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Republican Senate Majority Leader Mitch McConnell has won a seventh term in Kentucky.The 78-year-old McConnell defeated Democrat Amy McGrath, a retired Marine combat pilot who challenged him as a political outsider. McConnell is the longest-serving Republican leader in Senate history.As President Donald Trump’s top ally on Capitol Hill, McConnell led efforts to defend the president during his impeachment acquittal in the Senate. He also worked with Trump on a tax overhaul and orchestrated Senate confirmation of more than 200 judicial appointments, including Amy Coney Barrett to the Supreme Court.McGrath also lost a race for a House seat in 2018. 661

President Donald Trump told reporters aboard Air Force One on Friday that he plans on banning popular social media application TikTok in the US.According to White House pool reports, Trump said, “I have that authority. I can do it with an executive order or that.”“As far as TikTok is concerned we’re banning them from the United States,” Trump told the reporters. Trump added that he planned to take action against the popular video-sharing app as soon as Saturday.Earlier on Friday, Bloomberg reported that Trump was planning on forcing TikTok’s parent company ByteDance to sell the company. The company is based in China, a country Trump has ramped up tensions with amid the coronavirus pandemic.But Trump indicated to reporters on Friday that he is not in favor of allowing a sale of the company to an American-based company.The popular social media application has gained popularity among younger Americans in recent months. The application allows users to share short video clips, often accompanied with music. Users of the application orchestrated a campaign to Trump's first rally during the coronavirus pandemic in June in Tulsa to reserve tickets and not show up, which prompted lower-than-expected attendance numbers. The Trump administration has complained that the application takes data and is used by the Chinese government. "All the things that you care that you want to make sure the Chinese Communist Party doesn’t have, we have a responsibility to make sure that the systems that you’re using don’t give them access to that," US Secretary of State Mike Pompeo said last week. 1603

Remedy: Consumers should immediately visit www.HP.com/go/batteryprogram2018 to see if their battery is included in the recall and for instructions on how to enable “Battery Safety Mode” if their battery is included in the recall. The website provides consumers instructions on how to initiate the validation utility to check their battery and what to download if their battery is included in the recall. These batteries are not customer-replaceable. HP will provide free battery replacement services by an authorized technician. 538

President Donald Trump says he has asked the SEC to study whether to stop requiring companies to report quarterly earnings.In speaking to business leaders, one told him a twice-a-year reporting system would allow companies the flexibility and cost savings companies need to "Make business (jobs) even better in the U.S." Trump tweeted Friday morning. Trump said he directed the SEC to look into a change in its requirements.Public companies must report their sales, profits and the state of the company's balance sheet every quarter. That has been required since the Securities Exchange Act of 1934, which was put in place to give more confidence and transparency to investors in the wake of the 1929 stock market crash. That act also created the SEC, which sets the regulations which govern those quarterly reports.Businesses have long complained that the reports require company executives to focus too much on the short term. Juicing numbers impresses investors, but it can force companies to miss out on long term trends. One of the reasons Tesla CEO Elon Musk wants to take his company private, he told his employees last week, was the way quarterly reports distort decisions at the company.President Barack Obama has also criticized quarterly reports.Speaking to the New York Review of Books in 2015, Obama said that he had talked to a large number of businesses executives who told him, "Because they've got quarterly reports to shareholders and if they've made a long-term investment that may pay off way down the line, or if they're paying their employees more now because they think it's going to help them retain high-quality employees, a lot of times they feel like they're going to get punished in the stock market. And so they don't do it, because the definition of being a successful business is narrowed to what your quarterly earnings reports are."Shareholders, however, use the quarterly earnings reports as a guide to the quality and health of their investments. Without quarterly financial reports, investors could be blind to important risk factors that could damage their portfolios.The president has run privately-held companies that didn't have to report results at all during most of his time in business,The European Commission, among others, only requires semi-annual financial reports of companies there, although major European companies whose stock is traded in both the United States and Europe will report on a quarterly basis in order to comply with SEC regulations.The-CNN-Wire 2519

Quibi, a streaming service specializing in short-length videos, is reportedly shutting down, according to multiple reports.The Wall Street Journal first reported the news Wednesday morning, citing people familiar with the matter. They explain the service had trouble nearly from the moment it launched in April, facing low viewership and low download numbers during a global pandemic.Quibi was once seen as having a lot of potential, raising .75 billion in capital. It focused on mobile devices and short-length videos.Jeffrey Katzenberg, one of the founders of the company, is a former Disney executive who started DreamWorks, and helped raise that money for Quibi by partnering with most of the major Hollywood studios, Google, Alibab, among others, according to The Information.Meg Whitman was Quibi’s CEO.No word on what will happen to the content reportedly under production for Quibi. 900

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