Luke Vargas

levies on Brazil and other countries.

Meanwhile, House Republicans were able to advance a key GOP priority yesterday, passing legislation that would significantly tighten federal voter registration requirements.

The Save America Act requires that voters show proof of citizenship and would establish a nationwide voter identification requirement for casting ballots.

While Republicans have framed the bill as common-sense legislation, Democrats warn it could impose barriers for eligible voters.

Here's Journal reporter Anvi Bhutani.

There are fresh signs that international pressure on Russia's oil industry is having an effect, as dozens of tankers filled with Russian oil float at sea without buyers.

Joining me with more is Journal Finance Editor Alex Frangos.

Alex, what's going on here, both with these ships kind of loitering around at sea, but also this real pricing squeeze, Russian oil being discounted heavily on global markets?

I mean, everyone wants lower prices, Alex, but they're already quite cheap.

And I want you to zoom in on that for us.

This really kind of amazing gap that's opening up between what Russian crude oil is fetching on world markets and where international Brent crude prices are.

I guess I'm just curious why this discount isn't making it more tempting than for countries to go in and buy this oil and get a great deal on it.

Elon Musk has announced a reorganization of his AI startup, XAI, just days after it merged with his rocket and satellite company, SpaceX.

The changes include parting ways with two of XAI's co-founders and comes amid what tech reporter Georgia Wells says is a rapid expansion at the company.

Musk added that he plans to take SpaceX public by July.

And let's quickly spin through some earnings updates we're getting this morning.

Zero alcohol beers are helping to drive sales for Budweiser maker AB InBev.

The world's largest brewer is contending with a broad decline in drinking, especially amongst younger people, but recorded 34% growth in its teetotal portfolio last year, led by Corona Zero.

Hermès is signaling confidence about its 2026 sales growth after logging a strong Christmas shopping season, and Japan's SoftBank has posted a quarterly profit thanks to gains in its Visions Funds business.

Its shares are up more than 9% so far this year, driven by hopes that stronger AI demand will boost its investments in companies like Arm Holdings and OpenAI.