Regarding your editorial “California’s Paradise Lost” (Nov. 13): President Trump has it right when he says the fires are due to mismanagement, mainly because the California government wants to be politically correct and green. Even Pacific Gas and Electric (PG&E) has a television ad showing millions of dead trees that need to be cleared and turned into lumber before they are unusable. California used to have a thriving lumber industry until politics killed it. Instead they want a carbon tax to give them even more money to waste. I wonder...
November 16, 2018 21:26 UTC
Pfizer plans to raise the list prices of 41 of its prescription drugs, or 10 percent of its portfolio, in January, according to a person familiar with the matter. The plans mean Pfizer would resume its practice of raising drug list prices after the company rolled back some increases in July under criticism from President Trump. Most of the...
November 16, 2018 19:57 UTC
Saudi Arabia is moving to cut the world’s oil supply after U.S. government deals allowed hundreds of thousands of barrels a day of Iranian oil to flow onto world markets, driving down prices. The deals put Saudi Arabia at odds with Washington at a time when relations are already strained by the murder of journalist Jamal Khashoggi. The kingdom wants to trim production to boost oil prices to about $80 a barrel in support of its economy, Saudi advisers say. President Trump has warned against a production cut and called for lower...
November 16, 2018 19:28 UTC
Inflated home appraisals are fueling losses at the Federal Housing Administration, which said this week that it expects a $14.4 billion drain from its mortgage insurance fund in coming years. The shortfall stems from the FHA’s portfolio of reverse-mortgage insurance, but the agency’s chief, Brian Montgomery, says he fears inflated appraisals may also be lurking in its much-larger portfolio of traditional mortgage insurance.
November 16, 2018 19:07 UTC
Special Counsel Robert Mueller’s investigators are scrutinizing comments that Trump adviser Roger Stone made about WikiLeaks before the 2016 election. WSJ’s Shelby Holliday breaks down the timeline. WASHINGTON—Lawyers for President Trump are expected to submit written answers early next week to questions posed by special counsel Robert Mueller, according to a person familiar with the matter, pushing back their self-imposed deadline as they finalize their responses. Mr. Trump said Friday that he had finished answering the special counsel’s questions but hadn’t yet provided them to investigators. Speaking to reporters in the Oval Office, Mr. Trump said he had written the answers himself for what he termed “not very difficult”...
November 16, 2018 18:15 UTC
WASHINGTON—Students accused of sexual assault in the nation’s schools and colleges will gain new due-process protections under proposed rules issued by Education Secretary Betsy DeVos on Friday, though victims’ advocates worry the rules will make it harder to report attacks. With the new rules, expected for months, the Education Department is rewriting the procedures that colleges use to adjudicate complaints of sexual assault and harassment, and stepping squarely into an emotional debate on campus. Both the accused and alleged...
November 16, 2018 18:06 UTC
How do you know when you are an absurd success? When people will pay to be near you—even if they can’t see you. That’s the conceit behind the “building pass,” a new gimmick from the Golden State Warriors basketball club, the reigning NBA champions and winners of three of the last four league titles. First reported by ESPN, the $100-per-month pass entitles its bearer to attend Warrior home games at Oracle Arena in Oakland—one of the hottest tickets in sports, perpetually sold out—but assures no right to actually see, you know,...
November 16, 2018 16:52 UTC
BERLIN—The German government said it is considering whether to allow the deportation of some Syrian asylum seekers back to their home country in the latest sign that ruling conservatives are rethinking Chancellor Angela Merkel’s pro-immigration policies. The Interior Ministry, controlled by the chancellor’s conservative bloc, said on Friday it was examining whether Syrian refugees who commit crimes or support terror organizations should be deported back to Syria. Such deportations are currently banned.
November 16, 2018 16:51 UTC
Swedish appliance maker Electrolux AB is preparing for further price increases should raw material costs keep rising. The maker of Zanussi vacuum cleaners and AEG washing machines twice this year has raised list prices for products sold in the U.S. Another price hike takes effect in January, and more could follow. “Electrolux is very sensitive to changes in raw materials prices as it buys a lot of steel and plastics,” said James Moore, a partner at Redburn Europe Ltd. Prices on Electrolux products sold in the U.S. have risen 10% this year, and will be followed by a 4% rise in January, according to Mr. Moore. Prices for products sold in Europe and in Australia will go up 3% to 4% in January, he said.
November 16, 2018 16:30 UTC
BERLIN—Volkswagen AG will invest nearly $150 billion over the next five years, with about one-third earmarked for the development of electric cars, self-driving vehicles and digital services, as the German auto maker responds to growing competition from Silicon Valley. The new budget from Volkswagen—traditionally one of the biggest spenders in the global auto industry—underscores the challenge posed by the technology sector, as electric vehicles are set to go mainstream and self-driving cars are on the verge of hitting the...
November 16, 2018 16:06 UTC
Spotify has resurrected the music industry but Vivendi’s shareholders may be the biggest winners. Revenue at Vivendi’s Universal Music, owner of the world’s largest record collection, grew 13.5% in the third quarter versus the year before, stripping out currency changes. That was better than analysts expected after slower growth in the first half. Streaming revenue, up 38.6%, led the growth. Vivendi shares jumped Friday after the results were posted late Thursday.
November 16, 2018 15:56 UTC
WASHINGTON—A federal judge granted an emergency motion Friday to restore the White House press credential of CNN correspondent Jim Acosta, a victory for the network in a closely watched press-freedom case. The lawsuit, which drew the attention of major media outlets and press-freedom advocates, could establish a new precedent on when the government can ban individual reporters from public buildings. District...
November 16, 2018 15:26 UTC
Shares of PG&E Corp. opened sharply higher Friday on investor hopes that California officials would move to rescue the utility from potential wildfire-related liabilities that threaten to plunge it into bankruptcy. California’s energy regulator late Thursday pledged a review of the company, including exploring a breakup of the state’s largest utility, expanding an existing probe into its safety practices.
November 16, 2018 15:09 UTC
LONDON—These are confusing times to be an American soccer player. The U.S. men’s national team didn’t qualify for the last World Cup—you may have heard—and is still four years away from the next one. The squad is in a state of permanent flux. And more than one year after manager Bruce Arena resigned, the Americans still don’t have a permanent replacement.
November 16, 2018 12:45 UTC
The S&P 500 edged higher Friday, but steep losses from earlier in the week pushed the broad index to its first weekly loss of November. Fears that business growth is slowing and the U.S. economy is headed for a rockier road in 2019 were heightened after several more companies, including chip maker Nvidia and retailer Nordstrom, reported disappointing earnings results.
November 16, 2018 12:27 UTC