Politics

Hunter Gets a Pardon

After months of Dems say Joe would not Pardon his son, he did.

Well, well, well… what do ya know - President Biden pardoned his son, Hunter, after months of repeatedly saying he wouldn’t. 

In the final weeks of his presidency, Biden is getting his affairs in order and sneaking in as much as he can, while he still can (i.e. additional support for Ukraine). This also includes helping out his son. As George Strait sang, “a father’s love… it’s a love without end.”

While former President Bill Clinton pardoned his half-brother, Roger Clinton Jr., of a drug conviction on his last day in office in 2001 and President-elect Donald Trump did the same for his daughter Ivanka’s father-in-law, Charles Kushner, of tax evasion and witness tampering convictions in the final days of his first term (both eye rolls), Biden became the first president to grant clemency to their child. 

And it’s certainly not against the rules. In fact, the only limit placed on a president’s pardon ability is that it must pertain to crimes committed against the U.S. - so, only federal offenses. State offenses are handled by the state. 

Hunter Biden pleaded guilty over the summer to federal charges of failing to pay $1.4 million in taxes. In a separate case, he was also convicted of making false statements (claiming he was not using drugs at the time of purchasing a handgun in 2018). The younger Biden was scheduled to be sentenced on December 12th in the federal gun case in Delaware, and then on December 16th in the tax evasion case in California. But alas…

The elder Biden had previously said, many times, he would not pardon his son. “From the day I took office, I said I would not interfere with the Justice Department’s decision-making, and I kept my word even as I have watched my son being selectively, and unfairly, prosecuted,” President Biden said.

But with the pardon, he also said, “I believe raw politics has infected this process and it led to a miscarriage of justice… I hope Americans will understand why a father and a President would come to this decision.” (Somewhere, Trump nods his head to the first part)

Speaking of President-elect Trump - the pardon can not be overturned or overruled. This decision from President Biden was criticized by both Republicans and Democrats, who viewed it as an abuse of power. Pointing out that his arguments of his son being the target of political prosecution are the same ones that were rejected by the courts handling these cases. Trump called the pardon on social media, “an abuse and miscarriage of Justice.” 

The pardon doesn’t just cover Hunter’s recent convictions, but also covers any crime he may have committed from January 1, 2014 to December 1, 2024. According to reports, Biden didn't go through the Office of the Pardon Attorney, instead making this decision after discussing it with his family during their Thanksgiving in Nantucket. The Office of the Pardon Attorney rarely recommends granting pardons, according to Jeffrey Crouch, an assistant professor of American politics at American University and the author of the book, “The Presidential Pardon Power.”

The situation also led to this funny community notes moment on X (formerly Twitter).

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Business

Thousands Go On Strike at Volkswagen

Volkswagen workers are firing a warning shot.

A strike has begun at Volkswagen, as thousands of workers across nine different factories across Germany (including its EV-only factory) walked out this week. 

The strike was planned to last several hours and serve as just a warning of possible 24-hour strikes, or even more drastic measures, in the near future, due to slashed pay, lost jobs and the future of Volkswagen. The IG Metall union, which represents 120,000 Volkswagen workers, has said it will take the fight all the way if it has to. 

“If necessary, this will become the toughest wage dispute Volkswagen has ever seen,” IG Metall’s chief negotiator Thorsten Groeger said in a statement. “How long and intense this dispute will be is Volkswagen’s responsibility at the negotiation table.”

Volkswagen did not back down from its plan to potentially slash thousands of jobs, and close factories in Germany, during the collective bargaining negotiations weeks ago. That plan includes laying off thousands of workers, trimming pay for those remaining by 10% and closing at least three factories. It would be the first time Volkswagen closed a factory in its 87-year history in Germany.

The car manufacturer has been struggling, due to stiff competition from China, and announced in October that it would be closing its Audi plant in Brussels. There has been a steep decline in sales in China, which has been Volkswagen’s core market. 

The walkouts this week were the largest for Volkswagen since 2018, when a strike over pay disputes involved 50,000 workers. We’ll see if, this time around, it works out for the employees.

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Economy

AT&T Up Big & Talks Buy Backs

Focusing on cash & nice dividends is paying off.

AT&T Inc., which once loaded up on debt to pursue costly deals in the media landscape, has spent the past few years working to reduce its leverage as it exited those forays and refocused on core connectivity. And now, already known for paying a sizable dividend, AT&T is upping the target for cash it intends to return to shareholders - as the company is bringing back stock buybacks. 

AT&T plans to put at least $40 billion of cash toward dividends and buybacks over the next three years, with those share repurchases representing a new part of the equation. The company expects to devote at least $20 billion to buybacks, it said this week ahead of its investor day. 

The company had allocated $8 billion annually toward dividends over the past three years. AT&T said that it expects to maintain its $1.11-per-share annualized dividend going forward. 

“Not only are we in a position where we can continue to invest at the top of the industry, we’re going to continue to grow, and we’re going to supplement a very attractive dividend with stock buybacks,” CFO Pascal Desroches told MarketWatch.

The stock was up nearly 4% in Tuesday trading following the news. AT&T’s board of directors have already authorized the first $10 billion of buybacks, and expects another $10 billion round of share repurchases in 2026 and 2027. The company hasn’t had a stock buyback in five years. 

AT&T expects revenue growth at a low-single-digit annual rate from 2025-2027, such as 2-3%.

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Tech

Apple’s Flipping Out

With an all new flip phone that is.

In the words of Bruce Springsteen: “everything dies, baby, that’s a fact. But maybe everything that dies someday comes back.” Such was the case for vinyl records, bell bottomed pants, men’s shorts ending above the knee and… apparently flip phones?

According to display analyst Ross Young, Apple is set to introduce a foldable iPhone in the second half of 2026. Interest in foldable smartphones has precipitously dropped in recent years, but it’s expected that if this does come to fruition - it will break records for foldable phones. 

Young expects more than 30% growth in the foldable market in 2026, followed by 20% growth in both 2027 and 2028. 

A foldable iPhone has long been rumored, but could become a reality within the next 22 months. The first version could be between 7.9-8.3 inches in size with a clamshell design, like a Samsung Galaxy Z Flip. The phone would fold in half vertically, rather than horizontally, making it even more pocket friendly. 

Forget your old Razr flip, this is now the big leagues!

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Global News

No More Rare Minerals From China

Well just some of the ones important to the tech world anyway.

China announced on Tuesday that it will ban the export of several rare minerals to the United States, which is an escalation in the tech war between the world’s two biggest powers. China produces almost all of the world’s supply of critical minerals.

Sales of gallium, germanium, antimony and so-called superhard materials to the U.S. were to be halted immediately. The export of graphite will also be subject to stricter review now.  

These minerals are essential, because of their chemical properties, for the manufacturing of a wide-range of modern technologies (such as fiber optics, LEDs, solar panels, night-vision systems, surveillance equipment and more).

This move also came a day after the Biden administration tightened Chinese access to advanced American technology and six weeks before the inauguration of Donald Trump, with concerns that his presidency will initiate a new period of trade warfare between the two countries. 

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Sports

Maybe QBs Shouldn’t Slide

A rough hit puts into question just what a defender should or can even do in the NFL.

Houston Texans linebacker Azeez Al-Shaair has been suspended for three games without pay, following a late hit on the sliding Jacksonville Jaguars quarterback Trevor Lawrence in Sunday’s game. Lawrence left with a concussion, as the hit was followed by a brawl between the two teams (the second fight Al-Shaair has ignited this season). 

However, it is a tricky play for a defensive player. Your job to get the ball carrier (quarterbacks included) on the ground. However, you’re not allowed to touch the quarterback once they initiate their slide. And in some cases, such as Sunday, it can be a very late slide in a sport that can move at a rapid pace. 

Texans head coach, and former defensive stalwart, DeMeco Ryans said “a lot of quarterbacks in this day and age, they try to take advantage of the rule where they slide late, and they try to get an extra yard. And now you’re a defender, a lot of onus is on the defender, right? … If we’re sliding, we have to get down. If we’re getting out of bounds, we get out of bounds.”

Meanwhile, longtime NFL quarterback Case Keenum said he tells all young quarterbacks he works with that it is actually safer to dive head first, instead of feet first (like Lawrence), as you can better protect yourself that way. 

Al-Shaair will appeal his suspension.

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