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WASHINGTON — The Supreme Court could further weaken the power of federal agencies by agreeing on Friday to hear a dispute over a Federal Communications Commission program that requires companies to subsidize telecommunications services in underserved areas. The FCC case raises two interlinked issues, one of which concerns the broad question of whether Congress exceeded its powers. The FCC turned to the Supreme Court after the New Orleans-based 5th U.S. The Supreme Court earlier this year issued a series of rulings against federal agencies, including one overturning a 40-year-old precedent that gave leeway to agencies to interpret laws written ambiguously. Three of them serve on the Supreme Court.

Persons: WASHINGTON —, Andrew Oldham, Donald Trump's Organizations: Federal Communications Commission, FCC, Consumers, Research, Universal Service Fund, Universal Service Administrative Company, New, Circuit, Conservative, Oldham, Trump Locations: New Orleans

Here are eight health claims — with little or no scientific evidence to back them up — that Oz made over the years. Green coffee extract, the ‘magic weight loss cure’In 2014, Oz went to Washington to seek help fighting internet marketers who were using his name and image to sell weight loss products. Senators provided several examples from Oz’s own show, but much of the hearing focused on his claims about green coffee bean extract. The BMJ study from 2014 found that the majority of Oz’s health recommendations touched on nutrition and dietary advice. (The research shows no evidence that HCG is an effective weight loss tool.)

Persons: Donald Trump, Mehmet Oz, ”, he’s, Trump, Oz, Melania Trump, Kedric Payne, Richard Besser, Robert Wood Johnson, ” Besser, Dr, Besser, ” Karoline Leavitt, Vance, “ Dr, Trump’s, it’s, ’, Sen, Claire McCaskill, ” McCaskill, “, Joe Vinson, Bryan Burnham, Harriet Hall, kaempferol, —, Tim Sullivan, ” Sullivan, ” Oz, “ Life’s Organizations: Medicare, Medicaid Services, CMS, Robert Wood Johnson Foundation, U.S . Centers for Disease Control, NBC News, Federal Trade Commission, Washington Post, YouTube, Vox, The Washington Post, National Institutes of Health, Nutrition, Cancer, Drug Administration, FDA, CBS News, Business Locations: Washington, U.S, New Jersey

☆ DOJ says Trenton police violate civil rights, engage in unconstitutional conduct
▼ + stars: | 2024-11-22 | by ( Nbc New York | ) www.nbcnews.com time to read: +5 min

“Police officers must respect people’s civil and constitutional rights and treat people with dignity,” said Assistant Attorney General Kristen Clarke of the Justice Department’s Civil Rights Division in a statement on the report. “After an extensive review, we found that police officers in Trenton routinely failed to respect the Fourth Amendment rights of those who call Trenton home. Also, the report noted, since 2021, accusations of officer misconduct has cost the city more than $7 million to resolve lawsuits. “When police stop someone in Trenton, our investigation found that all too often they violated the constitutional rights of those they stopped, sometimes with tragic consequences. “Even prior to the USDOJ review, the City and the [Trenton Police Department] had already begun to change policies and practices that prioritize community safety, accountability, and respect for civil liberties.

Persons: ”, Kristen Clarke, ” ‘, stomped, Clarke, Philip R, Sellinger, Reed Gusciora, ” Gusciora, “ Organizations: Federal Department of Justice, Trenton Police Department, U.S . Constitution, U.S . Department of Justice, “ Police, Justice Department’s Civil Rights Division, Trenton, Justice Department, “, U.S, District of, Trenton Mayor, Constitution, Internal Affairs, Department of Law, Public Safety, Department of Community Affairs Locations: Trenton , New Jersey, U.S ., Trenton, Trenton , NJ, District of New Jersey, City

The Summary Environmental organizations are preparing to push back against the incoming Trump administration. Environmental groups are already gearing up for legal fights and soliciting donations accordingly. Environmental groups are gearing up to push back against the incoming Trump administration, which they expect to make sweeping policy changes more quickly than was seen when Donald Trump took office in 2017. The first Trump administration took at least 74 actions seen as weakening environmental policy, according to a tracker from the nonpartisan Brookings Institution. A cadre of environmental groups filed suit, and the monument was fully restored by Biden in 2021.

Persons: Trump, pare, Donald Trump, Joe Biden’s, Sean Hannity, Doug Burgum, Chris Wright, ”, Brett Hartl, Trump’s, “ We’re, Andrew Wetzler, it’s, Biden, Jillian Blanchard, “, ” Blanchard, Barack Obama, George Frey, Ethan Aumack, “ I’ll, ” Aumack, Wetzler, ” Wetzler Organizations: Biden, Infrastructure Investment, Jobs, Fox News, North Dakota Gov, Institution, Center for Biological, Natural Resources Defense Council, for Biological Diversity, Heritage Foundation, Good Government, Trust, Republican Party Locations: Southwest, Utah, Blanding , Utah, Arizona , Georgia, North Carolina, Washington

“They made themselves nuclear,” Howard Lutnick, the co-chair of Trump’s transition and his nominee to serve as Commerce Secretary, told CNBC in September. But with the campaign over, Trump’s transition team is turning to Project 2025 to help staff the next administration. Both Homan and Ratcliffe were listed as contributors to Project 2025, while Carr authored a chapter on the FCC. Brendan Carr, a contributor to Project 2025, is Trump's pick to lead the Federal Communications Commission. For instance, the Project 2025 policy blueprint and Trump’s “Agenda 47” featured similar ideas on mass deportations and slashing the federal bureaucracy.

Persons: Donald Trump, Trump, “, ” Howard Lutnick, Tom Homan, Brendan Carr, John Ratcliffe, Both Homan, Ratcliffe, Carr, Celal, Russ Vought, Roger Severino, Paul Dans, MAGA, lambasting, Lutnick, ”, it’s, ” Lutnick, Semafor, ’ it’s, That’s, Trump’s, Joe Biden’s, Kamala Harris ’, Sen, Mallory McMorrow, ” McMorrow Organizations: Commerce, CNBC, NBC News, Democrats, Trump, Federal Communications Commission, Getty, of Management, Republican National, Politico, Department of Health, Human Services, New York, Republican, NBC, Democratic, Oceanic, Atmospheric Administration, Democratic National Convention Locations: Anadolu, Grand Rapids, Michigan

☆ Goldman says 2025 will be the 'year of generating income'
▼ + stars: | 2024-11-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Goldman Sachs Asset Management is predicting 2025 will be the "year of generating income." One focuses on the S & P 500 — Goldman Sachs S & P 500 Core Premium Income ETF (GPIX) and another on the Nasdaq-100 index — Goldman Sachs Nasdaq-100 Core Premium Income ETF (GPIQ ). High-yield muni bonds Shah also sees opportunity for income within high-yield municipal bonds . "Municipal high yield is a good way of generating income that can compete with your appreciation," Shah said. GHYAX YTD mountain Goldman Sachs High Yield Municipal Fund Dividend stocks and bonds Investors can also turn to more traditional forms of income in dividend stocks and fixed income, Shah said.

Persons: Goldman, Ashish Shah, Shah, — Goldman Sachs, Goldman Sachs Organizations: Management, CNBC, Federal Reserve, Crane Data, nab, Investors, Goldman, Nasdaq, Goldman Sachs Nasdaq Locations: securitized

WASHINGTON (AP) — The Supreme Court on Friday stepped into a major legal fight over the $8 billion a year the federal government spends to subsidize phone and internet services in schools, libraries and rural areas, in a new test of federal regulatory power. The justices had previously denied two appeals from Consumer Research after federal appeals courts upheld the program. Circuit Court of Appeals, among the nation’s most conservative, ruled 9-7 that the method of funding is unconstitutional. The last time the Supreme Court invoked what is known as the non-delegation doctrine to strike down a federal law was in 1935. But several conservative justices have suggested they are open to breathing new life into the legal doctrine.

Persons: Biden, Trump Organizations: WASHINGTON, Universal Service Fund, Federal Communications Commission, Consumer Research, U.S, Circuit, FCC, Associated Press

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow SpaceX, Tesla, xAI and X may benefit from Elon Musk's position as head of government efficiencyAs head of the Department of Government Efficiency, Elon Musk has promised to slash $2 trillion from the federal budget. One way he's suggested doing this is by consolidating some of the country's over 400 federal agencies, many of which regulate his companies.

Persons: Elon Musk, he's Organizations: Tesla, Elon Musk's, Department of Government Efficiency

Sexual misconduct allegations against Matt Gaetz had drawn scrutiny after Mr. Trump said he wanted to nominate him for attorney general. Mr. Trump moved quickly to replace Mr. Gaetz with another conservative favorite. Federal prosecutors ultimately dropped the case against Mr. Gaetz, but their chart of payments was obtained by the ethics committee, which was investigating whether Mr. Gaetz had sex with the woman when she was underage. After she turned 18, Mr. Gaetz paid for sex with her on at least two other occasions, the person said. Mr. Trump seemed attracted to Mr. Gaetz as attorney general especially because of the former congressman’s willingness to blow things up.

Persons: Matt Gaetz, Trump, Donald J, Gaetz, Pam Bondi, Gaetz’s, Pete Hegseth, Robert F, Kennedy Jr, Vance, Mr, ” Mr, “ Matt, Jean Carroll, Hegseth, Kennedy, Elon Musk, Linda McMahon, JD Vance, “, ”, Todd Blanche, Blanche, implacably, Lisa Murkowski, Susan Collins of, Mitch McConnell of, John Curtis of Utah, Collins, McConnell, Murkowski, Curtis, John Cornyn, Kevin Cramer, Ginger Luckey, Kevin McCarthy, Andrew Bailey, Robert J, Giuffra Jr, Cromwell, Boris Epshteyn, Marco Rubio, Trump’s, Tim Balk, Michael Gold, Michael C, Bender, Karoun Demirjian, Robert Draper, Catie Edmondson, Maya C, Miller, Michael S, Schmidt, Noah Weiland Organizations: Senate, Justice Department, Republicans, Fox News, Trump, DOJ, Mr, SpaceX, World Wrestling Entertainment, Capitol, Republican, Fort Walton, Florida Panhandle, New York Times, Wednesday, The Times, CNN, Sullivan, Department, Justice, Alcohol, Tobacco, Firearms, Explosives, 119th Locations: Florida, Washington, Ohio, Monterey , Calif, Manhattan, Alaska, Susan Collins of Maine, Mitch McConnell of Kentucky, Texas, North Dakota, Fort, Fort Walton Beach, Missouri, New York

☆ Opinion | President Biden Should End This Turkey Pardoning Nonsense
▼ + stars: | 2024-11-22 | by ( Peter Singer | ) www.nytimes.com time to read: +2 min

Someone at the National Turkey Federation once had an idea: Let’s send a live turkey to Harry Truman for a presidential holiday feast! Previously, some individual turkey producers had sent their products to the president to promote them, but the greater resources of the National Turkey Federation meant that the story could be promoted more effectively. The turkey sent to President Truman was killed and eaten, as were turkeys subsequently sent to President Dwight Eisenhower. The turkeys pardoned by President Biden last Thanksgiving were supplied by America’s largest turkey producer, Jennie-O Turkey Store, part of the giant Hormel Foods Corporation. Other turkey producers also received many millions of dollars, part of a huge subsidy for U.S. turkey and chicken producers.

Persons: Harry Truman, Truman, Dwight Eisenhower, John F, Kennedy, ”, “, ” Kennedy, George H.W, Bush, Biden, Jennie Organizations: National Turkey Federation, Hormel Foods Corporation . Locations: Turkey

☆ Donald Trump chooses hedge fund executive Scott Bessent for Treasury secretary
▼ + stars: | 2024-11-22 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

President-elect Donald Trump signaled Friday his intention to nominate hedge fund executive Scott Bessent as his Treasury secretary, in a move that puts a seasoned market pro and a close Trump loyalist in a critical economic position. As head of Treasury, Bessent, 62, will be both the U.S. fiscal watchdog as well as a key official to help Trump enact his ambitious economic agenda. Like Trump, Bessent favors gradual tariffs and deregulation to push American business and control inflation. The Treasury secretary is the lynchpin for the White House economic agenda. Others close to the president-elect think Bessent has not been rigorous enough in his support for tariffs, though Warsh also has made public statements against the levies.

Persons: Scott Bessent, Donald Trump, Kevin Warsh, Marc Rowan, Trump, Bessent, George Soros, Soros, Jerome Powell's, Warsh, Janet Yellen, Elon Musk, Cantor Fitzgerald, Howard Lutnick Organizations: Key, Trump, Group, Treasury, Wall, World's, Investors, Yale University, Rockefeller University, Preservation, Wall Street, Federal Reserve, Federal, National Economic Council, White Locations: Washington , DC, U.S, Bessent

☆ The Pentagon's battle inside the U.S. for control of a new Cyber Force
▼ + stars: | 2024-11-22 | by ( Barbara Booth | ) www.cnbc.com time to read: +8 min

The revelations highlight the rising cyberthreats tied to geopolitics and nation-state actor rivals of the U.S., but inside the federal government, there's disagreement on how to fight back, with some advocates calling for the creation of an independent federal U.S. Cyber Force. Talent shortages, inconsistent training, and misaligned missions, are undermining CYBERCOM's capacity to respond effectively to complex cyber threats, it says. Known for his assertive national security measures, Trump's 2018 National Cyber Strategy emphasized embedding cyber capabilities across all elements of national power and focusing on cross-departmental coordination and public-private partnerships rather than creating a standalone cyber entity. Austin Berglas, a former head of the FBI's cyber program in New York who worked on consolidation efforts inside the Bureau, believes a separate cyber force could enhance U.S. capabilities by centralizing resources and priorities. "When I first took over the [FBI] cyber program … the assets were scattered," said Berglas, who is now the global head of professional services at supply chain cyber defense company BlueVoyant.

Persons: Ronald Reagan, Donald Trump, J.D, Vance, Mark Warner of Virginia, Paul Nakasone, Nakasone, Trump, Kristi Noem, Jen, John Cohen, Cohen, Austin Berglas, Berglas Organizations: Ronald Reagan Washington National Airport, Pentagon, U.S . Department of Defense, Senate Intelligence, New York Times, U.S . Cyber Force, Department of Defense, Foundation for Defense of Democracies, U.S . Cyber Command, Army, Navy, Air Force, Cyber Command, Department of Homeland Security, of Defense, of Homeland Security, Trump, Energy Department, Infrastructure Security Agency, Command, U.S, Center for Internet Security, CYBERCOM, Mission Force, Force Locations: ARLINGTON, VIRGINIA, Ronald Reagan Washington, Arlington , Virginia, China, U.S, America, Dakota, stovepipes, Russia, New York, Iran, North Korea

☆ Boeing faces further delays to new 737 Max jets as regulator reviews engine issue
▼ + stars: | 2024-11-22 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

AdvertisementThe FAA is reviewing an issue with the Boeing 737 Max's engine. Boeing could face further delays to new jets as regulators examine an engine issue. It comes after two incidents on Southwest Airlines Boeing 737 Max jets last year. On Thursday, the Federal Aviation Administration announced it was convening a review board to address an issue with the CFM LEAP-1B engine that powers the Boeing 737 Max. Coming up with that could further delay the certification of its 737 Max 7 and 737 Max 10 jets — the shortest and longest versions of Boeing's newest narrow-body plane.

Persons: Max, Pete Syme, Scott Kirby Organizations: Boeing, Seattle Times, Southwest Airlines Boeing, Max, Federal Aviation Administration, CFM, FAA, Air, Business, Alaska Airlines, Boeing's, United Airlines Locations: Cuba

☆ High-Yield Savings Accounts Are Still a Good Deal
▼ + stars: | 2024-11-22 | by ( Ann Carrns | ) www.nytimes.com time to read: +1 min

You’ve probably been discouraged to see the interest rate on your high-yield savings account fall during the past couple of months. But your money is still earning much more than it would in a traditional savings account — and more than inflation. Rates paid on cash in savings accounts have been dropping since the Federal Reserve began cutting its key interest rate in September as inflation cooled. Even so, the rates paid on federally insured high-yield savings accounts, many offered by banks that operate solely or mostly online, are still beating inflation, which was 2.6 percent on an annual basis in October. “High-yield savings accounts are still attractive relative to traditional savings accounts,” particularly for emergency or “rainy day” funds that savers want to be able to tap into quickly, said Alan Bazaar, chief executive and co-chief investment officer at Hollow Brook Wealth Management in Katonah, N.Y.

Persons: You’ve, Banks, “, Alan Bazaar Organizations: Federal Reserve, Wealth Management Locations: Katonah, N.Y

☆ New York City’s Congestion Pricing Plan Clears Final Bureaucratic Hurdle
▼ + stars: | 2024-11-22 | by ( Ana Ley | More About Ana Ley | ) www.nytimes.com time to read: +1 min

New York City’s congestion pricing program has cleared its last bureaucratic hurdle, and most drivers could soon be paying $9 to enter the busiest parts of Manhattan. The Metropolitan Transportation Authority, which runs the city’s mass transit network and will oversee the pricing plan, has been granted permission by the Federal Highway Administration to proceed with the tolls as planned, according to M.T.A. Congestion pricing would charge most motorists $9 to enter Manhattan below 60th Street during peak hours, down from the previously approved rate of $15. Although it has received final government approval, congestion pricing could still be undone, even after its start date. President-elect Donald J. Trump has also threatened to stop congestion pricing as one of his first acts in office.

Persons: Donald J, Trump Organizations: Metropolitan Transportation Authority, Federal, Administration Locations: York, Manhattan

☆ Trump Taps Investor Scott Bessent as Treasury Secretary
▼ + stars: | 2024-11-22 | by ( Alan Rappeport | Maggie Haberman | ) www.nytimes.com time to read: +1 min

President-elect Donald J. Trump picked Scott Bessent to serve as Treasury secretary on Friday, tapping a billionaire hedge fund manager to lead an economic agenda that is expected to be built around raising tariffs and cutting taxes. Mr. Bessent, the founder of the investment firm Key Square Capital Management, has emerged as a central economic adviser to Mr. Trump over the past year. Unlike many on Wall Street, Mr. Bessent, 62, has also defended the use of tariffs, which are Mr. Trump’s favorite economic tool. If confirmed by the Senate, Mr. Bessent would take over a department with vast responsibilities that is at the core of the federal government. The Treasury Department issues debt to fund the government’s operations and pay its bills, including paying Social Security and veterans benefits.

Persons: Donald J, Trump, Scott Bessent, Bessent, George Soros Organizations: Key, Capital Management, Democratic, Senate, Treasury, Social Security

☆ Opinion | We Wanted a New Republican Party. Trump Delivered.
▼ + stars: | 2024-11-22 | by ( Ross Douthat | ) www.nytimes.com time to read: +55 min

Barack Obama was elected president, and the mood in the Republican Party picked up on the mood you’ve already described. But in the end, what he did electorally was not in that election to build the pan ethnic working class Republican Party. But at the very least, there was the conventional wisdom was that the Republican Party had to move substantially to the left on immigration. I just think that if the Republican Party is not the party of private property and wealth building, so I don’t think. Is there any chance that the Republican Party is about to not be the party of private property and wealth building No, no, I think you’re right.

Persons: I’m Ross Douthat, Donald Trump didn’t, Trump, I’ve, Reihan Salam, Reihan, George W, I’m, pry, Ross, Ross Douthat, let’s, Bill Kristol, Bush, Boomer, Giuliani, Ronald Reagan, wasn’t, Bill O’Reilly, Ross Reihan, Bush’s, Barack Obama, Obama, That’s, Mitt Romney, Paul Ryan, Ryan, Rush Limbaugh, notionally, Jeb Bush, Marco Rubio, Bill Clinton, Donald J, Let’s, it’s, It’s, ”, Donald Trump, Rudy Giuliani, Will, electorally, Romney, we’d, didn’t, Pat, John McCain, Frank, Kavanaugh, Trump’s, George Floyd, Biden, hadn’t, progressivism, premised, ender, New Party ”, ryan, neoliberals, Steve Bannon, Steve Moore, we’re, Moore, Bannon didn’t, COVID, JD Vance, Elon Musk, Musk, he’s, Vance, hasn’t, Clinton, Hillary Clinton, Margaret Thatcher’s, Reagan, Roosevelt, Republican policymaking, we’ve Organizations: New York, Republican Party, Manhattan Institute for Policy Research, New Party, New York Times, Harvard Institute of Politics, Harvard, The, Democratic, Great Society, Republicans, Republican, Reagan Democrats, Tribune, Trump, Perot, Tea Party, Party, Social Security, Grand New Party ”, Romney, Obama Trump voters, GOP, Amnesty, Reagan, Biden, American, America, romney, Infrastructure, Clinton Democrat, Uc Locations: Washington , DC, Northwestern, Washington ,, New York, Washington, Iraq, America, “, China, American, United States, Clinton, it’s, Nevada

☆ Dollar hugs 13-month peak as market awaits next Fed cue
▼ + stars: | 2024-11-22 | by ( ) www.cnbc.com time to read: +4 min

Global PMIs are due later in the day, although those figures should not "change the dial too much," said Tony Sycamore, market analyst at IG. Recent comments from Fed officials, including Chair Jerome Powell, have indicated the central bank may take a slower course in its rate cut path. Among Trump policies on weighing on investors' minds were the president-elect's campaign pledges of tariffs, with Europe and China both likely in the firing line. The euro , which makes up a hefty portion of the dollar index, steadied at $1.0475 after falling to a 13-month low of $1.0461 on Thursday. The dollar was last down 0.17% on the day at 154.27 yen.

Persons: Tony Sycamore, It's, it's, Sycamore, Donald Trump's, Jerome Powell, CME's, Trump, Sterling, Bitcoin, Marcel Thieliant, Kazuo Ueda Organizations: The U.S, greenback, Bank of Japan's, Global, IG, U.S, PCE, Trump, Capital Economics Locations: Rio de Janeiro, Brazil, The, Europe, China, Russia, Ukraine, Germany, Asia

☆ Cramer names oil and natural gas stocks set to do well under Trump
▼ + stars: | 2024-11-22 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Friday said companies related to natural gas and oil will thrive under President-elect Donald Trump's administration and a majority Republican Congress. "If you want a sustainable Trump trade, I say bet on the natural gas ecosystem. Enbridge says it transports about 20% of all natural gas consumed in the U.S., and Cramer claimed the Canadian outfit has "strategically located assets." He also named Cheniere and Sempra , saying the former is the "best play" for liquified natural gas exports. "Seasonally, this is a good time for the commodity," he said, pointing out that natural gas itself has climbed since the election.

Persons: CNBC's Jim Cramer, Donald Trump's, Joe Biden's, Cramer, Trump, Chris Wright, Kinder Morgan, Enbridge Organizations: Republican Congress, Trump, Department of Energy, Energy Locations: underperform, U.S

☆ Buy these cheap stocks with high cash levels as new Trump tariffs loom, UBS says
▼ + stars: | 2024-11-22 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

President-elect Donald Trump's tariff plans could weigh on the broader stock market, but some attractively valued names with strong cash levels could withstand the pressure, according to UBS. "The rally overlooks the potentially negative knock-on implications of tax cuts and tariffs on corporate performance and valuations." Against that backdrop, UBS looked for stocks that have high levels of cash and are attractively valued. The stock has a dividend yield of 2.7%. It has a dividend yield of 2.2%.

Persons: Donald Trump's, Trump, Michel Lerner, Lerner, Smoot, Paychex, Jason Kupferberg Organizations: UBS, Bank of America, CVS, Federal Trade Commission, Glenview Capital Locations: China, U.S, Hawley

☆ Trump's former chief of staff says Elon Musk will have an easier time getting to Mars than making proposed DOGE cuts
▼ + stars: | 2024-11-22 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +2 min

AdvertisementMick Mulvaney said he doubts Musk can cut $2 trillion from the federal budget, per NYT. Mulvaney also told clients he doesn't think Musk will be around long enough to his cuts through. Musk and Ramaswamy outlined their cost-cutting plans in a recent opinion piece. Mick Mulvaney, President-elect Donald Trump's second chief of staff, doubts that Elon Musk will achieve his lofty goal of slashing $2 trillion from the federal budget, sources told the New York Times. Musk founded SpaceX with a goal of colonizing the Red Planet and wore an "Occupy Mars" shirt at a Trump rally in October.

Persons: Mick Mulvaney, Mulvaney, Ramaswamy, Donald Trump's, Elon, Musk, Elon Musk, Vivek Ramaswamy, doesn't, David Sacks, Palantir, Joe Lonsdale, he's, Cantor Fitzgerald, Howard Lutnick Organizations: New York Times, Actum, Times, SpaceX, Trump, Department of Government, Management, Street

☆ How Elon Musk’s plan to slash government agencies and regulation may benefit his empire
▼ + stars: | 2024-11-22 | by ( Magdalena Petrova | ) www.cnbc.com time to read: +2 min

Some of his ventures already benefit tremendously from federal contracts. SpaceX has received more than $19 billion from contracts with the federal government, according to research from FedScout. Musk, who has frequently blamed the government for stifling innovation, could also push for less regulation of his businesses. Musk and Ramaswamy also championed the large-scale auditing of agencies, calling out the Pentagon for failing its seventh consecutive audit. To learn how else Elon Musk and his companies may benefit from having the ear of the president-elect watch the video.

Persons: Elon, Geoff Orazem, Vivek Ramaswamy, Trump, Ramaswamy, Elon Musk, Lora Kolodny Organizations: Company, SpaceX, Trump, Republican, Department of Government, Street, Congress, Pentagon, CNBC Locations: FedScout

☆ Judge considering Sean ‘Diddy’ Combs’ third request for bail
▼ + stars: | 2024-11-22 | by ( Kara Scannell | ) edition.cnn.com time to read: +4 min

It was Combs’ third attempt before a federal judge to seek bail after two other judges found there were no conditions that alleviated concerns Combs was engaging in alleged witness tampering and posed a danger to women. Slavik claimed Combs violated the judge’s order limiting public statements and said Combs admitted it in one message. Earlier this year, CNN acquired and published surveillance footage depicting several different angles of the assault, which were edited together to help more clearly illustrate the incident. Slavik said prosecutors provided Combs’ team with cell phone video of the same assault that is captured on the hotel surveillance video. That was not edited.”Slavik said the government does not have the original surveillance video.

Persons: Sean “ Diddy ” Combs, Arun Subramanian, Combs, Christine Slavik, ” Slavik, Slavik, hasn’t, ” Combs, Marc Agnifilo, Cassie Ventura, Shapiro, ” Shapiro, ”, “ Organizations: NY CNN —, Intercontinental, CNN Locations: York, NY, Slavik, Miami, Manhattan, Los Angeles

☆ Trump picks Project 2025 co-author to lead White House’s budget office
▼ + stars: | 2024-11-22 | by ( Kaitlan Collins | ) edition.cnn.com time to read: +2 min

CNN —President-elect Donald Trump has selected Russell Vought as his pick to lead the Office of Management and Budget, he said in a Truth Social post. Vought was one of the key authors of Project 2025 – the conservative blueprint that Trump tried to distance himself from during the campaign. He was Trump’s former budget director during his first administration when Vought oversaw a widespread deregulation push. During Trump’s first administration, Vought made a name for himself as a policy wonk committed to the MAGA movement. Before serving as Trump’s budget director, Vought was the deputy director and later acting director of OMB.

Persons: Donald Trump, Russell Vought, Trump, ” Trump, MAGA, Vought, Mike Pence Organizations: CNN, Management, Budget, OMB, Center, CRA, Heritage Foundation, Trump –, Mandate, Leadership, Republican National Convention Locations: America

☆ Cramer's week ahead: Earnings from Dell, CrowdStrike and several big retailers
▼ + stars: | 2024-11-22 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Friday previewed next week's important Wall Street action, suggesting it's wise to pay attention to a slew of retail earnings as well as reports from Dell and CrowdStrike . Tuesday is a big day for retailers, with reports from Best Buy , Abercrombie & Fitch , Kohl's , Macy's , Burlington Stores and Dick's Sporting Goods . He added that some retailers whose earnings weren't great still saw their stocks soar but others got badly dinged, like Target . He said investors might want to buy some Dell stock now and some after earnings if it pulls back. While stock action tends to slow during the rest of the holiday week, Cramer pointed out that on Wednesday the government will release the latest personal consumption expenditures index.

Persons: CNBC's Jim Cramer, Cramer, Wall, Smucker, weren't, Dell Organizations: Dell, Body, Abercrombie, Fitch, Kohl's, Burlington Stores, Dick's Sporting Goods, Target, Nvidia, HP, Federal Reserve Locations: Macy's

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