Earnings at China’s industrial firms shrank for a second straight month in December, putting pressure on policymakers to support industries hurt by slowing prices and weak factory activity amid a protracted U.S.-Sino trade war.

Other News: UK PM May’s efforts to end a Brexit stalemate by persuading the EU to alter the backstop deal failed after the Irish government said it was opposed to attempts to drop or set a time limit on the arrangement.

Another tech bubble may be about to burst, because the market “is in the late stages of a credit cycle, with too much money chasing too little value,” says Rana Foroohar (FT).