ibt-mailDec 3, 2024, 9:43 AM

Biden's Pardon Of Son Hunter Draws Bipartisan Boos

Newsletter Dec 3, 2024 Quick Six Joe Biden's pardon of his son Hunter draws bipartisan boos President Joe Biden's pardon of his son Hunter has angered both sides of the political divide, with

Newsletter Dec 3, 2024

Quick Six

Joe Biden's pardon of his son Hunter draws bipartisan boos
President Joe Biden's pardon of his son Hunter has angered both sides of the political divide, with Republicans crying hypocrisy and Democrats warning it undermines efforts to rein in President-elect Donald Trump. Biden had vowed not to pardon his son but gave a "full and unconditional" reprieve absolving Hunter of any wrong-doing over the last decade, charged or otherwise, ahead of his sentencing over gun and tax convictions. Biden argued that his son had been targeted in a politicized prosecution launched under the Trump administration and that "there's no reason to believe it will stop here." But the backlash from his own side was swift.
TEXAS DEMOCRAT DEFENDS BIDEN WITH SLAM ON TRUMP

US announces export restrictions on China superconductors
The US announced new export restrictions Monday taking aim at China's ability to make advanced semiconductors -- used in weapon systems and artificial intelligence -- as competition deepens between the world's two biggest economies. The moves step up existing US efforts to tighten curbs on exports of state-of-the-art AI chips to China. The announcement comes weeks before President-elect Donald Trump returns to the White House, where he is expected to further his hawkish stance on China.
SEE CHINA'S REACTION TO US QUEST TO LIMIT ITS TECH

Federal Reserve officials say US on track with inflation fight
The US appears on track to hit its long-term target of 2% inflation despite a recent uptick, two Fed officials said Monday with one indicating support for another rate cut this month. The Fed hiked interest rates to a two-decade high and held them there in order to tame a surge in inflation, before starting to dial back rates in recent months. But as close as inflation now is to 2%, it has so far failed to hit that target, held high by several factors including the cost of housing, and actually ticked up slightly in October.
SEE THE OVERALL HEALTH REPORT ON THE US ECONOMY

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Markets

DJIA	44,782.00	-0.29%
S&P 500	6,047.15	0.24%
Nasdaq Composite	19,403.95	0.97%
Japan: Nikkei 225	39,180.06	1.73%
UK: FTSE 100	8,312.89	0.31%
Crude Oil Futures	67.96	-0.21%
Gold Futures	2,659.60	0.04%
Yen	149.94	0.23%
Euro	1.05	-0.10%
* As of market close

Judge upholds Musk's pay package rejection

A US judge on Monday upheld her decision to reject Elon Musk's $55.8 billion compensation package at Tesla, denying an attempt to restore the deal through a shareholder vote. In a court filing, the judge ruled that Tesla's attempt to ratify Musk's compensation package through a shareholder vote could not override her decision striking down the package as excessive and unfair to shareholders. The court also awarded $345 million in attorney fees, significantly less than the $5.6 billion sought by the lawyers of plaintiff/shareholder Richard Tornetta.

SEE MUSK'S REACTION TO THE RULING ON MASSIVE PAY DEAL

Suspect freed from custody in Swiss suicide

A man held since September over the death of a US woman inside a controversial suicide capsule in Switzerland was released from custody Monday, though he remains under suspicion. A 64-year-old took her own life in September inside the space-age looking Sarco capsule at a Swiss woodland retreat. All but the association's co-president Florian Willett was still being held on the grounds of incitement and aiding and abetting suicide, with strong suspicion of intentional homicide.

SEE IF ASSISTED SUICIDE WILL BE PROSECUTED BY SWISS

Costco cutting book sections from US stores

Book lovers will soon have to get their fix somewhere else as Costco Wholesale will remove its year-round book section from around 500 stores across the United States starting in January. Costco claims it is halting year-round book sales for one reason -- because storing the books is too labor-intensive for employees, who must organize them by hand -- but the change could also reflect the online book-buying trend.

OVER 7 IN 10 AMERICANS PURCHASE BOOKS FROM AMAZON

Extra point

Name the first non-book items sold on Amazon. When did it change?

Monday's answer: The Spanish naval galleon San José held up to 200 tons of gold, silver, and gems when it sank in 1708 during a battle with British warships. It was discovered off the Colombian coast in 2015. Modern-day estimates of the ship's treasure range up to $20 billion.

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