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Trump Puts On A Press Conference Show

Trump Puts On A Press Conference Show

Your unbiased daily news brief

James Kratch
January 08, 2025

Good Wednesday morning. Internet-connected devices will soon receive federal certification for meeting cybersecurity standards, similar to energy efficiency labels. Have a great day!

In Today’s Brief

California: Brush fire
NATO: Baltic patrol
Gaetz: Comeback talk
Nasdaq: Big sell-off
Musk: Soccer buzz

... and more

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Top Tips

1) The weave

Call it MAGA-fest Destiny.

The news: President-elect Donald Trump held a wide-ranging press conference at his Mar-a-Lago estate in Florida yesterday. The event came a day after Congress certified his victory and 13 before he returns to office.
Expansion draft: Trump reiterated his desires for the U.S. to take control of Greenland and potentially reclaim control of the Panama Canal, refusing to rule out military action. Greenland is an autonomous territory of Denmark, a NATO ally; Panama assumed complete control of the canal in 1999. Trump also continued to suggest Canada become the 51st state,but conceded he would only use economic levers to force a merger.
Reality check: Trump's provocations about Canada and the Panama Canal are likely negotiation tactics to rework various economic and trade pacts. Greenland may be slightly different. Trump is not the first American leader to suggest annexing it. And while Denmark has made it clear it will not sell, Greenlanders could vote for independence and then formally tie themselves to the U.S. in some fashion. That remains a longshot, though.
The rest: Trump blasted President Joe Biden's recent executive order blocking gas and oil drilling and said he plans to immediately reverse it (something legal experts believe will be difficult). He also called for the Gulf of Mexico to be renamed the Gulf of America, suggested Hezbollah was involved in the Jan. 6 Capitol riot and said there would be "hell to pay" in the Middle East if Hamas does not release all remaining Gaza hostages by Inauguration Day.

2) Major event

A massive earthquake rocked Tibet.

The news: At least 126 people died and close to 200 were injured after the 7.1 magnitude quake hit a remote part of the autonomous Chinese region. Over 3K buildings were damaged; overnight temperatures well below freezing were complicating relief efforts.
The location: The earthquake occurred near the holy city of Shigatse in the foothills of the Himalaya Mountains; a Mount Everest base camp was closed as a result. The earthquake and subsequent aftershocks were also felt in India and Nepal.
Big picture: Power and water in the region have been disrupted. Chinese President Xi Jinping ordered all-out search missions and deployed other resources. The exact conditions on the ground may be murky due to the scarcity of journalist access to the region.

3) Rent dispute

The Department of Justice is taking aim at several of the nation's largest landlords.

The news: Six major property management companies participated in unlawful algorithmic pricing schemes, according to an antitrust lawsuit. DOJ alleges the firms shared internal data to keep rent prices high, harming the tenants in 1.3M units across 43 states and the District of Columbia.
Catch up: DOJ filed an antitrust lawsuit against RealPage in August, alleging the real estate software company facilitated landlords' anti-competitive collusion. The new filing adds the companies to that ongoing matter.
Big picture: Rent costs skyrocketed nationwide in 2021 and 2022 following the pandemic. Prices have since dropped, but they remain high in many parts of the country. Ten states have joined DOJ as co-plaintiffs in the suit; a related federal settlement with a seventh property management company is pending.

Quick Tips

U.S. News

A fast-moving California brush fire had roughly 30K under evacuation order. The Pacific Palisades blaze had engulfed over 1.3K acres near Los Angeles and was threatening 10K homes as of last night (More)
The FBI said it uncovered "additional criminal conduct" by indicted New York City Mayor Eric Adams. Federal prosecutors made the revelation in a court filing but did not provide details; Adams has pleaded not guilty to corruption charges (More)
The Biden Administration asked a federal appeals court to stay a plea deal for Khalid Sheikh Muhammad, the alleged mastermind of the Sept. 11 attacks. A military appeals court said Secretary of Defense Lloyd Austin did not have the authority to reject military prosecutors' agreements with Muhammad and two other alleged terrorists (More)

World News

A NATO fleet will guard the Baltic Sea's underwater infrastructure. About 10 ships from the alliance will deploy by the end of the week following repeated sabotage incidents believed to be orchestrated by China and Russia (More)
The U.S. has determined Sudan's Rapid Support Forces and allied militias have committed genocide. The groups' leaders have been sanctioned; the State Department said the RSF has systematically targeted civilians due to their ethnicity, including murders and rapes (More)
Israel, the U.S. and the United Arab Emirates are in talks on a post-war Gaza government. Proposals include a temporary multinational administrative state until a reformed Palestinian Authority can take over; the UAE has formal diplomatic ties with Israel (More)

Political News

Former Florida Rep. Matt Gaetz said he is contemplating a gubernatorial run in the state. The failed Attorney General nominee is now working for OANN; the long-term political ramifications of the House Ethics Committee report on his alleged sexual misconduct are unclear (More)
Republicans will effectively control half of the country's state legislatures this year. The GOP will hold both chambers in 24 statehouses, according to Cook Political Report, with Democrats controlling 15 and 10 with split majorities; Nebraska has a non-partisan unicameral legislature with an unofficial Republican supermajority (More)
Special Counsel Jack Smith's final report on Trump was temporarily blocked. U.S. District Judge Aileen Cannon's action comes as the cases against the president-elect are winding down, but litigation involving his co-defendants continues (More)

Business & Markets

Major indexes closed lower yesterday. The Nasdaq dropped close to 400 points amid a tech stock sell-off (Dow -0.42%, Nasdaq -1.89%, S&P 500 -1.11%).
Meta will no longer use independent fact-checkers on Facebook and Instagram, instead opting for "community notes" from users. CEO Mark Zuckerberg said third-party moderators had become "too politically biased" (More)
Getty Images and Shutterstock struck a $3.7B merger deal. The combined visual image business will trade under the Getty name on the New York Stock Exchange and be helmed by Getty CEO Craig Peters (More)

Entertainment & Sports

Elon Musk reportedly wants to buy Liverpool. Errol Musk, the Tesla billionaire's father, told a British radio station that his son is interested in the Premier League club controlled by the U.S.-based Fenway Sports Group, but a sale is not believed to be imminent (More)
Singer-songwriter Peter Yarrow died at 86 following a battle with bladder cancer. He was best known for his role in the folk music trio Peter, Paul and Mary; he co-wrote Puff the Magic Dragon and was also a social activist (More)
A New Jersey man pleaded not guilty in the deaths of NHL star Johnny Gaudreau and his brother, Matthew. Sean M. Higgins is accused of driving while intoxicated and hitting the men as they cycled; he rejected a plea deal that carried a 35-year sentence (More)

Quick Hitters

Fun Stuff: The Tonight Show's Jimmy Fallon asked people to share wild stories about their roommates. The internet did not disappoint.
Take Note: We don't blame you for being excited about taking those new running shoes you got for Christmas out for a spin. But be aware: A recent study found wearing new kicks may triple your injury risk.
Go Deep: The United Kingdom has established a pioneering national blood bank for dogs, similar to the one operated for humans. It has already saved many pets' lives and could become part of a global veterinary trend.
Great Escape: A British sailor became trapped inside an upturned yacht in the frigid Southern Ocean while competing in an around-the-world race. This is the miraculous story of his grueling survival and eventual rescue.
Life Hack: Grab a piece of paper and jot down a list of good things that recently happened to you. Psychological research has found the simple act can provide a powerful mood boost.

Watch This

The surprisingly good news about mental health.