The bottom line
▪ American banks made a record $171_billion in profit last year, up nearly 5_percent from 2015, according to the Federal Deposit Insurance Corp. There were only five bank failures, the lowest number since 2007.
The Washington Post
▪ Nobody has lost more money because of Donald Trump’s rise to the White House than Mexican telecom tycoon Carlos Slim. His personal fortune stood at about $67 billion on June_15, 2015, the day before Trump launched his presidential campaign. His wealth has dropped to about $51_billion today, because Trump’s tough stance on trade has hurt the value of the peso and, by extension, Slim’s Mexican assets.
▪ Nike says it will begin selling a perfor mance hijab for Muslim women athletes during the company’s Spring 2018 season. A proto type of the breathable headscarf is already being worn by Emirati figure skater Zahra Lari.
▪ Stolen trade secrets cost the U.S. economy up to $540_bil lion a year, according the Commission on the Theft of American Intellectual Property, a private watchdog group. The commission names China as the No._1 culprit, saying its government encourages economic espionage.
▪ More than 80 percent of the largest nonprofit patient advocacy groups accept funding from drug and medical device companies, according to The New England Journal of Medicine. Industry executives sit on the governing boards of nearly 40_percent of the 104 top patient groups.
The New York Times ■