Markets rattled by Wuhan virus
Global markets have been hit by the coronavirus outbreak. The price of oil dropped 2% per the BBC and Financial Times. US equities were dragged down by airline and travel stocks, per CNBC. Copper fell by 4.3% and mining companies slid by 2.4%-5.7%, per Seeking Alpha. European shares declined 2%, per Reuters. Asian markets slid between 0.85% and 3.25%, per the Associated Press and CNBC.
Coronavirus kills more than 100
Chinese authorities said the number of confirmed cases rose from 2,835 to 4,515. The virus, officially called 2019-nCoV, has killed 106 people. Sources: BBC, CNBC and South China Morning Post.
First cases reported in Germany
A man in Bavaria contracted the coronavirus. (Three cases were previously confirmed in France.) Sources: AFP, Deutsche Welle and Politico.
Amazon staff speak out on climate despite risk
More than 350 Amazon employees published an open letter and video critical of the company’s record on climate change and its external communications policy. Amazon has pledged to be net carbon zero by 2040. Sources: CNBC, Financial Times, Fortune, Seattle Times and The Verge.
Boeing receives fresh financing
The troubled aircraft maker Boeing secured $12bn in loans, after originally seeking $10bn, to help it through a cash crunch as its 737 Max jets remain grounded. Sources: Bloomberg, CNBC and Financial Times.
British decision on Huawei 5G likely to be compromise
Later today the British government is expected to allow Huawei, a Chinese telecom vendor, to supply some kit for the UK’s 5G mobile networks, despite US pressure to block the firm. Sources: Deutsche Welle, Financial Times and The Guardian. Additional coverage: Reuters on the Huawei “state of play” in other European countries.
Fog suspected cause in Bryant crash probe
Investigators determining the cause of the helicopter crash that killed Kobe Bryant, his 13 year old daughter Gianna and 7 others said the pilot had received special authorisation to fly through poor weather. Sources: Associated Press, BBC, The Guardian, Los Angeles Times and Sky News.
Prince Andrew not helping in Epstein probe: prosecutor
The US prosecutor leading a sex trafficking investigation of the late Jeffrey Epstein said that Prince Andrew has provided “zero cooperation” despite US authorities requesting an interview. Buckingham Palace had no comment. Sources: BBC, Deutsche Welle, Financial Times, The Guardian and Reuters.
Former king of Belgium concedes paternity
Belgium’s ex-King Albert II admitted that he is the “biological father” of Delphine Boël, a 51 year old artist, following a court-ordered DNA test. Sources: BBC, The Bulletin, Deutsche Welle, The Guardian and People.com.
Here are 3 fund industry stories you may have missed
Technology: Fund managers who do not capitalise on artificial intelligence will be left behind, a consultant argues in this Financial Times op-ed. Trends: Blackrock is reorganising its management team following its pledge to make ESG criteria a top priority, per Citywire Selector. The “T” words: The Economist argued in favour of sometimes paying high asset management fees; if not 2-and-20 then 0.5-and-30.
Agenda
Tuesday 28 January, 9am-12:45pm: Data Protection Day 2020 event in Belval. Wednesday 29 January, 4pm-7pm: Viviane Reding, a former European justice commissioner, is among the speakers at an EU internet market regulation conference in Belval. Wednesday 29 January, 6:30pm: AI is explained during this Crypto-Apéro talk at Rotondes. Wednesday 29 January, 8pm: Luxembourg’s military band performs during a Special Olympics fundraiser in Merl. By Friday 31 January: Women of Irish heritage can enter to be a Luxembourg Rose.
Sincerely yours
How you sign off emails, especially when writing in a second language, can change how your message is perceived, per the BBC.
Today’s breakfast briefing was written by Aaron Grunwald