Rep.-elect Santos quiet as speaker vote delays swearing-in

NEW YORK (AP) — Republican Rep.-elect George Santos of New York, who is accused of lying about large swaths of his background and accomplishments, will have to wait to add one thing with certainty to his resume: U.S. congressman.

Santos arrived in Washington to be sworn in Tuesday, but his swearing-in was delayed after Republicans who control the House failed in multiple rounds of voting to elect a speaker. Incoming members cannot be sworn in until a speaker is chosen.

Santos, who faces a spiral of investigations from federal and local prosecutors into his campaign spending and lies about his family history, resume and education, declined to respond to questions from reporters inside and outside the Capitol, including one question about whether he planned to resign. Santos sat by himself on the Republican side of the House floor during Tuesday’s votes, largely keeping to himself and looking at his phone.

He joined most Republicans in backing Kevin McCarthy for speaker, but McCarthy fell short of the majority needed to claim the gavel. Voting ended for the day after three rounds Tuesday and was set to resume Wednesday.

Initially, the victory by Santos, an openly gay Republican who flipped a Long Island House seat held by Democrats for a decade, was seen as one of his party’s bright spots in an otherwise underwhelming midterm election. But as reports began to emerge that he had lied about having Jewish ancestry, a career at top Wall Street firms and a college degree, Santos turned into a distraction and embarrassment to the party as it prepares to take control of the House.

While some fellow Republicans have called for ethics investigations or for Santos to resign, GOP House leaders, including McCarthy, have notably remained silent. For his part, Santos apologized for his fabrications but downplayed them as “sins” over embellishing his resume, telling The New York Post that “we do stupid things in life.”

Santos’ financial disclosure forms show that he accrued a quick fortune despite recent financial problems and that he spent large amounts of campaign funds on travel and hotels.

Federal prosecutors in New York have started to examine Santos’ background and his financial dealings, a person familiar with the matter told The Associated Press.

The New York attorney general’s office said it’s looking into the allegations surrounding Santos, while local district attorneys’ offices in Queens and Long Island have also said they are reviewing whether Santos broke any laws.

Court records in Brazil, first uncovered by The New York Times, show Santos was the subject of a criminal charge for using two stolen checks in 2008, when he would have been 19, to buy about $1,350 worth of items at a clothing shop in the city of Niteroi, including a pair of sneakers that he gave to a friend.

Santos in a signed confession admitted having stolen the checkbook of his mother’s former employer from her purse and making purchases, according to court documents reviewed by the AP.

A judge accepted the charges against Santos in 2011, but subsequent subpoenas for him to appear personally or present a written defense went unanswered. With authorities repeatedly unable to determine his whereabouts, the case was suspended in 2013. But in a statement on Tuesday, state prosecutors in Rio de Janeiro said now that Santos’ location is known they will petition to reopen the case. The state courts are in recess until Friday.

Democrats in Congress are expected to pursue several avenues against Santos, including a potential complaint with the Federal Election Commission and introducing a resolution to expel him once he’s a sitting member.

Until 2020, Santos had no assets and an income of $55,000 from LinkBridge Investors, according to financial disclosure statements filed with the clerk of the House.

Two years later, in a similar filing, Santos reported income between $1 million and $5 million for each of 2022 and 2021 — all coming from the Devolder Organization, of which he had total interest. He described the entity as a “capital intro consulting company.”

Federal campaign records show that he loaned his campaign more than $700,000.

The North Shore Leader, a newspaper on Long Island, raised questions before the election about Santos’ finances and campaign spending, a report that drew little notice at the time. In announcing it was endorsing his opponent, the newspaper cited Santos’ behavior and called him “sketchy” and “most likely just a fabulist — a fake.”

But his statements about his background, his financial disclosures and campaign spending didn’t attract widespread attention until December, when The New York Times examined the narrative that Santos presented to voters during his campaign.

Since then, Santos has admitted lying about working for Citigroup and Goldman Sachs, as well as having earned a degree in finance and economics from Baruch College in New York.

Beyond his resume, Santos invented a life story that has also come under question, including claims that his grandparents “fled Jewish persecution in Ukraine, settled in Belgium, and again fled persecution during WWII.”

During his campaign, he referred to himself as “a proud American Jew.”

He backtracked on that claim, saying he never intended to claim Jewish heritage, which might have raised his appeal among his district’s significant ranks of Jewish voters.

“I never claimed to be Jewish,” Santos told the Post. “I am Catholic. Because I learned my maternal family had a Jewish background I said I was ‘Jew-ish.’”

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Associated Press reporters Michael Balsamo in Washington, Bobby Caina Calvan in New York and David Biller and Diane Jeantet in Rio de Janeiro contributed to this report.

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Rep. Spartz explains reasoning behind ‘present’ vote for Speaker

Just In | The Hill 

Rep. Victoria Spartz (R-Ind.) said she voted “present” in Wednesday’s Speaker votes to push Republicans to return to deliberations, as the party remains divided on Rep. Kevin McCarthy’s (R-Calif.) bid for the Speakership.

“My concern is that … we didn’t come together yet,” Spartz told reporters. “So, we have to go back to the conference room, to HC-5, and deliberate as a body, as a group of people, and figure it out.”

Spartz, who voted for McCarthy for Speaker in the three votes held on Tuesday, said she told McCarthy ahead of time that she would change her vote to “present” on Wednesday to “help with deliberation,” as a group of 20 Republicans continued to block his bid for Speaker. 

The vote breakdown has remained largely consistent across all six ballots so far, with all 212 Democrats backing incoming House Minority Leader Hakeem Jeffries (D-N.Y.) and just over 200 Republicans supporting McCarthy.

The original 19 Republican defectors coalesced around Rep. Jim Jordan (R-Ohio) in the second vote on Tuesday and were joined by Rep. Byron Donalds (R-Fla.) in the final vote of the day.

While the anti-McCarthy group shifted its nomination to Donalds in Wednesday’s votes, the only real movement so far on the second day of Speaker votes has come from Spartz, as she changed her vote to “present.”

​House, Byron Donalds, Hakeem Jeffries, House Republicans, Kevin McCarthy, Speaker of the House, Speakership vote, Victoria Spartz Read More 

Microsoft Stock: Here's When to Buy the Dip

Yesterday, Apple  (AAPL) – Get Free Report and Tesla  (TSLA) – Get Free Report were getting hit. Now it’s Microsoft’s  (MSFT) – Get Free Report turn.

Shares of the megacap software stalwart — the second largest U.S. stock, with a $1.7 trillion valuation — are down more than 5% the day after a downgrade from UBS.

The investment firm argues that growth concerns for Azure and vulnerability regarding Microsoft Office 365 could hurt the business.


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Top WHO official says China undercounting COVID deaths

Just In | The Hill 

A top World Health Organization (WHO) official on Wednesday said China is underreporting deaths from COVID-19 and called for more transparency about the scope of the country’s outbreak.

“We believe the current numbers being published from China underrepresent the true impact of the disease in terms of hospital admissions, in terms of ICU admissions, and particularly in terms of death,” said Mike Ryan, head of the WHO’s health emergencies program.

Ryan said China is using too narrow a definition of death attributable to COVID-19. According to WHO guidelines, COVID-19 should be listed if the disease “caused, or is assumed to have caused, or contributed to death.”

“We still do not have complete data,” Ryan said. “We do not discourage doctors and nurses reporting these deaths or these cases.”  

Ryan added that even though there don’t appear to be any new variants circulating in the country, poor surveillance and poor vaccine coverage will lead to missed cases and more deaths. 

During the same briefing, WHO Director-General Tedros Adhanom Ghebreyesus reiterated calls for more data transparency from Chinese authorities.

“We continue to ask China for more rapid, regular, reliable data on hospitalizations and deaths, as well as more comprehensive, real-time viral sequencing,” Tedros said. 

“WHO is concerned about the risk to life in China and has reiterated the importance of vaccination, including booster doses to protect against hospitalization, severe disease and death,” he added.

Last month, China abruptly ended its “zero-COVID” strategy amid nationwide protests, which has resulted in infections surging without an adequate health infrastructure or enough vaccinations in place. At the same time, Chinese health authorities are reporting extremely low levels of deaths.

As a result, several countries have announced COVID-19 measures for travelers coming from China amid growing concerns of the lack of data on daily infections in the country and the spread of new variants. 

A new Biden administration policy beginning Jan. 5 will require all passengers departing China for the U.S. to produce a negative PCR test taken no more than 48 hours ahead of time, regardless of vaccination status or nationality.

While the policy has been criticized as ineffective by some public health experts, Tedros has endorsed the measure.

“With circulation in China so high and comprehensive data not forthcoming … it is understandable that some countries are taking steps they believe will protect their own citizens,” Tedros said.

​Healthcare, Policy, China, COVID-19, World Health Organization Read More 

Our 15 Best Tofu Recipes to Fry, Bake, Simmer & More

Food52 

Tofu is truly versatile. Light on flavor in the best way possible, it soaks up whatever ingredients you cleverly pair it with, from spicy to salty to sweet to tart. Treat it as a wonderfully-textured blank canvas: You can grill, fry, or bake firm tofu as a stand-in for meat or purée silken tofu as a substitute for dairy or eggs. In our favorite tofu recipes, however, this wonderful block of soy isn’t simply a stand-in—it’s a star. Try these 15 dishes that feature tofu as a headline ingredient.

Our Best Tofu Recipes

1. Crispy Pan-Fried Tofu With Soy-Scallion Sauce

Here, crispy tofu serves as a neutral base for a concentrated, super-flavorful sauce made with gochugaru, soy sauce, honey, and a whole lot of scallions. Inspired by both Japanese agedashi tofu and the Korean-style pan-fried tofu she ate growing up, recipe developer Joy Cho says that all you need is a bowl of rice to complete this simple, budget-friendly meal.

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Idaho murders suspect Bryan Kohberger’s dad mentioned WSU SWAT shooting in new police bodycam

Latest & Breaking News on Fox News 

Idaho murders suspect Bryan Kohberger and his father mentioned a Washington State University shooting to an Indiana deputy during a traffic stop on their cross-country trip to Pennsylvania in mid-December, new bodycam footage reveals, along with the suspect’s voice.

The encounter happened several hours before state police stopped the duo, and the same morning in which a Washington SWAT team killed an armed man after a standoff.

The Kohbergers do not appear to have been ticketed either time, and referred to the Washington incident as a “mass shooting,” although only the suspect was shot.

“Where are you headed?” the deputy asks.

IDAHO MURDERS: BRYAN KOHBERGER SEEN ON BODY CAMERA FOOTAGE DURING TRAFFIC STOP IN INDIANA

“Well, we’re coming from WSU,” Kohberger’s father, Michael Kohberger, begins to reply, before a passing car drowns out his voice.

WATCH: New video shows traffic stop in Indiana involving Idaho murder suspect

IDAHO MURDERS UNRELATED TO PULLMAN POLICE SWAT ACTIVITY NEAR WASHINGTON CAMPUS, COPS SAY

“What’s WSU?” the deputy responds.

Both men being replying at the same time, and even the deputy says he’s having a hard time hearing them over the passing vehicles.

“So you’re coming from Washington State University, and you’re going where?” he asks. 

“We’re going to Pennsylvania,” the elder Kohberger responds.

The conversation then returned to the WSU shooting. As Fox News Digital has reported, an hours-long standoff at an apartment near campus in the earl hours of Dec. 15 resulted in a police-involved shooting that left the suspect dead.

Witnesses in Pullman, Washington, said they heard multiple gunshots throughout the evening of Dec. 14 into the following morning.

Fox News Digital overheard the final one, before 4 a.m.

Later that day, Kohberger was pulled over for tailgating in Hancock County and again for speeding near Indianapolis, according to authorities.

UNIVERSITY OF IDAHO MURDERS TIMELINE: WHAT WE KNOW

Pullman is just over 6 miles from Moscow, Idaho, where Kohberger is accused of fatally stabbing four students at another school in their sleep.

The ambush attack killed Kaylee Goncalves and Maddie Mogen, 21, as well as Xana Kernodle and Ethan Chapin, both 20. 

Police quickly said the two incidents were not related.

At the time of the traffic stops, Idaho investigators had publicly said they were looking for a white, 2011 to 2013 Hyundai Elantra with unknown license plates. The Kohbergers were driving a 2015.

Kohberger waived his extradition in Pennsylvania Tuesday and was being transported back to Moscow, Idaho, to face four counts of murder and a charge of burglary with intent to kill.

Fox News’ Sarah Rumpf contributed to this report.

 

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UBS gets it wrong on industrials Honeywell, Emerson. The Club holdings are prepared for a potential recession

US Top News and Analysis 

Wall Street Wednesday turned sour on industrial conglomerates Honeywell (HON) and Emerson Electric (EMR) . We disagree and see an opportunity to grow our positions since both Club names are expected to deliver growth in a potential economic downturn. UBS double-downgraded Honeywell to sell from buy, while reducing the stock’s price target to $193 a share from $220. The bank also downgraded the Club’s newest holding, Emerson Electric, lowering its rating to neutral from buy, while reducing its price target on the stock to $100 a share, down from $118. Both American industrial giants are facing a slowdown in orders and backlog burn that could undermine growth in a potential recession, according to UBS. But Jim Cramer strongly refuted that argument Wednesday. “These are precisely the stocks you need to be in because they are not as cyclical as people think,” Jim said of Honeywell and Emerson during the “Morning Meeting.” “They have worked for ages to be ready for a recession,” he added. Honeywell’s product line includes automation technology, industrial chemicals and airplane engines. Emerson’s offerings run the gamut from software and automation to valves and electrical components. Shares of Honeywell closed down nearly 2% Wednesday, at $210.04 apiece. Emerson finished the day down 0.72%, at $95.42 a share. In a research note, analysts at UBS questioned whether Honeywell’s order growth, which they called a “key driver of industrial equities,” would be robust enough to justify the company’s premium valuation, even if its strong backlog protects earnings in the near term. Similarly, in a separate note, UBS analysts said they anticipated a deceleration in order volumes at Emerson due to gathering economic headwinds, along with pressures from its planned acquisition of metals and mining software firm Micromine through a majority-owned subsidiary, Aspen Technology. Still, the analysts highlighted the company’s automation solutions unit, whose backlog grew 26% between 2019 and 2022, as a revenue stream that could “insulate against a potential slowdown.” Bank of America, conversely, chose Honeywell on Wednesday as its industrial sector pick for 2023 on the basis of quality, cash-flow generation, dividend-growth potential and earnings expectations amid a potential recession. The bank on Tuesday also called out Emerson as a “top idea” for the first quarter, citing potential upside from the Micromine acquisition, as well as a tailwind from a weaker U.S. dollar compared with last year. The Club take Our industrial holdings, Honeywell and Emerson Electric, have seen a positive run lately, outperforming the market — a testament to their strength heading into a deepening slowdown. We recently started a position in Emerson in December on the back of the company’s ability to deploy cash on its balance sheet and execute acquisitions that should ultimately support earnings growth. The company has taken steps to reorganize its portfolio by divesting non-core businesses and investing in strategic acquisitions, while prioritizing its higher margin, faster-growing automation business. It exited a strong 2022, delivering robust free cash flow and sales that can carry over into 2023. EMR stock is up more than 18% over the last 3 months. And we’re prepared to buy, but prefer to wait for a pullback. Honeywell, meanwhile, has a strong aerospace business that is well positioned to benefit from the comeback in travel. China recently ended quarantine for international travelers, a catalyst for many airlines to which Honeywell is a key supplier. We’re keeping an eye on its warehouse automation business, which may show weakness given demand was pulled forward from the Covid-19 pandemic. But, overall, 2023 should be a year focused on margin expansion. HON stock is up roughly 17% over the past 3 months, and we would wait for a pullback to buy more. (Jim Cramer’s Charitable Trust is long HON, EMR. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

An aircraft engine is being tested at Honeywell Aerospace in Phoenix.
Alwyn Scott | Reuters

Wall Street Wednesday turned sour on industrial conglomerates Honeywell (HON) and Emerson Electric (EMR). We disagree and see an opportunity to grow our positions since both Club names are expected to deliver growth in a potential economic downturn.

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China is expanding its Wenchang spaceport to host commercial and crewed moon launches

HELSINKI — China is aiming to expand the use of its coastal Wenchang spaceport to both allow a greater overall launch rate and establish new facilities needed for crewed lunar missions.

The Wenchang Satellite Launch Center was completed in 2014 and has since allowed China to launch its new generation kerolox and cryogenic rockets. These have in turn enabled the country to launch interplanetary and lunar missions and construct and supply its Tiangong space station.

Now though the spaceport is being expanded to additionally facilitate commercial launches and the growth of China’s commercial space sector and, eventually, launch a new-generational crew launch vehicle and the super heavy-lift Long March 9 rocket. 

The development is an apparent part of long term plans for China to upgrade its overall space capabilities.

“In the near future, Wenchang will see its launch frequency go from between six to eight times a year, to 20 or 30 times a year,” Zhong Wen’an, chief engineer of the Xichang Satellite Launch Center which oversees Wenchang Satellite Launch Center, told CCTV Dec. 31.

“This is not only a change in quantity but also one in quality. We are also going to add more sites for [the launch of] human moon-landing missions, heavy rockets and commercial ones.” Zhong said.

The crew launcher is expected to have a test launch around 2026, and a pair of the rockets could support a short-term human lunar landing mission before 2030

The Long March 9 is planned for use in construction of China’s ILRS lunar base plan and other space infrastructure projects, including space-based solar power plans.

More immediately however, progress on the commercial launch site can be seen from both aerial and satellite imagery. Wenchang has already attracted a number of launch and other space-related companies to establish facilities in the area.

China has three inland spaceports at Jiuquan in the northwest, Xichang in the southwest and Taiyuan in north China. Jiuquan has recently been expanded to facilitate both launches of commercial solid rockets and new methane-liquid oxygen rockets

The country has also begun launching from mobile platforms from the Yellow Sea, supported by infrastructure developed near Haiyang, Shandong province.

Wenchang however has a number of advantages, including the lowest latitude of any of China’s spaceports. It is also accessible by sea, allowing large diameter rocket components to be delivered there. 

China’s inland launch sites are limited in the size of rocket they can launch due to a reliance on the national railway system and its capacities. They also create debris issues downrange due to falling spent rocket stages.

China’s largest rockets, the Long March 5 and 5B, launch from Wenchang. These launch vehicles have allowed China to launch its first interplanetary mission, Tianwen-1, a first lunar sample return mission, and launch the roughly 22-ton modules that make up the Tiangong space station.


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Emergency declared as powerful storm threatens floods, outages in Northern California

Politics, Policy, Political News Top Stories 

A powerful storm heading toward California prompted Gov. Gavin Newsom to declare an emergency Wednesday, with large parts of the state expected to face flooding, power outages and hazardous conditions.

The storm was part of what the National Weather Service said was a “bomb cyclone” series of systems that left thousands without power in Northern California and forced the temporary closure of two major highways due to flooding. At least one person was killed.

State authorities stockpiled emergency supplies, urged people to avoid non-essential travel and said the National Guard would be ready to respond if needed. Dangerous conditions were expected for days.

“This is storm one of at least three or four,” said Brayden Murdock, a National Weather Service meteorologist in Monterey. “The forecast looks quite unsettled through the week and into the weekend, even next week.”

Wet winters used to be the norm in California but the state has suffered in recent years through repeated cycles of severe drought, with 2022 the second-driest year in 128 years. Accumulated snow in the Sierra Nevada is at about 174 percent of the average for this time of year but officials said they won’t be able to make determinations about the state’s vast water storage systems until March or April.

The state’s Office of Emergency Services was preparing to respond to mudslides in wildfire-scarred parts of the state that were bone-dry just months ago. Utility companies were warning customers of potentially lengthy outages.

California’s Department of Water Resources said it planned to help farmers reinforce and repair levees that hold back rising rivers. Several broke during the New Year’s Eve weekend, a factor in the flooding that closed a section of Highway 99 in the Central Valley — the state’s agricultural heartland. Drivers were stranded in the rising waters, prompting helicopter rescues and the one reported death.

The still-soggy ground in the Central Valley increased the risk that wind gusts, which were forecast to reach speeds of 50 to 60 miles per hour, would knock over destabilized trees. Forecasters and officials also expected urban flooding. In the San Francisco Bay Area, the city of Richmond recommended the evacuation of about 15 homes in the Seacliff neighborhood because of the potential for mudslides from nearby hills.

The storms underscore the cyclical nature of a disaster-prone state that is highly susceptible to more dramatic weather fluctuations due to climate change, which has doubled the risk of a “megaflood” that could cause catastrophic flooding, according to a paper recently published in Science Advances.

So far, the January storms haven’t differentiated themselves from historical patterns, Mark Anderson, the state climatologist, told reporters. But state scientists are watching for anomalies in the pace of the storms, their size and where they’re falling, he said.

While damage estimates aren’t yet available, local officials are already comparing the rains to those that came in 2017, prompting evacuations of more than 150,000 people below Oroville Dam, one of the state’s largest.

“At this point we would say it’s just as bad,” said county spokeswoman Kim Nava.

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