January, 2020

• 19 January

  Trump loses another Russia adviser

  

  Bloomberg The top Russia expert on President Donald Trump’s National Security Council (NSC) has left his post after about three months, according to three people familiar with the matter. Andrew Peek, the NSC’s senior director for European and Russian affairs, was escorted from the White House grounds, two of the people said, asking not to be identified because they weren’t ...

  Read More »
• 19 January

  HK officers injured as rally ends in violence

  

  Bloomberg Two Hong Kong police officers were beaten at a rally in the city centre that was dispersed as it descended into confusion and violent clashes. The officers, from the Police Community Liaison Office, both suffered head wounds after being attacked with wooden sticks and other weapons near the gathering in Chater Garden in the Central business district. The meeting ...

  Read More »
• 19 January

  White House says Dems trying to overturn 2016 vote

  

  Bloomberg Donald Trump’s legal team says Democrats mounted a “brazen” bid to overturn the 2016 election, echoing the president’s aggressive posture in the first formal White House response to impeachment proceedings in the US Senate. Two people close to the team previewed how Trump’s lawyers plan to mount his defense over the coming weeks, largely tracking public statements the president ...

  Read More »
• 19 January

  BOE may cut rates even if key economic number improves

  

  Bloomberg The most up-to-date measure of the UK economy looks set to improve this week — yet it might not be sufficient to deter the Bank of England (BOE) from cutting interest rates. With policy makers signalling they’re considering a rate cut to preempt possible weakness in the months ahead, and recent data backing their case, IHS Markit’s monthly survey ...

  Read More »
• 19 January

  Morgan Stanley’s drive to rein in costs starts with chief Gorman

  

  Bloomberg Morgan Stanley just had its most profitable year on record. It wasn’t enough for its chief to land a raise. James Gorman’s compensation fell as the firm announced he will receive $27 million for 2019, according to a regulatory filing. That’s a 6.9% decline from the prior year and on par with the package the chief executive officer received ...

  Read More »
• 19 January

  Barclays CEO reshapes trading unit at heart of growth plans

  

  Bloomberg Barclays Plc Chief Executive Officer Jes Staley is pushing ahead with changes at the firm’s closely scrutinised investment bank, a key part of his strategy to drive growth. The British lender slashed about a hundred jobs globally at its securities unit this week, focusing on highly paid senior trading roles. The cull also included several senior members of an ...

  Read More »
• 19 January

  China’s overall credit growth holds up in December

  Bloomberg China’s overall credit growth held up in December and a gauge of borrowing costs fell, signalling that policy makers are beginning to see some progress in channelling credit to the economy. The stock of outstanding aggregate financing expanded by 10.7% in the 12 months to December, the same pace as in November, the People’s Bank of China (PBOC) said. ...

  Read More »
• 19 January

  ECB may get earful on prices this year

  

  Bloomberg If European Central Bank (ECB) officials use their review of monetary policy this year as a chance to connect with ordinary people, they need to be ready for some plain truths. At the heart of the assessment, likely to be announced on January 23, is how price stability should be defined and targeted. But ask citizens how they feel ...

  Read More »
• 19 January

  Economists fall out of favour in a negative-rate test case

  

  Bloomberg In the country that’s had negative interest rates longer than anywhere else on Earth, economists are going through a bit of a rough patch. Since Denmark introduced subzero rates in mid-2012, citizens have struggled to get their heads around a world in which savers are punished, borrowers are rewarded and the basic laws of risk-return feel like ancient mythology. ...

  Read More »
• 19 January

  Macron betters stock options to lure tech talent to France

  

  Bloomberg Emmanuel Macron’s pre-Davos summit for tech executives will hold some goodies for start-ups. In the third edition of his “Choose France” summit, timed to catch global CEOs in Paris on their way to the Swiss Alps’ World Economic Forum, the French president will detail measures in his 2020 budget that have improved stock options for start-ups in France. Macron ...

  Read More »