February, 2021

• 20 February

  Australia retail sales rise at slower pace

  Bloomberg Australian household spending rose at a slower-than-expected pace in January as a short, sharp Covid-19 lockdown in the northeastern state of Queensland dragged on stronger performances in other parts of the country. Preliminary retail sales advanced 0.6% from December, but came in below economists’ median estimate of a 2% gain, the Australian Bureau of Statistics said in a report ...

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• 20 February

  Putin foe Navalny to be sent to prison camp after losing appeal

  

  Bloomberg Russian opposition leader Alexey Navalny could be transferred to a prison camp within days after losing an appeal on Saturday of his jailing, which has sparked mass protests and a spike in tensions with the West. The ruling by a Moscow court removes the last legal obstacle to sending Vladimir Putin’s most prominent critic to serve out the term, ...

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• 20 February

  Capitol-riot plot case widens with more Oath Keepers charged

  

  Bloomberg Prosecutors are pursuing a wider conspiracy case against the Oath Keepers, charging six more people with links to the far-right group for their alleged roles in last month’s deadly breach of the US Capitol. A new indictment added to growing evidence that members of extreme right-wing organisations planned and coordinated the January 6 assault in Washington, gathering battle supplies ...

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• 20 February

  Biden pleads for democracy over autocracy, repudiating Trump

  

  Bloomberg President Joe Biden urged US allies to uphold democracy in his first major speech to an international audience, warning that the world faces an “inflection point” in history that could result in a tilt towards autocracy. “We are in the midst of a fundamental debate about the future direction of our world,” Biden said in remarks delivered remotely to ...

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• 20 February

  Thailand’s prime minister survives no-confidence vote as protest looms

  

  Bloomberg Thailand Prime Minister Prayuth Chan-Ocha survived a no-confidence vote in parliament after a four-day debate in which the opposition criticised his government for its handling of the Covid-19 outbreak, the economy and alleged corruption. The no-confidence motion against the premier was rejected by 272 lawmakers, while 206 voted supported it, according to a televised broadcast of the proceedings in ...

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• 20 February

  Lawmakers back Dutch curfew in win for premier

  

  Bloomberg Dutch Prime Minister Mark Rutte won parliamentary backing for a contested nighttime curfew to contain the coronavirus, capping a roller-coaster week that tested his popularity less than a month before a general election. The legislation passed by the Senate in The Hague means the nighttime curfew, which began on January 23 and triggered riots in Dutch cities, can stay ...

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• 20 February

  Bonuses to disappoint bankers after banner year for finance

  

  Bloomberg After a stellar year for trading and dealmaking, European bankers are joining their American counterparts in learning their bonuses won’t be quite as impressive. Credit Suisse Group AG, which contended with major legal hits and writedowns last year, reduced its bonus pool by about 7%. Deutsche Bank AG will boost bonuses for its traders by more than 10%, but ...

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• 20 February

  DBS faces lawsuits in India post-takeover of Lakshmi Vilas Bank

  

  Bloomberg DBS Group Holdings Ltd., Southeast Asia’s largest lender, said it’s facing lawsuits in India related to its recent takeover of a struggling local bank. Holders of Lakshmi Vilas Bank Ltd.’s equity shares and Tier-II bonds that were written off before the effective date of amalgamation took legal actions against DBS’s local unit in various high courts in India, the ...

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• 20 February

  BOE’s Vlieghe gives strongest backing yet for negative rates

  

  Bloomberg Bank of England (BE) policy maker Gertjan Vlieghe gave his strongest backing yet for the use of negative interest rates if the UK needs more stimulus, highlighting a growing schism between officials on the institution’s toolkit. Two days after Deputy Governor Dave Ramsden said the BOE had scope for more quantitative easing (QE) to support the economy — describing ...

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• 20 February

  Credit Suisse seeking full control of China venture

  

  Bloomberg Credit Suisse Group AG is seeking to gain full control over its securities venture in China amid plans to double its headcount and revenue in the world’s fastest growing major economy. The Swiss firm last year gained majority control over the venture and has been working to upgrade its infrastructure as well as moved more bankers into China, Asia ...

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