Opening Bell: Apple to face FBI in Congress; After 14 years, Argentina strikes deal with creditors

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The FBI and Apple remain at loggerheads over the company's refusal to unlock the iPhone 5C of San Bernardino killer Syed Farook.

Apple has already issued two statements denying it will bend to the will of the FBI. In the second of these, the company's chief attorney argued that unlocking the phone would actually create more crime.

The tech giant's general counsel Bruce Sewell plans to argue such a move would ultimately jeapordise the cyber security of Americans, leaving them vulnerable to hackers and criminals.

District Attorney for Manhattan Cyus Vance, in his opening statement, said unlocking orders should be subject to warrants, but that Apple should not be usurping the place of the US Government in keeping the American people safe.

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Barclays Plc is to publish its first earnings report since the appointment of new CEO Jes Staley in December to turn around the bank's fortunes.

The firm is half-way through a three-year cost-reduction plan, which will shed 19,000 jobs worldwide.

The report is expected to outline new strategic changes, and post losses resulting from payment protection insurance provisions and unstable markets.

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Irish hoteliers are planning to invest in refurbishments this year, but remain cautious about a two-tier recovery.

2015 was the best year for Irish hotels in over a decade, and an Irish Hoteliers Federation survey shows 93% are to increase investment, while 82% have seen a rise in business so far this year.

But not everyone in the industry is flying high. IHF President Stephen McNally said the recovery is not being felt in all parts of the country, and one-fifth of hoteliers remain concerned about the existence of their business.

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Argentina has agreed to end its 14-year battle over debt repayments for $4.64bn.

The country has hammered out a deal with its main holdout creditors, which will be presented to Congress next week, and would allow for the country's return to global credit markets.

According to Reuters, the creditors, including billionaire Paul Singer of Elliott Management, will receive a sum totalling 75% of the outstanding amount, including interest and principal.

The deal follows the election of centre-right President Mauricio Macri in November. During his campaign, Macri pledged to take a free-market approach, abandoning the protectionism of predecessor Cristina Fernandez.