10 things you need to know in markets today

Good morning! Here’s what you need to know in markets on Monday.

Theresa May has ‘categorically’ ruled out staying in any form of customs union after Brexit, in an attempt to shut down a growing Cabinet split over Britain’s exit from the EU. A senior government source said on Sunday evening: “To put this to rest, we are categorically leaving the customs union. It is not our policy to stay in the customs union. It is not our policy to stay in a customs union.”

Asian shares fell the most in over a year on Monday as fears of resurgent inflation battered bonds, toppled Wall Street from record highs and sparked speculation that central banks globally might be forced to tighten policy more aggressively.MSCI’s broadest index of Asia-Pacific shares outside Japan shed as much as 2% in the largest daily drop since late 2016. It was last down 1.4%.

Overseas investors continued to pour money into London’s pricey offices last year, driven by Asian investors who snapped up landmark buildings including the “Walkie Talkie” skyscraper.Real estate firm CBRE said investors spent £16.4 billion on office buildings in the capital in 2017, 26% more than the previous year. About 81% of those deals were completed by overseas purchasers, and £6.9 billion, or 54%, of investment was from Asia.

US President Donald Trump said the Nunes memo “totally vindicates” him from the Russia investigation. The memo, which Trump authorised to be released, claims officials acted improperly when signing off on surveillance of a former Trump campaign adviser. Democrats have called its release “reckless.”

JPMorgan, Bank of America, and Citi are banning bitcoin purchases using their cards. Credit card providers which allow transactions with cryptocurrency exchanges could be left exposed to higher risk than usual because of the massive volatility of the assets.

South Korea said on Monday that North Korea last year stole cryptocurrency from the South worth billions of won and that it was still trying to hack into its exchanges.“North Korea sent emails that could hack into cryptocurrency exchanges and their customers’ private information and stole (cryptocurrency) worth billions of won,” said Kim Byung-kee, a member of South Korea’s parliamentary intelligence committee.

Uber and Google-owned Waymo go to court on Monday.Google is seeking damages from Uber for stealing “trade secrets” relating to self-driving technology, as well as a permanent injunction blocking Uber from using the technology.

Nissan plans to invest 60 billion yuan ($US9.5 billion) in China over the next five years with its joint-venture partner as it seeks to become a top three automaker in the world’s biggest market. Long stuck as a second-tier player in China, Nissan and Dongfeng Group said on Monday they plan to boost their volume to 2.6 million vehicles a year by 2022, up from 1.5 million vehicles last year.

Broadcom plans to unveil a new offer of approximately $US120 billion for Qualcomm Inc on Monday, aiming to ratchet up pressure on its U.S. semiconductor peer to engage in negotiations, people familiar with the matter said on Sunday.The move comes ahead of a Qualcomm shareholder meeting scheduled for March 6, when Broadcom is seeking to replace Qualcomm’s board of directors by nominating its own slate for election.

Eurosceptic Conservative MPs reportedly want a “dream team” of Boris Johnson, Michael Gove, and Jacob Rees-Mogg to overthrow the prime minister if she fails to back a hard Brexit.The Sunday Times said Theresa May is facing the coup amid reports that the government plans to keep Britain in the Customs Union, or a version of this trading arrangement, after Brexit.

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