After months of bitter partisan wrangling, the Senate has passed a $95 billion emergency foreign aid package, including $47.7 billion for Ukraine and $15 billion for Israel. The aid package also includes provisions to deter Chinese aggression and force TikTok’s Chinese owner to divest from the popular app. The package now goes to President Biden for his signature.
President Biden has secured victory in the Pennsylvania Democratic primary, adding as many as 159 delegates to his tally. However, the incumbent faced a protest vote due to frustrations over his handling of the Israel-Hamas conflict. Meanwhile, Donald Trump is set to win the Republican primary in Pennsylvania. Polls indicate a close race between Biden and Trump, who face a rematch of their 2020 showdown. Pennsylvania also holds significant contests for Senate and House seats, playing a crucial role in shaping the political landscape for 2023.
President Joe Biden will deliver the commencement speech at Morehouse College, Georgia, but faces potential protests over his support for Israel. Despite the invitation being extended in September, before the recent Israel-Hamas conflict, some faculty and alumni have expressed disapproval. Biden’s pro-Israel stance contradicts the pacifism advocated by Morehouse’s alumnus, Martin Luther King Jr. The controversy threatens to overshadow policy priorities highlighted by the Biden administration on Historically Black College and University (HBCU) campuses.
The visit marks Biden’s second consecutive spring address to an HBCU graduating class, following his speech at Howard University in 2023.
Biden’s standing among Black Americans has declined since his inauguration, and the Israel issue has led to protests from progressives. The upcoming election may hinge on his support in battleground states like Georgia, where Trump lost by a narrow margin.
The Biden administration has finalized a new federal rule that will expand overtime protections to millions of workers who are currently excluded under current law. The Labor Department’s regulation will ensure that salaried workers who earn less than $58,656 per year will automatically be entitled to overtime pay when they work more than 40 hours in a week, starting in 2025. The “overtime salary threshold” would then be updated every three years, starting in 2027, to account for inflation.
The Biden administration has been courting TikTok influencers while simultaneously pursuing a ban on the platform due to national security concerns. The White House has hosted several prominent TikTok users, including Oneya Johnson, who has over 27 million followers. These meetings were coordinated by Morgan MacNaughton, who has a background with TikTok and has helped establish relationships between the Biden campaign and the platform. The move has raised concerns about hypocrisy, especially among supporters of the president who fear a ban could hurt their outreach to young voters.
Former President Donald Trump’s early lead over President Joe Biden has dwindled in the past two months due to his ongoing trials in Manhattan. Several recent polls indicate that Biden would prevail over Trump in a November election. A Marist poll shows Biden leading 51% to 48% in a two-way race, and his lead widens to five points with the inclusion of third-party candidates. NBC and Morning Consult polls also show Biden with a narrow lead over Trump. Biden’s campaign schedule and fundraising efforts have contributed to his polling boost, while Trump has been preoccupied with his legal cases and has held fewer public events.
The Trump campaign’s efforts to elevate Robert F. Kennedy Jr. to harm Biden’s chances are backfiring, with Kennedy potentially eroding Trump’s support base instead. Kennedy, a former Democrat, has embraced conspiracy theories and has appealed to some Trump supporters. His independent candidacy complicates the 2024 electoral dynamics, showcasing how even allies of the former president can pose unexpected challenges.
In the realm of cryptocurrency, Bitcoin ETFs have experienced a significant net inflow of $35 million on their first post-halving trading day. Ark Invest predicts a remarkable potential rally for Bitcoin, projecting a surge of over 3,000% within the next 12 months. Standard Chartered analysts anticipate Bitcoin’s value to double to $150,000 by year-end. Meanwhile, crypto analysts foresee a rise in Bitcoin’s value post-halving. Turning to politics, Biden has convened a meeting withAOC, Sanders, and other lawmakers amid disputes over Israel policy. Trump allegedly breached a gag order multiple times, raising questions about potential leniency from the judge in contempt charges. Trump has reversed his stance on TikTok, accusing Biden of favoring Meta. In economic news, Calix reports mixed results, joining other major stocks in a downward trend. Investor optimism shows improvement, but the Fear & Greed Index remains in the ‘Fear’ zone. Analysts highlight General Motors, Tesla, and three other stocks to watch. The EU warns China over Russia ties and trade imbalance, emphasizing the need for self-assertion. Nvidia’s high-end chips find their way into Chinese hands despite US restrictions. Home equity investments emerge as a growing asset class, surpassing $32 trillion in the US market. In the world of technology, Microsoft unveils a new AI model rivaling GPT-3.5, while Apple plans to make Quest OS the Android of mixed reality. Apple and Nvidia’s chip supplier face ongoing stock woes. Soccer broadcasting rights become a target for Apple after the success of Major League Soccer rights. Microsoft strengthens its AI capabilities with the acquisition of a former Meta executive. Tesla CEO Musk criticizes Waymo, suggesting Cybertruck’s potential for robotaxis amid vandalism concerns. Analysts express cautious optimism about Tesla’s Q1 earnings, seeking answers about robotaxis and Model 2. Adient, a seating maker, plans to cut jobs in Europe. Telecommunications company Calix faces a downturn, while ‘China’s Netflix’ targets the aging population with AI content. Analyst predicts TikTok’s shutdown in the US ahead of a Senate vote. LGBT dating app Grindr faces legal action for allegedly disclosing users’ HIV status. Boeing anticipates slower 787 production due to supplier shortages, but it will deliver Q1 earnings despite the ongoing air safety scandal. UBS Group considers westward expansion with a new office in Menlo Park. Visa’s Q2 earnings are expected to rise, based on recent analyst forecasts. California achieves a milestone in energy storage, surpassing gas and renewables for the first time. Musk labels Social Security as a Ponzi scheme, while SpaceX’s injury rates remain a concern.
President Biden has announced new restrictions on drilling and mining in the Arctic National Wildlife Refuge in Alaska. The move is a major victory for environmentalists, who have long fought to protect the pristine area.
President Biden quipped that it is “classified” whether his “Dark Brandon” alter ego played a role in Rep. Lauren Boebert’s (R-Colo.) decision to leave her district after facing a tough reelection race.
Boebert, who was previously considered a safe Republican incumbent, ended up winning her race by only a narrow margin. She then announced that she would be running for a different seat in a more conservative district, a move that some have found puzzling.
Biden’s joke suggests that he may have had something to do with Boebert’s decision, but the president did not provide any further details. The comment was made during a meeting with progressive news outlet MeidasTouch Network, which has been critical of Boebert in the past.
