Johnson Wins Speaker Vote & Biden Blocks US Steel Sale | Afternoon Update | 1.3.25

Summary

Morning Wire Episode Summary: "Johnson Wins Speaker Vote & Biden Blocks US Steel Sale | Afternoon Update | 1.3.25"

Release Date: January 3, 2025

Hosts: John Bickley & Georgia Howe

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In the latest episode of Morning Wire, hosts John Bickley and Georgia Howe provide a comprehensive afternoon update covering pivotal developments in U.S. politics, economic trends, international security, and cultural news. This detailed summary encapsulates the key discussions, insights, and conclusions drawn during the episode.

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1. Mike Johnson Secures Speaker of the House Position

Georgia Howe opens the episode by announcing the successful re-election of Mike Johnson as Speaker of the House.

"Mike Johnson will remain speaker of the House. He secured his position Friday on the first ballot after some conservatives expressed reservations about reelecting the speaker." [00:02]

Johnson's victory was significantly aided by the pivotal support of two Republicans, Ralph Norman of South Carolina and Keith Self of Texas, who initially had reservations but ultimately backed Johnson. This consolidation of support ensures Johnson can effectively advance President Donald Trump’s agenda, focusing on priorities such as border security and federal regulation cuts.

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2. President Biden Blocks U.S. Steel Sale to Japan

Transitioning to economic policy, Georgia Howe introduces the segment on President Joe Biden’s blocking of a $14 billion sale of U.S. steel to Japan’s Nippon Steel, with insights from Daily Wire senior editor Cabot Phillips.

"President Joe Biden blocked the $14 billion sale, citing national security concerns." [00:48]

President-elect Trump had previously vowed to prevent such deals, emphasizing the importance of keeping U.S. steel production domestic. The decision aligns with the stance of prominent Republican senators like J.D. Vance, Josh Hawley, and Marco Rubio, who argue that foreign ownership could jeopardize critical American infrastructure. The immediate impact saw U.S. steel shares drop by 8%, and the move has elicited mixed reactions from labor unions, potentially straining U.S.-Japan relations.

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3. Resurgence of the Islamic State in Syria

Tim Pierce reports on the rising activity of the Islamic State (ISIS) in Syria following the collapse of Bashar al-Assad’s regime.

"The Islamic State has seized weapons abandoned by the Syrian army to bolster its efforts to regain influence amid the country's instability." [01:33]

As ISIS attempts to regain a foothold, the U.S., France, and Kurdish militias have ramped up airstrikes against their targets. Meanwhile, Turkey is supporting the Islamist group Hayat Tahrir al Sham, creating a complex geopolitical landscape. The power vacuum raises significant concerns about the security of detention camps harboring ISIS militants and their families, with Iraqi officials urging the U.S. to reconsider its withdrawal plans to mitigate emerging threats.

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4. Sharp Decline in Mortgage Applications

John Bickley discusses the notable drop in mortgage applications towards the end of December, with detailed analysis from Daily Wire senior editor Ash Short.

"The Mortgage Bankers Association reported a 21.9% decline in total mortgage applications for the last two weeks of December." [02:08]

Ash Short attributes this decline to soaring interest rates, with the 30-year fixed rate nearing 7%. Additionally, increased home inventory and elevated prices are deterring potential buyers. Refinance applications fell by 36%, and purchase applications decreased by 13%, marking a significant downturn not seen in over a decade.

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5. Tesla’s Decline in Vehicle Deliveries

Tim Pierce highlights a rare dip in Tesla’s global vehicle deliveries, the first in over ten years.

"Tesla's global vehicle deliveries declined by 1%. The EV maker delivered 1.79 million vehicles for the year, down from 1.81 million in 2023." [02:37]

Despite achieving a record 495,570 deliveries in the fourth quarter, the annual total fell short of expectations, leading to a 3% drop in Tesla’s stock. Elon Musk had previously warned investors about potential slowdowns due to increased competition and market saturation. Nonetheless, Musk remains optimistic, focusing on future projects like autonomous vehicles and artificial intelligence to drive growth.

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6. Major U.S. Banks Exit Climate Initiative

John Bickley covers the withdrawal of several major U.S. banks from a global climate initiative, with reporting by Culture reporter Megan Basham.

"Morgan Stanley, Citigroup, Bank of America, Wells Fargo, and Goldman Sachs have all left the Net Zero banking alliance." [03:30]

The exits coincide with the incoming Trump administration, which is expected to roll back climate-related regulations and scrutinize initiatives perceived as limiting fossil fuel investments. Republican lawmakers have raised concerns that such alliances might violate antitrust laws, intensifying political pressure on financial institutions to disengage from climate-focused consortia.

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7. Rudy Giuliani’s Legal Battle Over Yankees Rings

Tim Pierce reports on Rudy Giuliani’s legal efforts to retain his cherished Yankees World Series rings amidst a $148 million defamation verdict.

"Giuliani wants to keep the coveted rings in the family as legal battles strip away his assets." [04:17]

Giuliani argues that the four rings, gifted by Yankees owner George Steinbrenner, are family heirlooms intended for his son, Andrew. Each ring is valued at $27,000. The legal dispute, set for January 16th, will also address Giuliani's Palm Beach condo, which he claims is exempt as his primary residence. This case is part of broader efforts to satisfy the defamation verdict won by two former Georgia election workers over Giuliani's post-2020 election comments.

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8. Bernie Sanders Aligns with Trump on Credit Card Interest Rates

In an unexpected political development, Tim Pierce reports that Senator Bernie Sanders is proposing a bill to cap credit card interest rates at 10%, mirroring a commitment made by President-elect Trump.

"Sanders is introducing a bill to cap credit card interest rates at 10%, echoing a campaign promise from the president-elect." [04:56]

This proposal aims to alleviate the burden of rising consumer debt, which has surpassed $1 trillion in credit card balances with average interest rates around 24%. While Trump had pledged a temporary cap, some Republican leaders express concerns about potential impacts on credit availability. Sanders urges Trump to support the legislation to address the financial strain on American consumers.

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9. Surgeon General Advocates for Cancer Warnings on Alcohol Labels

John Bickley informs listeners about U.S. Surgeon General Dr. Vivek Murthy’s initiative to mandate cancer warnings on alcoholic beverage labels, similar to those on cigarettes.

"Dr. Vivek Murthy is calling for cancer warnings on alcoholic beverage labels, much like those on cigarettes." [05:29]

Dr. Murthy highlights the connection between alcohol consumption and at least seven types of cancer, including breast, colorectal, and liver cancers. He recommends revising current alcohol consumption guidelines, advocating for reduced intake to improve public health. Implementing these warnings would require congressional action, as federal guidelines currently suggest men limit intake to two drinks per day and women to one.

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10. Angelina Jolie and Brad Pitt Finalize Divorce Settlement

Concluding the episode, John Bickley shares news about the finalization of Angelina Jolie and Brad Pitt’s divorce settlement.

"Angelina Jolie and Brad Pitt have finalized their divorce settlement. The couple agreed to keep the details private to protect their family." [05:29]

After nearly eight years of legal disputes over child custody and shared assets, including their French estate and winery, Chateau Miraval, the couple has reached a joint settlement. This agreement ensures privacy to safeguard their six children and resolves ongoing custody issues, bringing closure to their prolonged separation process.

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Conclusion

John Bickley wraps up the episode by encouraging listeners to visit dailywire.com for more in-depth reporting on these and other significant stories. He invites the audience to tune into full episodes of Morning Wire for comprehensive coverage of the day's biggest news.

"To learn more about these stories, go to dailywire.com and for more in-depth reporting on the biggest stories of the day, tune in to our full episode of Morning Wire." [06:32]

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This episode of Morning Wire offers a thorough overview of critical events shaping the current landscape, providing listeners with insightful analysis and updates on pressing issues across various domains.

Transcript

[Georgia Howe]

Georgia.

[John Bickley]

I'm Georgia Howe with Daily Wire Editor in Chief John Bickley. It's Friday, January 3rd, and this is your Morning Wire afternoon update. Mike Johnson will remain speaker of the House. He secured his position Friday on the first ballot after some conservatives expressed reservations about re electing the speaker. Two Republicans, Ralph Norman of South Carolina and Keith Self of Texas, flipped votes and backed Johnson, helping to solidify his leadership position. The outcome is a major boost for his advancing President Trump's agenda. Johnson has vowed to focus on border security, federal regulation cuts and other Trump priorities. President Joe Biden has blocked the sale of U.S. steel to Japan's Nippon Steel. Daily Wire senior editor Cabot Phillips has the details.

[Cabot Phillips]

President Joe Biden blocked the $14 billion sale, citing national security concerns. President elect Donald Trump, who had previously vowed to prevent the deal upon taking office, reiterated his commitment to keeping U.S. steel domestically owned, pledged to implement policies supporting the American Ste industry. Additionally, Republican senators, including J.D. vance, Josh Hawley and Marco Rubio opposed the acquisition, arguing that foreign ownership could undermine critical American infrastructure. U.S. steel's shares fell 8% following the announcement. The move has drawn mixed reactions from labor unions. Could impact US Japan relations Concerns over.

[Tim Pierce]

The resurgence of the Islamic State in Syria are mounting after the fall of President Bashar al Assad's regime. Daily Wire reporter Tim Pierce has the story.

[Unnamed Reporter]

The Islamic State has seized weapons abandoned by the Syrian army to bolster its efforts to regain influence amid the country's instability. Meanwhile, the United States, France and Kurdish militias have intensified airstrikes against ISIS targets, while nearby Turkey is supporting the Islamist group Hayat Tahrir al Sham. The power vacuum in Syria has raised alarms about the security of detention camps holding ISIS militants and their families, with Iraqi officials urging the US to reconsider its planned withdrawal to address the potential threat.

[John Bickley]

Demand for home mortgages dropped sharply at the end of December. Daily Wire senior editor Ash Short has the details.

[Ash Short]

The Mortgage Bankers association reported a 21.9% decline in total mortgage applications for the last two weeks of December, which is usually a slow time of year. Refinance applications also fell 36% and purchase applications dropped 13%. Much of the blame is being placed on high interest rates. A 30 year fixed rate hit nearly 7% recently, while home inventory has grown compared to last year. High prices and elevated rates continue to.

[Tim Pierce]

Deter buyers for the first time in over a decade. Tesla's global vehicle deliveries declined by 1%. The EV maker delivered 1.79 million vehicles for the year, down from 1.81 million in 2023 despite a record 495,570 deliveries in the fourth quarter, the numbers fell short of those needed to surpass the previous year's total. Tesla stock fell by more than 3% immediately after the numbers were announced. Elon Musk had cautioned investors about a potential slowdown due to increased competition and market saturation, but he remains optimistic, focusing on future projects like autonomous vehicles and artificial intelligence.

[John Bickley]

Several major US banks have exited a global climate initiative aimed at reducing greenhouse gas emissions. Daily Wire Culture reporter Megan Basham has the story.

[Megan Basham]

Morgan Stanley, Citigroup, bank of America, Wells Fargo and Goldman Sachs have all left the Net Zero banking alliance whose purpose was to reduce greenhouse gases to combat climate change. The departures come as President elect Donald Trump prepares to begin his second term, with his administration expected to roll back climate related regulations and increase scrutiny of initiatives perceived as limiting fossil fuel investments. Republican lawmakers have raised concerns that such alliances could violate antitrust laws, intensifying political pressure on financial institutions to disengage.

[Tim Pierce]

Former New York Mayor Rudy Giuliani is fighting to keep his cherished Yankees World Series ranked. Daily Wire deputy Managing editor Tim Rice has more.

[Tim Rice]

Giuliani wants to keep the coveted rings in the family as legal battles strip away his assets. This is all to satisfy a $148 million defamation verdict won by two former Georgia election workers over comments Giuliani made after the 2020 presidential election. In court documents, Giuliani argues the four rings given to him by Yankees owner George Steinbrenner during his time in office are heirlooms meant for his son Andrew. The rings are valued at $27,000 each. A court date set for January 16th will determine the fate of the rings, along with that of Giuliani's Palm beach condo, which he claims is exempt as it is his primary residence.

[Tim Pierce]

Senator Bernie Sanders has entered unfamiliar territory. Agreement with Donald Trump. Sanders is introducing a bill to cap credit card interest rates at 10%, echoing a campaign promise from the president elect. Sanders has called on Trump to support the legislation, which aims to address rising debt as Americans hold more than 1 trillion in credit card balances and those average rates 24%. While Trump pledged a temporary cap, some Republican leaders have opposed similar measures, citing concerns about credit availability.

[John Bickley]

The US Surgeon General, Dr. Vivek Murthy, is calling for cancer warnings on alcoholic beverage labels, much like those on cigarettes. Murthy cites links to at least seven types of cancer, including breast, colorectal and liver cancers. Dr. Murthy recommends revising alcohol consumption guidelines, emphasizing that drinking less is, is better for health. Currently, federal guidelines suggest men limit intake to two drinks per day and women to one. But the proposed warnings would require congressional action to become mandatory. And after an eight year legal battle, Angelina Jolie and Brad Pitt have finalized their divorce settlement. Jolie filed for divorce in 2016, citing irreconcilable differences leading to protracted disputes over child custody and shared assets, including their French estate and winery, Chateau Miraval. The couple were declared legally single in 2019, but they share six children, and custody issues persisted until now. In a joint settlement, Jolie and Pitt said they've agreed to keep the details of the settlement private to protect their family.

[Tim Pierce]

All right, those are your Drive Home updates this afternoon. To learn more about these stories, go to dailywire.com and for more in depth reporting on the biggest stories of the day, tune in to our full episode of Morning Wire.

[Unnamed Host]

Every morning.