McCarthy hit by GOP split over defense bill and Ukraine aid
House Speaker Kevin McCarthy faced a setback as ultraconservatives Marjorie Taylor Greene and Eli Crane blocked the defense spending bill amid a bid to avert a looming Oct. 1 government shutdown. Greene cited Ukraine aid as key, saying she flipped to pressure leaders to strip it out, while Democrats urged bipartisan action. The clash sparked Democrats calling for cross party talks and a Republican civil war comparison from Hakeem Jeffries.
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Senate confirms three top military leaders amid holds
The Senate confirmed Army Chief of Staff Gen Randy George and Marine Corps Commandant Gen Eric Smith, with Gen Charles Brown named next Joint Chiefs chair. Amid holds by Sen Tommy Tuberville over abortion policy, Democrats face a months long process to clear hundreds of other nominations. Schumer pivoted to bring these votes, while Navy and Air Force leaders await action as the standoff continues.
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Murdoch announces retirement as Fox leader heir Lachlan takes helm
Rupert Murdoch steps down as leader of Fox Corp and News Corp to become chairman emeritus. Lachlan Murdoch will lead News Corp while remaining Fox Corp chief executive. Rupert vows ongoing daily involvement and critical oversight of broadcasts, newspapers, and websites.
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Stocks slide as rates stay high and Treasuries rise
Wall Street dropped amid expectations U.S. rates will stay high into next year. The S&P 500 fell 1.6 percent, Nasdaq dropped 1.8 percent, and the Dow slid 370 points as high-growth shares and Big Tech led the decline. Treasury yields climbed with the 10-year near 4.48 percent, signaling strong demand for higher yields. A favorable labor report kept investors hopeful about the job market.
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