Wednesday, 12 January 2022

Wednesday Briefing: Party over? UK PM Johnson faces crunch day in parliament

Wednesday, January 12, 2022

by Linda Noakes

Hello

Here's what you need to know.

Argentina roasts in a record-setting heat wave, Anthony Fauci says Senator Rand Paul is driving violent threats against him, and investors must decide whether to buy the bounce

Today's biggest stories

FILE PHOTO: British Prime Minister Boris Johnson attends the weekly Prime Minister's Questions in parliament, January 5, 2022

WORLD

British Prime Minister Boris Johnson will have to fight today to defend his premiership after it was revealed a "bring your own booze" gathering was held at his official residence during the first coronavirus lockdown. Opposition lawmakers have called for Johnson to resign and some in his own Conservative Party have said he should quit if he is found to have broken strict laws his government brought in to prevent the spread of the virus.

Russia began to lay out its demands for security guarantees in Europe to NATO's 30 allies, following intense talks with the United States in Geneva that showed the two sides have major differences to bridge.

North Korean leader Kim Jong Un called for boosting the country's strategic military forces as he observed the test of a hypersonic missile, state media said, officially attending a missile launch for the first time in nearly two years.

Argentina is facing a historic heat wave with temperatures soaring above 40 degrees Celsius, making the country for a while the hottest place on the planet, straining power grids and forcing residents to seeking sanctuary in the shade.

Novak Djokovic said "human error" was behind a mistake on his documents for entry to Australia that breached its strict laws on reporting recent travel, as the government weighed whether to deport the player.

Dr. Anthony Fauci shows a screen grab of a campaign website while answering questions from Senator Rand Paul during a Senate hearing at Capitol Hill, January 11, 2022

U.S.


Dr. Anthony Fauci, the top U.S. infectious disease official, accused Republican Senator Rand Paul of spreading misinformation that has sparked threats of violence against him and his family while distracting the public from the fight against the COVID-19 pandemic.

The Biden administration announced a new set of measures to keep schools open, including increasing access to COVID-19 tests, as the highly contagious Omicron variant spreads rapidly through the United States.

Biden made a full-throated appeal for U.S. voting rights legislation stalled in Congress, saying Democratic lawmakers should rewrite Senate rules to overcome Republican opposition. In a speech designed to breathe life into the fight to pass federal voting laws and convince skeptical Democrats of his commitment, Biden called many Republicans cowardly and committed to changing the Senate 'filibuster' to pass legislation.

Campaign donations are surging to candidates for U.S. election oversight roles, a report found, in a sign of how former President Donald Trump's false claims of election fraud are raising the stakes in this year's November elections.

A panel of North Carolina judges upheld the state's new congressional map, rejecting claims from Democratic voters and advocacy groups that the redrawn district lines illegally favor Republicans.

BUSINESS

As stocks attempt to climb back from a brutal sell-off, investors are watching a variety of metrics to decide whether to buy the rally or brace for more declines. A look at historical valuations shows there may be more downside ahead for tech and growth stocks.

China's central bank is set to unveil more easing steps to support slowing growth, though it will likely favor injecting more cash into the economy than cutting interest rates too aggressively, policy insiders and economists said.

Premium telescopes, violin bows and speciality paper are bucking a deflationary trend that has defined Japan for decades - all have had their prices hiked by companies confident they can charge more without losing business. We look at how, as costs soar, some Japanese companies are doing the unthinkable.

Volkswagen vehicle deliveries fell 8.1% in 2021 to just under 4.9 million hurt by supply chain bottlenecks, the carmaker said, adding it expected the situation to remain volatile in the first half of this year. By contrast, luxury carmaker BMW saw record deliveries of 2.21 million vehicles from the BMW brand, a success attributed in part to its ability to adapt to supply chain shortages

Philips shares plunged more than 11% after the Dutch health technology company hiked the cost of its massive recall of ventilators and said earnings would take a big hit from global supply chain shortages.

Quote of the day

"We are going to have to be humble but a bit nimble"

Federal Reserve Chair Jerome Powell

U.S. economy can withstand Fed tightening and Omicron surge, Powell says

Video of the day

Food served up robotically at Beijing Olympics

Journalists arriving early for the Winter Olympics have been among the first to have their food served up to them remotely.

And finally…

Cambodia's landmine-sniffing 'hero' rat dies in retirement

The rat named Magawa, who found more than 100 landmines and explosives during a five-year career, leaves a lasting legacy of saved lives in the Southeast Asian nation.

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