A year ago or so, Congress handed America's biggest banks a present worth $21 billion. What did the banks do with that cash? They had pledged to help small businesses and reward employees. But instead, they lent out less and cut thousands of jobs. —David E. Rovella

Here are today's top stories

The last five years were collectively the world’s warmest on record.

President Donald Trump's belated State of the Union address was a hit for Speaker of the House Nancy Pelosi.  

Trump demanded $20 million upfront to lend his name to a development in Moscow, a Ukrainian-Russian developer said. 

It's beginning to look like Vladimir Putin bet on the wrong horse when it comes to the battle for control of Venezuela.

In the U.K., the prospect of a calamitous exit from the European Union is becoming increasingly likely.

U.S. employees at this insurer will soon have a choice: The company will put money toward their student loans if they give up vacation days.

What's Joe Weisenthal thinking about? The Bloomberg news director said that with interest rates so low, there's always someone worrying about what the Fed could do if the economy went south. One idea gaining credence is for the central bank to employ negative rates. 

What you'll need to know tomorrow

• Congress will probe any foreign financial leverage over Trump.
• Things are going from bad to worse for Virginia Democrats. 
• Things are going from worse to terrible for British Nissan workers.
• How might America tax the rich in 2020? Let us count the ways.
• Oracle didn't foresee the blowback for personal data tracking.
• Senator Bernie Sanders is getting under Lloyd Blankfein's skin.
• Chipotle is making a comeback. Can you say delivery?

What you'll want to read in Businessweek

Foxconn, Wisconsin and a $4.5 Billion Giveaway 

“This is the Eighth Wonder of the World.” So declared Trump last June at Foxconn’s new factory in Wisconsin. In exchange for more than $4.5 billion in government incentives, Foxconn agreed to build a high-tech hub and create 13,000 good-paying jobs. A lot of that, Bloomberg Businessweek reports, may never happen.

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