A recap of Chair Yellen’s first day on the Hill under the new administration. For now, the message was similar: yes on hikes, slow on pace, careful attention to the economy in the meantime – NYTimes and WSJ and Bloomberg and Law360

Japan’s SoftBank hasn’t been shy about bold moves, but its most recent one—the decision to buy American PE giant Fortress Investment Group—is an especially big one. The deal is seen as bolstering SoftBank’s recently announced $100 billion tech investment fund –NYTimes and WSJ and Bloomberg

Activist investors—this time in the form of Trian Fund Mgmt—have their sights set on Procter & Gamble, “adding urgency” to P&G’s efforts to boost its stock price – WSJ and Bloomberg

NY Federal Judge Lorna Schofield has dismissed portions of a proposed class action accusing Deutsche Bank of delaying Forex trades at its clients’ expense, finding that NY’s Consumer Protection Act doesn’t apply to the matter – Law360

Breakingviews suggests that a potential merger of European auto heavyweights Opel (currently a division of GM) and Peugeot could face difficulty in living up to its promise – NYTimes [and Bloomberg]

Turns out that those bearing the biggest brunt of Dodd-Frank aren’t in favor of a wholesale repeal. Here are some of its provisions that big banks would frankly rather keep around – WSJ

Toshiba’s not in a good place right now – NYTimes and WSJ and Bloomberg

Sooooo, by the way, the magnetic field that protects Earth from harmful space radiation has been weakening and may be on the verge of disappearing altogether (if the planet’s poles flip, as some predict).  Then again, maybe it’s just a “squiggle.”  That’d be something good to LOCK DOWN, don’t you think, scientists? – NYTimes