The world’s elite flocked back to the Swiss ski village of Davos this week, celebrating the post-pandemic return of the World Economic Forum. But among the assembled billionaires, bankers, politicians and philanthropists, there was a low-level grumble: Where are the Americans?
US businesses big and small made a fresh push for the Biden administration to remove Trump-era tariffs on Chinese goods as the government considers a formal extension on the hundreds of billions of dollars in levies.
(Bloomberg) — Capital One Financial Corp. eliminated hundreds of technology positions this week, the result of the credit-card giant spending years investing in systems meant to improve its efficiency.
Onion rings and fries will be tight this year, according to Portillo’s Inc. Chief Executive Officer Michael Osanloo — another challenge for restaurant operators that are grappling with high food and labor costs.
(Bloomberg) — Elon Musk oversaw the creation of a 2016 video that exaggerated the abilities of Tesla Inc.’s driver-assistance system Autopilot, even dictating the opening text that claimed the company’s car drove itself, according to internal emails viewed by Bloomberg.
Donald Trump is egging on Republicans already intent on using the federal debt limit as leverage to extract concessions from Democrats, potentially pushing the country further toward the brink of default as the former president seeks to reassert his grip on the GOP.
Federal prosecutors dropped their case against a New York City police officer they charged with spying on ethnic Tibetans for China, an embarrassing reversal after they fought to keep him in custody.
(Bloomberg) — French unions called for renewed strikes on Jan. 31 to step up pressure on President Emmanuel Macron to withdraw an increase in the minimum retirement age to 64 from 62.
Bond traders are backing the Federal Reserve into a corner, loading up on long-term bets while at the same time fading the chances that the central bank will extend its rate hiking cycle beyond a 5% peak policy rate this year.
(Bloomberg) — Former White House trade adviser Peter Navarro must face a criminal contempt trial for refusing to answer a subpoena by the Congressional committee investigating the 2021 attack on the US Capitol riot, a federal judge in Washington ruled.
