December, 2020

• 20 December

  Brexit deal on a knife edge after day of drama in talks

  

  Bloomberg Brexit trade talks headed into a decisive weekend with neither side confident of a deal after a frantic 24 hours exposed just how far apart the UK and European Union (EU) still are on an issue that’s hampered the talks since March. With officials from both sides expecting a conclusion one way or the other within the next two ...

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• 20 December

  Suicide bomber in Somalia strikes PM’s rally, 14 killed

  

  Bloomberg The death toll from a suicide bombing aimed at Somali Prime Minister Mohamed Roble has increased to 14. Among those killed in the explosion were members of the prime minister’s security team and top army officials, including the commander of the 21st Division of the Somali National Army, according to Somali police officer Nour Hersi. Ten people died on ...

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• 20 December

  US plans to close down two consulates in Russia

  Bloomberg The Trump administration told lawmakers that it plans to close its two remaining consulates in Russia, CNN reported, citing a State Department notification dated December 10. The US State Department intends to shut the Vladivostok consulate and suspend operations at the consulate in Yekaterinburg, according to a copy of the notification to Congress that was obtained by CNN. That ...

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• 20 December

  More than 300 abducted Nigerian students freed

  Bloomberg More than 300 students kidnapped in northwest Nigeria last week have been freed after being held captive for six days, according to officials. In all, 344 students have been released, Abdu Labaran, a spokesman for Governor Aminu Masari of Katsina state, where the mass kidnapping occurred, said by phone. Nigerian authorities didn’t pay a ransom to secure the release ...

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• 20 December

  India’s Modi defends new farm laws

  Bloomberg India’s Prime Minister Narendra Modi defended his government’s new laws that seek to deregulate food procurement, as tens of thousands of farmers continue to protest on the outskirts of capital New Delhi. Modi listed government measures taken to improve procurement and called on state administrations implementing the laws to explain them to farmers. He blamed opposition parties for fuelling ...

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• 20 December

  Biden seeks negotiations with Venezuela’s Maduro to end crisis

  

  Bloomberg President-elect Joe Biden’s advisers are preparing for potential negotiations with Nicolas Maduro’s regime in Venezuela in an effort to end the Western Hemisphere’s worst economic and humanitarian crisis, according to three people familiar with the matter. The Biden administration intends to push for free and fair elections, offering sanctions relief in return, said the people, who requested anonymity because ...

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• 19 December

  Europe’s big banking mergers are coming in 2021, says BofA

  

  Bloomberg The creation of a European banking champion could be among a slew of transformative deals in the sector next year, according to top financial dealmakers at Bank of America Corp. The region’s banking industry is suddenly abuzz with transactions, driving merger and acquisition volumes up 27% year-on-year to $37 billion since the start of July, data compiled by Bloomberg ...

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• 19 December

  Lloyds scraps all bonuses for 2020 after virus hammers profit

  

  Bloomberg Lloyds Banking Group Plc is canceling bonuses for all staff this year as the Covid-19 pandemic weighs heavily on its earnings. A spokesperson for the bank confirmed it will not pay out any “group performance share” awards in 2020 after rewarding staff with about 310 million pounds ($419 million) last year. The news was reported earlier by the Financial ...

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• 19 December

  Wave of foreign money risking India’s tight grip on its currency

  

  Bloomberg A relentless torrent of funds rushing into India’s markets may tip the central bank’s delicate balancing act in 2021. For most of this year, the Reserve Bank of India has capped currency gains as global investors poured around $50 billion into stocks and stakes in companies. This has boosted rupee liquidity in a banking system that’s already flush with ...

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• 19 December

  European regulators lift ban on bank dividends

  

  Bloomberg European regulators lifted their de facto ban on bank dividends while imposing strict limits on payout levels to help lenders maintain financial strength during the pandemic. The European Central Bank (ECB) said that the continent’s banks should keep dividends and share repurchases to less than 15% of profit for 2019 and 2020, or 0.2% of their key capital ratio, ...

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