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Good morning and happy Wednesday! The Los Angeles Dodgers earned high praise after getting superstar Shohei Ohtani's to defer $680M of his blockbuster $700M deal over the next decade. But California's state controller is not as impressed, calling on Congress to address deferred income for high earners. The unspoken angle: If Ohtani returns to Japan after his career, he will avoid state income tax. Have a great day!
In Today’s Brief
Lloyd Austin: Treated for prostate cancer
Iraq: Wants U.S troops to stay put
GOP: Iowa debate, town hall tonight
Bitcoin: SEC says ETF tweet was a hack
Disney: Baby Yoda to the big screen
... and more
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Top Tips
1) Congress isn’t out of the woods yet
About that tentative deal to avoid a government shutdown ...
What happened: Congressional leaders have agreed to a $1.7T spending deal to fund the government. But funding for some services expires Jan. 19 if the proposed pact is not finalized. A full shutdown would start Feb. 2.
Next steps: Senate Majority Leader Mitch McConnell does not believe Congress can push the legislation through in 10 days. He said Senate Majority Leader Chuck Schumer and Speaker of the House Mike Johnson must agree on a continuing resolution to avoid a partial shutdown.
Big picture: Johnson vowed he would not agree to another CR last year. And the GOP's right flank has criticized his deal with Schumer. Another stopgap measure could endanger his speakership.
2) Chaos in Ecuador
Gunmen hijacked an Ecuadorian television station and took reporters hostage amid a wave of violence in the South American country.
What happened: Masked men took over public channel TC Television during a live broadcast. They held guns to employees' heads and also apparently carried explosives. Police eventually ended the standoff and made arrests; it was not clear if any station personnel were injured.
State of emergency: Ecuador is facing an "internal armed conflict," according to President Daniel Noboa. There have been a series of attacks in the country after a pair of high-profile gang leaders escaped from prison.
Big picture: Noboa has authorized his military to neutralize 20 drug trafficking gangs he has classified as terrorist groups. Noboa, 36, is the youngest democratically-elected leader in the world; he has sought ties with the U.S. after winning a snap election last year.
3) The Trump Show
Former President Donald Trump warned of "bedlam" if his federal election interference case damages his 2024 candidacy.
What happened: Trump attended an appeal hearing in Washington. His attorneys argued he should have complete presidential immunity from prosecution. A three-judge panel reportedly seemed inclined to rule against Trump, but did not make a ruling.
Controversial claim: Trump attorney John Sauer made headlines by telling a judge that if a sitting president ordered Navy SEALs to assassinate a political rival, they can only face prosecution after being impeached by the House and convicted by the Senate. Special Counsel Jack Smith's team has rejected Trump's legal arguments.
Big picture: Trump will likely lose the appeal. But he can then petition to the full D.C. Circuit of Appeals (and the Supreme Court after that). The process will likely prevent Smith's plan for a March trial.
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Quick Tips
U.S. News
Secretary of Defense Lloyd Austin was treated for prostate cancer; his concealed hospitalization was due to surgery and a urinary tract infection. President Joe Biden was not made aware of his diagnosis until yesterday (More)
NASA has delayed two manned lunar missions for at least a year due to spacecraft issues. The announcement followed this week's unmanned lunar lander setback; astronauts will not return to the moon until at least 2026 (More)
New Jersey Sen. Bob Menendez said he is innocent of federal bribe charges in a floor speech. Menendez alleged the government has conspired against him to influence public opinion and a potential jury pool (More)
World News
Iraq’s prime minister privately supports U.S. troops staying in the country. Mohammed Shia al-Sudani's aides have told the State Department his announced plan to remove a foreign military coalition was driven by domestic politics (More)
German Chancellor Olaf Schulz is pressuring European Union members to provide more military aid to Ukraine. Germany plans to send about $9B in aid this year; it has asked its EU counterparts to report aid plans (More)
Taiwan's leading presidential candidate accused China of unprecedented election interference ahead of the island nation's Jan. 13 vote. Lai Ching-te, currently the country's vice president, alleged economic coercion, military threats and misinformation (More)
Campaign News
The top Republican presidential candidates will clash in Iowa across two networks tonight. CNN will host a debate between Florida Gov. Ron DeSantis and former South Carolina Gov. Nikki Haley; former President Trump will do a Fox News town hall at the same time (More)
Haley has pulled within single digits of Trump in CNN's latest New Hampshire primary poll. Trump leads, 39% to 32%, with former New Jersey Gov. Chris Christie at 12% (More)
Louisiana Gov. Jeff Landry wants to end open primaries for local, state and federal elections in the state. The "jungle primary" features all parties on the same ballot and a runoff if no one gets 50% of the vote; it is not used for presidential elections (More)
Business & Markets
Major indexes closed mixed yesterday. The Nasdaq closed up; the Dow Jones and S&P 500 closed down (Dow -0.42%, Nasdaq +0.09%, S&P 500 -0.15%).
The SEC said it has not approved bitcoin ETFs and its X account was hacked. An announcement including a statement from chairman Gary Gensler was tweeted and then deleted (More)
BlackRock will lay off about 3% of its global workforce. The world’s largest asset manager said it is reallocating resources due to technological advances in the financial industry (More)
If you would like to go deeper on any of these topics, we highly recommend subscribing to Bay Area Times. It's a newsletter similar to Tip News where we get much of our business and tech information. What's best, it's a visual email - it includes graphs, charts, and bullets - so it's super easy to read. You can subscribe for free in 1-click right here:
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Entertainment & Sports
Disney announced a new Star Wars film will begin production this year. The Mandalorian and Grogu will be directed by Jon Favreau and include the "Baby Yoda" character (More)
Adan Canto, who starred on Designated Survivor, Narcos and other television shows, died at 42. The actor succumbed to appendiceal cancer; his diagnosis had not been made public (More)
Rachel Balkovec was named the Miami Marlins’ farm system director. She was the first woman to manage a minor league baseball team, working in the New York Yankees’ organization (More)
Quick Hitters
Feel Good: A baby elephant was separated from their mother inside India's vast Anaimalai Tiger Reserve. A team of foresters secured the calf and then used drones and other methods to reunite them with their herd. The ensuing photo is wonderful.
Big Find: Coal miners in North Dakota stumbled upon a remarkable surprise, unearthing a seven-foot-long mammoth tusk. It could be as much as 100K years old; a paleontologist was surprised by how well-preserved it is.
New Law: The Department of Labor has finalized a new rule that will force companies to treat some workers as employees in industries that rely on contractors, such as ride-share and food delivery apps. It will likely see legal challenges.
Life Hack: What time should be dinner time? Opinions vary, but nutritionists all agree it should be earlier rather than later. Aim to eat at least 3-4 hours before you go to bed, experts say.
Get Healthy: Pop quiz: What’s the body’s most abundant protein? The answer: Collagen. NativePath's Certified Grass-Fed Collagen Powder is made from grass-fed, pasture-raised cows and contains 18 grams of protein per suggested serving. Start incorporating it daily to support skin elasticity, joint health, bone strength, and muscle growth and maintenance.*
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Watch This
Check out the trailer for Mothers' Instinct, an upcoming film starring Jessica Chastain and Anne Hathaway as best friends whose relationship takes a dark turn after a tragedy.
Vladimir Putin revived a spy force made famous by James Bond🤵♂️
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A look at some of the most-anticipated new movies in 2024 🍿
RFK Jr. has bailed on his scheduled super PAC birthday party 🥳
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New research challenges everything that we know about the T-rex 🦖
A reality TV star went ballistic at a high school wrestling match 🤼
Aaron Rodgers fired back at Jimmy Kimmel … and said a lot more 🏈
These simple habits can have a very positive impact on your life 😀
Looking Ahead …
The headliners for this summer's Bonnaroo Music & Arts Festival have been announced. Jason Isbell, Megan Thee Stallion, Post Malone and the Red Hot Chili Peppers are among the big names scheduled. The event runs June 13-16 in Manchester, Tennessee.