Trump denies climate change
Joe Biden, the Democratic candidate for US president, called Donald Trump a “climate arsonist” after Trump claimed, without any evidence, that climate change would reverse itself and was not one of the causes of massive wildfires, that have killed at least 35 people, on America’s west coast. Trump told officials during a briefing in California: “It will start getting cooler. You just watch.” Wade Crowfoot, California’s natural resources secretary, replied, “I wish science agreed with you.” Trump replied: “I don’t think science knows actually.” Trump blames poor forestry management for the fires. Sources: BBC, CNBC, The Guardian, New York Times and Reuters.
Brexit bill passes, despite Tory turmoil
A British bill that would break part of the UK’s Brexit agreement with the EU passed its second reading in the House of Commons, although a number of MPs from the governing Conservative party abstained and 2 voted against the measure. The bill now faces four more days of parliamentary debate. Sources: Deutche Welle, Financial Times, The Guardian and New York Times.
Lux regulator calls for EU caution on Brexit fund rules
The head of Luxembourg’s financial regulator said the EU should not overregulate cross-border investment funds. The European Securities and Markets Authority has proposed tightening Europe’s “delegation” rules (common for Luxembourg-based funds with some managers in the UK) in light of Brexit. “I have sometimes the impression that we may be looking to fix something that has never been an issue,” Claude Marx said during an Association of the Luxembourg Fund Industry conference on Monday. Source: Reuters.
Large scale testing scheme to shift gears
About half of Luxembourg’s population participated in the first phase of the government’s large scale testing programme for covid-19 between 27 May and 27 July. Laboratoires Réunis will manage the second phase, which aims to test up to 53,000 people each week. Phase 2 begins this week and runs until March 2021. Sources: Health ministry and 100,7 public radio.
European contact tracing apps linkup
Six EU countries, including Germany and Ireland, are piloting a platform that would make their national coronavirus contact tracing apps interoperable with each other, which could help make cross-border travel safer. Sources: Bloomberg, Reuters and Stuff.
Latest Luxembourg coronavirus cases
6 people tested positive for covid-19 out of the 730 PCR tests performed in Luxembourg in the 24 hours to Monday afternoon. 16 patients were hospitalised, including 1 in intensive care. Source: Health ministry.
Army said it did not get Luxeosys details in advance
General Alain Duschène told parliament’s budget monitoring committee that Luxembourg’s army was not given a complete briefing on the requirements for the Luxeosys military observation satellite system until after the bill authorising it was passed. Luxeosys was originally meant to cost €170m, but now will exceed €300m. Parliamentary hearings continue. Sources: Chamber of Deputies and Wort.
Putin throws lifeline to Belarus leader
Russia’s president, Vladimir Putin, has given a $1.5bn bailout loan to the embattled Belarusian government of Alexander Lukashenko. Sources: BBC, The Guardian, NPR and Reuters.
UBS & Credit Suisse said to be in merger talks
The Swiss banking giants UBS and Credit Suisse are reportedly considering a tie-up. The deal could be struck next year. Both banks declined to comment. First reported by: Paradeplatz (in German). Additional sources: Bloomberg, Financial Times, Seeking Alpha and the Telegraph.
Trump administration to review Tiktok deal
Bytedance, which owns the Tiktok app, and Oracle have asked the US Treasury Department to approve their technical partnership, which would see Oracle run Tiktok’s US operations to allay privacy concerns. Sources: BBC, CNBC, Financial Times and Marketwatch.
Daimler to pay $2.2bn in US air pollution case
The German automaker Daimler agreed to pay $1.5bn in fines to US and California state regulators to settle claims that it cheated on emissions tests. Separately it agreed to pay $700m to settle a class action lawsuit filed by owners. Sources: BBC, CNN, Marketwatch and Reuters.
Nikola issues denial
The electric truck maker Nikola issued a lengthy rebuttal to a short-seller’s allegations that Nikola deceived investors about its technology. Nikola called Hindenburg Research’s report “false and misleading”. But the SEC, a US financial regulator, is reportedly investigating. Sources: Bloomberg, Financial Times, Marketwatch and Seeking Alpha.
Gas linked to life found in clouds on Venus
Astronomers have detected phosphine in the atmosphere about 30 miles (48 kilometers) above the surface of Venus. On Earth, phosphine is a gas produced by microbes, indicating a possible sign of life on the planet. Sources: Deutsche Welle, Financial Times, The Guardian and Reuters.
Agenda
Tuesday 15 September, 10am-5pm: Learn how companies are trying to make a positive impact in the office during this IMS online sustainability conference. Tuesday 15 September, 1:30pm-2:30pm: Informational webcast for people interested in a career in private equity. Wednesday 16 September, 12noon-1pm: Get caught up on Luxembourg politics during this Delano Live Chat. Thursday 17 September, 6am-Friday 18 September, 3pm: Sam Steen’s marathon Ara City Radio crowdfunding broadcast. Thursday 17 September, 7pm-9pm: British Ladies Club cocktail mixer in Bridel (and you don’t have to be a member).
It’s all about the eyes
In this time of face coverings, GQ asks, “Does wearing a mask make you look hot?”
Luxembourg City reviewed
The grand duchy’s capital is “not boring”, concludes a BBC Travel piece out this week.
Today’s breakfast briefing was written by Aaron Grunwald