Asian stocks mixed after Wall St rebounds from uncertainty
BEIJING (AP) — Asian stock markets are mixed after Wall Street rebounded, shrugging off uncertainty about a possible new attempt to impeach President Donald Trump.
Tokyo, Australia and South Korea advanced. Shanghai was off 0.1% and Hong Kong swung between gains and losses. On Tuesday, Wall Street’s benchmark S&P 500 index gained less than 0.1%, recovering from the previous day’s decline.
Analysts suggested investors were focused on President-elect Joe Biden’s possible economic stimulus plans after he takes office next week. Investors have been encouraged by the rollout of coronavirus vaccines and U.S. elections that gave Biden’s Democrats control of the Senate, reducing the likelihood political conflict might delay more stimulus.
TRUMP-SOCIAL MEDIA BANS
YouTube suspends Trump’s channel for at least a week
HONG KONG (AP) — YouTube has suspended President Donald Trump’s channel for at least a week amid concerns around “ongoing potential for violence,” making it the latest platform to limit the president’s online activities.
The Google-owned platform removed content that was uploaded on January 12 from the Donald J. Trump channel for inciting violence, although it was not immediately clear which videos in question were in violation.
The move to curtail Trump comes after a mob of his supporters, urged on by his rhetoric, stormed the Capitol last week trying to stop Congress from certifying President-elect Joe Biden’s win. YouTube said that the channel had its “1st strike”, adding it indefinitely disabled comments on the channel.
VIRUS OUTBREAK-TRAVEL RESTRICTIONS
US will require all arriving passengers to get COVID-19 test
NEW YORK (AP) — Anyone flying to the U.S. will soon need to show proof of a negative test for COVID-19.
The Centers for Disease Control and Prevention says the order will take effect in two weeks.
The U.S. is already facing a surge of coronavirus infections, and new, more contagious variants are emerging around the world.
The CDC says the test won’t eliminate all risk, but it will slow the spread of the virus in the U.S. while more Americans get vaccinated. U.S.-bound travelers will need to get a test within three days of their flight.
YELLEN CONFIRMATION HEARING
Yellen’s Senate confirmation hearing set for Jan. 19
WASHINGTON (AP) — The Senate Finance Committee says it will hold a confirmation hearing for Treasury Secretary-nominee Janet Yellen on Jan. 19.
The timing for the hearing will mean that Yellen will appear before a panel still controlled by Republicans. Democrats will not take over control of the Senate until Jan. 20 after President-elect Joe Biden and Vice President-elect Kamala Harris are sworn into office.
Yellen is expected to win easy confirmation. She will be the first woman to be Treasury secretary in the nation’s history and also the first person to have held all three top economic posts — chair of the president’s Council of Economic Advisers, chair of the Federal Reserve and head of Treasury.
Boeing deliveries drop despite 737 Max’s return to flight
UNDATED (AP) — Boeing has reported final 2020 numbers for airplane orders and deliveries, and they are down from 2019 even though the 737 Max is flying again.
Boeing said Tuesday that it booked 90 orders for new airliners in December, most of them for Ireland’s Ryanair. Boeing also says it delivered 39 commercial planes in December, including 27 Max jets. American Airlines took 10 Maxes and United Airlines got eight.
Those deliveries came after the Federal Aviation Administration approved changes in a flight-control system on the plane. Maxes were grounded worldwide for 21 months after crashes in Indonesia and Ethiopia killed a total of 346 people.
However, the market for new planes remains depressed by the COVID-19 pandemic.
CAPITOL BREACH-BUSINESS BACKLASH
US Chamber says some legislators will lose campaign funding
WASHINGTON (AP) — The U.S. Chamber of Commerce is threatening to withhold campaign funds from politicians who fought approval of Joe Biden’s election victory, but it wouldn’t identify which ones.
During a session Tuesday on the state of American business, the chamber also did not call for Trump’s ouster after last week’s insurrection at the Capitol. But the group called the president’s conduct unacceptable and said it undermined institutions and ideals.
The chamber says it will withhold contributions from some legislators based on their actions last week and how they conduct themselves in the coming days. The group says it will keep supporting legislators who showed respect for democratic norms and institutions.
CAPITOL BREACH-TRUMP BUSINESSES
Trump business backlash part of ‘cancel culture,’ son says
NEW YORK (AP) — Hits to President Donald Trump’s business empire since the deadly riots at the U.S. Capitol are part of a liberal “cancel culture.” That’s according to son, Eric Trump, who said in an interview with The Associated Press that his father will leave the presidency with a powerful brand backed by millions of voters who will follow him “to the ends of the Earth.”
The remarks come amid an extraordinary backlash against the Trump Organization that included the PGA canceling its golf tournament at the president’s New Jersey course and several banks saying they will no longer lend to him.
Visa, Plaid call off merger following antitrust pressure
CHARLOTTE, N.C. (AP) — Visa Inc. has called off its planned $5.3 billion purchase of payment processing technology company Plaid, citing the Department of Justice’s antitrust lawsuit filed last year to block the deal.
Politicians and antitrust experts had argued that the deal would give Visa — which is already the largest payment-processing company in the world — even more power over how customers and businesses pay for goods and services.
In a statement, Visa said it still believes that deal would have benefited consumers but decided to scrap it to avoid further litigation.
Some Uber, Lyft drivers sue over California ballot measure
LOS ANGELES (AP) — Drivers for app-based ride-hailing and delivery services are suing to overturn a California ballot initiative that makes them independent contractors instead of employees eligible for benefits and job protections.
The lawsuit filed Tuesday in the California Supreme Court said Proposition 22 is unconstitutional because it limits the power of the Legislature to grant workers the right to organize and excludes drivers from being eligible for workers’ compensation.
The November measure was the most expensive in state history. A group that supported the ballot initiative issued a statement saying the lawsuit was meritless and seeks to undermine the will of voters.