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For the first time in American history, the House of Representatives has voted to decriminalize marijuana The measure, which was backed by Democrats and Republicans, passed 228-164. The bill, known as The MORE Act, would eliminate the penalties that exist at the federal level for possession and use of marijuana. It also would create a pathway for Americans convicted of federal marijuana charges to have those charges expunged. 438

Following a hand recount of ballots in Georgia, President-elect Joe Biden maintained a 12,000-vote lead over President Donald Trump. The conclusion of the recount means that Biden is the projected winner of the state and its 16 Electoral College votes, according to the Associated Press. The once Republican stronghold, Georgia went for a Democratic presidential candidate for the first time since 1992. With all 50 states now called, Biden is projected to carry 306 Electoral College votes compared to 232 for Trump.The hand recount of nearly 5 million votes stemmed from an audit required by a new state law and wasn’t in response to any suspected problems with the state’s results or an official recount request. The state has until Friday to certify the results that have been certified and submitted by the counties. The recount added an additional 5,262 ballots that had gone previously uncounted, representing roughly .1% of the overall vote total. In the recount, Trump added a net of 496 votes, coming well short of cutting into Biden's lead.Once the results are certified, the losing campaign can request a recount. 1133

Former Fox News anchor Shepard Smith has a new landing spot after leaving the network abruptly last fall. CNBC announced that Smith will join the network and host a 7 p.m. newscast.“The News with Shepard Smith” will launch this fall, and CNBC said that Smith will also serve as the network's chief general news anchor and managing editor of the breaking news division.“I am honored to continue to pursue the truth, both for CNBC’s loyal viewers and for those who have been following my reporting for decades in good times and in bad,” Smith said in a press release.Smith was one of FOX News' original hires when the network launched in 1996. Smith hosted "Shepard Smith Reporting" starting in 2013, and before that, was the anchor of "Studio B."CNBC, which is more geared toward financial news, said it will use Smith’s program beyond financial news.“Much like our coverage of the coronavirus pandemic, CNBC reporters and producers can go beyond the financial markets to tell rich, deeply-reported stories across the entire landscape of global news. Each evening, Shep’s program will be the place where we’ll deliver that same credible coverage of the key issues of the day,” said Dan Colarusso, Senior Vice President, CNBC Business News. 1247

Friday brought another round of dramatic price cuts in the oil patch.US oil prices plummeted 7% and sank deeper into a bear market that has alarmed investors and made drivers around the world happy.The latest wave of selling knocked crude below a barrel for the first time since October 2017.Anxiety about oversupply and diminished demand have sent crude down by a third since it soared to a four-year high above a barrel in early October. Observers have gone from fearing 0 oil to expressing concern over why its price collapsed so quickly."The unrelenting six-week selloff has been unnerving to say the least," Michael Haigh, head of commodities research at Societe Generale, wrote to clients on Wednesday.Oil bulls are hoping OPEC and Russia come to the rescue by announcing steep production cuts at a meeting next month in Vienna. However, President Donald Trump is pressuring Saudi Arabia and OPEC not to reduce output despite the crash in prices. Traders are worried Trump's recent praise for Saudi Arabia signals the Saudis won't back a significant production cut.For the week, US oil prices are down nearly 10%.Lukman Otunuga, research analyst at FXTM, described the weekly selloff as "brutally bearish."Brent crude, the global benchmark, shed 5.5% on Friday and declined to a new 2018 low of a barrel.The meltdown was triggered by a series of developments that darkened the energy outlook. Prices soared over the summer as Trump vowed to zero out Iran's oil exports. That led Saudi Arabia, Russia and especially the United States to ramp up production. However, the Trump administration later took a softer approach on Iran sanctions to keep oil from spiking. Officials granted temporary waivers to China, India and other buyers of Iran's crude. That headfake left the oil market staring at a potential glut.At the same time, global growth fears emerged in financial markets. Economists are marking down their GDP forecasts for 2019. Germany and Japan, the world's No. 3 and 4 economies, are already in contraction. China is slowing, too. None of that is bullish for oil, which powers the world economy."Rising global crude supply coupled with worrying signs of slowing demand have written a recipe for disaster for the oil markets," Otunuga wrote to clients on Friday.The rapid collapse in oil prices caught many off guard, including hedge funds that made outsized bullish bets on crude earlier this year. Large commodity funds have accumulated losses in excess of .7 billion so far this quarter, Societe Generale estimates."Sentiment on commodity markets has been despondent," Haigh wrote.The energy slump came at just the right time for consumers though. Millions of Thanksgiving travelers were greeted by cheaper prices at the pump. The average gallon of gallon fetched .58 on Friday, down sharply from .84 a month ago, according to AAA. 2880

Fox News host Sean Hannity allegedly received help from the US Department for Housing and Urban Development to carry out multimillion dollar real estate deals, according to a report by The Guardian.The Guardian reported Sunday that Hannity is linked to a web of shell companies that spent at least million buying more than 870 homes across seven states over the past 10 years. The newspaper said it reviewed thousands of pages of public records to piece together Hannity's alleged property portfolio.The Fox News host bought two apartment complexes in Georgia in 2014 for .7 million, according to The Guardian. It reported that HUD helped him get mortgages worth .9 million to fund the purchases by insuring the loans under a National Housing Act program.Hannity didn't mention this link to the department when he interviewed HUD Secretary Ben Carson on Fox News in June 2017.The Guardian reported that some of the properties Hannity acquired were purchased "after banks foreclosed on their previous owners for defaulting on mortgages." The purchases were spread across states including Alabama and New York, according to the report."Hannity is the hidden owner behind some of the shell companies and his attorney did not dispute that he owns all of them," the Guardian reported. The newspaper said those shell companies are limited liability companies, which are "popular among well-known figures such as Hannity who wish to keep their business arrangements private."In an email to The Guardian, Hannity real estate attorney Christopher Reeves said the transactions were highly confidential and said, "most people prefer to keep their legal and personal financial issues private. Mr Hannity is no different." (Reeves is married to a CNN executive.)In a statement Monday morning, Hannity said, "It is ironic that I am being attacked for investing my personal money in communities that badly need such investment and in which, I am sure, those attacking me have not invested their money." He denied having any role in HUD's involvement in the investment."The fact is, these are investments that I do not individually select, control, or know the details about; except that obviously I believe in putting my money to work in communities that otherwise struggle to receive such support," Hannity said.Last week, it was revealed in court that Hannity is a client of President Donald Trump's personal lawyer Michael Cohen, a relationship the Fox News commentator hadn't previously disclosed.Following that revelation, Hannity said that he never retained Cohen "in the traditional sense" and that their conversations were "almost exclusively about real estate."Fox News said last week that it had been "unaware of Sean Hannity's informal relationship with Michael Cohen." It said it reviewed the matter and spoke to Hannity, who "continues to have our full support."  2884

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