Donald Trump may close US-Mexico border in response to migrant caravan. Library picture. Photo credit: White House
UAE fund sues Goldman Sachs and praise for Luxembourg City’s Christmas market. Delano’s breakfast briefing for Friday.
Trump might shut Mexico border
Donald Trump said the US could close all border crossings with its southern neighbour if the situation becomes “incontrollable” in Mexico, reported ABC News, the AFP and CBS News. Several thousand migrants are camped in Tijuana hoping to apply for asylum in the US. Trump also authorised soldiers guarding the border “to use lethal force” if needed.
Clinton criticises EU migration policies
Hillary Clinton, the former US presidential candidate, told the Guardian that European leaders need to take a tougher approaches to immigration in order to combat the rise of populism. Clinton said in an interview: “I admire the very generous and compassionate approaches that were taken particularly by leaders like Angela Merkel, but I think it is fair to say Europe has done its part, and must send a very clear message--‘we are not going to be able to continue provide refuge and support’--because if we don’t deal with the migration issue it will continue to roil the body politic.”
May says Brexit talks delivering progress
Theresa May said the draft agreement on EU-UK relations after Britain leaves the bloc as the Brexit people voted for, according to the BBC and DW. Jeremy Corbyn, the leader of the opposition, called the text “26 pages of waffle”. Several issues could trip up talks, including Gibraltar, Reuters reported. Negotiations continue Friday and May returns to Brussels to meet with Jean-Claude Juncker on Saturday.
UAE talking with UK about British academic’s spy conviction
Britain’s Foreign Office is expected to reach an agreement soon with the UAE in the case of Matthew Hedges, the doctoral candidate at Durham University who was given a life sentence for espionage after a 5 minute trial, reported the BBC and Independent. The UAE did not say which country Hedges was allegedly spying for, according to the Economist.
UAE sues Goldman over 1MDB
A UAE sovereign wealth fund, the International Petroleum Investment Company, has sued the investment bank Goldman Sachs in New York over the 1MDB scandal, alleging bribery, reported the Financial Times. IPIC backed bonds issued by 1MDB, the Malaysian development fund where $4.5bn is missing. Bloomberg said that Goldman Sachs earned $593m selling the bonds.
Ghosn fired by Nissan
Nissan, as expected, dismissed Carlos Ghosn as chairman after his arrest in Japan on financial misconduct charges, reported the Associated Press, Financial Times and Economist. The future of the carmaker’s alliance with Renault, where Ghosn is chairman and CEO, has been called into question. Ghosn is still in detention and has made no public statements.
Italian fashion brand faces racism backlash
Dolce & Gabanna cancelled its upcoming Shanghai fashion show and has been dropped by e-commerce sites and retailers across China in response to an advert, which critics call racist, and negative comments about the country made on social media by the fashion brand’s co-founder, Stefano Gabbana. The advert shows a Chinese woman trying to eat pasta and pizza with chopsticks. D&G apologised and said Gabbana’s accounts had been hacked. Reported by the BBC, Reuters and South China Morning Post.
Dexia nears sale of German unit
Dexia has received two final bids for its German unit Dexia Kommunalbank, Reuters reported. Dexia has been selling assets since its bailout by the Belgian, French and Luxembourg governments (which still back the bank) in 2011.
Bitcoin firm insolvent
Giga Watt, a US-based bitcoin mining firm, declared bankruptcy and owes creditors $10m-$50m, according to Coindesk. Last year Giga Watt raised roughly $22m in an initial coin offering, but investors sued the company over irregularities.
Quantum cryptography call
“Within a decade, quantum computers will be able to break a blockchain”, the code that secures virtual currencies like bitcoin, researches wrote in Nature. Unless, of course, we develop quantum blockchain and quantum internet technology.
Young witness reports “hit and run” to car owner
A bus in New York state hit Andrew Sipowicz’s car and then drove off without reporting the accident. The university student found the culprit, reported the BBC, thanks to a note left by a 6th grader (usually aged 11 or 12 in the US), which read “Bus 449 hit your car” and included a drawing of the incident. The bus operator has apologised and said it will pay for the damage.