Government Closing Near as GOP Bill at Brink: Shutdown Update [Bloomberg]
The House voted 230-197 Thursday night to pass a short-term funding measure that would keep federal operations running through Feb. 16 while Democrats, Republicans and the White House negotiate on a budget for defense and domestic programs and legislation to protect some undocumented immigrants from deportation.
The Senate took an initial vote to advance the bill late Thursday, but was headed toward an additional procedural step on Friday requiring 60 votes that Democrats say they will be able to thwart. At least two Republicans have said they would join in opposition to the House-passed bill.
‘Relentless’ growth could see the US topple Russia, Saudi Arabia as world’s largest oil producer, IEA says [CNBC]
U.S. crude production stands at 9.9 million barrels a day, according to the IEA, which is the country's highest level in almost 50 years. That level of supply puts the U.S. neck-and-neck with OPEC kingpin Saudi Arabia — the world's second-largest producer after Russia.
"The stage was set for a strong expansion last year, when non-OPEC supply, led by the U.S., returned to growth of 0.7 million barrels a day and pushed up world production despite OPEC and non-OPEC cuts," the IEA said.
Wall Street traders brace for meager paychecks as bonus season approaches [Reuters]
“Getting zero bonuses was unheard of a couple years ago, but it happens today,” said Alan Johnson, head of compensation consulting firm Johnson Associates.
“I expect that there are people who will get no bonus” this season, he added.
Traders have been feeling the crunch for several years, as trading revenue has been on a near-steady march downward and banks have embarked on aggressive cost-cutting campaigns. It has also become harder for traders to leave banks for attractive opportunities on the buy-side because active managers have been facing their own difficulties with performance and fund-raising.
That was almost immediately apparent as the White House descended into multiple warring factions, with the Goldman alumni often in opposing camps. The flame-throwing impulses of Mr. Bannon, in particular, were often at odds with the more measured, pragmatic styles of Mr. Cohn and Ms. Powell. (Goldman veterans told me the Bannon persona that emerged during the campaign and at the White House bears little resemblance to the clean-cut, hard-working young mergers-and-acquisitions banker they remember.)
Mr. Bannon and Mr. Scaramucci both self-destructed in spectacular, un-Goldman-like fashion. Mr. Bannon was fired from his White House job last summer and fully excommunicated after publication this month of Michael Wolff’s tell-all book, “Fire and Fury: Inside the Trump White House,” which is filled with inflammatory quotes from Mr. Bannon.
HSBC to pay $100 mln to settle U.S. probe into currency rigging [Reuters]
Thursday’s sanctions came a month after HSBC was freed from a five-year deferred prosecution agreement over its alleged dealings with Mexican drug cartels and other money launderers, and conducting of transactions for customers in countries barred by U.S. sanctions. It was fined $1.92 billion in that case.
Man's throat ruptured after holding his nose during forceful sneeze [SkyNews]
He told doctors at hospital in Leicester that he had developed a popping sensation in the back of his throat and this had suddenly swelled up after he tried to hold in a sneeze by shutting his mouth and pinching his nose at the same time.
Doctors then heard the popping and crackling sounds in his neck, which extended all the way down to his ribcage. The sounds indicate that air bubbles had found their way into the deep tissue and muscles of the chest, which was later confirmed by a scan.