Court upholds TikTok ban with possible sale requirement
The Supreme Court unanimously backs a federal law barring TikTok in the United States starting Sunday unless it is sold by its China based parent. The decision cites national security risks while noting limited speech concerns. The law includes a potential 90 day pause if a sale progresses.
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Senate advances Laken Riley Act on immigration policy
The Senate pushed the Laken Riley Act toward final passage with a 61 35 vote and 10 Democrats backing it. The bill would let states challenge federal immigration policy and require detention for migrants accused of theft or violent crimes. It carries a potential $83 billion cost over three years per Democratic staff estimates, while Republicans discuss a $100 billion border enforcement package via reconciliation.
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Fifteen Drugs Added to Medicare Price Negotiations
The Biden administration says Ozempic Wegovy and 13 other drugs will be subjected to Medicare price negotiations. The added items raise the total to 25 drugs accounting for about a third of Medicare prescription spending. Final terms will hinge on the incoming Trump administration.
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Wall Street Ends Best Week In Two Months As Tech Lifts Market
U S stock indexes closed their strongest week in two months with the S P 500 up 1 percent as the Dow rose 334 points and the Nasdaq gained 1 5 percent Led by Big Tech and oilfield services firm SLB which jumped 6 1 percent after a stronger fourth quarter and an increased dividend The Magnificent Seven including Alphabet Amazon Apple Meta Microsoft Nvidia and Tesla fueled gains amid easing inflation and hopes of Fed rate cuts while Treasuries traded softer amid rate uncertainty
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