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The pound is fighting back after Theresa May suffers a crushing defeat in Brexit vote

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Screenshot 2019 01 15 at 20.23.02

The British pound is fighting back Tuesday evening after Prime Minister Theresa May suffered a record breaking defeat over her Brexit deal in the House of Commons.

Immediately after the vote the pound was lower by as much as 1.5% against the dollar, trading below the $1.27 mark. However, in the minutes after the vote, the pound has bounced back, and as of 8.25 p.m. GMT (3.25 p.m. EST) is narrowly in positive territory.

The rally seemingly reflects expectations that a no deal Brexit is now less likely than before, a positive for investors.

"Markets are firmly focused on the risks of a no deal and/or a potential general election. Though the former isn’t out of the question, the danger of such an outcome seems to have diminished in recent weeks, given Parliament has expressed its desire to avoid it," Dean Turner, UK Economist at UBS Global Wealth Management said in an email.

"The lack of immediate downside in sterling supports this view."

May was widely expected to suffer a crushing, and that defeat came to pass, with MPs voting 432-202 against the Withdrawal Agreement.

Labour party leader Jeremy Corbyn has now tabled a motion of no-confidence in the government, which will be voted on on Wednesday.

Richard Falkenhäll, senior FX strategist at Swedish bank SEB believes the pound could actually rally in the coming days, if it appears the UK is moving towards delaying or cancelling Brexit.

"From a GBP perspective, any alternative going forward that increases the likelihood that the UK in fact stays a member of the EU, like a referendum on the government agreement or even a new election demanding an extension of the withdrawal period, is therefore likely to be supportive for the GBP," he wrote in an email in the hour before the vote.

"Although uncertainty is bad for the economy and bad for financial markets, in this case uncertainty may in fact be a positive factor for the British currency as it increases the likelihood the UK will remain an EU-member."

SEE ALSO: LIVE: Theresa May set for huge Brexit defeat as MPs prepare to vote down her deal

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NOW WATCH: The equity chief at $6.3 trillion BlackRock weighs in on the trade war, a possible recession, and offers her best investing advice for a tricky 2019 landscape


LIVE: Attorney general nominee William Barr appears before the Senate Judiciary Committee for high-stakes confirmation hearings

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Bill Barr

  • Attorney general nominee William Barr is appearing before the Senate Judiciary Committee for confirmation hearings today and Wednesday.
  • Barr, 68, previously served as attorney general from 1991 to 1993 under President George H.W. Bush. Since then, he's worked as a corporate lawyer in private practice.

  • Read INSIDER's live coverage of the hearings.

President Trump's nominee for attorney general, William Barr, is appearing before the Senate Judiciary Committee for confirmation hearings today and Wednesday.

Barr, 68, previously served as attorney general from 1991 to 1993 under President George H.W. Bush. Since then, he's worked as a corporate lawyer in private practice.

While Barr is widely-respected in the conservative legal world, some of his opinions have garnered controversy. Barr came under scrutiny for sending an unsolicited 20-page memo to the DOJ criticizing special counsel Robert Mueller probe's line of investigation into possible obstruction of justice and witness tampering by Trump.

The memo called Mueller's inquiry into whether Trump obstructed justice when he fired FBI director James Comey "legally unsupportable" and "potentially disastrous."

But in his prepared remarks submitted to the Committee, Barr promised that "on my watch, Bob will be allowed to complete his work."

Democratic Senators on the Judiciary Committee have vowed to further press Barr on his views on the Mueller probe, executive power, and a range of other topics. 

Read more of INSIDER's coverage of the Barr hearings:

Scroll down for our timeline of the proceedings:

Sen. Lindsey Graham begins the hearings with opening remarks

Sen. Graham opened up the hearings by acknowledging the past tension on the Committee, and thanking former Chair Sen. Chuck Grassley and ranking member Dianne Feinstein for their leadership.

“If I can do what you and Sen. Grassley were able to do, I will have done the committee a great service. Last year was tough, but you and Sen. Feinstein did the best you could.”

“I want us to do better, and I’ll be measured as possible. The immigration Lindsey will show up, but I’ll try my best," he said.

Graham then introduced Barr:

“Mr. Barr, when you look at what he’s done in his life its incredible. He’s been AG before, from 91 to 93 by voice vote. Deputy AG from 90 to 91...assistant AG to Office of Legal Counsel, academically gifted, and legislative counsel to the CIA.”

“You will be challenged, you should be challenged, the memo, there will be a lot of talk about it," he told Barr. "I want to let you know we appreciate you stepping up at a time when we need your temperament and background.”



Ranking member Sen. Feinstein gives opening remarks

“I want to say a word about women. 25 years ago, there were no women on this committee," Feinstein said.

"I want to particularly welcome Sen. Ernst and Sen. Blackburn. I think it’s important that this committee be representative of our society at large," she said, referencing Republican Sens. Joni Ernst of Iowa and Marsha Blackburn of Tennessee.

Feinstein then laid out some of her concerns with Barr's memo on the Mueller probe and his views on executive power. 

“Top of mind for all of us is the ongoing investigation. Importantly, the attorney general must be willing to resist political pressure and be committed to protecting this investigation," Feinstein said. 



Retired Sen. Orrin Hatch testifies before the Committee to give remarks supporting Barr

Hatch, who served on the Judiciary Committee before retiring in 2019, appeared before the Committee as a witness to give remarks supporting Barr's nomination. 

"There is no question Bill is qualified to serve as Attorney General. He's served in this position before, and received praise for his fairness, tenacity, and work ethic," Hatch said. 

He also noted that Barr is a "lawyer's lawyer," and was not in Pres. Bush's inner circle when he was nominated in 1991. 

"His reputation as a defender of the rule of law makes him a nominee the Senate and the President should be proud of," Hatch said. 



See the rest of the story at Business Insider

Brand experts say Gillette has hit a home run with its latest ad addressing the #MeToo movement

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Gillette  masculinity ad

  • Gillette has knocked it out of the park with its ad addressing the #MeToo movement, brand experts say.
  • By appealing to increasingly belief-conscious consumers, Gillette is securing its future.
  • Gillette addressed a social cause without misappropriating it, experts say.
  • While there's been some backlash, the online sentiment is 57% positive, according to Socialbakers.

Gillette is the latest mainstream brand to have triggered a social-media firestorm, with hundreds of consumers lashing out at the brand on Twitter and YouTube for its latest ad, "We Believe."

But the 1 1/2-minute spot, which challenged toxic masculinity and directly invoked the #MeToo movement, was a calculated bid by the Proctor & Gamble shaving brand to gain relevance with consumers.

Read more: Gillette knew that its new #MeToo ad would prompt backlash. Here's why the company still went ahead with it.

That's why, despite the criticism, Gillette knocked it out of the park with this ad, brand experts say.

"This ad is a deliberate, strategic, thoughtful, and comprehensive play for long-term relevance," said Deb Gabor, CEO of Sol Marketing, a brand-strategy consultancy. "It's an outward statement aimed at differentiating the brand to stand out from its competition."

The ad will help Gillette appeal to the purpose-driven customer

A string of other marketers have taken stands on hot-button issues in recent years, from Budweiser's 2017 Super Bowl ad making a strong statement about immigration to Nike's now-iconic 2018 Colin Kaepernick spot that supported the player resisting racial injustice.

While the ads initially faced backlash, they eventually won accolades.

"In a country that is divided on so many issues, Gillette's ad was bound to elicit a visceral reaction from some," said Nick Peters, SVP at Commcore Consulting. "But it is socially and politically timely, and they have decided that they are going to be leaders when it comes to addressing the issue of toxic masculinity."

And that's going to help the brand in the long-term as it competes for increasingly beliefs-driven consumers. 

"They have kept the ad squarely focused on purpose in a way that would resonate with millennials," said Eric Schiffer, CEO of Reputation Management Consultants.

It will also help Gillette better combat direct-to-consumer competitors like Dollar Shave Club and Harry's.

"The company is facing new and aggressive competition from unconventional companies," said Dan Hill, CEO of Hill Impact. "Most of the company’s new competition targets male customers, so this could help build brand loyalty among women who buy Gillette products for themselves, as well as those buying for their household."

Gillette will likely be another Nike, not another Pepsi

Aligning with causes can backfire, as Pepsi found with its 2017 Kendall Jenner spot that critics said trivialized the Black Lives Matter movement.

That won't be the case with Gillette, because it doesn't appear to use a cause to outwardly sell a product as Pepsi did with its ad showing Jenner joining a protest march and handing a Pepsi to a cop, experts say.

"They have ticked everything off the list with their 360-degree approach: a thoughtful ad, a meaningful partnership with the Boys & Girls Club of America as well as an ongoing commitment by pledging to donate $1 million per year to relevant non-profits for the next three years," Gabor said.

Gillette ties #MeToo to its own tagline, repositioning "The Best A Man Can Get" as a call for men to look inward. P&G also promoted a stance on gender equality with its "Like a Girl" campaign for the feminine-care brand Always.

"P&G has once again done something bold, relevant and important based on conviction that does not waver in the face of controversy," said Karen Costello, chief creative officer at The Martin Agency. "This topic is an important one. And it also feels so elegantly tied to a legacy tagline of theirs – not at all tacked on to an ad."

Numbers show that Gillette may already be winning

On the first day that the ad was posted online alone (Jan. 14), Gillette was mentioned more than 136,000 times online, according to data crunched by Brandwatch. Its mentions on Jan. 15 have already passed 166,000 — an increase of more than 9,000% above average daily mentions of Gillette.

Despite the outrage, nearly 63% of the social posts mentioning Gillette on Jan. 14 were positive, and nearly 57% of posts so far on Jan. 15 also being positive. 

The surge is in direct response to the ad and the #TheBestMenCanBe hashtag associated with the ad, said Kellan Terry, PR Data Manager at Brandwatch. The hashtag is now Gillette's most-used hashtag with over 75.5 million impressions. Several mentions of Gillette also include the #MeToo hashtag, contributing to 197 million impressions.

Non-profits also applauded Gillette.

"In a public sector climate that emphasizes private sector leadership and solutions, it is refreshing to see companies stepping up to use their influence to facilitate respect, accountability and collaboration," said Ethan Powell, CEO of non-profit Impact Shares.

That's not to say that some people aren't outraged. #BoycottGillette has more than 13.9 million impressions and an associated hashtag, #GetWokeGoBroke, got more than 5.2 million impressions. Some said the ad felt like it was lecturing while others said it painted men with a broad brush.

The real test will be how the brand follows up, said Chris Allieri, principal at brand consultancy Mulberry & Astor.

"You don't absolve yourself of promoting hyper-masculinity for 30 years with one spot," he said. "You have to go further and be caught in the act of doing the right thing."

Join the conversation about this story »

NOW WATCH: Bernie Madoff was arrested 10 years ago — here's what his life is like in prison

After catching 5 times as many migrants off the West Coast in 2018, Coast Guard crews are working without pay — and retirees may be next

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Coast Guard Grays Harbor Washington lifeboat tow

  • The Coast Guard is the only military branch to work without pay during the government shutdown.
  • If the shutdown continues, the service's 50,000 retirees will miss their February 1 pay as well.
  • Around the country, communities are trying to support Coast Guard families that are going without pay.

January 15 is the first missed payday for the US Coast Guard, the only military branch who's working without pay during the government shutdown that started on December 21.

A work-around secured money for December 31 paychecks, but no such maneuver was possible for Tuesday, and communities around the country have stepped in to support Coast Guard families amid protracted uncertainty.

The strain at home comes after a busy year at sea.

In 2018, the Coast Guard apprehended five times as many migrants at sea off the coast of Southern California as it did in 2017, according to records seen by The Washington Post.

Coast Guard migrants Puerto Rico Dominican Republic Virgin Islands

The 1,022 migrants picked up off Southern California through the end of the 2018 fiscal year on September 30 exceeded the 213 and 142 intercepted in fiscal years 2017 and 2016, respectively.

But across the entire US, the number of migrants caught at sea between 2017 and 2018 decreased from 2,512 to 1,668, according to The Post.

Most of the Coast Guard's apprehensions at sea were for a long time off the coast of Florida; many of those caught were Cubans, who were allowed to pursue citizenship once reaching the US under the "wet foot, dry foot" policy.

Read more: Coast Guard crews are capturing record amounts of cocaine — here's how they chase down high-seas smugglers

The Obama administration rescinded that policy in January 2017, and most migrants intercepted there now come from Haiti or other islands in the Caribbean.

While the number of people picked up in the area has fallen, the route remains active. The service said on January 11 that 66 migrants were picked up around Puerto Rico in a 72-hour period and that 708 had been intercepted there since October 1.

Migrants picked up off the California coast come from throughout the region, from Mexico to Bolivia. High-value migrant smuggling — which involves people who've paid large sums to come to the US from countries as far afield as China and Sri Lanka — has also increased, including in the waters around Florida, Coast Guard officers told Business Insider during a patrol over Miami in November 2018.

Coast Guard migrants Puerto Rico

Out in the Pacific, Coast Guard crews were busy with a more nefarious activity in 2018.

During that period, the service seized 458,000 pounds of cocaine— less than the record 493,000 pounds seized in 2017 but more than the 443,000 pounds seized in 2016, which was itself a record.

Having faced those challenges at sea in 2018, the Coast Guard begins 2019 with a government shutdown that at 25 days is the longest in US history.

Read more: These photos show why the US Coast Guard's snipers are some of the best in the business

Unlike the other four branches of the military, which are part of the Defense Department, funding for the Coast Guard, which is part of the Homeland Security Department, has yet to be approved.

Some 42,000 active-duty Coast Guard members remain on duty without pay. The majority of the service's 8,500 civilian employees have been furloughed, though about 1,300 remain at work.

Coast Guard Honolulu Hawaii salvage

Vice Commandant Adm. Charles Ray said in a January 10 letter that Coast Guard "leadership continues to do everything possible ... to ensure we can process your pay as soon as we receive an appropriation," but "I do not know when that will occur."

In a letter two days later, Ray cautioned that "there is a distinct possibility that Retiree Pay and Survivor's Benefit Plan (SBP) payments may be delayed if this lapse continues into late January."

Coast Guard spokesman Lt. Cmdr. Scott McBride, who has missed his own paycheck, told Military.com that without a budget appropriation for fiscal year 2019, which began October 1, a continuing resolution, or some other funding measure, the service won't be able pay its 50,000 retirees on February 1.

Read more: Billions of dollars of cocaine are smuggled into the US by sea every year, and the Coast Guard says it can only stop one-quarter of it

Measures have been introduced to Congress to pay the Coast Guard amid the government closure.

The Pay Our Coast Guard Act was reintroduced to the Senate on January 4 and assigned to the Senate legislative calendar. The Pay Our Coast Guard Parity Act was introduced in the House of Representatives on January 9 and is with the Appropriations and Transportation and Infrastructure committees.

Coast Guard Oregon capsize rescue

Those measures would have be approved by the other house of Congress and by the president in order to go into effect. On Tuesday, Homeland Security Secretary Kirstjen Nielsen said she was working with the White House and Congress on legislation to fund the service.

"Like the other branches of the U.S. military, active duty @USCG should be paid for their service and sacrifice to this nation," Nielsen said on Twitter.

Read more: The Coast Guard is about to miss a paycheck because of the government shutdown, but its members are still doing missions

Despite support from each other and their communities, Coast Guard families around the country are feeling the strain.

"This is talking an emotional toll on us and all the families here at Fort Wadsworth," Rebeca Hinger, a Coast Guard spouse and mother of three, told Staten Island Live this week. "Many of us here ... live paycheck-to-paycheck, and without money we can't pay our bills."

SEE ALSO: The Coast Guard turned down a request for an Arctic exercise out of concern the US's only heavy icebreaker would break down and Russia would have to rescue it

Join the conversation about this story »

NOW WATCH: Inside the Coast Guard's 8-week boot camp where recruits go through extreme physical tests and brutal 'smoke sessions'

You may know footwear startup M.Gemi for its colorful loafers — but here's why its ankle boots are the real standout

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The Insider Picks team writes about stuff we think you'll like. Business Insider has affiliate partnerships, so we get a share of the revenue from your purchase.

Corsa boots m.gemi

  • Italian footwear startup and direct-to-consumer brand M.Gemi makes some of the highest quality footwear you can find at a fraction of typical retail prices.
  • You may know of it because of their Instagram-famous loafers, but the $348 Corsa ankle boots are one of their standout styles.
  • I tried the buttery-smooth leather version, and I’m never going back to my Sam Edelmans. 

There’s a chill in the air that smells distinctly crisp and fresh. The trees are officially turning and the leaves are beginning to dance to the ground. Soon, they’ll be dry and crunchy beneath your feet, just begging to be stepped on.

All this to say that it’s finally time to break out the cozy knit sweaters, hot apple cider (superior to the PSL in every way), and fashion’s most gracious offering to our feet: ankle boots.

Ankle boots, in my opinion, are the white sneakers of cold weather. A good pair with a walkable heel height can be worn for pretty much any activity and with almost any outfit. But if you asked me to dream up my perfect pair, I wouldn’t even bother — because Italian footwear startup M.Gemi has already made them.

Crafted in artisan Italian workshops with buttery soft leather or suede, The Corsa ankle boot is the most comfortable I’ve ever worn — and the most versatile, too. You may recognize the brand for its classic suede loafers, but if you ask me, its ankle boots are the real standout design.

The silhouette has a very subtle hint of '70s style with an elongated, fitted shaft and sleek sole. They are, in short, the perfect ankle boots for everyday wear, offering a hard-to-nail combination of form and function.

Corsa boots

The leather pairs come in deep black and saturated cognac. I got my black leather pair in my regular size, a 7.5, which was definitely the right call. When I first tried them on, I was surprised that they were as soft and pliable as they are — from the look of the photos on their website, I thought the shaft would be a lot stiffer and more likely to cause blisters at the top (which is where most boots tend to get me). Instead, they’re malleable enough to move with you as you walk, but thick enough to look and feel substantial. I’ve never gotten a blister from them, and their wearability straight from the box is just one thing that makes them so worthy of their $348 price tag.

Read moreWhy M.Gemi's Stellato Sacchetto flats are sure to sell out again this fall

The heel height is also totally manageable at just over two inches, which means I can run around the city and walk around the office without wanting to scream. I have no patience for discomfort on my commute in particular (why torture my feet when taking the subway is hellacious enough?), and these adhere to my strict rule of footwear in which I could run to catch a train if needed.

Corsa boots

The boots come in both leather and suede, the former of which has two heel options: wrapped in leather, or stacked and exposed. I have the leather-wrapped pair (which I find to be a little more versatile for dressing up and down), but the stacked heel is a great option for anyone who’s concerned about scratches or wants something a little more casual.

The richly colored suede pairs do have suede-wrapped heels, which look stunning, but are much more prone to show signs of wear. If you’re one of those rare, magical women who knows how to keep suede boots clean, I don’t think you could possibly regret getting a suede pair. 

Overall, I can’t recommend these boots enough to anyone who feels they’re within a reasonable price range. Though they’re not cheap, the quality is the same as any pair you’d get from Prada or another luxury brand — just at a drastically lower price. And if you decide you don’t love them or you need another size, you can take advantage of their complementary return or exchange program.

M.Gemi Corsa Leather Boots, $348

M.Gemi Corsa Suede Boots, $348

Join the conversation about this story »

William Barr said he would not carry out an order from Trump to fire Mueller without cause

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William Barr confirmation

  • Attorney general nominee William Barr said Tuesday that if President Donald Trump asked him to terminate the special counsel Robert Mueller without cause, he would not carry out that order.
  • Barr also committed to providing Mueller with the resources, funding, and time needed to complete the FBI's Russia investigation.
  • When asked whether he would recuse himself in light of a controversial memo he wrote criticizing Mueller last year, Barr said he would seek the counsel of Justice Department ethics officials but did not commit to following their advice.

William Barr, President Donald Trump's pick for attorney general, said Tuesday that if Trump asked him to fire the special counsel Robert Mueller without cause, or to tear up the special counsel regulations, he would not do so.

Barr's comments came as Delaware Sen. Chris Coons grilled him about how he would respond if the president pressured him to shut down the ongoing Russia investigation.

Throughout his line of questioning, Coons drew several parallels between Trump's efforts to exert control over the Justice Department and former President Richard Nixon's actions during the Watergate investigation.

"Most famously, when directed by President Nixon to fire the special counsel — the prosecutor investigating Watergate — [Attorney General Elliott Richardson] refused and resigned instead, as we all well know," Coons said. "If the president directed you to change [the special counsel regulations] and then fire Mueller, or simply directly fire Mueller, would you follow Richardson's example and resign instead?"

Barr said that assuming there was no good cause to fire Mueller, "I would not carry out that order."

Barr's highly anticipated confirmation hearing kicked off on Tuesday. The former attorney general under President George H. W. Bush, Barr attracted sharp scrutiny from Democrats on the Senate Judiciary Committee over a memo he wrote last year where he argued that Mueller's obstruction-of-justice investigation into Trump is "legally unsupportable" and should not be sanctioned by the Justice Department.

On Tuesday, Barr said he wrote the memo — which he sent to the White House, the Justice Department, and lawyers representing other defendants in the Russia probe — because he was concerned Mueller's obstruction investigation was based on an overly broad interpretation of the law and could have far-reaching ramifications down the road.

When he was pressed on how he would oversee Mueller's investigation, Barr said he would ensure that the special counsel regulations were maintained and that he would also make sure Mueller had the resources, funding, and time needed to complete the Russia investigation.

Read more: William Barr says it would be a crime for Trump to pardon someone in exchange for their silence

"Will you commit to ensuring special counsel Mueller is not terminated without good cause consistent with the department regulations?" asked California Sen. Dianne Feinstein.

"Absolutely," Barr replied.

He added that if he denied Mueller any resources or other requests, he would notify Congress of the matter. Asked whether he would commit to making any report Mueller produces available to Congress and the public, Barr said, "I am going to make as much information available as I can consistent with the rules and regulations that are part of the special counsel regulations."

When lawmakers asked Barr whether he would recuse himself from overseeing the Russia probe in light of the memo he sent last year, Barr said he would seek the advice of Justice Department ethics officials but did not commit to following their advice.

SEE ALSO: Trump's lawyers want to review and edit Mueller's report before it's out. William Barr said there's no way he'll allow that.

Join the conversation about this story »

NOW WATCH: MSNBC host Chris Hayes thinks President Trump's stance on China is 'not at all crazy'

People are disappointed in Rihanna's Savage X Fenty for selling lingerie they say isn't as sexy in larger sizes

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Savage x Fenty

  • Some Twitter users are pointing out discrepancies between items in Rihanna'slingerie line, Savage X Fenty, based on their size.
  • On Wednesday, fashion blogger Alysse Dalessandro asked why Savage X Fenty seemingly designed its smaller-sized bras differently than those sized 1X through 3X, specifically pointing to the variation between the brand's "Hearts Unlined Bra" and "Hearts Half Cup Bralette."
  • Others pointed out differences between the advertisements for the two items, such as how the models were posed.
  • Instagram user Ashleigh Tribble, who has frequently spoken out against Savage X Fenty, told Teen Vogue that "other brands that cater to plus-sizes have no problem creating the same, or even sexier, lingerie."
  • However, some defended Savage X Fenty, saying that the bras had to be designed differently to avoid compromising factors such as comfort, price, and practicality. 

Rihanna has become a driving force of equality and inclusivity in the beauty and fashion worlds.

Her makeup brand, Fenty Beauty, has pushed boundaries since its first launch, offering more than 40 shades of foundation and 50 shades of concealer. Her Savage x Fenty lingerie line has received equal praise, with many customers calling it inclusive of varying skin tones and representative of different body types.

But not everyone agrees.

Some Twitter users have been questioning design differences in Savage X Fenty's Valentine's Day Decadence collection

On Wednesday, fashion blogger Alysse Dalessandro began a Twitter thread where she questioned the variation in the design of items in Savage X Fenty's Valentine's Day Decadence collection.

According to Dalessandro, bras intended for sizes S through XL were designed with cutouts and straps, while those meant for sizes 1X through 3X looked more like a traditional, sheer bras. She also included photos of the two designs.

Dalessandro specifically wondered why the "Hearts Unlined Bra" and "Hearts Half Cup Bralette" were designed differently.

fentyIn her original tweet, Dalessandro said that she "understands construction cannot always be the same for plus size" lingerie, but "know[s] you can do strappy bralettes in plus."

She also included examples of other brands who have created strappy bras in larger sizes, such as Cacique and Torrid.

Speaking to INSIDER, Dalessandro said that she wrote the original tweet to "draw attention to the inconsistency with that one item," and show that more customers wanted "sexier options too." 

"A lot of people have pointed out they think that the straight size bra would not work for plus-size women," Dalessandro said. "I think that's not recognizing all of the ways that personal style and body type vary by person. [...] Not everyone cares about support. That's a personal choice."

Dalessandro also said that she felt as though the lingerie brand decided what would work best for its customers, without actually taking their wants and needs into consideration.

"The issue I took is that Savage X Fenty didn't give us, as plus-size consumers, a chance to decide if we would wear the half cup bra," Dalessandro said. "They decided for us that a thicker-strapped and more covered-up version would be what we wanted."

Instagram user Ashleigh Tribble has also frequently spoken out against the brand, most recently in an interview with Teen Vogue.

"I've dealt with people trying to shut me up about it, trying to get me to 'wait until the next launch,' and accusing me of being jealous for not being recognized or supported by the brand in the way that others are," Tribble told Teen Vogue. "Other brands that cater to plus-sizes have no problem creating the same, or even sexier, lingerie for plus-sizes."

She also pointed out in a recent Instagram post from Friday that she has been critical of Fenty X Savage for its apparent design differences since the brand launched in May 2018.

While some items from Savage X Fenty's collection feature major design differences, others have more subtle variations

The "Lips Babydoll" set, for example, appears to be slightly different. Whereas the tops in the S through XL sets appear to include a single bow, the 1X through 3X sets appear to use two bows.

The larger-sized set also appears to be longer than those made in smaller sizes.

savagefenty

Still, INSIDER reviewed the full holiday collection and found that no two items appear to be identical at the time of publication.

With reference to the "Hearts Unlined Bra" and "Hearts Half Cup Bralette" specifically, Dalessandro said she wanted to create a "comparison of the two main product shots and a question about why they couldn’t have made the plus version more strappy."

But the blogger said that she didn't expect Savage X Fenty to create identical items. Instead, she hoped that the brand would make products that looked similar for different size groups. 

"I never said [Savage X Fenty] should've made the same bra in their full size range," Dalessandro told us. "But they could've made something more similar. The lack of straps on the plus-size bralette, and how much more covered-up it is, were the two things that really made it feel different to me."

Read more: Rihanna appears to subtly show her disapproval after Victoria's Secret exec apologizes for making 'insensitive' comment about transgender models

While some Twitter users said that sizing is an industry-wide problem, others questioned why some models, particularly those wearing the brand's larger sizes, were posed differently

Some models were pictured with their arms crossed, partially covering their bodies throughout the Valentine's Day advertisements.

Others defended Savage X Fenty by saying that different size groups require different design techniques

Some Twitter users felt that Dalessandro's argument was invalid, saying that Savage X Fenty might have designed styles differently for varying size groups in order to create more supportive bras and higher quality products.

This is not the first time that Savage X Fenty has been called out by customers

Currently, Savage x Fenty sells bras in sizes 32A to 44DD, and offers all other lingerie in sizes XS to 3X. But when the brand first launched in May 2018, some shoppers argued that the lingerie line wasn't inclusive enough.

You can find the full Valentine's Day Decadence collection on the Savage X Fenty website.

Representatives for Savage x Fenty and Ashleigh Tribble did not immediately reply to INSIDER's request for comment.

Visit INSIDER's homepage for more.

Join the conversation about this story »

NOW WATCH: Saturn is officially losing its rings — and they're disappearing much faster than scientists had anticipated

How the retail industry will top $5.5 trillion by 2020 (TGT, WMT, AMZN)

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The future of retail is looking bright.The future of mobile commerce

So bright that Business Insider Intelligence, Business Insider’s premium research service, expects the industry to top $5.5 trillion by 2020!

While in-store and desktop purchases are certainly helping the retail industry boom, the biggest factor for this incredible growth is in your pocket.

Find out why the smartphone will be crucial for retailers in 2018 and beyond with the first part of a brand new slide deck from Business Insider Intelligence called The Future of Retail: Mobile Commerce.

Here are some of the key takeaways:

  • US retail is growing $200 billion year-over-year
  • In-store retail is still dwarfing e-commerce
  • But e-commerce is growing almost 4x faster than in-store
  • Mobile commerce is driving most of that growth
  • And much more

To get your copy of the first part of this FREE slide deck, simply click here.

Join the conversation about this story »


We tried the Ori Pocket Closet — a smart, expanding walk-in closet for small spaces

You can stream the Super Bowl online for free — here's how

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Tom Brady New England Patriots

It's easy to stream the Super Bowl even if you don't have a cable or satellite subscription.

It's airing on CBS over-the-air and it's also going to be available through CBS All Access, an online streaming service.

Click here to watch in your browser. 

CBS All Access costs $6 per month, but it offers one week trials for free— enough time to stream the Super Bowl. Just don't forget to cancel after the big game if you don't want to be charged for the next month.

The game kicks off on Sunday, February 3, at 6:30 p.m. ET in Atlanta, Georgia. 

You can also stream the game through the CBS All Access app for iPhones, iPads, Android, Apple TV, Google Chromecast, Amazon Fire TV, PS4, Roku, and Xbox. You can also watch through the Yahoo Sports app

The CBS streams are US-only. If you live in the UK, streams will be available from BBC and Sky Sports. In Canada, it will be aired on CTV, and available through the CTV Go app. The NFL will also host radio streams in various foreign languages.  

The matchup hasn't been finalized yet, but it will feature either the New England Patriots or the Kansas City Chiefs representing the AFC against either the LA Rams or the New Orleans Saints from the NFC. 

SEE ALSO: 36 examples of Tom Brady's insane competitiveness

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NOW WATCH: How Apple went from a $1 trillion company to losing over 20% of its share price in 3 months

Rep. Steve King says he supports the congressional resolution condemning his own words on 'white supremacy'

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UNITED STATES - SEPTEMBER 07: Rep. Steve King, R-Iowa, attends a rally with Angel Families on the East Front of the Capitol, to highlight crimes committed by illegal immigrants in the U.S., on September 7, 2018. (Photo By Tom Williams/CQ Roll Call)

  • Republican Rep. Steve King is once again under fire for repeatedly making racist statements in public.
  • The House Republican leadership stripped King of all his committee assignments and condemned his remarks.
  • Democrats are now pushing resolutions of condemnation and censure on the House floor.

WASHINGTON — Embattled Republican Rep. Steve King of Iowa took to the House floor on Tuesday to address remarks he made that congressional leaders have condemned as racist, as well as a resolution rejecting white nationalism and white supremacy. 

King, who had all of his committee assignments stripped from him by the House Republican leadership Monday evening, vowed to support the resolution offered by House Majority Whip Jim Clyburn.

Read more: Rep. Steve King could be censured after asking why terms like white supremacist and white nationalist were offensive in an interview

The resolution "once again rejects White nationalism and White supremacy as hateful expressions of intolerance that are contradictory to the values that define the people of the United States" and was crafted in response to remarks made by King during an interview with the New York Times, in which he questioned how terms like "white supremacy" became offensive.

But King, who has remained defiant in the wake of calls for his resignation and the Republican leadership removing major legislative tools from him, voiced support for the resolution on Tuesday.

"I regret that we are in this place," King said. "I agree with every word that you have put in this. It's an honest and a direct resolution put together to address a subject that has been too long before the public dialogue in this country."

"I want to ask my colleagues on both sides of the aisle, let's vote for this resolution," he added. "I'm putting up a yes on the board here."

King, whose words spurred a Republican primary challenger against him, also tried to offer context to the controversial remarks, saying "that ideology never showed up in my head" and that he actually rejects racism and bigotry. 

The resolution passed 424-1, with Democratic Rep. Bobby Rush of Illinois casting the only vote against it, citing his belief it is too "shallow" and a more forceful resolution is necessary.

During a press conference Tuesday morning, House Republican Conference Chairwoman Liz Cheney said King should "find another line of work," insinuating he should resign from Congress.

While other Republican leaders did not go that far in public statements, they removed King from his post heading a subcommittee on the House Judiciary Committee, in addition to all of his other assignments.

The Clyburn resolution broadly condemning white supremacy and white nationalism is just one of multiple resolutions responding to King's latest comments, with others including much harsher punishment for the Iowa Republican. A resolution offered by Ohio Rep. Tim Ryan even includes a censure of King, one of the strongest punishments in Congress short of expulsion. 

SEE ALSO: Step aboard the little-known subway line below Capitol Hill that lawmakers use to get around

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NOW WATCH: MSNBC host Chris Hayes thinks President Trump's stance on China is 'not at all crazy'

The top 10 most expensive cities around the world, ranked

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  • Singapore reigns as the world's most expensive city for the fifth year in a row, based on a report by The Economist Intelligence Unit.
  • Seoul also kept its No. 6 ranking for the second consecutive year.
  • Asia remains the continent with the most expensive cities, closely followed by Europe
  • Since last year, European capitals Paris and Copenhagen have both moved up in ranking.

Asian and European cities led the list of most expensive cities around the globe in 2018.

That's according to the Economist Intelligence Unit's annual Worldwide Cost of Living report, which highlights the top 10 most expensive cities around the globe. The report uses more than 400 prices across 160 different products and services — including food, drink, clothing, and home rents — to calculate rankings.

Singapore has consistently held its No. 1 ranking since 2014, when it surpassed Tokyo, which had previously occupied the top spot nearly every year since 1992.

Read more: The same city has been ranked the most expensive city in the world for 5 years running, and it's partially because of the cost of buying a car

Several cities, including Tel Aviv and Seoul, have made massive leaps in the list over the last five years.

The report notes that while Asia accounts for many of the world's most expensive cities, it is also home to many of the cheapest cities as well, including Bangalore and New Delhi. Cities such as these tend to remain cheaper when experiencing political or economic disruption.

In past reports, American cities have appeared in the top 10, but New York City and Los Angeles currently top out at No. 13 and No. 14 respectively. According to the report, this is due, in part, to a weakening dollar when compared to other currencies.

Below, you'll find the 10 most expensive cities ranked from least to most expensive, along with their comparison ranking from last year.

SEE ALSO: Here's how much a bottle of wine costs in each of the world's 10 most expensive cities

Sydney, Australia

2018 city ranking by cost of living: 10

2017 city ranking by cost of living: 14



Tel Aviv, Israel

2018 city ranking by cost of living: 9

2017 city ranking by cost of living: 11



Copenhagen, Denmark

2018 city ranking by cost of living: 8

2017 city ranking by cost of living: 9



See the rest of the story at Business Insider

A man allegedly shipped a package with more than a pound of meth to Apple’s Grand Central Station store in New York and was arrested when he tried to pick it up (AAPL)

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  • Richard Dean Desain, a 32-year-old from Los Angeles, was arrested on July 9, 2018, after he allegedly tried to pick up a package of crystal methamphetamine that had arrived at Apple’s Grand Central Terminal store in New York City.
  • According to NYC special narcotics prosecutor Bridget G. Brennan, Desain was connected to “multiple large-scale shipments of methamphetamine to New York City and the surrounding area.”
  • After a nine-month investigation, a new indictment handed down Monday from the Manhattan Supreme Court said Desain “allegedly conspired to supply methamphetamine to New York City-based drug distribution networks from August of 2017 to July 9, 2018.”
  • Desain has been charged with conspiracy in the second and fourth charges, criminal sale of a controlled substance in the second degree, and criminal possession of a controlled substance in the second and third degrees.

Every day, thousands of people go to Apple's retail stores to pick up hot tech gadgets and other flashy products. 

But Apple's store in New York's Grand Central Station received a visitor seeking to pick up a different kind of merchandise this summer: More than a pound of meth, according to law enforcement officials. 

According to a press release issued by New York City's Special Narcotics Prosecutor on Monday, Richard Dean Desain, a 32-year-old from Los Angeles, was arrested at the Apple story in July when he allegedly arrived to pick up the shipment. According to the prosecutor, Desain had arranged for multiple shipments of meth “worth tens of thousands of dollars” to be distributed around the New York City area, though it's not entirely clear if one of the packages arrived at the Apple store by design or by accident.

At his arraignment on Monday, Desain pleaded not guilty; he is currently being held on $100,000 bail.

On July 7, 2018, an Apple employee at the Grand Central Terminal retail store opened a package addressed to “R De Sain” that, according to special narcotics prosecutor “ultimately proved to contain 559 grams (more than a pound) of methamphetamine.” According to Brennan’s office, someone had tried to reroute this package to a nearby Duane Reade pharmacy, but was unsuccessful.

The Apple store employee who discovered the package immediately reported it to the NYPD, and two days later, on July 8, Desain was arrested when he walked into the Grand Central Apple store while attempting to retrieve it. Brennan’s office says police recovered “an additional quantity of methamphetamine weighing more than 100 grams from his person" during the arrest.

Apple Meth

A new indictment was handed down Monday from the Manhattan Supreme Court — the culmination of a nine-month investigation — alleged that Desain had been arranging the shipments of crystal meth around New York City and the surrounding area, including New Jersey, using package delivery services. The shipping labels said the packages were from “Dean Desain” of “Dean’s List.”

Authorities say they had wiretapped at least one of Desain's phones, and intercepted text messages where Desain had sent information about pricing and “standard sizes.”

The indictment filed Monday charges Desain with conspiracy in the second and fourth charges, criminal sale of a controlled substance in the second degree, and criminal possession of a controlled substance in the second and third degrees. 

SEE ALSO: The best new technology we saw at CES 2019

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NOW WATCH: We put the 7 best smartphones of 2018 head-to-head and there was a clear winner for the best value

Nike has revealed a futuristic new self-lacing sneaker that's half the price of its original model as it charts a course for 'footwear to firmware' (NKE)

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  • Nike revealed a new shoe called the Nike Adapt BB on Tuesday. 
  • The shoe features the next generation of Nike's EARL self-lacing technology, as well as a companion app that can instantly change how the shoes fit using Bluetooth.
  • It will launch on February 17 and cost $350 — far cheaper than Nike's first self-lacing shoe.
  • Nike execs are calling the Adapt BB the start of the company's evolution from "footwear to firmware," with more self-lacing shoes on the way.

NEW YORK — "Say goodbye to the shoelace," Michael Donaghu, Nike's director of global footwear innovation, told a group of assembled media and influencers from a stage in the company's New York headquarters on Tuesday.

The presentation was held to reveal the Nike Adapt BB, the company's new version of a self-lacing shoe. It's a performance-focused and heavily upgraded version of Nike's first self-lacing shoe, the Hyperadapt 1.0, which was built for general consumers. 

The BB stands for "basketball," and the shoes were created to be played in, first and foremost.

The new shoe is all about fit, Donaghu said, which is something top of mind for these players.

The Adapt allows for minute changes in tightness through a companion app, leading to 40% more "lockdown" for feet in the sneaker. Unlike the Hyperadapt, which was controlled by physical buttons on the side of the shoe, the app is the only way to control how this new shoe fits.

Nike Adapt BB

The new shoe is targeted directly at basketball athletes, but that's a market that is shrinking, according to NPD analyst Matt Powell. Fewer people are playing basketball, Powell tweeted, and sales of basketball sneakers are expected to decline this year.

The Adapt BB is smart enough, however, to adapt to a wearer's foot at the touch of a button. The app also lets users change the color of the glowing twin dots on the midsole of the shoe to 14 different colors.

Nike will begin offering the Adapt BB in February for $350 — less than half the Hyperadapt's original price of $720. It comes with a wireless charging mat, which can charge the shoes in three hours for two weeks of wear time.

A shoe that can really connect

The new shoe is also connected, unlocking its potential beyond offering exact fit.

"We'rebeginningtotalkaboutmorethanjusttheproductitself," Donaghu said.

Read more: Nike says it's going to make cooler, cheaper sneakers as sales soar

Much of that functionality won't be available at launch or in this first iteration, but it's the start of where Nike is going with its tech-enabled footwear.

The Adapt can send data about usage and analytics back to Nike, should users allow that. The data could also eventually be used to track athletes' movement and performance, which Nike says can help it offer new products or services to customers.

Nike

"We are essentially putting in a mobile sport research lab on the feet of athletes all over the world," Donaghu said, adding that Nike will provide incentives to share this data.

Users can also update the firmware on the shoe, potentially unlocking additional functionality.

It's also the beginning of the Adapt platform, which Nike said it hopes to expand into running and lifestyle categories with different shoes. 

Nike allowed attendees hands-on experience with the shoe, along with a pre-paired smartphone for testing purposes. The first impression is that the adaptive lacing system is very comfortable, offering a very snug feeling. The interface is easy to use, and the shoes can get extremely tight.

The shoes were also surprisingly loud due to the speed at which the internal motors clamp down on the foot. For whatever reason, the experience was less disorienting than lacing up the Hyperadapt was.

Jayson Tatum of the Boston Celtics will debut the shoe in his team's game against the Toronto Raptors on Wednesday. 

SEE ALSO: Nike gave us a glimpse into the store of the future this year

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More Labour MPs join campaign to force Corbyn to back new Brexit referendum

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  • More Labour MPs come out for a second Brexit referendum in bid to pressure Labour leader into backing a People's Vote.
  • Jeremy Corbyn has resisted calls to back a second vote with aides suggesting the party could lose the next general election if they are forced into supporting one.
  • Labour has scheduled a no confidence vote in Theresa May's government for Wednesday evening.
  • However, Labour is forecast to lose the vote, heaping more pressure on Corbyn to get behind a referendum.

LONDON — More Labour MPs have declared their support for a new Brexit referendum as they battle to pressure Labour Party leader Jeremy Corbyn into throwing his weight behind a new public vote.

A group of 71 Labour MPs and 13 Members of the European Parliament gathered outside Westminster on Wednesday morning to call on Corbyn to back what campaigners call a People's Vote.

Labour MPs who were unveiled as new supporters of the campaign included former party leadership candidate Liz Kendall and senior MP Debbie Abrahams.

Other newcomers were Lillian Greenwood, John Grogan, Graham Jones, Stephen Morgan and Matt Western.

Not all Labour MPs who have declared support for a new referendum were on the list published on Wednesday morning. Pro-Remain sources in Labour say that in total over 100 Labour MPs support a new referendum.

The intervention came after the House of Commons roundly rejected Theresa May's Brexit deal on Tuesday evening.

In a signed statement, the group called on Corbyn to back a second vote at this "unprecedented an perilous moment in our history."

"We must try and remove this government as soon as possible," the MPs state.

"But the removal of the government and pushing for a general election may prove impossible, so we must join trade unions, our members and the majority of our constituents by then unequivocally backing the only logical option to help our country move forward: putting the decision back to the people for a final say."

The Labour leader is officially committed to leaving the option of a second referendum on the table but has so far resisted growing calls to explicitly back one.

Sources close to the Labour leader told Business Insider in December that the party had conducted private polling and focus groups in target marginal seats which suggested that the party could lose the next general election if they back a People's Vote.

Despite this Corbyn is under huge pressure to back a new referendum from a growing number of Labour MPs and the vast majority of the party's overwhelmingly pro-EU membership.

Labour's current Brexit policy — agreed at its most recent party conference — is to force a snap general election, win it, and then go ahead with the UK's exit from the EU on terms negotiated by a newly-elected Labour government.

However, if that fails, Labour is also committed to leaving all options on the table, including a "public vote" in the form of a second referendum.

The Shadow Chancellor John McDonnell said on BBC Radio 4 on Wednesday that while there was "strong support" in the party for another referendum, their priority was forcing an early general election.

The numbers announced today fall well short of those needed for a majority in the House of Commons for a second referendum.

Senior campaigners for a People's Vote told Business Insider last week that it's "game over" if the pro-referendum movement cannot persuade the Labour leader to get on board.

Read the statement from Labour MPs backing a People's Vote

This is an unprecedented and perilous moment in our history. With this Tory Government in chaos and with the jobs and security of our constituents on the line - we strongly support the Labour decision to reject Theresa May’s “deal”.

We were appalled at her anti-democratic moves to prevent Parliament having a vote, and to run down the clock by delaying it until mid-January. This was an utterly irresponsible decision, and gambling with the jobs and livelihoods of our constituents.

The Tory Government approach has been disastrous since day one. Their plans would lead to more austerity, fewer jobs and less money for our public services. This is not what anyone voted for in 2016.

We represent hugely diverse constituencies from the North to the South, from Wales to Scotland. Many of our constituencies voted to Leave in 2016. We must listen to and respond to the reasons why people did so. But we now face a moment of national crisis, where the facts and the views of many people have changed - and are continuing to change.

It is now clear renegotiation is not a realistic prospect. No deal would be a catastrophe which we must resolutely oppose. The Government should seek an extension to Article 50 to provide time for Parliament to find a way forward. Theresa May has failed to bring this country back together. Labour’s conference adopted a clear policy for this situation. We must try and remove this Government from office as soon as possible. But the removal of the Government and pushing for a General Election may prove impossible, so we must join Trade Unions, our members and a majority of our constituents by then unequivocally backing the only logical option to help our country move forward: putting the decision back to the people for a final say, in a public vote, with the option to stay and keep the deal that we have.

Defeat of the Tory deal in a public vote would give us all a chance to campaign for the antiausterity policies and a Labour government that deals with the true causes of the Brexit vote, and a reformed Europe that works for all people. MPs

1.Debbie Abrahams MP
2. Rushanara Ali MP
3. Tonia Antoniazzi MP
4. Luciana Berger MP
5. Rt Hon Margaret Beckett MP
6. Roberta Blackman-Woods MP
7. Ben Bradshaw MP
8. Karen Buck MP
9. Chris Bryant MP
10. Ruth Cadbury MP
11. Ann Clwyd MP
12. Ann Coffey MP
13. Neil Coyle MP
14. Mary Creagh MP
15. Alex Cunningham MP
16. Janet Daby MP
17. Geraint Davies MP
18. Stephen Doughty MP
19. Rosie Duffield MP
20. Louise Ellman MP
21. Mike Gapes MP
22. Kate Green MP
23. Lillian Greenwood MP
24. John Grogan MP
25. Rupa Huq MP
26. Margaret Hodge MP
27. Darren Jones MP
28. Maria Eagle MP
29. Susan Elan Jones MP
30. Julie Elliott MP
31. Graham Jones MP
32. Liz Kendall MP
33. Ged Killen MP
34. Peter Kyle MP
35. David Lammy MP
36. Chris Leslie MP
37. Seema Malhotra MP
38. Kerry McCarthy MP
39. Siobhan McDonagh MP
40. Pat McFadden MP
41. Conor McGinn MP
42. Alison McGovern MP
43. Anna McMorrin MP
44. Catherine McKinnell MP
45. Madeleine Moon MP
46. Stephen Morgan MP
47. Ian Murray MP
48. Albert Owen MP
49. Bridget Phillipson MP
50. Jess Phillips MP
51. Ellie Reeves MP
52. Rachel Reeves MP
53. Joan Ryan MP
54. Virendra Sharma MP
55. Barry Sheerman MP
56. Gavin Shuker MP
57. Tulip Siddiq MP
58. Andy Slaughter MP
59. Angela C. Smith MP
60. Owen Smith MP
61. Jo Stevens MP
62. Wes Streeting MP
63. Gareth Thomas MP
64. Stephen Timms MP
65. Anna Turley MP
66. Chuka Umunna MP
67. Matt Western MP
68. Martin Whitfield MP
69. Paul Williams MP
70. Phil Wilson MP
71. Daniel Zeichner MP

MEPs

1. Richard Corbett MEP (Leader of EPLP / Shadow Cabinet)
2. Derek Vaughan MEP
3. Seb Dance MEP
4. Paul Brannen MEP
5. Catherine Stihler MEP
6. Wajid Khan MEP
7. Julie Ward MEP
8. Clare Moody MEP
9. John Howarth MEP
10. Theresa Griffin MEP
11. Jude Kirton Darling MEP
12. David Martin MEP
13. Mary Honeyball MEP

SEE ALSO: Jeremy Corbyn calls vote of no confidence in Theresa May's government

DON'T MISS: Theresa May's historic defeat on her deal means a Brexit delay is almost certain

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NOW WATCH: MSNBC host Chris Hayes thinks President Trump's stance on China is 'not at all crazy'


Alexandria Ocasio-Cortez secures powerful House committee seat that gives her a huge say over Wall Street

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  • Rep. Alexandria Ocasio-Cortez tweeted that she got a spot on the powerful House Financial Services Committee.
  • The committee has broad authority to oversee big banks and financial services in the US, and debate new regulations.
  • It is rare for freshman members of Congress like Ocasio-Cortez to get seats on high-ranking committees.
  • Ocasio-Cortez has called for big banks to be broken up in the past.

New York Rep. Alexandria Ocasio-Cortez secured a spot on the House Financial Services Committee, the powerful House group that oversees Wall Street.

Ocasio-Cortez confirmed her appointment on Tuesday night on Twitter, saying: "Financial Services is one of just four exclusive committees in the House. It oversees big banks, lending, & the financial sector."

"I am very grateful for the opportunity to sit on this committee as a freshman, and look forward to working under the leadership of @RepMaxineWaters!" she added.

maxine waters

First-year members of Congress are rarely given places on high-ranking committees like this one.

The Financial Services Committee has formal responsibility to oversee the Federal Reserve and the Securities and Exchange Commission. It has regular opportunities to interrogate top US financial officials.

It is where the biggest reforms to US finance in over a century were put together, and it is virtually impossible to pass new bills about Wall Street without their input.

It is one of the key committees that gives banks their freedom, or reins them in.

The committee was crucial in the formation of the Dodd-Frank package of laws which dramatically reformed the US financial sector in the wake of the 2008 financial crash, and is named after former chairman Barney Frank.

jerome powell house financial services committee

With Ocasio-Cortez on the committee, it is completely plausible that in the near future the US public could see a democratic socialist publicly grill, for instance, the CEO of Goldman Sachs.

Ocasio-Cortez said on Tuesday night: "Personally, I'm looking forward to digging into the student loan crisis, examining for-profit prisons/ICE detention, and exploring the development of public & postal banking. To start."

She is also expected to advocate for higher scrutiny of financial firms, Bloomberg reported. She has rejected corporate campaign donations and called for big banks to be broken up in the past.

Read more:Wall Street should love the economic theory Alexandria Ocasio-Cortez backs — and that should worry the rest of us

Alexandria Ocasio Cortez

Ocasio-Cortez's appointment comes after she was left off the House Ways and Means Committee, which oversees many parts of US economy policy including spending, taxes, and revenue.

House Speaker Nancy Pelosi's Steering and Policy Committee offered the spot on the committee to New York Rep. Tom Suozzi, a 56-year-old, more fiscally conservative, Democrat instead.

Two key parts of Ocasio-Cortez's platform, Medicare for All and the "Green New Deal,"would need the Ways and Means committee's approval to become law.

Hawaii Rep. Tulsi Gabbard, who is running for president in 2020, is also expected to be given a place on the Financial Services committee, Bloomberg reported.

Read more:THE TRUTH ABOUT ALEXANDRIA OCASIO-CORTEZ: The inside story of how, in just one year, Sandy the bartender became a lawmaker who triggers both parties

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NOW WATCH: MSNBC host Chris Hayes thinks President Trump's stance on China is 'not at all crazy'

Apple CEO Tim Cook says he is inspired by the story of how an Apple Watch identified a user's clogged heart arteries

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  • Apple CEO Tim Cook responded to a story on Twitter about a man whose Apple Watch picked up on a major heart problem.
  • Cook said the story and others like it "inspire us."
  • This isn't the first time an Apple Watch has averted a medical crisis.

Apple CEO Tim Cook responded to a tweet from someone who said their husband's Apple Watch helped save his life.

Twitter user Elissa Lombardo tweeted at Cook on Friday, telling him that her husband's Apple Watch picked up his irregular heartbeat. He subsequently went to the ER and was discovered to have a blockage in his arteries.

According to Lombardo, he has now had two stents fitted, and thanked Cook. The CEO replied on Tuesday, saying he was glad to hear her husband was okay and that her story was an inspiration.

Apple released two updates for its watch late last year, designed to help users detect irregular heart rhythms and perform an electrocardiogram — a heart function test — from their wrist.

In 2017, health startup Cardiogram and the University of California San Francisco found that the wearable tech can detect an abnormal heart rhythm with 97% accuracy when paired with an AI-based algorithm.

In a separate study last year, Cardiogram and the University of California San Francisco revealed that the Apple Watch can also pick up hypertension, otherwise known as high blood pressure, and sleep apnea.

Lombardo's story isn't the first time an Apple Watch has taken the credit for averting a medical crisis. Last year, a 32-year-old man was alerted by his Apple Watch telling him to seek medical attention for what turned out to be a ruptured ulcer.

SEE ALSO: Apple has finally released a battery case for the latest iPhones, and it costs $129

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Prince Harry called himself 'a feminist' during a visit to a women's charity, and hugged or shook the hand of everyone there

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  • The Duke of Sussex has declared himself to be a feminist.
  • He made the comment on a visit to a women's charity in the north of England with his wife Meghan Markle.
  • The charity's CEO told INSIDER that the royal couple's visit was "life-changing."

Whilst the Duchess of Sussex is a famously outspoken proponent of gender equality, her husband has also now confirmed his support for women's empowerment.

On a royal visit to Tomorrow's Women Wirral, a women's charity based in the north of England, Prince Harry called himself a feminist.

Prince Harry and Meghan Markle

"We were just having a conversation about equality and Meghan had said that it's so important that men are behind us because it's an issue that we've all got to deal with," the charity's CEO, Angela Murphy, told INSIDER.

"He just turned to her and said, 'I'm a feminist.' And she said, 'yeah, yeah.'

"We all smiled because it was lovely to hear him say that in the forum we were in. It was lovely to hear him say it."

prince harry meghan markle women's charity

Murphy said that Prince Harry was clearly very comfortable with the declaration, and she was impressed that he just said it without being asked.

"It's showing his support for Meghan," Murphy added, explaining that he agreed with everything his wife was saying about the role men have to play in fighting for gender equality.

Prince Harry with women of the Tomorrow's Women Wirral charity

While the visit was led by the Duchess, Prince Harry's support was apparently clear, and he also made time to speak to every member of the charity's all-female staff.

"He made every woman in here feel very, very special," Murphy said. "He made sure he either hugged them or shook their hand, and he was so attentive to everybody, listening intently."

Read more: Meghan Markle reportedly told royal fans her baby is coming in April — the closest thing so far to an official due date

The impact of the royal visit cannot be understated for the charity.

"We've never had a royal visit here before and they just put everyone at ease," Murphy explained. "This is life-changing, we'll remember it forever, and the women know they've got a voice that's heard.

"The women were empowered by that couple being here. It was a truly amazing day."

Prince Harry talks to members of the Tomorrow's Women Wirral charity

It's not the first time Prince Harry's feminist credentials have been made public — on a royal visit to Cardiff, Wales in January 2018, Markle told a fan her then fiancé was a feminist: "He's a feminist too," she said.

The previous week, upon visiting a south London radio station, Prince Harry said: "As males we have to do our part or it's not going to work."

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NOW WATCH: We tried the Costco food court and it totally blew us away

A fund manager at $1.7 trillion Amundi Pioneer reveals how he's preparing in case stocks crash again — and outlines the risks that could plunge the market into chaos

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  • John Carey, a Boston-based fund manager at $1.7 trillion Amundi Pioneer, discusses his strategy for guarding against another stock crash.
  • He also outlines the market forces he's most closely watching in 2019, and discusses what's at stake as the market reaches a significant inflection point.

The stock market is at a key inflection point, and how earnings season plays out will go a long way towards determining whether investors will sink or swim in 2019.

So says John Carey, a Boston-based fund manager at Amundi Pioneer, which oversees $1.7 trillion. In a recent interview, he told Business Insider that the investment landscape has been flipped upside down by the volatility seen in late 2018, leaving stock-pickers like himself scrambling to sort through it all.

As a result of the chaos, Carey is doubling down on the core principles that normally inform his investing decisions. That means focusing on dividend-paying companies with good balance sheets— the types of stocks that normally thrive in an unstable, late-cycle environment.

To him, that's the best way to combat the type of runaway market that can lead to deep losses. In a scary-but-entirely-plausible scenario where equities suffer another sharp crash, he wants to be loaded up on fundamentally strong companies that can stand on their own two feet once the wreckage settles.

Read more: Goldman Sachs discovered an earnings-season strategy that can make a 24% return in just 6 days — here's what it is and how you can replicate it

"I’m going to be looking at balance sheets even more carefully, and emphasizing underlying earnings growth potential even more," Carey told Business Insider. "You want to make sure companies stay profitable and continue paying dividends, even if we head into a slump."

Given the recent violence in stocks, it seems to be a prudent approach. But until very recently, quality had taken a backseat to growth.

That's because mega-cap tech and other high-growth winners seemed unstoppable for so long, making performance-chasing investors a boatload of money over a multiyear period. When that was the case, it didn't really matter if a company's balance sheet was saddled with debt.

Now, given what's transpired, the pendulum may start swinging back the other way. Balance sheet strength could very well become a major concern for investors. That would favor people like Carey, who thrive during periods of turmoil due to the relative safety offered by their main stock picks.

Read more: Wall Street experts are ignoring major warning signs being flashed by the market — and their negligence could speed up the next stock crash

With all of that established, let's take a look at what's changed, and where we go from here. Here are the main issues Carey says will drive market action going forward:

Earnings growth

When it comes to earnings, Carey shares the same view held by much of Wall Street: It's not a question of if profit growth will slow — it's a matter of when, and how quickly. After all, the positive effect of the GOP tax law is wearing off, depriving stocks of a strong backstop.

Carey is most worried about earnings decelerating to an unforeseen degree. If that ends up being the case, he says all bets may be off.

"If there's a slowdown beyond what people expect, then all of a sudden people will look back at what the market was doing over the past quarter and realize that weak price action was legitimate," he said.

Political turmoil

When it comes to political strife, it's a pick-your-poison situation. There's the ongoing government shutdown, which is now the longest on record. And then there's President Donald Trump's trade war with China, which has raised for the better part of the last year.

"A deepening of the political crisis in Washington could make things unstable," Carey said. "The market doesn't like instability. That breeds uncertainty, which the market hates."

Mega-cap tech

If any specific part of the stock market is at a critical precipice, it's mega-cap tech. The likes of Facebook and Apple rode high for so long on the strength of the blistering growth they offered, but now the air is starting to seep out of the balloon.

Both companies — along with a handful of others — have warned that growth could slow this year, and the market has been ruthless and unforgiving with its response. Now the question becomes: Will they pick up where they left off, or is their growth story permanently tainted?

The answer to that could determine the direction of both tech stocks and the overall market.

"If you look at the performance through the middle of 2018, it was as if they were sucking the air out of the market and taking all the gains for themselves," Carey said. "Now that they’ve faltered, the question is whether there will be alternation into the value names and a broadening of interest, or if people will be scared of stocks in general and sell FANGs and not buy others."

A scenario where everything gets resolved

Given what's been outlined, one might conclude that Carey is bearish. But that's not the case. He's just wisely keeping an eye on all the negative forces that could further derail the market.

Carey acknowledges that if the headwinds above are resolved in satisfactory fashion, the nearly 10-year bull market could have much further to run. It's an outcome he's certainly not ruling out.

"Maybe things get settled in Washington, the government re-opens, and the trade situation gets figured out," Carey said. "Beyond that, if earnings are stronger, companies are more realistically optimistic with their forecasts, and investors regain some of their confidence, there's a possibility that things could turn around and bring people into the market."

SEE ALSO: JPMORGAN: One slice of the stock market is set to explode higher — here are the 5 reasons, and how you can get involved

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NOW WATCH: The equity chief at $6.3 trillion BlackRock weighs in on the trade war, a possible recession, and offers her best investing advice for a tricky 2019 landscape

Investors are paying a record price to safeguard against a stock-market meltdown — but there’s a more efficient strategy hiding in plain sight

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  • Investors are paying a historically large premium to buy stocks with low volatility instead of those with high volatility, according to UBS.
  • Keith Parker, the firm's head of US equity strategy, is recommending a cheaper, more familiar strategy to stay afloat in this turbulent market environment.

It's hard to fault investors who are nervous about the near-term future of the stock market. 

After all, they just experienced the worst year for equities since the financial crisis. And the scapegoats for the meltdown — which range from slowing earnings growth to trade disputes — are still very present.

Wall Street's fear is showing up in a number of ways beyond the beaten-down price of stocks. Over in the rates market, for example, traders don't expect the Federal Reserve to find the justification for rate hikes throughout 2019, according to probability data compiled by Bloomberg. 

UBS has identified another manifestation of investors' anxiety, found in the premium that they're paying for the most undisturbed stocks. According to Keith Parker, the firm's head of US equity strategy, there's a record 45% premium for stocks with low volatility versus high-volatility names. This factoid is derived from a comparison of the relative price-to-earnings ratios of both groups of stocks.

Screen Shot 2019 01 15 at 1.26.10 PM

Despite all you might have heard about a looming recession, Parker says it's still too soon in the cycle for investors to be forking out such a premium for the safest stocks.

His study of previous cycles drives his conviction that the ongoing expansion could continue well into 2020. On average, he said, the Institute of Supply Management's manufacturing index bottoms 26 months after it tops. It's only been five months since the index's most recent peak.

"We position to capitalize on underappreciated later cycle upside and leadership/momentum that we think is still relatively cheap while still accounting for the key risks as it relates to tariffs, decelerating growth, rising wages and margin sustainability," Parker said in a recent client note.

This alternative strategy involves staying overweight the healthcare and technology/software sectors instead of their defensive counterparts like consumer staples and utilities. 

His recommendation might sound familiar because it's precisely what has worked well for most of the nearly ten-year-long bull market. An investor who chased the momentum of major technology stocks and shunned concerns about their high valuations enjoyed sizeable returns. However, this strategy came under pressure last year as investors became concerned that tech giants were incapable of sustaining their rates of earnings growth.

While advocating that investors reconsider growth stocks, Parker is well aware of the risks to the market. In fact, he cut his year-end S&P 500 target to 2,950 from 3,200 in light of the painful fourth quarter. 

He further advocated that investors suss out high-quality companies, and buy stocks that can grow their dividends well above the market average.

SEE ALSO: MORGAN STANLEY: There's a corner of the market perfectly positioned to boom if Wall Street's worst recession fears come true

Join the conversation about this story »

NOW WATCH: The equity chief at $6.3 trillion BlackRock weighs in on the trade war, a possible recession, and offers her best investing advice for a tricky 2019 landscape

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