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What’s News |
| Good Morning Here’s what we’re watching as the U.S. business day gets under way: |
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Parliament sinks Theresa May's Brexit deal. British lawmakers overwhelmingly rejected a proposed Brexit plan, prompting the head of the opposition to call for a no-confidence vote against U.K. Prime Minister Theresa May and further stoking uncertainty around the U.K.’s exit from the EU in just over two months. |
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- Rejection puts EU in a bind. Faced with a damaging no-deal departure, the bloc must now decide whether to offer any concessions to Britain to secure an agreement and avoid an Irish border.
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William Barr issued a forceful defense of the Mueller probe. President Trump's attorney general choice sought to allay Democrats’ concerns that he might curtail Robert Mueller’s probe at the behest of Mr. Trump. At his confirmation hearing, Mr. Barr said he views Mr. Mueller as a fair-minded investigator. Here’s a look at where Mr. Barr stands on key issues. |
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Big banks find the sweet spot in higher rates. The Federal Reserve’s decision to raise its short-term rate four times in 2018 helped lift revenue at JPMorgan Chase and Wells Fargo during the last three months of the year, as the higher rates have yet to hit the bank's bottom lines. - Goldman Sachs, Bank of America and BlackRock will report earnings before the bell.
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White House tries to shake Democrats' resolve. As the partial federal government shutdown continues, the Trump administration is working to peel off rank-and-file Democrats from the party leadership to pick up votes for the president’s proposed border wall, but it is finding little appetite from caucus members to negotiate on their own. - Shutdown is a "hellacious situation." Federal contractors are feeling the squeeze as their lines of credit become exhausted and they face having to lay off workers.
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Trade war tops global risks, the World Economic Forum says. The threat of a full-blown global trade war and rising political tensions between world powers are the dominant global risks, according to a report by the organizers of the Davos gathering. |
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| PHOTO: ZACH GIBSON/BLOOMBERG NEWS |
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How to make money trading: Hack into the SEC and peek at 157 secret earnings reports. U.S. authorities charged overseas traders with breaking into a government computer system that stores market-moving corporate data, a breach that raised questions about the government’s ability to protect sensitive data in a relentless era of computer hacking. |
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Netflix is raising the prices on all of its subscription plans. The streaming giant's most popular plan will increase to $13 a month, up from $11, as Netflix looks to maintain its aggressive spending on content in the face of stepped-up competition. - Investors are chill about the price hikes. Investors are right to feel confident that Netflix's loyal subscribers will largely tolerate the increase, writes Heard on the Street's Elizabeth Winkler.
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Walmart could leave CVS Caremark pharmacy networks. A dispute over the cost of filing prescriptions could result in a split between the retail behemoth and the health-care giant, affecting people whose employers have CVS Caremark-administered drug benefits, as well as Medicaid enrollees with CVS drug coverage. |
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Why fast food at the White House? When President Trump served take-out burgers to football players it drew attention to a little-noted element of the more than three-week-old partial government shutdown: The president’s own staff is feeling the squeeze. |
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Detroit auto show tries to give a fresh start to the industry. The event will spend the next two weeks doing what it has done for more than a century: Showing off the latest car models. Check out our latest news from the event, including a new Toyota Supra and the effect of Ghosn's absence. |
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For children with cancer, hope for new treatments. A law requiring pharmaceuticals companies to test cancer drugs on children as well as adults is raising hopes for more therapies, with some firms already planning children’s drug trials for this year. |
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Why we react badly when the new sofa arrives. For the first three weeks after her new furniture is delivered, our design columnist Michelle Slatalla tends to absolutely hate it. Here, she analyzes this fairly common syndrome. |
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| Highlights from our technology coverage |
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America’s electric grid has a vulnerable back door. And Russia walked right through it. The Journal reconstructed the worst known hack into the nation’s power system, revealing attacks on hundreds of small contractors. The rules of the public divorce announcement have changed. Jeff and MacKenzie Bezos’ Twitter statement announcing their divorce “after a long period of loving exploration” provides a road map for couples navigating a breakup in the social-media era, Elizabeth Bernstein writes. Huawei’s founder: We aren’t spies for China. The CEO of the Chinese tech giant said his company would never spy for the nation, in a rare public appearance following the arrest in Canada of his daughter, the company’s financial chief. Apple’s next move: Be more like Microsoft. Now that Apple is on the defensive, its walled garden approach to services might be holding the company back from reaching vital audiences, Christopher Mims writes. The world’s first robot hotel has some regrets. Japan’s Henn na, or “Strange,” Hotel has laid off more than half of its 243 robots because they weren’t particularly good at hospitality. Many created more work for the hotel than reduced it. Want more tech? Get the WSJ Technology newsletter delivered to your inbox every Sunday and listen to your favorite tech columnists in our podcast, Instant Message. — Brian R. Fitzgerald |
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Lawsuits pose new challenges to state abortion laws. Abortion-rights activists concerned about the shrinking number of abortion providers are mounting court challenges in at least nine states, seeking to strike down statutes that make it a crime for clinicians such as highly trained nurses and midwives to provide early-term abortions. |
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BNP loses millions on S&P 500-linked derivative trades. France's largest bank lost $80 million in derivative trades linked to the U.S. stock benchmark last year. | via Bloomberg |
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German intelligence agency puts far-right party on notice. An agency founded to protect against the rise of political forces like another Nazi party took a first step toward placing Alternative for Germany under surveillance as a threat to the country’s democracy. | via New York Times |
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One in three U.N. workers say they have been sexually harassed in past two years. Only 17% of those eligible completed the survey, a response rate that suggested "an ongoing sense of mistrust, perceptions of inaction and lack of accountability,” said the U.N. secretary general. | via the Guardian |
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Persian Gulf War Begins The U.S.-led military coalition began Operation Desert Storm after Iraq ignored a United Nations' deadline for it to withdraw from Kuwait. Allied aircraft bombarded targets in and around Baghdad, with much of the world watching on television. Over the next six weeks, the military operation—which featured forces from 32 nations—engaged in massive air attacks against Iraq's military and civil infrastructure. A ground offensive began in February, followed by a speedy liberation of Kuwait. On Feb. 24, President George H.W. Bush declared a cease-fire and Iraq pledged to honor future coalition and peace terms. |
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| THE WALL STREET JOURNAL |
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