P2JW014000-5-A00100-17FFFF5178F ***** THURSDAY,JANUARY14, 2021 ~VOL. CCLXXVII NO.11 WSJ.com HHHH $4.00 DJIA 31060.47 g 8.22 0.03% NASDAQ 13128.95 À 0.4% STOXX 600 409.07 À 0.1% 10-YR. TREAS. (Reopening), yield 1.089% OIL $52.91 g $0.30 GOLD $1,853.60 À $10.70 EURO $1.2160 YEN 103.87 What’s Trump Impeached Again News Presidentisaccused Business&Finance of inciting insurrection; S 10 Republicans join ntel ousted CEO Swan PRES Iafteraperiod of tech- UMA Democratsinvote /Z nologymissteps,market- NP sharelosses and pressure /C WASHINGTON—TheHouse from hedgefund Third TV votedtoimpeach President Point. Thechip giant said Trumpfor an unprecedented HOUSE he would be succeeded by second time on Wednesday, al- VMwarechief Gelsinger. A1 leging that he encouraged a HOUSE; mob to storm Congress as part TheU.S.isexpected to let WHITE of alast-gasp effort to over- Americans continue to invest turn Democrat JoeBiden’s in Alibaba, Tencent and Baidu THE election win. afterweighing the firms’ al- GES; leged ties to China’smilitary IMA against the potential economic By Natalie Andrews, Kristina Peterson impact of banning them. B1 GETTY and Rebecca Ballhaus Canada’sCouche-Tard,a SE/ big operator of convenience Thevotewas 232 to 197, stores, said it made a$19.66 ANCE-PRES with all Democratsjoined by billion offer forFrench hy- FR 10 Republicans voting in favor, permarket chain Carrefour. B1 in aHouse chamber secured GENCE by National Guard troops sta- Citigroup is restructuring /A EB tioned throughout the Capitol itsbusinesses that manage LO and its grounds. money forthe wealthy, as in- UL SA Democrats’ push to im- coming CEO Fraser moves to : peach the Republican presi- put her stamp on the bank. B1 LEFT dent just beforeheisset to OM BlackRock’s Novick will FR leaveofficereflectsmanylaw- transition from her role as makers’ deep anger at Mr. vice chairman to become a WISE Trump’smonthslong campaign senior adviser,taking asec- OCK to challengethe resultsofthe CL ond stab at retirement. B10 Clockwise from left: House Speaker Nancy Pelosi presides over the debate; President Trump in a video released after the election, making false claims vote; and House Minority Leader Kevin McCarthy, who criticized Mr. Trump for the riot but opposed impeachment. about election fraud and try- TheS&P 500 and Nas- ing to twist the arms of state daq posted gains of 0.2% officials as well as Vice Presi- and 0.4%, respectively, dent MikePencetostayiN while the Dowfell 8.22 House’s Rebuke of President power, culminating in his sup- points, or lessthan 0.1%. B11 porters’ violent actions. Federal regulators “Weknowthat the presi- asked Tesla to recall about dent of theUnited Statesin- 158,000 vehicles over Deepens Republicans’ Divide citedthis insurrection, this safety concerns tied to the armedrebellion, against our failureoftouch screens. B2 country,” House Speaker NancyPelosi (D., Calif.) said. Connecticut is actively BY SIOBHAN HUGHES tryMr. Trump afterthe House’s cision on howIwill vote and I an insurrection at the Capitol, “He must go—he is aclear and investigating how Amazon impeachment vote Wednesday, intend to listen to the legal ar- with Rep.KevinMcCarthyof present danger to the nation sells and distributes digi- WASHINGTON—TheCapitol Majority Leader Mitch McCon- gumentswhen they arepre- California, the House GOP that we all love.” tal books, according to the riot and the impeachment of nell hasshown agreater impa- sented to the Senate,” Mr. leader,joining 196 Republicans In video commentsreleased state’sattorney general. B6 President Trump have divided tiencewith Mr.Trump than his McConnell (R., Ky.) wroteina in voting against impeachment. on the WhiteHouse Twitter Europe’santitrust watch- the GOP from the topdown, House counterpartshave. Mr. messagetohis colleagues. TenRepublicans crossed the PleaseturntopageA4 dog approved the LSE’s with the party’s two congres- McCoNNell, whohad warned Rank-and-file senatorswill aisle to join Democratsinfavor $15 billion deal to acquire sional leaders, stateparty offi- againstthe GOP president’s start picking sides as early as of impeachment. Raw nerves, troops on guard financial-data company cials and longtime donorstak- drivetochallengePresident- next week,when the processof “The president bearsrespon- in Capitol...................................... A4 Refinitiv,with conditions. B3 ing different stances on elect JoeBiden’svictory, de- setting up atrial begins. sibility forWednesday’sattack Facebook feared posts could punishing the president as his clined on Wednesdaytorule HouseRepublicans largely by mobrioters,” Mr.McCarthy spread violence......................... A6 World-Wide term ends. out convicting Mr.Trump. worked to shield Mr.Trump said on the House floor GOP faces rift with corporate In the Senate, which must “I have not made afinal de- from formal chargesofinciting PleaseturntopageA6 donors............................................ A7 TheHouse voted to im- peach Trump for asecond time,alleging he encouraged U.S. Covid Deaths Set Record amob to storm Congressas Intel’s Board Ousts CEO, The U.S. reported 4,327 Covid-19 deaths on Tuesday, the part of alast-gasp effort to nation’s highest daily death toll of the pandemic. A3 overturn Biden’selection win. Thevotewas 232 to 197,with Daily Covid-19 deaths in U.S. Jan.12 all Democratsjoined by 10 Re- 4,327 Capping Turbulent Period 4,000 deaths publicans voting in favor. A1 TheCapitol riot and the impeachment have divided BY ASA FITCH folds afterIntel ceded last year firm that owns astake in Intel the GOP,with the party’s two 3,000 the title as the U.S.’s most valu- through one of itsfunds. congressional leaders, state Intel Corp. ousted its chief able semiconductor companyto Mr.Swanjoined Intel in party officials and donors executiveinasurprise move rival Nvidia Corp.and fell fur- 2016 as chief financial officer. taking different stances on Seven-dayaverage that pivotsthe semiconductor ther behind rivals in churning He wasnamed interim CEO two punishing the president. A1 2,000 giantcloser to itsengineering outthe most advanced chips. yearslater and formally given TwitterCEO Dorsey de- rootsafter aperiod of technol- TheSantaClara, Calif.-based the topjob in January2019. fended the firm’sdecision ogymissteps,market-share companyisalso considering a Daniel Loeb, CEO of hedge to ban Trump’spersonal ac- losses and pressurefroma broader embraceofthird-party fund ThirdPoint LLC, in aDe- count but expressed concern 1,000 hedge fund. chip makersrather than relying cember letter to Intel Chair- about the risks of compa- Intel said on Wednesday on itsown factories. man Omar Ishrak wrotethat nies having toomuch power CEO Bob Swan would be suc- “This is incredibly impor- the company’swoes could un- over public discussion. A6 ceeded by VMwareInc.chief tant strategically to what Intel dermine the U.S. tech industry PatGelsinger effectiveFeb.15. is looking to accomplish and be and urgedthe chip maker to Iran has takeN asignificant 0 step toward possible nuclear- Feb. Jan. Mr.Gelsinger,who wasonce defined moreasatechnology consider alternatives.That in- 2020 2021 PleaseturntopageA2 arms production, starting work Intel’stechnologychief, has innovator and operator,” said on an assembly line to makea Source:Johns Hopkins University served as CEO of the business- David Bahnsen,chief invest- software provider since 2012. ment officer at the Bahnsen Heard on the Street: New key material used in warheads, Theleadership transition un- Group, awealth-management chief has no quick fix......... B12 the U.N. atomic agency said in a confidential report. A1 Israeli warplanes carried out strikes in eastern Syria, Iran Works in one of the country’s China’sEconomy deadliest raids on sites used by Iran-backed militias. A9 To Produce Powers Ahead Ateam of WHO specialists THE THREAT arrived in the city of Wuhan KeyMaterial to learn what progressChina has made in determining ForBomb In year when world reeled, China to report howthe novel coronavirus OF EXTORTION firstspread to humans. A8 growth, plus expanded role in trade BY lAURENCE NORMAN Thefederal budget gap AND MICHAEL R. GORDON China ended the Year of liftedbyits quick recovery IS REAL. widened in the firstthree months of thefiscal year,as Covid in manyways stronger from Covid-19—keeps gain- government spending contin- Iran has takenasignificant than it started, accelerating ing momentum, making it a step toward possible atomic- itsmovement toward the biggerdriver of global com- Don’t Negotiate.Mitigate. ued to outpacerevenues. A2 weapons production, starting center of aglobal economy panies’ earnings. Michigan prosecutors work on an assembly line to long dominated by the U.S. And the countryhas solid- investigating the Flint water manufactureakey material ified itsstanding as a force crisis chargedformer Gov. used at the core of nuclear By Stella Yifan Xie, in global financial markets, Snyder with two countsof warheads,the United Nations Eun-Young Jeong with arecordshareofinitial willful neglect of duty. A3 atomic agencysaid in aconfi- and Mike Cherney public offeringsand second- dential report on Wednesday, arylistingsin2020,large Anew kindofadversary is on the rise, using CONTENTS Opinion.............. A15-17 raising the stakes in Tehran’s While the U.S. and Europe capital inflows intostocks extortion to threaten businesses across Arts in Review... A13 Personal Journal A11-12 Banking &FinanceB10 Sports....................... A14 standoff with WashingtoN wait forvaccine rolloutsto and bonds,and indexesthat the world. Without