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<ul class="summary-list"><li>Members of Congress are required by law to disclose their <keyword id="11911182" type="UNKNOWN" weightage="60" keywordseo="stock" source="Orion">stock</keyword> trades.</li><li>But some lawmakers' disclosures are almost impossible to read.</li></ul>The good news: Rep. <keyword id="12004925" type="UNKNOWN" weightage="60" keywordseo="ro-khanna" source="Orion">Ro Khanna</keyword> this week did better than <a href="https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9">many of his congressional colleagues</a> when he complied with <a href="https://www.businessinsider.com/stock-act-congress-trading-stocks-investing-2022-3">federal conflicts-of-interest law</a> by submitting timely documents detailing more than 800 recent stock trades made on behalf of his wife, <keyword id="13936350" type="UNKNOWN" weightage="60" keywordseo="ritu-khanna" source="Orion">Ritu Khanna</keyword>, and their dependent children.The bad news: Most of the California Democrat's disclosures are all but unreadable, more closely resembling black blotches of ink than actual words and numbers.Khanna's disclosures, <a href="https://www.documentcloud.org/documents/22004638-khanna-disclosure-may-6-2022">such as they are</a>, underscore how some members of Congress continue to struggle with the most foundational aspect — transparency — of the <a href="https://www.businessinsider.com/stock-act-congress-trading-stocks-investing-2022-3">Stop Trading on Congressional Knowledge (STOCK) Act of 2012</a>.Their blurry, garbled, or otherwise haphazard disclosures come as Congress is actively debating whether to ban lawmakers and their families from trading individual <keyword id="11893878" type="UNKNOWN" weightage="60" keywordseo="stocks" source="Orion">stocks</keyword> altogether, prompted in part by Insider's "<a href="https://www.businessinsider.com/conflicted-congress-key-findings-stock-act-finances-investing-2021-12">Conflicted Congress</a>" project, which revealed numerous <a href="https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9">STOCK Act</a> <a href="https://www.businessinsider.com/congress-staff-violated-stock-act-conflicts-of-interest-possible-2021-12">violations</a> and <a href="https://www.businessinsider.com/congress-members-are-trading-defense-stocks-while-shaping-military-policy-2021-12">conflicts</a> <a href="https://www.businessinsider.com/lawmakers-investing-in-crypto-as-congress-weighs-regulations-2021-12">of</a> <a href="https://www.businessinsider.com/lawmakers-bought-sold-covid-19-related-stocks-during-pandemic-2021-12">interest</a> among federal lawmakers.Other lawmakers joining Khanna in submitting less-than-transparent financial disclosures include Rep. Doris Matsui, a fellow Democrat from California, who filed a 2020 annual financial disclosure that pushes the boundaries of legibility.<div type="image" title="A financial disclosure from Rep. Doris Matsui, a Democrat of California" height="1068" width="1854" msid="91566124" hostid="261"></div>The most recent annual financial disclosure of Rep. Michael Guest, a Republican from Mississippi, requires extreme magnification to begin deciphering its abbreviation-riddled line items. <div type="image" title="A financial disclosure from Rep. Michael Guest, a Republican from Mississippi" height="1504" width="1914" msid="91566126" hostid="261"></div>Rep. Fred Upton, a Republican from Michigan, discloses his personal finances using pen and paper, often scratching out mistakes and leaving handwritten notes — his penmanship is distinctive — in the margins.<div type="image" title="A financial disclosure from Rep. Fred Upton, a Republican from Michigan" height="1530" width="1980" msid="91566128" hostid="261"></div>And for reading disclosures from Rep. <keyword id="13174266" type="UNKNOWN" weightage="60" keywordseo="kurt-schrader" source="Orion">Kurt Schrader</keyword>, a Democrat from Oregon, it may help to have a cryptographer on hand.<div type="image" title="A financial disclosure from Rep. Kurt Schrader, a Democrat from Oregon" height="1558" width="2062" msid="91566130" hostid="261"></div>"Publishing information in difficult to use formats defeats transparency and accountability, which is a main enforcement mechanism by which the law works," said Daniel Schuman, policy director for the nonpartisan <a href="https://demandprogresseducationfund.org/about/">Demand Progress Education Fund</a>, which advocates for government transparency. "Publishing financial documents without the data is secrecy through obscurity and a form of transparency theater that fails to serve the public interest."For Khanna, the congressman has "filed every month on time the same way in his five years in Congress and is always in full compliance," spokesperson Marie Baldassarre said. "He is committed to transparency and looking into options to make it easier to read the scan of his disclosure forms in the future. The originals he files are always very legible."Baldassarre declined to comment on whether the Clerk of the US House of Representatives, an office in Congress that processes and publishes congressional financial disclosures, is at fault for Khanna's blocky, blurry financial documents.Clerk of the US House of Representatives Cheryl Johnson did not respond to messages left with her office. It is the "expectation" of the Committee on House Administration, which oversees the Clerk of the US House of Representatives, "that disclosure documents are displayed in a way that is accessible and beneficial to the public," a spokesperson said in a statement. The Committee on House Ethics, not the Clerk of the US House of Representatives, alone has the power to reject an inadequate financial disclosure made by a lawmaker or congressional staffer — a move that would be highly unusual for the committee, which has taken a <a href="https://www.businessinsider.com/congress-stock-act-violations-penalties-consequences-2021-12">decidedly permissive approach</a> to enforcing the STOCK Act.Members of Congress are allowed to disclose their stock trades one of two ways: digitally, using a congressionally approved online filing system, or on paper, using a pre-printed form, as Khanna does. In <a href="https://ethics.house.gov/sites/ethics.house.gov/files/documents/FINAL%202021%20FD%20Instructions.pdf">formal guidance</a> to lawmakers last year, the House Committee on Ethics said it "strongly encourages" filers to utilize the online system because it "can significantly increase the accuracy" of personal financial filings.Electronic filings made through the House's online system are also easier for the public and press to analyze. Handwritten or scanned paper financial disclosure documents are generally not machine readible, and therefore, they require people to manually interpret and input members of Congress' financial data into a homespun database.Last year, Insider did exactly this, compiling, analyzing and fact-checking hundreds of US House and Senate financial disclosures to create a <a href="https://www.businessinsider.com/search-congress-personal-finances-with-insiders-exclusive-database-2021-12">searchable, sortable, and near-complete accounting</a> of members of Congress' personal finances. The process took hundreds of hours.Baldassarre previously noted that Khanna himself doesn't trade stocks — only his wife does — and that the congressman "supports a ban on stock trading that applies also to spouses."In the meantime, keen eyesight, digital enhancements, or an old-school magnifying glass may be required to determine what Khanna's wife is buying and selling. On April 22, for example, it <a href="https://www.documentcloud.org/documents/22004638-khanna-disclosure-may-6-2022">appears</a> that Khanna's dependent children had between $50,000 and $100,000 each in Pfizer, Walt Disney, Meta Platforms, and Bank of America stock purchased on their behalf, among numerous other stocks.Ritu Khanna also reported <a href="https://www.businessinsider.com/russia-ukraine-congress-stocks-investments-2022-3">purchasing</a> up to $15,000 worth of stock in <keyword id="13248929" type="UNKNOWN" weightage="60" keywordseo="yandex" source="Orion">Yandex</keyword>, a Russian internet company, a few weeks before Russia invaded Ukraine.

Some members of Congress are submitting comically illegible stock-trade disclosures &mdash; and nobody on Capitol Hill is doing anything about it

<ul class="summary-list"><li>Ritu Arya stars in the new action movie "Polite Society," which is in theaters now.</li><li>Arya, who also plays Lila in "The Umbrella Academy," is "heartbroken" the Netflix show is ending.</li></ul>British rising star Ritu Arya has a busy year ahead of her.The actor is currently filming the <a href="https://www.insider.com/the-umbrella-academy-season-3-what-happened-characters-2022-6">final season of "Umbrella Academy,"</a> the hit Netflix show that brought her to international attention as time-traveling assassin Lila Pitts. And this summer, she will appear in one of the <a href="https://www.insider.com/barbie-movie-cast-who-they-play-margot-robbie-ryan-gosling-2023-4#ritu-arya-plays-a-journalist-barbie-who-has-won-a-pulitzer-prize-9">most anticipated movies of the year, "Barbie."</a>But first, Arya takes on a lead role in the action comedy "Polite Society," which hits theaters on Friday.In the movie, Arya plays Lena, a struggling artist who decides to give up on her dreams and marry a man (Akshay Khanna) who seems too good to be true. But Lena's younger sister Ria (Priya Kansara), a martial artist, plans to crash the wedding and save her sibling from a life she does not want.Fusing martial arts and saris, "Polite Society" is one of the few movies released this year to feature all-South Asian lead actors and is already impressing critics with a 91% fresh rating on <a href="https://www.rottentomatoes.com/m/polite_society">Rotten Tomatoes</a>.Here, Arya speaks to Insider about "Polite Society," her thoughts on "Umbrella Academy" ending, and how she would up working alongside Margot Robbie in <a href="https://www.insider.com/watch-the-teaser-trailer-for-greta-gerwigs-barbie-2022-12">Greta Gerwig's "Barbie."</a><div type="image" title="Priya Kansara and Ritu Arya in &quot;Polite Society&quot;" height="800" width="1070" msid="99847943" hostid="261" sizebytes="52598"></div>What is great about the film is the sibling bond between Ria and Lena, even when they are fighting. Did you draw on any of your own sibling relationships to prepare for the role?I have two brothers, one younger and one older. So, no matter what, I definitely know what it's like to have sibling rivalry and just unconditional love as well.I have this responsibility as an older sister — and actually as a younger sister, too — but sometimes it can feel a little bit of a burden when I feel like I always want to show that I'm doing well. And if I'm not, then there's sort of this shame because I want him to look up to me as this great role model. I think that's also a really interesting thing that I felt with the film as well.The fight scenes in the movie are epic. I heard that you were able to bring some moves over from "The Umbrella Academy." Have you adopted a favorite fight move from either project?I quite like things being really detailed and specific and technical, which wasn't really so much Lena's style of fighting. They kind of wanted her to be more of like a Terminator — a bit more gritty and just headbutts and kicks, and just driven. There's one move where I kick Ria through the door and they had her on a wire and she just goes so far, and it made me feel very strong. That was really cool.I bet you felt powerful! Were there any scenes that you felt were really difficult? During that fight scene at the end, Lena says she's not good enough. That's a hard line to say because it's sort of taken from the truth and it's vulnerable. And so, that was a challenge — allowing myself to feel that. In the wedding scene, there are so many beautiful outfits. Do you have a favorite costume from this movie?100% the first costume. I'm in a massive hoodie and Mickey Mouse pajamas and it was so comfortable. I mean, the wedding dress is beautiful but an absolute pain, and it weighed so much. It looks really nice, but give me a hoodie any day and I'm very happy.You've just started filming the final season of "The Umbrella Academy." How do you feel about saying goodbye to your character, Lila, and the cast?I am heartbroken that it's ending. I'm not ready for it. I'm absolutely loving filming it this season. We are over halfway through filming and it sort of hit me yesterday. I was moping around being like, 'I just, I don't want it to end.' It's the best season yet in my opinion. So, I don't want to say bye to Lila, but everything good comes to an end. And new beginnings.<div type="image" title="David Castañeda as Diego and Ritu Arya as Lila in season three, episode 10 of &quot;The Umbrella Academy.&quot;" height="1446" width="1929" msid="99847946" hostid="261" sizebytes="38916"></div>A lot of fans love Lila's relationship with Diego (David Casteñada) in the series. Do you think there's a chance of a spinoff exploring where that story goes?No, I don't. I have no idea how these things work.You're also starring in the <a href="https://www.insider.com/simu-liu-agent-said-greta-gerwig-barbie-best-scripts-ever-2022-5">"Barbie" movie</a> this summer as journalist Barbie. What was it like auditioning and getting cast in the movie?It was pretty wild. I think <a href="https://www.insider.com/barbie-margot-robbie-and-greta-gerwig-girly-sleepover-2022-12">Greta Gerwig is one of my favorite directors</a>, so it was a dream come true. I absolutely loved working with her. I'm pinching myself to get to work with her and Margot Robbie, and I'm just really excited to see what the film turns out to be. It was such a surreal experience and I would just work with her again at the drop of a hat.I did a self-tape for a role, and then I didn't get that. And then they offered a different role later on, so I thought I wasn't gonna be a part of it. It was amazing when the offer came through weeks later, or a month later. You just never know what's gonna happen."Polite Society" is in theaters now.

'Polite Society' star Ritu Arya on auditioning for multiple 'Barbie' roles, the end of 'Umbrella Academy,' and kicking her on-screen sister through a door

<ul><li>RIL’s subsidiary <keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword> has invested in over seven private labels and formed two private labels in the last two years.</li><li>It also sells 50 high-end international brands like Steve Madden, Jimmy choo and Armani in India.</li><li>According to a report by Forrester Research, India is home to 8.6 million luxury brands consumers.</li></ul><keyword id="10926" type="General" weightage="20" keywordseo="reliance" source="Orion">Reliance</keyword> Industries (RIL) Chairman <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>, who has a net worth of over $95 billion, has been on a shopping spree for private fashion labels and brands for a year now. The strategy, which started off with selling international brands in India, has now evolved into acquiring Indian brands and scale them further. RIL’s subsidiary Reliance Retail has invested in over seven private labels and formed at least two private labels in the last two years alone to strengthen the line of lifestyle brands under one umbrella. This is in addition to the 50 high-end international brands — like Steve Madden, Jimmy choo, SuperDry, Diesel, Gas, Armani, Burberry, Hugo Boss and others — that the company is selling in India under <keyword id="74639" type="General" weightage="20" keywordseo="reliance-brands" source="Orion">Reliance Brands</keyword> Limited (RBL) banner. RBL, which is a brand licensing arm, operates 680 stores and 916 shop-in-shop in India. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nature of the deal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Clovia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance acquired 89% stake in lingerie brand company for ₹950 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Abraham &amp; Thakore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance bought an undisclosed majority stake in fashion label Abraham &amp; Thakore. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rahul Mishra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Retail formed a 60:40 joint venture with fashion label Rahul Mishra. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amante </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance acquired lingerie brand Amante from Sri Lanka-based MAS holdings. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zivame </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance acquired lingerie brand Zivame last year for an undisclosed amount. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Anamika Khanna </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Retail formed a 60:40 joint venture with fashion label Anamika Khanna. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ritu Kumar </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance acquired 52% stake in Ritu Kumar. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manish Malhotra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RBL acquired a 40% stake in Manish Malhotra’s luxury fashion label. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">John Player </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance bought John Players from ITC in 2019 for an undisclosed amount. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2019 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Raghavendra Rathore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">In 2018, Reliance bought 12.5% stake in the company set up by Raghavendra Rathore. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2018 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Satya Paul </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance acquired 16.3% stake in Satya Paul’s parent company for ₹34.8 crore. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2018 </td></tr></tbody></table>Source: Reliance Retail's announcements Apart from the three lingerie brands, all the other brands that Reliance has invested in are luxury brands. What has compelled Reliance to go after owning Indian brands? “Reliance is utilising its current infrastructure and team under Reliance Retail to increase wallet share from customers by acquiring brands, which are well established. Their core business isn't centered around launching their own labels but managing retail (offline and online) for brands that they partner with,” Neha Khanna, director at management consultancy firm ValPro, told Business Insider. She further noted that the acquisition directly adds to their revenue without much associated operating expenditure. Madhur Singhal, managing partner and chief executive officer (CEO) of Praxis Global Alliance, explained that there are three main advantages to following such a strategy for any business. First, the new age consumers are more experimental and their purchasing behaviour has a huge impact on the development of new business strategies. Second, such a strategy is even more helpful when running an ecommerce business as the brand is able to meet the needs of a digital consumer who is willing to try new-age brands. Third, when a brand undertakes a ‘house of brands’ strategy, it is able to scale each of these brands to the extent, which they would have otherwise not achieved while growing individually. “If all small brands are consolidated under the house of brands then they get the right scaling economies to grow in terms of advertising, sales, etc. It also gives economies of scope as it increases the potential of cross-selling products and services,” he added. A report by Fortune India citing sources <a href="https://www.fortuneindia.com/enterprise/reliance-retail-acquisition-spree-aims-to-make-it-walmart-amazon/107308">noted</a> that Reliance Industries is trying to be a ‘Walmart Plus Amazon’ with its recent spree of acquisition across sub sections of the retail industries. According to a report by Forrester Research, India is home to 8.6 million luxury brands consumers. Reliance Retail’s rival Aditya Birla Fashion and Retail Limited (ABFRL) has been trying to go after this segment by acquiring stakes in brands like Sabyasachi, Tarun Tahiliani, Shantanu &amp; Nikhil, among others. According to market and consumer data site Statista, revenue in the Indian luxury goods market amounts to $6.6 billion in 2022. “Even in a pandemic, the shares of luxury brands such as LVMH and Hermes have doubled. This showcases how resilient the luxury can be and how spending continues in this segment. With rising disposable incomes and a well-travelled and younger customer demographic in India, Reliance and Aditya Birla understand the importance of making luxury brands more accessible,” Khanna said, adding that these brands are trying to tap into [the] Indian consumer’s spending capacity. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/reliance-industries-outshines-benchmark-index-shares-rise-14-in-1-month/articleshow/90438954.cms" data-type="tilCustomLink" style="">Reliance Industries outshines benchmark index, shares rise 14% in 1 month</a> <a class="tout-title-link" href="https://www.businessinsider.in/business/startups/news/ola-is-going-to-acquire-ceo-bhavish-aggarwals-brothers-firm-avail-finance/articleshow/90433830.cms" style="">Ola is going to acquire CEO Bhavish Aggarwal’s brother’s firm Avail Finance</a> <a href="https://www.businessinsider.in/stock-market/news/tata-consumer-products-axis-bank-mm-and-other-top-stocks-to-watch-out-on-march-25/slidelist/90432431.cms" style="">Tata Consumer Products, Axis Bank, M&amp;M and other top stocks to watch out on March 25</a>

Here’s why Asia’s richest man Mukesh Ambani is on a shopping spree for private fashion labels

<ul class="summary-list"><li><keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>'s invasion of <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword> has triggered massive economic sanctions by the United States and its allies.</li><li>A few members of Congress or their spouses have, or recently had, stakes in Russian companies.</li></ul>Four members of Congress or their spouses have either currently or recently invested money in Russian companies, according to an Insider analysis of federal financial disclosure documents.They include Rep. <keyword id="11940431" type="UNKNOWN" weightage="60" keywordseo="josh-gottheimer" source="Orion">Josh Gottheimer</keyword>, a Democrat from New Jersey; and the wife of Rep. <keyword id="12004925" type="UNKNOWN" weightage="60" keywordseo="ro-khanna" source="Orion">Ro Khanna</keyword>, a Democrat from California, both of whom currently invest the stock of Russian companies, documents indicate. Rep. <keyword id="11940629" type="UNKNOWN" weightage="60" keywordseo="peter-meijer" source="Orion">Peter Meijer</keyword>, a Republican from Michigan, and the husband of Rep. <keyword id="12848551" type="UNKNOWN" weightage="60" keywordseo="susie-lee" source="Orion">Susie Lee</keyword>, a Democrat from Nevada, used to have Russia-related investments but said Monday they sold them in 2021 and 2020, respectively.These investments come to light in the midst of Russia's invasion of Ukraine, which has prompted the US government to hit Russia with heavy <a href="https://www.businessinsider.com/russia-ukraine-kremlin-western-sanctions-problematic-change-reality-economy-putin-2022-2">sanctions</a> and triggered boycotts of Russian <a href="https://www.inquirer.com/food/russian-vodka-ukraine-ban-pennsylvania-20220227.html">products</a> and <a href="https://sports.yahoo.com/russia-boycott-arts-pushed-back-151820393.html">culture</a>, from <a href="https://www.npr.org/2022/02/28/1083385057/boycotts-russian-effects">vodka</a> to <a href="https://www.washingtonpost.com/world/2022/02/26/ukraine-russia-boycott-canada-poland-sports/">soccer</a>.No law prevents members of Congress from trading <keyword id="11893878" type="UNKNOWN" weightage="60" keywordseo="stocks" source="Orion">stocks</keyword> or financial funds listed on public exchanges, Russian or otherwise. But Congress itself is <a href="https://www.businessinsider.com/stock-ban-congress-pelosi-mccarthy-mcconnell-schumer-2022-2">actively debating</a> whether to ban members of Congress from trading individual stocks — a practice that lawmakers have long permitted for themselves — amid <a href="https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9">rampant violations</a> of current financial disclosure laws and <a href="https://www.businessinsider.com/congress-members-are-trading-defense-stocks-while-shaping-military-policy-2021-12">potential</a> <a href="https://www.businessinsider.com/lawmakers-bought-sold-covid-19-related-stocks-during-pandemic-2021-12">conflicts</a> <a href="https://www.businessinsider.com/congress-holding-stocks-facebook-twitter-disney-fox-news-2021-12">of</a> <a href="https://www.businessinsider.com/congress-democrats-with-fossil-fuel-stocks-investments-2021-12">interest</a>. "There's an obvious conflict of interest with members of Congress holding Russian stocks as the world coalesces around a program of sanctions to respond to Putin's mass murder campaign in Ukraine," said Walter Shaub, a senior ethics fellow for the nonpartisan Project on Government Oversight and former director of the federal Office of Government Ethics. "It's inexcusable, and it's not like members of Congress didn't have plenty of advance warning that this attack was coming," Shaub told Insider. "This is yet another example of why members should not be trading stocks."Gottheimer owns up to $30,000 worth of <a href="https://www.investopedia.com/terms/a/adr.asp">American depository receipts</a> in <a href="https://markets.businessinsider.com/stocks/lukoy-stock">Lukoil</a>, the Russian fossil fuels giant, according to his most recent <a href="https://www.documentcloud.org/documents/21297726-joshgottheimer2">annual financial disclosure</a>. He most recently purchased up to $15,000 worth of American depository receipts in Lukoil on February 4, 2021, <a href="https://www.documentcloud.org/documents/21296144-joshgottheimerptr">according to a federal filing</a>.Lukoil has endured <a href="https://www.treasury.gov/press-center/press-releases/pages/jl2629.aspx">targeted US sanctions</a> since 2014. Given the war in Ukraine, it could face more from the United States or European nations. CNBC on Monday reported that Lukoil's president, Vagit Alekperov, is <a href="https://www.cnbc.com/2022/02/28/russian-oligarchs-move-yachts-as-us-moves-to-hunt-down-and-freeze-assets.html?__source=sharebar%7Ctwitter&amp;par=sharebar">sailing his yacht</a> from Spain to Montenegro as the United States and its allies mull sanctions on the property of Russian oligarchs with ties to Russian President Vladimir Putin. Gottheimer also owns up to $15,000 worth of stock in <a href="https://markets.businessinsider.com/stocks/yndx-stock">Yandex</a>, a Russian internet services company, earning up to $2,500 in capital gains from the asset in 2020, <a href="https://www.documentcloud.org/documents/21297726-joshgottheimer2">federal filings indicate</a>."Prior to taking office, Josh turned over management of his portfolio to a third party and only receives statements of prior transactions," Gottheimer spokesperson Chris D'Aloia said. "All decisions related to buying and selling of securities are done so without Josh's approval."Gottheimer, who owns dozens of different individual stocks, has not created for himself what's known as a "<a href="https://www.businessinsider.com/meet-the-members-of-congress-who-dont-buy-and-sell-stocks-2021-12">qualified blind trust</a>" — a congressionally approved financial arrangement where a lawmaker cedes control of all or part of his or her assets to an independent trustee. The terms of such qualified blind trusts, which congressional <a href="https://www.ethics.senate.gov/public/_cache/files/286a4cf9-5aab-40ef-9a6c-bf2278e79e38/qualified-blind-trusts-guide---october-2020.pdf">guidance</a> states is the "most comprehensive approach" to avoiding "potential conflicts of interest or the appearance of such conflicts," are a matter of public record. Only a <a href="https://www.businessinsider.com/meet-the-members-of-congress-who-dont-buy-and-sell-stocks-2021-12">handful</a> of federal lawmakers have established qualified blind trusts, which can be expensive and time-consuming to formalize.<h2><div type="image" title="Democratic Rep. Susie Lee of Nevada." height="810" width="1080" msid="89932160" hostid="261"></div></h2><h2>Trusts and family funds</h2>Khanna's wife, Ritu Khanna, purchased up to $15,000 of <a href="https://markets.businessinsider.com/news/stocks/yandex-stock-price-crashes-russia-ukraine-invasion-putin-2022-2">Yandex</a> stock on January 21, according to a <a href="https://www.documentcloud.org/documents/21296146-rokhannadisclosure-rotated">congressional financial disclosure</a>, which lists the value of assets in broad ranges.The Yandex investment is part of Khanna's wife's family trust, established prior to their marriage, and it is "controlled by independent money managers," said Marie Baldassarre, Khanna's spokesperson."Congressman Khanna does not trade in any stocks, and he supports a ban on stock trading that applies also to spouses," Baldassarre said. "Khanna strongly supports the president's sanctions targeting Putin, the oligarchs, and the Russian government." Meijer in 2020 reported owning up to $15,000 in Yandex stock among the many stock assets contained within a trust fueled by his family's chain of retail and grocery stores.In a phone interview Monday, Meijer confirmed that the trust, for which he is the "sole beneficiary with no authority or advisory role" in it, dumped all of its individual stocks in early 2021, <a href="https://www.documentcloud.org/documents/21296145-petermeijerptr">including the shares</a> in Yandex. The trust has since reinvested those assets in exchange-traded funds, none of which target Russia-based investment opportunities, Meijer said.Lee last year disclosed that her <a href="https://news3lv.com/news/local/nevada-rep-susie-lee-announces-separation-from-husband">estranged</a> husband, casino executive Dan Lee, owned shares in two Russia-focused exchange traded funds. The congresswoman's annual <a href="https://www.documentcloud.org/documents/21296147-repsusieleedisclosure">financial disclosure</a>, covering financial activity in 2020 and filed in August 2021, indicates he sold up to $100,000 worth of shares in the <a href="https://www.vaneck.com/us/en/investments/russia-etf-rsx/">VanEck Russia ETF</a> and earned up to $15,000 in capital gains that year from the sale. The <a href="https://www.vaneck.com/us/en/investments/russia-etf-rsx/">fund</a> "includes publicly traded companies that are incorporated in Russia or that are incorporated outside of Russia but has at least 50% of their revenues/related assets in Russia."Dan Lee also sold a stake, worth up to $100,000, in the <a href="https://www.ishares.com/us/products/239677/ishares-msci-russia-capped-etf">iShares MSCI Russia ETF</a>, which "seeks to track the investment results of an index composed of Russian equities.""These investments were in family members' accounts, including that of Rep. Lee's husband from whom she is separated, and were sold over two years ago. The family currently has no investments in these funds," Lee spokesperson Zoe Sheppard said.<h2>Efforts to ban stock trades</h2>Congress itself is actively considering whether to ban lawmakers and their spouses from trading individual stocks at all. Insider's recent "<a href="https://www.businessinsider.com/conflicted-congress-key-findings-stock-act-finances-investing-2021-12">Conflicted Congress</a>" project found that <a href="https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9">57 members of Congress</a>, and at least <a href="https://www.businessinsider.com/congress-staff-violated-stock-act-conflicts-of-interest-possible-2021-12">182 senior congressional aides</a>, have in recent months violated the federal Stop Trading on Congressional Knowledge Act of 2012 with late or missing financial disclosures. "<keyword id="12727727" type="UNKNOWN" weightage="60" keywordseo="conflicted-congress" source="Orion">Conflicted Congress</keyword>" also found dozens of examples of members of Congress holding stock in companies that <a href="https://www.businessinsider.com/lawmakers-bought-sold-covid-19-related-stocks-during-pandemic-2021-12">clash</a> with their public responsibilities or stated orthodoxies or <a href="https://www.businessinsider.com/congress-members-are-trading-defense-stocks-while-shaping-military-policy-2021-12">sat on</a> <a href="https://www.businessinsider.com/congress-holding-stocks-facebook-twitter-disney-fox-news-2021-12">committees</a> that directly oversee the <a href="https://www.businessinsider.com/congress-democrats-with-fossil-fuel-stocks-investments-2021-12">activities</a> of companies in which they hold shares. As part of the project, Insider <a href="https://www.businessinsider.com/search-congress-personal-finances-with-insiders-exclusive-database-2021-12">created a searchable, sortable database</a> of lawmakers' personal finances, including assets and debts.The House Administration Committee, for its part, is <a href="https://www.businessinsider.com/congress-stock-ban-house-hearing-trading-2022-2">poised to schedule</a> a hearing on a congressional stock ban. President Joe Biden reportedly is considering addressing the matter in his State of the Union Address on Tuesday. Meijer and Khanna's office told Insider that they both, in principle, support a ban or restrictions on members of Congress from trading individual stocks. Spokespeople for Gottheimer and Lee did not respond to the question of whether they support a congressional stock ban.But in statements during the past week, the four members of Congress who've traded Russian investments have been uniformly opposed to Russia's invasion of Ukraine.Gottheimer <a href="https://twitter.com/RepJoshG/status/1497963272141737989?s=20&amp;t=X16UWhKWrb3tQLIHKXxBTg">said</a> that "Ukraine urgently needs the continued assistance of Western allies to hold off Russian troops from Kyiv — including additional sanctions by the U.S. to cut off Putin's revenue at the source."Khanna <a href="https://khanna.house.gov/media/press-releases/statement-khanna-invasion-ukraine">called</a> the invasion "a blatant violation of international law."Meijer <a href="https://twitter.com/RepMeijer/status/1498270080433541126?s=20&amp;t=X16UWhKWrb3tQLIHKXxBTg">tweeted</a> that "slaughtering civilians to gain negotiating leverage is a war crime, terrorism in uniform." Lee last week <a href="https://twitter.com/RepSusieLee/status/1496893213667377154?s=20&amp;t=xxVFsO6Bm4ZTCTJ_KNkQXA">advocated</a> for the "most crushing of sanctions on Russia" in response to its invasion of Ukraine.

Four US lawmakers or their spouses personally invested in Russian companies: documents

<ul><li> Lay’s introduces a new flat cut chip and its thinnest range of chips ever - Lay’s Wafer Style. </li><li>Launches a new campaign with Alia Bhatt and Siddhant Chaturvedi. </li></ul>Expanding its brand footprint in the country, Lay’s is introducing a new flat cut chip and its thinnest range of chips ever - Lay’s Wafer Style. In the endeavor of bringing unique offerings to consumers, Lay’s Wafer Style chips are exceedingly thin-sliced and are available in three delightful flavours – Salt &amp; Pepper, Tangy Treat &amp; Sundried Chilli providing a melt-in-mouth crunch in every bite to consumers. Inspired by the thinness and slender look of the chip, Lay’s Wafer Style takes the consumers on a delightful journey through the launch of TVC campaign ‘#PaperThinWaferThin,’ which features Lay’s brand ambassador and Bollywood Superstar, Alia Bhatt, and rising Bollywood actor, Siddhant Chaturvedi. <div type="Youtube" id="0rZBLiJaeQ8" title="The all new Lay’s Wafer Style. It's paper thin wafer thin" thumbUrl="https://i.ytimg.com/vi/0rZBLiJaeQ8/mqdefault.jpg"></div> Sitting together in a library, Alia and Siddhant indulge in a moment that comes alive through their playfulness and camaraderie. With only a few words but sparking with an adorable eagerness, Alia tantalizes, Siddhant cajoles, and then the magic happens. Alia's hands dance, and she showcases the perfect Lay's Wafer chip in her hand - irresistibly crispy, effortlessly light, and paper-thin. Speaking about the new launch, leading actor and brand ambassador of Lay’s, Alia Bhatt said, “It has always been fun being on the brand and I am super excited about the new offering. Lay’s is always known to be a pioneer in bringing new innovations in potato chips category and with Wafer Style they have yet again created a fabulous product available in wonderful flavours. Lay’s Wafer Style is unbelievably thin, and I had lot of fun shooting with it during the TVC along with Siddhant. I hope Lay’s fans across the country enjoy the TVC along with this new offering that makes moments with friends more delightful.” “Lay’s is loved by millions across the country and has always excited me as a brand. Working on this TVC along with Alia on this fabulous new offering was fun and simply amazing. Lay’s Wafer Style chip is a fantastic innovation from the house of Lay’s. The chip is super thin, has a flat cut texture with wonderful flavours providing a truly enjoyable experience. I hope the fans have as much fun enjoying the chips as we did while shooting the film”, added Bollywood actor Siddhant Chaturvedi. Sharing his thoughts on the campaign, Anshul Khanna, Senior Director and Category Head – Foods, PepsiCo India said, “We have been frontrunners in delighting Lay’s fans with unique and flavourful experiences. With the launch of s Wafer Style, we are ready to delight fans again with the thinnest chips from the house of Lay’s. Keeping consumer preference in mind, we’ve created region-specific flavours in a format that will be loved by all. We’re excited to have our brand ambassador Alia Bhatt featuring alongside Siddhanth Chaturvedi to create magic with this new campaign. We are confident that the audience will love this new offering Lay’s Wafer Style just like our other food innovations.” Speaking about the launch, Ritu Nakra, Senior Vice President, <keyword id="7067090" type="General" weightage="20" keywordseo="wunderman-thompson" source="Orion">Wunderman Thompson</keyword> said, “The new Lay’s Wafer Style is a chip so thin, light and crispy it gives you an irresistible melt-in -your mouth experience. The playfulness of the Wafer style chip is brought alive by the fresh pairing of Alia and Siddhant in the new campaign. Watch the intriguing chip flip by Alia and grab your pack to enjoy this new chip on the block.” The launch of the TVC is first in the line of numerous activations that the brand has in the pipeline for the upcoming weeks. The latest launch is also being brought to life through a robust 360-degree digital surround campaign panning across multiple platforms. Tailor-made to suit the existing and evolving tastes and palates, Lay’s Wafer Style is available in three special flavours – Salt &amp; Pepper, Tangy Treat &amp; Sundried Chilli – at INR 5, INR 10 and INR 20 across all leading retail platforms in India. Agency Credits Creative Agency: Wunderman Thompson WPP Lead - PepsiCo Foods, India: Ritu Nakra Chief Creative Officer: Senthil Kumar Executive Creative Director: Udayan Chakravarty Strategy Leads: Atishi Pradhan Creative Directors: Sameer Kumar, Chetan Malvi Copywriter: Aakash Aher Film Department: Mandeep Singh Account Management: Sougata Kundu, Barnali Dey Production House: Breathless Films Director: Vinil Mathew Producer: Swadha Kulkarni

Lay's launches a new campaign with Alia Bhatt and Siddhant Chaturvedi to promote its thinnest wafers

<ul class="summary-list"><li>Insider found at least 13 lawmakers that have held stock in <keyword id="13098475" type="UNKNOWN" weightage="60" keywordseo="turbotax" source="Orion">TurboTax</keyword>'s parent company.</li><li>Liberal lawmakers are trying to break <keyword id="13654695" type="UNKNOWN" weightage="60" keywordseo="intuit" source="Orion">Intuit</keyword>'s limits on the government's ability to make it easier for all taxpayers to file their <keyword id="11898253" type="UNKNOWN" weightage="60" keywordseo="taxes" source="Orion">taxes</keyword> for free online.</li></ul>At least 13 members of Congress have recently held a financial stake in Intuit, the parent company of the TurboTax, the tax preparation giant that has staged a decades-long effort to make it harder for Americans to file their federal taxes for free, according to financial disclosure documents.Lawmakers' investments in Intuit come at a time when the Biden Administration has targeted the company, with the <keyword id="11897355" type="UNKNOWN" weightage="60" keywordseo="federal-trade-commission" source="Orion">Federal Trade Commission</keyword> in March issuing an <a href="https://www.ftc.gov/system/files/ftc_gov/pdf/D09408IntuitP3Complaint.pdf">administrative complaint</a> and <a href="https://www.propublica.org/article/ftc-sues-to-stop-deceptive-turbotax-free-ad-campaign">suing Intuit</a> in federal court "for deceiving consumers with bogus advertisements pitching 'free' tax filing that millions of consumers could not use."Their investments also stand out as Congress itself <a href="https://www.businessinsider.com/stock-ban-congress-pelosi-mccarthy-mcconnell-schumer-2022-2" target="_blank" rel="noopener noreferrer">actively debates</a> whether to ban its elected members from trading individual stocks — a practice that lawmakers have long permitted for themselves. Insider's "<a href="https://www.businessinsider.com/conflicted-congress-key-findings-stock-act-finances-investing-2021-12">Conflicted Congress</a>" project has found <a href="https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9" target="_blank" rel="noopener noreferrer">rampant violations</a> of current financial disclosure laws and <a href="https://www.businessinsider.com/congress-members-are-trading-defense-stocks-while-shaping-military-policy-2021-12" target="_blank" rel="noopener noreferrer">potential</a> <a href="https://www.businessinsider.com/lawmakers-bought-sold-covid-19-related-stocks-during-pandemic-2021-12" target="_blank" rel="noopener noreferrer">conflicts</a> <a href="https://www.businessinsider.com/congress-holding-stocks-facebook-twitter-disney-fox-news-2021-12" target="_blank" rel="noopener noreferrer">of</a> <a href="https://www.businessinsider.com/congress-democrats-with-fossil-fuel-stocks-investments-2021-12" target="_blank" rel="noopener noreferrer">interest</a> among dozens of lawmakers.Reps. Michael McCaul, a Texas Republican, and Ro Khanna, a California Democrat, and their respective families own the largest holdings in Intuit stock, which has declined in value since peaking in late December, but <a href="https://markets.businessinsider.com/stocks/intu-stock">is still up almost 100%</a> since this time two years ago. McCaul, mostly through his wife, Linda, has reported trading upwards of $700,000 in Intuit stock in just the past two years, according to congressional financial disclosure reports.Khanna, mostly through his wife, <a href="https://www.businessinsider.com/ginni-clarence-thomas-text-messages-dc-power-marriages-2022-3">Ritu</a>, reported owning as much as $115,000 in Intuit stock, according to his <a href="https://www.documentcloud.org/documents/21138648-8218200_rohit-khanna">most recent</a> annual financial disclosure.A spokesperson for Khanna stressed that the lawmaker, who is viewed in some progressive circles as a <a href="https://www.politico.com/news/2022/03/17/sanders-khanna-presidential-bid-2024-00018017">future presidential candidate</a>, is supportive of efforts to make it easier for more Americans to file their taxes online for free."Rep. Khanna does not own any individual stocks and complies fully with the [proposed] Ban Conflicted Trading Act, which would prohibit lawmakers from buying or selling individual stocks. Any assets in question are his wife's assets prior to marriage and in a diversified trust that is managed by an outside financial advisor," a Khanna spokesperson said in a statement. "He believes that Americans should be able to easily file their taxes online for free and has consistently opposed efforts to block the <keyword id="6359816" type="UNKNOWN" weightage="60" keywordseo="irs" source="Orion">IRS</keyword> from creating free electronic filing."One Democratic lawmaker — Rep. Kathy Manning of North Carolina — reported the sale of part of her Intuit holdings more than 5 months after the sale, a flagrant violation of the law that requires lawmakers to notify the public no more than 45 days after such a transaction takes place.Manning, <a href="https://readsludge.com/2022/02/14/rep-manning-violated-the-stock-act-51-times-last-year/">whose violations were first reported by Sludge</a>, a nonprofit news organization, is one of the 59 lawmakers Insider has identified since 2021 of violating the disclosure provisions of the <a href="https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9">Stop Trading on Congressional Knowledge (STOCK) Act of 2012</a>, a federal law designed to stop insider trading and prevent conflicts-of-interest.Manning, whose office did not reply to Insider's requests for comment, reported selling as much as $30,000 worth of Intuit stock last August and October.<div type="image" title="Rep. Kathy Manning stock trade disclosure" height="2298" width="1224" msid="90944703" hostid="261"></div>Rep. Dean Phillips, a Democrat from Minnesota, last summer joined a small, but growing number of lawmakers in putting his tradable assets in a "<a href="https://www.businessinsider.com/meet-the-members-of-congress-who-dont-buy-and-sell-stocks-2021-12">qualified blind trust</a>" — a publicly disclosed, congressionally approved financial arrangement in which a lawmaker officially transfers management of their financial assets to an independent trustee. Sam Anderson, a Phillips spokesperson, said that the congressman's move is "an all-too-rare decision he hopes becomes the rule in Congress." Before he announced the blind trust, Phillips reported owning between $15,001 and $50,000 in Intuit shares. (Members of Congress are only required to disclose the values of their holdings in broad ranges.) Other lawmakers who have disclosed holding or recently holding Intuit stock shares include:<ul><li>Rep. Bill Keating, a Democrat from Massachusetts, purchased between $1,001 and $15,000 in Intuit stock in March 2021 and has held it ever since, according to congressional stock trade <a href="https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2021/20018465.pdf">disclosures</a>.</li><li>Rep. Byron Donalds, a Republican from Florida, who held between $1,001 and $15,000 in Intuit stock through a retirement account, according to his most recent annual disclosure.</li><li>Rep. David McKinley, a Republican from West Virginia: his wife Mary sold part of her holdings in August 2021 for between $1,001 and $15,000 through a retirement account.</li><li>Rep. Fred Upton, a Republican from Michigan: held between $1,001 and $2,000 in Intuit shares, according to a hand-written notation on his most recent annual disclosure. Upton, or someone else, also added a hand-written note that the shares are part of a JPMorgan account that he has no control over.</li><li>Rep. <keyword id="11940629" type="UNKNOWN" weightage="60" keywordseo="peter-meijer" source="Orion">Peter Meijer</keyword>, a Republican from Michigan, reported capital gains and dividends in 2020 from a trust that held Intuit shares that he sold the same year, according to his most recent annual disclosure. A Meijer spokesperson said, "Rep. Meijer's knowledge, the trust has sold all equities. He has no investment advisory authority."</li><li>Rep. Richard "Rick" Allen, a Republican from Georgia, reported that his wife, Robin, held between $15,001 and $50,000 in company shares, according to his most recent annual disclosure. </li><li>Sen. James Inhofe, a Republican from Oklahoma, reported less than $1,001 in capital gains and dividends from Intuit shares, according to his most recent annual disclosure. </li><li>Sen. Tommy Tuberville, a Republican from Alabama, sold between $1,001 and $15,000 worth of Intuit shares on March 30, the entirety of his stake in the company, which he held in a joint account with his wife, Suzanne.</li></ul>Additionally, when former Rep. Gil Cisneros, a Democrat from California, left office in early 2021, he reported <a href="https://disclosures-clerk.house.gov/public_disc/financial-pdfs/2021/10039421.pdf">owning</a> between $50,001 and $100,000 worth of Intuit stock, having in 2020 earned capital gains and/or dividends from it valued at between $15,001 and $50,000, according to a disclosure he filed in April 2021.Cisneros now serves in the Biden administration as under secretary of defense for personnel and readiness. Ethics experts told Insider it is hard to judge the details of any single trade or even a lawmaker's actions, but stressed the questions around such activity underline the necessity of passing a law to ban such practices."When you have members of Congress that have stock in a company that has a specific interest in an issue that is before Congress, we're always going to have to ask whether that stock ownership influenced that member of congress decision making — that if a member stands to benefit by a blocking a proposal or blocking a proposal there's always a very real possibility that is going to influence what action they may take," Noah Bookbinder, president of Citizens for Responsibility and Ethics in Washington, said in an interview. "That shouldn't be the case. We shouldn't have to question the motives of members of Congress on issues that affect millions of Americans."Dylan Hedtler-Gaudette, government affairs manager for nonpartisan watchdog group Project on Government Oversight, said this "appearance of a conflict of interest that can just be as destabilizing" for public trust in Congress itself.<div type="image" title="FTC building" height="2666" width="3967" msid="90944704" hostid="261"></div><h2>TurboTax has fought hard to remain on top</h2>TurboTax has been a major boon for Intuit, powering the Silicon Valley software giant to lofty heights as Americans began rapidly shifting from filing paper tax forms to moving online.But as ProPublica documented in an <a href="https://www.propublica.org/article/inside-turbotax-20-year-fight-to-stop-americans-from-filing-their-taxes-for-free">extensive 2019 report</a>, Intuit's dominance is based on the company's ability to limit how many Americans can easily file for free federal returns."For a decade proposals have sought to create IRS tax software or a ReturnFree Tax System; All were stopped," reads a confidential 2007 PowerPoint presentation from an Intuit board of directors meeting obtained by ProPublica.The struggle dates back to President George W. Bush, whose White House initially proposed making a host of government services more accessible, including the ability to file taxes.Intuit kicked its lobbying into high gear. As a result, the IRS caved on the initial hope and settled for a partnership of tax prep companies, led by Intuit, that agreed to "provide free federal filing to 60% of taxpayers, or about 78 million people at the time," according to ProPublica.As of tax day 2022, an estimated 70% of taxpayers Americans can file their taxes for free. But as Vox points out, <a href="https://www.vox.com/policy-and-politics/22596072/irs-turbotax-hr-block-free-file-tax-return">comparatively few people take advantage of this service</a>. Only 4.2 million returns or roughly 2.6% used the FreeFile program in 2019.Intuit has continued to spend millions of dollars each year lobbying the federal government. <a href="https://www.opensecrets.org/news/2022/03/intuit-spends-millions-lobbying-amid-accusations-of-deceptive-turbotax-advertising/">According to OpenSecrets,</a> a nonpartisan research organization, the company spent nearly $3.3 million in 2021 and about $3.4 million in 2020.Like other major companies, it has also relied on the revolving door between government and the lobbying industry to enlist former top administration officials and lawmakers in its advocacy. At least four former members of Congress have lobbied on Intuit's behalf.Some lawmakers want to limit Intuit's power.Democratic Sen. Elizabeth Warren of Massachusetts, a former presidential candidate, and Rep. Brad Sherman, a Democrat from California, introduced sweeping legislation in 2019 that among other measures would prohibit the IRS from entering into the type of agreement it made with Intuit and other tax prepares that dates back to the Bush administration. It would also direct the IRS to develop its own way for all Americans to file their taxes for free online.Warren and Sherman's legislation is co-sponsored by progressive stalwarts like Rep. Alexandria Ocasio-Cortez of New York and Sen. Bernie Sanders of Vermont but has yet to garner any Republican support. "TurboTax is bombarding consumers with ads for 'free' tax filing services, and then hitting them with charges when it's time to file," Samuel Levine, Director of the Bureau of Consumer Protection, <a href="https://www.ftc.gov/news-events/news/press-releases/2022/03/ftc-sues-intuit-its-deceptive-turbotax-free-filing-campaign">said</a> in March. "We are asking a court to immediately halt this bait-and-switch, and to protect taxpayers at the peak of filing season."Intuit said in <a href="https://www.intuit.com/blog/taxpayer-empowerment/intuit-responds-to-complaint-from-u-s-federal-trade-commission/">response</a> that the "<keyword id="11897594" type="UNKNOWN" weightage="60" keywordseo="ftc" source="Orion">FTC</keyword>'s arguments are simply not credible" and argued that more Americans are taking advantage of its free filing offerings."In fact, Intuit has always supported consumers filing for free as a founding member of the IRS Free File program and in our other practices," the company said in a statement. "The FTC's complaint fails to acknowledge the reality that Intuit was, at all times, in compliance with the IRS requirements."

13 lawmakers have recently owned stock in TurboTax's parent company, which the federal government is probing over its 'deceptive' advertising for 'free' tax-filing software

<a href="https://www.businessinsider.com/financial-conflicts-congress-members-rated-2021-12"></a><div type="image" title="Rep. Jim Cooper, Sen. Tommy Tuberville; Sen. Jacky Rosen; Rep. Pat Fallon with Boeing, Lockheed Martin, and Raytheon Tech logos above them." height="1251" width="2500" msid="88256702" hostid="261"></div><ul class="summary-list"><li>The politicians hold posts on either the House or Senate armed-services panels.</li><li>They're investing their money in defense contractors such as Lockheed Martin, Raytheon, and Boeing.</li></ul>At least 15 lawmakers who hold powerful positions on a pair of House and Senate committees that control US military policy have financial ties to prominent defense contractors that together were worth nearly $1 million in 2020, according to an Insider analysis of federal financial records.And throughout 2021, both Democrats and Republicans serving on the congressional Armed Services committees have continued to invest in or cash out of the most important players in the military and defense industry. Some of the world-renowned weapons makers and defense-technology developers peppered across the committee members' financial disclosures were <a href="https://markets.businessinsider.com/stocks/lmt-stock">Lockheed Martin Corp.</a>, <a href="https://markets.businessinsider.com/stocks/ba-stock">Boeing Co.</a>, <a href="https://markets.businessinsider.com/stocks/rtx-stock">Raytheon Technologies Corp.</a>, <a href="https://markets.businessinsider.com/stocks/hon-stock">Honeywell</a>, and <a href="https://markets.businessinsider.com/stocks/ge-stock">General Electric</a>. All are companies that also annually spend millions of dollars lobbying the federal government to prod elected officials, shape policy, and win lucrative government contracts.Lawmakers with investments riding on defense contractors' well-being — some worth upward of five figures — include seasoned Capitol Hill veterans and Washington newcomers, Insider found when analyzing documents disclosing their personal financial holdings for 2020.The tally is part of the exhaustive <a href="https://www.businessinsider.com/financial-conflicts-congress-members-rated-2021-12">Conflicted Congress project</a>, in which Insider reviewed nearly 9,000 financial-disclosure reports for every sitting lawmaker and their top-ranking staffers.<h2>House investments</h2>Atop the list is the 16-term Rep. Jim Cooper, a Democrat of Tennessee who chairs the House panel's Strategic Forces Subcommittee. He reported owning up to $65,000 worth of stock in General Electric at the end of 2020, with up to $50,000 worth of it held in a tax-favored individual retirement account and up to $15,000 worth held in a brokerage account established for one of his children. A diversified company that produces a variety of products, GE <a href="https://www.geaviation.com/military/systems">describes</a> itself as a "leading supplier of integrated systems and technologies for combat aircraft, military transport, helicopters, land vehicles and unmanned aerial vehicles." Democratic Reps. Joe Courtney of Connecticut and Mikie Sherrill of New Jersey reported briefly owning defense-related stocks during 2020. Courtney is in his eighth term and chairs the House panel's Seapower and Projection Forces Subcommittee. Sherrill is a second-term lawmaker and considered a more junior member of the House Armed Services Committee. Both told Insider they had since divested themselves of individual stock holdings and diversified their portfolios by investing in mutual funds or exchange-traded funds. <q class="pullquote-quotation"></q><q class="pullquote-quotation"></q>The wife of Democratic Rep. Ro Khanna of California, Ritu Khanna, invested up to several hundred thousand dollars in a collection of defense contractor stocks at some point in 2020, including Boeing, General Dynamics, General Electric, Honeywell, Northrop Grumman, and Raytheon. Ro Khanna served on the House Armed Services Committee then, as he does now in his third term as a member of <keyword id="11893699" type="UNKNOWN" weightage="60" keywordseo="congress" source="Orion">Congress</keyword>.While Ritu Khanna sold many of those stocks before 2021, she has made several four- or five-figure trades in Honeywell in 2021, according to federal <a href="https://www.documentcloud.org/documents/21138648-8218200_rohit-khanna">financial disclosures</a>.<div type="image" title="Rep. Ro Khanna, wearing a dark suit, answers questions from the crowd of reporters gathered all around him in one of the many tunnels beneath the US Capitol." height="1334" width="2000" msid="88256705" hostid="261"></div>"My wife has assets prior to marriage which are legally not mine, and it's not my place to tell her what to do with her separate assets," Ro Khanna told Insider.Two more Democrats — Reps. Rick Larsen of Washington and Joe Morelle of New York — both reported having less than $1,000 tied up in defense companies. Larsen is in his 11th term and one of the House committee's most senior members, though he doesn't hold an official leadership position on the panel. Morelle is in his third term but <a href="https://morelle.house.gov/media/press-releases/congressman-joe-morelle-appointed-house-representatives-committees-armed">just got</a> his seat on the Armed Services panel in January. Their offices did not respond to repeated requests for comment about their finances.Across the aisle, Republican Rep. Pat Fallon, a freshman of Texas who secured a coveted spot on the armed-services panel upon his arrival on Capitol Hill, <a href="https://www.documentcloud.org/documents/21151412-pat-fallon-transactions">reported</a> buying and selling up to $1.4 million worth of Boeing stock this year, much of it between January and April. He also reported owning up to $50,000 worth of stock in General Electric.Fallon did not respond to repeated requests for comment about his finances. Insider <a href="https://www.businessinsider.com/pat-fallon-congress-texas-stock-trades-boeing-2021-6">earlier this year reported</a> that Fallon failed to properly disclose dozens of stock transactions together worth millions of dollars, which his spokesperson attributed to the congressman's unfamiliarity with federal conflict-of-interest laws. Fellow new arrival Rep. Blake Moore, a GOP freshman from Utah, <a href="https://www.documentcloud.org/documents/21151411-blake-moore-transactions">reported</a> owning up to $50,000 worth of stock in Boeing and up to $50,000 in Raytheon shares at the end of 2020. The congressman has continued purchasing defense contractor stocks in 2021, buying up to $60,000 worth of Raytheon shares between February and May and $15,000 worth of Boeing shares in July. Shares in <a href="https://markets.businessinsider.com/stocks/rtx-stock">Raytheon</a> have increased in value since the beginning of 2021, while shares in <a href="https://markets.businessinsider.com/stocks/ba-stock">Boeing</a> have fallen.Moore in 2021 has also bought and sold up to $180,000 worth of stock and stock options in Alibaba Group, the Chinese e-commerce giant that has demonstrated ties to China's Communist Party. His most recent Alibaba stock option purchase came on November 19, <a href="https://www.documentcloud.org/documents/21153184-blake-moore-november-2021">federal records show</a>. US military officials have <a href="https://www.military.com/daily-news/2021/11/01/pentagon-rattled-chinese-military-push-multiple-fronts.html">regularly warned</a> of China's advances in military technology and capabilities, and Moore himself is an <a href="https://thehill.com/blogs/congress-blog/foreign-policy/545477-confronting-made-in-china-is-crucial-to-americas">outspoken critic</a> of China's government. Moore, who also this year <a href="https://www.businessinsider.com/rep-blake-moore-violated-federal-law-with-late-stock-disclosures-2021-7">failed to properly disclose</a> stock trades in violation of federal law, did not respond to repeated requests for comment about his finances for this story. In July, Moore's office told Insider in a written statement that "upon entering Congress, Congressman Moore made an intentional effort to learn the new financial requirements and simplify and consolidate his financial investments."Republican Rep. Austin Scott of Georgia <a href="https://www.documentcloud.org/documents/21152171-austin-scott-transactions">reported</a> buying and selling up to $45,000 worth of stock in General Electric in late 2020. A spokesperson for the six-term lawmaker, Rachel Ledbetter, said Scott and his wife "own stocks like millions of American families do."And they follow all laws on trading," she added.Republican Rep. Mike Gallagher of Wisconsin, now in his third term in Congress, reported that his wife, Anne Horak Gallagher, sold up to $50,000 worth of stock in Lockheed Martin in January 2020 as part of the couple's shift to investing in mutual funds or exchange-traded funds. Six-term Republican Rep. Mo Brooks of Alabama said he inherited shares of General Electric when his mother died in 2019 but otherwise depended on a financial advisor to handle his investments. Republican Rep. Rob Wittman of Virginia said he had no knowledge of the up to $15,000 worth of Lockheed Martin stock and up to $15,000 in Honeywell shares that flowed through his portfolio, telling Insider an investment manager handled his finances. Now in his eighth term, Wittman is the GOP ranking member for the panel's Seapower and Projection Forces Subcommittee. "Mr. Wittman believes members of Congress should not improperly benefit from their role," Sarah Newsome, a spokesperson for Wittman, wrote in an email, adding that her boss "remains committed to accountability and transparency in government." <h2>Senate investments</h2>Across the Capitol, Republican Sen. Tommy Tuberville, a freshman of Alabama, reported owning nearly $200,000 worth of stock combined in Honeywell, Lockheed Martin, General Electric, Raytheon, and General Dynamics.Tuberville also <a href="https://www.businessinsider.com/sen-tommy-tuberville-alabama-violated-federal-law-late-stock-disclosures-2021-7">violated</a> the federal Stop Trading on Congressional Knowledge Act of 2012 this year by disclosing nearly 130 stock trades weeks or months late. Tuberville has continued trading defense contractor stocks during 2021, most recently on October 18, when he sold his stakes in General Dynamics and General Electric, each worth up to $50,000, according to <a href="https://www.documentcloud.org/documents/21152980-tuberville-october-2021">federal records</a>. Like Moore, Tuberville also trades heavily in Alibaba, buying and selling up to $215,000 in stock options <a href="https://www.documentcloud.org/documents/21152981-tuberville-september-2021">on September 13</a>.<div type="image" title="Republican Sen. Tommy Tuberville of Alabama leans forward to make a statement during a committee hearing on Capitol Hill." height="1334" width="2000" msid="88256708" hostid="261"></div>Ryann DuRant, his spokesperson, previously downplayed questions about her boss' finances, <a href="https://www.businessinsider.com/sen-tommy-tuberville-alabama-violated-federal-law-late-stock-disclosures-2021-7">telling</a> Insider the former college-football coach had "long had financial advisors who actively manage his portfolio without his day-to-day involvement." Altogether, Tuberville's campaign received $89,100 in contributions from defense-sector PACs and employees when he ran for office in 2020, according to OpenSecrets.Democratic Sen. Jacky Rosen of Nevada and her husband, Larry Rosen, reported co-owning up to $110,000 worth of stock in General Electric. Democratic Sen. Gary Peters of Michigan reported owning up to $15,000 worth of stock in Raytheon. Rosen and Peters — both are more junior members without leadership roles on the Senate Committee on Armed Services — did not respond to repeated requests for comment about their personal finances.<h2>Dialing up defense</h2>Whether they have leadership positions on the committees or not, all 15 lawmakers who have made investments in the defense industry all sit on the House and Senate panels responsible for writing the annual defense-authorization bill that bankrolls the military personnel and subcontractors in their home districts. Earlier this month, the House passed its version of the <a href="https://www.businessinsider.com/house-passes-annual-national-defense-authorization-act-2021-12">nearly $770 billion National Defense Authorization Act bill</a>. It now awaits a Senate vote and Biden's signature."If you are invested in any of the top defense contractors then you stand to benefit personally from that bill," said Dylan Hedtler-Gaudette, government affairs manager at the nonpartisan Project on Government Oversight who called the investments "a clear conflict of interest." Under current law, members of Congress must disclose all of their individual stock trades in a public database within 30 to 45 days of conducting the transaction, depending on the trade. There is also no prohibition against lawmakers sitting on congressional committees, writing legislation, or voting on bills that might affect them financially.The defense companies that members of Congress invested in spend millions of dollars annually lobbying the federal government, including Congress, on a variety of issues. In 2020, Lockheed Martin spent nearly <a href="https://www.opensecrets.org/federal-lobbying/clients/summary?cycle=2020&amp;id=D000000104">$14 million</a>, General Dynamics <a href="https://www.opensecrets.org/federal-lobbying/clients/summary?cycle=2020&amp;id=D000000165">spent nearly $11 million</a>, and Honeywell spent nearly $5 million, <a href="https://www.opensecrets.org/federal-lobbying/clients/summary?cycle=2020&amp;id=D000000334">according to OpenSecrets</a>.The defense-contracting industry also has huge influence on other congressional panels, including the House and Senate Appropriations committees that funnel hundreds of billions of federal dollars every year into government programs and contractors, Hedtler-Gaudette said. Numerous federal policymakers also have defense contractors in their states and districts, who call up lawmakers as the defense spending bills are being drafted to warn that people will lose jobs if funding decreases. "The hardest thing to do is 'vote against the military' or 'vote against the troops,'" Hedtler-Gaudette said. "That's why every year you see an increase in the Pentagon's spending budget."Numerous federal policymakers also have defense contractors in their states and districts. Their job is to call up lawmakers as the defense-spending bills are being drafted to say people will lose their jobs if funding decreases. This year, as Congress prepared to debate the National Defense Authorization Act for fiscal year 2022, Rep. Diana Harshbarger, a Republican of Tennessee, purchased thousands — possibly up to tens of thousands — of dollars of stock in the defense contractors Oshkosh Corp. and Raytheon, according to a federal financial <a href="https://www.documentcloud.org/documents/21152982-harshbarger-november-2021">disclosure</a>.Harshbarger, who <a href="https://www.businessinsider.com/diana-harshbarger-congress-stocks-violation-stock-act-trades-tennessee-2021-8">Insider in August reported</a> violated the federal Stop Trading on Congressional Knowledge Act through her tardy disclosure of hundreds of stock trades, is a member of the House Committee on Homeland Security. The committee has congressional oversight responsibilities for the Department of Homeland Security, an agency that <a href="https://www.raytheon.com/news/feature/defending-gov">frequently</a> <a href="https://washingtontechnology.com/articles/2017/06/19/raytheon-dhs-domino-contract.aspx">contracts</a> with Raytheon, for one. The congresswoman employs a financial planner to manage her portfolio "without any authorization, direction, or approval from Congresswoman Harshbarger," said Zac Rutherford, her chief of staff.<div type="image" title="GOP Reps. Diana Harshbarger (left) and Marjorie Taylor Greene (right) pose for pictures on the steps of the US Capitol on freshman picture day." height="1333" width="2000" msid="88256711" hostid="261"></div>Meanwhile, Rep. Marjorie Taylor Greene, the Georgia Republican whom the House <a href="https://www.rollcall.com/2021/02/04/marjorie-taylor-greene-does-not-renounce-past-comments-as-house-moves-to-punish-her/">stripped</a> of committee assignments earlier this year over the 1st-term congresswoman's history of violent comments and promotion of conspiracy theories, purchased up to $15,000 worth of Lockheed Martin stock as recently as November 15, <a href="https://www.documentcloud.org/documents/21152983-greene-november-2021">federal records</a> indicated.<h2>Conflicts between stock portfolios and constituents</h2>Government watchdogs criticized the practice of US lawmakers trading in defense-contractor stocks, especially members of the committees with oversight of policy, budgets, and spending."It is impossible to avoid the appearance of a conflict of interest when you have individual stock in a company whose industry you influence, and you can pick the winners and losers," Kedric Payne, the general counsel and senior director of ethics at the nonprofit Campaign Legal Center, told Insider.Divorcing policymaking power from personal enrichment is paramount to preserving our democracy, officials at the nonprofit watchdog organization Citizens for Responsibility and Ethics in Washington said."Americans shouldn't have to be concerned about members of Congress being more focused on their stock portfolio than on the country's problems and their constituents' best interests," Meghan Faulkner, CREW's digital director, <a href="https://www.citizensforethics.org/news/analysis/its-time-to-ban-congressional-stock-trading/">wrote</a>.One of her colleagues who spoke to Insider put it more bluntly. This person who was not authorized to speak to a reporter flat out urged Congress to ban individual stock trading — for the good of everyone. "At worst, it's a sign of abject corruption," the CREW aide told insider. "And at best, it's a distraction — even for well-meaning members — from the work that they're actually supposed to be doing: passing laws and conducting oversight." Senior correspondent Robin Bravender contributed to this report.

At least 15 lawmakers who shape US defense policy have investments in military contractors

<ul class="summary-list"><li>Americans flocked across the US-Canada border after its reopening to vaccinated US tourists.</li><li>Crossings have since dropped given strict requirements and the end of the summer <keyword id="11896628" type="UNKNOWN" weightage="60" keywordseo="travel" source="Orion">travel</keyword> season.</li><li>Canadian businesses haven't been able to capitalize on the border reopening as leaders had hoped. </li></ul>Canadians expecting a tsunami of US visitors once the border reopened were disappointed to find that Americans had other travel plans. The US-Canada border finally opened to vaccinated American travelers on August 9, allowing US tourists to visit the Great White North for the first time since March 2021.Eager Americans flocked to the country and <a href="https://www.businessinsider.com/pictures-long-lines-to-canada-border-reopens-travel-ban-lifts-2021-8">wait times at the border totaled seven hours in some locations</a>. <keyword id="6356687" type="UNKNOWN" weightage="60" keywordseo="canada" source="Orion">Canada</keyword>'s newly-reopened border drew around 219,000 non-commercial crossings, according to Canada Border Services Agency crossing data viewed by the <a href="https://www.wsj.com/articles/canada-border-reopening-draws-few-americans-11630767602">Wall Street Journal</a>, in its first week. The high point for 2021 was around 15% of summer 2019's crossing levels.But crossings dropped as summer came to a close, and businesses in <keyword id="12039928" type="UNKNOWN" weightage="60" keywordseo="border-towns" source="Orion">border towns</keyword> are still without the American customers on which they rely. That's because the <keyword id="12039927" type="UNKNOWN" weightage="60" keywordseo="canadian-border" source="Orion">Canadian border</keyword> isn't as easy to cross as it once was. Gone are the days when just the flash of a passport and a few questions from a border guard would grant entry into Canada.Vaccinated American citizens looking to travel north need a negative COVID-19 PCR test taken no more than 72 hours from a flight's scheduled departure or arrival at a land border crossing. Travelers that have recently recovered from COVID-19 can show a positive test from between 14 and 180 days prior to entry.Antigen tests are not accepted to enter Canada, as <a href="https://www.businessinsider.com/what-its-like-visit-uk-vaccinated-american-how-covid-testing-2021-8">they are to enter other countries such as the UK</a>. Unvaccinated travelers or those within 14 days from their final vaccine dose are also not allowed to enter Canada. And before arriving in Canada - whether by air, land, or sea - travelers must have completed an online form called "ArriveCan." Its requirements include providing an address in Canada at which visitors could quarantine should they test positive and providing the exact dates of a traveler's vaccination. Upon arrival at the border, CBSA personnel now perform a question-based health screening to each arrival, increasing crossing times.Business leaders cite the restrictions as the reason for a reduction in casual crossings."In the past, you'd have people who just crossed the border for dinner and then drove back home," Ritu Khanna, executive director of the South Surrey &amp; White Rock Chamber of Commerce in Canada's British Columbia province, told the <a href="https://www.wsj.com/articles/canada-border-reopening-draws-few-americans-11630767602">Wall Street Journal</a>. "Now, the feeling is, people are coming cautiously, still, because there are so many requirements."Foreign visitors to the country arriving by air rose by 67%, the Journal reported, but those travelers typically bypass border cities altogether and land directly in Canada's major cities. Not all businesses have felt the squeeze as one eco-lodge operator in Manitoba has been reporting an increase in customers since the reopening announcement. Adam Pauls of Churchill Wild told the Journal that foreign visitors are the reason his business is booked to capacity from mid-September, albeit with the business operating at limited capacity due to government restrictions. The US is also contributing to the problem as Canadians have less of a reason to pass through their own border cities. Canadians are not allowed to cross the land border for non-essential reasons through at least September 21, as part of the ongoing border closure that the Biden administration is keeping in place. Air travel into the US remains unrestricted and Canadians can fly into the US for non-essential reasons. Some businesses near the border have adapted, including <a href="https://markets.businessinsider.com/news/stocks/canadians-rushing-us-border-cities-creates-opportunity-for-businesses-2021-4">a helicopter company that flies tourists from St. Catherines, Ontario near Niagara Falls to Buffalo, New York to avoid border restrictions</a>. Canada is expanding entry to all other fully vaccinated foreign nationals on September 7, which may give businesses more of a boost. But with the summer coming to its official close, seasonal American tourists are becoming a negligible source of revenue for many Canadian businesses.

Americans rushed to Canada when it first opened but crossing data shows the Great White North has lost its allure - and businesses on the border are most impacted

Members of Congress publicly blast Facebook but quietly invest their savings in the social-media giant

<ul><li>Three of the star kids making their debut next year are starring in Zoya Akhtar’s Netflix original, The Archies. </li><li>Though his debut project is yet to release, Amitabh Bachchan’s grandson Agastya Nanda has already signed his second film, with National Award-winning director, Sriram Raghavan. </li><li>Shah Rukh <keyword id="6355601" type="General" weightage="100" keywordseo="khan" source="Orion">Khan</keyword>’s son Aryan Khan will also be debuting in the industry, but as a writer-director and not an actor. </li></ul>The magic that Khans, Kapoors and Kumars bring to the silver screen might be waning, but fret not. Come 2023, a new set of stars are all set to make their debut — and needless to say most of them are star kids. The third generation of the Bachchan family has also been bitten by the acting bug, and the Khans who ruled the Bollywood since the 80s are now launching their children in the industry. Three of them are making their debuting with the same film, Zoya Akhtar’s Netflix original, The Archies - which generated a meme storm after the teaser dropped. <div type="javascript" title="Instagram" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> <div type="twitter" handle="Purba_Ray" handlename="Ray Stings" image="http://pbs.twimg.com/profile_images/1591309239305506816/7dvm8pbv_normal.jpg" favoritecount="37" retweetcount="6" status="Zoya Akhtar knows everyone will watch the Archies, either to critique the star kids for their acting skills or priv… https://t.co/WtcGnSo6nf" createdat="1652584899000" id="1525677763814129664"></div> <div type="twitter" handle="LOLrakshak" handlename="Kajol Srinivasan - Turned on by unsolicited advice" image="http://pbs.twimg.com/profile_images/1579840068919111681/3v55LlAS_normal.jpg" favoritecount="47" retweetcount="0" status="A more apt name for Zoya Akhtar's movie would be 'The Suhanas'.#Netflix #thearchies" createdat="1652529345000" id="1525444752384020481"></div> <div type="twitter" handle="zaithakoor" handlename="zai" image="http://pbs.twimg.com/profile_images/1305087925307105281/ku6WCzGt_normal.jpg" favoritecount="10" retweetcount="0" status="The fact that they might call jughead, juggu or juggy in zoya akhtars #TheArchies is already making me upset" createdat="1652722473000" id="1526254791097479168"></div> A lot of current stars like Ranbir Kapoor, Alia Bhatt, Arjun Kapoor, Sara Ali Khan, Janhvi Kapoor, and Ananya Panday hail from film families. While star kids have been flocking the industry for a long while–since the era of Twinkle Khanna, Kajol, Sunny and Bobby Deol, and others – not all of them have fared well with the audience. <div type="image" title="Khushi, Jahnvi and Shanaya Kapoor" msid="96254907" hostid="261"></div>Now, it’s up to the next generation of newbies to prove their mettle. So here’s a look at the new star kids on the block, hitting the screens – both small and big – next year: <cmsannotation type="cmsannotation" annotationid="Suhana Khan" comment="subhead2" text="Suhana Khan">Suhana Khan</cmsannotation> Suhana Khan, the daughter of Bollywood’s Badshah Shah Rukh Khan, will make her digital debut in director Zoya Akhtar’s upcoming <a href="https://www.instagram.com/p/Cdhnd2uqVyR/?hl=en">Netflix film, The Archies</a>. She's also been <a href="https://www.indiatoday.in/lifestyle/celebrity/story/shah-rukh-khan-daughter-suhana-khan-brand-ambassador-maybelline-2358838-2023-04-12" data-type="tilCustomLink">named</a> the brand ambassador of the New York-based beauty brand Maybelline. Suhana, who also grabbed eyeballs (and a fair share of criticism) when she appeared on the cover of Vogue in 2018, technically made her acting debut with the 2019 short film <a href="https://www.youtube.com/watch?v=A9SKzvqD2vQ&amp;ab_channel=TheodoreGimeno">The Grey Part of Blue</a>. The film was selected to be showcased at the 2019 Miami Independent Film Festival. <div type="image" title="Suhana Khan" msid="96254956" hostid="261"></div>Suhana, who is 22 years old, attended the NYC Tisch School of the Arts in New York. <cmsannotation type="cmsannotation" annotationid="Aryan Khan" comment="subhead2" text="Aryan Khan">Aryan Khan</cmsannotation> Shah Rukh Khan’s eldest son, Aryan Khan, has decided he does not belong in front of the camera, but behind it - as he’s debuting as a writer and director in Bollywood. <div type="image" title="Aryan Khan" msid="96255037" hostid="261"></div> He recently <a href="https://www.instagram.com/p/Cl1JVwjqwPX/">completed </a>the script for his web series and shared the news on Instagram. Khan will also be directing the series under the Red Chillies Entertainment banner, owned by his father. While the series is expected to go on floors in 2023, its release date hasn’t been provided yet. Aryan graduated from the University of Southern California in Bachelor of Fine Arts, Cinematic Arts, Film and Television production in 2021. Aryan has previously dubbed the Hindi versions of Disney’s The Lion King (2019) and Pixar’s The Incredibles (2004), with his father. <cmsannotation type="cmsannotation" annotationid="Agastya Nanda" comment="subhead2" text="Agastya Nanda">Agastya Nanda</cmsannotation> The grandson of Bollywood’s original ‘angry young man’ Amitabh Bachchan, Agastya Nanda is all set to appear on the digital screen with Suhana Khan in The Archies. Bachchan also <a href="https://www.instagram.com/p/CdhnfXKK_fv/?hl=en">shared the film’s poster on his Instagram </a>to congratulate Nanda. The son of author Shweta Bachchan and businessman and Escorts Chairman Nikhil Nanda, Agastya is only 22 years old. <div type="image" title="Amitabh Bachchan and Agastya Nanda" msid="96255791" hostid="261"></div> Though his debut project is yet to be released, Nanda has already <a href="https://www.instagram.com/p/Cl6AbvfsQcm/?utm_source=ig_embed&amp;ig_rid=99831153-2f4e-44b8-a078-577a33757bc5">signed </a>his second film - National Award-winning director Sriram Raghavan’s upcoming war drama Ikkis. Based on the life of Second Lieutenant Arun Khetarpal, PVC, Ikkis also stars veteran actor Dharmendra. <cmsannotation type="cmsannotation" annotationid="Khushi Kapoor" comment="subhead2" text="Khushi Kapoor">Khushi Kapoor</cmsannotation> The younger daughter of late actor Sridevi and producer Boney Kapoor, Khushi Kapoor is all set to follow her sister, actor Janhvi Kapoor’s footsteps. Khushi, whose fashion game has already made her popular among GenZ, will join star kids Suhana Khan and Agastya Nanda in Netflix’s The Archies. As <a href="https://www.netflix.com/in/title/81134807#:~:text=Director%2Fproducer%20Zoya%20Akhtar%20and,Watch%20all%20you%20want.">per Netflix</a>, The Archies is a live action musical set in 1960s India. <div type="image" title="Khushi Kapoor" msid="96255754" hostid="261"></div> While her sister Janhvi learned the ropes of acting from the famous Lee Strasberg Theatre and Film Institute, Khushi chose <a href="https://www.nyfa.edu/videos/tag/khushi-kapoor/">to study acting </a>at the New York Film Academy before she made her debut. <cmsannotation type="cmsannotation" annotationid="Shanaya Kapoor" comment="subhead2" text="Shanaya Kapoor">Shanaya Kapoor</cmsannotation> Daughter of actor Sanjay Kapoor and jewellery designer Maheep Kapoor, Shanaya Kapoor is the latest star kid to be launched by Karan Johar’s Dharma Productions. Shanaya, who is the cousin of Sonam and Arjun Kapoor, will be seen in director <a href="https://www.instagram.com/p/CaoS1GnNGYr/">Shashank Khaitan’s Bedhadak</a>, alongside actors Gurfateh Pirzada and Lakshya Lalwani. <div type="image" title="Shanaya Kapoor" msid="96255661" hostid="261"></div> Shanaya was an assistant director on her cousin Janhvi’s film, Gunjan Saxena. She has also bagged ads for brands like Samsung, Ritu Kumar and Naturali. She even made a brief appearance on the reality show starring her mother, Netflix’s Fabulous Lives of Bollywood Wives. <cmsannotation type="cmsannotation" annotationid="Junaid Khan" comment="subhead2" text="Junaid Khan">Junaid Khan</cmsannotation> In 2021, actor Aamir Khan’s son Junaid Khan signed a film with Yash Raj Films. Multiple reports have stated that the film is based on the 1862 Maharaj Libel Case. As per <a href="https://www.bollywoodhungama.com/news/bollywood/aamir-khan-opens-son-junaid-khans-bollywood-debut-aditya-chopra-saw-one-screen-tests-liked-offered-script/">Aamir Khan’s own admission</a>, Junaid had auditioned for Mira Nair’s A Suitable Boy (streaming on Netflix), but was rejected. Junaid also starred in his sister, Ira Khan’s debut play Medea, based on Euripides' Greek play of the same name. <div type="image" title="Junaid and Ira Khan" msid="96255618" hostid="261"></div> Taking off from his father’s love for serious cinema, Junaid selected a legal drama as his debut project. As per reports, he will be playing a lawyer in the film. Also, like his father, Junaid too is conspicuously absent from social media. But he did grab the headlines last year for his incredible physical transformation. <cmsannotation type="cmsannotation" annotationid="Pashmina Roshan" comment="subhead2" text="Pashmina Roshan">Pashmina Roshan</cmsannotation> Daughter of music director Rajesh Roshan and cousin of actor Hrithik Roshan, Pashmina Roshan is all set to <a href="https://www.instagram.com/p/CeSxM0ZgXxx/?utm_source=ig_embed&amp;ig_rid=83e60a10-0e14-4add-94a7-47f24ad22617">debut in the romantic drama Ishq Vishk Rebound </a>- a remake of the hit 2003 film Ishq Vishk which was Shahid Kapoor’s debut movie. The reboot also stars actors Rohit Saraf, Naila Grewal and Jibraan Khan. <div type="image" title="Pashmina Roshan" msid="96255597" hostid="261"></div> As per reports, Pashmina Roshan studied at Barry John’s acting school. Aged 27, she is one of the oldest stars on the list. In 2018, she also <a href="https://www.mumbaitheatreguide.com/dramas/reviews/the-importance-of-being-earnest-english-play-review.asp#">starred </a>in Jeff Goldberg Studio’s production of Oscar Wilde’s play The Importance of Being Earnest. <cmsannotation type="cmsannotation" annotationid="Alizeh Agnihotri" comment="subhead2" text="Alizeh Agnihotri">Alizeh Agnihotri</cmsannotation> Daughter of actor and producer Atul Agnihotri and fashion designer Alvira Khan, Alizeh Agnihotri will be <a href="https://www.instagram.com/p/Cl1B366BlAR/?hl=en">debuting </a>with director Soumendra Padhi's next film. Padhi, who won the National Award for his film Budhia Singh: Born to Run, also directed the Netflix original series Jamtara. <div type="image" title="Alizeh Agnihotri" msid="96255548" hostid="261"></div> Only 22, Alizeh is also actor Salmna Khan’s niece. She <a href="https://www.instagram.com/p/Bl0LCPRHi4C/?hl=en">graduated </a>from the SOAS University of London in 2018, and has an elder brother, <a href="https://www.instagram.com/p/B3UFN3QgYgq/?hl=en">24-year-old </a>Ayaan Agnihotri. <cmsannotation type="cmsannotation" annotationid="Ibrahim Ali Khan" comment="subhead2" text="Ibrahim Ali Khan">Ibrahim Ali Khan</cmsannotation> If <a href="https://www.bollywoodhungama.com/news/bollywood/karan-johar-fox-star-studios-launch-ibrahim-ali-khan-hridayam-remake/">reports </a>are to be believed, Ibrahim Ali Khan may soon be following in the footsteps of his parents – actors Saif Ali Khan and Amrita Arora, and sister Saif Ali Khan. The young nawab may be debuting with the Hindi remake of the 2022 Malayalam hit Hridayam. <div type="image" title="Ibrahim and Sara Ali Khan" msid="96255500" hostid="261"></div> Ibrahim is <a href="https://www.instagram.com/p/Cgwasqhscsv/?hl=en">currently working </a>as an assistant director on Karan Johar’s upcoming drama Rocky Rani KI Prem Kahani. In fact, he even made a fun video with Bhatt and Singh, <a href="https://www.instagram.com/tv/CXanQEgDLxG/?hl=en">recreating a scene </a>from Karan Johar’s blockbuster family drama, Kabhi Khushi Kabhie Gham to celebrate the film’s 20th anniversary. <cmsannotation type="cmsannotation" annotationid="Aasmaan Bhardwaj" comment="subhead2" text="Aasmaan Bhardwaj">Aasman Bhardwaj</cmsannotation> Aasmaan Bhardwaj, the son of ace film director and music composer Vishal Bhardwaj, will also be making his directorial debut in 2023 with the dark comedy, Kuttey. Slated to release on January 13, 2023, the film stars Arjun Kapoor, Naseeruddin Shah, Tabu, Konkona Sen Sharma, Kumud Mishra, Shardul Bhardwaj, and Rashmika Mandana. <div type="image" title="Aasmaan and Vishal Bhardwaj" msid="96255366" hostid="261"></div> The managing director for Vishal Bhardwaj Films, Aasmaan describes himself as a writer, musician, and amateur golfer on his Instagram account. He graduated with a degree in Bachelor in Fine Arts in 2019, from the School of Visual Arts in New York. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/a-quarter-of-indian-gig-workers-salaries-grew-by-50-in-the-last-one-year/articleshow/96253213.cms">A quarter of Indian gig workers’ salaries grew by 50% in the last one year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/how-many-startups-turned-unicorns-in-2022-in-india-check-out-the-list/articleshow/96248261.cms">New Indian unicorns get rarer in 2022 as funding winter sets in</a>

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