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Boost from Major Upset: Democrat Wins Pennsylvania State Senate District Held by GOP for Decades (New York Times)
Democrat James Andrew Malone, a small-town mayor, won a surprise victory on Tuesday in a special election for the Pennsylvania State Senate, narrowly prevailing in a district that Donald Trump won by 15 points last fall.
Math from the Majority: Trump Pulls New York Representative Elise Stefanik’s UN Nomination to Protect GOP Majority (Bloomberg)
Infrastructure Warning: Trump Considers Killing Big Energy Projects in Dem States (Politico)
A list circulating inside the Energy Department suggests cutting funding for the development of four hydrogen production hubs in mostly Democratic-leaning states while maintaining funding for three hubs spread across mostly red states.
The cuts, if carried through, would politicize the federal funds that Congress and the Biden administration awarded to seven regional applicants as part of the bipartisan infrastructure law.
Market Watch: Liability Management and Looking Beyond US Investments to Europe, Asia (Morning Porridge - Bill Blain)
Expert financial commentator Bill Blain's 'Morning Porridge' newsletter had a good take on where markets are headed: "Most of the folk I’ve spoken with recently reckon the US stock market remains on course for a downer year."
"They agree the negative effect of tariffs, increasing anti-American sentiment, and Europe’s need to build new geopolitical relationships, will seriously impact the value of US stocks in terms of US firms’ global sales, profitability, the American-exceptionalism premium, and that there is a diversification need to trade away from US investments into other jurisdictions. Heck, even Americans I spoke to yesterday agreed with that analysis. I am going to spend some time in next few weeks looking at diversification trades into other economies, including Europe and Asia."
Stock Rally Continues: European Banks Have Best Quarterly Streak Since Financial Crisis (Bloomberg)
Big Shake: Magnitude 7.7 Quake, Strongest in Myanmar in a Century, Also Rocks Thailand, Vietnam (Bloomberg)
Coming Soon to Streaming: Bloomberg Originals Series 'An Optimist’s Guide To The Planet With Nikolaj Coster-Waldau' Lands Season 2 (Deadline)
The Art of Perfect Vibes: How NYC's Hottest Restaurants Got That Way (Bloomberg)
So what’s the winning formula for a top-tier place, one that attracts diners across an array of demographics (like Torrisi in SoHo, pictured below)? It’s an almost mystical combination of buzzy energy plus good - often great - food, supercharged with cozily familiar hospitality, Bloomberg's Kate Krader writes. Underpinning this delicate concoction are interiors designed to be cool but not trendy, delivering an immersive sense of authenticity even at brand-new establishments.
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