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Biden says ‘no regrets’ over classified document discovery handling: ‘Nothing there’

President Biden said Thursday he has ‘no regrets’ about his handling of classified documents that were discovered at his home and former Washington, D.C. office. 

The president made the remarks while touring California to assess the damage from a series of recent winter storms that pummeled the state. 

At the conclusion of his speech, a reporter shouted a question about the classified documents. 

‘You know what, quite frankly, bugs me is that we have a serious problem here we’re talking about. We’re talking about what’s going on,’ Biden said, referring to the damage. ‘And the American people don’t’ quite understand why you don’t ask me questions about that.’ 

The president then allowed the question to proceed. The reporter asked Biden whether he had any regrets about not revealing the existence of those documents when they were discovered – less than a week before the November midterms.

‘We found a handful of documents were filed in the wrong place,’ Biden said. ‘We immediately turned them over to the Archives and the Justice Department. We’re fully cooperating and looking forward to getting this resolved quickly.’ 

He added: ‘I think you’re going to find there’s nothing there. I have no regrets. I’m following what the lawyers have told me they want me to do. It’s exactly what we’re doing. There’s no there there.’ 

The White House said Biden attorneys discovered classified documents and official records on four separate occasions — on Nov. 2 at the offices of the Penn Biden Center in Washington, on Dec. 20 in the garage of the president’s Wilmington, Delaware, home, and on Nov. 11 and 12 in the president’s home library.

Biden previously lambasted his predecessor over his possession of such sensitive records. 

‘When you saw the photograph of the top secret documents laid out on the floor at Mar-a-Lago, what did you think to yourself looking at that image?’ CBS’ Scott Pelley asked. 

‘How that could possibly happen, how one anyone could be that irresponsible,’ Biden responded. ‘And I thought what data was in there that may compromise sources and methods. By that, I mean, names of people helped or et cetera.’ 

‘And it’s just totally irresponsible,’ Biden added.

Attorney General Merrick Garland last week appointed Robert Hur, a former Maryland U.S. attorney, to serve as special counsel to oversee the Justice Department’s inquiry into the documents.

Fox News Digital has reached out to the White House for clarification on Biden’s Thursday remarks. 

Fox News’ Joseph A. Wulfsohn contributed to this report. 

Bradford Betz is a Fox News Digital breaking reporter covering crime, political issues, and much more. 

This post appeared first on FOX NEWS
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Stocks

This Stock Is Trending Higher: Why You Should Watch It

If you’ve logged into your Facebook account recently, you may have noticed a bunch of targeted reels. No, it’s not TikTok. This just shows that Meta Platforms (META), parent company of Facebook, is rolling up its sleeves and getting aggressive in the advertising space. META has lost some of its competitive edge in the ad space, especially with the rise of larger players such as Amazon (AMZN) and Apple (AAPL), plus other short reel video platforms. But it’s still got a big player with a large user base.

META’s last earnings report was pretty dismal, sending its stock gapping lower to a level the stock hasn’t seen since 2016. The company also announced job cuts and a major slowdown in ad spend. And let’s not forget the huge—we’re talking tens of billions of dollars—investment in the metaverse, which hasn’t shown any profits yet.

These factors didn’t go down well with META investors. But since reaching a low of around $88 last November, the stock has started to show some signs of recovery (see chart below). So far, in 2023, the stock price has been up around 13%. Last year was rough for META, as it was with other large-cap growth stocks. So a recovery, even if it’s slight, can be an encouraging sign. The big question is, will the recovery sustain? If it does, it could help the other players in the same space.

CHART 1: IS META A BUY? It may be too soon to tell, but after being beaten down so badly, it is starting to show signs of recovery. Earnings are coming up, which is likely to impact the stock’s price. Add to your ChartLists and watch patiently.Chart source: StockChartsACP. For illustrative purposes only.

What Has META’s Chart Got Going For It?

The 50-day moving average (MA) is trending higher and approaching the 100-day MA. When the 50-day MA crosses above the 100-day MA, you get a golden cross, which is generally an indication of a bullish move.The relative strength index (RSI) is approaching its overbought zone (upper sub chart). Watch for it to cross above it; if it sustains that level, that might mean the rally could continue, at least for some time. META’s relative performance against the S&P 500 index is hovering around the zero line. If the RS line (lower sub chart) starts to turn up and go higher, it would be another indication of the stock’s strength.

META is expected to report earnings on February 1, 2023. It’ll be interesting to hear if there’s any mention of what ad spending is likely to be in Q1 2023. Even the slightest sign of recovery is likely to give the stock price a boost.

It’s still too early to determine if the stock is a buy but it’s worth adding to your ChartLists. The stock price could go either way depending on its earnings report. As always, tread carefully, and if you do decide to add long META positions to your portfolio, think about how much risk you’re willing to take and place your stops accordingly.

Jayanthi Gopalakrishnan

Director, Site Content

StockCharts.com

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

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Business

Amazon discontinues charity donation program amid cost cuts

Amazon said Wednesday it plans to shut down its charity donation program, in the latest example of the company’s broader cost-cutting efforts.

Through the program, called AmazonSmile, the e-retailer donates a percentage of eligible purchases on the site to the shopper’s chosen charity organization. Amazon said it has donated roughly $500 million to charities since the program launched in 2013.

Amazon now plans to wind down AmazonSmile by Feb. 20, the company said in a notice to customers posted to its website.

“After almost a decade, the program has not grown to create the impact that we had originally hoped,” the company said. “With so many eligible organizations — more than 1 million globally — our ability to have an impact was often spread too thin.”

The average donation to charities was less than $230, Amazon said.

Amazon will continue to invest in areas where it can “make meaningful change,” such as assisting with natural disaster relief, affordable housing initiatives and community assistance programs, the company said.

The move to shutter AmazonSmile comes as CEO Andy Jassy has embarked on a sweeping review of the company’s expenses amid a worsening economic outlook and slowing growth in its retail division.

More from CNBC

Jamie Dimon says Congress shouldn’t play games with the creditworthiness of the U.S. governmentU.S. weekly jobless claims unexpectedly fallTennis Channel will air Major League Pickleball tournament matches, deepening broadcast partnership

Amazon has commenced the largest layoffs in its history and instituted a hiring freeze across its corporate workforce. As Jassy has worked to rein in costs, the company paused warehouse expansion and shuttered some experimental projects like its telehealth service and a quirky, video calling device for kids

This post appeared first on NBC NEWS
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Business

Fed policymakers call for further rate hikes to beat inflation

Federal Reserve policymakers on Wednesday signaled they will push on with more interest rate hikes, with several supporting a top policy rate of at least 5% even as inflation shows signs of having peaked and economic activity is slowing.

“I just think we need to keep going, and we’ll discuss at the meeting how much to do,” Cleveland Fed President Loretta Mester said in an interview with the Associated Press.

The remarks appeared to reflect a widely shared view among her fellow policymakers, most of whom as of December had penciled in a 5.00%-5.25% policy rate in coming months.

Mester said that for her part she expects the Fed’s policy rate to need to go “a bit higher” than that, and stay there for some time to further slow inflation.

The Fed’s benchmark overnight lending rate currently sits in a target range of 4.25% to 4.50%, and investors expect the Fed to lift that rate by a quarter of a percentage point at the end of its Jan. 31-Feb. 1 meeting.

But slowing spending, inflation, and manufacturing — all reported earlier on Wednesday — have helped stoke expectations that the Fed will end its current round of rate hikes sooner than Mester and most of her colleagues expect, with the policy rate just shy of 5%.

The central bank began raising borrowing costs last March, when the policy rate was in the 0%-0.25% range and inflation was starting to make a climb that would see it rise to 40-year highs, several times the Fed’s 2% target.

‘Why stall?’

Like Mester, St. Louis Fed President James Bullard, speaking with the Wall Street Journal earlier, said he too sees the policy rate rising to the 5.25%-5.50% range, and added that policymakers should get it above 5% “as quickly as we can.”

Several Fed officials have expressed support for slowing to quarter-percentage-point rate increases, after last year’s much faster pace of rate hikes in mostly 75-basis point and half-point increments.

Bullard expressed more impatience. Asked if he was open to a half-percentage-point increase at the Fed’s upcoming meeting, he asked “why not go to where we’re supposed to go? … Why stall?”

The answer may in part be found in the latest “Beige Book” report published by the Fed on Wednesday. The compilation of survey data from the central bank’s districts around the country showed that while prices continued to increase, the pace in most districts was reported to have slowed.

And while employment continued to grow at a “modest to moderate” pace in much of the country, and several Fed districts reported modest economic growth, the New York Fed reported a contraction in activity, four other districts reported slowdowns or slight declines, and most expected little growth ahead.

Still, Fed policymakers say the mistake they do not want to make is to stop short of defeating inflation, only to have to raise rates even more to do the job later on, as happened in the 1970s and 1980s

Even Philadelphia Fed President Patrick Harker, who is generally less hawkish than Mester or Bullard and wants the Fed to switch to quarter-percentage-point hikes ahead, sees “a few more” rises in borrowing costs before a pause.

Dallas Fed President Lorie Logan also supports a slower rate hike pace ahead because of the uncertain outlook and the need to be flexible. But she also signaled the Fed may need to raise rates higher than is widely expected to keep financial conditions tight enough to press down on inflation.

“I believe we shouldn’t lock in on a peak interest rate,” Logan said in Austin, Texas. She added that even once inflation is headed convincingly down to 2% and the Fed does stop raising rates, the risks will be “two-sided” and that further rate hikes could be in the offing.

In an interview with Reuters on Wednesday, outgoing Kansas City Fed President Esther George said she felt rates would have to move higher than many of her colleagues anticipate, but that she also would have been willing to move in smaller increments.

“People’s expectations about inflation are beginning to move down,” George said, an observation based on conversations with contacts in her Midwest district. “So I’m comfortable beginning that stepped-down process … I’d be happy to do 25s if I were there.”

George will retire right before the Fed’s next meeting and will not participate in it.

But she added, “we still have upside risk to inflation. I don’t think I’ve reached a point where I think it is clearly falling. There are enough issues out there to say we have to guard against them.”

Fed Chair Jerome Powell, who tested positive for COVID-19 on Wednesday and is experiencing mild symptoms from the virus, said after last month’s policy meeting that the inflation battle had not been won and that more rate hikes were coming in 2023.

This post appeared first on NBC NEWS
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Business

Netflix founder Reed Hastings is giving up CEO role

Netflix’s Reed Hastings is giving up his CEO role but will remain on as chairman, the company announced along side its earnings report Thursday.

Co-CEO Ted Sarandos will remain in his position. Greg Peters, most recently Chief Operating Officer, will assume the post of co-CEO in Hastings’ place. Peters will also join the company’s board.

“I want to thank Reed for his visionary leadership, mentorship and friendship over the last 20 years. We’ve all learned so much from his intellectual rigor, honesty and willingness to take big bets — and we look forward to working with him for many more years to come,” said Sarandos in a written statement.

Hastings co-founded Netflix in 1997. Sarandos was promoted to co-CEO alongside Hastings in July 2020, the same time that Peters was appointed to his COO role.

Hastings tweeted on Thursday that he plans to stay on as executive chairman “for many years to come.” He leaves the helm as the company attempts a variety of pivots to boost subscribers and rebound after its business sagged in recent quarters.

Hastings wrote in a blog post on Thursday that period of the past two and a half years “was a baptism by fire, given COVID and recent challenges within our business.”

The executive shakeup will also see Bela Bajaria, who served as the company’s global head of television, step in as chief content officer. Scott Stuber, who was previously the head of global film, will step in as chairman of Netflix Film.

The succession announcement comes alongside the company’s fourth-quarter earnings report. The streaming company matched Wall Street’s revenue expectations and posted millions more subscriber adds than anticipated.

The succession announcement comes alongside the company’s fourth-quarter earnings report.

This post appeared first on NBC NEWS
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Sports

Cowboys add kicker after Brett Maher’s four missed extra points

The Dallas Cowboys signed kicker Tristan Vizcaino to their practice squad ahead of Sunday’s NFC divisional round matchup against the San Francisco 49ers.

Vizcaino adds depth to the position after veteran kicker Brett Maher missed four extra-point attempts during the Cowboys’ 31-14 victory against the Tampa Bay Buccaneers.

The Cowboys plan to stick with Maher against the 49ers, but Vizcaino is a nice insurance policy given he has made 91.7% of his career field goals.

By comparison, Maher made 90.6% of his field goals this season. His struggles in the wild-card game still raised concerns and prompted the Cowboys to make a move.

RELATED: Brett Maher proves #KickersArePeopleToo in cringeworthy performance

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‘We need Brett. He understands that. We need to get back on it this week and get him ready to go,’ Cowboys coach Mike McCarthy told reporters via ESPN. ‘Obviously we’re kicking at an outdoor stadium out there in Santa Clara. But you know, yeah, he’s disappointed.’

It remains to be seen if Vizcaino will be active Sunday. NFL rules stipulate that teams can elevate two practice squad players on game day. The Cowboys would have to add Vizcaino to the active 53-man roster.

NFL teams rarely carry two kickers during the regular season. The magnitude of the upcoming playoff matchup against the 49ers could sway the Cowboys to reverse course.

Vizcaino has appeared in NFL games this season with the Arizona Cardinals and New England Patriots. He handled kicking duties for the Cardinals in Week 10, making two field goals and three extra points in the appearance. Vizcaino also handled kickoff duties with the Patriots for two games in December.

Vizcaino has played with four teams since 2020, and his career-long field goal is 47 yards.

Vizcaino’s career began with the 49ers before playing with the Los Angeles Chargers in 2021. That season, Vizcaino played in six games and converted 10 of 15 extra-point attempts. He finished the campaign on the Chargers practice squad.

Maher will get a chance at redemption against the 49ers on Sunday. He had a strong 2022 season that included 137 points scored. It was the most points by a Cowboys kicker in franchise history.

‘We need him,’ McCarthy said. ‘We need him to focus in. He’s been super clutch for us all year.’

This post appeared first on USA TODAY
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Sports

Usain Bolt is missing $12.7M from account, attorneys say

SAN JUAN, Puerto Rico — Lawyers for Usain Bolt, one of the world’s greatest sprinters, said Wednesday that more than $12.7 million is missing from his account with a private investment firm in Jamaica that authorities are investigating.

Attorney Linton P. Gordon provided The Associated Press with a copy of a letter sent to Stocks & Securities Limited demanding that the money be returned.

Gordon said Bolt’s account once had $12.8 million but now reflects a balance of only $12,000.

‘If this is correct, and we are hoping it is not, then a serious act of fraud larceny or a combination of both have been committed against our client,’ Bolt’s attorneys say in the letter.

They threaten civil and criminal action if the money is not returned within 10 days.

Stocks & Securities Limited did not immediately respond to a request for comment. On its website, the company asked that clients direct all urgent queries to Jamaica’s Financial Services Commission, which is investigating the firm.

‘We understand that clients are anxious to receive more information and assure you that we are closely monitoring the matter throughout all the required steps and will alert our clients of the resolution as soon as that information is available,’ the company said.

The company has said that it discovered the fraud earlier this month and that several of its clients may be missing millions of dollars.

Jamaica’s finance minister, Nigel Clarke, called the situation alarming but noted it was unusual.

‘It is tempting to doubt our financial institutions, but I would ask that we don’t paint an entire hard working industry with the brush of a few very dishonest individuals,’ he said.

Bolt’s lawyers sent the letter Monday, the same day that Jamaica’s Financial Services Commission announced it was appointing a special auditor to look into fraud allegations at Stocks & Securities Limited, which is based in the capital of Kingston.

On Tuesday, financial authorities said they were assuming temporary management of the private investment firm. It is allowed to keep operating but needs approval from the government for any transactions.

Bolt, who retired in 2017, holds the world records for the 100 meters, 200 meters and 4×100 meters.

This post appeared first on USA TODAY
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Sports

LIV Golf reaches historic TV partnership with CW Network

LIV Golf, ahead of its second season, made history Thursday. 

The Saudi-backed league and CW Network announced an agreement on an exclusive multiyear exclusive television contract, starting with the 2023 season. It becomes the first television broadcast agreement for LIV Golf, which last season was limited to digital streaming on its official website and on YouTube.

As part of the agreement, of which financial terms were not disclosed, viewers can also watch the matches on the CW app. The network will televise 14 events for the second LIV season. The first rounds of the 2023 schedule will not air on live television, per the announcement, but will instead be available for streaming on the app. The second and third rounds will be broadcast on live TV and on the app on Saturdays and Sundays.

Here’s everything you need to know about the arrangement.

What is CW?

The CW Network is an American television network that is majority-owned by Nexstar Media Group, holding 75% of the share. The network offers various sports and entertainment options.

‘For The CW, our partnership with LIV Golf marks a significant milestone in our goal to re-engineer the network with quality, diversified programming for our viewers, advertisers and CW affiliates,’ Dennis Miller, president of the network, said Thursday in a statement. ‘This also marks the first time in The CW’s 17-year history that the network is the exclusive broadcast home for live mainstream sports.’

The CW broadcast team for LIV Golf events will include Arlo White (play-by-play), David Feherty and Jerry Foltz (in-booth analysts) and Dom Boulet, Su-Ann Heng, and Troy Mullins (on-course coverage and feature reporting).

Why was a TV contract important for LIV Golf?

Since its inception, the executives at LIV Golf have sought an exclusive television deal with an American network as a key element in its growth strategy. LIV Golf is continuing to compete with the PGA Tour and has been seeking to cut into the long-established golf league’s market share.

‘This is a momentous day for LIV Golf as this partnership is about more than just media rights,’ LIV Golf CEO and commissioner Greg Norman said in a statement. ‘The CW’s nationwide reach as America’s fifth broadcast network, will provide accessibility for our fans and maximum exposure for our athletes and partners.’

Last season, Golfweek reported that LIV Golf was close to an agreement in which it would have paid Fox Sports for airtime on its affiliate network, Fox Sports 1. 

What is the LIV Golf schedule?

The full schedule for the 2023 LIV Golf season, which will include 14 tournaments, is yet to be announced, though several dates are already set. The current schedule is as follows:

Feb. 24-26 

Mayakoba’s El Camaleón (Mexico)

March 17-19

The Gallery Golf Club (Tucson, Arizona)

April 21-23

The Grange Golf Club (Adelaide, Australia)

April 28-30

The Serapong at Sentosa Golf Club (Singapore)

May 12-14

Cedar Ridge Country Club (Tulsa, Oklahoma)

June 30-July 2

Real Club Valderrama (Spain)

Aug. 4-6

The Greenbrier (White Sulphur Springs, West Virginia)

Which golfers are scheduled to play in LIV Golf in 2023?

Among the players scheduled to participate in the 2023 LIV Golf Invitational Series are:

Phil Mickelson

Brooks Koepka

Dustin Johnson

Bryson DeChambeau

Sergio García

Cam Smith

Bubba Watson

Louis Oosthuizen

Ian Poulter

Martin Kaymer

Lee Westwood

Patrick Reed

Charl Schwartzel

Talor Gooch

Why is LIV Golf so controversial?

The Public Investment Fund (PIF), the sovereign wealth investment fund of Saudi Arabia and one of the largest in the world, has backed and is financing LIV Golf Investments, the parent company of LIV Golf. As the crown prince of Saudi Arabia, Mohammed bin Salman is the head of the PIF. According to a declassified U.S. intelligence report released in February 2021, Salman approved an operation ‘to capture or kill’ Washington Post columnist Jamal Khashoggi inside a Saudi consulate in Istanbul on Oct. 2, 2018.

The Saudi government is accused of other human rights violations and has invested in Western athletic opportunities in an apparent attempt to improve its image, a practice known as ‘sportswashing.’

This post appeared first on USA TODAY
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Sports

Tampa Bay Buccaneers fire offensive coordinator Byron Leftwich

Byron Leftwich’s time in Tampa Bay is over.

The Tampa Bay Buccaneers fired the offensive coordinator after four seasons, the team announced. The team said it was letting go of six total assistants, and three others decided to retire.

Leftwich is just a couple years removed from serving as Tampa Bay’s offensive coordinator when the franchise won Super Bowl 56. However, the Bucs have regressed since winning the Super Bowl on Feb. 7, 2021.

The Bucs finished 13-4 in the 2021 season but were bounced out of the playoffs by the eventual Super Bowl champion Los Angeles Rams in the divisional round. Then this year, things got progressively worse.

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Veteran quarterback Tom Brady briefly retired, before changing course, and center Ryan Jensen injured his knee days into training camp. When the regular season started, the Bucs offense was lethargic and it continued throughout the 18-week schedule.

The Bucs offense finished 15th in total offense, 25th in points and last in the NFL in rushing.

Despite their struggles on offensive side of the football, Tampa Bay won the NFC South with an 8-9 record. They were the only team to enter this year’s playoffs below .500.

Tampa Bay’s playoff journey was short lived. The Bucs lost to the Dallas Cowboys in a 31-14 rout in the wild-card round. Tampa Bay’s offense failed to score in the first half versus the Cowboys. 

The Bucs wild-card loss to Dallas was ultimately Leftwich’s final game as offensive coordinator in Tampa Bay.

Leftwich will likely get interest from other clubs searching for an offensive coordinator. He’s also been a head coaching candidate in the past. 

The Bucs will now search for a new coordinator, and at the same time await Brady’s decision on if he’s going to retire, comeback to Tampa Bay or opt for employment elsewhere.

Follow USA TODAY Sports’ Tyler Dragon on Twitter @TheTylerDragon.

This post appeared first on USA TODAY
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Sports

Dolphins fire four defensive assistants, including coordinator

Miami Dolphins coach Mike McDaniel will be making several new hires to his defensive coaching staff this offseason.

The Dolphins announced several changes to their coaching staff Thursday, including the firing of defensive coordinator Josh Boyer, who had been retained after Miami hired McDaniel last offseason.  

“I am grateful for Josh’s contributions this year and throughout his tenure with the Dolphins,” McDaniel said in a statement. “The defense made strides through the season, so coming to this decision was not easy, but ultimately I feel it is in the best long-term interests of the Miami Dolphins and the continued growth of our players and team.”

Safeties coach Steve Gregory, outside linebackers coach Ty McKenzie and assistant linebackers coach Steve Ferentz were also fired by the team.

Follow every game: Latest NFL Scores and Schedules

The Dolphins defense finished near the bottom of the league in several statistical categories like turnovers forced (30th out of 32), passing defense (27th), third-down defense (24th) and points per game allowed (24th).

Miami also dealt with significant injuries that created lineup issues during their first postseason trip since 2017 and just their third in 20 seasons.

Starting defensive end Emmanuel Ogbah (biceps), safety Brandon Jones (ACL), nickel cornerback Nik Needham (Achilles) all suffered season-ending injuries, while cornerback Bryon Jones (Achilles) missed the entire season.

Still, the Dolphins defense had several standouts this season, including Pro Bowl cornerback Xavien Howard and defensive tackle Christian Wilkins, whose 98 tackles this season were the most for any NFL defensive lineman since 1994.

Emerging second-year defensive end Jaelan Phillips led the team with seven sacks, while second-year safety Jevon Holland led with two interceptions and 77 solo tackles.

Miami also signed defensive end Bradley Chubb to a five-year, $110 million extension after acquiring him from the Denver Broncos at the trade deadline last November.

The Dolphins finished 9-8 in the regular season, after an 8-3 start, and their season ended with a wild-card playoff loss to the Buffalo Bills last week under McDaniel’s first season as coach.

This post appeared first on USA TODAY
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