January, 2021

• 5 January

  Bitcoin’s bulls should fear scarcity problem

  In the eyes of many Bitcoin advocates, scarcity is a key advantage over more conventional assets. Unlike fiat money, which can be created from nothing on a bank’s balance sheet, or gold, which can be mined from the ground in quantities still far from being exhausted, the supply of Bitcoins was set from the start at 21 million. That means, ...

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• 5 January

  Singapore virus success isn’t easily replicated

  At the dawn of 2021, Singapore feels like a coiled spring where growth is just waiting to be unleashed. Last-minute dinner reservations are once again almost impossible to secure and the countless malls that dot the map are hopping on weekends. The Central Expressway, a core artery running north from downtown, is again prone to congestion. Children — mercifully — ...

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• 4 January

  Trump’s last stand on election gives Pence a final loyalty test

  

  Bloomberg President Donald Trump will make his last stand to overturn his election loss on Wednesday when Vice President Mike Pence presides over a congressional session to ratify November’s results, an event that threatens to strain the relationship between the two men. Trump’s refusal to concede and his obsession with overturning the will of voters means the ceremony poses a ...

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• 4 January

  UK judge blocks Julian Assange’s extradition

  Bloomberg A London judge blocked Julian Assange’s extradition to the US to face espionage charges on health grounds, a victory for the WikiLeaks founder after close to a decade of imprisonment or self-imposed exile. Judge Vanessa Baraitser ruled that extradition would be oppressive because of 49-year-old’s mental health, saying he was clearly “a depressed and sometimes despairing man genuinely fearful ...

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• 4 January

  Don’t draw military into US election, say ex-defense chiefs

  

  Bloomberg All 10 living former US defense secretaries called for a peaceful transition of power this month and warned that any effort to involve the military in resolving election disputes “would take us into dangerous, unlawful and unconstitutional territory.” Three days before Congress meets to certify President-elect Joe Biden’s victory, the group, who served Democratic and Republican presidents, evoked the ...

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• 4 January

  Danske becomes Nordic ESG debt leader after $4b in deals

  

  Bloomberg In one of the world’s busiest regions for green debt issuance, Danske Bank A/S has taken a clear lead. After arranging $4.3 billion of sustainable bond sales for Nordic borrowers in 2020, more than any other bank, Danske now expects the primary market to expand by 25% over the coming 12 months, which would be the most ever. “We ...

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• 4 January

  Bitcoin holds near record, Ether surges amid crypto rally

  

  Bloomberg Bitcoin held near a record a day after breaching $34,000 for the first time while Ether, another digital currency, also surged as the crypto rally continues. Ether climbed as much as 22% to about $1,163 following a 30% advance on Sunday. Bitcoin held onto most of its weekend gains, dipping about 1.6% to $33,060 as of 6:53 am on ...

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• 4 January

  Banks, developers slump as China caps loans to curb risk

  

  Bloomberg Shares of Chinese banks and developers tumbled on Monday after regulators made an unprecedented move to cap loans for the real estate sector, the latest effort to snuff out systemic risks. The CSI 300 Financials Index dropped 1.2%, while the gauge of Shanghai-listed property developers falls 2.3% to the lowest in six months. Under new rules, the nation’s largest ...

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• 4 January

  After ECB dividend cap flouted, Finnish FSA considers next step

  

  Bloomberg Finland’s financial watchdog is trying to figure out how to respond after a lender it oversees explicitly disregarded European Central Bank’s (ECB) guidelines on shareholder rewards. The decision by Alandsbanken Abp, announced on January 1, to pay almost four times the dividend cap set by the ECB is “unfortunate,” Jyri Helenius, head of banking supervision at the Finnish Financial ...

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• 4 January

  Polish central bank intervenes to weaken zloty

  

  Bloomberg Poland’s central bank moved to weaken the zloty for the first time in a decade, delivering on a warning that it won’t tolerate a stronger currency as the economy tries to recover from the Covid-19 pandemic. Sales by the bank helped push the zloty down by as much as 1.7% against the euro in low-volume trading. The step comes ...

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