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Good afternoon. Here’s what you should know today, Jan. 9: |
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Kevin McCarthy faces his first challenge as House speaker Earth’s ozone layer recovered as airborne chemicals declined To lay off or not to lay off, that is just one HR question |
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| Supporters of former Brazilian President Jair Bolsonaro left their encampment outside army headquarters in São Paulo on Monday. PHOOT: ANDRE PENNER/ASSOCIATED PRESS |
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1. Brazilian authorities detained more than 1,200 supporters of former President Jair Bolsonaro today. |
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They also removed one of his key allies, Brasília’s federal district governor, from his post. This came after protesters stormed the presidential palace, Congress and the Supreme Court in the capital yesterday in what officials said was an attempt to overthrow the country’s newly elected leader, Luiz Inácio Lula da Silva. The October presidential election was the closest in Brazil’s history. Bolsonaro hasn’t publicly conceded, but on Twitter condemned attacks on government buildings. Brasília’s governor tweeted that he’d done everything possible to contain the attacks. |
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Follow live updates and analysis (Read) Biden’s Summit With Mexican and Canadian Counterparts to Focus on Migration and Supply Chains (Read) Russian Ship’s Secretive South Africa Stop Prompts U.S. Questions (Read) Noma, One of the World’s Top-Rated Restaurants, Is Closing Its Doors (Read) |
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2. A House rules vote today will test the unity of the GOP. |
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The package, which includes standard rules on decorum, also restores a procedure that would allow one Republican member to ask for a vote to remove the speaker and outlines several of the party’s spending priorities. Both provisions were added due to pressure from conservatives. The rules vote typically happens on the first day of a new Congress, but Kevin McCarthy’s election as speaker—which took 15 ballots—delayed it. All Democrats are likely to vote against the rules package, and some GOP lawmakers are considering joining them to protest McCarthy’s deal with conservatives, the details of which haven’t been fully disclosed. The GOP has 222 seats to the Democrats’ 212 with one vacancy. |
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GOP House Takes First Swipe at IRS Money (Read) Georgia Unlikely to End General-Election Runoff Law This Year (Read) Georgia Special Grand Jury Completes Donald Trump Investigation (Read) |
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3. U.S. stocks finished mixed. |
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The S&P 500 fell 0.1%, and the Dow Jones Industrial Average declined 0.3%. The tech-focused Nasdaq Composite rose 0.6%. Meanwhile, higher interest rates and the deep selloff in big technology stocks are fueling an options boom. |
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Even the Pros Never Forget the Investment That Got Away (Read) SEC Charges Ex-McDonald’s CEO With Misleading Statements Over His Firing (Read) Southwest Airlines Meltdown Prompts Questions From Big Investor (Read) 🎥 Why a Bite Has Been Taken Out of Beyond Meat’s Stock (Watch) |
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4. China’s Covid-19 infections peaked in populous regions, according to local officials. |
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By Friday, 89% of the 100 million residents in the central province of Henan had caught the Omicron variants that have been sweeping the country. Beijing lifted many of its strict pandemic rules last month. The abrupt reversal of its zero-Covid strategy is part of China’s opaque decision-making that has confounded businesses and foreign governments. The black-box political system has become increasingly impenetrable as Chinese leader Xi Jinping has accumulated more power. |
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Beijing Signals Two-Year Internet Crackdown May Be Coming to an End (Read) Foreign Investors Are Leery of China Bets, Despite Rebound Expectations (Read) China’s Belt and Road Plan Is Down, Not Out (Read) |
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