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☆ Nikki Haley is now the top GOP alternative to Trump, but her window to maintain momentum is narrow. Can she pull it off?
▼ + stars: | 2023-11-28 | by ( John L. Dorman | ) www.businessinsider.com time to read: +6 min

Nikki Haley has gained real momentum for her White House campaign. The GOP is still Trump's party, so Haley will have to withstand difficult dynamics headed into 2024. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Jeb Bush was unable to blunt Donald Trump's momentum ahead of the 2016 GOP primaries. But then came Trump, who flipped the script when he entered that year's GOP contest.

Persons: Nikki Haley, Haley, —, Ron DeSantis, Donald Trump, She's, Koch, Jeb Bush, Donald, Sean Rayford, Trump, Bush, Bush , Florida Sen, Marco Rubio, Texas Sen, Ted Cruz, Bush's, Rubio, Cruz, Joe Biden, California Sen, Kamala Harris, Massachusetts Sen, Elizabeth Warren, Harris, Warren underperformed, Biden, Vermont Sen, Bernie Sanders, Pete Buttigieg, Buttigieg, Sanders soldiered, Jim Vondruska, credibly, Vivek Ramaswamy, Ramaswamy Organizations: S.C, GOP, Service, Florida Gov, Trump, Prosperity, Republican, Super, New, Vermont, South Carolina, Super Tuesday, she'll Locations: Iowa, New Hampshire, Florida, Bush , Florida, Texas, California, Massachusetts, Nevada, South, Warren, Des Moines , Iowa, Republican, New Hampshire , Iowa, South Carolina

The back-and-forth points to what could be a key issue in a general election rematch between Trump and Biden if both win their parties' nominations as widely expected. Political Cartoons View All 1267 ImagesHealth care has generally been a better issue for Democrats than Republicans, who have largely abandoned efforts to repeal the law in recent years. But Trump weighed in on the issue Saturday morning on his Truth Social site. A recent ABC News/Ipsos poll found 37% of Americans trust Democrats to do a better job than Republicans on handling healthcare, versus about 1 in 5 — 18% — who trust Republicans over Democrats on this issue. Still, a June 2023 AP-NORC poll showed a minority of U.S. adults — 44% — approving of how Biden was handling health care, with 53% disapproving.

Persons: Donald Trump, Joe Biden, “ Donald Trump’s, ”, Biden, Harris, Ammar Moussa, Trump, it’s, I’m, “, Sen, John McCain, Elizabeth Warren, Mike Braun, Moussa, –, Zeke Miller, Linley Sanders Organizations: Affordable, Democratic, GOP, Trump, Republicans, Republican, Republican Party, ABC, Democrats, Wall, ” Biden's Department of Health, Human Services, Associated Press Locations: U.S, Sens, Washington

☆ Elizabeth Warren Has an ObamaCare Epiphany
▼ + stars: | 2023-11-25 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week’s best and worst from Kim Strassel, Kyle Peterson, Mary O'Grady and Dan Henninger. Images: AP/AFP/Getty Images/Reuters/Zuma Press Composite: Mark KellyIt took 13 years, but Elizabeth Warren is at long last acknowledging that ObamaCare has increased healthcare prices and industry consolidation. Government price controls and profit caps have resulted in unintended consequences. The Massachusetts Senator and Republican Sen. Mike Braun of Indiana this week wrote a letter to the Health and Human Services Department inspector general complaining that the nation’s largest health insurers are dodging Obama Care’s medical loss ratio (MLR). The result, they say, is higher costs for patients.

Persons: Kim Strassel, Kyle Peterson, Mary O'Grady, Dan Henninger, Mark Kelly, Elizabeth Warren, ObamaCare, Republican Sen, Mike Braun, Obama Organizations: Getty, Zuma, Republican, Health, Human Services Department Locations: Massachusetts, Indiana

☆ Senators Call for Investigation of Health Insurers’ Role in Driving Up Drug Costs
▼ + stars: | 2023-11-22 | by ( Joseph Walker | ) www.wsj.com time to read: 1 min

Sen. Elizabeth Warren, a Democrat from Massachusetts, is one of the two lawmakers who sent the federal government a letter urging a probe into high drug prices. Photo: Al Drago/Bloomberg NewsA pair of U.S. senators called on the federal government to investigate health insurers that are paying high prices for generic drugs for serious diseases like cancer and multiple sclerosis. Sen. Elizabeth Warren (D., Mass.) and Sen. Mike Braun (R., Ind.) sent a letter on Wednesday to the U.S. Department of Health and Human Services’ Office of Inspector General requesting an investigation into the high drug prices and any role played by health insurers’ shared ownership with the pharmacies that often fill the prescriptions.

Persons: Sen, Elizabeth Warren, Al Drago, Mike Braun, ’ Organizations: Bloomberg, U.S . Department of Health, Human Services ’ Locations: Massachusetts, Ind

Sen. Jeff Merkley became the second senator to call for a cease-fire in the Israel-Hamas war this week. And with recent polling showing that a majority of Americans support a cease-fire in Gaza, the pressure from constituents has been thick. Sen. Chris Coons was badgered on a train about why he hadn’t endorsed a cease-fire. Both have drawn attention to humanitarian concerns in Gaza in recent weeks but stopped short of calling for a cease-fire. “I and others defended Israel’s right to respond with a campaign targeted at destroying Hamas,” Merkley wrote .

Persons: Sen, Jeff Merkley, Elizabeth Warren, Chris Coons, hadn’t, Israel –, –, Dick Durbin, Biden, Cori Bush, Joe Biden, eyeing, Benjamin Netanyahu’s, “, Chuck Schumer, Bernie Sanders, Netanyahu’s, Ilhan Omar, she’s, J, Edwin Benton, ”, ” Benton, ” Merkley Organizations: Oregon Democrat, White, Hamas, Democrats, Illinois Democrat, NBC, Biden, Israel, Minnesota Democrat, University of South Locations: Israel, Oregon, Gaza, Sen, Massachusetts, Illinois, Missouri, lockstep, ”, Vermont, Minnesota, University of South Florida

☆ A growing number of student-loan borrowers are slowly benefitting from a new process that would get rid of their debt in court
▼ + stars: | 2023-11-17 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The Education and Justice Departments said their new bankruptcy guidance for student-loan borrowers is a success. They said 632 borrowers have filed for relief in the first 10 months of the new process. But they did not include the exact number of borrowers that have actually gotten that relief. AdvertisementOver the past year, a growing number of student-loan borrowers have tapped into a new process to help them get rid of their debt in court. On Thursday, the Education and Justice Departments announced a "successful first year" of its updated guidance to help borrowers discharge their debt through bankruptcy.

Persons: —, there's, Vanita Gupta, Aaron Ament, Ament, Massachusetts Sen, Elizabeth Warren, General Merrick Garland, Ron DeSantis, we've, DeSantis Organizations: Justice, Service, Education, Justice Department, Student Defense, Education Department, Duke Law, Department, Democratic, Republican, GOP Florida Gov Locations: Massachusetts

☆ ‘What Have We Become?’ How Congress Came To Be So Boorish
▼ + stars: | 2023-11-16 | by ( Kaia Hubbard | ) www.usnews.com time to read: +7 min

They’re members of Congress. “I mean, straighten up here.”Even before this week, a number of vulgar refrains, heated exchanges and a near physical altercation punctuated this Congress after festering in recent years. What have we become?’”Indeed, this Congress seemed to kick off with drama baked in. The picture of this Congress is a stark departure from expectations for lawmakers in recent history. “For a lot of members, Congress is not a legislature so much as it is a reality television show about a legislature,” C. Lawrence Evans, a professor of government at the College of William & Mary, says.

Persons: –, “, ” Sen, Mazie, Elizabeth Warren, There's, ” Dan Lamb, it's, Matt Gaetz, Kevin McCarthy, Marjorie Taylor Greene’s, Hunter Biden, Lauren Boebert, Adam Schiff, Greene, Tim Burchett, McCarthy, Jared Moskowitz, James Comer, Sen, Markwayne Mullin, Barack Obama, Lindsey Williams Drath, ” Drath, ”, Drath, Lawrence Evans, College of William & Mary, “ It's, they’re, Mullin, ” Evans, Mike Johnson, Gaetz, Cynthia Lummis, Bernie Sanders, Sanders, Donald Trump, Trump, ” Sanders, Charles Sumner Organizations: Hawaii Democrat, Cornell University, Georgia Republican, Colorado Republican, House Republicans, California Democrat, New, New York Democrat, South Carolina Republican, Forward Party, Republican Party, College of William &, Wyoming Republican, Trump, Capitol Locations: Mazie Hirono, Hawaii, Massachusetts, Colorado, California, New York, Wyoming, Vermont, America, legislating, Arizona

☆ US senators demand documents from Meta over its handling of teen mental health
▼ + stars: | 2023-11-15 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

Washington CNN —A group of US senators is demanding that Meta CEO Mark Zuckerberg hand over troves of emails and documents that could show how the company handled the knowledge that its platforms could harm the mental health of teens. The company didn’t immediately respond to a request for comment on the letter. Meta spokesman Andy Stone said that the company is in touch with the members who signed the letter. The letter further accuses Meta of showing an “apparent willful disregard” for young people’s well-being, of “misrepresentations to Congress” and of “profiting from threats” to user safety. The letter requests a response by Nov. 30 and calls for Meta to provide its correspondence related to Bejar’s warnings to executives, as well as senior leaders’ own correspondence with Zuckerberg about proposed investments in user well-being.

Persons: Mark Zuckerberg, Zuckerberg, ”, Connecticut Democrat Richard Blumenthal, Tennessee Republican Marsha Blackburn, Dick Durbin, South Carolina Republican Lindsey Graham, South Carolina Republican Lindsey Graham ; Massachusetts Democrat Elizabeth Warren, Missouri Republican Josh Hawley, Meta, Arturo Bejar, Andrea Joy Campbell, didn’t, Andy Stone, people’s, ’ Organizations: Washington CNN, Facebook, Connecticut Democrat, Tennessee Republican, South Carolina Republican, South Carolina Republican Lindsey Graham ; Massachusetts Democrat, Missouri Republican, Meta Locations: Massachusetts, Connecticut, Tennessee, Illinois, South Carolina Republican Lindsey Graham ; Massachusetts, Missouri

Federal rules require banks to reimburse customers for payments made without their authorization, such as by hackers, but not when customers themselves make the transfer. Following its launch in 2017, Zelle grew to become one of the largest U.S. peer-to-peer payments networks by total payments. A March 2022 New York Times report that scams were flourishing on Zelle caught the attention of lawmakers frequently critical of big banks, including Senator Elizabeth Warren. He said Zelle has seen "a step-change reduction" in fraud and scam rates this year but declined to provide details. Chance said EWS has been engaging with policymakers on the need for a "holistic approach" to combating scams, including advocating for more dedicated law enforcement resources.

Persons: Jamie Dimon, Jane Fraser, Brian Moynihan, Banks, Ben Chance, Zelle, Elizabeth Warren, Warren, Dimon, EWS, Chance, ”, Trace, Carla Sanchez, Adams, we're, Lindsey Johnson, Hannah Lang, Chris Prentice, Michelle Price, Rod Nickel Organizations: JPMorgan Chase, Citigroup, Bank of America, Banking, Housing, Urban Affairs, Capitol, Warning, Reuters, Federal, JPMorgan, New York Times, Federal Trade Commission, Consumer Financial Protection Bureau, PayPal, National Consumer Law, Consumer Bankers Association, Thomson Locations: Zelle, U.S, Warren, Washington, New York

☆ Emails reveal how Amazon and Google tap friends in government to influence policies. Critics say there's too much 'coziness' with Big Tech.
▼ + stars: | 2023-11-10 | by ( Hugh Langley | ) www.businessinsider.com time to read: +7 min

When you work as a Big Tech lobbyist, there's a good chance you're already friends with someone in government. In 2022, 82.4% of Amazon lobbyists and 81.3% of Alphabet lobbyists previously held government jobs, according to data from OpenSecrets. "Big Tech uses its special revolving door access to furtively push for rigged trade policies," Warren wrote. The emails are limited to correspondence with Amazon and Google lobbyists and do not include communications with representatives of other tech companies. Big Tech critics say this access to policymakers is not granted to the public or civil-society groups, and that's why Warren and others have called for more transparency.

Persons: there's, Sen, Elizabeth Warren, Katherine Tai —, Warren, Tai, Andrea Boron, Mary Thornton, Karan Bhatia, Google's, Byun, Jillian DeLuna, Thornton, Bhatia, Kate Kalutkiewicz, USTR, Maria Langholz, Trump, Biden, Amazon's Thornton, Ethan Holmes, Joe Biden, Jonathan Ernst, That's, José Castañeda Organizations: Big Tech, United States Trade Representative, Google, Amazon, Amazon Web Services, YouTube, Amazon Prime, Spotify, Canada's, Demand, Prosperity, Reuters Locations: Big, Asia, China, Bali, Tokyo

☆ Some student-loan borrowers are surprised to find their accounts are suddenly in forbearance. Here's why that might be happening.
▼ + stars: | 2023-11-09 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Some student-loan borrowers are logging into their accounts and seeing it in forbearance. AdvertisementAdvertisementIf you recently logged into your student-loan account and were surprised to see it placed in forbearance, you're not alone. Over the past few days, student-loan borrowers primarily serviced by MOHELA have logged into their accounts to see their loans were no longer in active repayment. Still, the borrower's account continues to show a payment due with interest accruing, according to documents reviewed by Insider. AdvertisementAdvertisementWas your student-loan account placed on administrative forbearance without any notice?

Persons: servicer, —, MOHELA, servicers, forbearance, Scott Buchanan, Elizabeth Warren, Ed Markey, Chris Van Hollen, Richard Blumenthal, Scott Giles Organizations: Department, Service, Public, Student Loan, — Locations: forbearance, MOHELA, Sens

☆ Pressure grows on US Treasury to salvage trucking giant Yellow
▼ + stars: | 2023-11-08 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +3 min

THE TAKERepublicans and Democrats pushing Treasury could benefit Jack Cooper, one the largest U.S. privately owned auto transport companies, making its long-shot bid to rescue Yellow from bankruptcy liquidation more likely. Making Yellow’s "loan repayment terms more flexible, is a commonsense step to keep Yellow’s trucks on the road, and keep its workforce gainfully employed," he wrote. Yellow's assets include 12,000 trucks and 35,000 trailers, along with hundreds of terminals, according to its bankruptcy court filing. Yellow said in its bankruptcy filing it had $2.15 billion in assets and $2.59 billion in debt. WHAT'S NEXTA final decision by Treasury on whether it will extend the loan is expected this month, as the bankruptcy proceeds to a potential sale of assets.

Persons: Mike Blake, Josh Hawley, Trump, Roger Marshall, Sherrod Brown, Bob Casey, Elizabeth Warren, Ed Markey, Jack Cooper, Jack Cooper's, Hawley, gainfully, Biden, Jarrett Renshaw, Heather Timmons, Matthew Lewis Organizations: U.S, U.S . Treasury, Republicans, Democrats, Reuters, Treasury, Republican, Democratic, Walmart, International Brotherhood of Teamsters, Thomson Locations: Mexico, San Diego , California, U.S, Philadelphia

☆ A major student-loan company is giving millions of borrowers 'inadequate' information as it works to solve billing inaccuracies, 4 Democratic lawmakers say
▼ + stars: | 2023-11-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Education Department withheld pay from student-loan company MOHELA over repayment errors. AdvertisementAdvertisementSeveral Democratic lawmakers aren't happy with the way a major student-loan company is resolving account errors for millions of borrowers. @MOHELA has failed to provide borrowers with accurate, timely information about their loans, forcing millions into forbearance. The Education Department said it will continue oversight over servicers to crack down on mistakes that are putting borrowers at risk. Are you experiencing challenges with student-loan repayment?

Persons: MOHELA, —, aren't, Elizabeth Warren, Ed Markey, Chris Van Hollen, Richard Blumenthal, Scott Giles, forbearance, @MOHELA, yKdYeyTfV3 — Ed Markey, Giles, MOHELA's, Miguel Cardona Organizations: Department, Service, Democratic, Education Department, MOHELA, Federal Locations: Sens

☆ U.S. suspends Indo-Pacific talks on key aspects of digital trade -lawmakers
▼ + stars: | 2023-11-08 | by ( David Lawder | ) www.reuters.com time to read: +3 min

The halt comes after the U.S. Trade Representative's office last month reversed longstanding U.S. digital trade demands at the World Trade Organization -- no longer insisting on rules that protect free cross-border data flows and prohibit national requirements for data localization and reviews of software source code. The U.S. Trade Representative's office said it withdrew its position to give Congress room to enact stronger technology regulations. "We thank you for suspending negotiations on aspects of the IPEF digital text that can be used to frustrate privacy, AI, civil rights and liberties, anti-monopoly, gig worker and other digital safeguards that Congress and the administration seek," the lawmakers wrote. People familiar with the talks say that discussions on the digital trade chapter have largely ground to a halt because the U.S. position is now unclear and being reevaluated. A USTR spokesperson declined comment on the IPEF digital talks.

Persons: Elizabeth Warren, Julia Nikhinson, Biden, IPEF, Amy Klobuchar, Pramila Jayapal, David Lawder, Leslie Adler Organizations: Intelligence, U.S, Capitol, REUTERS, Rights, Democratic, U.S . Trade, World Trade Organization, Representatives, Commerce Department, Asia Pacific Economic Cooperation, Tech, Thomson Locations: Washington , U.S, U.S, Mexico, Canada, IPEF, San Francisco, Asia, China

Voters in Ohio will decide on enshrining abortion rights in the state constitution, as well as legalizing recreational marijuana use. Will voters in Ohio back abortion rights? Beyond abortion, the most watched initiative will be, again, in Ohio, where voters will decide whether cannabis should be legalized for recreational use. That could put pressure on Congress to move forward legislation at least to ease restrictions on interstate banking for legal cannabis businesses. Texans will also decide whether to raise the mandatory retirement age of state judges to 79, from 75.

Persons: Biden’s, Donald J, Trump, Biden, Glenn Youngkin, Youngkin, Daniel Cameron, Andy Beshear, Steve Beshear, Beshear, Roe, Wade, Frank LaRose, Thomas E, Dobbs, Jackson, Tate Reeves, Brandon Presley, Presley’s, Brett Favre, Reeves, I’ve, Mr, Presley, Elvis Presley, Elizabeth Warren of Organizations: New York Times, Democratic, Republican, State Senate, Republicans, —, Supreme, Affordable, Mississippi Public Service Commission, Texans, Liberal Locations: Ohio, Ohio , Kentucky, Virginia , Mississippi, Siena, Virginia, Kentucky, Richmond, Kansas, Mississippi, Dobbs v, Nettleton, Elizabeth Warren of Massachusetts

☆ 3,500 student-loan borrowers got $109 million in debt wiped out after being 'cheated' by their schools. Top Democrats want relief for taxpayers, too.
▼ + stars: | 2023-11-07 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Some Democrats want the Education Department to recoup funds from Ashford and University of Phoenix. The department previously accused those schools of fraud, granting thousands of borrowers debt relief. The lawmakers want the schools to pay up so taxpayers don't foot the bill for the relief. The Democrats referenced two recent actions to provide relief for borrowers who went to for-profit schools accused of predatory behavior: $72 million in relief for 2,300 borrowers "cheated" by Ashford University, and $37 million in relief for 1,200 borrowers "deceived" by the University of Phoenix, according to the Education Department. AdvertisementAdvertisement"This would send a strong warning signal to other predatory for-profit colleges that there are substantial financial consequences for defrauding students," the Democrats wrote.

Persons: —, Joe Biden, Sen, Dick Durbin, Rosa DeLauro, — Sen, Elizabeth Warren —, Secretary Miguel Cardona, ike, hoenix, J ames Organizations: Education Department, Ashford and University of Phoenix, Service, Secretary, Ashford University, University of Phoenix Locations: Ashford, Phoenix

☆ Election Day 2023 Voters to Offer Clues on Abortion Politics and 2024 in Off-Year Election Day
▼ + stars: | 2023-11-07 | by ( Neil Vigdor | Sarah Baird | ) www.nytimes.com time to read: +7 min

Voters in Ohio will decide on enshrining abortion rights in the state constitution, as well as legalizing recreational marijuana use. Will voters in Ohio back abortion rights? Even in deeply Republican states like Kansas, voters have overwhelmingly supported abortion access. Beyond abortion, the most watched initiative will be, again, in Ohio, where voters will decide whether cannabis should be legalized for recreational use. If voters agree, Ohio would become the 24th state to legalize marijuana.

☆ Opinion: The Supreme Court may make America’s gun violence problem even worse
▼ + stars: | 2023-11-06 | by ( Opinion Shannon Watts | ) edition.cnn.com time to read: +7 min

It’s also a clear sign that the gun safety movement needs to get to work reforming the Supreme Court. Regardless of how Rahimi is decided, the Supreme Court has already done enormous damage to our ability to keep Americans safe from gun violence. We need Supreme Court expansion to restore balance and sanity to the Court. Fortunately, Supreme Court expansion is clearly constitutional: Congress has done it multiple times throughout American history and we can do it again. Expanding the Supreme Court would be yet another way we can fight the war against senseless gun violence.

Persons: Shannon Watts, Christopher Langford, It’s, Bruen, Rahimi, Sandy Hook, Bill Clinton, Sens, Ed Markey, Elizabeth Warren, Tina Smith, Jamie Raskin, Jerrold Nadler, Hank Johnson, Biden’s Organizations: CNN, York, National Rifle Association, Shooting Sports Foundation, NRA, New York’s Department of Financial Services, Supreme, US, Representatives, Democrat, Maryland Locations: America, Lewiston , Maine, United States, Bruen, Massachusetts, Minnesota, New York, Georgia

☆ Elizabeth Warren says John Fetterman 'brings his own vibe' to the Senate: 'It's a good thing to shake this stuffy place up'
▼ + stars: | 2023-11-04 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Elizabeth Warren told The Washington Post, "There's no one like" John Fetterman in the upper chamber. AdvertisementAdvertisementHowever, Sen. Elizabeth Warren told The Washington Post that Fetterman's energy is just what the body needs. "John Fetterman brings his own vibe to the Senate," the Massachusetts Democrat said. He was the first Senate Democrat to do so. "He has his opportunity to defend those choices but he should not have the right to remain in [the Senate]," Fetterman told The Post regarding Menendez.

Persons: Elizabeth Warren, John Fetterman, Bob Menendez, —, Sen, he's, Pennsylvania Democrat —, midterms, hasn't, He's, Chuck Schumer's, Fetterman, Menendez, Nadine Menendez, Warren, Fetterman's, I'm, that's Organizations: Washington, Service, Pennsylvania Democrat, Keystone State, GOP, Washington Post, Senate, Massachusetts Democrat, Bob Menendez of New, Democrat, Democratic Locations: Capitol, Washington, Pennsylvania, Keystone, hoodies, Massachusetts, Bob Menendez of, Bob Menendez of New Jersey

☆ Chuck Schumer and Elizabeth Warren want FTC to probe blockbuster Exxon, Chevron mergers
▼ + stars: | 2023-11-01 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Senate Majority Leader Chuck Schumer, Sen. Elizabeth Warren and nearly two dozen other Democrats are demanding federal regulators probe the mega takeovers inked last month by ExxonMobil and Chevron. Exxon, already America’s biggest oil company, reached a deal in October to buy rival Pioneer Natural Resources for $60 billion. In the letter, the Senate Democrats argue past mergers that helped create Exxon and Chevron “enabled anticompetitive coordination” that hurt consumers by limiting supply of oil. “The oil-and-gas industry is still dominated by a handful of corporate giants, led by the top-two players Exxon and Chevron. The Senate Democrats note that Pioneer owns more drilling acreage than any other Permian producer and Exxon is also a top producer there.

Persons: Chuck Schumer, Sen, Elizabeth Warren, Hess, Schumer, Sens, Bernie Sanders, Amy Klobuchar, Exxon, White, Michael Kikukawa, ” Organizations: New, New York CNN, ExxonMobil, Chevron, Federal Trade Commission, Oil, Exxon, Natural Resources, FTC, Democrats, CNN Locations: New York, Chevron, Warren

WASHINGTON (AP) — Senate Majority Leader Chuck Schumer and 22 other Democratic senators are urging federal regulators to investigate multibillion-dollar acquisitions by oil giants ExxonMobil and Chevron, saying the deals could lead to higher prices at the gas pump. “These deals are likely to harm competition, risking increased consumer prices and reduced output throughout the United States,'' the senators wrote. Chevron, Exxon and other oil companies have announced huge profits from strong energy prices and demand since Russia’s invasion of Ukraine in February 2022. Exxon reported $9.1 billion in profits in the quarter that ended Sept. 30, while Chevron reported $6.5 billion in profits. Environmental groups hailed the call for an investigation of what some called “merger mania” within the oil industry that threatens competition.

Persons: Chuck Schumer, Exxon's, Chevron’s, Minnesota Sen, Amy Klobuchar, Elizabeth Warren of Massachusetts, Bernie Sanders, Chevron, Hess, Lukas Ross, ”, ” API's Bethany Williams, Schumer Organizations: WASHINGTON, ExxonMobil, Chevron, Federal Trade Commission, Natural Resources, Hess Corp, Exxon, FTC, Resources, Big Oil, American Petroleum Institute, Senate Commerce, Science, Transportation Locations: United States, Minnesota, Sens, Vermont, Ukraine, Texas, U.S, New York

☆ What to know about Day 2 of the Trump disqualification trial in Colorado
▼ + stars: | 2023-10-31 | by ( Marshall Cohen | ) edition.cnn.com time to read: +6 min

While the trial played out in Colorado, Trump filed a lawsuit to shut down a similar case in Michigan. The 14th Amendment says US officials who take an oath to uphold the Constitution are disqualified from office if they “engaged in insurrection” or aided the country’s enemies. Then, fighting would be understood as requiring violent action.”The relationship between Trump and far-right extremists is “unprecedented,” Simi said. 14th Amendment scholar to testify nextThe anti-Trump challengers said they’ll feature additional expert testimony from one of the preeminent scholars on the history of the 14th Amendment, Gerard Magliocca. “Despite President Trump’s tremendous popularity, there are people who want to deny Michigan voters the opportunity to express their choice by voting for him,” Trump’s lawyers wrote.

Persons: Donald Trump, Trump, ’, Peter Simi, ” Simi, Simi, Eric Olson, ’ Trump, Scott Gessler, Joe Biden, Biden, Kamala Harris, Hillary Clinton, Chuck Schumer, Nancy Pelosi, Sen, Bernie Sanders, Elizabeth Warren, Pete Buttigieg, Jamie Raskin, Gerard Magliocca, Marjorie Taylor Greene, isn’t, Troy Nehls, “, ” Trump, Jocelyn Benson, Benson doesn’t, Trump’s, ”, CNN’s Devan Cole, Avery Lotz Organizations: CNN, Trump, Chapman University, Colorado, Capitol, Simi, Transportation, GOP Rep, Trump isn’t, Texas Rep, Michigan, ” CNN, People Locations: Colorado, Michigan, Minnesota, Marjorie Taylor Greene of Georgia

☆ Education Department penalizes Missouri lender for error that made 800,000 student loan borrowers delinquent
▼ + stars: | 2023-10-30 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

The U.S. Department of Education will penalize student loan servicer Mohela, or the Missouri Higher Education Loan Authority, for its failure to send timely billing statements to 2.5 million borrowers. As a result of Mohela's errors, more than 800,000 borrowers were delinquent on their loans, the Education Department said in a statement Monday. Higher education expert Mark Kantrowitz said he believed this was one of the first instances of the government withholding payment from a student loan servicer. "It is only fair for the loan servicer to be penalized for mailing late statements." Federal student loan payments were on pause since March 2020, due to the Covid pandemic, but resumed this month.

Persons: servicer Mohela, Rich Cordray, Mark Kantrowitz, servicer, Kantrowitz, Mohela, servicers, Sen, Elizabeth Warren, Braxton Brewington, Brewington, Biden Organizations: U.S . Department of Education, Washington , D.C, U.S . Department, Education, Missouri Higher Education Loan Authority, Education Department, Finance, Federal, Mohela, CNBC Locations: Washington ,, Missouri, forbearance

[1/2] U.S. Attorney General Merrick Garland gives a brief statement at the Justice Department in Washington, U.S., August 11, 2023. That puts the Biden administration's second year of corporate enforcement on par with the second year of the Trump administration's - the fifth-lowest corporate prosecutions on record. The new safe harbor program also "directly undermines" the Biden Administration's anti-monopoly efforts, they said. The Justice Department and Federal Trade Commission have mounted an unprecedented number of legal challenges to mergers since Biden took office. A recently-departed DOJ official told Reuters in August that more big corporate settlements were coming.

Persons: General Merrick Garland, Bonnie Cash, Joe Biden, Merrick Garland, Lisa Monaco, Monaco, Elizabeth Warren, Biden, Chris Prentice, Rod Nickel Organizations: U.S, Justice Department, REUTERS, U.S . Justice Department, Public Citizen, Democratic, Department of Justice, Public, Biden, Trump, The Justice Department, Federal Trade Commission, DOJ, Reuters, Thomson Locations: Washington , U.S, Monaco

☆ Hedge fund billionaire Leon Cooperman, in rare public rebuke of a Republican candidate, says Trump ‘belongs in jail’
▼ + stars: | 2023-10-30 | by ( Lisa Emmanuel | Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Leon Cooperman, the hedge fund billionaire who has famously clashed with Sen. Elizabeth Warren over her proposed wealth tax, is cautioning voters against returning Donald Trump to the White House. “It would be terrible for the country if Donald Trump were reelected,” Cooperman told CNN in a phone interview late last week. “He’s a divisive human being who belongs in jail.”It’s rare for a Wall Street figure to make such critical comments about Trump, at least publicly. The Biden campaign did not respond to a request for comment. Given the ongoing risks, Cooperman argued the stock market is overvalued relative to corporate profits.

Persons: New York CNN — Leon Cooperman, Sen, Elizabeth Warren, Donald Trump, ” Cooperman, “, Warren, Joe Biden, CNN he’s, Trump, Biden, Cooperman, ”, Republican Chris Christie’s, Steven Cheung, he’s, ” Cheung Organizations: New, New York CNN, CNN, Trump, Biden, Republican, Omega Advisors, Bank Locations: New York, Washington

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