December, 2020

• 6 December

  Exiled Ivory Coast leader plans return

  

  Bloomberg Former Ivorian President Laurent Gbagbo plans to return to the West African nation this month, even as he faces a pending conviction. The Ivorian government issued two passports, an ordinary one and a diplomatic document, to Gbagbo, who’s been living in Belgium for nearly two years, his lawyer Habiba Toure said. The issuances come a month after an October ...

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• 6 December

  Trump campaign spends $8.8mn to overturn vote

  Bloomberg President Donald Trump’s campaign spent $8.8 million on the legal challenges to the November 3 election in various states, including $2.7 million in legal fees, according to the latest filings with the Federal Election Commission. The largest outlay was a $3 million payment to the Wisconsin Elections Commission for a partial recount in two populous counties. The recounts did ...

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• 6 December

  ECB urged to extend bank dividend ban by six months

  

  Bloomberg Europe should extend its de-facto ban on bank dividends by six months, a top official at the European Central Bank’s (ECB) supervisory arm said, casting a shadow over investors’ hopes for a return to payouts early next year. The comments come as big banks across Europe are facing fraught times, with regulators at the ECB and the Bank of ...

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• 6 December

  Goldman opens Luxembourg wealth outpost for Brexit

  

  Bloomberg Goldman Sachs Group Inc opened a Luxembourg-based entity to service rich individuals based in the European Union, the latest in the Wall Street bank’s series of moves to avoid Brexit disruption. The Luxembourg branch of subsidiary Goldman Sachs Bank Europe SE opened last month, according to regulatory records. It will be used for some of Goldman’s European private wealth ...

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• 6 December

  India’s RBI vows easy money as long as needed to aid growth

  

  Bloomberg India’s central bank pledged to keep its easy money policy for as long as necessary to support the virus-battered economy, while for now leaving borrowing costs unchanged amid stubborn inflation. The Reserve Bank of India (RBI) will use a variety of tools to ensure easy financing conditions and market stability, Governor Shaktikanta Das said after a meeting of the ...

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• 6 December

  Deutsche Bank to replace core IT systems into ‘cloud’

  

  Bloomberg Deutsche Bank AG expects to ultimately replace large parts of its core banking system with alternatives powered by Alphabet Inc’s Google, as the German lender embarks on its biggest effort yet to modernise computer systems that have hampered it for years. The two companies finalised a cloud computing agreement under which the German lender plans to shift most of ...

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• 6 December

  Long-term productivity may suffer with remote work: Citi CEO

  

  Bloomberg Citigroup Inc’s Michael Corbat said he’s worried about potential long-term negative effects after many of his employees spent the vast majority of 2020 working from home. “People talk about the productivity that comes with working remotely,” Corbat said in a televised interview for a Bloomberg Invest Talks event. “Well, if I worked seven days a week, 15 to 16 ...

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• 6 December

  Razer to push Youth Bank roll out

  Bloomberg Gaming company Razer Inc will stick with a strategy of expanding into digital-banking services, undeterred by its failure to win a license in Singapore following a closely-watched contest. Razer will push on with a plan to roll out Razer Youth Bank, targeting millennials in countries such as Malaysia and the Philippines, Razer Fintech CEO Lee Li Meng said. Other markets ...

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• 6 December

  Microsoft takes on Amazon, Snowflake in cloud data services

  

  Bloomberg Microsoft Corp released one product and unveiled another designed to warehouse, analyse and keep track of data, taking on Amazon.com Inc and Snowflake Inc in a growing market for cloud-based tools that help companies do more with reams of information. Microsoft widely released its Azure Synapse Analytics tool and announced a preview of a new product called Purview, which ...

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• 6 December

  JD.com becomes China’s first online mall to test digital yuan

  

  Bloomberg JD.com Inc, China’s second-biggest online retailer, will become the country’s first virtual mall to use digital yuan, the cryptocurrency backed by the central bank. JD Digits, the e-commerce giant’s fintech affiliate, will launch a pilot program this month, and customers will pay for certain items with digital yuan, it said on its official WeChat account. About 100,000 digital cash ...

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