WASHINGTON — House Intelligence Committee Chairman Adam Schiff and Judiciary Committee Chairman Jerry Nadler will be part of a team of seven impeachment managers at President Donald Trump’s upcoming Senate trial, House Speaker Nancy Pelosi announced on Wednesday morning. Trump’s impeachment trial in the Senate is expected to begin Tuesday, according to Senate Majority Leader Mitch McConnell. The job of the impeachment managers in a Senate trial is to lay out the House approved arguments for rem

House Speaker Pelosi: Schiff to be lead impeachment managerHouse speaker Nancy Pelosi holds a news conference announcing the managers who will transmit the articles of impeachment to the Senate.

Check out the companies making headlines before the bell:Bank of America (BAC) – Bank of America reported fourth-quarter earnings of 74 cents per share, 6 cents a share above estimates. Revenue also came in above Wall Street forecasts, boosted by increasing inflows into its exchange-traded funds as well as its cash-management business. Revenue beat estimates, with record consumer and wealth management revenues as well as record assets under management. UnitedHealth (UNH) – The health insurer rep

U.S. producer prices edged up in December as a rise in the cost of goods was offset by weakness in services, the latest indication of tame inflation pressures that could allow the Federal Reserve to keep interest rates unchanged this year. The Labor Department said on Wednesday its producer price index for final demand ticked up 0.1% last month after being unchanged in November. For all of 2019, the PPI rose 1.3%. Excluding the volatile food, energy and trade services components, producer prices

Treasury Secretary Steven Mnuchin believes the U.S. trade war with China will have been worth it even if an incomplete deal is all that is reached. He described the administration’s view of economic policy to explain why he thinks the phase one deal is good enough to have been worth the trade war. We now have USMCA that’s going to pass the Senate this week, we have China phase one, there’s a deal with Japan, a deal with Korea – these are all going to have significantly positive effects on the 20

Goldman Sachs on Wednesday beat analysts’ estimates for revenue, but quarterly profit was marred by a $1.1 billion litigation charge. The New York-based bank posted quarterly revenue of $9.96 billion, a 23% increase and more than $1 billion higher than the $8.51 billion expected by analysts. On Tuesday, J.P. Morgan and Citigroup posted profit that beat analysts’ expectations on surging bond-trading results and strong revenue from credit-card operations. Wells Fargo missed analysts’ profit estima

Hakan Sukur of Turkey controls the ball as Sang Chul Yoo of South Korea closes in during the FIFA World Cup Finals 2002 Third Place Play-Off match played at the Daegu World Cup Stadium, in Daegu, South Korea on June 29, 2002. Hakan Sukur scored soccer’s fastest ever World Cup goal when he netted in less than 11 seconds for Turkey against South Korea in 2002. But rather than enjoying a comfortable retirement as a sporting hero, Sukur now drives an Uber in America, he told German paper Welt am Son

The EU aims to use 1 trillion euros (around $1.11 trillion) for “sustainable investments” across the coming decade. Brussels released details of its “European Green Deal” back in December, describing it as a “roadmap” to make the bloc’s economy sustainable. One of the deal’s key aims is for the EU to be climate neutral by the year 2050. Breaking things down further, it’s envisaged that the EU budget will contribute 503 billion euros to the overall investment plan. The Just Transition Mechanism i

Treasury Secretary Steven Mnuchin told CNBC on Wednesday that a future “phase two” trade deal with Beijing would ease U.S. tariffs on goods purchased from China even if the next agreements are segmented into multiple rounds. But the deal is also expected to lower structural barriers for American companies hoping to do business in China. Such practices, combined with Beijing’s policy of subsidizing domestic business, can build competitive rivals to American companies seemingly overnight. One of t

U.S. rate-setters could set negative interest rates in the future, despite their own current doubts about the risks of this unconventional measure, Goldman Sachs told CNBC Wednesday. When central bankers implement negative interest rates, it means that banks, for instance, are paying to store cash. They believe negative rates have consequences, such as denting banks’ balance sheets, which could have wider impacts on the economy. However, Jan Hatzius, chief economist at Goldman Sachs, told CNBC t

Russia’s government resigned Wednesday to make way for major new constitutional changes, according to the Tass state news agency, citing Prime Minister Dmitry Medvedev. Without giving much detail, the news agency said President Vladimir Putin thanked Medvedev’s government for its work. The move was reportedly made so Putin can carry out sweeping constitutional changes he spoke about at his annual address just hours earlier. The Russian leader proposed a national vote on constitutional changes th

In this arranged photo, a UnitedHealth Group health insurance card is seen in a wallet in this picture illustration October 14, 2019. UnitedHealth reported a better-than-expected quarterly profit on Wednesday, as the largest U.S. health insurer benefited from higher revenue from its Optum unit, which includes its pharmacy benefits management business. The company affirmed its full-year outlook for 2020 adjusted earnings of $16.25 to $16.55 per share. Revenue from Optum, which manages drug benefi

It was a seriously strong start to 2020 in the mortgage business for new home loans and refinances. Total mortgage application volume surged 30.2% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinancing led the surge, thanks to a drop in mortgage rates. The refinance share of mortgage activity increased to 62.9% of total applications from 58.9% the previous week. Purchase mortgage activity hit the highest level since October 2009.

Bernstein lowered its rating on Beyond Meat on Tuesday and said the red-hot stock was now fairly valued after the recent run-up. Shares of Beyond Meat are up 55% since the start of the year. Trading was briefly halted on Tuesday due to volatility as activity in the cult name picks up, frustrating short sellers. This is the second big rally in the young stock, which also jumped last summer following its May IPO before crashing back to earth. “As the risk/reward has become less attractive followin

in the grand ballroom of Trump International Hotel, U.S. Presidential candidate Donald J. Trump (center) speaks, with his daughter Ivanka Trump by his side, talks about the grand opening of their family’s latest property, Trump International Hotel – Old Post Office, in Washington, DC on October 26, 2016. This year, the meeting takes place at a time of heightened geopolitical tensions, trade disputes and further calls for action against climate change. Their dispute could set a precedent for othe

Mexico’s Ministry of Tourism announced in 2001 it was developing a program to highlight the most beautiful and culturally-rich towns in the country. With more to offer than just beach resorts, ports of call and salt-rimmed margaritas, Mexico focused on the small towns and villages that best represent regional traditions, history, festivals and food. The chosen few would be named Mexico’s “Pueblos Magicos,” or magic villages. Today, there are 121 such villages, some of which will ring a bell — li

Burnt trees are seen in Mallacoota on January 15, 2020 , Australia. Economic and political polarization will rise in 2020, according to the World Economic Forum’s latest Global Risks report, but severe threats to the climate account for all of the top five long-term risks. Respondents were asked to assess both the likelihood of a global risk occurring over the course of the next 10 years, and the severity of its impact at a global level if it were to occur. For the first time in the survey’s 10-

Denying climate change is dangerous and unreasonable in the year 2020, according to billionaire Amazon founder Jeff Bezos. “You can go back 10 years or 20 years and there were people who just did not acknowledge that climate change is real,” he said. Amazon’s climate pledge was announced after more than 4,500 employees urged the company to take aggressive action on climate change back in April. He added that he was using his own connections to work with CEOs around the world on climate change po