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Biden signals openness to ending filibuster for voting rights legislation
1 hour ago - Politics & PolicyDOJ charges 5 with money laundering in alleged Venezuela bribery scheme
3 hours ago - Politics & PolicyBiden seeks to reboot U.S. sanctions policy
3 hours ago - WorldRepublicans who put it all on the line
3 hours ago - Politics & PolicyThe defy-default
3 hours ago - Politics & PolicySteve Wynn renews his political bets
3 hours ago - Politics & PolicyToday’s top stories
Republicans who put it all on the line
A small contingent of House Republicans risked their political futures on Thursday, they say, in the name of constitutional responsibility.
Why it matters: The nine Republicans who voted to hold former Trump aide Steve Bannon in contempt of Congress are now in peril of becoming political pariahs. They've opened themselves up to potential primary challengers and public attacks from their party's kingmaker — former President Trump.
Biden seeks to reboot U.S. sanctions policy
The Biden administration is rethinking the U.S. approach to sanctions after four years of Donald Trump imposing and escalating them.
The big picture: Sanctions are among the most powerful tools the U.S. has to influence its adversaries’ behavior without using force. But they frequently fail to bring down regimes or moderate their behavior, and they can increase the suffering of civilians and resentment of the U.S.
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Merkel's farewell spoiled by Poland crisis at EU summit
Angela Merkel took up her vaunted mantle as Europe's crisis manager for what could be the last time tonight, as she urged the EU to find compromise in its showdown with Poland.
Why it matters: The European Commission has threatened to withhold over $40 billion in pandemic recovery funds after Poland's constitutional tribunal — stacked with loyalists from the ruling right-wing populist party — rejected the principle that EU law has primacy over national law.
The defy-default
Political figures are exploiting the slowness of the U.S. justice system, Donald Trump's attacks on its integrity and divisions in society to defy the law.
Why it matters: As polarization intensifies, it's placing tribalism above a shared national code of conduct. Increasingly, accountability rests not on the ballot box but with the nine-member, lifetime-appointed and currently conservative-majority Supreme Court.
Report: Climate change is an "emerging threat" to U.S. economic stability
A top U.S. financial coordinating organization took several steps on Thursday to manage the growing risks that climate change poses to the U.S. financial system.
Why it matters: While the Biden administration has been taking an all-of-government approach to climate change, like factoring climate risk into planning at the Treasury Department, today's moves by the politically independent Financial Stability Oversight Council (FSOC) carry significant weight.
"I assume full responsibility," Duterte says of drug war
Philippines President Rodrigo Duterte said Thursday that he assumes full responsibility for a violent war on drugs that has killed thousands of people, Reuters reported.
Why it matters: Last month, the International Criminal Court (ICC) formally authorized an investigation into alleged crimes against humanity during Duterte's war on drugs.
CDC director approves boosters for Moderna and J&J and mix-and-match
The Centers for Disease Control and Prevention director Rochelle Walensky expanded the eligibility for COVID-19 booster shots on Thursday night, hours after the CDC's independent advisory panel recommended booster doses of the Moderna and Johnson & Johnson vaccines and allowed people to mix-and-match doses.
The big picture: The CDC's expansion aligns with the Food and Drug Administration authorization Wednesday night which said people could switch to whichever vaccine they wanted for their booster shot.
Israel to approve new construction in West Bank settlements
Israel will approve the construction of 4,400 new homes in the West Bank next week: 3,10o in the Jewish settlements and 1,300 in Palestinian villages.
Why it matters: This will be the first time Israel has approved new settlement building since President Biden assumed office, and it's the first time since 2007 that it approves a significant number of new homes for Palestinians in "Area C" of the West Bank, which is controlled by Israel.
House votes to hold Bannon in contempt of Congress
The House of Representatives voted 229-202 on Thursday to hold former Trump strategist Steve Bannon in contempt of Congress for refusing to comply with a subpoena from the Jan. 6 select committee.
Why it matters: The Justice Department will now consider bringing criminal charges against Bannon, marking a significant escalation in the Jan. 6 committee's efforts to enforce subpoenas against Trump allies who refuse to cooperate.
Biden: Jan. 6 Capitol riot "was about white supremacy"
President Biden said Thursday that white supremacy motivated rioters who carried out the Jan. 6 insurrection at the U.S. Capitol.
Driving the news: "The violent, deadly insurrection on the Capitol nine months ago, it was about white supremacy, in my opinion," Biden said at an event commemorating the 10-year anniversary of the Martin Luther King Jr. memorial in Washington.
Scoop: “How about zero?” Manchin, Sanders get heated behind closed doors
Sens. Joe Manchin (D-W.Va.) and Bernie Sanders (I-Vt.) squabbled behind closed doors Wednesday, with Manchin using a raised-fist goose egg to tell his colleague he can live without any of President Biden's social spending plan, Axios has learned.
Why it matters: The disagreement, recounted to Axios by two senators in the room, underscores how far apart two key members remain as the Democratic Party tries to meet its deadline for reaching an agreement on a budget reconciliation framework by Friday.
Fed revamps rules for officials, restricts trades after controversies
The Federal Reserve on Thursday announced significant changes to its rules regulating officials' financial activities following controversy last month over some officials' past trading practices.
Why it matters: The rule revamp is a coda to the biggest scandal to hit the Fed in recent memory.
Texas urges Supreme Court to leave abortion ban in place
Texas on Thursday asked the Supreme Court to keep in place a law that bans abortions after an embryo's cardiac activity is detected, which can be as soon as six weeks and before many people know they are pregnant.
Driving the news: Texas Attorney General Ken Paxton is asking the high court to ignore the Justice Department's emergency request that they temporarily block the law while federal courts consider its constitutionality since it "lacks standing because it has not been injured by SB 8."
Meme stonks lose their appeal to the world of crypto
That sucking sound you hear is the outflow of meme-chasing dollars from the stock market.
Why it matters: The caravan has moved on. The dream of getting rich quick still lives, but today it's more often found in the world of crypto, NFTs or even sports betting than it is in the stock market.
Latinas who brew seek to shake craft beer industry
A server at Mujeres Brew House in San Diego rings up a customer in front of a selection of craft beers. Photo: Russell Contreras/Axios
Independent craft brewers are popping up in cities across the country, and a small but growing number of them are Latina-owned or run by a Latina head brewer.
The big picture: Latinas are opening up independent craft breweries from California to Colorado as Latina-owned small businesses continue to be one of the fastest-growing segments of the economy despite a lack of venture capital.
China pulls Celtics games after Enes Kanter criticizes Xi Jinping
Celtics center Enes Kanter. Photo: Jim Michaud/MediaNews Group/Boston Herald via Getty Images
China will no longer stream Boston Celtics games after center Enes Kanter called Chinese President Xi Jinping a "brutal dictator" in a social media post over the Chinese government's repressive policies in Tibet, according to the New York Times.
Why it matters: Kanter's criticism of Beijing has sparked another round of trouble for the NBA in China, one of its largest and most restrictive markets.
Trump's new venture could be peak SPAC
Illustration: Sarah Grillo/Axios
Former President Trump last night announced plans to launch a digital media network called "Truth Social," and said it would go public via a SPAC called Digital World Acquisition (Nasdaq: DWAC).
What to know: So far, this is a joke. The press release didn't contain even basic information, such as the new company's CEO. In fact, the only execs mentioned are Trump (as chairman) and veteran TV producer Scott St. John as head of a subscription streaming service.
Tesla is outrunning the supply chain crunch
Tesla, citing a "structural shift" in demand for electric vehicles, reported its highest-ever quarterly profit of $1.6 billion and $13.8 billion in revenues despite supply chain problems.
The big picture: The company's third-quarter report says the chip shortage, port congestion and other woes have affected its factories but argues that "flexibility" and "ingenuity" are a counterweight.
Inequality Index signals October jobs growth for lower-income Americans
Polling for the Morning Consult/Axios Inequality Index suggests that as the Delta variant ebbed over the last month, job security improved for lower-income Americans.
The big picture: As a result of the improving environment, the Inequality Index this month declined to its lowest point since April — reversing a significant spike in September.
Pfizer booster has 95.6% efficacy against COVID, large study shows
Photo: Scott Olson/Getty Images
A booster shot of the Pfizer-BioNTech vaccine is 95.6% effective against the coronavirus, compared with those who only had the first two initial doses, according to a large study released Thursday.
Why it matters: The study, which had more than 10,000 participants aged 16 and older, is the first controlled, randomized trial looking at boosters and their effectiveness, the companies said.
COVID cases and deaths keep falling
America’s coronavirus outbreak is rapidly improving as the Delta wave recedes, and vaccines for kids — which could become available within weeks — will help the situation improve even further.
By the numbers: Nationwide, the U.S. is now averaging about 79,000 new cases per day — a 22% drop over the past two weeks.
How the pandemic caused a corporate rebound
Illustration: Sarah Grillo/Axios
WeWork becomes a public company today worth more than $9 billion — a vindication of the expensive turnaround strategy employed after it spectacularly imploded in 2019. Like many companies that find themselves at death's door, that which didn't kill them made them stronger.
Why it matters: Hertz, Alamo Drafthouse, Airbnb, and Toast are among the currently-thriving companies that were shaken to the core in the early days of the pandemic — providing further evidence for the theory that, in the words of former Fast Company editor Bill Taylor, "companies can't be great unless they've almost failed."
Roku tells customers it is unable to strike a deal with YouTube
Photo: Igor Golovniov/SOPA Images/LightRocket via Getty Images
Roku on Thursday told customers via a post on its corporate blog that it has still not been able to strike a distribution agreement with YouTube TV, which has been removed from Roku's channel store for five months.
Why it matters: It's the first time Roku has directly acknowledged the issue to its customers.
Facebook is a news media magnet
New data finds that Facebook has been mentioned in more online stories in the U.S. in the past year than all of its major tech competitors combined.
Why it matters: Press scrutiny of Facebook has become so intense and negative that the tech giant is reportedly planning to rename itself as soon as next week to signal that it's more than just a social media company.
Amazon is now a bigger shipper in the U.S. than FedEx
Amazon is not primarily known as a logistics company, but in 2020 the company shipped more parcels than FedEx.
Why it matters: Logistics is a $1.5 trillion business — and it has long been controlled by a handful of key players, like FedEx, UPS and the U.S. Postal Service. Now Amazon is poised to conquer it.
Trump says he plans to launch new social media network in 2022
Photo: Chris Delmas/AFP via Getty Images
Former President Trump on Wednesday announced plans to launch a social media network called "Truth Social," and said that it would go public via a SPAC.
Why it matters: Most ex-presidents are focused on their legacies, by creating presidential libraries or engaging in philanthropic endeavors. Trump, however, remains consumed by social media.
Carmakers rush to build batteries for electric vehicles
Illustration: Annelise Capossela/Axios
Almost every week, another major automaker announces a billion-dollar-plus investment in battery manufacturing, and with it, thousands of new American jobs.
Why it matters: Eyeing President Biden's climate agenda, carmakers are racing to create a domestic battery supply chain to support their aggressive rollout of electric vehicles by the end of the decade.
Aduhelm is bombing
The average list price of Aduhelm is roughly $4,300 per monthly infusion. Photo: Biogen
Biogen sold $300,000 worth of Aduhelm in the third quarter, well below Wall Street's expectations, which prompted analysts at Raymond James to call the Alzheimer's drug "potentially the worst drug launch of all time" amid Biogen's "persistent hyperbole about the drug's purported benefits."
The big picture: Aduhelm's controversial approval and high price tag have shaped the market reaction. Health insurers are hesitant to cover Aduhelm until Medicare makes a decision next year, and doctors aren't embracing the drug either.
India crosses 1 billion COVID vaccinations milestone
A health worker inoculates a COVID-19 vaccine dose to a man wearing a face mask of Prime Minister Narendra Modi in Beawar, India, in September. Photo: Sumit Saraswat/Pacific Press/LightRocket via Getty Images
India's Prime Minister Narendra Modi announced Thursday that the country's health workers have now administered more than 1 billion COVID-19 vaccines doses.
Of note: While this is a significant milestone for the country of 1.4 billion, which has been devastated by the coronavirus, only about 30% of the eligible population has been fully vaccinated against the virus, per AP. Roughly 75% have received at least one dose.
Beauty giant Coty Cosmetics looking to sell its own branded products
Coty Cosmetics CEO Sue Nabi. Photo: Axios on HBO
Coty Cosmetics CEO Sue Nabi tells Axios the beauty giant will “probably” introduce Coty-branded products one day.
Why it matters: Coty produces some of the world’s most popular fragrances, skin care products and color cosmetics on behalf of other well-known brands, but has shied away from producing its own branded products.
NFL to end race-based testing in concussion settlements
Photo: Brett Carlsen/Getty Images
The National Football League on Wednesday reached an agreement with former players to end the controversial practice of race-based adjustments in dementia testing, AP reports.
Why it matters: The deal, which must still be approved by a judge, comes amid a broader discussion of racial inequities in health care.
Parents in Michigan, Virginia sue AG over action on school board threats
U.S. Attorney General Merrick Garland during an October news conference in Mexico City. Photo: Hector Vivas/Getty Images
A group of parents in Michigan and Virginia accused Attorney General Merrick Garland in a federal lawsuit Tuesday of trying to "criminalize" free speech by directing law enforcement to review threats against school staff.
Why it matters: The lawsuit, filed by the conservative American Freedom Law Center on behalf of the parents in two school districts, accuses Garland of seeking to suppress free speech in his memorandum directing federal authorities to counter the threats spike.
Reading the fundraising tea leaves in Virginia
Terry McAuliffe (left) and Glenn Youngkin speak during a debate last month. Photo: Win McNamee/Getty Images
Democrat Terry McAuliffe may be trouncing Glenn Youngkin in fundraising, but when it comes to dollars from donors in Virginia — the state where they're battling to become governor — the Republican has the edge.
Why it matters: With tight polls between the two gubernatorial candidates less than two weeks before Election Day, the parties are also looking to fundraising as a predictor of success.