China confirms coronavirus contagion
Health officials have confirmed more than 200 cases of the previously unknown coronavirus that is spreading via human-to-human transmission. Four people are known to have died. The respiratory illness was first detected in the Chinese city of Wuhan, and has now reached Beijing, Shanghai, Shenzhen, with cases reported in Japan, Thailand and South Korea. The World Health Organization will hold an emergency session. Sources: Associated Press, BBC, Deutsche Welle, The Guardian and South China Morning Post.
Senate leader proposes speedy Trump trial
Mitch McConnell, the Republican leader in the US Senate, outlined plans for Donald Trump’s impeachment trial. If the proposal is passed by senators, the proceedings would last one week and new evidence and witness testimony would be limited. Sources: The Guardian, Financial Times, NPR and Reuters.
Central American migrants clash with Mexican troops
Mexico’s National Guard fired tear gas on hundreds of US-bound migrants who waded across a river from Guatemala. Sources: BBC, Deutsche Welle and Reuters.
Huawei CFO extradition hearing opens in Vancouver
Lawyers for Meng Wanzhou, the Huawei executive accused by the US of breaking its Iran trade sanctions, argued the she cannot be extradited because the charge is not an offence in Canada. Huawei has said she is innocent. Sources: BBC, CBC, Reuters and South China Morning Post.
Moody’s cuts Hong Kong rating
The credit ratings agency Moody’s has downgraded Hong Kong, from AA3 to AA2, citing the government’s ineffective response to months of widespread protests. Sources: AFP, Financial Times, Reuters and South China Morning Post.
France and US agree to more talks on digital tax
Emmanuel Macron and Donald Trump, the French and US presidents, have declared a truce in the trade spat over France’s new digital turnover tax. Sources: AFP, CNN, Financial Times and Reuters.
Uber unloads food unit in India
The ride hailing firm Uber sold its Indian food delivery business to Zomato, a local rival, in an all-stock transaction. Sources: CNBC, Financial Times, Techcrunch and the Times of India.
Google chief calls for AI regulation
Sundar Pichai, CEO of Google and its parent Alphabet, said artificial intelligence should be regulated in a Financial Times op-ed. Additional sources: BBC, Techcrunch and The Verge.
Difficult 2019 at Fundrock unit in UK
Fundrock Partners, a UK fund administration firm, received £4.4m in “emergency funding” from its parent, Luxembourg-based Fundrock Holding, after recording a £1.9m loss last year, losing one of its largest clients and being “hit by a spate of staff departures,” reported the Financial Times.
Privacy watchdog CNPD still investigating Amazon over Alexa
Luxembourg’s National Data Protection Commission is not fining Amazon for having workers listen to a sample of users’ Alexa requests to improve its software, but “is probing the company for other potential breaches,” according to Bloomberg. Amazon said it was “cooperating” with the inquiry.
Buckingham Palace worried about Waringo report
According to the Express, Buckingham Palace officials are “concerned” about the inquiry led by Jeannot Waringo into management and spending at Luxembourg’s royal household. The queen’s advisors fear the Waringo report will recommend tighter government control and British politicians will follow the template set by Luxembourg PM Xavier Bettel. The British tabloid wrote: “Buckingham Palace officials are reportedly following every detail of the investigation”.
Agenda
Tuesday 21 January: UBS earnings. Tuesday 21 January, 11:45am-2pm: Statec and Oxford Economics hold a European outlook roundtable in Kirchberg that is free and open to the public. Wednesday 22 January: Northern Trust earnings. Thursday 23 January, 4pm-6:30pm: The consultancy Deloitte holds its “Future of Payments Conference”. Friday 24-Sunday 26 January: Euromeet swimming competition.
The benefits of not being 100% fluent in another language
Stumbling over your words in a second language? That could be an advantage at work or during negotiations, per the BBC (published in May 2018).
Now the monkey comes out of the sleeve
Bored Panda has literal translation of 30 non-English expressions and it’s quite informative.
Today’s breakfast briefing was written by Aaron Grunwald