Indra K. Nooyi, Chairman and CEO of PepsiCo
Photo by Spencer Platt—Getty Images
By Tom Huddleston Jr.
February 11, 2016

Hello friends and Fortune readers.

Wall Street stock futures are taking a hit this morning, as investors dump U.S. dollars on worries that the Federal Reserve could find it hard to raise interest rates this year.

Today’s must-read story is from Fortune‘s Leena Rao and it looks at eBay (EBAY) CEO Devin Wenig’s turnaround plan and how the e-commerce company plans to take on rival Amazon (AMZN).

Here’s what else you need to know today.

1. Rio Tinto takes a hit

Global miner Rio Tinto (rio) slumped to a net loss for 2015, hit by a rout in commodities, and scrapped its promise to pay a steady or higher dividend annually due to the tough outlook. The move paves the way for arch rival BHP Billiton (bhp) to take a similar step later this month, as miners come under pressure to shore up cash to weather the worst downturn to hit the sector in nearly two decades.

2. PepsiCo Q4 earnings

PepsiCo (PEP), the second-largest food and beverage company in the world by revenue, will likely post fourth-quarter sales that fall short of Wall Street’s forecasts. The strong U.S. dollar, along with weak economies in Russian and some Latin American markets, weighed on the company’s revenue despite gains from Pepsi’s strong growth in the market for non-carbonated beverages. Meanwhile, investors will be looking for signs of sales growth from the company’s Lay’s potato chips brand, as industry analysts are concerned that the brand is ceding ground to competing chip brands.

3. Google’s U.K. tax meeting

Google (GOOG) executives—led by Matt Brittin, head of the tech giant’s Europe, Middle East, and Africa business—will meet with U.K. lawmakers and U.K. tax agency head Lin Homer today to discuss Google’s settlement with the British government to pay nearly $190 million in back taxes. The deal has been heavily criticized from various angles since it was announced and European Union antitrust chief Margrethe Vestager has promised to investigate the settlement.

4. More earnings: AIG, CBS

Insurance giant American International Group (AIG) is likely to post fourth-quarter losses that are smaller than had previously been expected after the company announced plans to downsize its retail business amid pressure from activist investor Carl Icahn. Meanwhile, television network operator CBS (CBS) is expected to have seen a bump in its fourth-quarter revenue as it shifts its focus from advertising revenue to capitalizing on its online subscription streaming services. Still, the network is also likely to have seen strong ad sales thanks to demand for Super Bowl ad spots, which sold for a reported $5 million per 30-second slot. Other companies reporting quarterly earnings today include TripAdvisor (TRIP) and videogame maker Activision Blizzard (ATVI).

5. Weekly jobless claims

The Labor Department is expected to report that the number of Americans who filed new applications for unemployment benefits last week declined by 4,000 claims. The number of weekly jobless claims likely dropped to 281,000 from 285,000 claims filed during the previous week.

—Reuters contributed to this post.

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