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Impeachment inquiry launched into President Biden

Published

2 years ago

September 13, 2023

ticker NEWS

The US House of Representatives will initiate a formal impeachment inquiry into President Joe Biden, as announced by Kevin McCarthy, the House’s most senior Republican.

McCarthy specified that the inquiry’s focus would center on “allegations of abuse of power, obstruction, and corruption” attributed to President Biden.

Republicans have been actively investigating President Biden’s actions since they gained control of the House in January. Despite months of scrutiny, no concrete evidence of wrongdoing by President Biden has been uncovered. However, the investigations have shed more light on the business dealings of President Biden’s son, Hunter Biden, which Republicans find questionable, and President Biden’s knowledge of his son’s activities.

At a press conference held at the US Capitol, McCarthy asserted that there were “serious and credible” allegations related to the President’s conduct, which, when considered together, suggest a “culture of corruption.” The White House swiftly condemned McCarthy’s decision, with spokesperson Ian Sams stating that House Republicans have investigated the President for nine months and found no evidence of wrongdoing, labeling it “extreme politics at its worst.”

Hunter Biden

Hunter Biden is currently under federal investigation for potential tax crimes associated with his foreign business interests.

This impeachment inquiry grants congressional investigators greater legal authority, including the issuance of subpoenas for documents and testimony enforceable in court. The US Constitution permits a president’s impeachment for “treason, bribery, or other high crimes or misdemeanors.” The process could lead to an impeachment vote in the House, followed by a Senate trial, which is a political, not criminal, procedure.

Democrats hold the Senate majority and would likely block the proceedings if it advances to that stage. McCarthy’s move to support impeachment could be seen as an attempt to garner support from right-wing House Republicans amid ongoing budget negotiations.

News

Trump lands in Saudi Arabia for major deals

Trump arrives in Saudi Arabia, launching a four-day Middle East tour focused on economic deals, welcomed by Crown Prince Mohammed bin Salman.

Published

22 hours ago

May 14, 2025

ticker NEWS

Trump arrives in Saudi Arabia, launching a four-day Middle East tour focused on economic deals, welcomed by Crown Prince Mohammed bin Salman.

President Trump has officially landed in Saudi Arabia, kicking off a high-stakes four-day tour across the Middle East aimed at major economic wins.

Welcomed personally by Crown Prince Mohammed bin Salman, Trump’s arrival signals the start of key discussions with leaders from Saudi Arabia, Qatar, and the UAE.

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News

S&P 500 rebounds as Nvidia boosts tech shares

S&P 500 rebounds as Nvidia boosts tech shares amid easing U.S.-China trade tensions and softer inflation data.

Published

1 day ago

May 14, 2025

Ahron Young

S&P 500 rebounds as Nvidia boosts tech shares amid easing U.S.-China trade tensions and softer inflation data.

In Short:
The S&P 500 rose 1% on Tuesday, buoyed by improving U.S.-China trade relations and strong performances from companies like Nvidia. Despite some concerns about high valuations, analysts showed cautious optimism for continued market growth due to positive economic data and government investments.

The S&P 500 rose on Tuesday, returning to positive territory for the year as easing U.S.-China trade tensions boosted investor confidence.

The index gained 1%, with the Nasdaq Composite increasing 1.8%. The Dow Jones Industrial Average fell by 166 points, or 0.3%, due to an 18% drop in UnitedHealth shares.

Nvidia’s stock led the market, advancing 6% after announcing the shipment of 18,000 artificial intelligence chips to Saudi Arabia. This news positively impacted peer companies such as Broadcom and AMD, which increased by around 4%.

Following this rally, the S&P 500 is now up 0.2% for 2025, after previously being down over 17% due to trade uncertainties. The market responded positively to news of a 90-day tariff pause between the U.S. and China, which contributed to a significant surge in stock prices.

Market analysts noted that improved sentiment stems from several factors, including the chip deal, easing inflation pressures, and anticipated tax cuts. The White House also announced a $600 billion investment in the U.S. economy.

In addition to the trade news, softer-than-expected inflation data in April, which reported a 2.3% increase in the consumer price index, further energised the market. Economists had predicted a 2.4% rate.

Investment experts express cautious optimism, acknowledging ongoing concerns surrounding high valuations and market concentration, but suggest that current data may lead to continued market growth in the short term.

News

Trump may accept Qatari jet as the new Air Force One

Trump administration considers Qatari royal jet as potential temporary Air Force One, raising diplomatic and ethical concerns.

Published

2 days ago

May 13, 2025

ticker NEWS

Trump administration considers Qatari royal jet as potential temporary Air Force One, raising diplomatic and ethical concerns.

The Trump administration is reportedly in talks with Qatar to use a royal aircraft as a potential temporary Air Force One.

The jet — owned by the Qatari royal family — would be retrofitted for presidential use and could be offered as a gift during Trump’s term, with the possibility of it being used again as part of his future presidential library.

While no final decision has been made, the deal raises logistical, diplomatic, and ethical questions around foreign gifts, presidential travel, and how Trump may symbolically separate himself from traditional norms.

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