- Important state and national stories, market and business news, sports and entertainment, delivered in quick-hit fashion to start your day informed.
In Mississippi
1. China ordered to pay $25B to MS for COVID damages
Later Friday, Attorney General Lynn Fitch announced that a federal district court in South Mississippi had ordered China to pay over $25 billion in damages to Mississippi related to COVID.
“China orchestrated a scheme that artificially raised both PPE prices and the need for PPE in the first place. Such conduct calls for a historic penalty to achieve deterrence, thereby protecting the public,” Fitch shared on social media.
However, China has refused to recognize the jurisdiction of the court and a default judgment was entered against it.
It remains to be seen if the ruling will be upheld or if the state can execute on the judgment. The latter may depend on the extent of China-owned property in the state that could be subject to seizure, which is unlikely to be worth the $25 billion.
2. MS Homeowner Rehabilitation and Reconstruction Program launches to help rebuild after 2023, 2024 storms
The Mississippi Development Authority will launch the Mississippi Homeowner Rehabilitation and Reconstruction Program on December 8. It is a federally funded initiative designed to assist low- and moderate-income homeowners whose properties were damaged or destroyed by the March 2023, June 2023 or April 2024 tornadoes and straight-line winds.
Funded through the Community Development Block Grant–Disaster Recovery program, MDA said Friday that HRRP provides financial assistance to eligible homeowners to repair or fully reconstruct single-family homes impacted by these qualifying storms.
“This program represents another important step in helping Mississippi families recover from the devastating storms of 2023 and 2024,” Governor Tate Reeves said. “HRRP will help homeowners rebuild stronger, safer homes while ensuring that recovery reaches the people and communities that need it most.”
Sign up at MSHousingRecovery.com to be notified when the program opens.
National News & Foreign Policy
1. Trump backs release of Epstein files ahead of House vote
As reported by The Hill, “President Trump on Sunday night called on House Republicans to vote to release files linked to convicted sex offender Jeffrey Epstein, reversing his previous position.”
“Trump’s announcement came amid signs that a vote this week on a measure forced by a discharge petition might have won dozens of Republican votes despite the president’s opposition,” The Hill reported, adding, “A discharge petition to force a vote on a measure to release the government files secured its 218th signature on Wednesday when Rep. Adelita Grijalva (D-Ariz.) was sworn into Congress.”
The Hill continued, “If the measure is approved by the House, it would still need to be passed by the Senate and signed by Trump to force the release. Last week, those two steps still seemed in doubt, but Trump’s statement on Sunday suggests they could become reality.”
2. Some Senators pushing additional abortion restrictions ahead of vote on Obamacare subsidies
The Washington Post reports that the U.S. Senate “will vote next month on legislation to extend Affordable Care Act subsidies that Democrats desperately want to preserve before they expire at the end of the year.”
“But Democrats will need Republican votes to pass a bill — and a deep divide between the two parties over abortion is already threatening to scuttle any deal,” WP reported. “Republicans, under pressure from antiabortion advocates, have insisted that any extension should include additional restrictions on abortion coverage for plans that get government subsidies. That request is dead on arrival with Democrats.”
WP went on to report, “That’s only one of several potential changes to the subsidies that Republicans are seeking. They have also suggested implementing minimum out-of-pocket premiums and income caps, or turning the subsidies into a direct payment that could be used for health care costs. However, the abortion provision appears to be the proposal with the least room for compromise with Democrats.”
Sports
1. Rebels move up to No. 5 in AP Top 25
Lane Kiffin’s first win over Florida as the Ole Miss Head Coach pushed the Rebels up in the AP Top 25, coming in at No. 5 in this week’s poll.
Three undefeated teams sit at the top, with Ohio State at No. 1, Indiana at No. 2 and Texas A&M at No. 3. Ole Miss’ only loss this season was to Georgia, which comes in at No. 4.
Notably, North Texas entered the AP Top 25 for the first time since 1959. That week 66 years ago, Ole Miss was also ranked No. 5.
2. JSU rolls past Bethune-Cookman
The Jackson State Athletics Department said the JSU Tigers used a trio of running backs going over the century mark and a stingy defense to defeat Bethune-Cookman 28-13 at Veterans Memorial Stadium on Saturday afternoon.
JSU Athletics said Ahmad Miller led all rushers with 118 yards on 22 carries, while Donerio Davenport added 106 yards on 11 carries with a touchdown and Travis Terrell Jr. hitting the mark for the second time this season with 103 yards on 11 carries and a touchdown. The Tigers ended the day with 360 yards rushing, while the defense allowed just 75 yards on the ground on 25 carries.
Jackson State returns to action on Senior Day next Saturday against Alcorn State at 2:30 p.m. on ESPN+.
Markets & Business
1. Futures mixed to open week
CNBC reports that stock futures were mixed on Monday “following a choppy week in which valuation fears, a rotation within the market and a recalibration of Federal Reserve rate cut expectations pressured the artificial intelligence trade.”
“The Nasdaq Composite ended last week down 0.5%, led by declines in Alphabet as well as Amazon, Broadcom and Meta Platforms. The Dow Jones Industrial Average and S&P 500 eked out small gains last week, though they suffered steep declines on Thursday,” CNBC reported.
CNBC added, “Investors will get more clues on the state of the AI trade this week, when Nvidia reports earnings on Wednesday. Wall Street will also get a look at the health of the consumer, with retail giants Walmart and Home Depot set to post their quarterly results.”
2. White House looks for ways to lower consumer costs
According to the Wall Street Journal, “Following the recent election, Trump’s aides have urged the president to focus on affordability, and they are drawing up plans to attempt to address voters’ frustrations, according to administration officials. The president’s team is discussing more deals with pharmaceutical companies to make prescription drugs cheaper, approvals for new offshore-drilling projects and new healthcare proposals, the officials said. The president has also ordered up new ideas to address the high cost of housing.”
“It won’t be easy to lower prices in a way that satisfies voters, who have signaled in polls that they want far-reaching changes that will make everyday life more affordable. Most prices are dictated by market forces that are beyond the president’s control. Interest rates are set by the independent Federal Reserve, which has so far resisted Trump’s pressure campaign. The president would need congressional approval to issue direct payments to Americans,” WSJ reported.
WSJ continued, “Reducing tariffs is one of Trump’s most potent tools for lowering prices. On Friday, the administration said it would lower tariffs on beef, coffee, nuts, spices and dozens of other agricultural and food goods, marking a significant shift in Trump’s forceful approach to trade policy.”
Magnolia Tribune
