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Martin Meissner / AP

General Motors is considering a sale of its European Opel unit to the French automaker Peugeot, the firm said yesterday. It's a move that could knock the carmaker out of its position as top-five auto manufacturer by volume, behind the likes of NIssan. But CEO Mary Barra is willing to take that risk, given that it's been a money losing operation for years. It's an example of Barra bucking the conventional wisdom that carmakers need massive scale to survive — she wants profit margins over volume.

Janet Yellen, round two: The Federal Reserve Chair will give testimony and face questions from the House Financial Services committee this morning, after spending time with the Senate Banking Committee yesterday. There's always more fireworks in the House than the more cordial Senate — look for tough questioning, on the topic of bank regulation specifically

Goldman hits new highs: Goldman Sachs stock touched a new record high Tuesday, its first in ten years. It's been a good year for Goldman Sachs, whose alumni are staffing the Trump Administration at an impressive rate. Investors bought up the bank's stock yesterday on improved economic metrics and the hope that coming financial regulatory reform will boost profits.

Go deeper

23 mins ago - Politics & Policy

Biden: "We will manage the hell out of" vaccine distribution

Joe Biden. Photo: Chip Somodevilla / Getty Images

President-elect Joe Biden promised to invoke the Defense Production Act to increase vaccine manufacturing, as he outlined a five-point plan to administer 100 million COVID-19 vaccinations in the first months of his presidency.

Why it matters: With the Center for Disease Control and Prevention warning of a more contagious variant of the coronavirus, Biden is trying to establish how he’ll approach the pandemic differently than President Trump.

A new Washington

Photo: Stefani Reynolds/Getty Image

D.C. Mayor Muriel Bowser said Friday that the city should expect a "new normal" for security — even after President-elect Biden's inauguration.

The state of play: Inaugurations are usually a point of celebration in D.C., but over 20,000 troops are now patrolling Washington streets in an unprecedented preparation for Biden's swearing-in on Jan. 20.

Mike Pence calls Kamala Harris to offer congratulations and help

Mike Pence. Photo: Chip Somodevilla via Getty

Vice President Mike Pence called Vice President-elect Kamala Harris on Thursday to congratulate her and offer assistance in the transition, the New York Times first reported.

Why it matters: The belated conversation came six days before the inauguration after a contentious post-election stretch. President Trump has neither spoken with President-elect Joe Biden, nor explicitly conceded the 2020 election.