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What’s on tap: 

• Auto lender fraud

• Defense bill passes

• Latest flying air taxi

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Big Stories

HHS Cuts Pediatrics Group Grants

• The Department of Health and Human Services terminated seven grants worth millions to the American Academy of Pediatrics this week, amid an ongoing lawsuit the group filed against Health Secretary Robert F. Kennedy Jr. in July over vaccine policy.

• The grants supported reducing infant deaths, preventing birth defects, and identifying autism early. HHS said the grants "no longer align with the Department's mission" but provided no explanation. UC Law professor Dorit Reiss said the cuts may be illegal retaliation for free speech.

• The AAP sued Kennedy in July after he fired the vaccine advisory panel and replaced members with vaccine critics. Since then, the CDC rolled back decades-old recommendations that all newborns receive the hepatitis B vaccine within 24 hours. Cases in children dropped 99% after that 1991 guidance.

GOP Obamacare Rebellion

• Four House Republicans defied leadership Wednesday and signed a Democrat-led discharge petition, giving Democrats the 218 signatures needed to force a vote on extending Obamacare subsidies set to expire Dec. 31.

• Reps. Brian Fitzpatrick, Mike Lawler, Rob Bresnahan, and Ryan Mackenzie from competitive districts joined all 214 Democrats. The vote won't happen until January under House rules, meaning the subsidies will still expire for 22 million Americans with premiums projected to double.

• Fitzpatrick said leadership 'forced this outcome' by rejecting his amendments. The revolt marks another loss of control for Speaker Johnson, who lost a similar fight last month over Epstein files.

Auto Lender CEO Charged With Fraud

• Federal prosecutors charged Tricolor Holdings CEO Daniel Chu and three other executives on Wednesday with conspiracy, bank fraud, and running a continuing financial crimes enterprise in connection with the subprime auto lender's billion-dollar collapse. The company filed for Chapter 7 bankruptcy in September.

• US Attorney Jay Clayton said Chu led 'an elaborate scheme to defraud creditors' by repeatedly lying to banks, falsifying auto-loan data, and double-pledging the same collateral to multiple lenders. The fraud allowed Tricolor to borrow against the same assets repeatedly.

• Tricolor specialized in loans to low-credit borrowers across the Southwest, often without credit checks. The collapse harmed lenders, including JPMorgan Chase and Barclays, as well as employees and customers. Two former executives pleaded guilty and are cooperating. Chu faces a maximum sentence of life in prison.

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Quick Stories

US News

• Congress passed a $900 billion defense bill giving troops a 3.8% raise starting January 2026, while also funding military infrastructure and granting federal recognition to North Carolina's Lumbee Tribe. (More)

• Dan Bongino is quitting as FBI deputy director in January following clashes with the attorney general over closing the Epstein investigation without charging anyone else. (More)

• The Trump administration is dissolving Colorado's National Center for Atmospheric Research, the largest federal climate program. (More)

World

• Bolivia will revise coca laws after plantings jumped 10% to 34,000 hectares, exceeding the 22,000-hectare limit. The surplus crops fuel cocaine production. (More)

• England's resident doctors started a five-day strike because the government offered more training spots but no pay raise, their 14th walkout since March 2023. (More)

• Canada's population fell 0.2% as fewer international students arrived since the government tightened its rules, the first decline since COVID. (More)

Business & Economy

• US stock markets closed lower on Wednesday (S&P -1.16%, Nasdaq -1.81%, Dow -0.47%). The S&P closed for a fourth-straight day as investors continued selling AI stocks. (More)

• Warner Bros. told shareholders to reject Paramount's $77.9 billion takeover bid despite it topping Netflix's $72 billion offer, saying the streaming giant's financial backing makes it safer. (More)

• Amazon is in talks to invest over $10 billion in OpenAI and supply AI chips, expanding its AI partnerships after already investing $8 billion in rival Anthropic. (More)

Sports & Entertainment

• The Chicago Bears are considering leaving Illinois for Indiana to build a domed stadium due to disputes over tax breaks and $855 million in public funding for their new site. (More)

• The Miami Dolphins benched struggling quarterback Tua Tagovailoa for rookie Quinn Ewers after Tagovailoa threw a career-high 15 interceptions this season and the team was eliminated from playoff contention. (More)

• YouTube will stream the Oscars with exclusive rights worldwide starting in 2029 under a five-year deal. (More)

Science, Health, & Tech

• Norwegian researchers found that shopping centers help fight loneliness by serving as "third places" where people, especially older adults, can socialize, people-watch, and build friendships beyond home and work. (More)

• A Florida study found mosquitoes fed on 86 animal species, nearly capturing all local vertebrate biodiversity, showing mosquito blood meals can be an efficient tool for monitoring wildlife. (More)

• Pumas in Argentina's Patagonia region have rebounded to record numbers after near-extinction, and they're now hunting Magellanic penguins that thrived in their absence along the coast. (More)

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