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Rangling continues on Capitol Hill over who will be the next speaker of the house.

And Southwest Airlines tries to make amends with customers whose flights were canceled, but is even more backlash on the way.

We've had several lawmakers come out being very critical of Southwest.

Secretary Buttigieg has been critical.

So whether this sparks any renewed energy behind further regulations, further consumer protection measures for the whole industry,

that's something that we could see in the next few months.

Plus, why Bed Bath and Beyond is considering bankruptcy.

It's Thursday, January 5th.

I'm Ann Marie for Tolly for the Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that moved the world today.

For a third day, there is no speaker of the house, says Kevin McCarthy hasn't rallied the support of enough of his Republican colleagues to clinch the majority, even with a series of concessions.

Wall Street Journal editor Aaron Zitner says McCarthy's floor fight mirrors a broader battle over who should lead the GOP, after Republicans only narrowly took control of the house in the last election.

Some of what seems to be animating these 20 dissidents in the house who won't vote for Kevin McCarthy are in need to answer to a very conservative Republican base in which Donald Trump and his style of politics are popular.

There are lawmakers with one exception from very Republican districts.

And the discussion is the best way forward to follow the activists and to stick in the Trump mold or to say, hey, we're losing statewide elections by doing that.

And we need a more inclusive, less divisive, more accommodating posture, maybe a return to the pro-business standard conservative posture that the party was once known for.

Aaron says the party's divisions will also be laid out in the upcoming votes for leadership of the Republican National Committee and state GOP committees.

The Biden administration is launching its broadest effort yet to stem a surge in migrant crossings at the southern border.

Our immigration reporter, Michelle Hackman, says the new plan relies on some Trump-era policies.

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