The Republican Party on Wednesday secured control of the US House of Representatives, after razor-thin margins prolonged the announcement of the final results of last week's midterm elections.
The victory saw Republicans clinch 218 seats, the number needed to secure a majority in the 435-seat chamber. Their advantage could grow further, as counting has still not been completed for seven too-close-to-call seats.
Control of the House, albeit with only a small majority, is hugely significant for Washington as the Republicans will be able to block President Joe Biden's legislative agenda.
The party in opposition usually makes bigger gains in the midterms and many commentators and pollsters made similar predictions this time. But voters confounded expectations, shunning candidates backed by former president Donald Trump, whose endorsement frequently turned into more of a hindrance than a help.
"In this election, voters spoke clearly about their concerns: the need to lower costs, protect the right to choose, and preserve our democracy," Mr Biden said in a statement after the news on Wednesday.
"The future is too promising to be trapped in political warfare. The American people want us to get things done for them."
Republicans on Tuesday voted to nominate California's Kevin McCarthy, the House minority leader since 2019, as the party leader in the chamber.
Mr McCarthy won a secret ballot on a 188-31 vote, defeating a challenge from Andy Biggs of the far-right, Trump-affiliated Freedom Caucus. He will replace Democratic Speaker Nancy Pelosi.
"I congratulate Leader McCarthy on Republicans winning the House majority, and am ready to work with House Republicans to deliver results for working families," Mr Biden said.
The Republican Party on Wednesday also re-elected veteran Senator Mitch McConnell as its leader in the upper chamber.
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Profile box
Founders: Michele Ferrario, Nino Ulsamer and Freddy Lim
Started: established in 2016 and launched in July 2017
Based: Singapore, with offices in the UAE, Malaysia, Hong Kong, Thailand
Sector: FinTech, wealth management
Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021
Current staff: more than 160 employees
Stage: series D
Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Abu Dhabi GP schedule
Friday: First practice - 1pm; Second practice - 5pm
Saturday: Final practice - 2pm; Qualifying - 5pm
Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
