May had failed to win a parliamentary majority on Britain's withdrawal from the European Union.Europe Politicsread more
Investors are rushing into the relative safe haven of the bond market, causing the yield on the U.S. 10-year Treasury to plummet.Real Estateread more
President Donald Trump on Thursday directed the U.S. intelligence community to "quickly and fully cooperate" with Attorney General William Barr's investigation into the...Politicsread more
Despite a decline in global commercial real estate markets, Asia-Pacific continues to enjoy a record-breaking growth — thanks to China, according to the Global Capital Flows...Real Estateread more
The Wall Street Journal and The New York Times, citing people familiar with the deal, reported that $30 million would go to plaintiffs and $14 million would be used to pay...Entertainmentread more
Danish shipping group A.P. Moller-Maersk on Friday posted first-quarter profit close to expectations and warned that trade tensions and slowing economic growth constitute...Earningsread more
Wall Street is becoming convinced that both the White House and Beijing are willing to engage in a protracted trade war that could begin to hit consumers and slow global...Market Insiderread more
The U.S. Commerce Department said its proposed rule would amend the normal countervailing duty process to include new criteria for currency undervaluation.World Economyread more
SpaceX sent 60 satellites into space in a key first mission toward the company's own high-speed internet network.Internetread more
Zilingo founder Ankiti Bose says working as an investment analyst helped her build her near-$1 billion fashion start-up.Ditching the Corporate Liferead more
TransferWise, the money transfer start-up, was valued at $3.5 billion after investors bought $292 million of shares in a secondary sale.Technologyread more
Republican Senator Cory Gardner of Colorado promised on Thursday to put holds on all nominees for Attorney General Jeff Sessions' Justice Department, amid a furor over a policy change that aims to reverse the federal government's permissive stance toward states that legalize marijuana.
On the Senate floor, a visibly agitated Gardner decried a "complete reversal" of the position he said Sessions and President Donald Trump had taken with respect to enforcing federal laws that outlaw marijuana use.
"Prior to his confirmation, then-Senator Sessions told me there would be no plans to reverse the Cole memorandum," Gardner said. He referred to a 2013 memo penned by former Deputy Attorney General James Cole essentially assuring that the Obama administration would not stop states from legalizing marijuana.
"One tweet later, one policy later, a complete reversal of what many of us on the Hill were told before the confirmation, what we had continued to believe the last year," Gardner said. "And without any notification, conversation, or dialogue with Congress [the policy was] completely reversed."
Gardner said he will be putting holds on every nomination to the Justice Department until Sessions "lives up to the commitment that he made to me in my pre-confirmation meeting with him."
A Senate hold enables a single senator to block a nomination, a motion or even a piece of legislation from being seen in the Senate.
To put holds on all nominations is especially consequential for the Justice Department, which reportedly is still missing Senate-confirmed leaders in at least six divisions.
On Thursday, Sessions issued a directive rescinding Cole's policy. The former Alabama senator directed federal prosecutors "to use previously established prosecutorial principles that provide them all the necessary tools to disrupt criminal organizations, tackle the growing drug crisis, and thwart violent crime across our country."
The Department of Justice later said in a public statement that Sessions' decision represented "a return to the rule of law."
Trump, Gardner noted on the Senate floor, had previously stated that as a presidential candidate, he wouldn't use federal authority to shut down sales of recreational marijuana.
"I think it's up to the states," Trump said in a 2016 interview. "I'm a states person. I think it should be up to the states. Absolutely."
"I would like to know from the attorney general what has changed," Gardner said on Thursday. "What has changed President Trump's mind that the Cole memorandum would be reversed and rescinded?"
Marijuana has remained federally prohibited for decades, and Colorado is one of the pioneers of legalization at the state level. In 2016, the state topped $1 billion in legal weed revenues, allowing the government to reap a $198.5 million windfall in marijuana taxes.
In 2012, Colorado became the first state in the nation to legalize marijuana for recreational use. Since then, marijuana sales have created hundreds of millions in revenue for the state every year.
The Department of Justice did not respond to a request for comment on Gardner's remarks in time for publication of this story.