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Sep 21, 2018

The Wall Street Journal: What's News

The Wall Street Journal.
Newspaper.
WHAT’S NEWS
Good Morning
Here’s what we’re watching as the U.S. business day gets under way:
Kavanaugh's accuser is open to testifying before the Senate panel.Christine Blasey Ford, who has accused Supreme Court nominee Brett Kavanaugh of sexually assaulting her when they were teenagers, is willing to testify if certain conditions are met—though not at Monday's hearing.
  • Nomination faces growing opposition among voters.According to a new WSJ/NBC News poll, 38% of registered voters oppose the Kavanaugh nomination, up from 29% last month. College-educated women are particularly sour on the judge: 49% of them oppose his nomination, while 28% support it.
     
  • Can the FBI investigate the accusations? As lawmakers spar over how to address the allegations of sexual assault, it would be President Trump's callto direct the FBI to look into Mr. Kavanaugh's background before he was an adult.
 
Michael Cohen met multiple times with Mueller's team. President Trump's former personal attorney has met several times in recent weeks with the special counsel's investigators, who asked about Mr. Trump and his business dealings with Russia.
U.S. stocks hit fresh records. The Dow closed at a new high for the first time since January—a sign of investors’ conviction in the economy. Global stocks extended gains Friday ahead of the reclassification of 23 companiesvalued at $2.7 trillion, including Facebook and Google-parent Alphabet.
A blind auction complicates the bidding for Sky. The same type of blind auction used to pick players in fantasy football leagues could decide the fate of Sky, as Comcast is slated to bid against Disney and 21st Century Fox in a day-long auction on Saturday. 
OPEC and its Russia-led counterparts are meeting. As international oil prices flirt with multiyear highs and sanctions on Iran continue to bite, the cartel's members say they will be wary of pumping too much oil after President Trump has repeatedly taken public aim at OPEC this year.
Retiring soon? When the stock market becomes historically expensive, research shows it can be a harbinger of below-average future returns, which can be especially painful for retirees with long life expectancies. The good news: there are steps you can take to partly protect your portfolio when stocks are down. 
 

What's Trending

ILLUSTRATION: PETER ARKLE
Amazon's two-day shipping is disrupting retail. With $119-a-year Prime program including more than 100 million members worldwide, an arms race has begun, the Journal's Christopher Mims writes. Separately, Amazon unveiled new Echo speaker devices and an Alexa-enabled chip that manufacturers can install to control basic appliances.
 
Google continues to allow apps to scan data from Gmail.Responding to Capitol Hill questions about privacy, the tech giant said the practice continues. Separately, Google workers discussed ways to tweak its search function to show users how to contribute to pro-immigration groups after the Trump administration instituted a travel ban.
EU leaders rejected the U.K.'s post-Brexit economic proposal. The spurning of a plan Prime Minister Theresa May called the “only serious and credible proposition on the table” will likely boost her party rivals who want to fundamentally sever Britain’s ties with the bloc.
Youth vaping is soaring in 2018. The number of high schoolers who used e-cigarettes in the past 30 days has risen roughly 75% since last year, totaling about three million, or roughly 20% of all high-school students.
Goldman Sach's stock-trading chief is leaving the firm. Paul Russo, who has run the equities business since 2012, is the first senior departureas incoming Chief Executive David Solomon puts his own team into place. 
Will elevators to outer space get off the ground? Supporters see them as a way to ferry people and goods to space for a lower cost than rocket trips, but the far-off goal faces significant engineering and political challenges.
Airlines are fighting the push to regulate ticket-changing fees.Ahead of a bill to reauthorize the Federal Aviation Administration's operations, some lawmakers want to include a provision that could limit the $3 billion in fees passengers pay annually to change their flights.

Chart of the Day

400 murders a day. That's the crisis plaguing Latin America as the region accounts for 8% of the world's population but a third of its murders. Crime is slowing development and spurring migration to the U.S. 
 

News From Other Sources

Samsung plans to lower chip growth amid an expected slowing in demand. The company now expects bit growth of less than 20% for dynamic random-access memory and a rise of 30% for Nand flash.
via Bloomberg
Uber is in early talks to buy Deliveroo. A bid for London-based Deliveroo, last valued at more than $2 billion, would mark a major attempt by Uber to dominate the food-delivery business in Europe.
via Bloomberg
The plot to subvert an election. To travel back to 2016 and trace the major plotlines of the Russian attack is to underscore what we now know with certainty: The Russians carried out a landmark intervention that will be examined for decades to come.
via the New York Times
 

This Day in History

Sept. 21, 1981
Sandra Day O'Connor Confirmed to Supreme Court
"Judge Sandra O'Connor was approved unanimously by the Senate as the Supreme Court's first female Justice," the Journal reported a day later. "She is to be sworn in Friday to succeed Potter Stewart, who resigned July 3. A few Senators questioned her judicial views on abortion, which she said she personally opposes."
THE WALL STREET JOURNAL
 
—Compiled and edited by Phil Nobile in New York and Cicely K. Dyson in London