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"Once this bill reaches the Senate, I will move to bring it to the floor as soon as possible," Majority Leader Chuck Schumer said on Wednesday. His counterpart, Senate Republican Leader Mitch McConnell, also signaled that he would work for fast passage, saying, "I'll be proud to support it without delay." The chamber's rules require 60 votes to advance most legislation, meaning at least nine Republican votes are needed to pass most bills, including the debt ceiling deal. On Wednesday he vowed to vote against the bill, but did not reiterate his threat to try to delay it. Chastising House Republican negotiators for agreeing to what he sees as a weak compromise with Democrats, Lee lamented, "With Republicans like these, who needs Democrats?"

Persons: Chuck Schumer, Jonathan Ernst WASHINGTON, Joe Biden, Biden, Kevin McCarthy, McCarthy, Mitch McConnell, Schumer, McConnell, John Thune, Rand Paul, Mike Lee, Lee, surrogates, Richard Cowan, David Morgan, Scott Malone, Lincoln Organizations: U.S, Democratic, Capitol, REUTERS, Senate, Republican, Republicans, Treasury Department, CBS News, Biden, Social, Wall, Thomson Locations: Washington , U.S, United States

☆ The stock market's strong 2023 performance comes down to just 5 massive companies
▼ + stars: | 2023-06-01 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Anyway, this lopsided distribution is exactly what's showing up in the stock market right now. The S&P 500 has climbed about 9.2% this year, but just five stocks are powering most of that gain in an even more extreme rendition of the Pareto distribution. In previous streaks of strong outperformance of five months or more by supersized companies, he pointed out that the S&P 500 has averaged returns of 6.7% in the subsequent six months. "[P]utting mega caps aside, we found that narrow market breadth in general does not represent a bad omen for S&P 500 performance despite the contrary narrative being pushed by many investors," Belski added. What's your outlook for the rest of the stock market this year, not including mega-caps?

Persons: Phil Rosen, ChatGPT, Tim Cook, Jerod Harris, Brian Belski, Belski, Elon Musk, Jonathan Ernst, Redfin, Larry Pitkowsky, Bitcoin, Max Adams, Nathan Rennolds Organizations: Apple, Getty, Nvidia, Microsoft, BMO, Reuters, Dell Technologies, Broadcom, Bank of America Locations: Beijing, China, United States, New York, London

☆ US House committee votes to advance debt ceiling bill
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: 1 min

[1/2] The U.S. Capitol's dome is reflected in a puddle, in the midst of an ongoing legislative effort to raise the United States' debt ceiling and avoid a catastrophic default, in Washington, U.S. May 30, 2023. REUTERS/Jonathan ErnstWASHINGTON, May 30 (Reuters) - A bill to suspend the $31.4 trillion U.S. debt ceiling and avert a disastrous default advanced on Tuesday when a key House of Representatives committee voted to send it to the full chamber for a Wednesday vote. The Republican-controlled House Rules Committee voted 7-6 to advance the bill to the floor for a vote on Wednesday. Reporting by Moira Warburton and Kanishka Singh; Editing by Scott MaloneOur Standards: The Thomson Reuters Trust Principles.

Persons: Jonathan Ernst WASHINGTON, Moira Warburton, Kanishka Singh, Scott Malone Organizations: REUTERS, Republican, Thomson Locations: U.S, United States, Washington , U.S

☆ Morning Bid: Debt vote in sight, but further Fed squeeze
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +4 min

[1/2] Visitors walk on the plaza at the U.S. Capitol in the midst of ongoing negotiations seeking a deal to raise the United States' debt ceiling and avoid a catastrophic default, in Washington, U.S. May 24, 2023. Relief over the likely lifting of the U.S. debt ceiling this week is being reined in by the uncomfortable prospect of even higher Federal Reserve interest rates - and the further evaporation of any 2023 easing hopes. Futures markets now see a 60% chance the Fed will lift rates by another quarter point to the 5.25-5.50% range at its June 14 meeting. Though largely illiquid out of U.S. hours, one-month Treasury bill yields were marked about 10 basis points higher than Friday's close. U.S. stock futures were about 0.5% higher, in part due to relief over the debt deal - even though, unlike the latest big debt ceiling standoff in 2011, there has been little noticeable disturbance in stock indices over the past month.

[1/2] U.S. House Speaker Kevin McCarthy (R-CA) speaks with reporters at the U.S. Capitol in Washington, U.S. May 24, 2023. "The Committee on Rules will meet Tuesday, May 30, 2023 at 3:00 PM ET (7:00 PM GMT)," the panel said in a statement on Monday. The deal, if approved, will prevent the U.S. government from defaulting on its debt and comes after weeks of heated negotiations between Biden and House Republicans. The 99-page bill would authorize more than $886 billion for security spending in fiscal year 2024 and over $703 billion in non-security spending for the same year, not including some adjustments. It would also authorize a 1% increase for security spending in fiscal year 2025.

☆ Factbox: Biden, McCarthy debt ceiling deal - what's in, what's out
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +3 min

PERMITTING CHANGESA compromise is possible on reforming the process for energy permits and White House officials say it is being actively discussed. The White House has called on Congress to pass permitting legislation that would help speed up clean energy and fossil fuel projects. The White House has for the most part ruled out Republican spending cuts. But Republicans are insistent that any debt ceiling deal will have to including spending cuts, and negotiations continue on this front. The White House has countered with a proposal for capping spending for two years.

☆ Debt ceiling worries deepen as early June U.S. default reinforced
▼ + stars: | 2023-05-12 | by ( Richard Cowan | ) www.reuters.com time to read: +6 min

The U.S. Congressional Budget Office report, issued Friday morning, confirms Treasury Secretary Janet Yellen's earlier warnings that a default could come as early as June 1. Congress' budget scorekeeper also noted that the federal government's debt payments "will remain uncertain throughout May, even if the Treasury ultimately runs out of funds in early June." She also said she remained optimistic that the debt limit problem would be resolved. A senior Treasury official told Reuters she would do that with board members of the Bank Policy Institute lobby group. Democratic Representative Abigail Spanberger said members of the U.S. Congress ought to have their paychecks withheld until the debt limit problem is resolved.

[1/2] Oath Keepers founder Stewart Rhodes is seen on video during the hearing of the U.S. House Select Committee to Investigate the January 6 Attack on the United States Capitol, on Capitol Hill in Washington, U.S., June 9, 2022. The Justice Department is also seeking a sentence of 21 years for another Oath Keepers leader, Kelly Meggs, who was also found guilty in November of seditious conspiracy by a Washington, D.C., jury. The same Washington jury that convicted Rhodes and Meggs cleared three other co-defendants, Kenneth Harrelson, Jessica Watkins and Thomas Caldwell, of seditious conspiracy. The charges of seditious conspiracy and obstruction of an official proceeding each carry a sentence of up to 20 years in prison. Four other members of the Oath Keepers were convicted in January of seditious conspiracy for their roles in the attack.

☆ Garcia, Poulter, Westwood ineligible for Ryder Cup after resigning Tour membership
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +2 min

The trio of Poulter, Garcia and Westwood have played in 28 Ryder Cups between them. The DP World Tour added it would provide further updates on other sanctioned members on Thursday. This year's Ryder Cup takes place at the Marco Simone Golf and Country Club near Rome from Sept. 29 to Oct. 1. Garcia is the Ryder Cup's record points scorer with 28.5, while Westwood has played a record 11 matches, being part of seven winning teams. Poulter, another Ryder Cup stalwart, has played a key role in some of Europe's biggest successes in the biennial contest against the United States.

☆ Supreme Court's Alito says abortion leak meant to intimidate court, Wall Street Journal reports
▼ + stars: | 2023-04-28 | by ( John Kruzel | ) www.reuters.com time to read: +2 min

REUTERS/Jonathan ErnstWASHINGTON, April 28 (Reuters) - U.S. Supreme Court Justice Samuel Alito believes the leak last May of a draft opinion that ended the nationwide right to abortion was meant to "intimidate" the court into changing its decision, the conservative justice told the Wall Street Journal. "It was a part of an effort to prevent the Dobbs draft ... from becoming the decision of the court," Alito said in an interview published by the newspaper on Friday, referring to the decision in Dobbs v. Jackson Women's Health Organization. Alito, who wrote the Dobbs decision, said that he thought he knew who leaked the decision to the Politico news outlet, but did not provide evidence to support that claim. A narrow majority of Americans - 56% - view the U.S. Supreme Court unfavorably, according to a Reuters/Ipsos poll this month. Partisanship colors that view, with 72% of Democratic respondents to the poll viewing the court unfavorably and 65% viewing of Republicans seeing it favorably.

☆ Harry Belafonte, who mixed music, acting, and activism, dies at 96
▼ + stars: | 2023-04-25 | by ( Bill Trott | ) www.reuters.com time to read: +7 min

Belafonte was born in New York City's borough of Manhattan but spent his early childhood in his family's native Jamaica. A few weeks before the launch, Belafonte told Rolling Stone magazine that singing was a way for him to express injustices in the world. "We were instructed to never capitulate, to never yield, to always resist oppression," Belafonte told Yes! "The Navy came as a place of relief for me," Belafonte told Yes! Belafonte was the first Black performer to win a major Emmy in 1960 with his appearance on a television variety special.

☆ Nikki Haley’s Corporate-Board Slot Delivers Stock Windfall Amid 2024 GOP Bid
▼ + stars: | 2023-04-24 | by ( John Mccormick | ) www.wsj.com time to read: 1 min

Photo: Jonathan Ernst/ReutersNikki Haley received stock options worth close to $300,000 roughly six weeks after jumping into the 2024 presidential race as part of a real-estate company merger that could deliver even more lucrative payouts in the years ahead, Securities and Exchange Commission filings show. The 26,703 shares of United Homes Group Inc. stock awarded on March 30 to Ms. Haley—a former South Carolina governor who hasn’t been employed full-time since resigning as United Nations ambassador from the Trump administration in 2018—was part of her compensation for serving on the company’s board of directors.

Low and stable inflation is good for markets and the economy, so central banks had to show their seriousness on inflation, Tannenbaum added. Central banks softened rate rises with communication that was mindful of instability risks, showing reassuring "humility", said Perkins. "The bank resolution framework created after the great financial crisis," said Francesco Papadia, senior fellow at Bruegel and former ECB director general for market operations, "is proving difficult to implement." Reuters Graphics4/ UNITED WE STANDAfter CS's rescue, the Fed and other big central banks supported market liquidity with dollar swap lines. Amundi's Pradhan said the "case by case" central bank responses to individual lenders failing in March exposed the lack of a coordinated bank resolution system.

☆ Fact Check-Altered image appearing to show Hillary Clinton in Guantanamo Bay
▼ + stars: | 2023-04-21 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

An image appearing to show former Democratic presidential candidate Hillary Clinton apprehended by armed forces is digitally altered. The original photograph shows soldiers escorting a detainee in Guantanamo Bay, Cuba in January 2002. Some social media users say the altered image appears to show Clinton apprehended by two police officers, walking with their backs to the photographer. It shows police escorting a detainee to their cell at the naval base in Guantanamo Bay, Cuba (here). The original photograph was captured in January 2002 and shows soldiers escorting a detainee to their cell in Guantanamo Bay Naval Station, Cuba.

☆ Musk says Tesla likely to launch full self-drive technology 'this year'
▼ + stars: | 2023-04-20 | by ( Hyunjoo Jin | ) www.reuters.com time to read: +2 min

[1/2] Tesla CEO Elon Musk and his security detail depart the company’s local office in Washington, U.S. January 27, 2023. REUTERS/Jonathan ErnstSAN FRANCISCO, April 19 (Reuters) - Elon Musk said on Wednesday that electric vehicle (EV) giant Tesla (TSLA.O) likely will launch full self-drive technology this year and generate significant profits that offset some of the margin pressure it's facing due to aggressive price cuts. "I hesitate to say this but I think we'll do it this year," said Tesla CEO Musk, speaking on a conference call. Tesla sells FSD software as an option for as much as $15,000. Tesla reported a lower-than-expected quarterly margin on Wednesday but Musk said he would prioritize sales growth over profits in a weak economy.

☆ House Republicans chart new strategy to pressure Biden, Democrats
▼ + stars: | 2023-04-16 | by ( David Morgan | ) www.reuters.com time to read: +6 min

Any proposal Republicans introduce would need to be negotiated with Biden's Democrats, who control the Senate, before it could become law. The White House, which is leading the Democrats' approach to the debt ceiling, has dismissed the Republican proposals as unrealistic. That would set the stage for another debt ceiling debate in the closing months of the 2024 presidential campaign. Biden and McCarthy met at the White House in February to discuss the standoff, but they have not held further talks as the administration has called on House Republicans to release a budget proposal. Some Republicans also favor the clean debt ceiling increase that Biden has demanded.

☆ U.S. House Republicans chart new strategy to pressure Biden, Democrats
▼ + stars: | 2023-04-16 | by ( David Morgan | ) www.reuters.com time to read: +6 min

☆ Carlyle in talks to take stake in Manchester United - Sky News
▼ + stars: | 2023-04-15 | by ( ) www.reuters.com time to read: +1 min

[1/2] A general view of the lobby outside the Carlyle Group offices in Washington, May 3, 2012. REUTERS/Jonathan Ernst/File PhotoApril 15 (Reuters) - U.S. buyout firm Carlyle Group Inc (CG.O) is in talks about a "major" investment in Manchester United soccer club as the auction of the Premier League team enters its final stages, Sky News reported on Saturday. Carlyle and Manchester United did not immediately respond to a Reuters request for comment. Sports industry news site Sportico reported earlier this month that Manchester United would accept a third round of bids from prospective buyers at the end of April. The Glazers bought Manchester United in 2005 for 790 million pounds in a highly leveraged deal that has been criticised for loading debt on to the club.

☆ Florida to allow death penalty with 8-4 jury vote instead of unanimously
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +3 min

If the Republican governor signs the bill into law, Florida prosecutors trying capital felony cases would need to convince only two-thirds of the 12-member jury that someone who is convicted deserves the death penalty, rather than a unanimous decision by a jury. It would have no effect on the requirement for a jury's unanimous vote to convict a defendant. Three jurors voted to spare Cruz, and by default his sentence was life in prison without the possibility of parole, according to the Death Penalty Information Center. If the bill becomes law, Florida would join Alabama as the only states where a unanimous jury decision is not required, the center noted. In 2017, Florida passed a law that required death penalties to be imposed only after a unanimous recommendation by a jury.

☆ 'Unfinished business': Biden visits Northern Ireland as political tensions persist
▼ + stars: | 2023-04-11 | by ( Elliot Smith | ) www.cnbc.com time to read: +7 min

He will give a speech in Northern Ireland on Wednesday, before traveling south of the border to the Republic of Ireland, where he will remain until Friday. Northern Ireland is part of the U.K. while the Republic of Ireland is a separate nation state that remains part of the EU. "Whilst it's positive in many ways — particularly on movement of food and medicines between Great Britain and Northern Ireland, it really removes a lot of the frictions — it doesn't deal with all the problems of the Northern Ireland protocol, so I'm afraid it's unfinished business," Villiers told CNBC's Tania Bryer. Clinton became the first sitting U.S. President to visit Northern Ireland and the first to appoint a U.S. special regional envoy. Though Biden is expected to use the trip to promote a return to functioning government in Stormont, his previous support for the Northern Ireland Protocol has drawn criticism from DUP politicians.

☆ McIlroy withdraws from RBC Heritage after missing Masters cut
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +1 min

[1/2] Golf - The Masters - Augusta National Golf Club - Augusta, Georgia, U.S. - April 6, 2023 Northern Ireland's Rory McIlroy hits his tee shot on the 4th hole during the first round REUTERS/Jonathan ErnstApril 10 (Reuters) - Rory McIlroy has withdrawn from this week's RBC Heritage at Harbour Town, the PGA Tour said on Monday, after the world number three failed to make the cut at the Masters last week. McIlroy bid for a career Grand Slam ended when he shot a disappointing second-round 77 after being a favorite to win his first Green Jacket at Augusta National heading into the major. McIlroy will not be replaced by an alternate, with the field reduced to 143 players for the tournament on Hilton Head Island, where Jordan Spieth is the defending champion. The 33-year-old McIlroy, who captured the last of his four majors in 2014, had been hoping to win the Masters so that he could join Gene Sarazen, Ben Hogan, Jack Nicklaus, Gary Player and Tiger Woods as the only players to achieve the career Grand Slam. Reporting by Rory Carroll in Los Angeles, editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.

☆ LIV Golf contingent leave mark on Masters leaderboard
▼ + stars: | 2023-04-10 | by ( Frank Pingue | ) www.reuters.com time to read: +3 min

Patrick Reed, who won the Masters in 2018, was a further shot back with a share of fourth, while Joaquin Niemann was the next best from LIV Golf as he ended up tied for 16th. This year's Masters was the first since LIV Golf launched last June, and 18 players from the lucrative circuit, whose 54-hole tournaments with no cuts have raised talk about their competitiveness, teed it up in the year's first major. Koepka said nobody should be surprised to see that he and his LIV Golf peers posed a threat at Augusta National, which is one of the game's biggest stages. Although it proved too little too late for Mickelson, the six-time major said he and the others from LIV Golf were not out to prove a point to other players in the field. Augusta National cleared the way last December for eligible players from LIV Golf to compete in the year's first major.

☆ Koepka extends Masters lead before round three suspended due to rain
▼ + stars: | 2023-04-08 | by ( Frank Pingue | ) www.reuters.com time to read: +5 min

[1/8] Golf - The Masters - Augusta National Golf Club - Augusta, Georgia, U.S. - April 8, 2023 Brooks Koepka of the U.S. after playing out from a bunker on the 7th hole during the third round REUTERS/Jonathan ErnstSummary Play to resume Sunday at 8:30 a.m. It marked the second consecutive day that rain interrupted play at the year's first major as 39 golfers returned early on Saturday to complete their second round. Play will resume Sunday at 8:30 a.m ET followed by the final round starting at 12:30 p.m. "I'm pretty sure I'll be up for it considering it is the Masters. Reporting by Frank Pingue in Augusta, Georgia; Editing by Ken Ferris, Pritha Sarkar and Toby DavisOur Standards: The Thomson Reuters Trust Principles.

☆ Oklahoma eyes first US religious charter school after Supreme Court rulings
▼ + stars: | 2023-04-06 | by ( John Kruzel | ) www.reuters.com time to read: +6 min

REUTERS/Jonathan ErnstApril 6 (Reuters) - An Oklahoma school board is set to consider next week whether to approve the first taxpayer-funded religious charter school in the United States in a move that follows recent U.S. Supreme Court rulings expanding religious rights. The board is a state entity that considers applications for charter schools - publicly funded but independently run - that operate virtually in Oklahoma. They estimated that it would cost Oklahoma taxpayers up to $25.7 million over its first five years in operation as a charter school. In 2020, the Supreme Court endorsed Montana tax credits that helped pay for students to attend religious schools. Secular opponents have said religious charter schools would violate legal limits on government involvement in religion.

REUTERS/Jonathan ErnstApril 5 (Reuters) - Johnny Depp's first live-action film since the widely watched defamation trial against ex-wife Amber Heard was selected as the opening movie for next month's Cannes Film Festival in France, organizers said on Wednesday. The French-language film "Jeanne du Barry" stars director Maïwenn Le Besco, known as Maiwenn, as Jeanne Becu, a woman who rose from poverty to the circles of King Louis XV. Depp plays the king in the movie, which will have its world premiere at Cannes on May 16. The “Pirates of the Caribbean” actor has made few film or TV appearances since his trial concluded in June 2022. Depp also voiced an animated puffin in last month's "Johnny Puff: Secret Mission."

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