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Feb 25, 2019

What's News | Trump's Tariff Tweets; Beer on the Rocks; Oscar Winners

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:
Trump to delay tariff increases on Chinese imports. The president tweeted that he would delay an increase in tariffs on Chinese goods set to take effect later this week, citing “substantial progress.” Mr. Trump didn't specify how long the extension would last or a date for a potential summit. Chinese stock indexes enjoyed their largest daily gains in years today following the news.
Maduro's opposition urges military force. Top opposition leaders in Venezuela called on the international community to consider military force against President Nicolás Maduro, escalating a standoff after a showdown over humanitarian aid ended in violence. Proposals for increased pressure on Mr. Maduro will be made during a meeting today in Colombia.
Pope vows to combat sexual abuse. Despite strongly condemning sex abuse, Pope Francis gave no specific solutions. He closed the unprecedented Vatican summit by promising to protect children and help victims of what he called a plague of clerical sex abuse, but critics say his words fell short.
A beer alliance is on the rocks. Anheuser-Busch InBev, Molson and others have discussed a multimillion-dollar campaign to improve the overall health of the beer market. But the campaign could be dead in the water after MillerCoors, Molson’s U.S. unit, pulled out of a meeting slated for next month following a public spat with Bud Light maker AB InBev.
Resurgence of cyclical stocks drive the Dow to a new high. Industrial, financial and energy stocks, including Boeing , Goldman Sachs and Exxon Mobil, have powered the blue-chip stock index higher for nine consecutive weeks—the longest such winning streak since 1995.
  • Earnings steer the stock market's recovery. Although profits are expected to contract in the first quarter, companies are projected to post higher revenue throughout 2019.

The unpredictable Oscars race reaches the finish line. Olivia Colman, pictured, in "The Favourite" and Rami Malek in "Bohemian Rhapsody" took the top acting prizes at the 91st Academy Awards and race-relations drama “Green Book” won for best picture. Alfonso Cuarón won best director for “Roma,” the critically admired Netflix release.

What's Trending

Behind Vale's deadly dam collapse. For months, signs of danger raised worries among inspectors about the safety of a giant mine-dam perched over a town in Brazil. And yet the safety firm, worried about losing business, certified the structure as safe. Prosecutors are now looking into collusion between Vale and the contract inspector.
Popular apps cease sharing data with Facebook. After a Wall Street Journal investigation showed how sensitive personal information is often sent to Facebook without users knowing, at least four apps that the Journal identified issued updates to cut off transmission of sensitive data to Facebook.
Kraft Heinz was a classic bet for Warren Buffett. Then it soured. An unexpected $15.4 billion write-down at Kraft Heinz demonstrates that even Warren Buffett’s long-successful investment philosophy is vulnerable to sudden shifts in consumer taste.
British split over Brexit forms political fissures. Pro-Brexit activists are mobilizing to ensure the country leaves the EU as scheduled on March 29 amid competing efforts to push a new referendum, forcing a once-in-a-generation shift in British politics.
The Fed is embarking on a rethink of its inflation target. Officials are taking another look at how the central bank approaches its 2% inflation target, as they grapple with the fact that interest rates are likely to remain much lower than in the past.
The FBI's most wanted: more applicants for special agents. A tight labor market has forced the nation’s top law enforcement agency to double down on recruitment efforts; increase its outreach, target women and minorities and relax some eligibility requirements.
Google is the best—and worst—wireless carrier. Google Fi, the search giant’s cellular service, offers simple smartphone plans that can save you money and now even run on iPhones—but it isn’t fast enough to keep up with the big carriers, writes the Journal's David Pierce.

Chart of the Day

As Wall Street backs away, frackers face a harsh reality. The once-powerful partnership between the two is fraying as the industry struggles to attract investors after nearly a decade of losing money.

This Day in History

Feb. 25, 1986
Filipino President Marcos Flees the Philippines
After a two-decade reign marred with corruption, extravagance and brutality, Filipino President Ferdinand Marcos fled the country, leaving it in extreme poverty and with a crushing debt crisis. Marcos began his tenure in 1965 after winning the presidential election, inheriting one of Asia’s most prosperous economies. The 1983 assassination of opposition leader Benigno Aquino Jr. on his return from exile in the U.S., plunged the nation into crisis. Mass protests in 1986—dubbed the People Power Revolution—backed Aquino’s widow, Corazon, forcing Marcos to flee to Hawaii, where he died in 1989. HIs body was transferred back to Manila in 2016 to be buried at the Heroes' Cemetery, causing widespread protests.
—Compiled and edited by Phil Nobile in New York and Bryony Watson in London.

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