.By Mary Clare Jalonick and Eric Tucker
Sen. Richard Burr, R-N.C., stepped aside as chairman of the Senate Intelligence Committee on Thursday after the FBI served a search warrant for his phone as part of an ongoing insider-trading investigation tied to the coronavirus pandemic.
Senate Majority Leader Mitch McConnell announced the move, saying he and Burr had agreed it was in the Senate's best interests.
FBI officials showed up at Burr's home with the warrant on Wednesday, marking a significant escalation into the Justice Department's investigation into whether Burr broke the law with a well-timed sale of stocks before the coronavirus caused markets to plummet,
The Justice Department declined to comment. His attorney did not respond to phone and email messages, but said last month that the law is clear that any senator can participate in stock market trading based on public information "as Sen. Burr did."
Customs authorities in Ohio say they intercepted a shipment of cereal earlier this month with a special frosting — cocaine.
Democrats who were involved in the questioning during the House Financial Services Committee hearing on the GameStop stock controversy spoke to Cheddar about what they felt they learned.
Southern U.S. cities slammed by winter storms that left millions without power for days have traded one crisis for another.
President Joe Biden toured a state-of-the-art coronavirus vaccine plant Friday as extreme winter weather across broad swaths of the U.S. handed his vaccination campaign its first major setback.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
New York State Assembly Majority Leader Crystal Peoples-Stokes believes 2021 is the year that the Empire State will get marijuana legalization done.
Cheddar has pulled together a rough timeline of the GameStop tale, from its inauspicious beginnings to becoming one of the biggest stories out of Wall Street since the crash of the housing market.
The UK Supreme Court has ruled that Uber drivers should be classed as “workers” and not self-employed.
Power was restored to more homes and businesses in Texas after a deadly blast of winter this week overwhelmed the electrical grid and left millions shivering in the cold.
Cheddar looks at the players in the GameStop stock saga taking part in the House Committee on Financial Services hearing.
