Financial Markets and Economy
Trump Regulation Rollback May Threaten U.S. Firms' EU Access (Bloomberg)
President Donald Trump’s planned rollback of financial rules could undermine years of trans-Atlantic negotiations and threaten U.S. firms’ access to European Union capital markets, according to the bloc’s financial-services policy chief.
Traders Glued to These Trump Stock Trades Ahead of Address (Bloomberg)
While investors in every asset class will be hanging on President Donald Trump’s speech to Congress Tuesday, it’s those who have furiously bid up equities — in hot-topic sectors like financials, retail and health care — who may have the most on the line.
Inside Harvard’s Radical Plan to Reverse a Decade of Poor Returns (The Wall Street Journal)
The new head of Harvard University’s endowment is wasting little time getting his turnaround plan into place.
Just weeks after starting as head of the $36 billion endowment in December, N.P. Narvekar, who goes by “Narv,” said in late January that he would lay off half the staff.
Saudi Arabia Bulks Up in Asia to Boost Appeal Before Oil IPO (Bloomberg)
Saudi Arabian Oil Co. bought half of a Malaysian oil refinery and petrochemical plant as it prepares for what may be the biggest ever initial public offering by bulking up its business in Asia, its largest market.
‘Inverted’ Model Said to Be Considered for NYSE’s Newest Exchange (The Wall Street Journal)
The New York Stock Exchange is considering a time-honored move to boost market share: copy an innovation from competitors.
Greece Said to Expect Revised Bailout Draft as Talks Resume (Bloomberg)
Greece’s auditors are pulling together a list of policies the country needs to implement to unlock additional bailout funds as talks with Athens resumed on Tuesday, two people familiar with the matter said.
President Xi: China aims to improve economy's quality, efficiency – Xinhua (Reuters)
China will strive to improve the quality and efficiency of the economy and deepen supply-side structural reforms this year, the official news agency Xinhua quoted President Xi Jinping as saying on Tuesday.
Nikkei rallies on Fed news as investors digest Trump’s speech (Market Watch)
President Donald Trump’s speech to Congress had little initial effect on markets, with asset prices near earlier levels in Asia as focus quickly returned to the likelihood of a March interest-rate increase by the Federal Reserve.
China Considering Financial Rewards to Encourage Second Children (Bloomberg)
China is weighing subsidies for couples who have a second child to help increase the birthrate after authorities scrapped a decades-old one-child policy in 2015, official media reported.
European stocks are bouncing on Wednesday after Donald Trump's Congressional speech on Tuesday evening, struck a much less divisive and more constructive tone, in a speech that was dubbed his most "presidential" since taking the office of US President.
New U.S. trade policy seeks to challenge influence of World Trade Organization (The Wall Street Journal)
The Trump administration is developing a national trade policy that would seek to diminish the influence of the World Trade Organization in the U.S. and champion American law as a way to take on trading partners it blames for unfair practices, according to a draft document reviewed by The Wall Street Journal.
European stocks advance as Fed officials signal U.S. ready for next rate hike (Market Watch)
European stocks leapt Wednesday, bolstered as the euro pulled back on heightened expectations of a U.S. interest rate increase, while investors assessed U.S. President Donald Trump’s address to Congress.
London will become home to 30% more super rich individuals by 2026, according to a report by property consultants Knight Frank.
Oil rises as OPEC sticks to output pledges (Reuters)
Oil reversed earlier losses on Wednesday as investors took heart from strict OPEC compliance with its pledge to cut output, although evidence of increasing U.S. production capped gains.
10 things you need to know in markets today (Business Insider)
Good morning! Here's what you need to know in markets on Wednesday.
1. President Donald Trump delivered his first major address to a joint-session of Congress amid internal Republican confusion about how the administration will pursue some of its major legislative priorities.
Companies
Target Plunges Most in Eight Years (Bloomberg)
Target Corp. became a retail phenomenon — and a stock market darling — with a rare mix of hip products and bargain prices.
Whether the company can stick to that playbook is now in doubt.
Samsung Group chief charged with bribery, corporate nerve center dismantled (Reuters)
South Korean prosecutors charged Samsung Group [SARG.UL] chief Jay Y. Lee with bribery and embezzlement on Tuesday as the top conglomerate announced the dismantling of its corporate strategy office, the latest developments in a graft scandal that has rocked the country.
Bitcoin’s Top Rival Is Up 90% and Ready to Ditch Mining (Bloomberg)
Thousands strong, they whir day and night, solving the complex math riddles that are essential to verifying transactions on the hottest new platform in the world of cryptocurrencies and blockchains. Without these machines, or those deployed by Streng’s biggest rivals, there would be no Ethereum.
Takata Pleads Guilty to Criminal Wrongdoing, Agrees to Pay $1 Billion in Penalties (The Wall Street Journal)
Japanese automotive supplier Takata Corp. pleaded guilty to criminal wrongdoing and agreed to pay $1 billion in penalties for providing misleading testing reports to auto makers on rupture-prone air bags installed in millions of vehicles.
The Most Powerful Brands In 2017 (Forbes)
Lego has been named the most powerful brand in the world. Every year consulting firm Brand Finance releases a list of the strongest brands, and Lego took the top spot for 2017.
Fidelity targets older employees with buyouts (The Wall Street Journal)
Fidelity Investments offered buyouts to thousands of older workers Tuesday, as competition and changing investor preferences pressure costs across its businesses.
Technology
Google has a bold vision for the future — but first, it has to avoid the mistakes of the past.
Remember Google Glass? It was one of Google's most notorious failures. A head-mounted computer that ran apps and let its wearer take videos and photos, it came to to symbolise the glaring disconnect between the tech industry and the real world.
Samsung Galaxy S8 leak shows a huge display and not much else (Engadget)
We're less than a month away from getting our first official look at Samsung's upcoming flagship phone. Evleaks has something for those who can't wait till then, though: a clear computer render that shows a device that looks like the previous leaked images of the Galaxy S8 and S8+.
The Nokia 3310 stole Samsung's show at MWC 2017 (Engadget)
In MWCs past, the event's news has typically been dominated by Samsung showing off its latest Galaxy flagship smartphone for the year.
Android One Is Back With General Mobile's GM6: Our First Take (Digital Trends)
Google launched the Android One program a few years ago to push its Android mobile operating system onto low-cost phones — but what differentiates devices under this program from other budget Android phones is how they run stock Android with a promise of updates straight from Google.
Google Confirms It Has No Plan To Create A Third Pixel-Branded Chrome OS Laptop (Digital Trends)
During the Mobile World Congress event in Barcelona, Spain, Google conducted a small meeting with journalists. Senior Vice President for Hardware Rick Osterloh took that time to reveal that, for now, Google has no plans to continue refreshing its Pixel-branded laptop family.
Politics
Trump Puts Final Touches on Speech Focusing on Economy, Defense (Bloomberg)
President Donald Trump was still working Monday evening on the final touches of an address to Congress that will focus on economic opportunity and national security, administration officials said.
California demands details of Trump administration immigration arrests (Reuters)
California legislative leaders on Monday demanded detailed information from the Trump administration on immigration arrests and raids in the most populous U.S. state, amid growing concern that agents are targeting non-criminals for deportation.
Trump to Urge Americans to Abandon ‘Small Thinking’ and Fights (Bloomberg)
President Donald Trump will emphasize in his first address to Congress three of the central themes that animated his presidential campaign and are the main thrusts of his early days in office: bolstering immigration enforcement, destroying the Islamic State and revamping the nation’s tax code to spark economic growth.
White House Dismisses Calls for Special Prosecutor to Investigate Russia Ties (The Wall Street Journal)
The White House defended Monday its decision to ask lawmakers and intelligence officials to help rebut allegations of ties between associates of President Donald Trump and Russia, while dismissing calls for a special prosecutor to investigate.
Former President Barack Obama is staging his political re-debut, Politico reported on Tuesday.
“It’s coming. He’s coming,” former attorney general Eric Holder said to a group of reporters at a briefing. "And he's ready to roll."
GOP Obamacare Plan Suffers Blow With Republican's Rejection (Bloomberg)
The leader of the largest group of House conservatives said Monday he couldn’t support the party’s existing Obamacare replacement strategy.
Donald Trump Is Set to Boost Military Spending (The Wall Street Journal)
President Donald Trump, in an address to Congress on Tuesday, will call for a $20 billion boost in current military spending and sharp cuts in other programs, and insist on raising budget caps that call for future cuts to defense outlays.
'America First' comes to Washington in Trump's first major address to Congress (Business Insider)
President Donald Trump took his "America First" vision to a joint session of Congress on Tuesday night, delivering his nationalist message in a way more palatable to the Washington, DC, crowd, successfully endearing many of the lawmakers and elites he vehemently fought against while seeking the White House.
Turkey Said to Seek U.S. Support to Attack IS Syria Bastion (Bloomberg)
Turkey is seeking U.S. support to lead a ground offensive against Islamic State’s main stronghold in Syria, a Turkish official said, a move that could give President Recep Tayyip Erdogan more influence in the conflict and undermine Kurdish groups linked to separatists he’s fighting at home.
Door knocks in the dark: The Canadian town on front line of Trump migrant crackdown (Reuters)
Jaime French was jarred out of bed in Emerson, Manitoba early one morning this month by pounding at her front door, just yards from the U.S. border. A face peered in through the window, flanked in the darkness by others.
Life on the Home Planet
South Korea, U.S. begin large-scale annual drills amid North Korea tension (Reuters)
South Korean and U.S. troops began large-scale joint military exercise on Wednesday conducted annually to test their defense readiness against the threat from North Korea, which routinely characterizes the drills as preparation for war against it.
The Death of Kim Jong Nam: Malaysia to Charge Two Women With Murder (The Wall Street Journal)
Prosecutors will seek the death penalty for two women suspected of killing North Korean dictator Kim Jong Un ’s half brother, authorities said, as a delegation from Pyongyang arrived here seeking the body of the dead man.
New Wave of Anti-Semitic Threats Rattle U.S. (The Wall Street Journal)
Jewish organizations and schools in more than a dozen states were evacuated Monday after receiving threatening phone calls, marking the fifth wave of such incidents this year.
Atmospheric rivers leave California dried out and then flooded (New Scientist)
The strongest storms California has seen in years have been drenching the state after five consecutive years of drought. Rainwater has filled reservoirs to the brim – with excess escaping down dam spillways or lapping over levees for the first time in decades – and there has been flooding up and down the state.
Supermassive Black Holes Could Be Killing Way More Stars Than We Realised (Science Alert)
It's one of the most violent endings in the cosmos: a star wandering too close to a supermassive black hole is torn asunder by its colossal gravitational forces.
Iraqi army controls main roads out of Mosul, trapping Islamic State (Reuters)
U.S.-backed Iraqi army units on Wednesday took control of the last major road out of western Mosul that had been in Islamic State's hands, a general and residents there said, trapping the militants in a dwindling area within the city.
