Financial Markets and Economy
Stocks up on reinvigorated Trump rally; Dow tops 20,000 (Reuters)
Global equity prices rallied and the Dow Jones Industrial Average blew past the psychological 20,000 level on Wednesday, lifted by strong Japanese trade data, robust earnings and investor hopes that U.S. President Donald Trump will press ahead with a large fiscal spending package.
Asian Shares Headed for 17-Month High After Dow Tops 20,000 (Bloomberg)
Asian stocks joined a rally in equities worldwide after the Dow Jones Industrial Average passed 20,000 for the first time amid expectations of stronger U.S. economic growth.
Trump Says the Jobless Rate is Phony. Try These Stats Instead (Bloomberg)
Every week, hosts Dan Moss, Kate Smith and Scott Lanman bring you a jargon-free dive into the stories that drive the global economy.
How Russia sold its oil jewel: without saying who bought it (Reuters)
More than a month after Russia announced one of its biggest privatizations since the 1990s, selling a 19.5 percent stake in its giant oil company Rosneft, it still isn't possible to determine from public records the full identities of those who bought it.
European Stocks at 13-Month High Rally Further as Banks Advance (Bloomberg)
European equities climbed for a third day, following gains in U.S. equities, as optimism grew over corporate earnings and economic growth.
Chinese Investor Scores With Southampton Premier League Team (Bloomberg)
China’s Lander Sports Development Co. agreed to buy a stake in Southampton, the English Premier League team, in what could become one of the highest-profile Chinese acquisitions in U.K. soccer.
Lead levels fall below federal limits in Flint, Michigan: state (Reuters)
Lead levels in Flint, Michigan's drinking water, the focus of a public health crisis, have fallen below federal limits, state officials said on Tuesday, although they cautioned residents to keep using filtered water as the city's old lead pipes are replaced.
High Tariffs on China, Mexico Wouldn’t Guarantee U.S. Jobs (The Wall Street Journal)
President Donald Trump’s preference for bilateral trade agreements could prove to be a game of Whac-A-Mole.
Much of Mr. Trump’s rhetoric has focused on China and Mexico, two of the U.S.’s biggest trading partners. He has threatened to impose a 45% tariff on Chinese goods and has gone after U.S. car companies with factories in Mexico, part of his campaign-trail promise to bring jobs back to the U.S.
U.K. Brexit Boom Still Sees Economy Plagued by Old Problems (Bloomberg)
The U.K. economy is maintaining its stellar performance since the Brexit vote, but the reasons may be cause for concern.
In Its Third Month, India’s Cash Shortage Begins to Bite (NY Times)
First, Yashpal Singh Rathore’s marriage was delayed by his future in-laws, who, like most Indians, ran short of cash after Prime Minister Narendra Modi banned the country’s largest currency notes in November.
Speak Chinese and Know What Basel III Means? Global Banks Want You (Bloomberg)
Even as investment banks cut jobs across Asia, they’re hiring staff to help China’s lenders reinforce buffers against a financial crisis.
UBS Says Dollar to ‘Roll Over’ Amid Trump Spending, Tax Cuts (Bloomberg)
The dollar has peaked and will probably decline this year under President Donald Trump, according to UBS Group AG’s wealth-management unit, which expects the currency’s impending weakness will help to benefit prices of base and precious metals.
Turkey's Erdogan plans to act rapidly on constitutional reform bill (Reuters)
Turkish President Tayyip Erdogan said on Wednesday he would act rapidly on a constitutional bill boosting his powers that was passed by parliament last week and which he must approve before it can go to a referendum.
Wall Street Is Hiring … in Florida (Bloomberg)
When Deutsche Bank sent senior Wall Street executive Leslie Slover to run its expanding outpost in Jacksonville, Fla., she wasn’t entirely ready for the lifestyle. Gone were the skyscrapers and subways.
Fourth-Quarter Growth Typical of Obama Era as Trump Tests Limits (Bloomberg)
The U.S. economy probably finished the Obama era with a performance typical of the almost eight-year expansion: growth near 2 percent, with consumer spending in the driver’s seat and little help from business investment or trade.
The Blatant "Border Tax" Threat Donald Trump Gave to Businesses Today (Money Morning)
This morning, President Donald Trump met with 12 big-name CEOs from across the nation to restate his administration's corporate tax cut promises.
Companies
IBM Touts Trump-Pleasing Hiring Plans While Firing Thousands (Bloomberg)
On the eve of a summit last month between technology executives and then President-elect Donald Trump, IBM Chief Executive Officer Ginni Rometty publicly pledged to hire about 25,000 U.S. workers and spend $1 billion on training over the next four years.
Novartis Weighs Spinoff of Alcon Eye-Care Business (The Wall Street Journal)
Novartis AG is considering spinning off its ailing eye-care business Alcon, one year into a slower-than-expected turnaround for that business.
Technology
Cisco snaps up AppDynamics for $3.7B right before its IPO (Tech Crunch)
Cisco said today that it would acquire AppDynamics, which helps companies monitor application performance, for a whopping $3.7 billion.
Samsung and Google could unite over AI (CNet)
Competition may be good for the soul, but so is collaboration. Samsung said at an earnings call earlier Wednesday that working with its often-partner, sometimes-rival Google will make artificial intelligence better on a range of devices.
Kik snaps up video chat app maker Rounds for a reported $60-$80 million (Tech Crunch)
Messaging company Kik has made its second major acquisition after it scooped up Israel-based mobile video app maker Rounds in an undisclosed deal.
Gmail will start blocking JavaScript attachments in February (Engadget)
If you want to email a .js file to somebody for any reason, you only have a few more days to do so through Gmail. The service will start blocking JavaScript file attachments starting on February 13th, adding it to its list of restricted file types, which includes .exe, .msc and .bat.
Google Maps For IOS Now Offers Real-Time Info On How Crowded A Place Is (Digital Trends)
Google Maps has been offering information on customer numbers at places like coffee shops and restaurants since 2015, though the obvious drawback was that it didn’t account for things like special events.
Politics
Trump Won’t Back Down From His Voting Fraud Lie. Here Are the Facts. (NY Times)
During a private meeting with congressional leaders on Monday, President Trump asserted that between three million and five million unauthorized immigrants had voted for his Democratic opponent and robbed him of a victory in the national popular vote.
U.S. Exit From Trans-Pacific Partnership Buoys Critics in Asia (The Wall Street Journal)
President Donald Trump’s decision to remove the U.S. from the Trans-Pacific Partnership is encouraging critics of the pact around Asia while some countries look for ways to keep it alive.
Trump Administration Makes Drug and Medical-Device Companies Nervous (The Wall Street Journal)
The pharmaceutical and medical-device industries are deeply unsettled about their future under Republican control in Washington, which presents threats as well as opportunities, according to industry officials and advisers.
As Trump stresses 'America First', China plays the world leader (Reuters)
China is calmly mapping out global leadership aspirations from trade to climate change, drawing distinctions between President Xi Jinping's steady hand and new U.S. President Donald Trump, whose first days have been marked by media feuds and protests.
Trump moves to 'build that wall' with Mexico, curb refugees (Associated Press)
President Donald Trump moved aggressively to tighten the nation's immigration controls Wednesday, signing executive actions to jumpstart construction of his promised U.S.-Mexico border wall and cut federal grants for immigrant-protecting "sanctuary cities."
Chicago mayor welcomes help, warns against deploying troops (Associated Press)
A day after President Donald Trump declared he was ready to "send in the Feds" if Chicago can't reduce its homicides, Mayor Rahm Emanuel warned against deploying the National Guard, saying it would hurt efforts to restore trust in the police.
Federal prosecutors slap felony charges on more than 200 inauguration protesters (Think Progress)
Some 230 people have been charged with felony rioting in Superior Court after Washington, D.C. police responded to a handful of property destruction incidents on Inauguration Day by rounding up everyone who was in the area at the time.
'1984' sales soar after Trump claims, 'alternative facts' (Associated Press)
After incorrect or unprovable statements made by Republican President Donald Trump and some White House aides, one truth is undeniable: Sales of George Orwell's "1984" are soaring
Britain to publish Article 50 bill as May agrees to set out Brexit plan (Reuters)
Britain said it would publish legislation on Thursday seeking parliament's approval to begin formal divorce talks with the European Union as Prime Minister Theresa May agreed to lawmakers' demands to publish her Brexit plan.
Glenn Beck’s latest conspiracy theory: Women’s March was George Soros, radical Islam “astroturf” (Right Wing Watch)
Glenn Beck opened his radio show yesterday by attacking the media for failing to report that last weekend’s massive Women’s March on Washington was nothing more than an “astroturf” rally orchestrated by George Soros and radical Islamic groups.
President Donald Trump “temporarily assigned” two Republican political operatives to the headquarters of Voice of America on Monday, raising concerns that he plans on transforming the network into a site for pro-Trump propaganda.
Profiles In Tremendousness – White House Press Secretary Sean Spicer (The Daily Show)
Press Secretary Sean Spicer begins his relationship with the media by defending President Trump's claims of voter fraud and refusing to state the U.S. unemployment rate.
Trump bans EPA employees from giving social media updates (The Hill)
President Trump has banned employees of the Environmental Protection Agency (EPA) from giving social media updates and speaking with reporters, according to The Associated Press.
U.S. Congress member met with Assad in Syria, discussed peace: CNN (Reuters)
Democratic U.S. Representative Tulsi Gabbard said on Wednesday she met with Syrian President Bashar al-Assad in Syria and discussed the possibility of achieving peace.
Health and Biotech
Gene-blocking therapy reverses Alzheimer’s-like symptoms in mice (New Scientist)
Targeting tangles of tau protein in mice with Alzheimer’s-like symptoms has reversed their brain damage, halting memory loss and extending their lives.
Life on the Home Planet
Living in the Dark: 240 Million Indians Have No Electricity (Bloomberg)
Screams alerted Dadasaheb Vidhate to the fire trapping three of his children in the family’s thatched-roof hut in rural India.
Beijing’s Plan for Cleaner Heat Leaves Villagers Cold (The Wall Street Journal)
China has opened a challenging chapter in its pollution battle, installing electric heaters in village homes near Beijing to cut winter coal-burning, but stoking discontent about rising power bills.
Extremist gunmen storm hotel in Somali capital, 11 killed (Associated Press)
At least 11 were killed and 50 injured Wednesday as Somali security forces ended a siege by extremist fighters who stormed a hotel in the capital, police said.
