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MNI POLITICAL RISK - Congress Returns For Crucial Speaker Vote

Daily round-up of news from the US.
StoryPolitical Risk

Executive summary:

  • At 12:00 ET 17:00 GMT, House representatives of the 119th Congress will meet to elect a Speaker. Despite wavering support from a handful of hardline conservatives, House Speaker Mike Johnson (R-LA) appears likely to secure re-election.
  • Johnson enters today's vote with an expected two-seat majority, meaning he can only drop one vote and retain his gavel. Should he win re-election, the governing stability of the House may depend on any formal or informal deals with conservatives.
  • If Johnson fails to receive support from a simple majority of voting members, additional ballots will be triggered until a speaker is elected. Until a speaker is elected, the House cannot conduct business, including swearing in new members, assigning committee roles, and certifying the presidential election on January 6.
  • President-elect Donald Trump announced appointments to round out his Treasury Department team. 
  • President Biden is reportedly preparing to issue an executive order permanently banning new offshore hydrocarbon projects in some US coastal waters.
  • Biden is expected to officially block Nippon Steel’s proposed acquisition of US Steel, as soon as today.
  • China has added 28 US defence firms to an export control list.
  • Israeli Prime Minister Benjamin Netanyahu authorised indirect negotiations with Hamas officials in Qatar and Egypt, likely the last opportunity to get a ceasefire deal in Gaza before Biden leaves office on January 20.    
  • Poll of the Day: Nearly two-thirds of executives flagged geopolitical instability as a top risk to global growth.

Please find the full article attached below: US Daily Brief

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Executive summary:

  • At 12:00 ET 17:00 GMT, House representatives of the 119th Congress will meet to elect a Speaker. Despite wavering support from a handful of hardline conservatives, House Speaker Mike Johnson (R-LA) appears likely to secure re-election.
  • Johnson enters today's vote with an expected two-seat majority, meaning he can only drop one vote and retain his gavel. Should he win re-election, the governing stability of the House may depend on any formal or informal deals with conservatives.
  • If Johnson fails to receive support from a simple majority of voting members, additional ballots will be triggered until a speaker is elected. Until a speaker is elected, the House cannot conduct business, including swearing in new members, assigning committee roles, and certifying the presidential election on January 6.
  • President-elect Donald Trump announced appointments to round out his Treasury Department team. 
  • President Biden is reportedly preparing to issue an executive order permanently banning new offshore hydrocarbon projects in some US coastal waters.
  • Biden is expected to officially block Nippon Steel’s proposed acquisition of US Steel, as soon as today.
  • China has added 28 US defence firms to an export control list.
  • Israeli Prime Minister Benjamin Netanyahu authorised indirect negotiations with Hamas officials in Qatar and Egypt, likely the last opportunity to get a ceasefire deal in Gaza before Biden leaves office on January 20.    
  • Poll of the Day: Nearly two-thirds of executives flagged geopolitical instability as a top risk to global growth.

Please find the full article attached below: US Daily Brief