Good morning! Here’s what you need to know.
1. Prime Minister Theresa May has said that a Government white paper will prevent pensions from being at risk of bosses “trying to line their own pockets.” In a comment piece published in the Observer, Mrs May addressed the issue of pension deficits in the wake of the collapse of construction firm Carillion.
2. Spain’s state prosecution service said on Sunday it would seek the arrest of former Catalan president Carles Puigdemont if he travelled from Belgium to Denmark on Monday to attend a debate he is billed to host. Puigdemont fled to Brussels after his regional government declared independence from Spain on Oct. 27 following a referendum ruled illegal by Spanish authorities, who also sacked his cabinet.
3. European leaders will be out in force at the World Economic Forum in Davos this week to defend multilateralism before US President Donald Trump arrives to deliver his “America First” message. Politicians, business chiefs, bankers and celebrities will meet in the Swiss Alps under the banner “Creating a Shared Future in a Fractured World” for the four-day gathering against an unsettling global backdrop.
4. Germany faces growing risks and high costs if it does not revamp its financial system to focus more on climate change and sustainability, according to a new report by the World Wildlife Fund.The study faulted German conservatives and Social Democrats for failing to even address green finance in their blueprint for a new government.
5. Saudi Arabia’s energy minister urged global oil producing nations on Sunday to extend their cooperation beyond 2018. Their agreement on supply cuts, originally launched last January, is due to expire in December this year.
6. Social Finance (SoFi) is in discussions with Anthony Noto, a top Twitter Inc executive, to become the online lender’s chief executive, the Wall Street Journal reported. Noto, Twitter’s chief operating officer, has been offered the CEO position at SoFi, the report said, and was expected to make a decision in the coming days.
7. Deutsche Telekom will keep to its promise of hiking dividends in 2018 and the years thereafter, its Chief Financial Officer Thomas Dannenfeldt told German daily Boersen-Zeitung. “I am very confident that we will be able to stick to our promises, in particular with respect to the planned increase of our free cash flow by about 10% and the according dividend policy”, he was quoted as saying.
8. French President Emmanuel Macron said Britain would be able to have a bespoke deal with the European Union after Brexit, one of Prime Minister Theresa May’s objectives. But in an interview with the BBC, Macron said London’s financial center could not enjoy the same level of access to the EU under May’s current Brexit plan, which envisages Britain leaving the EU’s single market and customs union.
9. Chinese conglomerate Dalian Wanda said its revenue dropped for a second consecutive year, by 10.8% in 2017, as the group sold off property assets and faced increasing scrutiny from regulators and lenders. The property-to-entertainment group, owned by tycoon Wang Jianlin, reported 227.4 billion yuan ($US35.54 billion) in revenue, while net profit remained flat compared with 2016.
10.Oil prices climbed on Monday, pushed up by a drop in US drilling activity and by fighting in Syria between Turkish forces and Kurdish fighters. Brent crude futures were at $US68.79, up 18 cents, or 0.26%, from their last close. Brent on Jan. 15 hit its highest since December, 2014, at $US70.37 a barrel.
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