Business

Study shows growing ocean damage as protection bills languish
Finds most ocean acidification, which harms marine life and coastal economies, has been triggered by 88 companies, including Exxon Mobil

A slide shows growing acidification of the world’s oceans during a presentation of data at a climate conference in Spain earlier this month.  (Photo by Sean Gallup/Getty Images)

As lawmakers push legislation to protect the nation’s coastal waters, scientists are placing much of the blame for degrading ocean conditions on emissions from large energy companies including Exxon Mobil Corp., which was cleared Tuesday in a long-running climate court case.

A study published Wednesday in the scientific journal Environmental Research Letters found that carbon emissions from the largest energy and cement companies are responsible for more than half of a damaging side effect: increasing acidity in the planet’s oceans, which harms marine life and coastal economies.

FAA review predicted fatalities after first Boeing 737 Max crash
The review predicted at least 15 more 737 Max crashes over the lifetime of the 4,800 jets in service. Another came within months.

Boeing 737 MAX airplanes stored on employee parking lots near the company's plant near Seattle, Wash. (Stephen Brashear/Getty Images)

 

About a month after a Boeing 737 Max plunged into the Java Sea, killing 189 people in October 2018, the FAA privately conducted a grim analysis that predicted more fatal crashes for the aircraft, according to a report released at a House hearing Wednesday.

House urges Supreme Court to enforce subpoenas for Trump’s financial records
Delay in subpoenas would be deprive Congress information it needs to secure elections, court filing says

People walk by the New York headquarters for Deutsche Bank in New York earlier this year. President Donald Trump is trying to keep Deutsche Bank and Capital One from acting on congressional subpoenas over his financial records. (Spencer Platt/Getty Images file photo)

The House cited 2020 election security concerns Wednesday when it urged the Supreme Court not to delay the enforcement of congressional subpoenas for financial records of President Donald Trump and his business from Deutsche Bank and Capital One Financial Corporation.

Any harm to Trump for allowing the enforcement of the House Financial Services and Intelligence committees would be less severe than Congress not getting information it needs to protect the elections from foreign influence, House attorneys argued in a Supreme Court filing.

Impeachment news roundup: Dec. 11
Judiciary Committee to take up articles tonight, vote expected Thursday

Speaker Nancy Pelosi makes her way to a news conference in the Capitol on Tuesday to announce articles of impeachment against President Donald Trump with committee chairs who helped draft them. (Tom Williams/CQ Roll Call)

The House Judiciary Committee began marking up articles of impeachment against President Donald Trump on Wednesday evening and is expected to vote on them Thursday.

In his opening statement, Judiciary Chairman Jerrold Nadler addressed why impeaching Trump was warranted when a presidential election is less than a year away. 

Elizabeth Warren’s big bad idea: Taxing our way to prosperity
As Democrats peddle unproven economic theories, Republicans have a clear opening

As Democrats like Sen. Elizabeth Warren peddle unproven economic theories, Republicans have a clear opening to tout the free-market principles that are making our economy work, Winston writes. (Caroline Brehman/CQ Roll Call file photo)

OPINION — Last week, a New York Times headline caught my eye. “Could tax increases speed up the economy? Democrats say yes.” The story, written by Jim Tankersley, explained that Elizabeth Warren is “leading a liberal rebellion” against the “long-held economic view that large tax increases slow economic growth.”

Given the miserable track record of redistribution politics as economic theory and the strength of today’s free-market economy, I had to read on. Was this a case of economic illiteracy on the part of Warren and her fellow quasi-socialists who seem to be driving the Democratic debate? Or was this latest fascination with redistribution of wealth a focus group-tested battle cry for the base? Or maybe this was just the latest iteration of Democrats’ failed economic theories last seen in 2010 when Joe Biden promised a recession-weary America a “summer of recovery” that didn’t happen.

Trade deal sparks divisions in K Street
Phramaceutical lobby says changes put 'politics over patients'

K Street has widely welcomed the revamped U.S. trade pact with Canada and Mexico, but some sectors have blasted changes that congressional Democrats negotiated with the administration. (Bill Clark/CQ Roll Call file photo)

One of K Street’s top priorities, a revamped U.S. trade pact with Canada and Mexico, took a major step forward Tuesday, but not all sectors embraced the deal — potentially pitting big-spending organizations against one another.

Odd allies, including the labor group AFL-CIO and the business lobby U.S. Chamber of Commerce, offered support for a redo of the North American Free Trade Agreement, something that President Donald Trump initiated after pledging on the 2016 campaign trail he would replace the 1994 deal.

Trump thumbs nose at impeachment, Dems by hosting Putin’s top diplomat
Russia expert on Oval meeting: ‘It could either enable or obstruct progress on Ukraine’

Speaker Nancy Pelosi, D-Calif., speaks during a news conference to unveil articles of impeachment against President Donald Trump on abuse of power and obstruction of Congress on Tuesday. (Caroline Brehman/CQ Roll Call)

As President Donald Trump live-tweeted his reaction to House Democrats’ impeachment articles, his spokeswoman vowed he would “continue to work on behalf of this country.” Hours later, that business included huddling privately with Vladimir Putin’s top diplomat in the Oval Office.

Trump essentially thumbed his nose at Democrats as they continued linking his July 25 telephone conversation with Ukraine’s president to an alleged affinity for Russia’s as he hosted Sergey Lavrov, Putin’s minister of foreign affairs. If Lavrov steps foot in the Oval Office, it’s a safe bet there is a controversy nearby.

McConnell warns of need for cooperation to complete Christmas wish list
There already may not be enough time if senators object to defense policy, spending measures

There is a backlog of legislation to move before Christmas. (Caroline Brehman/CQ Roll Call file photo)

The clock is ticking toward Christmas, and in one of the longest-lasting holiday traditions, a Senate majority leader is warning that without bipartisan cooperation there won’t be enough time to get all the work done before the holidays.

Senate Majority Leader Mitch McConnell opened Tuesday’s session with the 2019 version of the regular holiday warning.

Watch: Democrats charge Trump with abuse of power, obstruction of Congress

Judiciary Committee Chairman Jerrold Nadler and House Democrats announce Tuesday they are charging President Donald Trump with abuse of power and obstruction of Congress. (Thomas McKinless/CQ Roll Call)

Democratic leaders announced Tuesday morning they are introducing two articles of impeachment, charging President Donald Trump with abuse of office and obstruction of Congress.

Regulators warn about fraudsters creating synthetic borrowers
Information cobbled together from multiple people used to make fake identities, establish credit

The Federal Reserve has issued warnings about synthetic identity fraud and is expected to release a report in early 2020 outlining ways that financial companies can mitigate the problem. (Caroline Brehman/CQ Roll Call file photo)

The financial technology industry that’s upending consumer finance could be the solution to a kind of identity fraud that’s dogging traditional banks and fintech companies alike.

It’s called synthetic identity fraud, where instead of stealing one person’s information, criminals synthesize a false identity using information from many people — usually those unlikely to monitor their credit, like children, the elderly, prisoners or the homeless. Fraudsters then establish a credit history for the fake person over time until they can trick banks or financial technology companies into lending them money.