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Bruce Smith / AP

Organized labor was dealt a major blow on Wednesday when 74% workers at Boeing's North Charleston, South Carolina plant voted to remain union free. The result is salt in the wound of the labor movement, whose leaders backed Hillary Clinton in November, though its rank and file voted for the Republican nominee at the highest rate since the 1980s. The news comes as a relief to Boeing, which invested billions in South Carolina after a costly machinist union strike at its Washington facilities in 2008.

Verizon gets a discount: Revelations last year of massive hacking breaches at Yahoo in 2013 and 2014 has enabled Verizon to negotiate a $300 billion discount for its acquisition of the search giant. The Wall Street Journal reports that a new agreement could be hammered out by the end of the week, in time for the deal to be finalized in April, though an ongoing SEC investigation into whether Yahoo should have disclosed the new sooner may slow progress.

Wall Street braces for higher interest rates:

Data describing rising inflation and stronger retail sales, combined with Janet Yellen's

bullish commentary

before Congress this week has led to futures markets raising the odds that the Federal Reserve will raise interest rates at its next meeting next month. Wall Street Analysts concurred, with JPMorgan moving up its prediction for the first hike of 2017 to May rather than June, while Goldman Sachs said there was now a 30% chance of a hike next month, up from 20%.

Go deeper

8 mins ago - World

NYT: Biden won't immediately remove U.S. tariffs on China

President-elect Joe Biden during an event in Wilmington, Delaware, on Tuesday. Photo: Alex Wong/Getty Images

President Trump's 25% tariffs imposed on China under the phase one trade deal will remain in place at the start of the new administration, President-elect Biden said in an interview with the New York Times published early Wednesday.

Details: "I'm not going to make any immediate moves, and the same applies to the tariffs," Biden said. He plans to conduct a full review of the current U.S. policy on China and speak with key allies in Asia and Europe to "develop a coherent strategy," he said.

Trump threatens to veto Defense spending bill over social media shield

Photo: Erin Schaff - Pool/Getty Images

President Trump tweeted Tuesday a threat to veto a must-pass end-of-year $740 billion bill defense-spending authorization bill unless Congress repeals a federal law that protects social media sites from legal liability.

Why it matters: Trump's attempt to get Congress to end the tech industry protections under Section 230 of the Communications Decency Act is the latest escalation in his war on tech giants over what he and some other Republicans perceive as bias against conservatives.

The walls close in on Trump

Photo: Tasos Katopodis/Getty Images

With Bill Barr's "Et tu, Brute!" interview with AP, President Trump is watching the walls close in on his claims of fraud, hoaxes and conspiracies.

Why it matters: Trump and his legal team continue to claim election fraud. But the Republican governors of Arizona and Georgia have certified their elections, a loyalist like Barr has weighed in, and lower-ranking officials have taken potshots.