.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."
Stocks are swinging back down in early trading Wednesday after more signs piled up showing just how severely the coronavirus outbreak is damaging the economy.
Elizabeth Warren endorsed Joe Biden on Wednesday, becoming the last of the former vice president's major Democratic presidential rivals to formally back him.
President Donald Trump said Tuesday that he was cutting off U.S. payments to the World Health Organization during the coronavirus pandemic, accusing the organization of failing to do enough to stop the virus from spreading when it first surfaced in China.
Part of the stimulus package to aid small businesses, the Paycheck Protection Program has hit a bottleneck, according to Brock Blake, CEO of
Tatyana Popkova, chief strategy officer for the health system, talked to Cheddar about how the innovative medical center was designed to take on challenges such as a patient surge from a pandemic.
Stocks are ending with solid gains on Wall Street Tuesday as the market turns its attention to how and when authorities may begin to lift business shutdowns and limits on people's movements imposed to slow the spread of the coronavirus.
Former President Barack Obama endorsed his Vice President Joe Biden, the presumptive Democratic nominee, for president Tuesday.
Kay Sears, VP and GM of Military Space for Lockheed Martin described the final frontier as a "warfighting realm," to Cheddar at Satellite 2020.
President Donald Trump is asserting that he is the ultimate decision-maker on how and when to relax the social distancing guidelines put in place to fight the new coronavirus.
Fintech companies have long touted their ability to bank the unbanked, but the coronavirus pandemic is giving them a chance to put their money where their mouths are.
