House managers expanded their case for the removal of President Donald Trump during the second day of his historic impeachment trial. They told the Senate that his decision to block Congressionally approved military aid for Ukraine (for its defense against Russia) and obstruct a probe of his demand that it interfere with the 2020 campaign were clear violations of the Constitution. “No president has ever used his office to compel a foreign nation to help him cheat in our elections,” Representative Jerrold Nadler told the Senate. Democrats are hoping that, as they build their case, it will be harder for Republicans to ignore public support for witnesses and evidence. —Josh Petri

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Here are today’s top stories

Trump is on trial in the Senate, but the Senate is on trial, too. In Bloomberg Opinion, Noah Feldman picks up James Madison’s argument that the Supreme Court, rather than the legislative body, should try impeachments.

The World Health Organization stopped short of calling the recent coronavirus outbreak a global health emergency. So far, 17 people have died. China has locked down Wuhan, the city of 11 million in which the virus first appeared.

The actor Annabella Sciorra testified before a Manhattan jury that Harvey Weinstein acted increasingly menacing towards her, starting with a series of creepy gifts.

Banks keep raising the limit on people’s credit cards, even if they don’t ask. It’s been turbocharging profits and leaving customers with the potential to rack up even bigger monthly bills at a time when millions of Americans are already drowning in debt.

After years of radical stimulus, bank executives are increasingly calling on central banks to reverse a half decade of negative interest rates.

Tesla’s legal victory allowing it to sell its electric vehicles in Michigan without using dealers could clear a path for other carmakers.

What’s Joe Weisenthal thinking about? The Bloomberg news director says the rally in the S&P 500 has been so intense and unrelenting that Tuesday’s 0.27% decline felt like a selloff, and yesterday’s 0.03% gain felt like a modest decline. Despite two unexpected developments in 2020—Iran tensions and the new respiratory virus—U.S. equities remain within a whisker of their all-time highs. 

What you’ll need to know tomorrow

• NYC’s popular subway chief abruptly quit after two years on the job.
• Amateur investors are making risky bets that could wipe them out.
• A secretive billionaire bought a $262 million London home. 
• Unsold mansions are piling up near Trump’s Mar-a-Lago home.
• This is the rainfall map that can tell you if your home is doomed.
• Greta Thunberg addressed Davos. Then she called a climate strike. 
• The man billionaires trust to find the perfect, rare classic car.

What you’ll want to read in Bloomberg Green

China Wants Activists Out of Its War on Pollution 

China is touting its climate credentials as it seeks to clamp down on environmental damage at home while demonstrating a commitment to the international order derided by Trump. Beijing has signed up to the Paris Agreement, spent big on clean energy, announced curbs on single-use plastics and made real progress in tackling air pollution. Yet what has become a key driver of the climate agenda globally—activism as popularized by Thunberg—is all-but taboo in China.

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