.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."
After months of speculation, former NYC Mayor Mike Bloomberg made it official that he's running for president, and the media outlet he founded has outlined how they plan on covering the race from this point forward.
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.
These are the headlines you Need 2 Know.
Volkswagen gets its first chance to show off its new electric vehicle, the ID. Space Vizzion, even as the California government boycotts the show over some automakers siding with the White House in a fight over emissions standards.
These are the headlines you Need 2 Know for Thursday, November 21, 2019.
The Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act of 2019 passed through the House Judiciary Committee 24-10 on Wednesday.
Speaker Nancy Pelosi and several Democratic lawmakers held an event as the impeachment inquiry raged on drawing attention back to background check legislation currently stalled in the Senate.
These are the headlines you Need 2 Know for Wednesday, November 20, 2019.
As 2020 presidential candidates prepare to take the stage at the fifth Democratic debate on Wednesday, the lower tier candidates continue their fight for a spot on the national stage.
The third day of impeachment hearings finished up with testimony from Kurt Volker, the former special envoy to Ukraine who attempted to clarify inconsistent testimony, and Timothy Morrison, a former National Security Council official.
