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Week ahead:

Biden inauguration, UK public finances and retail sales, ECB rate meeting

The spotlight will be on the inauguration of Joe Biden who will be sworn in as 46th president of the US

Biden Cabinet picks signal shift from Trump national security policies

Fox News correspondent Peter Doocy joins 'Special Report' with the latest on the transition.

Latest stories

  • ADDING MULTIMEDIA — ENHERTU® Approved in the U.S. for the Treatment of Patients with Previously Treated HER2 Positive Advanced Gastric Cancer

    Daiichi Sankyo Company, Limited (hereafter, Daiichi Sankyo) and AstraZeneca’s ENHERTU® (fam-trastuzumab deruxtecan-nxki) has been approved in the U.S. for the treatment of adult patients with locally advanced or metastatic HER2 positive gastric or gastroesophageal junction (GEJ) adenocarcinoma who have received a prior trastuzumab-based regimen.

  • Coronavirus vaccines to be offered to over 70s as Government expands rollout

    It comes as a ban on quarantine-free travel into the UK entered into force at 4am in a bid to keep out new coronavirus strains.

  • Oil Extends Losses on Stronger Dollar and Still-Surging Virus

    (Bloomberg) -- Oil extended losses in Asia on a stronger dollar and a still-surging coronavirus after slumping the most in almost four weeks on Friday following the release of disappointing U.S. economic data.Futures in New York fell below $52 a barrel after tumbling 2.3% on Friday. The dollar held gains Monday after advancing last week, reducing the appeal of commodities like oil that are priced in the currency. Chinese economic growth and industrial production data released Monday came in ahead of estimates, helping oil to pare losses slightly.Covid-19 continues to spread rapidly, complicating the global consumption recovery. The U.S. is on track to reach 400,000 deaths before President-elect Joe Biden’s inauguration on Wednesday, while the U.K. is closing its travel corridors with other countries as cases spike. Indian energy demand got off to a shaky start to the year, with sales of transport and cooking fuels dropping Crude still managed to eke out a small gain last week, helped by a rebalancing of commodity indexes and the promise of more U.S. stimulus spending. However, the rally that started in early November and has pushed oil to the highest in almost a year looks to be stalling amid a worsening short-term demand outlook.The dip in prices on Friday was a “breather” for a market that has rallied strongly, said Howie Lee, an economist at Oversea-Chinese Banking Corp. “Biden’s inauguration will be the focus of markets this week, particularly on how quickly he can roll out his fiscal stimulus plans.”Libya’s oil output, meanwhile, has dropped by about 200,000 barrels a day after the closure of a leaking pipeline. The decline underscores how difficult it is for the country to maintain production after almost a decade of civil war.See also: President Biden Won’t Unlock a Wave of Iranian Crude: Julian LeeThe worsening short-term outlook is being reflected in oil’s futures curve. Brent’s prompt timespread is 2 cents a barrel in contango -- a bearish structure where near-dated prices are cheaper than later-dated ones -- after being as much as 16 cents in backwardation earlier in the month.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Bitcoin Retreats From $40,000 Level Strategists View as Key

    (Bloomberg) -- Bitcoin retreated further from the $40,000 level on Monday, a decline that could portend more losses based on the latest analysis from strategists at JPMorgan Chase & Co.The cryptocurrency could be hurt by an exodus of trend-following investors unless it can “break out” above $40,000 soon, a team including Nikolaos Panigirtzoglou said. The pattern of demand for Bitcoin futures and the $22.9 billion Grayscale Bitcoin Trust will help determine the outlook, they added.“The flow into the Grayscale Bitcoin Trust would likely need to sustain its $100 million per day pace over the coming days and weeks for such a breakout to occur,” the strategists wrote in a note on Friday.Traders seeking clues about investor appetite for risk have been gripped by Bitcoin’s stunning rally and turbulent 12% slide from a record of almost $42,000 on Jan. 8. The cryptocurrency boom since March embodies the ebullience in financial markets awash with stimulus to fight the impact of the pandemic -- as well as the concern that some of these gains may prove unsustainable.The JPMorgan strategists said Bitcoin was in a similar position in late November, except with $20,000 as the test. Flows of institutional investment into the Grayscale trust helped the world’s largest cryptocurrency extend its rally, they wrote.Trend-following traders “could propagate the past week’s correction” and “momentum signals will naturally decay from here up till the end of March” if Bitcoin’s price fails to break above $40,000, they said.Bitcoin dipped about 4% to $35,100 as of 1:14 p.m. in Tokyo on Monday. Ether, another popular digital coin, shed 5% to $1,200.Exactly what’s driven the yearlong near-quadrupling in Bitcoin’s price remains murky. Commentators have cited day traders, wealthy buyers, hedge funds, companies and even signs of interest from long-term investors like insurers.Bitcoin’s proponents argue it’s maturing as a hedge for dollar weakness and the possibility of faster inflation in a recovering global economy. Others say its defining characteristic remains speculative booms followed by busts.(Updates with latest price movements from the first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Couldn't have put in a worse performance than this: Pirlo slams players after defeat

    Milan [Italy], January 18 (ANI): Juventus manager Andrea Pirlo has slammed players after suffering a defeat against Inter Milan and even went on to say that his side "couldn't have put in a worse performance than this".

  • Patrick Mahomes’ concussion scare reminds the Chiefs there's one thing they can't control in quest to repeat

    Nobody has repeated as Super Bowl champion since the New England Patriots in 2003 and 2004. And those back-to-back titles weren't just down to talent and coaching.

  • Tanguy Ndombele’s Tottenham turnaround all thanks to him, insists Jose Mourinho

    Spurs’ record signing scored a fine goal in Sunday’s 3-1 victory at Sheffield United.

  • Guitarist for Metal Band Iced Earth Surrenders to FBI on Capitol Insurrection Charges

    Guitarist Jon Schaffer, a founding member of the metal band Iced Earth, has been taken into custody in his home state of Indiana after making “wanted” lists as a result of his widely seen participation in pro-Trump forces’ siege of the U.S. Capitol. News outlets including the Indianapolis Star have reported that Schaffer turned himself […]

  • Jurgen Klopp says qualifying for Champions League is ‘most important thing’

    The Merseysiders’ goalless run was extended to three games on Sunday with a 0-0 draw against Manchester United.

  • Global Markets: Asia shares pare losses as China economy rebounds

    Asian shares pared early losses on Monday as data confirmed China's economy had bounced back last quarter as factory output jumped, helping partially offset recent disappointing news on U.S. consumer spending. Industrial production for December also beat estimates, though retail sales missed the mark. "Despite the latest dip in retail sales, we see plenty of upside to consumption as households run down the excess savings they accumulated last year," said Julian Evans-Pritchard, senior China economist at Capital economics.

  • Vanderbilt's Fuller invited to attend Biden inauguration

    Fuller, who is a goalkeeper for Vanderbilt University women's soccer team, said it was an honour to be invited to one of "America's greatest traditions". "This historic inauguration is especially meaningful for American women and girls," she said on Twitter. As well as Biden, she tagged Kamala Harris -- who is the first female Vice President-elect -- in the tweet.

  • China Box Office: Mid-January Weekend Weighs in at $47 Million

    Family drama film “A Little Red Flower” continued its dominance of China’s box office in 2021 with a third weekend on top of the charts. The weekend was, however, a typically quiet one for January, worth an aggregate $47.1 million according to exhibition and distribution consultancy, Artisan Gateway. While the individual films’ scores are modest, […]

  • Jack Leach shines as England close in on Sri Lanka victory despite nervy start to chase

    Jack Leach’s five-for has set the tourists up for victory in Galle, with Jonny Bairstow and Dan Lawrence still at the crease at stumps on day four

  • What the papers say – January 18

    Vaccines opening up to five million more Britons is among the stories on Monday’s front pages.

  • Two bogies of train derail in Lucknow

    Two bogies of Shaheed Express, on its way to Jainagar from Amritsar, derail near Lucknow.

  • Trump's 'History Of Violence' Exposed In Conservative Website's Damning Supercut

    The president has been stoking violence for years.

  • Cleveland Browns tumble out as Kansas City Chiefs go through to AFC Championship

    The reigning Super Bowl winners took an early lead but were pushed all the way by the resurgent Ohio side.

  • Sulawesi quake death toll at 81 as Indonesia battles series of disasters

    A powerful earthquake that struck Indonesia's Sulawesi island last week has killed at least 81 people and displaced more than 19,000, the country's disaster mitigation agency said, as search and rescue efforts continued on Monday. The 6.2-magnitude quake, part of a string of disasters to hit the Southeast Asian archipelago in recent weeks, struck West Sulawesi in the early hours of Friday morning, sending thousands fleeing from their beds. Disaster mitigation spokesman Raditya Jati said in a statement on Monday that 81 people were confirmed to have died, while more than 250 had been seriously injured.

  • Long after Bucs' win over the Saints, Tom Brady went back to the field to find Drew Brees

    Drew Brees might be retiring, and Tom Brady came back to the Superdome field to find him.

  • Super Retail Group returns $1.7m from jobkeeper amid calls for Harvey Norman to follow suit

    Super Retail Group returns $1.7m from jobkeeper amid calls for Harvey Norman to follow suit. Owner of Supercheap Auto and Rebel posts record profit and joins Toyota in volunteering to forego subsidies in move welcomed by treasurer