Lagarde,
Managing Director of the International Monetary Fund (IMF) reacts
during the session 'The BBC World Debate: A Richer World, but for
Whom?' in the Swiss mountain resort of Davos
Thomson Reuters
Good morning! Here's what you need to know.
1. President Donald Trump will meet with Israeli Prime
Minister Benjamin Netanyahu, Rwandan President Paul Kagame and
other world leaders when he attends the World Economic Forum in
Davos, Switzerland. Trump will also host a
small dinner for European business executives on Thursday night
at the summit, White House economic adviser Gary Cohn told
reporters at a briefing.
2. European Union finance ministers agreed to remove eight
jurisdictions, including much-criticised Panama, from the bloc's
blacklist of tax havens, one month after the list was set
up. Barbados, Grenada, South Korea, Macao, Mongolia,
Tunisia and the United Arab Emirates joined Panama as
jurisdictions delisted "following commitments made at a high
political level to remedy EU concerns," according to a statement
from the ministers.
3. Venezuela's "petro" cryptocurrency will initially be
offered in a pre-sale in hard currency and other
cryptocurrencies, the government said, and not initially
available in the country's collapsing bolivar
currency. Leftist President Nicolas Maduro is
hoping to capitalize on the success of cryptocurrencies by
creating one for Venezuela as the bolivar plunges to all-time
lows and the country struggles with hyperinflation.
4. RBS will leave its current London headquarters by the end of
2019 in a cost-cutting move. Many staff will
transfer from the headquarters at 280 Bishopsgate in the City of
London to another RBS building at 250 Bishopsgate.
5. The European Union is set to fine US chipmaker Qualcomm for
taking advantage of its dominance when it paid Apple to use its
chips exclusively in Apple mobile devices, The Financial Times
reported. Europe's antitrust watchdog is
expected to say on Wednesday that Qualcomm hurt competition and
innovation.
6. The European parliament began divvying-up British seats that
will be left empty post-Brexit from 2019 with Spain, France,
Italy and the Netherlands scooping up most. Of the
73 seats held by Britain, 27 will be allocated to existing EU
states.
7. The New York Stock Exchange said it didn't need to "bend over
backwards" to lure Saudi Aramco in what could be the world's
biggest IPO. Britain's markets watchdog, hoping
that hosting the huge float in London would boost the city's
status as a global financial hub as it prepares for Brexit, came
under fire last year for appearing to be ready to bend its rules
for Aramco.
8. The German anti-euro party Alternative for Germany (AfD) is
set to chair parliament's key budget committee if talks succeed
to renew a "grand coalition" of conservatives and the Social
Democrats. The AfD, which stormed into
parliament for the first time in September, will become the
largest opposition party in the lower house.
9. German carmakers Daimler and BMW are close to agreeing to
combine their car-sharing services Car2Go and
DriveNow. The merger talks are in the final stages
and the combined company will be independently run, with BMW and
Daimler as largest shareholders.
10. Bitflyer said it did not fear a regulatory clampdown would
squeeze the market, and instead was targeting millions of new
customers in Europe with a fresh expansion. The
Japanese exchange, which matches buyers and sellers of bitcoin
and other cryptocurrencies, is launching a European exchange to
seize on demand following a surge in activity last year.
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