March, 2021

• 9 March

  Clubhouse, TikTok are antidote to Twitter’s rage

  After about a decade of stasis, big things are afoot in the world of social media. Audio chat app Clubhouse, newsletter platform Substack, and video-sharing app TikTok, among others, are giving rise to an explosion of new conversations and building large followings for the early adopters. But even more importantly, the new platforms are partially unbundling Twitter, threatening to make ...

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• 9 March

  Cash turns out to be the most effective welfare

  Biden’s $1.9 trillion Covid-19 relief bill has passed the Senate, clearing the way for it to become law. Much of the legislation is dedicated to handing out cash to individual Americans. This is a sign post for a tectonic shift that’s underway in US policy thinking towards unconditional money transfers as the optimal way to help people in need. When ...

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• 9 March

  Hong Kong minister warns citizens against ‘oblivious’ criticism of China

  

  Bloomberg Hong Kong’s top legal official warned residents to steer clear of criticisms of the government that stray too far from the facts, as officials defend Beijing’s plan to overhaul the city’s elections. Hong Kong Justice Secretary Teresa Cheng said in an interview on Tuesday that opinions were “no more than an utterance of no value” if the facts weren’t ...

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• 9 March

  Joe Biden offering temporary protected status to Venezuelans

  

  Bloomberg The Biden Administration will offer temporary protected status to an estimated 320,000 Venezuelans who fled their home country, allowing them to legally stay and work in the US. Venezuelans who are accepted into the program will receive temporary immigration status for 18 months, said a senior administration official who requested anonymity. They’ll be required to apply in the next ...

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• 9 March

  Paraguay’s biggest opposition party to seek impeachment of president

  

  Bloomberg Lawmakers of Paraguay’s largest opposition party said they will begin preparing impeachment charges against President Mario Abdo Benitez and Vice President Hugo Velazquez amid widespread protests over administration’s management of pandemic. All 29 lower house lawmakers of Authentic Radical Liberal Party backed the decision and an impeachment draft could be shared with other opposition parties soon, lawmaker Celso Kennedy ...

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• 9 March

  RNC to use Trump’s name in fundraising

  Bloomberg Donald Trump has given approval for Republican National Committee (RNC) to use his name in fundraising and other materials after the former president threatened to sue if the GOP continued to do so, the RNC said. Trump told RNC chairwoman Ronna Romney McDaniel that he’s fine with the RNC’s current use of his name, RNC Chief Counsel J. Justin ...

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• 9 March

  Central banks face jumpy bond market with 10 days of decisions

  

  Bloomberg Central banks helped save the world economy from depression as the pandemic struck. Now they are dealing with the hard part: managing the recovery amid a difference of opinion with investors. Optimism that Covid-19 vaccines and continued government stimulus offer an escape from the worst health crisis in a century has sent bond yields soaring and pushed bets on ...

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• 9 March

  Barclays plans to slash 60 jobs at investment bank

  

  Bloomberg Barclays Plc is planning job cuts at its corporate and investment bank as part of its cost-saving measures, according to people with knowledge of the matter. The reductions will affect around 60 jobs, including some senior roles in the US and other countries, said one of the people, who asked not to be named discussing private information. A spokeswoman ...

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• 9 March

  China’s central bank to step up efforts to curb financial risks

  

  Bloomberg China’s central bank will take measures to prevent systemic financial risks from building in the economy as the recovery takes hold, Deputy Governor Chen Yulu said. Laying out priorities for the next five years, Chen said the People’s Bank of China will improve its macro-prudential assessment framework and strengthen supervision of “systemically important” institutions, businesses and infrastructure. “The priority ...

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• 9 March

  Nine Polish banks in talks on Swiss loans

  

  Bloomberg Nine Polish banks are coalescing around a proposal for out-of-court settlements with holders of Swiss franc mortgages, according to PKO Bank Polski SA, the nation’s biggest lender. State-controlled PKO has spearheaded efforts to work out a joint solution to around $31 billion in mostly Swiss franc loans, based on a proposal by the country’s financial regulator and backed by ...

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