten out of immediate liquidity trouble, but it has dug itself a deep profitability hole. To cover deposit outflows, the lender had to borrow heavily at high rates from the Federal Reserve, the Federal Home Loan Bank and JPMorgan Chase & Co., in addition to the $30 billion that JPMorgan and 10 of the other largest banks deposited at the bank in an effort to rescue it. Total borrowings peaked at $138.1 billion on March 15, declining to $104 billion as of April 21, the bank said in its quarterly earnings statement on Monday.

☆ Former Rep. Will Hurd might launch a 2024 GOP presidential campaign. He's still waiting to see if his party agrees that 'we're better together.'
▼ + stars: | 2023-04-23 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +7 min

Former GOP Rep. Will Hurd, a Trump critic, is considering running for president in 2024. He says he won't support Trump in 2024 and suggested DeSantis will struggle to appeal to voters. the former Texas congressman told Insider in an interview before his address to the Iowa Faith and Freedom Coalition's Annual Spring Kick-off. "We have four years," he told Insider, "before we could potentially get surpassed by the Chinese government as a global superpower." On abortion, Hurd told Insider it "probably makes sense" to institute a nationwide ban after 15 weeks, with exceptions for rape, incest, and the life of the mother.

☆ Biden used first veto to save a 401(k) investment rule. Here's what it does
▼ + stars: | 2023-03-21 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

watch nowFew 401(k) plans — about 5% — offer an ESG fund, according to PSCA survey data. The [Biden] rule doesn't force you to consider ESG. Under the Biden rule, employers must still consider ESG factors within the context of what is in investors' best interests. "The [Biden] rule doesn't force you to consider ESG," Chao said. The Biden administration issued the final text of its investment rule in November, shortly before Republicans assumed control of the House.

☆ Perfect Storm for Some Companies: Fewer Interest Deductions, Rising Rates
▼ + stars: | 2023-02-06 | by ( Mark Maurer | ) www.wsj.com time to read: +9 min

For some firms, the move shrank the amount of taxable income that can be offset by interest expenses. Higher interest rates generally lead to higher interest expenses tied to companies’ variable-rate debt, new borrowings and refinancings. The cap can hit companies’ cash flows immediately, though not necessarily their financial statements, due to timing differences in claiming the deductions. Aluminum maker and recycler Novelis plans to allocate less cash toward its venture-capital arm due to the higher interest expenses. Leveraged loans have variable rates that typically reset every one to three months, based on short-term interest rates.

☆ Biden's classified records bumbling is a gift for Trump, and some high-profile figures say it closes the door on an indictment for the former president
▼ + stars: | 2023-01-12 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +7 min

Biden aides have discovered two batches of classified documents from when he was vice president. "When is the FBI going to raid the many homes of Joe Biden, perhaps even the White House? Over in the US House Republicans have already launched an investigation. Trump is the only person to have announced a 2024 campaign for the White House, but his campaign has been off to a slow start. Some commentators even predicted that the perception of a double standard around the Biden documents investigation would derail a potential Trump indictment.

It was totally avoidable.”Now, Bolsonaro is in Orlando, where he has supporters among the state's growing number of Brazilian Americans. After Bolsonaro's loss, unfounded claims of election fraud, reminiscent of those in the U.S., began to surface in Brazil. Bannon had said prior to the Brazilian election that Bolsonaro would lose only if “the machines” steal the election. Leading to the presidential elections in Brazil, Trump allies exported many of the former president's campaign strategies to the Latin American country. After Bolsonaro's October loss, tens of thousands of supporters began camping outside military facilities throughout Brazil to protest his loss.

☆ House passes $1.7 trillion spending bill that rewrites U.S. election law, sending it to Biden to sign
▼ + stars: | 2022-12-23 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Sahil-Kapur-Headshot.Jpg | Sahil Kapur | ) www.nbcnews.com time to read: +5 min

WASHINGTON — The House on Friday voted to finalize a massive $1.7 trillion government funding bill, sending it to President Joe Biden and marking the end of two years of Democrats controlling both chambers of Congress. It overhauls federal election law by revising the Electoral Count Act of 1887 to try to prevent another Jan. 6. The bill funds a swath of domestic programs as well, averting a shutdown and keeping the government funded through next fall. “We have a big bill here, because we have big needs for our country,” outgoing House Speaker Nancy Pelosi said on the floor. The measure was negotiated by Democratic leaders and top Senate Republicans, including Minority Leader Mitch McConnell, R-Ky.

You can blame the persistently high prices seen throughout the economy right now. But for many families, prices "are not coming down but just stabilizing at a higher level," he said. Although prices for beef and produce are coming down a bit, the cost of chicken remains high. Rising wages for cashiers and the cost of dealing with theft are two additional factors causing prices to shift upward at Walmart stores. "If that is not corrected, over time prices will be higher and stores will close," McMillon said.

☆ For retirement-system changes proposed in Congress via 'Secure 2.0,' December is do-or-die time
▼ + stars: | 2022-11-21 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +4 min

While no specific agenda has been released yet, supporters of the retirement-change proposals collectively called "Secure 2.0" are hopeful that it will be among the pieces of legislation that make it across the finish line. Increasing the extra amounts — so-called catch-up contributions — that individuals age 50 or older can put in their retirement accounts. watch nowThis year, the House passed its version of Secure 2.0, the Securing a Strong Retirement Act (H.R.2954), in late March with a bipartisan vote of 414-5. Secure 2.0 could be attached to a must-pass billAssuming that Secure 2.0 wouldn't get floor time for a vote on its own, supporters are hoping legislators will attach it to a must-pass bill this year. In September, Congress passed a stopgap measure to fund the government's 2023 fiscal year, which started Oct. 1, through Dec. 16.

☆ The week in review, the week ahead — Nov. 18, 2022
▼ + stars: | 2022-11-18 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

It certainly gave the market some pause in the back half of the week. Looking ahead, we remind members that markets will be closed on Thursday for Thanksgiving, and will close early at 1:00 p.m. Also Thursday, initial jobless claims for the week ending Nov. 12 came in at 222,000, a decrease of 4,000 from the prior week and below expectations of 228,000. Below are some other earnings reports and economic numbers to watch in the week ahead. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Share this -Link copiedWisconsin Senate race too close to call Wisconsin's Senate race between GOP Sen. Ron Johnson and Democrat Mandela Barnes is too close to call, NBC News says. Vance wins Ohio Senate race, defeating Democrat Tim Ryan, NBC News projects COLUMBUS, Ohio — J.D. Ohio Republican Senate candidate J.D. Vance is leading The Senate race in Ohio is too early to call, NBC News says, but Republican candidate J.D. Share this -Link copiedGeorgia Senate race too close to call Georgia's Senate race is too close to call about three hours after polls closed at 7 p.m.

☆ U.S. could sell oil from emergency reserve this week: Reuters, citing sources
▼ + stars: | 2022-10-18 | by ( ) www.cnbc.com time to read: +2 min

Samuel Corum | Bloomberg | Getty ImagesThe Biden administration plans to sell oil from the Strategic Petroleum Reserve in a bid to dampen fuel prices before next month's congressional elections, three sources familiar with the matter said on Monday. President Joe Biden's announcement is expected this week as part of the response to Russia's war on Ukraine, one of the sources said. The sale would market the remaining 14 million barrels from Biden's previously announced, and largest ever, release from the reserve of 180 million barrels that started in May. Biden said last week gasoline prices are too high and that he would have more to say about lowering costs this week. The Energy Department still has about 14 million barrels of SPR oil left to sell from the historic release, because selling was slowed in July and August by holidays and hot weather.

WASHINGTON — The House committee investigating the Jan. 6 attack on the Capitol plans to vote to subpoena former President Donald Trump, sources familiar with the committee's plans told NBC News Thursday. On his way to the hearing, Chairman Bennie Thompson, D-Miss., told reporters the panel had not yet ruled out a subpoena for Trump. He said at the start of the hearing that the committee would take a vote "based on new evidence." Thursday's hearing would once again place Trump at the center of plans to overturn the election, ultimately leading to the violence on Jan. 6, committee Vice Chair Liz Cheney, R-Wyo., said in her opening statement. Several sitting and former presidents and vice presidents have also testified before congressional committees, including Presidents Abraham Lincoln, Woodrow Wilson and Gerald R. Ford.

☆ How to tell if a company's in trouble, or just its stock
▼ + stars: | 2022-10-13 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Broken stock, or broken company? A debate is currently raging as to whether the tech giant is a broken stock or a broken company, with shares down more than 60% since the start of the year. In that case, what we have here is broken stock, not a broken company. Of course, once you've determined whether you're looking at a broken stock or a broken company, the next step is to consider valuation. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

☆ Jim Cramer: My biggest worry with the Fed and why it has us in a holding pattern
▼ + stars: | 2022-09-18 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

There's a broad perception that Federal Reserve Chairman Jerome Powell does not care one whit about corporate news. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ What it's like working for lawmakers whose golden years are clouded by power struggles, rumors of senility, and constant second-guessing
▼ + stars: | 2022-09-13 | by ( Warren Rojas | ) www.businessinsider.com time to read: +25 min

Doug Heye, a Republican strategist, told Insider that some political maneuvering is more tactical. Emanuel, now the US's ambassador to Japan, didn't refute that the exchange took place but told Insider he didn't remember it. It serves the institution," the former GOP aide told Insider, adding that seasoned dealmakers are preferable to partisan bomb-throwers "with some agenda that they're driving." Paul Morigi/Getty ImagesWhite, now the executive director of the Mississippi Department of Transportation, told Insider his boss always had the final word. 'Preserving their dignity'Convincing career lawmakers to hang it up before they tarnish their respective legacies is tricky business, a veteran GOP leadership aide told Insider.

☆ The full timeline of Trump's known phone calls on the day of the January 6 insurrection
▼ + stars: | 2022-07-21 | by ( Grace Panetta | Kenneth Niemeyer | ) www.businessinsider.com time to read: +9 min

Here's the full timeline of Trump's known phone calls as recorded in official White House records. Trump speaks to lawyer Kurt Olsen, who played a key role in legal efforts to overturn the 2020 election. Hawley said he never returned Trump's calls on January 6, when he objected to election results at the joint session of Congress. Hawley said he never returned Trump's calls on January 6, when he objected to election results at the joint session of Congress. AP Photo/John MinchilloTrump spoke at the "Save America" rally at the Ellipse at noon and returned to the White House at 1:19 pm, according to White House records.

☆ Elon Musk has called Biden a 'damp sock puppet' and feuded with the president for months, but Biden shared some rare praise for the billionaire earlier this month
▼ + stars: | 2022-06-11 | by ( Grace Kay | ) www.businessinsider.com time to read: +1 min

Biden praised Musk earlier this month. Samuel Corum/Getty Images, Taylor Hill/Getty ImagesBiden praised Tesla after Musk committed to opening thousands of Tesla chargers to other brands. Previously, Tesla's chargers — which account for a large portion of EV chargers in the US — had been primarily accessible only to Tesla owners. "In building our EV charging network, we have to ensure that as many chargers work for as many drivers as possible," Biden tweeted on February 15. The news came after The Washington Post reported that the White House had come to Musk for help with expanding EV charging infrastructure in the US.

☆ EXCLUSIVE: Jared Kushner helped create a Trump campaign shell company that secretly paid the president's family members and spent $617 million in reelection cash, a source tells Insider
▼ + stars: | 2020-12-18 | by ( Tom Lobianco | Dave Levinthal | ) www.businessinsider.com time to read: +11 min

American Made Media Consultants became the source of consternation for President Donald Trump's campaign staff, who were kept in the dark about its operations. Despite its $617 million spending through AMMC, the Trump campaign publicly disclosed little information about the company, including how it used the money. Insider independently verified details of this person's account with other people close to the Trump campaign. The shell company — incorporated as American Made Media Consultants Corp. and American Made Media Consultants LLC — allowed Trump's campaign to skirt federally mandated disclosures. "Nothing was done without Jared's approval," the former Trump campaign advisor said.

☆ 'Barrett is like Jesus' for evangelical voters: Why confirming a new Supreme Court justice before the election mattered more to Republicans than another coronavirus stimulus
▼ + stars: | 2020-10-28 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +9 min

It pales in comparison to getting the Supreme Court justice," an expert told Insider. The federal judge — now a newly minted Supreme Court Justice — is the first nominee in US history to be confirmed this close to an Election Day. McConnell's 'leave no vacancy behind' mindset about the courtsAnd the timing couldn't have been more ideal for the party, experts told Insider. In total, the top Republican has overseen 220 confirmations, including three Supreme Court justices. The Supreme Court offers them a shortcut "to enforce these kinds of values that they're really concerned about."

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