Trudeau denies politics in Huawei exec arrest
The Chinese government said Canada and the US had “seriously harmed the human rights” of Meng Wanzhou. The CFO of Huawei was arrested in Vancouver on suspicion of violating US trade sanctions on Iran; the US is seeking her extradition. “People close to Huawei” told the Financial Times that the telecom group had complied with UN sanctions. Huawei said it was “not aware of any wrongdoing by Ms Meng”, who faces a bail hearing later today, reported the BBC. Chinese state media said the arrest was an attempt to reign in competition, reported the Guardian. Justin Trudeau, Canada’s prime minister, said politics did not play a role in her arrest, according to Reuters.
US trade deficit grows
The US international trade deficit rose for the fifth straight month to $55.5bn, its highest level since October 2008, reported the Financial Times, Reuters and Quartz. Despite retaliatory tariffs on Chinese goods, the US imported more than ever from China (while its exports to China dropped).
Opec still debating output cut
Oil prices dropped after Opec members, meeting in Vienna on Thursday, did not agree to cut production, according to CNN, Marketwatch and Reuters. The oil producers bloc is reportedly waiting for Russia, which is not an Opec member, to agree to reduce supply. Opec meets again today.
Deutsche Bank faces more Danske Bank scrutiny
The Financial Times reported that Deutsche Bank “processed €31bn more of questionable funds for Danske Bank than previously thought” as one of the world’s largest money laundering scandals widens. Reuters said Deutsche Bank defended its compliance record and claims to have cut ties with Danske Bank when it detected suspicious transactions. The Economist outlined the initial set of criminal charges filed by Danish prosecutors against Danske Bank and the weak oversight of the bank by Danish regulators. Bloomberg quoted Danske Bank’s interim CEO, Jesper Nielsen, as saying the bank was “not in a position to contest a lot”.
France braces for more “Yellow jacket” protests
The Eiffel Tower, Louvre museum, and shops and restaurants along the Champs-Élysées will be closed on Saturday as French police brace for more Gilet jaunes (yellow vests) protests on Saturday. Last week’s demonstrations ended with rioters burning cars, looting shops and defacing the Arc de Triomphe. French authorities will deploy more than 89,000 security personnel across the country, reported the BBC, DW and Guardian. The Gilet jaunes are named for the yellow safety jackets that French motorists are obliged to carry. They originally formed to protest a rise in fuel tax, which Emmanuel Macron, the French president, reversed this week. But the movement has morphed and now protests the rising cost of living in France and Macron’s economic reforms.
Why Schengen was selected
The BBC visited Schengen, where the Schengen Agreement was signed, as part of its “Places That Changed the World” series.
Chang’e-4 first to land on far side of moon
China’s space agency is close to landing a spacecraft on the dark side of the moon, said MIT Technology Review.