January, 2021

• 21 January

  Covid-19: Manhattan retail rents plummet

  Bloomberg Manhattan’s retail pain is worsening as the pandemic drags on, with rents falling in every major shopping district. Soho was hit the hardest in the fourth quarter, with average asking rents dropping nearly 22% to $290 a square foot, according to a report by brokerage Cushman & Wakefield Plc. Rents in the area, known for its many fashion boutiques, ...

  Read More »
• 21 January

  Biden sworn in to lead nation burdened with challenges

  

  Bloomberg Joseph Robinette Biden Jr. was sworn in as the 46th president of the United States, taking control of a nation wracked by a deadly pandemic, persistent unemployment and burgeoning social unrest to cap the most acrimonious transfer of power in modern American history. Biden, 78, took the oath of office around noon from Chief Justice John Roberts on the ...

  Read More »
• 21 January

  China urges ‘mutual respect’ with Biden after Trump upheaval

  

  Bloomberg China urged cooperation with Joe Biden’s administration and said it hoped new US officials would make their own judgments on Xinjiang, after outgoing Secretary of State Michael Pompeo called Beijing’s crackdown in the region “genocide.” “We hope the new US administration will work together with China, with mutual respect, properly handle differences and conduct more win-win cooperation in more ...

  Read More »
• 21 January

  Britain’s Johnson fights off Tory revolt over China genocide ruling

  

  Bloomberg UK Prime Minister Boris Johnson defeated a rebellion by his own lawmakers after they pressed for British judges to be able to rule if China’s Muslim Uighur minority is suffering genocide. The House of Commons narrowly voted down an amendment to a proposed law on international trade agreements which would have allowed victims to ask the High Court in ...

  Read More »
• 21 January

  India court won’t rule to stop farmers rally

  

  Bloomberg A Supreme Court panel in India refused to issue orders on the government’s petition to stop a proposed rally by farmers that would run at the same time as Republic Day celebrations on January 26. The three-judge panel headed by Chief Justice of India Sharad A. Bobde said police, and not the court, should decide on allowing farmers into ...

  Read More »
• 21 January

  Tunisia’s protests rage on

  Bloomberg Tunisia saw another night of anti-government protests after the prime minister acknowledged “legitimate” anger at nation’s economic malaise while warning against the use of violence. Protesters blocked roads, burned tires and skirmished with police in mainly working class neighbourhoods of Tunis and the central city of Kasserine, local broadcaster reported. More than 600 people have been arrested in upheaval ...

  Read More »
• 21 January

  Malaysia holds key rate amid lockdown to curb virus surge

  

  Bloomberg Malaysia kept its benchmark interest rate unchanged Wednesday, saving its policy ammunition as the country grapples with a surge in Covid-19 infections that could take months to subside. Bank Negara Malaysia (BNM) maintained the overnight policy rate at a record-low 1.75% at its first meeting of the year, as expected by 12 of 23 economists surveyed by Bloomberg. The rest ...

  Read More »
• 21 January

  JPMorgan appoints Huang to lead China securities venture

  

  Bloomberg JPMorgan Chase & Co. has appointed veteran dealmaker Houston Huang to lead its Chinese securities venture as the Wall Street firm steps up expansion in the country. Huang will become chief executive officer and head of investment banking for JPMorgan Securities (China) Co., according to an internal memo seen by Bloomberg News. He will be responsible for implementing the ...

  Read More »
• 21 January

  Big banks unleash $5b from reserves on loan optimism

  

  Bloomberg Wall Street’s worst fears about the fallout from Covid-19 are receding. Three of the biggest US lenders — JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. — cut their combined reserves for losses on loans by more than $5 billion, helping fourth-quarter profit top estimates even as they faced headwinds from low interest rates. While posting ...

  Read More »
• 21 January

  HK bank staff arrested in $810m laundering probe

  Bloomberg Hong Kong police have arrested seven current and former bank staff in the city in an alleged money laundering case involving HK$6.3 billion ($810 million) in dirty money flows over the past four years. Five men and two women, between the ages of 30 and 37, were arrested, the police said in a statement on Wednesday after making raids ...

  Read More »