January, 2021

• 12 January

  Brexit drags UK below US in business location ranking

  

  Bloomberg Britain is significantly less attractive as an international business location because of Brexit but remains well positioned compared with other major economies, according to a German study. The UK slipped behind the US to second place in the latest ranking published by Germany’s Foundation for Family Businesses, though it remains ahead of the rest of its Group of Seven ...

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• 12 January

  Italy government to seek parliament nod for larger deficit

  

  Bloomberg Italy’s government will ask parliament to approve another increase in the deficit later this month to pay for vaccines, healthcare, and support for companies and workers, according to Finance Minister Roberto Gualtieri. The request will be for 24 billion euros ($29 billion), Gualtieri said in an interview with the Corriere della Sera newspaper. That’s equivalent to 1.5% of Italy’s ...

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• 12 January

  German finance minister sees economic recovery

  

  Bloomberg German Finance Minister Olaf Scholz said a slight economic recovery is on the horizon thanks to robust state aid preventing much of the potential fallout of the pandemic, Deutsche Presse-Agentur reported. He credited Germany’s fiscal stimulus and the Berlin government’s shift on crisis aid at the EU level with saving jobs, the German newswire quoted Scholz as telling a ...

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• 12 January

  Apple, Amazon remove Parler after use in US Capitol riots

  

  Bloomberg Apple Inc. and Amazon.com Inc. are removing Parler from their services, part of a growing backlash after the social media network was among those used to organise last week’s riots at the Capitol. Apple dropped Parler from its App Store, while Amazon’s cloud unit decided to stop hosting the social media company. They joined Alphabet Inc.’s Google, which removed ...

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• 12 January

  Twitter shares fall 6% following Trump ban

  

  Bloomberg Twitter Inc. shares fall 6.1% in pre-market trading after the social media platform permanently banned outgoing President Donald Trump. The San Francisco-based company confirmed its decision in a blog post, saying Trump’s tweets breached policies by risking incitement to violence. It cited Trump’s posts referring to riots in the US capital last week. Mirabaud analyst Neil Campling said the ...

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• 12 January

  Young American adults top $10trn in assets for first time

  

  Bloomberg Despite the pandemic-induced recession of 2020, America’s young adults doubled their assets over the past four years, new data from the Federal Reserve show. This marks the first time the assets for so-called millennials have exceeded $10 trillion. But, this generation, the oldest of whom turn 40 this year, has a massive debt burden as well, according to the ...

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• 11 January

  China telcos rally as mainland funds buy record HK stocks

  

  Bloomberg Having slumped under the weight of a US executive order, China’s three major telecommunications companies are on the rebound in Hong Kong — supported by a record inflow of mainland cash. Mainland traders bought a record HK$19.5 billion ($2.5 billion) of Hong Kong stocks through trading links on Monday, according to data compiled by Bloomberg. China Mobile Ltd. led ...

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• 11 January

  India stocks head for new highs on vaccine, earnings prospects

  

  Bloomberg India stocks advanced towards new peaks as sentiment was boosted by a positive start to the quarterly earnings season and the commencement of vaccinations in the nation this week. The S&P BSE Sensex climbed 0.5% to 49,012.73 as of 10:21 am in Mumbai, while the NSE Nifty 50 Index advanced 0.4%. Both gauges, heading toward fresh record highs, were ...

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• 11 January

  Dollar advances; US futures, Asia stocks dip

  Bloomberg The dollar rises on Monday and most Asian stocks slipped along with US equity futures as traders weighed the implications of higher Treasury yields amid President-elect Joe Biden’s push for huge fiscal aid. The dollar climbed a third day against major peers. A gauge of Asia-Pacific shares dipped, South Korea erased an advance of as much as 3.6%. S&P ...

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• 11 January

  Shuaa Capital buys out AED1.13b debt of Stanford Marine Group

  

  DUBAI / WAM Shuaa Capital on Sunday announced that it has successfully completed a debt buyout of Stanford Marine Group’s (SMG) AED1.13 billion ($308 million) facility, resulting in a successful outcome for all parties involved, including the participating banks. SMG is one of the most prominent and diversified offshore services companies in the Middle East, with a focus on chartering, ...

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