The following is a rundown of the day’s news drawn from other media sources with topics curated jut for Money and Markets readers: personal security and freedom, business and the economy, and politics.
Personal Security and Freedom:
Arizona Governor’s Veto Aimed at Own Party’s Right
Republican Arizona Gov. Jan Brewer slapped down the right wing of her own party, vetoing a bill pushed by social conservatives that would have allowed people with sincerely held religious beliefs to refuse to serve gays.
Supreme Court Expands Police Authority to Search Homes
Police officers may enter and search a home without a warrant as long as one occupant consents, even if another resident has previously objected, the Supreme Court ruled Tuesday in a Los Angeles case.
Vandals Spray Paint Across Homes, Cars in Wealthy Neighborhood
Vandals have targeted one of the Bay Area’s wealthiest communities and their handiwork has gotten the attention of the FBI. The FBI monitors activist movements such as Occupy Wall Street.
Professor Tells Congress: America at ‘Constitutional Tipping Point’
Members of Congress and constitutional law experts testified before the House Judiciary Committee on Wednesday, warning that the legislative branch is in danger of ceding its power in the face of an “imperial presidency.”
iPhone Surveillance Startup Moves to New York City
The smartphone monitoring software keeps track of users’ phone calls, texts, browsers, and even their WhatsApp activity. It sounds legally dubious, but the founders claim that mSpy app is legal as long as a device’s owner knows they’re under surveillance.
Business and economy:
Target Earnings Slide 46% After Data Breach
The earnings report on Wednesday offered the first detailed look at the financial fallout of the breach and the task ahead as Target seeks to recover from one of the largest credit-card thefts in history.
Obama Eases Penalties for Businesses Hiring Illegal Immigrants
The Obama administration regularly cuts a break for businesses that hire illegal immigrants, reducing their fines by an average of 40 percent from what they should be, according to an audit released Tuesday that suggests the government could be doing more to go after unscrupulous employers.
Mt. Gox Clients Probably Won’t Get Their Bitcoins Back
Customers of the bitcoin exchange may have little chance of recovering their funds if they prove to be missing, legal and regulatory experts said. They could file lawsuits, claiming negligence or breach of contract, but the virtual currency is subject to very little regulatory oversight and no government guarantees.
Tesla Plans $5 Billion Battery Factory
The company outlined plans for a factory that would employ up to 6,500 people and cover as many as 1,000 acres, including solar and wind farms to supply its power needs. It is evaluating sites in Nevada, New Mexico, Arizona and Texas, Tesla said in a regulatory filing.
GOP Demands Termination of IRS Employees for Political Acts
The forthcoming legislation would also introduce an additional layer of oversight onto the IRS, directing the Government Accountability Office to review each of the agency’s operating divisions in order to determine that they are properly screening cases.
Rand Paul Is the GOP’s Early Presidential Front-Runner
“The political instinct of when to do things is not something you teach — you either have it or you don’t. He’s got a knack for finding populist issues showing why the government is stupid, and people like it,” said Republican strategist Scott Jennings.
Hillary Clinton Promised Clinton Library Would Be Open Earlier than Legally Required
“I’ve told everyone that the history was going to be full and accurate. Nothing’s left out. There’s going to be access to all of the documents. In fact, Bill is going to be making his documents accessible even earlier than legally required,” Hillary Clinton said in her 2004 interview.
The Clinton Library’s Secret Files Remain Secret
A trove of Clinton White House records long processed for release remains hidden from public view at the Clinton Presidential Library in Little Rock — even though the legal basis initially used to withhold them expired more than a year ago.
Watchdog Group Demands Clinton Library Documents
A conservative watchdog group has filed a Freedom of Information Act request for an estimated 33,000 pages of still-inaccessible Clinton Presidential Library documents originally withheld under a legal provision which expired last January.
The Money and Markets Team