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What’s News |
| Good Morning Here’s what we’re watching as the U.S. business day gets under way: |
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Stocks rally on U.S.-China trade hopes. Shares of everything from industrial manufacturers to technology giants rose as President Trump said he is willing to delay next month’s deadline for resolving the trade conflict with China if negotiations are progressing smoothly. The countries' negotiators are focusing on producing a broad outline of a trade deal for their presidents to clinch at a possible summit. Global stocks were buoyed by optimism over the news this morning. |
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China hedges its bets with the Venezuelan opposition. Chinese diplomats, worried over the future of oil projects and the nearly $20 billion that Caracas owes Beijing, have held debt negotiations with representatives of Juan Guaidó, the opposition leader heading the efforts to oust Nicolás Maduro. Meanwhile, Mr. Guaidó pressed for the delivery of humanitarian aid later this month. |
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Trump is lukewarm on a border-funding deal. The president sent mixed signals on lawmakers' bipartisan border-security deal, but he didn’t rule out ultimately signing the resulting legislation, adding uncertainty to whether another government shutdown would begin this weekend. |
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Suit accuses current, former CBS executives of insider trading. Former Chairman and CEO Leslie Moonves and other executives sold more than 3.4 million shares worth over $200 million before the company’s July disclosure that it would investigate Mr. Moonves over sexual-harassment allegations, according to an amended complaint filed in federal court. |
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New “Nafta” faces a partisan split on enforcement. The White House is preparing for a potential fight to get its new Nafta deal through Congress. The Democrats want the administration to add provisions to last year’s pact with Canada and Mexico that will ensure Mexico enforces environmental protections and allows its workers to form unions freely. |
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The new plan for Sears: smaller stores and less apparel. Edward Lampert, the hedge fund manager who steered Sears into bankruptcy and then kept it alive with a $5.2 billion offer for its assets, says he will sell or sublease some of the 425 remaining stores and plans to devote more of the retail space to tools and appliances. |
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“Predator on the Reservation.” For more than two decades, a government pediatrician raised suspicions that he was a pedophile. WSJ and Frontline investigate how he was transferred from reservation to reservation and allowed to continue to treat children despite accusations he was sexually abusing Native American boys. |
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What El Chapo's trial revealed. Testimonies shed light on how cocaine and marijuana moved across the U.S. border in the walls of freight trains, how in-house tech experts built encrypted communications networks and how the cartel moved money around using suitcases of cash and private planes. The three-month trial ends in conviction. Joaquín Guzmán Loera is now expected to spend the rest of his life in U.S. prison without possibility of parole. Verdict closes a chapter for Mexico. The conviction concludes an important part of the country's own war on drugs, in which the military targeted top cartel leaders for capture and extradition to the U.S. |
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An expensive and divisive way to fight climate change. Saving the planet and creating jobs are noble ideas—but by combining them, the Green New Deal exacts too high a cost, writes the Journal's Greg Ip. |
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Carlos Ghosn replaces his defense lawyers. The former Nissan chairman, who is facing trial in Japan on financial charges, has replaced his legal team and brought in a lawyer—nicknamed “the razor" and noted for high-profile cases—to lead his defense. |
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Publishers chafe at Apple's terms for a new subscription service. The New York Times and the Washington Post are among the major outlets that so far haven’t agreed to license their content to Apple's subscription service for news, described by industry executives as a “Netflix for news." |
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The confusing world of Venmo etiquette. When it comes to repaying friends, mobile apps have multiplied the opportunities for missteps. We asked a millennial for his views. |
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Three things to think about if you fear a slowdown. The Journal's James Mackintosh says stock prices and the economy have diverged, making it harder than usual to judge whether there is a true global slowdown under way. He suggests there are three possibilities that investors need to distinguish between. |
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| Highlights from our technology coverage |
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1. Here are the U.S. cities most likely to be disrupted by robots. Automation might not mean lower employment overall, but it can still take away jobs as it notches gains in productivity, Christopher Mims writes. Tech is pushing some people into the ranks of the precariously employed. 2. The internet has become a battleground. The U.S. and China, the two digital powers with different approaches to technology, are staking out their corners. Some Silicon Valley executives worry the divergence risks giving Chinese companies an advantage, partly because they face fewer restrictions over privacy and data protection. 3. A big leap is coming for Google Maps. Using smartphone cameras, apps can get a more detailed sense of where you are and where you need to go. Google is working to improve its Maps feature with augmented reality, layering information and directions on top of your phone camera’s view of the world. David Pierce gave it a try, and found it is a huge step in the right direction. Want more tech? Get WSJ Tech Weekly delivered to your inbox every Sunday and listen to your favorite tech columnists in our podcast, Instant Message. — Brian R. Fitzgerald |
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Iran: A potential beneficiary of U.S. sanctions on Venezuela. The U.S. administration's ban on the purchase of Venezuelan crude complicates its efforts to bring Iran’s oil exports to zero. To avoid a price spike, Washington will likely be forced to allow some buyers to continue purchasing oil from Tehran, experts say. |
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Dow Passes 7000 for the First Time The Dow Jones Industrial Average closed above 7000 for the first time in just over a century, with the blue-chip index surging 60.81 points, or 0.9%, to 7022.44 on the day. It was the quickest 1,000-point move in the index's history—and its easiest ever, according to traders at the time. The firms with the biggest contributions to the climb from 6000 to 7000 were Philip Morris, Procter & Gamble and Merck. |
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