Rep. Mike Nearman was the first member of the House to be expelled in its 160-year history. The House voted 59-1 to remove him from the Legislature for disorderly behavior.
(Bloomberg) -- President Joe Biden ousted Fannie Mae and Freddie Mac’s regulator Wednesday, replacing the Trump administration appointee on an acting basis with a long-term Federal Housing Finance Agency senior official.The U.S. Supreme Court opened the door for Biden to remove FHFA Director Mark Calabria with a ruling that gave the president clear authority to fire the housing regulator. The White House replaced him with Sandra Thompson, who has been deputy director of the agency’s division of
Jessica Smith joins Myles Udland, Brian Sozzi, and Julie Hyman to break down the latest infrastructure bill negotiations in Washington as an agreement on the framework for a package might've been reached, and the house committee is approving legislation to curb market dominance of tech giants.
(Bloomberg) -- Supply Lines is a daily newsletter that tracks trade and supply chains disrupted by the pandemic. Sign up here.The U.S. has barred some solar products made in China’s Xinjiang region, marking one of the Biden administration’s biggest steps yet to counter alleged human rights abuses against the country’s ethnic Uyghur Muslim minority.Xinjiang -- where advocacy groups and a panel of United Nations experts say Uyghurs and other minorities have been subjected to mass arbitrary detenti
WASHINGTON (Reuters) -The Biden administration on Wednesday ordered a ban on U.S. imports of a key solar panel material from Chinese-based Hoshine Silicon Industry Co over forced labor allegations, two sources briefed on the matter said. The U.S. Commerce Department separately restricted exports to Hoshine, three other Chinese companies and the paramilitary Xinjiang Production and Construction Corps (XPCC), saying they were involved with the forced labor of Uyghurs and other Muslim minority groups in Xinjiang.
The drug maker Eli Lilly said the FDA designated its Alzheimer's drug candidate as a breakthrough therapy. It will file for approval later this year.
(Bloomberg) -- The U.S. Supreme Court dealt a punishing blow to Fannie Mae and Freddie Mac investors in their challenge to the government’s collection of more than $100 billion in profits from the government-sponsored enterprises.The justices threw out a core part of the investors’ lawsuit, rejecting claims that the Federal Housing Finance Agency exceeded its authority under federal law. Fannie and Freddie cratered, each plunging the most in intraday trading since 2013.Investors, the court said,
"Family fireworks about to be ignited for our viewing entertainment," the longtime Trump fixer wrote.
(Bloomberg) -- A plunge in Fannie Mae and Freddie Mac shares after a Supreme Court ruling marked one of the biggest setbacks yet in a disappointing decade for funds that wagered that these entities would one day exit federal control.Capital Group, Fairholme Capital Management, Paulson & Co., Blackstone Group Inc.’s credit unit, Discovery Capital Management and Pershing Square are among investors that have bet on a massive jump in value for the government-sponsored enterprises.Those wagers went s
Brian Cheung and Rick Newman join Yahoo Finance to discuss the changing optimistic tone over the labor market as the Fed now believes some of the lost workers may never come back due to retirement or childcare and the U.S economy's full recovery.
(Bloomberg) -- John McAfee, the creator of the eponymous antivirus software, was found dead Wednesday in prison outside Barcelona. He was 75.Over the past decade, McAfee gained notoriety for his ranting on social media, his involvement in a Central American criminal investigation and accusations from U.S. authorities that he was involved with pumping and dumping cryptocurrencies.McAfee was discovered dead in his prison cell hours after Spain’s National Court approved his extradition to the U.S.
(Bloomberg) -- China sued Australia over anti-dumping measures on some Chinese goods, further ratcheting up tensions between the two nations.China filed a lawsuit at the World Trade Organization over Australian anti-dumping and anti-subsidy measures on Chinese exports of railway wheels, wind towers and stainless steel sinks, the Ministry of Commerce said Thursday in Beijing. This would be the third recent WTO case between the two countries, after Australia sued over Chinese tariffs on wine and b
Students told the Idaho Statesman they want the task force to listen to their experiences and opinions.
(Bloomberg) -- Hedge funds have long stayed out of the political fray. Now, as lawmakers and regulators increasingly put the firms in their sights, the secretive industry is reversing course.The main hedge fund lobbying group -- which represents 135 funds including Citadel, Elliott Management Corp. and Renaissance Technologies -- is launching a multi-million dollar campaign Thursday to better explain to Washington what its members actually do.Dubbed “Investing in Opportunity,” the effort will fe
(Bloomberg) -- Warren Buffett resigned as a trustee at the Bill and Melinda Gates Foundation as the charity grapples with upheaval created by the divorce of its namesake founders, and the billionaire finds himself at the center of controversy over the ultra-wealthy and taxes.“My goals are 100% in sync with those of the foundation,” Buffett, 90, said Wednesday in a statement that also announced he had reached the halfway mark in giving all of his Berkshire Hathaway Inc. shares to charity.Buffett,
The Michigan officer who shot and killed a 19-year-old woman during a Juneteenth parade in Flint was later spotted breaking down in tears after the shooting. The woman who was fatally shot has been identified as Briana Sykes. Michigan State Police have said witnesses confirmed that Sykes drove up to an officer directing traffic Saturday and fired at him.
A Supreme Court decision released Wednesday allowed President Joe Biden to fire the current director of the Federal Housing Finance Agency.
McAfee, known as much for a life of drugs, women and guns as for the software that bears his name, was a popular cryptocurrency showman.
Sara Nelson, Association of Flight Attendants-CWA President joins the Yahoo Finance Live panel to discuss the latest with the airlines as they struggle to rebound post pandemic and deal with a rise in unruly passengers.
NEW DELHI (Reuters) -Indian Oil Minister Dharmendra Pradhan on Thursday again urged the Organization of the Petroleum Exporting Countries to phase out crude output cuts as high prices are stoking inflation. India, the world's third biggest oil importer and consumer, relies on overseas supplies for over 80% of its oil needs. Indian retail fuel prices have jumped to a record high due to higher oil prices and heavy local taxes.
SEATTLE — Earlier this year, as Officer Russell Ellis neared the end of his late shift at the University of Washington’s campus police department, one of his superiors offered him an energy drink. The sergeant was laughing, Ellis said, noting that the beverage was flavored like watermelon. “I thought all you guys like watermelon and Popeyes chicken,” the senior officer said, according to Ellis, who is Black. A second Black officer described a nearly identical encounter with the same sergeant two