House Democrats Consider Demanding Biden Withdraw From Race
Jul 3, 2024
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House Democrats consider urging Biden to withdraw from the race. Paramount's deal with Skydance Media discussed. JPMorgan's Kolanovic's Exit analyzed. ISM data from June explored. Potential impact of Biden's candidacy on Congress highlighted. Skydance's renegotiation with Paramount unpacked. Challenges faced by entertainment industry due to streaming platforms examined.
House Democrats are considering demanding Biden to withdraw due to fears of losing control of Congress.
Concerns arise about a possible Republican dominance if Biden remains in the race.
Uncertainties surround Biden's withdrawal regarding succession and impacts on Congressional control.
Skydance and Paramount's deal highlights challenges in the media sector amidst regulatory shifts.
Deep dives
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Democratic Lawmakers Considering Call for Biden to Withdraw
Dozens of Democratic lawmakers are contemplating demanding President Joe Biden withdraw from the race, fearing that his candidacy may jeopardize their control of Congress. This concern is not only shared by lawmakers at risk of losing elections but also by those in traditionally safe seats, highlighting broader worries about a Trump presidency jeopardizing congressional stability.
Pressure on Biden to Step Aside Due to Fear of Congressional Control Loss
Democratic lawmakers from safe seats are considering signing a letter asking President Joe Biden to withdraw from the race to prevent potential control loss of both the Senate and the House. Concerns revolve around a Biden candidacy impacting down-ballot candidates and leading to a scenario where Republicans potentially dominate the White House and Congress.
Uncertainty Surrounding Potential Biden Withdrawal and Impact on Congress
If President Joe Biden were to step aside, uncertainties arise regarding the succession, potential impacts on Congressional control, and how Democrats would navigate such a late candidacy shift. The discussion delves into scenarios such as Vice President Kamala Harris assuming the role, the possibility of an open convention, and the overall repercussions of dropping Biden from the race.
Skydance and Paramount Deal Resumes Amid Amendments in Terms
Skydance and Paramount renewed their deal discussions after a prolonged negotiation process. Sherry Redstone, emphasizing stronger indemnification terms and reshuffling of deal elements, aims to secure the agreement. Skydance's focus on acquiring Paramount's studio assets highlights the complex dynamics of the media acquisition landscape amidst shifting regulatory climates and shareholder concerns.
Challenging Dynamics in Media Business Amid Paramount-Skydance Negotiations
The media sector faces complexities with Paramount-Skydance deal revelations, indicating challenges in adapting to evolving content consumption trends. Paramount's mix of assets, including TV networks and studios, presents diversified considerations for potential buyers like Skydance and strategic moves amidst shifting industry dynamics and regulatory environments.
JP Morgan Strategist Marco Kalanovic Exiting Amid Contrarian Stock Calls
JP Morgan's prominent strategist Marco Kalanovic is leaving the firm after notable contrarian calls in the market. His forecasted S&P 500 target of 4100 and departure signal significant shifts within the bank's research team, reflecting divergent market perspectives and the challenging nature of market forecasting roles at major financial institutions.
Market Speculations Amid Marco Kalanovic's Exit from JP Morgan
Speculations arise on the implications of JP Morgan strategist Marco Kalanovic's departure, contrasting opinions within the firm's research team, and potential outcomes for his future endeavors. The diverse range of views within the bank and the broader market dynamics underscore the complexities of forecasting in the evolving financial landscape amid contrasting market sentiments.
On today's podcast: Bloomberg News Congressional Reporter Billy House on breaking news that House Democrats are considering demanding President Biden to withdraw from race. Bloomberg Intelligence US Media Analyst Geetha Ranganathan on Paramount's expected deal with Skydance Media. Bloomberg Equities reporter Alexandra Semenova on JPMorgan’s Kolanovic's Exit. And Steve MIller, Chairman of ISM on latest ISM data from June. Today's show is hosted by Tim Stenovec, Mike Regan and Alix Steel.
