Meta’s new head of global policy Joel Kaplan has close Republican ties
Meta is putting a Republican in charge of global policy just weeks before President-elect Donald Trump takes back the White House. Joel Kaplan is a former deputy chief of staff to President George W. Bush and has close ties to the Republican Party. He’ll replace former deputy prime minister of Britain Nick Clegg.
Clegg said it was the “right time” for him to move on as Meta’s president of global affairs in a Facebook post.
“Joel is quite clearly the right person for the right job at the right time – ideally placed to shape the company’s strategy as societal and political expectations around technology continue to evolve,” Clegg wrote.
Joel Kaplan (far right) is pictured in the Roosevelt Room of the White House in 2007. Kaplan served as President George W. Bush’s Deputy Chief of Staff for Policy. Getty Images.
Kaplan has been at Facebook since 2011, most recently as Clegg’s deputy. In a comment on Clegg’s post, Meta CEO Mark Zuckerberg told the former Liberal Democrat party statesman he’s grateful for his service over the past seven years.
“I’m excited for Joel to step into this role next given his deep experience and insight leading our policy work for many years,” Zuckerberg said.
The switchover comes as Meta cozies up to Trump ahead of the White House switchover. Meta recently donated $1 million to Trump’s inaugural fund, a break from tradition. Meta did not donate to President Joe Biden’s inauguration or Trump’s first one.
The donation came after Zuckerberg visited Trump at Mar-a-Lago following the election. Trump has previously called Facebook a “true Enemy of the People” and accused Zuckerberg and his wife of using election donations to boost Democratic voter turnout.
As Zuckerberg tries to smooth things over with the future president, Clegg’s politics might have become a hurdle if he had stayed. He didn’t shy away from sharing his thoughts. Just this past month, he said on a BBC podcast that X owner Elon Musk, who is very close to Trump, could become a “political puppet master.”
“Elon Musk is obviously now playing an outsized role in both the election and now the formation of the new U.S. administration,” Clegg said.
Meanwhile, Kaplan has previously faced pressure for his Republican ties. He once apologized to Meta staffers after he was spotted sitting behind his close friend Brett Kavanaugh during Kavanaugh’s contentious Supreme Court nomination hearing.
But those ties could help Meta navigate a new terrain today. Among those praising Kaplan’s promotion is Texas Republican Sen. Ted Cruz, who called Kaplan a friend of 25 years.
Congratulations. Both Joel and Kevin have been friends of mine for 25 years, and I am hopeful that their promotion signals a renewed commitment to free speech online. For the past decade, Big Tech has been far too eager to censor and silence, I hope that Meta will now join X in…
“I am hopeful that their promotion signals a renewed commitment to free speech online,” Cruz wrote on X. “For the past decade, Big Tech has been far too eager to censor and silence, I hope that Meta will now join X in fighting to protect free speech for everyone.”
Kaplan’s Facebook profile is pretty bare. His only post of 2024 is one sporting a photo of him with Vice President-elect JD Vance, taken when Trump rang the New York Stock Exchange bell.
Government shutdown looms as House votes against latest funding bill
A government shutdown looms nearer after the House rejected a bill that would have kept it funded into March. And drones are now banned in parts of New York and New Jersey after a spate of mysterious sightings. These stories and more highlight your Unbiased Updates for Friday, Dec. 20, 2024.
House votes against latest stopgap bill aimed to avoid government shutdown
The House rejected a stopgap bill Thursday, Dec. 19, that would have kept the government running. The vote came ahead of a potential shutdown starting at midnight Saturday, Dec. 21, when lawmakers head home for the holidays.
The bill fell short of the needed two-thirds majority to speed up its passage. More than three dozen Republicans joined 197 Democrats in voting against it. Republicans split with each other on how the bill handles government spending.
“Three hundred and thirty billion dollars. Congratulations. You’ve added to the debt since you were given the majority again on Nov. 5,” Rep. Chip Roy, R-Texas, said.
Roy voted against the bill.
He added, “It’s embarrassing. It’s shameful. Yes, I think this bill is better than it was yesterday in certain respects. But to take this bill, to take this bill yesterday and congratulate yourself because it’s shorter in pages but increases the debt by $5 trillion, is asinine.”
Meanwhile, Rep. Anna Paulina Luna, R-Fla., said on the House floor, “The deal on the table will keep the government open for the American people and if you guys so choose to shut it down, it will be on you but not the Republican Party.”
She added, “We will not be going back to the table. This deal stands as it is. So let you go back home on Christmas and explain to your people why you shut down the government because we won’t be doing it.”
The latest spending bill, known as a continuing resolution, is a quickly amended bill tailored to the liking of President-elect Donald Trump and his top ally Elon Musk.
Musk postedrepeatedlyonX condemning the original bill. House Speaker Mike Johnson, R-La., worked on it with bipartisan support from Republicans and Democrats.
However, when both Musk and Trump opposed the bill, that guaranteed most House Republicans would vote against it and forced Johnson to craft a new bill.
Now, there are two conflicting interests. Musk wants major government spending cuts, and while Trump agrees, he also wants to permanently suspend the debt ceiling.
The new plan lifts the debt limit, leading Trump to support the bill in a Truth Social post.
“Now we can Make America Great Again, very quickly, which is what the People gave us a mandate to accomplish,” Trump posted.
But Democrats attacked the bill over what spending Republicans chose to cut.
“The Musk-Johnson proposal is not serious, it’s laughable,” said House Minority Leader Rep. Hakeem Jeffries, D-N.Y. “Extreme MAGA Republicans are driving us to a government shutdown.”
The bill removed funding for a bipartisan program for pediatric cancer research, studying genetic conditions like Down syndrome and treatment options for sickle cell disease as well as cancers.
It will be on Johnson to craft a bill to secure votes from the majority of the House.
However, Johnson may not have the political leeway to rely on support from Democrats. He’ll need nearly every returning member of the House Republican caucus to vote for him next month to remain speaker.
The new Congress takes office in the new year.
New details of accused UnitedHealthcare CEO shooter’s plan emerge
Newly unsealed court documents put into perspective what led up to the deadly shooting of UnitedHealthcare CEO Brian Thompson. A federal complaint shed light on 26-year-old Luigi Mangione’s “hostility toward the health insurance industry and wealthy executives in particular.”
In a notebook found on Mangione when he was arrested, he allegedly wrote of his plans to “wack” an insurance company CEO at its investor conference. Federal prosecutors said he traveled from Georgia to New York to stalk and kill Thompson.
Magione appeared in a New York courtroom Thursday, and four new federal charges were levied against him. The charges included murder with a firearm, which is an offense punishable by the death penalty.
The hearing followed Mangione’s extradition from Pennsylvania, where police arrested him on Dec. 9, to New York.
Armed guards surrounded Mangione as NYPD officers walked him off a helicopter upon his arrival in Manhattan. New York City Mayor Eric Adams joined the walk.
“Police Commissioner [Jessica] Tisch and I all want to send a very clear and loud message that this act of terrorism and the violence that stems from it is something that will not be tolerated in this city,” Adams told the press at the site of the helicopter arrival.
Mangione already faces state-level charges in New York. Manhattan District Attorney Alvin Bragg brought charges against him Tuesday, Dec. 17, including for murder as an act of terrorism.
However, Mangione also received a hero’s welcome from protesters outside the courthouse. Thompson’s killing sparked backlash against the health insurance industry and its coverage policies.
While judges have not set any dates yet, Mangione will face state-level charges first. A federal trial will follow.
New York abolished the death penalty, meaning it’s not an option for Mangione in the state-level case. However, the death penalty can still be exercised in the federal case.
FAA temporarily bans drones in parts of New York and New Jersey
Drones are now banned in parts of New York and New Jersey — at least for the time being. It comes amid an investigation into multiple mysterious sightings over the last month that set off fear and speculation.
In a statement, New York Gov. Kathy Hochul said the Federal Aviation Administration’s bans are “purely precautionary.” Meanwhile, the FAA’s restrictions in New Jersey are largely aimed at limiting drone flights over power stations and infrastructure.
The FAA implemented emergency flight restrictions across New Jersey, prohibiting drone operations until Jan. 17, 2025, for “special security reasons.” Unless operators obtain special government clearance, the directive bans uncrewed aircraft within a one-nautical-mile radius of designated areas and up to 400 feet in altitude.
The FAA designated areas such as Camden, Jersey City, Elizabeth and South Brunswick as “National Defense Airspace.”
Violators may face severe penalties, including interception, detention, certificate revocation and potential criminal charges. In extreme cases, authorities are authorized to use “deadly force” against drones posing an “imminent security threat.”
These restrictions follow a surge in unexplained drone sightings across New Jersey and nearby states that began in mid-November. Federal agencies, including the Federal Bureau of Investigation (FBI) and the Department of Defense (DOD), received over 5,000 reports of drone activity.
Dow Jones snaps worst losing streak in 50 years
The Dow Jones Industrial Average snapped its worst losing streak in 50 years Thursday. The losing streak lasted 10 days.
During the losing streak, the market wiped out all of its post-election gains. The Dow ended Wednesday down 2.5% from when Trump won the election.
Also on Wednesday, Wall Street’s fear gauge, the CBOE Volatility Index, had its second-biggest percentage spike in history. The VIX shot up 74% after the Federal Reserve shared its outlook for the coming year.
On Wednesday, the Fed cut its benchmark interest rate for a third time in 2024, which was widely predicted.
Feeling the holiday blues?
The holidays are often called “the most wonderful time of the year,” but the season can bring about sadness and stress for many. This -emotional shift, commonly known as the “holiday blues” or seasonal affective disorder (SAD), can affect millions of people across the country.
Licensed adult psychiatrist Dr. Patrice Mann said the holiday blues are due to several factors. They include social pressures, disruptive routines and financial strain.
“Things like having a bunch of holiday events on the calendar, not to say we don’t look forward to them oftentimes, but they take a toll on us,” says Dr. Mann. “You’re up late, interacting with a lot of people, and that’s not everyone’s nature.”
Grief and seasonal depression can also complicate these feelings. According to the National Institute of Mental Health, seasonal depression affects millions of Americans every year, but many may not even realize they have it.
Symptoms of holiday blues and seasonal depression can include a persistent low mood, loss of interest in activities and changes in eating or sleeping habits. If these symptoms last more than two weeks, Dr. Mann said it could indicate a more serious depressive episode. In such cases, seeking professional help is important.
Dr. Mann recommended several self-care strategies to help manage both the holiday blues and seasonal depression. She suggested getting tested for vitamin D deficiency and taking supplements during winter. Vitamin D plays a vital role in mood and energy levels.
She also advised getting as much sunlight as possible during the shorter winter days. Light therapy boxes can mimic outdoor sunlight if natural sunlight isn’t available. Using them for 20 to 30 minutes in the morning can help trick the brain and improve mood.
For those experiencing grief during the holidays, Dr. Mann encouraged reflecting on personal needs and communicating with trusted friends or family members. She also recommended incorporating new social activities into your routine and checking in with yourself after attending events.
For those supporting others through grief, it’s important to recognize that everyone processes emotions differently. Dr. Mann suggested engaging in activities with those less open about mental health, such as cooking or playing games, to help create a comfortable environment for them to express themselves.
While the holiday season brings unique challenges, small steps can make a big difference. Prioritizing self-care, maintaining routines and reaching out for support are important practices to help manage holiday stress.
If you or someone you know is struggling, remember that professional help is available. The National Suicide Hotline is available 24 hours a day by calling 988.
Dow Jones snapping worst losing streak in 50 years
After the worst losing streak in 50 years, the stock market is looking to snap back Thursday, Dec. 19. The Dow Jones Industrial Average’s 10-day losing streak through Wednesday, Dec. 18, is the longest since 1974.
During the losing streak, the market wiped out all of its post-election gains. The Dow ended Wednesday down 2.5% from when President-elect Donald Trump won the election.
Also on Wednesday, Wall Street’s fear gauge, the CBOE Volatility Index, had its second-biggest percentage spike in history. The VIX shot up 74% after the Federal Reserve shared its outlook for the coming year.
Usually, when the Fed does what markets expect, investors take the news in stride. On Wednesday, the Fed cut its benchmark interest rate for a third time in 2024, which was widely predicted. But it was what came next that spooked investors.
“It was all but a known fact that they were going to do it,” Aaron Cirksena, CEO and founder of MDRN Capital, said. “I think when Jerome Powell says that they were starting to get on the cusp of whether it was the right decision or not, that’s really him using some leading language into next year, to just preface that, look, you’ve got to have some caution, that they might not be willing to just go into next year full steam saying, yes, we’re definitely going to be lowering every time we sit down another six to eight times next year.”
“I think at one point three months or so ago, that was kind of the assumption heading into 2025,” Cirksena continued. “I think now that’s starting to just get pulled back a little bit.”
The Fed went from projecting four cuts in 2025 to now projecting just two. They also expect inflation to be higher next year than previously forecast, which directly translates to a higher-for-longer interest rate policy.
As of Thursday, Dec. 19, the probability market isn’t favoring another Fed cut until May.
Wednesday marked the worst performance on record for the S&P 500 during a Fed interest rate announcement day, according to Bespoke Investment Group. But the biggest market losses since the election are more isolated to the Dow.
If you zoom out for the bigger picture, the entire market’s up double digits on the year. The tech-heavy Nasdaq has the highest gains, followed by the S&P 500 and then the Dow Jones.
Biden backs banning stock trades for Congress. Will Trump?
President Joe Biden has thrown his support behind banning members of Congress from trading stocks. His comments come in the waning hours of his administration as the issue has split members of Congress.
“Nobody in the Congress should be able to make money in the stock market while they’re in the Congress,” Biden said during an interview with Faiz Shakir, an adviser to Sen. Bernie Sanders, I-Vt.
Bipartisan groups of lawmakers have proposed legislation to ban congressional members from trading stocks but despite increased support, it has never received a vote.
The Stop Trading On Congressional Knowledge Act, or STOCK Act, which passed back in 2012, made it illegal for members of Congress to trade using knowledge gained from their jobs. The law also forces more transparency in their personal finances, for instance, disclosing trades in a timely manner made by themselves, their spouse or a dependent child.
“We continue to see story after story hit the headlines of members of Congress who bought or sold stock relative to or related to the Silicon Valley Bank collapse” Rep. Abigail Spanberger, D-Va., said in May 2023. “Before that, it was the invasion of Ukraine. Before that, it was COVID.”
“The easiest, most straightforward way to achieve this is to ban members of Congress from trading stocks,” she said. “And I am so proud that we continue to have an ever-growing coalition. The bill that I lead with Rep. Chip Roy has more than 55 co-sponsors – Democrats, Republicans, across the board, geography wise, across the board, political ideology wise – because this common-sense solution of banning members of Congress from trading stocks just makes sense.”
“The truth is, Congress should not be here to make a buck,” Sen. Josh Hawley, R-Mo., said in July of this year. “Congress should be here to serve the American people. There is no reason why members of Congress ought to be profiting off of the information that only they get.”
Hawley, along with three Senate Democrats, proposed a ban on stock trading in the upper chamber at the time.
Some congressional members have had considerable success in trading stocks. There are even funds that allow regular Americans to invest like congressional members. NANC, which tracks Democrats trading habits, is up over 32% this year, outpacing the S&P 500. Meanwhile, KRUZ, which tracks Republicans, is up just 17%.
When it came up, former Speaker Nancy Pelosi, D-Calif., shot down the notion of banning Congressional stock trades. She said she opposed the idea “because this is a free market, and we are a free market economy, they should be able to participate in that.”
Biden took pride in where he stood on the list of wealthiest members of Congress during his career in the Senate.
“For 36 years I was listed as the poorest man in the Senate, not a joke,” Biden said during an interview. “I mean in Congress, not the Senate, House and Senate. I never thought I was poor. I had a salary that a senator made. I don’t know how you look at constituents in the eye and know because the job they gave you, gave you an inside track to make more money.”
It’s tough to gauge the impact of Biden’s support of this legislation in his final weeks. But President-elect Donald Trump rang the same bell when announcing he would seek the nation’s highest office once again.
“We want a ban on members of Congress getting rich by trading stocks on insider information,” Trump said in November 2022.
Price of Bitcoin rises to $100,000 for the first time
Bitcoin prices are booming. The price of a single Bitcoin surged Wednesday, Dec. 4, to more than $100,000, marking the first time the 16-year-old cryptocurrency hit six figures.
Bitcoin’s milestone came just hours after President-elect Donald Trump announced Paul Atkins as his pick to be the next chairman of the Securities and Exchange Commission. Trump has promised to make the U.S. “the crypto capital of the planet.”
Atkins was an SEC commissioner during George W. Bush’s presidency and is known to be a strong supporter of cryptocurrencies. In the early 1990s, he was on the staff of two former SEC chairs, Richard Breeden and Arthur Levitt, a Republican and Democrat, respectively.
Atkins founded Patomak Global Partners, an advisory firm that works with banks and investment firms on regulation and compliance.
“Paul is a proven leader for common sense regulations,” Trump posted on Truth Social. “He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.”
Current SEC Chair Gary Gensler has said he will step down from the role on Jan. 20, the day of Trump’s inauguration.
Macy’s says employee hid up to $154 million, delays earnings report
Macy’s delayed its earnings report as it deals with a multi-million dollar accounting scandal. The company said one employee is responsible for intentionally hiding up to $154 million worth of expenses across three years.
That employee, who’s now fired, is accused of making fraudulent accounting entries while managing small-package deliveries.
Macy’s said it identified the issue in one of its accrual accounts earlier this month before an investigation was able to trace it back to the employee.
As a result, the company had to pause its quarterly earnings report expected Tuesday, Nov. 26.
“While we work diligently to complete the investigation as soon as practicable and ensure this matter is handled appropriately, our colleagues across the company are focused on serving our customers and executing our strategy for a successful holiday season,” Macy’s Inc. chairman Tony Spring said.
This comes as many retailers, including Macy’s, experience struggling sales.
The company announced earlier this year it would be closing around 150 stores over the next three years in an effort to energize its business.
As of Monday, Nov. 25, Macy’s shares were down 3.5%.
Florida man charged in plot to blow up New York Stock Exchange
A Florida man is facing charges after being accused of planning to blow up the New York Stock Exchange. The FBI said agents arrested Harun Abdul-Malik Yener, 30, on Wednesday, Nov. 20.
The investigation started in February 2024 after the FBI received a tip that Yener was keeping bomb-making supplies in a storage unit.
Investigators said they found bomb-making sketches, watches with timers, electronic circuit boards and other electronics that could be used for building explosive devices in Yener’s Coral Springs storage unit.
Court documents indicate Yener also told undercover FBI agents he wanted to set off the bomb the week before Thanksgiving. He’s also quoted as saying “tons of people” would support an attack on the stock exchange and that his goal was to “reset” or “reboot” the U.S. government.
Harris, Trump turn to PA with 3 weeks to go until Election Day
With exactly three weeks until Election Day, both candidates have their sights set on Pennsylvania. And NASA has launched its ambitious plan to visit the largest planet in our solar system in hopes of making a new discovery. These stories and more highlight your Unbiased Updates for Tuesday, Oct. 15, 2024.
Harris, Trump turn to PA with 3 weeks to go until Election Day
With just three weeks until Election Day, the 2024 presidential candidates are focusing on the key battleground states — and none may be as important as Pennsylvania and its 19 electoral votes. Both Vice President Kamala Harris and former President Donald Trump took their message once again to the Keystone State on Monday, Oct. 14, each believing that if they win Pennsylvania, they will win the election.
Harris held a rally in the northwestern city of Erie, where Trump visited a few weeks ago. The vice president painted her opponent as a threat to American democracy, warning her supporters of what she calls the dangers of another Trump presidency.
“I believe so strongly that a second Trump term would be a huge risk for America and dangerous,” she said. “Donald Trump is increasingly unstable and unhinged, and he is out for unchecked power. That’s what he’s looking for.”
Harris also urged Pennsylvanians to get out to vote early as mail-in voting is now underway in the state.
Also Monday, former President Trump spoke during a town hall in Oaks, Pennsylvania, a suburb of Philadelphia. He touched on claims he’s a threat to democracy.
“When they talk about a threat to democracy, how about where they take a candidate who won fair and square, they throw them out and they put up a woman who failed, was the first one to drop out of a field of 22 and got no votes?” he said. “And this is the person we’re running against. And she is not a smart woman. That’s true. And we cannot — we’ve had that for four years. We’re not going to have it for another four years.”
Trump cut his town hall short after two attendees required medical attention, with both the former president and moderator South Dakota Gov. Kristi Noem commenting on the heat in the venue. Trump then requested music be played for the remainder of the event.
Trump will be back in Georgia on Tuesday as the focus on the battleground states intensifies.
Along with rallies, the candidates are continuing their media tour to reach voters. The vice president will take part in a town hall Tuesday, Oct. 15, hosted by the radio program “The Breakfast Club” and then she will appear on Fox News on Wednesday, Oct. 16.
The group of pro-Palestinian demonstrators staged a sit-in demanding an end to U.S. support for Israel’s war against Hamas. While none of the protesters got into the stock exchange, dozens did cross the security fence put in place by police.
A New York Police Department spokesperson said officers arrested 206 people.
Since the war in Gaza started just over a year ago, more than 42,000 Palestinians have been killed and almost the entire population has been displaced, according to Gaza health officials.
North Carolina man arrested for allegedly threatening FEMA workers
Investigators in North Carolina arrested and charged a man with threatening to harm FEMA workers who were helping parts of the state devastated by Hurricane Helene.
According to the Rutherford County Sheriff’s Office, William Parsons, 44, is charged with “going armed to the terror of the public” — a misdemeanor.
In a statement, the sheriff said while initial reports indicated there was a group of armed militia members threatening FEMA workers, they found Parsons acted alone. Officials said he did have a handgun and a rifle in his possession when arrested.
The arrest followed misinformation and disinformation being spread about FEMA in the wake of the natural disaster and caused FEMA to change the way it was working to help people impacted by Helene because of concerns over workers’ safety.
NASA launches mission to find signs of life on Jupiter moon
The mission, dubbed Europa Clipper, started its long journey to Jupiter’s fourth largest moon on Monday. It’s expected to enter the planet’s orbit in 2030 after a flight of 1.8 billion miles.
Pair of giant pandas set to arrive at the National Zoo
Eleven months after the National Zoo in Washington, D.C. Said goodbye to its giant pandas, two new ones are on their way. The pair of giant pandas have officially left a research facility in China and are set to be flown to D.C., according to Chinese officials.
It’s not yet clear when they’ll arrive. The zoo’s website still says new pandas will be coming by the end of the year, however, on Monday, the Zoo did announce it will be closed Tuesday for the safety of the pandas and staff.
The return of panda diplomacy between China and the U.S. has already seen a pair delivered to the San Diego Zoo with another promised to San Francisco.
2,471-pound pumpkin wins world championship
A 2,471-pound pumpkin won the 51st World Championship Pumpkin Weigh-off Monday in Half Moon Bay, California, south of San Francisco, defeating its closest competitor by six pounds.
Hundreds of demonstrators from the Jewish Voices for Peace group staged a sit-in outside the building. Several people chained themselves to the doors just before the opening bell.
The group shouted “free Palestine” and held signs that read “Jews for Palestine’s freedom.” They also blocked off the building while demanding the U.S. government “fund FEMA, not genocide.”
The group posted on X following the arrests, “our ancestors taught us to never be bystanders in the face of injustice.” This comes after Israel’s military launched another attack Sunday, Oct. 13, which included an airstrike on a hospital in Gaza.
The strike targeted Hamas militants that were allegedly operating out of the hospital, according to the Israeli Defense Forces. An NYPD spokesperson said around 200 people were arrested at the protest.
Paul Pelosi sold over $500K in Visa stock before DOJ antitrust lawsuit: Report
Paul Pelosi, the husband of former House Speaker Nancy Pelosi, sold over $500,000 worth of Visa stock weeks before the U.S. Department of Justice filed an antitrust lawsuit against the credit card company. The sale raised concerns due to its timing and previous financial scrutiny on the Pelosi family.
According to public records, Pelosi sold 2,000 shares of Visa stock in early July, with the value estimated between $500,000 and $1 million. The timing of the sale coincides with the DOJ’s lawsuit, which accuses Visa of monopolizing the debit card market by offering incentives to financial technology companies such as PayPal, Stripe, and Square.
This is not the first time the Pelosi family’s financial activities have been scrutinized. Critics have raised concerns about potential access to private information due to Nancy Pelosi’s influential role in Washington.
A spokesperson for the former speaker responded, stating: “Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions.”
Visa’s shares fell 5.5% following news of the lawsuit. The company has stated it will cooperate fully with the investigation and maintains that its business practices comply with U.S. laws.
