Monday, 11 January 2021

Republicans face growing corporate backlash after Capitol assault

Republicans face growing corporate backlash after Capitol assault

Republicans in the U.S. Congress faced growing blowback on Monday from businesses that said they would cut off campaign contributions to those who voted last week to challenge President-elect Joe Biden's victory.

Verizon will suspend donations to lawmakers who opposed Biden certification

U.S. wireless carrier Verizon Communications will suspend donations by its political action committee to lawmakers who did not back the certification of President-elect Joe Biden's victory last week, a spokesman told Reuters.

U.S. grain trader ADM suspends political donations after Capitol riot

Archer Daniels Midland Co said on Monday it will suspend new political donations and review all of its donation policies after supporters of President Donald Trump attacked the U.S. Capitol last week.

Wall Street firms reduce exposure to Chinese telcos as U.S. ban approaches

Wall Street firms in Hong Kong including Goldman Sachs and JPMorgan on Monday moved to reduce exposure to Chinese telecom companies named in a U.S. ban on investments in companies Washington considers linked to China's military.

BP employee group suspends campaign donations, will re-evaluate support criteria

The U.S. employee political action committee at oil giant BP is suspending political contributions for six months and will re-evaluate its support criteria, the company said on Monday.

AT&T suspends donations to lawmakers who opposed Biden certification

AT&T Inc, one of the largest U.S. political contributors, said Monday its political action committee will suspend donations to lawmakers that did not back the certification of President-elect Joe Biden' win last week.

Wall St ends lower with Washington turmoil, earnings in view

Wall Street's main indexes closed lower on Monday as investors took some profits after last weeks' records while they waited for earnings season to begin and eyed events in Washington with trepidation.

Brent crude falls on renewed lockdowns, stronger dollar

Oil prices steadied on Monday after strong gains last week, as tough coronavirus lockdowns around the world renewed concerns about global fuel demand, while a stronger U.S. dollar also weighed on prices.

Stocks slip on virus fears, U.S. yields continue to climb

Stocks came off record highs on Monday partly on caution over rising coronavirus cases globally while elevated Treasury yields continued to support the dollar, which touched its highest since December against a basket of peers.

Ford to close Brazil manufacturing operations, take $4.1 billion in charges

Ford Motor Co said on Monday it will close its three plants in Brazil this year and take pretax charges of about $4.1 billion as the COVID-19 pandemic amplified the company's under use of its manufacturing capacity.

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U.S. bank profits expected to drop again

When the biggest U.S. banks begin reporting fourth quarter results on Friday, some of the headlines could show profits plunged by as much as 40% from a year earlier before the pandemic struck. Fred Katayama reports.
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