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Palestinians gather to watch Abbas address the UN. Photo: Abbas Momani/AFP/Getty Images

Palestinian President Mahmoud Abbas today called on President Trump to rescind his decisions on Jerusalem and Palestinian refugees in order to be able to act again as a mediator between Israel and the Palestinians during his speech today at the UN General Assembly.

Why it matters: The White House was closely following Abbas's speech and wanted to see if Trump's overture about the two state solution would be answered by Abbas. Abbas didn't answer it directly, but Palestinian officials say he had prepared several versions of the speech and, after Trump's press conference, decided to use the most moderate one, which didn't contain personal attacks against Trump.

The Palestinian President said he was optimistic at first about the Trump peace initiative, then added:

"But we were shocked by decision and actions he took that completely contradict the role of the U.S. in the peace process."

Abbas said in his speech that the Trump administration has reneged on all the U.S. commitments to the Palestinians and "undermined the two state solution."

"It is ironic that the American administration still talks about what they call the deal of the century. But what is left for the administration to give to the Palestinians? Humanitarian solutions?"

Abbas said in his speech the Palestinians will not accept "sole American mediation in the peace process" due to the Trump administrations recent decisions on Jerusalem, UNRWA and the Jewish settlements in the West Bank. He called on Trump to reverse those decisions.

Go deeper

Justice Department drops insider trading inquiry against Sen. Richard Burr

Sen. Richard Burr (R-N.C.) walking through the Senate Subway in the U.S. Capitol in December 2020. Photo: Stefani Reynolds/Getty Images

The Department of Justice told Sen. Richard Burr (R-N.C.) on Tuesday that it will not move forward with insider trading charges against him.

Why it matters: The decision, first reported by the New York Times, effectively ends the DOJ's investigation into the senator's stock sell-off that occurred after multiple lawmakers were briefed about the coronavirus' potential economic toll. Burr subsequently stepped down as chair of the Senate Intelligence Committee.

Netflix tops 200 million global subscribers

Illustration: Rebecca Zisser/Axios

Netflix said that it added another 8.5 million global subscribers last quarter, bringing its total number of paid subscribers globally to more than 200 million.

The big picture: Positive fourth-quarter results show Netflix's resiliency, despite increased competition and pandemic-related production headwinds.

Janet Yellen plays down debt, tax hike concerns in confirmation hearing

Treasury Secretary nominee Janet Yellen at an event in December. Photo: Alex Wong via Getty Images

Janet Yellen, Biden's pick to lead the Treasury Department, pushed back against two key concerns from Republican senators at her confirmation hearing on Tuesday: the country's debt and the incoming administration's plans to eventually raise taxes.

Driving the news: Yellen — who's expected to win confirmation — said spending big now will prevent the U.S. from having to dig out of a deeper hole later. She also said the Biden administration's priority right now is coronavirus relief, not raising taxes.