May 25, 2017

Ryan says Congress will move up deadline on debt ceiling

Andrew Harnik / AP

House Speaker Paul Ryan told investors Thursday that Congress will move up its deadline to raise the debt ceiling to avoid an economic default, reports AP. Congress was initially expected to vote on the debt limit this fall.

"The debt ceiling issue will get resolved." โ€”Paul Ryan

Timing: His reassurance comes a day after Treasury Secretary Mnuchin warned that Congress needs to vote to raise the nearly $20 trillion ceiling before their August recess.

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What to watch in tonight's Democratic debate

Bernie Sanders at a campaign rally in Colorado. Photo: Helen H. Richardson/MediaNews Group/The Denver Post via Getty Images

Bernie Sanders is now the clear front-runner for the Democratic presidential nomination, and his opponents are ready to try to knock him down at tonight's debate in Charleston, South Carolina โ€” especially Michael Bloomberg, who was the punching bag at the Las Vegas debate.

Why it matters: This is the last debate before Super Tuesday, when Sanders is expected to win California and Texas and could secure an insurmountable lead for the Democratic nomination. That's a direct threat to the entire field, but especially to Bloomberg, who skipped the early states to focus on the March 3 contests.

Bob Iger to step down as CEO of Disney

Photo: Jeff Kravitz/FilmMagic

The Walt Disney Company said Tuesday that it had named longtime Disney executive Bob Chapek as CEO Bob Iger's successor, effectively immediately. Iger will remain executive chairman of the company through 2021.

Why it matters: Iger is credited with having successfully turned around Disneyโ€™s animation and studio businesses and with the strategic acquisition of Marvel, Pixar, Lucasfilm and 21st Century Fox. Most recently, he was the person behind Disney's successful launch of its Netflix rival Disney+.

Go deeperArrowUpdated 3 hours ago - Economy & Business