.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."
Canopy Growth is planning its entry to the U.S. on the back of the new Farm Bill ー and aims to establish a hemp "hub" in New York, according to CEO Bruce Linton."New York is setting up a pretty progressive approach and we have an earlier first license under that system so we can actually create a hub," Linton told Cheddar on Tuesday.
As the government shutdown drags on, calls from some conservative corners have increased for President Trump to declare a national emergency in order to get federal employees back to work while diverting funds to build a border wall. However, conservative radio show host Erick Erickson is cautioning the president against doing just that.
The cannabis industry enjoyed a productive 2018, but the government shutdown may be turning the industry's green light to yellow. Cannabis stocks are up overall, but according to Debra Borchardt, co-founder and CEO of Green Market Report, the government shutdown has left some farmers and companies in limbo.
These are the headlines you Need 2 Know for Tuesday Jan. 15, 2019.
When William Barr, President Trump's nominee for attorney general, appears before the Senate Judiciary Committee on Tuesday for his confirmation hearing, his views on executive privilege will be under the microscope. "Mr. Barr has expressed some very broad views of executive authority and he's also expressed a very strong view that a president cannot be criminally charged," Jennifer Daskal, Associate Professor of Law at American University, told Cheddar on Monday.
Weak economic data from China and the ongoing government shutdown appeared to drag down the major U.S. indexes on Monday morning. SpaceX is slashing its workforce by 10 percent in an effort to become "leaner." Plus, we sit down with Emmy-award winning actor and producer Yeardley Smith who is most famous for voicing the iconic cartoon character, Lisa Simpson.
These are the headlines you Need 2 Know for Monday, Jan. 14, 2019.
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.
Rep. John Garamendi (D-Calif.) warned President Trump not to mess with emergency funding for California on Friday after the commander-in-chief threatened to cut off disaster-relief in the fire-ravaged state. In a tweet on Wednesday, Trump suggested that California itself was to blame for the wildfires that killed 86 people and destroyed thousands of homes last year, and said he was considering pulling its FEMA funds.
The housing market is slowing down ー and that's not necessarily a bad thing. So says Tendayi Kapfidze, chief economist for LendingTree, who told Cheddar Friday what to expect from the housing market this year.
