The daily business briefing: December 13, 2018

1. Theresa May wins confidence vote despite Brexit plan opposition

British Prime Minister Theresa May on Wednesday won a no-confidence vote called over the turmoil surrounding her deal on Britain's departure from the European Union. The victory by a 200-117 vote meant that May will keep her job for another year. She still lacks the support to pass her plan, and will continue pressing European leaders for concessions they say they won't give. May postponed a vote on her Brexit plan this week, facing rejection by lawmakers who say she is giving away too much to the European Union ahead of the U.K.'s March exit from the trading bloc. To rally support and survive the leadership vote, May agreed not seek to remain leader of the ruling Conservative Party in the next general election.

The Associated Press The New York Times

2. China arrests second Canadian citizen

China has detained a second Canadian citizen on national security grounds, fueling fears of retaliation over Canada's arrest of Huawei Chief Financial Officer Meng Wanzhou. Michael Spavor, one of the only Westerners ever to meet with North Korean leader Kim Jong Un, is being held on suspicion of jeopardizing China's national security, a Chinese government news site has confirmed. Spavor is director of the Paektu Cultural Exchange, which manages cultural and business exchanges with North Korea. Spavor reportedly went missing earlier this week after telling Canadian authorities he was being questioned by Chinese officials. Canada arrested Meng Wanzhou at America's request on suspicion of conspiring to violate U.S. sanctions against Iran.

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NPR

3. Stocks head to calm open on signs of easing trade tensions

U.S. stock-index futures edged higher early Thursday, pointing to a calm start to the day's trading on rising hopes of easing trade tensions between the U.S. and China. Futures for the Dow Jones Industrial Average were up by 0.07 percent, while those of the S&P 500 and the Nasdaq were up by 0.2 percent and 0.4 percent, respectively. Both China and the U.S. have signaled that they have been making progress toward dialing back their tit-for-tat tariff war this week. On Wednesday, Chinese state-owned companies reportedly made their first major purchase of U.S. soybeans in more than six months.

CNBC Fox Business

4. House approves compromise farm bill without food stamp work requirements

The House on Wednesday overwhelmingly passed the compromise farm bill 369-47, sending the sweeping agriculture and nutrition measure to President Trump for his signature. House Agriculture Committee Chairman Mike Conaway (R-Texas) said he had "all the confidence in the world" that Trump would sign the bill into law. The vote ended eight months of wrangling over the bill. House and Senate negotiators had been deadlocked over food stamps as recently as November, with House Republicans demanding stricter work requirements that would have bumped 1.5 million people from the food stamp program. All controversial GOP proposals on the food stamp program were removed from the compromise bill.

Politico

5. Apple unveils plan for expansion, including $1 billion campus in Texas

Apple announced Thursday that it planned to invest $1 billion to build a new campus in Austin, and spend another $10 billion on new data centers. The expansion in Texas, along with new sites in Seattle, San Diego, and Culver City, and bigger facilities in Pittsburgh, New York, and Boulder, are part of a five-year investment project aiming to create 20,000 jobs in the U.S. The North Austin facility alone will employ 5,000, with capacity to expand to 15,000 workers in engineering, R&D, operations, finance, sales, and customer support. Apple also said in a press release that there would be "potential for additional expansion elsewhere in the U.S. over time."

CNBC Fox Business