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☆ House Democrats, looking to renew plan to expand Social Security, say debt ceiling fight 'hurts seniors the most'
▼ + stars: | 2023-05-23 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Social Security already faces funding risksIn order to prevent a Social Security funding shortfall, congressional Democrats and Republicans must agree on a solution. The Social Security 2100 Act that was introduced in the last Congress had broad support among House Democrats. Changes in the Social Security 2100 Actzimmytws | iStock | Getty ImagesThe Social Security 2100 Act aims to extend the program's solvency, though estimates are not yet available for how long it could prolong the program's funding. Social Security 2100 also calls for adding an additional 12.4% net investment income tax for taxpayers making more than $400,000. Max Richtman president and CEO of the National Committee to Preserve Social Security and Medicare

☆ Wall Street advances, Treasury yields rise as debt-ceiling debate rolls along
▼ + stars: | 2023-05-15 | by ( Stephen Culp | ) www.reuters.com time to read: +3 min

"It feels like there's some optimism regarding talks on the debt ceiling," said Joseph Sroka, chief investment officer at NovaPoint in Atlanta. "Part of that may be political gamesmanship, but it's helping the market a little bit today." European stocks ended the session higher as investors eyed ongoing U.S. debt ceiling negotiations and Turkey's impending election runoff. Emerging market stocks rose 0.54%. Gold edged higher in opposition to the weakening dollar as the ongoing debt ceiling standoff stoked fears of a global economic slowdown.

☆ Tech lifts Nasdaq, Treasury yields gain as debt ceiling debate plods on
▼ + stars: | 2023-05-15 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/2] A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 11, 2023. "It feels like there's some optimism regarding talks on the debt ceiling," said Joseph Sroka, chief investment officer at NovaPoint in Atlanta. European stocks ended the session higher as investors eyed ongoing U.S. debt ceiling negotiations and Turkey's impending election runoff. Emerging market stocks rose 0.53%. Gold edged higher in opposition to the weakening dollar as the debt ceiling standoff wore on, and investors clung to hopes of interest rate cuts by year-end, despite comments from Fed officials.

☆ What Biden, McCarthy, McConnell said about the US debt ceiling
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +5 min

Republican House Speaker Kevin McCarthy has said his chamber will not approve any deal that doesn't cut spending to address a growing budget deficit. PRESIDENT JOE BIDEN"I had a productive meeting with congressional leadership about the path forward, to make sure America does not default on its debt." Biden also did not rule out eventually invoking the 14th amendment to the U.S. Constitution, an untested approach that would seek to declare the debt limit unconstitutional. KEVIN MCCARTHY, SPEAKER, HOUSE OF REPRESENTATIVES"Everybody in this meeting, reiterated the positions they were at. MITCH McCONNELL, SENATE REPUBLICAN LEADER"We ought to have at least some restraint on our spending related to the debt ceiling, and this is not unusual.

☆ What Happens if Joe Biden Legally Challenges the Debt Ceiling - The New York Times
▼ + stars: | 2023-05-09 | by ( Robert Hockett | ) www.nytimes.com time to read: +2 min

After all, the only real alternative for Mr. McCarthy would be to go to court and seek to enjoin the president’s decision to continue to pay obligations — legal obligations already legislatively incurred. The impact of going to court to argue for defaulting on the nation’s debt, let alone the political optics for Mr. McCarthy, would be very risky. But it’s hard to see this availing them of anything other than impotent spectacle, further cementing their public image as unserious, especially if the president formally repudiates the debt ceiling now or this month rather than waiting until June. But suppose the Republicans take the president to court nonetheless. The president’s multiple arguments would be compelling, and the markets, in any case, are already pricing in worries of this sort.

☆ An MVP Shoves. An NBA Team Owner Falls. The Basketball World Decides: ‘Flop or Foul?’
▼ + stars: | 2023-05-08 | by ( Robert O Connell | ) www.wsj.com time to read: 1 min

In the NBA playoffs, players will do anything for an edge. But what about team owners? That question came up almost halfway through Sunday night’s game between the Denver Nuggets and Phoenix Suns. After Phoenix’s Josh Okogie sailed into the courtside seating to chase a loose ball, Denver star Nikola Jokic rushed to collect it, hoping to inbound the ball before Okogie had recovered. When Jokic tried to pry it from a spectator’s hands in Phoenix’s Footprint Center, a comedy of retaliatory gamesmanship ensued.

WilmerHale said in Monday's filing that it did not represent Wild and that its work with ECPAT was limited to filing the Supreme Court brief on a legal issue unrelated to the JPMorgan case. The firm argued that EPCAT as an outside organization was not directly involved in Wild’s case. WilmerHale attorneys accused the plaintiff of “gamesmanship” in attempting to disqualify JPMorgan’s preferred law firm. A lawyer for the plaintiff, Bradley Edwards, who previously also represented Wild, said in a court filing that WilmerHale lawyers had communicated with Wild’s attorneys about legal strategy. Wild is not a party in the New York case, but Edwards said that as a victim of Epstein, she is a potential member of the plaintiff class.

Such "skinny labels" typically allow generic drugmakers to launch their products earlier while avoiding liability for infringing brand-name drugmakers' patents. GSK sued Teva for patent infringement in Delaware federal court in 2014 over its generic version of Coreg. In its petition to the Supreme Court last year, Teva said the ruling would cause "havoc" for skinny labels, which it said are "extraordinarily common" and "save patients and the federal government billions." GSK countered that the case does not threaten generic drugmakers that "operate properly under the law." The Biden Administration backed Teva on Wednesday, arguing generic drugmakers should be entitled to rely on the FDA's carve-out instructions, which are based on brand-name drugmakers' own statements to the agency.

The chief judge has sole discretion over sealed federal grand jury proceedings. As chief judge, Boasberg is poised to rule on certain legal arguments raised in the grand jury probes, including efforts to restrict witnesses from testifying. Grand jury proceedings are kept from public view. Another special counsel, Robert Hur, was named by Garland in January to look into classified records found at Biden's home in Delaware and former office in Washington. During her tenure as chief judge, Howell regularly heard legal arguments in special counsel investigations.

☆ China Sticks Close to Russia as It Makes Cautious Diplomatic Push
▼ + stars: | 2023-02-25 | by ( Austin Ramzy | ) www.wsj.com time to read: 1 min

Russian President Vladimir Putin and Chinese leader Xi Jinping met in Beijing last year shortly before Russia’s invasion of Ukraine. HONG KONG—Over a year of war in Ukraine, Russia and China have grown closer. The next stage, as China seeks to cast itself as pushing for peace, will test whether Beijing is willing to put any distance between itself and Moscow. Aside from statements from China’s leader Xi Jinping that nuclear war must be avoided—the sort of truism few would argue with—China has offered no criticism of Russia’s actions. Even that nudging hasn’t stopped President Vladimir Putin from nuclear gamesmanship, highlighted by his stepping back from the New START treaty this week.

☆ Op-ed: Did House Speaker Kevin McCarthy really gain any power?
▼ + stars: | 2023-01-12 | by ( Heidi Heitkamp | ) www.cnbc.com time to read: +7 min

Last week, after ceding control to the ultra-right wing of his party, Rep. Kevin McCarthy became the 55th Speaker of the U.S. House of Representatives. This happened after the dysfunction and division of the Republican House majority was placed in full view to the American public. Most news coverage has focused on the historical uniqueness of this drama — the personality and sometimes physical conflicts — and the embarrassment to the House Republican Caucus. The U.S. Treasury estimates that the debt limit vote will be needed in August. Finally, securing a Republican majority in the House gave the Republican party the opportunity to move beyond Donald Trump as it's leader.

☆ House GOP seeks Biden family 'suspicious activity reports' from Treasury
▼ + stars: | 2023-01-11 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Jonathan-Allen-Circle-Byline-Template.Jpg | Jonathan Allen | ) www.nbcnews.com time to read: +3 min

WASHINGTON — House Republicans asked the Treasury Department Wednesday to turn over documents related to the business ventures of President Joe Biden's family members, including "suspicious activity reports" connected to Biden's son Hunter Biden and brother James Biden. And Hunter Biden is under investigation by federal prosecutors in Delaware. Trump and congressional Republicans have called on the Justice Department to prosecute Hunter Biden for a variety of alleged misdeeds. In Wednesday's letter, Comer asked Treasury for records of suspicious activity reports related to Biden family members and their business associates. In addition to Hunter Biden and James Biden, the letter names Sara Biden, James Biden's wife and President Biden's sister-in-law, and Biden family business associates Rob Walker, Eric Schwerin and Devon Archer.

☆ Venator Materials' investor pushes for board change amid plummeting stock price
▼ + stars: | 2023-01-10 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

J&T wrote that it has tried to work constructively with the Venator board since May 2022 but has encountered "apparent delay tactics and gamesmanship." "We strongly urge you to immediately add myself and another independent director to be nominated by us to the Board," the letter said. Venator said it has an open dialogue with all shareholders and has worked to engage in "constructive conversations" with J&T. Venator was spun off from chemical company Huntsman Corp (HUN.N) and its share price tumbled 71% in the last 52 weeks. While Venator rivals have directors with broad experience, the Venator board's skills are focused mainly on the chemicals industry and have prevented it from creating "a go-forward strategy to restore confidence among investors," the J&T letter said.

Separately, Apple may allow other companies to set up app marketplaces on its iPhone, Bloomberg reported. But that won’t trouble Amazon much: private-label sales were 1% of its total, founder Jeff Bezos told the Congress in 2020. Any offer from Apple to allow competing app stores carries a similar risk. Chief Executive Tim Cook could conceivably try the same trick with third-party iPhone app stores, for example by making users plug their device into a computer. These include allowing app stores operated by third parties on its iPhone, according to the report.

☆ Analysis: Drama specialists Argentina deserve their World Cup title
▼ + stars: | 2022-12-18 | by ( Julien Pretot | ) www.reuters.com time to read: +3 min

[1/5] Soccer Football - FIFA World Cup Qatar 2022 - Final - Argentina v France - Lusail Stadium, Lusail, Qatar - December 18, 2022 Argentina's Lionel Messi lifts the World Cup trophy alongside teammates as they celebrate after winning the World Cup REUTERS/Kai PfaffenbachLUSAIL, Qatar, Dec 18 (Reuters) - Sunday's World Cup final turned from a one-sided affair into a nerve-racking vintage showdown and it was somehow fitting that footballing diva Argentina prevailed over France amid the drama. "Argentina have been playing a World Cup final, not us," Deschamps said at halftime. The whole Argentina bench ran onto the pitch like headless chicken, but it was somehow not enough drama for a night to remember. France have conceded all the last 14 penalties against them in shootouts, with the last person to miss Luigi Di Biagio in the 1998 World Cup quarter-final. After France's shootout defeats in the Euro 2021 last 16 and 2006 World Cup final, it was a coherent end to a logic-defying final.

"You question my character with a typical prejudiced judgment of superiority," he said in an open message to Klinsmann, in remarks shared by the Iran team. "No matter how much I can respect what you did inside the pitch, those remarks about Iran culture, Iran national team and my players are a disgrace to football." 'FAMOUS DRAMATIC DIVES'Iran's football federation said it had sought clarity from world soccer governing body FIFA and demanded Klinsmann apologise and resign from the FIFA Technical Study Group. It also invited Klinsmann to visit the Iran team's World Cup camp "for a lecture on the millennial Persian culture and the values of football and sport". Queiroz, in his earlier remarks, said Klinsmann should socialise with his team and learn how much his players loved and respected football.

☆ Corporate America is bracing for a rise in activist investing. Meet the 13 lawyers on speed-dial when companies and investors fight for boardroom control.
▼ + stars: | 2022-11-23 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +11 min

Law firms including Olshan Frome Wolosky LLP and Schulte Roth & Zabel are go-tos for activist investors looking to change how companies do business. Kai Liekefett, who co-chairs Sidley's shareholder activism practice, last year successfully defended cloud company Box Inc. in a proxy fight by Starboard. Liekefett has also defended clients against major activist investors including Carl Icahn and Trian Partners. He has advised clients against major activist investors including Trian, Carl Icahn, Starboard Value and the billionaire Paul Singer. Lawrence Elbaum and Patrick Gadson, Vinson & ElkinsPatrick Gadson (L) and Lawrence Elbaum (R), co-heads of Vinson & Elkins' shareholder activism group.

A draft of the lawsuit was included in a Thursday filing by her lawyer Roberta Kaplan in Manhattan federal court, where Carroll is also suing Trump for defamation over an earlier statement about the incident. The proposed lawsuit seeks unspecified compensatory and punitive damages, and a retraction of Trump's statement. Carroll's earlier lawsuit stemmed from Trump's June 2019 statement denying that he raped her, and saying she concocted their alleged encounter to sell her forthcoming book. Trump's lawyers have proposed a May 8 trial that does not address the second lawsuit, court papers show. The case is Carroll v. Trump, U.S. District Court, Southern District of New York, No.

Under federal law, a president can retain personal records after leaving office, but these must be unrelated to official work. It is not clear from the redacted court filings exactly which documents Trump is claiming as personal. The department said Trump cannot assert executive privilege over any documents he has claimed as personal records because any such records must be unrelated to official duties. The Justice Department is appealing Cannon's decision to appoint a special master, telling the Atlanta-based 11th U.S. Cannon initially barred the department from using all of the seized records for its criminal investigation until Dearie's review is complete.

☆ Trump lawyers say he designated seized Mar-a-Lago documents 'as personal records' — DOJ says he can't do that 'simply by saying so'
▼ + stars: | 2022-11-14 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Former U.S. President Donald Trump talks to the press on the grounds of his Mar-a-Lago resort on midterm elections night in Palm Beach, Florida, U.S. November 8, 2022. Lawyers for former President Donald Trump are arguing that hundreds of documents that the FBI seized from his Florida residence are "personal" because he said so. But federal prosecutors say he cannot deem the records personal "simply by saying so." Those include the documents being personal or subject to executive privilege. In their filing last week, Trump's lawyers wrote, "The Presidential Records Act authorizes a sitting President to designate records as personal records during his term in office."

☆ Donald Trump finally gets served $250 million NY fraud lawsuit after 3 weeks — and a court order
▼ + stars: | 2022-10-17 | by ( Laura Italiano | ) www.businessinsider.com time to read: +3 min

NY's attorney general, Letitia James, sued the Trump Organization back on September 21. Reps for Donald Trump and Eric Trump finally got served, the AG said Thursday. Service took three weeks — and a judge's order — with the AG accusing Trump of 'gamesmanship.' Lawyers for all of the suit's other defendants, including Ivanka Trump and Donald Trump Jr., had meanwhile quickly accepted service. Habba and Robert have not responded to Insider's requests for comment on the delay in service of the lawsuit.

☆ Donald Trump may learn on Halloween if a court-imposed monitor will oversee his real-estate and golf empire
▼ + stars: | 2022-10-14 | by ( Laura Italiano | ) www.businessinsider.com time to read: +3 min

New York's attorney general has asked a Manhattan judge for a quick ruling in her Trump fraud case. The AG, Letitia James, wants the judge to immediately order Trump to submit to financial monitoring. James' office is hoping for a Halloween order barring the Trump Organization "from engaging in any fraudulent or illegal acts," according to court papers filed earlier Thursday. She has also asked the judge to appoint an independent monitor "to oversee compliance" with whatever ban on fraud or asset-shifting the judge imposes. Engoron repeatedly made same-day rulings after prior oral arguments involving James' probe of alleged financial wrongdoings at the former president's business.

☆ NY AG accuses Donald Trump and his son Eric of 'gamesmanship' for allegedly dodging service of her massive fraud lawsuit
▼ + stars: | 2022-10-10 | by ( Laura Italiano | ) www.businessinsider.com time to read: +3 min

NY Attorney General Letitia James sued Donald Trump, his family and his business on September 21. As of Friday, Donald Trump and Eric Trump had yet to formally accept service of the lawsuit, court documents say. The AG is already accusing the Trumps of 'gamesmanship' in the lawsuit, which alleges massive fraud. But two defendants remained unserved, the filing shows — Donald Trump and his son Eric Trump, who has been most hands-on in running the Trump Organization since his father won the 2016 election. Habba, two attorneys for Eric Trump, and the AG's office did not immediately respond to requests for comment.

☆ The FTC rejected Amazon's request to quash subpoenas ordering founder Jeff Bezos and CEO Andy Jassy to testify in a Prime investigation
▼ + stars: | 2022-09-22 | by ( Eugene Kim | ) www.businessinsider.com time to read: +4 min

The FTC declined Amazon's request to quash or limit subpoenas served to its executives over the agency's investigation into the Prime sign-up and cancellation process. The Federal Trade Commission has ruled against Amazon's request to quash or limit subpoenas served to top Amazon executives including founder Jeff Bezos and CEO Andy Jassy over the agency's investigation into the Prime sign-up process. In a previous filing, Amazon disclosed that some of its top executives, including founder Jeff Bezos and CEO Andy Jassy, were subpoenaed as part of the probe. Amazon has cooperated with the FTC throughout the investigation and already produced tens of thousands of pages of documents. The filing broadly cites Insider's story from March that first reported about Amazon's internal deliberations over the Prime sign-up and cancellation process.

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