Biden Blocks & Court Eases

Heyo, reader! We hope you’re having a good Thursday morning!

2️⃣ This Morning’s Two Reports:

• 🔨 Biden's Blocking Japanese Merger

• ⚖️ Supreme Court on Workplace Discrimination

📊 Market Snapshot

• DOW: 🔽 0.12% (37,753.31)

• S&P 500: 🔽 0.58% (5,022.21)

• NASDAQ: 🔽 1.15% (15,683.37)

• BTC: 🔽 3.79% (61,288.10)

• ETH: 🔽 3.25% (2,982.19)

📎 Market Clips

• Oil prices fall as worries over demand surpass fears of Middle East supply issues

• European stocks end higher despite unsettling remarks from the Fed shaking global markets

_{*Stock numbers as of market close, cryptocurrency as of 7:35pm EST yesterday. Source for Market Clips.}

First Report

🔨 Biden's Blocking Japanese Merger

In a robust address to steelworkers in Pittsburgh, President Joe Biden announced his administration's plan to prevent the acquisition of U.S. Steel by a Japanese firm, coupled with a call to triple tariffs on Chinese steel. This strategic shift aims to fortify American manufacturing against cheap imports and assert U.S. dominance in steel production. Biden's initiatives, which include maintaining U.S. Steel's American roots and boosting tariffs to 25%, align with broader efforts to safeguard national interests and labor in the face of global trade challenges. 🏛️🏗️

TL;DR ⏳: Biden pledges to keep U.S. Steel American and toughens stance on Chinese imports to protect U.S. jobs.

Second Report

⚖️ Supreme Court on Workplace Discrimination

The Supreme Court, in a unanimous decision, has significantly lowered the threshold for workers to bring forward employment discrimination claims. This ruling came in support of Jatonya Clayborn Muldrow, a female police sergeant in St. Louis who argued her reassignment to a less prestigious role was due to her gender. Previously, workers had to prove that such reassignments caused "significant disadvantage," but now, they only need to demonstrate "some harm." This change could potentially widen the scope for discrimination claims in various workplaces across the nation. 👩‍⚖️📄

TL;DR ⏳: The Supreme Court now allows discrimination claims with only 'some harm' shown, easing the legal battles for affected workers.

⚡ Quick Hits

1. 📜 Senate dismisses impeachment charges against Alejandro Mayorkas

2. 🏫 Columbia president faces harsh criticism during tense antisemitism Congress hearing

3. 🐘 Spooked circus elephant wanders Montana streets before recapture

4. 🚫 Lawmakers reject proposal to debate Arizona bill that would repeal abortion ban

5. 🚨 Google employees detained following nine-hour protest in cloud chief's office

6. 🛢 US reinstates oil sanctions on Venezuela due to unfulfilled election promises

7. 🚀 Hezbollah fires missiles and drones at northern Israel

8. 🌋 11,000 told to evacuate as volcanic eruptions and tsunami warnings affect Indonesian island

9. 🗳 Union voting begins at Volkswagen's sole US plant

10. 🚗 Tesla attempts to restore Musk’s $47 billion compensation package following judicial rejection

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