December, 2020

• 12 December

  Facebook has to blame itself for drastic remedy

  Mark Zuckerberg always knew. In 2012, when Instagram was two years old, with 13 employees and no obvious path to profitability, Zuckerberg knew that the fast-growing photo app was a potential threat to Facebook Inc’s social media dominance. “Instagram can hurt us,” he wrote in an email. In an internal discussion about whether to buy Instagram — and other startups ...

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• 12 December

  For Black farmers, is justice finally coming?

  In 1920, 14.7% of American farmers were Black. A century later, only 1.4% are — and they earn less money, receive less government support, and occupy smaller farms on average than do their white counterparts. Of the many ailments afflicting rural America in 2020, these racial disparities are some of the most enduring and under-discussed. Is that about to change? ...

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• 12 December

  Joe Biden calls for ‘presidential leadership’ to fight virus surge

  

  Bloomberg President-elect Joe Biden said that the US needs immediate presidential leadership as the daily death toll from the coronavirus exceeds 3,000 people. “This nation needs presidential leadership right now, presidential leadership to model the steps we should be taking to save our lives and the lives of our families,” Biden said in a direct criticism of President Donald Trump. ...

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• 12 December

  Trump signs spending bill to avert shutdown

  

  Bloomberg President Donald Trump signed a one-week stopgap spending bill, ahead of a midnight deadline to avert a federal government shutdown. Funding is now extended until the end of the day on December 18. US lawmakers aim to complete a full-year $1.4 trillion spending bill combined with Covid-19 relief legislation by the new deadline. The Senate approved the stopgap bill ...

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• 12 December

  HK’s Lai charged with endangering ‘security’

  

  Bloomberg Hong Kong media tycoon and prominent pro-democracy activist Jimmy Lai was charged with colluding with foreign forces under the city’s sweeping new national security law and denied bail in a court appearance on Saturday. Prosecutors told the West Kowloon Magistracy that Lai committed the offense — calling for a foreign entity to impose sanctions or engage in hostile activities ...

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• 12 December

  Pfizer vaccine cleared in US, landmark in Covid-19 fight

  

  Bloomberg Pfizer Inc gained emergency US authorisation for its Covid-19 vaccine, completing an unprecedented scientific sprint that could eventually help bring an end to a pandemic that has killed nearly 300,000 Americans. The Food and Drug Administration’s (FDA) decision to authorise use of Pfizer and partner BioNTech SE’s vaccine will now set in motion a complicated immunisation drive that will ...

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• 12 December

  Nestle pushes into China faux-meat market to spur sales

  

  Bloomberg Nestle SA is jumping into the fake-meat business in China, seeking to revive weakening sales there by grabbing market share in the nation. The Swiss company introduced a range of plant-based meat alternatives in China under its Harvest Gourmet brand. Six options including kung pao chicken and braised meatballs will be available later this month on Alibaba Group Holding ...

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• 12 December

  Sweden proposes ‘Covid law’ to let it shut down businesses

  

  Bloomberg Sweden’s government proposed a law that would give it the power to close stores in response to a worsening pandemic. The bill, which would allow the minority coalition to cut shops’ opening hours and limit footfall, is due to take effect in March if it makes it through the consultation process, Minister of Health and Social Affairs Lena Hallengren ...

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• 12 December

  GM, Ford seen lagging Paris climate target

  Bloomberg The vast majority of the world’s largest transport companies, including General Motors (GM), Ford Motor and British Airways owner IAG, are taking insufficient action to limit global warming to within 2 degrees Celsius, according to a report backed by money managers overseeing about $22.8 trillion. Only 18% of airline, car and shipping companies have set carbon-reduction plans in line ...

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• 12 December

  Brexit logjams force freight trains to leave goods at port

  

  Bloomberg UK freight trains are being forced to leave the country’s biggest container port without a full load, in the latest sign that stockpiling to prepare for Britain’s break with the European Union is disrupting supply chains already strained by the coronavirus outbreak. Some trains normally packed with everything from phones to the latest fashions are departing Felixstowe east of ...

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