Kodak to Issue Its Own Virtual Currency: DealBook Briefing

Kodak’s shares are usually a latest to get a digital banking boost. The bonds of a series of companies have surged in new months after those firms rebranded themselves as carrying something to do digital currencies or blockchain.

— Stephen Grocer


Gian Ehrenzeller/European Pressphoto Agency

Donald Trump is going to Davos.

Here’s what White House Press Secretary Sarah Huckabee Sanders told Maggie Haberman and Michael Shear of a NYT:

“At this year’s World Economic Forum, a boss looks brazen to compelling his policies to strengthen American businesses, American industries, and American workers.”

He’ll be a initial U.S. boss to do so given Bill Clinton in 2000. The BBC formerly noted that Ronald Reagan spoke to a throng during a World Economic Forum around videoconference, yet that conjunction of a Bushes nor Barack Obama attended. (Joe Biden did, however.)

Why? As a NYT adds, presidents have been endangered that being seen rubbing shoulders with some of a world’s wealthiest competence send a wrong domestic message. (Other heads of state, like Xi Jinping of China, have attended.)

One additional note: Having attended a forum a few times, I’d contend that one thing that a revisit from Mr. Trump would really do is make a trade in Davos during a eventuality — that mostly moves during a freezing gait as V.I.P.’s vehicular escorts yield by a breezy streets — substantially some-more difficult.

— Michael J. de la Merced


Nick Cote for The New York Times

Putting Jeff Bezos’s resources into perspective.

Shot: “Jeff Bezos is now the richest chairman of all time,” CNN reported. (The Bloomberg essay that a news object cited makes no such claim.)


— Michael J. de la Merced


Jason Lee/Reuters

The tech tab is gaining steam.

Let’s count a ways:

• Apple is being pulpy to strengthen immature users from smartphone obsession by an surprising coalition: a sidestep account Jana Partners and a California open grant account Calstrs.

• Alphabet, Facebook and Twitter are underneath inspection over Russia’s use of amicable media to manipulate elections.


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• Amazon is confronting inspection for a outcome on jobs.

• Europe is examining many U.S. tech companies on foe and remoteness grounds.

As Barry Rosenstein, a handling partner of Jana, told David Gelles of a NYT:

“As some-more and some-more founders of a biggest tech companies are acknowledging today, a days of usually throwing record out there and soaking your hands of a intensity impact are over.”

The flourishing fear about tech addiction: Two former Facebook executives, Sean Parker and Chamath Palihapitiya, spoke final year about how a association hooks into users’ psyches. And Senator Mark Warner, Democrat of Virginia, held a briefing on a issue. (Axios has more.)

One place we don’t nonetheless see a problem: These companies’ stocks. Apple’s shares dipped usually somewhat yesterday, and a marketplace capitalization is still usually bashful of $900 billion. Shares in Facebook, Alphabet and Twitter gained slightly.

Critics’ corner

• Shira Ovide writes, “When financial mercenaries start caring about a intensity tellurian mistreat of technology, Silicon Valley should be intensely nervous.” (Gadfly)

• Jennifer Saba writes of Jana’s campaign, “It’s an surprising emanate for an activist, and apps from Facebook and Snap would make improved targets.” (Breakingviews)


Oprah Winfrey during an Iowa convene for Barack Obama in 2007.

Ramin Rahimian/Reuters

‘Oprah 2020’ has been good for Weight Watchers.

Shares in a weight-loss company, of that Ms. Winfrey owns 10 percent, jumped as many as 13 percent yesterday amid conjecture that she competence run for president.

Not everybody was as euphoric about a possibility. Here’s what Rebecca Katz, a Democratic strategist, told a NYT:

“Beating Trump isn’t usually about anticipating a right claimant — we have to uncover what we mount for,” Ms. Katz said. “Other than ‘we all get a car,’ what will an Oprah presidency demeanour like?” she added, referring to when Ms. Winfrey famously gave a automobile to each assembly member during her show.


Doug Mills/The New York Times

Will a taxation law make U.S. companies stay, or go overseas?

It comes down to how they respond to a sustenance that taxes a income of abroad subsidiaries during half a domestic rate — even as Mr. Trump has betrothed to pierce jobs behind to struggling cities.

Companies have a new reason to pierce plants abroad, Natalie Kitroeff of a NYT reports:

“Having such a low rate on unfamiliar income is outrageous,” pronounced Stephen E. Shay, a comparison techer during Harvard Law School and a Treasury Department executive during a Reagan and Obama administrations. “It creates terrible incentives.”

The caveat: Some companies competence wish to stay, for America’s authorised complement and learned workers. But large manufacturers like automobile companies competence be tempted to pierce anyway.


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More in taxes

• Mr. Trump distinguished a flitting of a taxation renovate in Nashville, where he farfetched a distance of a cuts. (NYT)

• Residents of high-tax states rushed to prepay their bills before deductions are capped, giving those areas a welcome, if brief, income boost. (Bloomberg)

The Washington flyaround

• Robert Mueller is approaching to find an talk with President Trump as partial of his review into Russian division in a 2016 presidential election. (NYT)

• Meet a former WSJ contributor who founded Fusion GPS, a investigate organisation whose work is executive to a Russia investigations. (NYT)

• Good mercantile conditions tend to lift presidents’ capitulation ratings. Not this one’s. (NYT)

• Mr. Trump told farmers in Nashville that he wants to urge Nafta, yet didn’t repeat his threats to withdraw. (WSJ)

• The sidestep account billionaire Tom Steyer pronounced he wouldn’t run for domestic bureau this year, yet would give Democrats $30 million to quarrel front House seats. (WaPo)

• The NYT reviewer found “Fire and Fury,” Michael Wolff’s book on a Trump White House, “fitting, if eventually unsatisfying.” (NYT)

• Some Senate Republicans are sensitively propelling J.D. Vance, a financier and author of a book “Hillbilly Elegy,” to run opposite Senator Sherrod Brown, Democrat of Ohio. (Politico)


Energy Secretary Rick Perry had sought to pledge financial earnings for plants that save during slightest 90 days’ value of fuel.

Zach Gibson/Bloomberg, around Getty Images

A reversal for a White House’s spark plans.

Federal regulators blocked an Energy Department offer to subsidize struggling spark and arch energy plants. That raises questions about what else a Trump administration can do to column adult an attention that — even as wickedness regulations disencumber — is being smashed by marketplace forces.


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More from Brad Plumer of a NYT:

Last year, utilities announced skeleton to close down some-more than 22 gigawatts of spark ability opposite a country, and some-more retirements are approaching this year. Mr. Perry’s offer was a many assertive pierce nonetheless in support of spark and arch energy and would have safeguarded a series of plants in a Midwest and Mid-Atlantic from those rival forces.

The routine flyaround

• A Senate fortitude to retard a F.C.C.’s dissolution of net neutrality manners has adequate support to force a opinion — yet a House is doubtful to follow suit. (Axios)

• The Labor Department regenerated superintendence on overtime regulations from a George W. Bush era. (WaPo)


Jason Henry for The New York Times

Google memo author sues, claiming discrimination.

The plaintiff: James Damore, a operative who gained celebrity when he was dismissed for criticizing Google’s farrago efforts and reporting that fewer women hold engineering jobs given of biological differences.

His lawsuit: It claims that he and others were “ostracized, belittled and punished for their heterodox domestic views, and for a combined impiety of their birth resources of being Caucasians and/or males.” It also includes screenshots from inner association forums.

The context: Google is already responding to a lawsuit from 4 women reporting that it has evenly paid women reduction than organisation for a same work.


An LG Electronics robot.

David Becker/Getty Images

What’s function during CES.

• ATT has corroborated out of a long-awaited understanding to sell Huawei phones in a U.S., according to unnamed sources. (WSJ)

• Intel’s C.E.O., Brian Krzanich, pronounced there had been “no famous exploits” compromising consumers’ information regulating dual recently suggested chip confidence flaws. (Axios)


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Google, Amazon and Samsung are adding their practical assistants to ever some-more devices, including — severely — refrigerators.

• Advocates for women in record contend that CES contingency residence a farrago problem. (Recode)

Questions about CES? Ask Brian Chen, a NYT’s personal tech columnist.

Speaking of gadgets

GoPro unhappy Wall Street yesterday morning when it cut a sales expectations for a fourth quarter, observant it would lay off some-more than 250 employees and stop creation drones. Its owner and C.E.O., Nick Woodman, cut his money income to $1.

The company’s shares climbed behind amid news reports that it had hired JPMorgan Chase to run a sales process. But Mr. Woodman eventually told Bloomberg that while JPMorgan is a company’s categorical bank, GoPro wasn’t actively looking to sell itself.

GoPro’s problem: It’s too dependent on a movement cameras, according to Dan Gallagher of Heard on a Street.


Justin Lane/European Pressphoto Agency

Sign of a marketplace top? Hedging is passé.

Some investors have apparently motionless that safeguarding themselves opposite a decrease in a markets is a rubbish of money, Gunjan Banerji of a WSJ reports:

“I haven’t seen hedging activity this light given a finish of a financial crisis,” pronounced Peter Cecchini, a New York-based arch marketplace strategist during Cantor Fitzgerald. “It started in late 2016 and accelerated in a second half of a year.”

At a same time, analysts have lifted their forecasts for corporate boost as quick as they have in a decade. History suggests that competence augur a slump.

Quote of a Day

“That’s done it a best penny batch and a misfortune banking in a world.”

— Matt O’Brien of a WaPo, essay about since Bitcoin is doing good as a suppositional investment and terribly as a approach to buy and sell things. (For what it’s worth, Jamie Dimon now regrets job Bitcoin a “fraud,” yet he’s still not meddlesome in it.)

Or maybe it’s this, from the S.E.C.’s Fort Worth division:


The Speed Read

• Jack Ma pronounced he would severely cruise inventory Alibaba in Hong Kong, that is scheming to concede dual-class share listings. (Reuters)


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• A website called coinmarketcap.com private information from some South Korean exchanges from a cost quotes on Monday, call drops in some renouned cryptocurrencies. (WSJ)

• Saudi Aramco has invited banks pitching for roles in a listing, including Citi and Goldman Sachs, to go to a dominion to make their case, according to 3 people informed with a matter. (Reuters)

• The private equity organisation Rhône Capital has placed a contracting offer to acquire Nestlé’s U.S. confectionary business, fasten Ferrero and Hershey in a $2.5 billion race. (FT)

• Amazon’s rising share cost brought Jeff Bezos’s net value to $105.1 billion on Monday, over a high Bill Gates reached in 1999. (Bloomberg)

• The telecoms organisation Altice will spin off a U.S. business and restructure a European operations to residence financier concerns about a group’s viability and debt-laden deals. (FT)

• The quantitative sidestep account attention is on a margin of leading $1 trillion in resources underneath supervision after an boost in programmed investment. (FT)

• Investors are souring on meal-kit start-ups. They bring logistical hurdles, high costs for attracting and maintaining business and big-company competition. (WSJ)

• Aston Martin is targeting a gratefulness of as many as $6.8 billion in a intensity initial open offering, according to people informed with a matter. (Bloomberg)


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• An expensive, rarely personal U.S. view satellite is reputed mislaid after it unsuccessful to strech circuit on a SpaceX rocket on Sunday, according to attention and supervision officials. (WSJ)

• Banks are aggressively handing out leveraged loans to rarely gladdened companies, given a fees offer clever income expansion when many of their normal businesses are posting low returns. (Bloomberg)

We’d adore your feedback as we examination with a writing, format and pattern of this briefing. Please email thoughts and suggestions to bizday@nytimes.com.

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