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Jan 25, 2019

What's News: Shutdown Talks Resume; Venezuela's Military Backs Maduro; Cities Stash Cash

The Wall Street Journal.
What’s News
Sun icon. Good Morning
Here’s what we’re watching as the U.S. business day gets under way:
Shutdown talks resume after Senate bills fail. Rival proposals to end the partial government shutdown failed, prolonging the impasse that has stymied Washington for weeks and will leave hundreds of thousands of federal workers without a second paycheck today. But the failure reignited talks between the White House and Capitol Hill over a short-term fix.
  • Airlines warn shutdown strains are worsening. American, JetBlue, Southwest and other U.S. airlines said that passengers would soon face worse delays and more canceled flights if the partial federal government shutdown drags on further.
  • Schools worry meal programs will run out of cash. Amid the shutdown, districts around the country are concerned that funding for free and reduced-price meals—for which just under half of all public-school students, or about 30 million children, are eligible—could be in jeopardy.
Venezuela's military threw its support behind Nicolás Maduro. In a significant blow to the U.S. effort to back a parallel government and oust the authoritarian leader, the military said it would oppose any effort to remove Mr. Maduro after many Western democracies voiced support for opposition leader Juan Guaidó as the country’s legitimate president.
The Fed is considering a larger securities portfolio. Officials are close to deciding they will maintain a larger portfolio of Treasury securities than they’d expected when they began shrinking those holdings two years ago, putting an end to the Fed’s portfolio wind-down closer into sight. 
The U.S. will start returning some asylum seekers to Mexico. Part of a new border policy announced last month, the Trump administration is returning some asylum-seeking migrants to Mexico to wait for their U.S. immigration court hearings. But a judge’s decision on the final status of the migrants could take years amid a backlog of more than 809,000 cases.
Spy case linked to China raises red flags for Poland and the U.S. Authorities in Poland and the U.S. are probing the deep ties Beijing has forged in the strategically important country on NATO’s eastern frontier in the wake of high-profile arrests of a Chinese executive and a former Polish official.

What's Trending

What should we do about scandalous artists? Is an artist’s work tainted by personal wrongdoing? These questions have been at the heart of modern thinking about art, but since the advent of the #MeToo movement, they have begun to receive new kinds of answers.
Financial abuse of seniors hits a record. U.S. banks reported a record 24,454 suspected cases of elder financial abuse to the Treasury Department last year, more than double the amount five years earlier, according to data. Because of an aging population, the issue is likely to grow more pronounced.
Food makers invent brands for only Amazon to sell. The online retailer is asking consumer-goods companies to create brands exclusively for it after finding that it too costly and time-consuming to develop them on its own, according to people familiar with the strategy. 
Weed versus greed on Wall Street. Canada’s decision to make marijuana fully legal last year has sparked a frenzy of venture-capital investment and deals—but the situation in the U.S. is murkier. 
A Davos debate: What is finance for? The head of one of the world’s largest long-term investors has a warning for shareholders and the financial elite meeting in Davos: Start acting like owners of the companies in which you invest, or prepare for a populist backlash against modern capitalism.
Los Angeles, other cities are stashing cash for the next recession. The nation’s second-largest city has set aside close to $500 million to help weather emergencies and financial shocks. Other cities are doing the same as the risk of recession in the coming year increases.
Aggression in boys is a family matter. A new study suggests that children who are most likely to be aggressive throughout childhood and adolescence can be identified in infancy, if not before, by looking at their family histories.

Chart of the Day

Black women voters are a top target in the 2020 Democratic race. Sen. Kamala Harris’s first swing through early-voting South Carolina will highlight a constituency that will be essential to her and other contenders for the Democratic presidential nomination.

This Day in History

Jan. 25, 2011
Egyptian Protestors Clash With Mubarak Regime
Tens of thousands of demonstrators took to the streets to protest Egyptian President Hosni Mubarak, setting off what would come to be known as the January 25 Revolution. The number of protestors swelled in the coming weeks as people flocked to Tahrir Square in Cairo. More than 800 people were killed in the weeks of protest and more than 6,000 injured. On Feb. 11, the vice president announced that Mubarak would step down, turning power over to a body of military leaders.
—Compiled and edited by Phil Nobile in New York and Todd Olmstead in London

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