Update on the latest in business:


Asian shares mixed amid economic aid hopes, pandemic fears

TOKYO (AP) — Asian shares are mixed as hopes for more U.S. economic aid are countered by concerns over damage from the pandemic.

Shares rose today in South Korea and Hong Kong, but fell in Australia and Shanghai. Markets were closed in Japan for a national holiday.

Traders continue to be cheered by prospects the incoming administration of President-elect Joe Biden will pump more aid into the U.S. economy, a move that will help Asia and other export-driven nations. Hopes are high for rollouts of coronavirus vaccines. But the reports of new versions of the virus are setting off new worries.


Pelosi says House will impeach Trump, pushes VP to oust him

WASHINGTON (AP) — House Speaker Nancy Pelosi said Sunday the House will proceed with legislation to impeach President Donald Trump as she pushes the vice president and the Cabinet to invoke constitutional authority force him out, warning that Trump is a threat to democracy after the deadly assault on the Capitol.

The House action could start as soon as today as pressure increases on Trump to step aside. A Republican senator, Pat Toomey of Pennsylvania, joined Republican Sen. Lisa Murkowski of Alaska in calling for Trump to “resign and go away as soon as possible.”

It’s a stunning end to Trump’s final days in office as lawmakers warn of the damage the president could still do before Joe Biden is inaugurated Jan. 20.

Trump has been holed up at the White House, increasingly isolated after a mob rioted in the Capitol in support of his false claims of election fraud.


PGA Championship leaving Trump National in ’22 tournament

KAPALUA, Hawaii (AP) — The PGA of America cut ties to President Donald Trump when it voted Sunday to take the PGA Championship event away from his New Jersey golf course next year.

The vote comes four days after the Trump-fueled riot at the Capitol building as Congress was certifying the election victory of President-elect Joe Biden. This is the second time in just over five years the PGA of America removed one of its events from a Trump course.

PGA President Jim Richerson says the board voted to exercise its right to “terminate the agreement” with Trump National in Bedminster, New Jersey.

It canceled the PGA Grand Slam of Golf in 2015 at Trump National Los Angeles Golf Club after Trump’s disparaging remarks about Mexican immigrants when he announced he was seeking the Republican nomination for president. The event was canceled for good the following spring.


Businesses rethink political donations after Capitol siege

UNDATED (AP) — Businesses are rethinking political contributions in the wake of the deadly Capitol siege by President Donald Trump’s supporters on Wednesday. Citigroup is pausing all federal political donations for the first three months of the year.

In a memo to employees, Citi’s head of global government affairs says the company wants its employees to be assured that Citigroup will not support candidates “who do not respect the rule of law.”

In all, Citi’s political action committee donated $742,000 to federal candidates in 2019-2020 according to OpenSecrets, a group that tracks political donations. Of this, $413,500 — or about 56% — went to Republicans and the rest to Democrats.

The trade group representing Blue Cross Blue Shield Association has suspended political contributions to lawmakers who voted last week to reject the Electoral College results that cemented Democrat Joe Biden’s victory.

Hotel giant Marriott said Sunday it has taken “the destructive events at the Capitol to undermine a legitimate and fair election into consideration” and will be pause political donations to those who voted against certification of the election.


Parler squeezed as Trump seeks new online megaphone

UNDATED (AP) — President Donald Trump has been kicked off of most mainstream social media platforms following his supporters’ siege on the U.S. Capitol. But it remains to be seen how fast or where — if anywhere — on the internet he will be able to reach his followers.

The far right-friendly Parler had been the leading candidate, at least until Google and Apple removed it from their app stores and Amazon decided to boot it off its web hosting service by midnight Pacific time on Sunday.

Parler’s CEO said that could knock it offline for a week, though that might prove optimistic. And even if it finds a friendlier web-hosting service, without a smartphone app, it’s hard to imagine Parler gaining mainstream success.

The 2-year-old magnet for the far right claims more than 12 million users, though mobile app analytics firm Sensor Tower puts the number at 10 million worldwide, with 8 million in the U.S. That’s a fraction of the 89 million followers Trump had on Twitter.

Still, Parler might be attractive to Trump since it’s where his sons Eric and Don Jr. are already active.


China’s Geely, Baidu announce electric car ventures

BEIJING (AP) — Chinese automaker Geely says it will form an electric car venture with tech giant Baidu, adding to a flurry of corporate tie-ups in the industry to share soaring technology development costs.

Geely Holding Group, which also has separate electric car brands, said the venture with Baidu.com Inc. would focus on intelligent and connected electric vehicles. It gave no details of investment or when products might be released.

Global and Chinese automakers have launched partnerships to share the multibillion-dollar costs of developing electric vehicles for China under government pressure to meet sales quotas. China is the world’s biggest market for the technology, accounting for about half of global sales.


Indonesia’s plane safety record is a concern

JAKARTA, Indonesia (AP) — The crash of a Sriwijaya (shree-wih-JY’-uh) Air jet carrying 62 people has once again cast the limelight on the safety of Indonesia’s aviation industry. The country’s aviation record is one of the worst in Asia, though experts say many improvements have been made in recent years.

The United States and European Union have both in recent years lifted bans on Indonesian carriers operating in their skies. Saturday’s crash occurred during heavy rain but it’s not known if the weather was a factor.

The investigation will look into the plane’s condition, the actions of the crew and other possibilities.

Copyright © 2021 . All rights reserved. This website is not intended for users located within the European Economic Area.


Sign up for breaking news alerts