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Progress, but still no deal, as debt ceiling talks run headlong into Memorial Day weekend.

And what problems it start up, Lordstown Motors. Tell us about the state of the one's

very popular electric vehicle market. There was a lot of excitement in the market about these EV

startups that could possibly take on Tesla. What we're seeing now is the market starting to thin out

and reality starting to sink in. Plus, Disney and Comcast share ownership of the streaming

service Hulu, but that may not last long. Everyone believes right now that eventually this will

result in Disney owning Hulu outright. But the issue is, what is it worth?

It's Friday, May 26th. I'm D.M. Ruboan for the Wall Street Journal, filling in for

Ann Marie for Toly. This is the PM edition of What's News, the top headlines and business stories

that move the world today.

There is a new deadline for negotiators to raise the US debt ceiling.

In a letter to House Speaker Kevin McCarthy released this afternoon, treasury secretary Janet

Yellen said that June 5th is the date on which the US Treasury will not have enough to pay for

all the government's obligations. Yellen had previously estimated the so-called X-date could be

as early as June 1st. Meanwhile, Congress has left town, but negotiators from President Biden's

team and Speaker McCarthy's office are still trying to hammer out a deal to raise the debt limit.

Wall Street Journal reporter David Harrison is at the US Capitol. David, even with the bit of

a reprieve, Congress may not be able to beat the deadline because there are still a number of

procedural hurdles to jump through. Walk me through that.

...