| Donating to Trump might be a tough call for Corporate America in 2020 | | |  | WED, JUN 19, 2019 | | | | | | WHERE BUSINESS AND POLITICS CONVERGE | | | | Hi readers,
President Trump officially kicked off his 2020 campaign yesterday, but raising money from Corporate America may not be so easy for the president this time around. Trump's disruptive trade confrontations have sent shockwaves through the business world, and insiders tell Eamon Javers there's not a lot of interest in "getting too close" to the president. Meanwhile, Joe Biden travels to San Francisco next week for a two-day fundraising weekend, which includes an event with a former Twitter executive. Brian Schwartz reports on Biden's 2020 fundraising efforts.
Facebook is under fire again this week. After announcing plans for a digital currency, top lawmakers are calling for a hearing on Libra, and Rep. Maxine Waters says there should be a moratorium on the social network's plans. Sal Rodriguez has a round-up of reaction from Capitol Hill. On top of that, Sen. Josh Hawley introduced a new bill this week that would have broad implications for big tech companies like Facebook -- and their legal responsibility when it comes to the content users post on their platforms. We explain the bill and how the tech industry is responding.
On the trade front, markets welcomed news that Trump and Chinese President Xi spoke by phone, and that the two will have an "extended" meeting at the G-20 in Japan. How that meeting plays out will be closely watched by the financial world, and we'll be on the ground to cover it. Be sure to follow Kayla Tausche (@kaylatausche) and Stephanie Dhue (@stephaniedhue), who travel to Osaka next week.
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| | Donating to Trump might be a tough call for Corporate America in 2020 | | With the official launch of President Donald Trump's 2020 reelection campaign Tuesday, Corporate America faces a vexing challenge: Should it put campaign money behind the incumbent Republican running for reelection? Typically, that would be an easy call for companies long aligned with the GOP's low-tax, free market message. But this is not a typical year, and Trump is not a typical Republican president. | | | | | | Biden's Bay Area fundraising blitz | | Former Vice President Joe Biden and his aides have lined up hosts for his two-day Bay Area fundraising tour, including a former Twitter executive and veteran Democratic financiers, CNBC has learned. Starting June 28, Biden will travel to San Francisco to take part in a fundraising event at the home of former Obama and Clinton bundler Doug Hickey, according to people with direct knowledge of the planning. | | | | | | Facebook's Libra cryptocurrency faces backlash on Capitol Hill | | Hours after Facebook unveiled its Libra cryptocurrency, members of Congress voiced their skepticism. Rep. Patrick McHenry, R-N.C., called for a hearing to "assess this project and its potential unprecedented impact on the financial system." Rep. Maxine Waters, D-Calif., went so far as to request that Facebook pause its development of Libra. | | | | | | GOP senator introduces a bill that would upend business models for tech giants | | Sen. Josh Hawley, R-Mo., has proposed a new bill that would remove the immunity that protects tech companies such as Facebook, Twitter and Google's YouTube from liability for user-posted content, unless these companies prove to the FTC that their content moderation is politically neutral. Trade organizations representing the tech industry argue that the bill would make content moderation harder, not easier – and could raise the costs of content moderation. | | | | | | Capital Exchange
Economy 2020: Achieving Sustainable Growth
Capital Exchange events feature candid conversations about how business and government can better collaborate to create jobs and economic growth. Featuring top lawmakers, CEOs and administration officials, Capital Exchange will focus on the confluence of policy, business and money. Events will cover such topics as Innovation and Regulation; Immigration Policy and the Economy; Finance, Markets and Banking in the Trump Era; The New American Labor Force. | | Capital Exchange: Economy 2020 July 9, 2019
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