Thursday Morning Briefing: China and U.S. sign initial trade pact but doubts and tariffs linger

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China will boost purchases of U.S. goods and services by $200 billion over two years in exchange for the rolling back of some tariffs under an initial trade deal signed by the world’s two largest economies, defusing an 18-month row that has hit global growth. While acknowledging the need for further negotiations with China to solve a host of other problems, President Donald Trump hailed the agreement as a win for the U.S. economy and his administration’s trade policies.

After weeks of rhetorical fire and fury a handful of U.S. House members walked quietly across a hushed Capitol on Wednesday to deliver articles of impeachment to the Senate, paving the way for the trial of President Donald Trump. Led by the House of Representatives’ sergeant at arms and the House clerk carrying the documents on a tray, seven House managers walked through a nearly empty Statuary Hall and the soaring Capitol rotunda.

The mystery of what presidential rivals Elizabeth Warren and Bernie Sanders said to each other in a heated exchange after Tuesday night’s Democratic debate has been solved, with debate host CNN revealing that Warren accused Sanders of calling her a liar on national television. In an exchange caught on camera after the debate but unable to be heard by the television audience, Sanders responded to Warren that it was she who had called him a liar.

With tweets of solidarity in Farsi and technological tools to circumvent internet shutdowns, President Donald Trump might be close to exhausting his options to support Iranian protesters rising up against their rulers. U.S. officials say the administration needs to avoid any overtures that could draw accusations of foreign meddling - like direct financing - and increase the chances of a violent crackdown on the people it wants to support.

World

Russian President Vladimir Putin proposed constitutional changes on Wednesday that would give him scope to extend his grip on power after leaving the presidency, and picked a new prime minister after Dmitry Medvedev and his cabinet stepped down. Most importantly, Putin suggested diminishing the powers of the presidency and beefing up those of the prime minister.

Japanese attorneys representing Carlos Ghosn including lead lawyer Junichiro Hironaka, quit on Thursday following the former Nissan chief’s flight to Lebanon from Japan, where he had been fighting financial misconduct charges. Ghosn, who fled Tokyo last month, told Reuters in an interview in Beirut with his wife Carole that he was happy to stay in Lebanon for the rest of his life and claimed he was treated with “brutality” during his detention and bail in Japan.

A Philippine volcano that has been spewing ash for days appeared to be calming down on Thursday, but seismologists said the danger of an eruption remained high and authorities warned evacuees not to return to their homes. Some residents took advantage of what they perceived as a lull in the activity of Taal, one of the country’s most active volcanoes, to return home even though a nine-mile exclusion zone remained in place.

Britain’s Prince Harry will make his first public appearance on Thursday since Queen Elizabeth acceded to the wishes of her grandson and his American wife Meghan to step back from their senior royal roles and seek a more independent future. The prince, sixth-in-line to the throne, will host the draws for next year’s Rugby League World Cup at Buckingham Palace in what is his last scheduled engagement before he and Meghan begin a “period of transition” to their new roles.

Business

New Tesla registrations in California nearly halve

Tesla's overall vehicle registrations nearly halved in California during the fourth quarter, according to a Dominion Cross-Sell report, which collates data from state motor vehicle records. The massive drop comes as tax credit for Tesla buyers ended in 2019.

2 min read

Central bank largesse risks disappointing markets this year

Combined stimulus from the world’s biggest central banks is likely to top $1.2 trillion this year, the highest amount since 2017, but it may well disappoint stock markets, which have surfed to successive record highs on the back of this tide of super-easy money.

6 min read

Comcast, late to the streaming party, to give details of NBC's Peacock service

Comcast on Thursday will reveal details of Peacock, its belated entry into the streaming wars, as it harnesses its NBCUniversal library and invests in new content in an effort to capture viewers abandoning cable TV. At a presentation to investors, Comcast is expected to provide pricing details for Peacock, which will carry ads and launch in April with 15,000 hours of content.

3 min read

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