• Politics
    The Wrap

    ‘That’s a Lie': Exasperated Joe Scarborough Fact-Checks Trump as Impeachment Begins

    MSNBC’s Joe Scarborough fact-checked statements from a Davos press conference by President Trump on Wednesday morning and didn’t hide his exasperation.Scarborough, a former GOP congressman, pointed out that the Washington Post has now chronicled over 16,000 “false or misleading claims” from the president since he took office.“He says he makes great deals. That speaks for itself: A man who’s gone bankrupt time and time again and continues to be mired in a North Korean missile deal where he was made to look like a complete fool,” Scarborough said.Also Read: Joe Scarborough Says Trump Impeachment Is 'About History,' Not Just Election (Video)He then referred to the phone call with the Ukrainian president that led to Trump’s impeachment, “He keeps talking about releasing a transcript. He never released the actual transcript. That’s a lie.”From there, Scarborough contrasted Trump’s insistence that he and the Ukrainian president both agree the call was a “perfect conversation” with the latest polling that shows 51% of Americans think the Senate should remove the president for office because of the call.In December, the House impeached Trump on charges that he abused the power of his office and obstructed Congress. The House voted on two articles of impeachment, drafted by the House Judiciary Committee, which charged the president with abuse of power and obstruction of Congress.Also Read: Joe Scarborough: GOP Won't Come on 'Morning Joe' to Talk Debt Unless 'Democrats Are in the White House'For abuse of power, the House voted 230-197; for obstruction of Congress, the House voted 229-198. The votes concluded a months-long impeachment inquiry process into Trump’s dealings with Ukraine, which sought to determine whether he solicited foreign power for his own political gain. And as the inquiry unfolded, the White House’s refusal to cooperate and attempts to block witnesses from testifying amounted to obstruction of Congress, according to the articles of impeachment.Read original story ‘That’s a Lie': Exasperated Joe Scarborough Fact-Checks Trump as Impeachment Begins At TheWrap

  • Business
    Associated Press

    Air bag woes force Honda, Toyota to recall 6M vehicles

    Two different air bag glitches have forced Toyota and Honda to recall over 6 million vehicles worldwide, and both problems present different dangers to motorists. The Toyota recall affects about 3.4 million vehicles globally and is being done because the air bags may not inflate in a crash. The cars have air bag control computers made by ZF-TRW that are vulnerable to electrical interference and may not signal the bags to inflate.

  • Business

    Guggenheim Says Market a ‘Ponzi Scheme’ That Must Collapse

    (Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.Scott Minerd has a message for his fellows at Davos who are applauding rallying markets: Things aren’t as good as they seem.The Guggenheim Partners investment chief likened the inflation of asset prices caused by the loose money policies of central banks to a “ponzi scheme” that eventually must collapse.“We will reach a tipping point when investors will awake to the rising tide of defaults and downgrades,” he wrote in a letter from the World Economic Forum meeting. “The timing is hard to predict, but this reminds me a lot of the lead-up to the 2001 and 2002 recession.”Minerd’s warning to clients came before U.S. President Donald Trump spoke to a delegation in Davos, where he faulted the U.S. Federal Reserve for trying to raise interest rates and said the central bank took too long to lower them. The European Central Bank will on Thursday decide about the direction of interest rates as officials weigh the extent of an economic slowdown.Minerd cited rising defaults despite a rally in riskier assets, and reiterated a warning that BBB-rated bonds risk further downgrades. He said that type of debt is at a greater risk of deterioration than it was in 2007.Anne Walsh, Guggenheim’s fixed-income chief, said in an interview that 15% of the U.S. economy is already in recession. She said the Federal Reserve’s efforts to pump liquidity into markets has created “zombie companies” that may see an outflow of capital as the utility of that money continues to diminish, she said.The longer that this market runs, the harder the fall will be when it ends, she said.“Patience will lead to bigger opportunities for disciplined investors who don’t wander off into exotic asset classes or chase current returns,” Minerd wrote in the letter.(Updates with quotes in the final paragraph and context in paragraph four.)To contact the reporters on this story: Ross Larsen in Rome at rlarsen2@bloomberg.net;Sonali Basak in New York at sbasak7@bloomberg.net;Sridhar Natarajan in New York at snatarajan15@bloomberg.netTo contact the editors responsible for this story: Sree Vidya Bhaktavatsalam at sbhaktavatsa@bloomberg.net, Ross Larsen, Stefania BianchiFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • World

    Taiwan calls on China to share 'correct' virus information

    Taiwan President Tsai Ing-wen called on China on Wednesday to share "correct" information about a new coronavirus and for the World Health Organisation (WHO) not to exclude Taiwan from collaboration on the outbreak for political reasons. Authorities have confirmed more than 400 cases of the virus in China, most of them in the central city of Wuhan where the virus first appeared at the end of 2019. The virus, which health officials have said can be passed from person to person, has spread to cities including Beijing and Shanghai, with cases have been confirmed in Thailand, South Korea, Japan, as well as Taiwan.

  • Politics
    Associated Press

    US to impose visas restrictions for pregnant women

    The Trump administration is coming out with new visa restrictions aimed at restricting “birth tourism," in which women travel to the U.S. to give birth so their children can have a coveted U.S. passport. The State Department planned to publicize the rules Thursday, according to two officials with knowledge of the plans who spoke to The Associated Press on condition of anonymity. The rules would make it more difficult for pregnant women to travel on a tourist visa.