HONG KONG-China's passenger car retail sales growth slowed last year to 1.9%, down from more than 4% in 2021, as auto makers faced severe production disruptions and economic challenges under strict Covid curbs.
China's car makers and dealers sold 20.5 million passenger cars in 2022, the China Passenger Car Association said Tuesday.
Space Launches Should Withstand Chinese Challenge, Pentagon Mandate Says
The next generation of rockets built to launch U.S. spy satellites into orbit will have to be capable of fending off interference by China and Russia, according to people briefed on a coming Pentagon competition.
The Defense Department is preparing to issue new requirements for the contractors vying to build the rockets, intended to counter China's growing capabilities in space. That marks a change from previous contract awards, which were driven primarily by reliability and cost concerns.
Brazil's Former President Jair Bolsonaro, in Florida, Accused of Provoking Rioters Back Home
ORLANDO-President Luiz Inácio Lula da Silva laid much of the blame for the rioting that ransacked government buildings on his predecessor: a right-wing populist who has recently been seen thousands of miles away in Florida munching on fried chicken.
"There are several speeches by the former president encouraging this," Mr. da Silva said in a Sunday night television address of his conservative rival, Jair Bolsonaro, the former president. "This is also his responsibility and of those who support him. All of this will be investigated very strongly and quickly."
Biden Administration Plans to Ease Rules for Income-Based Student-Loan Forgiveness
The Biden administration on Tuesday released a detailed plan that will make it easier for student-loan holders to wipe out their debts using income-driven repayment plans.
The proposed rule from the Education Department is a key step in overhauling the $1.6 trillion federal loan program that has left millions with ballooning debts. The administration first announced the change in August when it unveiled its plan to cancel up to $20,000 in student debt for qualifying borrowers. The Supreme Court plans next month to take up a challenge to that broader debt-forgiveness, which is frozen after being blocked by lower courts.
China Bars South Korean Visitors in Response to Covid-19 Rules
HONG KONG-Beijing suspended issuing several types of short-term visas to South Korean citizens in the first of threatened retaliation measures over travel restrictions many countries have imposed on flights from China to curb the spread of Covid-19.
China's diplomatic mission has temporarily stopped issuing short-term visas to South Koreans for business visits, tourism, medical care, transit and other personal matters, the Chinese Embassy said in a notice issued on Tuesday.
House Passes Rules Package as Republicans Regroup After Speaker Fight
WASHINGTON-House Republicans passed a rules package Monday dictating the terms of the next session of Congress, the first test for House Speaker Kevin McCarthy (R., Calif.) in keeping his raucous conference united.
The rules package, a required step before moving on to legislation, is typically passed on the first day of a new Congress. But it was delayed by the GOP fight to elect a new speaker. Mr. McCarthy prevailed early Saturday morning on the 15th ballot over four days, after making a series of concessions to holdouts.
Classified Documents Found at Biden's Vice Presidential Center
WASHINGTON-Classified documents were found late last year at President Biden's think tank in Washington, according to a statement from the president's attorney.
The documents, earlier reported by CBS News, were discovered in November by Mr. Biden's personal lawyers as they packed files at the Penn Biden Center for Diplomacy and Global Engagement in Washington, according to a statement by the president's attorney, Richard Sauber.
Write to paul.larkins@dowjones.com TODAY IN CANADA
Earnings:
None scheduled
Economic Calendar:
None scheduled
Expected Major Events for Tuesday
00:01/UK: Dec BRC-KPMG Retail Sales Monitor
01:01/UK: Dec KPMG and REC UK Report on Jobs
07:45/FRA: Nov Industrial production index
11:00/FRA: Nov OECD CPI
11:00/US: Dec NFIB Index of Small Business Optimism
13:55/US: 01/07 Johnson Redbook Retail Sales Index
15:00/US: Nov Monthly Wholesale Trade
15:00/US: Jan IBD/TIPP Economic Optimism Index
21:30/US: 01/06 API Weekly Statistical Bulletin
23:50/JPN: Dec International Reserves / Foreign Currency
23:50/JPN: Dec Provisional Trade Statistics for 1st 20 days of Month
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Tuesday
Albertsons Companies Inc (ACI) is expected to report $0.57 for 3Q.
Bed Bath & Beyond Inc (BBBY) is expected to report $-1.82 for 3Q.
California First Leasing Corp (CFNB) is expected to report for 1Q.
Cenntro Electric Group Ltd (CENN) is expected to report for 3Q.
FTI Consulting (FCN) is expected to report $1.32 for 4Q.
Polestar Automotive Holding UK PLC - ADR (PSNY) is expected to report for 4Q.
Qualstar Corp (QBAK) is expected to report for 3Q.
Riley Exploration Permian Inc (REPX) is expected to report for 4Q.
Saratoga Investment Corp (SAR) is expected to report $0.60 for 3Q.
TD SYNNEX Corp (SNX) is expected to report $2.21 for 4Q.
Unico American (UNAM) is expected to report for 3Q.
Powered by Onclusive and Dow Jones.
ANALYST RATINGS ACTIONS
Albireo Pharma Cut to Neutral From Outperform by Wedbush
Alliant Energy Cut to Neutral From Buy by Mizuho
Ally Financial Inc Raised to Neutral From Underweight by Piper Sandler
Aptiv Cut to Neutral From Buy by B of A Securities
BlackLine Cut to Neutral From Overweight by Piper Sandler
BorgWarner Cut to Neutral From Buy by B of A Securities
Cognizant Tech Solutions Cut to Underperform From Neutral by B of A Securities
Comstock Resources Cut to Sector Weight From Overweight by Keybanc
Consolidated Edison Cut to Neutral From Buy by Mizuho
Correction to Thor Industries Ratings
DCP Midstream Cut to Market Perform From Strong Buy by Raymond James
DoorDash Cut to Underweight From Neutral by Piper Sandler
Douglas Emmett Cut to Neutral From Outperform by Credit Suisse
DR Horton Cut to Market Perform From Outperform by Raymond James
Duck Creek Technologies Cut to Hold From Buy by Needham
Enterprise Pdts Partners Raised to Outperform From Peer Perform by Wolfe Research
Equity Residential Cut to Neutral From Outperform by Credit Suisse
Extra Space Storage Raised to Outperform From Market Perform by Raymond James
Fidelity National Cut to Sector Weight From Overweight by Keybanc
Fiserv Cut to Underweight From Equal-Weight by Wells Fargo
Golden Entertainment Cut to Hold From Buy by Jefferies
GXO Logistics Raised to Overweight From Equal-Weight by Morgan Stanley
Harmonic Raised to Buy From Hold by Jefferies
Harmony Biosciences Falls, Novavax Rises as CEO Jacobs Jumps
Hartford Financial Cut to Neutral From Buy by Goldman Sachs
Helmerich & Payne Raised to Buy From Neutral by B of A Securities
Hilton Cut to Hold From Buy by Jefferies
i3 Verticals Raised to Overweight From Sector Weight by Keybanc
Invitation Homes Cut to Neutral From Outperform by Credit Suisse
JB Hunt Cut to Neutral From Positive by Susquehanna
KAR Auction Cut to Underperform From Buy by B of A Securities
Kimco Realty Cut to Neutral From Outperform by Credit Suisse
Landstar Raised to Equal-Weight From Underweight by Morgan Stanley
Lincoln National Cut to Underweight From Equal-Weight by Barclays
Marathon Digital Cut to Hold From Buy by Jefferies
Marriott Cut to Hold From Buy by Jefferies
Marsh & McLennan Cut to Hold From Buy by Jefferies
Mastercard Raised to Overweight From Sector Weight by Keybanc
MetLife Cut to Neutral From Buy by Goldman Sachs
Mid-America Apartment Cut to Neutral From Outperform by Credit Suisse
MPLX Raised to Outperform From Peer Perform by Wolfe Research
Natl Retail Properties Cut to Outperform From Strong Buy by Raymond James
Netstreit Cut to Outperform From Strong Buy by Raymond James
New Relic Cut to Hold From Buy by Truist Securities
O-I Glass Raised to Overweight From Equal-Weight by Wells Fargo
Omega Healthcare Cut to Underperform From Neutral by Credit Suisse
Oracle Raised to Overweight From Neutral by Piper Sandler
Paymentus Holdings Cut to Sell From Neutral by Goldman Sachs
Paymentus Holdings Cut to Underweight From Equal-Weight by Wells Fargo
PayPal Holdings Cut to Sector Weight From Overweight by Keybanc
Penn National Gaming Cut to Hold From Buy by Jefferies
Phillips Edison Raised to Outperform From Neutral by Credit Suisse
Pioneer Natural Cut to Sector Weight From Overweight by Keybanc
PNM Resources Cut to Neutral From Buy by Mizuho
Prudential Financial Cut to Sell From Neutral by Goldman Sachs
Public Storage Cut to Market Perform From Outperform by Raymond James
Realty Income Cut to Market Perform From Outperform by Raymond James
Saia Cut to Neutral From Positive by Susquehanna
Saia Raised to Equal-Weight From Underweight by Morgan Stanley
Schneider National Cut to Neutral From Positive by Susquehanna
ServiceNow Cut to Hold From Buy by Truist Securities
Shift4 Payments Raised to Buy From Neutral by Goldman Sachs
Silvergate Capital Cut to Neutral From Outperform by Wedbush
South Jersey Industries Cut to Neutral From Buy by Janney Montgomery Scott
Spirit Realty Capital Cut to Market Perform From Outperform by Raymond James
Stryker Corporation Raised to Outperform From Sector Perform by RBC Capital
Stryker Raised to Outperform From Sector Perform by RBC Capital
TaskUs Cut to Underweight From Equal-Weight by Wells Fargo
Thor Industries Raised to Neutral From Underperform by DA Davidson
Toll Brothers Raised to Outperform From Market Perform by Raymond James
(MORE TO FOLLOW) Dow Jones Newswires
01-10-23 0605ET
