Jonathan Kanter on Trump tariff ruling: This is one big beautiful mess
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Los Angeles Times
11 minutes ago
- Los Angeles Times
Texas Democrats leave the state to block vote on gerrymandered congressional map
Democrats in the Texas House left the state Sunday in a last-resort bid to block new congressional maps sought by President Trump that would give Republicans a better chance of preserving their narrow U.S. House majority in the 2026 midterm elections. The dramatic revolt came before the GOP-controlled House was set to vote Monday on the proposed maps, which would give Republicans five more winnable congressional seats. In response to Texas' rare mid-decade political gerrymander, Democratic governors in other states have floated the possibility of redrawing their own maps in retaliation, but their options are limited. Many of the Texas Democrats were bound for Illinois and a welcoming from Gov. JB Pritzker, a potential 2028 presidential contender, who in recent weeks has offered them support. It was unclear how long they were prepared to stay out of Texas or whether the maneuver would succeed. Four years ago, House Democrats left Texas for 38 days in protest of new voting restrictions that still wound up passing once the holdout ended. 'This is not a decision we make lightly, but it is one we make with absolute moral clarity,' Rep. Gene Wu, chair of the House Democratic Caucus, said in a statement. Lawmakers can't pass bills in the 150-member Texas House without at least two-thirds of them present. Democrats hold 62 of the seats in the Republican-majority chamber, and at least 51 were leaving the state, said Josh Rush Nisenson, spokesperson for the House Democratic Caucus. In addition to the Illinois group, five lawmakers headed to New York and another group went to Boston, Rush Nisenson said. Republican House Speaker Dustin Burrows said the chamber would meet as planned Monday afternoon. 'If a quorum is not present then, to borrow the recent talking points from some of my Democrat colleagues, all options will be on the table,' he posted on X. Republican Atty. Gen. Ken Paxton, who is running for U.S. Senate, said on X that Democrats who 'try and run away like cowards should be found, arrested, and brought back to the Capitol immediately.' A refusal by Texas lawmakers to show up is a civil violation of legislative rules. The Texas Supreme Court held in 2021 that House leaders had the authority to 'physically compel the attendance' of missing members, but no Democrats were forcibly brought back to the state after warrants were served that year. Two years later, Republicans pushed through new rules that allow daily fines of $500 for lawmakers who don't show up for work. Republican Gov. Greg Abbott's office did not immediately respond to requests for comment Sunday. The quorum break will also delay votes on flood relief and new warning systems in response to last month's catastrophic floods in Texas that killed at least 136 people. Democrats had called for votes on the flooding response before taking up redistricting and have criticized Republicans for not doing so. Texas Republicans last week unveiled their planned U.S. House map that would create five GOP-leaning seats. Republicans currently hold 25 of the state's 38 seats. Pritzker, who has been one of Trump's most outspoken critics during his second term, had been in quiet talks with Texas Democrats for weeks about offering support if they chose to leave the state to break quorum. Last week, the governor hosted several Texas Democrats in Illinois to publicly oppose the redistricting effort, and California Gov. Gavin Newsom held a similar event in his state. Pritzker also met privately with Texas Democratic Party Chair Kendall Scudder in June to begin planning for the possibility that lawmakers would depart for Illinois if they did decide to break quorum to block the map, according to a source with direct knowledge who requested anonymity to discuss private conversations. Now, with many Texas Democrats holed up in Illinois and blocking the gerrymandered map proposal, the stage may be set for a high-profile showdown between Pritzker and Trump. The Republican president is looking to avoid a repeat of his first term, when Democrats flipped the House two years into his presidency, and he hopes the new Texas map will aid that effort. Trump officials have also looked at redrawing lines in other states, such as Missouri, according to a person familiar with conversations but unauthorized to speak publicly about them. Cappelletti and DeMillo write for the Associated Press. AP writer Nadia Lathan in Austin, Texas, contributed to this report.
Wall Street Journal
30 minutes ago
- Wall Street Journal
Video: What's in the U.S.-South Korea Trade Deal?
A 15% headline tariff on South Korean goods. The deal removes uncertainty for Seoul, and tariffs are the same or lower than those on major trading peers, said President Lee Jae Myung. Plus the same rate for cars. Autos from the likes of Hyundai face a 15% tariff—similar to the levies on Japanese and EU vehicles—and down from a proposed 25%, according to a senior Seoul official. Duty-free treatment for the U.S. President Trump said U.S. exports to South Korea 'will not be charged a tariff.' A $350 billion U.S. investment commitment. South Korea has pledged some $200 billion of funding for chips, nuclear power, batteries and biotech, and $150 billion for shipbuilding, the Seoul official said. Trump said investments would be 'owned and controlled' by the U.S. Status quo for rice and beef. Seoul won't open its market further to U.S. rice or beef—moves that would have sparked significant backlash inside South Korea. Safeguards for semiconductors and pharma. Trump has threatened extra tariffs on these industries, but South Korea has received 'most-favored nation' treatment, the official said. This means South Korea won't face higher tariffs than other countries on those products.
Yahoo
40 minutes ago
- Yahoo
Lay Hong Berhad Full Year 2025 Earnings: EPS: RM0.12 (vs RM0.12 in FY 2024)
Lay Hong Berhad (KLSE:LAYHONG) Full Year 2025 Results Key Financial Results Revenue: RM1.07b (up 3.0% from FY 2024). Net income: RM86.8m (down 3.8% from FY 2024). Profit margin: 8.1% (down from 8.7% in FY 2024). The decrease in margin was driven by higher expenses. EPS: RM0.12 (down from RM0.12 in FY 2024). Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. All figures shown in the chart above are for the trailing 12 month (TTM) period Lay Hong Berhad shares are down 1.6% from a week ago. Risk Analysis Before we wrap up, we've discovered 1 warning sign for Lay Hong Berhad that you should be aware of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
