January, 2021

• 10 January

  Shopify shuts down Trump organisation’s online stores

  Bloomberg Shopify Inc said it shut down e-commerce stores affiliated with President Donald Trump in response to the storming of the US Capitol by Trump supporters. “We have terminated stores affiliated with President Trump,” a company spokeswoman said by email. “Shopify does not tolerate actions that incite violence.” The shutdown affects the Trump Organization’s official store, TrumpStore.com, and a campaign ...

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• 10 January

  Louis Vuitton executive to lead Tiffany

  Bloomberg A top executive at Louis Vuitton and one of Bernard Arnault’s sons are set to take over management of Tiffany & Co after the biggest acquisition in the luxury industry by LVMH. Anthony Ledru will be chief executive officer, with Alexandre Arnault being responsible for products and communications inside the brand, the company said, confirming a Bloomberg report they ...

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• 10 January

  North Korea greets Biden with plans to boost nuclear arsenal

  

  Bloomberg Kim Jong Un will put North Korea on a path to develop more advanced nuclear technologies and missiles, sending a chilling warning to President-elect Joe Biden that the Asian leader is ready to ratchet up security tensions. Kim called the US a “war monster” and his “biggest main enemy,” at the first Congress of the Workers’ Party of Korea ...

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• 10 January

  Donald Trump’s role in Capitol riot may figure in criminal probe

  

  Bloomberg The US charged 55 people with crimes stemming from the siege of the US Capitol and President Donald Trump’s actions ahead of the riot may be investigated by federal prosecutors. Asked whether the US Attorney’s office would scrutinise the president’s role in inciting the storming of the Capitol, Michael Sherwin, the acting US Attorney in Washington, said at a ...

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• 10 January

  Pelosi moves cautiously against Trump as Biden focuses on agenda

  

  Bloomberg House Speaker Nancy Pelosi is moving cautiously as she faces pressure from angry Democrats to impeach President Donald Trump for a second time, while President-elect Joe Biden is making it clear he wants to focus on his agenda and fighting the coronavirus. With many House Democrats demanding impeachment after Trump encouraged a mob that stormed the Capitol this week, ...

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• 10 January

  HK blocks local website on ‘security grounds’

  Bloomberg Hong Kong police blocked a local website and cited National Security Law for the first time in doing so. The National Security Department of the Hong Kong Police Force has blocked hkchronicles.com, without specifying which content violated the law. The website often features pro-democracy articles. Ming Pao reported Hong Kong police declined to comment on individual cases, but the ...

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• 10 January

  Goldman traders score $2b in commodities’ comeback year

  

  Bloomberg Goldman Sachs Group Inc.’s commodities traders doubled their revenue haul in 2020 — another sign that Wall Street desks managed to print profits into the year’s finale, even as market mayhem subsided. Goldman’s business generated more than $2 billion in revenue for its best annual showing in about a decade, according to people with knowledge of the matter. That ...

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• 10 January

  Credit Suisse to post fourth-quarter loss

  

  Bloomberg Credit Suisse Group expects to post a fourth-quarter loss after setting aside $850 million for legal cases in US as CEO Thomas Gottstein seeks to tackle legacy issues and start the year with a clean slate. The amount is more than twice what the bank signaled last month when it flagged that a dispute with bond insurer MBIA Inc. ...

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• 10 January

  Deutsche to pay $100m to avoid bribery charges

  

  Bloomberg Deutsche Bank AG agreed to pay more than $130 million to settle criminal and civil charges that it bribed foreign officials and manipulated the market for precious-metals futures through a trading tactic known as spoofing. The Frankfurt-based bank agreed to a deal in which it won’t be prosecuted as long as it doesn’t engage in the practices again for ...

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• 10 January

  Commerzbank takes additional $2.6 billion hit from pandemic

  

  Bloomberg Commerzbank AG will take an additional 2.1 billion-euro ($2.6 billion) hit in the fourth quarter as the pandemic weighs on interest rates and drives up bad loans, pushing the lender deeper into the red as it readies a new turnaround plan. Commerzbank will write off 1.5 billion euros in goodwill on its books and set aside about 630 million ...

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