Johnson: “Strong possibility” of no deal
The British prime minister, Boris Johnson, said there was “a strong possibility” that the EU and UK would not be able to strike a post-Brexit trade agreement before the transition period ends on 31 December. But Johnson pledged to “go the extra mile” to reach an accord with European leaders. Sources: AFP, BBC, The Guardian and Politico.
EU releases emergency Brexit measures
The European Commission published proposals to maintain transport links between the EU and UK on an interim basis in case of a no deal Brexit. London, EU national capitals and the European Parliament must agree to many of the measures. Brussels also suggested granting temporary access to EU and UK fishermen to each other’s waters. Sources: BBC, Financial Times, Euractiv and The Guardian.
Britons face EU travel ban
UK citizens could be blocked from entering the EU, except for essential travel, starting on 1 January. Britain’s coronavirus exception ends with the transition period on 31 December, but the EU could revise its rules. Sources: BBC, Euronews, Politico and the Telegraph.
EU budget finally passes
European leaders broke an impasse over the EU’s 7-year €1.8tn budget, which includes the €750bn covid recovery package, after Hungary and Poland ended their opposition to linking funds with rule of law provisions. Sources: CNBC, DW, Euractiv and Politico.
France to start nightly curfew
The French government said it would ease a partial coronavirus lockdown on 15 December, but would introduce an 8pm to 6am curfew. The curfew will be waived the night of 24 December, but not for New Year’s Eve. Sources: AFP, BBC, Euronews and France 24.
Pfizer/Biontech vaccine close to interim approval in US
A scientific advisory panel recommended that the Pfizer/Biontech covid-19 vaccine candidate be granted emergency authorisation, the last step before the FDA regulatory agency likely clearing its use in the US. Sources: CNBC, NPR, Reuters and Seeking Alpha.
Latest Luxembourg covid-19 update
Out of 8,336 PCR tests conducted on 9 December, 480 Luxembourg residents tested positive for the coronavirus. That is a rate of 76.66 new cases per 100,000 inhabitants (compared to 99.82 on 2 December). The Rt effective reproduction rate was 1.00, the target threshold (compared to 1.05). There were 216 patients in hospital on 9 December (compared to 201 on 2 December), including 47 in intensive care (compared to 41). Nine people died due to covid-19 on Wednesday, bringing the national total to 384. Sources: Delano and health ministry.
Kox out of quarantine
The housing and internal security minister, Henri Kox (Green party), has left quarantine after testing negative for the coronavirus. He had not shown any symptoms, but self-isolated on Saturday after a close colleague tested positive. Source: Government press release.
“Sanguine” about 2021
Financial sector executives were cautiously optimistic about the economy during a Luxembourg for Finance conference on Thursday. Source: Delano.
Irish outfit buys Lux manco
Davy Group acquired Novacap, a fund management company based in Kirchberg, for an undisclosed sum. Sources: Delano, Irish Times and RTE.
Airbnb stock doubles after IPO
Shares in the booking site Airbnb shot up 113%, valuing the lossmaking company at roughly $100bn. Sources: BBC, CNBC, Marketwatch and NPR.
Disney doubles down on streaming
Disney said the number of subscribers to its Disney+ streaming service could triple by 2024. The company will add more content from its Marvel, “Star Wars” and Pixar franchises. Sources: Bloomberg, CNBC, Financial Times and Reuters.
Visa and Mastercard block Pornhub
Mastercard said it cut off Pornhub, the adult entertainment site owned by Luxembourg-based Mindgeek, from its payments network. Separately, Visa said it suspended Pornhub from its payments system. The financial firms have been investigating Pornhub over allegations that it publishes child rape and revenge porn videos. Pornhub called the moves “exceptionally disappointing”, has rejected the accusations and said it has strengthened safeguards on its site. Sources: AP, BBC, New York Times and Reuters.
Zara closing Luxembourg City-Centre store
The fast fashion chain Zara said it would shutter its Grand-Rue location in June 2021, citing the cost of its lease. Sources: Paperjam.
Morocco to “resume official contacts” with Israel
King Mohammed VI said Morocco would be the latest Arab country to normalise relations with Israel. Sources: CNN, DW, Financial Times and Haaretz.
Museum to spotlight Dutch role in slavery
The Rijksmuseum, the Netherlands’ national art museum, will mount an exhibition next year on the Dutch slave trade. Sources: AP, Artnet, France 24 and The Guardian.
Here are 3 business & finance stories you may have missed
Digital payments: Paypal and Square started cryptocurrency services, initially in the US, and are quickly dominating the market for bitcoin, per Barron’s, CNBC (video) and Seeking Alpha. Investment industry: Driven by Brexit, fund management companies (mancos) are bulking up and buying each other out, per the Financial Times. Inclusion: 46 private equity firms and investors--including Ardian, Ares Management, Blackstone, Carlyle Group, KKR and TPG--signed a global pledge to improve diversity, per Pensions & Investments and Reuters.
Here are 7 science & technology stories you may have missed
Artificial intelligence: Researchers sketched out a system which would allow a balloon (which could be carrying scientific or communications equipment) to autonomously stay aloft in a fixed position for several weeks at a time, per Nature. Biology: Certain insects and reptiles have a self-preservation mechanism called “reflex bleeding” where they bleed from their eyes and joints, per NPR (podcast). Cloud computing: Amazon is trialling cheap sensors connected to the cloud that monitor the status of equipment in its distribution centres and employee health and safety compliance, per the Financial Times and ZDnet. Engineering: The world’s first undersea roundabout, connecting two of the Faroe Islands, is set to open on 19 December, per the BBC and Telegraph. Health: Researchers found that mostly sedentary people who got “about 11 minutes of moderate-to-vigorous exercise a day” lived longer than those who managed just 2 minutes a day, per CNBC. Space: The European Space Agency signed a contract with a Swiss startup to clean up orbiting space junk using a four-armed claw, per Science magazine and Spacenews. Zoological whodunnit: The birds that ‘invaded’ the California coast in 1961, an incident which partially influenced Alfred Hitchcock’s “The Birds” (1963), had been poisoned, per Popular Science.
Agenda
Tuesday 15 December, 9am-10am: Paperjam Club’s look back at the past 10 years in Luxembourg’s financial sector and look ahead at the next decade. Tuesday 15 December, 2:30pm-4:30pm: ABBL and Alrim’s “Sustainability risks from the banking perspective” conference. Tuesday 15 December, 6pm-7pm: Amcham’s “Luxembourg/US relations: Where are we and where are we going?” webinar. Wednesday 16 December, 7pm-8:15pm: Paperjam’s top 100 economic decisionmakers ceremony. Thursday 17 December, 5pm-6pm: Chinalux hosts a virtual beer tasting.
Here are 3 job search advice articles you may have missed
Linkedin: A recruiter told Bored Panda how recruiters have a different view on Linkedin and offered suggestions on how to boost your profile. Cover letters: A hiring manager shared with Fast Company what makes her throw out applications and what pushes cover letters up to the top of the pile. Interview advice: A career coach says “you should never end a job interview before asking this important question” per CNBC.
Kitchen tools
Rubber cutting boards were apparently quite the rage in the kitchens of cool restaurants in New York and Japan (before the covid-19 outbreak, at least), per GQ.
Today’s breakfast briefing was written by Aaron Grunwald