The day so far
Joe Biden’s pardon of his son Hunter Biden, who pleaded guilty to federal tax evasion charges and was convicted of firearms charges, has been met with both condemnation and support. Critics and allies have weighed in on political implications, precedents set, and how the move might impact the outgoing president’s legacy.
Here’s what else has happened today:
Donald Trump has named the billionaire investment banker Warren A Stephens – who poured millions of dollars into GOP coffers during the last election cycle – as his nomination as ambassador to Britain.
A “previously undisclosed whistleblower report” on Pete Hegseth, Trump’s pick for defense secretary, highlighted allegations of financial mismanagement, sexual impropriety, and personal misconduct, which forced him to step down from two non-profits he ran.
American-Israeli soldier Omer Neutra, who was thought to have been a hostage in Gaza, is now feared to have died in the Hamas terrorist attack on 7 October 2023.
White House press secretary Karine Jean-Pierre said Biden will announce more pardons and grants of clemency in the final weeks before he leaves office.
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Trump names billionaire investment banker as US ambassador to the UK
Trump has named the billionaire investment banker Warren A Stephens as his nomination as ambassador to Britain. Making the announcement on Truth Social, Trump called Stephens the “one of the most successful businessmen in the Country”, and said he had always dreamed of serving the United States full-time.
Stephens is the chair, president and CEO of Stephens Inc, a privately owned financial services firm headquartered in Little Rock, Arkansas, but he’s also a big political spender with a history of throwing millions behind the candidates and causes he favors.
He hasn’t always been on team Trump, even donating against him in the early years, but Stephens poured millions of dollars into GOP coffers during the last election cycle – including at least $3m donated to the Super Pac Make America Great Again Inc.
Once called the “king of Little Rock, Arkansas”, the NYT wrote of Stephens’s wealth, and his tactics for hiding it, in 2017, reporting:
Mr Stephens used an opaque holding company to own an approximately 40 percent stake in a loan business accused by the federal Consumer Financial Protection Bureau of cheating working-class and poor Americans. While earning millions from the investment, Mr Stephens helped finance a political onslaught against the bureau, never mentioning his personal connection to the fight.
Trump highlighted in his announcement post that Stephens “has built a wonderful financial services firm, while selflessly giving back to his community as a philanthropist”.
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