Photo of the Day.
Shaun White celebrates his gold medal after the men’s halfpipe finals at Phoenix Snow Park at the 2018 Winter Olympics in Pyeongchang, South Korea on Wednesday. (Gregory Bull / Associated Press)
Most Read on the Terminal (Last 8 Hours):
U.S. Consumer Prices Top Forecasts, Sending Markets Tumbling (Bloomberg)
Prime Influencer: Amazon has been expanding lobbying efforts to rapidly become one of the most-influential companies in Washington, according to data compiled by Bloomberg. The e-commerce giant — a target of Trump’s tweet ire — has increased lobbying spending by more than 400 percent in the past five years, far outpacing rivals. Bloomberg also took a look at where Facebook and Google are spending money to influence decision makers. Amazon’s Jeff Bexos Can’t Beat Washington, So He’s Joining It (Bloomberg)
European Banks’ Bad-Loan Problem: For European banks, it’s a headache that just won’t go away: the 944 billion euros ($1.17 trillion) of non-performing loans that’s weighing down their balance sheets. Five Charts That Explain How European Banks Are Dealing With Their Bad-Loan Problem (Bloomberg)
You Can’t Make This Up: President Trump’s personal lawyer told the New York Times that he paid $130,000 out of his own pocket to the former adult movie star known as Stormy Daniels who once claimed to have an affair with the president. The attorney wouldn’t say whether Trump knew about the transaction. Trump’s Longtime Lawyer Says He Paid Stormy Daniels Out of His Own Pocket (New York Times)
RMB Clearing Advances: JPMorgan was designated the first non-Chinese RMB clearing bank yesterday, and the news was welcomed by The Working Group on U.S. RMB Trading and Clearing chair, Mike Bloomberg as “a significant step forward in the internationalization of the RMB.” Jamie Dimon, Chairman and CEO of JPMorgan Chase, said: “We are pleased to build on the efforts of The Working Group on U.S. RMB Trading and Clearing with today’s announcement. We recognize the growing role of RMB across international markets and look forward to providing our clients with direct access to China’s currency and onshore markets for payments, investments and other RMB-related services.” JPMorgan Designated as U.S. Clearing Bank (The Working Group on U.S. RMB Trading and Clearing)
Netanyahu News: Israel’s longest-serving prime minister since its founding father has seemed to have nine lives. He may need a tenth. Netanyahu Clings to Power After Police Recommend Indictment (Bloomberg)
Get Up To Speed…Fast: Why Netanyahu Finds Himself in Legal Jeopardy (Bloomberg QuickTake)
Victory for ‘Womenomics’: In Tokyo, women in the workplace are expected to buy and distribute chocolates to their male colleagues on Valentine’s Day — regardless of romantic attachments. However, giving “giri choco,” or “obligation chocolates,” may not happen as much this year, with Japanese women reporting they’d prefer to avoid the practice. That’s a victory for Shinzo Abe’s “womenomics” push to empower female workers. Women Denying Men Valentine Chocolates May Help Japan’s Economy (Bloomberg)
Mike Bloomberg speaks at the Goldman Sachs 10,000 Small Businesses Summit in Washington on Tuesday, Feb. 13, 2018.
In a speech yesterday in front of more than 2,000 small business owners from across the U.S., Mike Bloomberg said Washington is “considering hurting small business by keeping people out from all around the world who want to start more businesses. As a matter of fact, they are trying to do something even stupider — that’s to have people here working and creating small businesses and forcing them to leave the country. That’s the most insane thing I’ve ever heard.” Bloomberg cited that 40% of Fortune 500 companies were founded or cofounded by an immigrant or the child of an immigrant. “They create more jobs than you count. The truth of the matter is this country was built on immigrants,” he said. Mike Bloomberg Blasts Washington and its ‘Insane’ Immigration Policy (Yahoo Finance)
Congrats to our new National Press Club President: Bloomberg editor Andrea Edney was inaugurated Saturday as president of the National Press Club at the club’s annual gala dinner in Washington, D.C. In her remarks, Edney told members: “We are going to keep fighting to protect press freedom in this country and throughout the world, because at the National Press Club, that’s just what we do.” In a congratulatory statement, Mike Bloomberg said: “Bloomberg is strongly committed to defending the free press and producing journalism of the highest quality, so we’re honored that Andrea has been chosen to serve as president of the National Press Club. She’s the sixth Bloomberg employee — and the second woman — to hold that position, and we know she’ll do as terrific a job as president as she has at Bloomberg.” Bloomberg News Editor Andrea Edney Inaugurated as National Press Club President in Washington (Bloomberg press announcement)
Best of Twitter.
@MikeBloomberg: Every day, small business owners help to build a strong future for this country. Today’s #10KSmallBiz Summit marks our latest effort to support these engines of local innovation. On behalf of the Advisory Council, we wish you all continued success with your businesses.
@MarcPhilly: When @MikeBloomberg says Washington is being stupid and hurting small business with their stance on immigration, crowd erupts. One of the best moments so far. #MakeSmallBig #10KSB #10KSmallBiz
@GS10KSmallBiz: Behind the scenes at the #10KSmallBiz Summit: Our #10KSBgrads met with industry leaders, like @MikeBloomberg, during a roundtable workshop on how to #MakeSmallBig: http://click.gs.com/y8un
@PattiHarris: Local businesses are making a real difference in communities around the country. Great to meet this inspiring class of small business owners at the #10KSmallBiz Summit today.
@HaddadMedia: .@MikeBloomberg @WarrenBuffett thank u for supporting small businesses. #MakeSmallBig
Birthday of the Day.