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John Paulson Banks $5 Billion in Profits

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Lower profits at Ford: Shares drop 7 percent in premarket trading. [Reuters CNBC]

Protests in Egypt continue. [WSJ]

John Paulson banks $5 billion in profits—which may be the best single year gain in investing history. [WSJ]

Geithner says global inflation is still “not high on the list of concerns,” for the world's economy. [WSJ]

Sarah Lee is splitting in two. [Financial Times]

The Illinois Supreme Court has rules that Rahm Emanuel can stay in the Chicago mayoral race. [New York Times]

Hedge funds beat up on Goldman Sachs president over calls for tougher regulation in Davos. [CNBC via FT]

Welcome to weather hell: NYC is the new Buffalo. [New York Times]