What you need to know in business news Thursday

Russia News

President Donald Trump faces a rare defeat today in the GOP-controlled Senate when lawmakers decide whether to uphold his national emergency declaration to build his proposed border wall, or knock it down. (USA Today)

Beto O’Rourke, a rising star in the Democratic Party, is running for president of the United States. The announcement today ends months of speculation that began during the 2018 midterm campaign. (CNBC)

New York state prosecutors announced criminal charges against Trump’s former campaign chief, Paul Manafort, only minutes after his sentencing in a federal case. His combined prison time in the Mueller cases totals more than seven years. (CNBC)

Former White House chief economic advisor Gary Cohn lashed out at some of his former colleagues, charging in an interview that the U.S. is losing the trade war as administration officials pursue a strategy that hasn’t worked. (CNBC)

U.K. lawmakers have rejected the idea of leaving the European Union without a Brexit deal in place, setting up another vote for today on whether its official departure date should be extended. (CNBC)

A cancer victim who had used Johnson & Johnson’s (JNJ) talcum powder-based products was awarded $29 million by a California jury. J&J faces more than 13,000 talc-related lawsuits. The company has denied allegations. (Reuters)

Facebook’s (FB) data deals are the subject of a criminal probe by prosecutors, according to The New York Times. The Times said a grand jury subpoenaed records from at least two well-known makers of smartphones and other devices.

* Facebook has been down for hours, Instagram and WhatsApp also affected (CNBC)

Tesla (TSLA) will introduce its Model Y SUV today at an event near Los Angeles. Production is expected to begin in 2020. Elon Musk said it would cost 10 percent more than Tesla’s Model 3 sedan. (CNBC)

Walmart (WMT), the country’s biggest seller of groceries, is facing pressure to push forward in delivery because Amazon (AMZN) is making inroads in grocery sales. Walmart has been mainly relying on a patchwork of independent companies. (WSJ)


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