Mr. McCarthy prevailed in his quest to be speaker of the Republican-controlled House shortly after midnight on Saturday. A small group of Republican holdouts had blocked him on 14 earlier ballots last week, turning a usually perfunctory process into a dayslong drama that previewed the potential for months of turmoil on spending issues in the narrowly divided chamber.
China, a Pioneer in Regulating Algorithms, Turns Its Focus to Deepfakes
HONG KONG-China is implementing new rules to restrict the production of 'deepfakes,' media generated or edited by artificial-intelligence software that can make people appear to say and do things they never did.
Beijing's internet regulator, the Cyberspace Administration of China, will begin enforcing the regulation-on what it calls "deep synthesis" technology, including AI-powered image, audio and text-generation software-starting Tuesday, marking the world's first comprehensive attempt by a major regulatory agency to curb one of the most explosive and controversial areas of AI advancement.
As White-Collar Layoffs Rise, Blue-Collar Resilience Faces Test in 2023
Layoffs at white-collar companies are starting to rise. Now the question hanging over the economy in 2023 is whether that trend spreads to blue-collar industries as interest rates bite.
Average layoffs in finance and insurance from September to November nearly doubled from a year earlier, according to Labor Department data released this past week. Job cuts picked up by more than 20% among real-estate lessors, brokers and agents over the same period, and by about 14% in the tech-heavy information sector.
Jair Bolsonaro Supporters Storm Brazil's Congress, High Court
SÃO PAULO-Thousands of protesters supporting Brazil's former President Jair Bolsonaro stormed the presidential palace, Congress and the Supreme Court in the capital Brasília Sunday, many calling for military intervention to remove Luiz Inácio Lula da Silva, the leftist leader who took office last week.
Protesters dressed in Brazil's national green and yellow colors charged into the country's most important government buildings Sunday afternoon, smashing windows and furniture and ripping up documents before riot police forced them back into the streets by nightfall. Some 300 people were arrested, police said.
Biden Summit With López Obrador, Trudeau to Focus on Migration, Supply Chains
MEXICO CITY-President Biden is expected to focus on immigration, security and supply-chain problems when he meets with his Mexican counterpart on Monday for the North American Leaders' Summit-issues on which the two countries have had some differing views.
He and Mexican President Andrés Manuel López Obrador will be joined by Canadian Prime Minister Justin Trudeau for dinner that night, before all three meet on Tuesday. The countries have been working through trade disputes over implementation of their joint U.S.-Mexico-Canada Agreement.
China Reopens to the World as International Travel Restrictions End
HONG KONG-Tens of thousands of travelers began to fly in and out of mainland China on Sunday as Beijing removed almost all of its border restrictions, bringing an end to pandemic measures that effectively sealed off the world's most populous nation from the rest of the world for three years.
The Chinese tourists heading abroad bring hope for relief to economies that had come to rely on spending by Chinese travelers in the years before the pandemic. The flow of travelers will likely remain restrained for a while as airlines readjust and some governments keep restrictions in place to prevent importing infections from China's largest Covid-19 outbreak yet.
Beijing Signals Two-Year Internet Crackdown May Be Coming to an End
SINGAPORE-A top Chinese official said authorities have wrapped up investigations into the financial businesses of several internet companies, another strong signal that a two-year regulatory crackdown on China's homegrown technology giants may be winding down.
Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, told state media that the government had concluded a campaign to "rectify the financial businesses of 14 platform companies," with only minor problems left to be resolved. Mr. Guo, also the party secretary of the People's Bank of China, added in the interview published Saturday that officials would look to provide more support to tech companies and work toward making supervision of the tech sector more predictable going forward.
California Braces for More Widespread Flooding, Damaging Winds
Another storm in California marked by heavy rains and gusty winds was expected to begin Sunday evening and last through Tuesday morning, bringing the potential of major flooding, mudslides and downed trees that could lead to widespread power outages.
California Gov. Gavin Newsom said Sunday that the most intense weather, with higher gusts and heavy precipitation, is expected Monday evening and into the early hours Tuesday. He and other state officials warned Californians to avoid travel and prepare.
Write to paul.larkins@dowjones.com TODAY IN CANADA
Earnings:
Tilray Brands 2Q
Economic Calendar (ET):
0830 Nov Building Permits
Expected Major Events for Monday
07:00/GER: Nov Industrial Production Index
07:45/FRA: Nov Foreign trade
07:45/FRA: Nov Balance of Payments
09:00/ITA: Nov Unemployment
13:30/CAN: Nov Building permits
15:00/US: Dec Employment Trends Index
20:00/US: Nov Consumer Credit
23:30/JPN: Dec CPI (Tokyo), CPI ex-Food (Tokyo)
23:30/JPN: Nov Household Spending
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Monday
AZZ Inc (AZZ) is expected to report $1.00 for 3Q.
Accolade Inc (ACCD) is expected to report for 3Q.
Acuity Brands (AYI) is expected to report for 1Q.
Commercial Metals Co (CMC) is expected to report $0.50 for 1Q.
E2open Parent Holdings Inc (ETWO) is expected to report for 3Q.
Jefferies Financial Group Inc (JEF) is expected to report $0.59 for 4Q.
PriceSmart (PSMT) is expected to report $0.89 for 1Q.
Pure Cycle Corp (PCYO) is expected to report for 1Q.
TSR (TSRI) is expected to report for 2Q.
Tilray Inc (TLRY) is expected to report $-0.06 for 2Q.
VOXX International (VOXX) is expected to report $0.11 for 3Q.
WD 40 (WDFC) is expected to report $0.98 for 1Q.
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ANALYST RATINGS ACTIONS
Agiliti Cut to Equal-Weight From Overweight by Morgan Stanley
Aligos Therapeutics Raised to Buy From Hold by Jefferies
Aligos Therapeutics Raised to Overweight From Neutral by Piper Sandler
Allogene Therapeutics Raised to Outperform From Neutral by Baird
AnaptysBio Cut to Market Perform From Outperform by Raymond James
Bank of America Cut to Hold From Buy by Deutsche Bank
Bath & Body Works Cut to Equal-Weight From Overweight by Wells Fargo
Baxter International Cut to Equal-Weight From Overweight by Morgan Stanley
Bloom Energy Cut to Equal-Weight From Overweight by Wells Fargo
Cano Health Cut to Neutral From Buy by UBS
Confluent Cut to Sector Perform From Sector Outperform by Scotiabank
Constellation Brands Cut to Market Perform From Outperform by Cowen & Co.
Deciphera Pharmaceuticals Raised to Hold From Sell by JonesTrading
Discover Financial Cut to Equal-Weight From Overweight by Barclays
Doximity Cut to Underweight From Equal-Weight by Morgan Stanley
EastGroup Raised to Outperform From Neutral by Baird
Embecta Cut to Underweight From Equal-Weight by Morgan Stanley
Envestnet Cut to Outperform From Strong Buy by Raymond James
Fate Therapeutics Cut to Hold From Buy by Stifel
Fate Therapeutics Cut to Hold From Buy by Truist Securities
Fate Therapeutics Cut to Market Perform From Outperform by BMO Capital
Fate Therapeutics Cut to Market Perform From Outperform by Cowen & Co.
Fate Therapeutics Cut to Neutral From Outperform by Wedbush
Fate Therapeutics Cut to Neutral From Overweight by Piper Sandler
Fate Therapeutics Cut to Underperform From Buy by B of A Securities
Getty Realty Cut to Neutral From Outperform by Baird
Graphite Bio Cut to Market Perform From Outperform by BMO Capital
Graphite Bio Cut to Market Perform From Outperform by SVB Leerink
Heska Cut to Underweight From Equal-Weight by Morgan Stanley
Hudson Pacific Properties Raised to Outperform From Neutral by Baird
Jacobs Engineering Raised to Outperform From Neutral by Baird
JPMorgan Chase Cut to Hold From Buy by Deutsche Bank
Kite Realty Group Trust Cut to Neutral From Outperform by Baird
Landos Biopharma Cut to Underperform From Hold by Jefferies
LifeStance Health Group Raised to Overweight From Equal-Weight by Morgan Stanley
Lincoln National Cut to Neutral From Overweight by JP Morgan
MGIC Invest Cut to Equal-Weight From Overweight by Barclays
Molson Coors Beverage Raised to Outperform From Market Perform by Cowen & Co.
Nevro Cut to Underweight From Neutral by Piper Sandler
NMI Holdings Cut to Equal-Weight From Overweight by Barclays
NuVasive Cut to Hold From Buy by Needham
Nuvation Bio Cut to Hold From Buy by Jefferies
OneMain Holdings Cut to Equal-Weight From Overweight by Barclays
Oportun Financial Cut to Equal-Weight From Overweight by Barclays
PennyMac Fincl Services Cut to Equal-Weight From Overweight by Barclays
PNC Financial Raised to Buy From Hold by Deutsche Bank
PVH Corp Raised to Overweight From Equal-Weight by Wells Fargo
Radian Group Cut to Equal-Weight From Overweight by Barclays
RealReal Cut to Equal-Weight From Overweight by Wells Fargo
Regency Centers Raised to Outperform From Neutral by Baird
Sight Sciences Raised to Buy From Hold by Stifel
Silvergate Capital Cut to Hold From Buy by Craig-Hallum
Silvergate Capital Cut to Neutral From Overweight by JP Morgan
Silvergate Capital Cut to Underperform From Neutral by B of A Securities
(MORE TO FOLLOW) Dow Jones Newswires
01-09-23 0607ET
