Democrats will introduce a motion to the House of Representatives on Monday calling on Mike Pence, the vice-president, to strip Donald Trump of his office following last week’s violence by the president’s supporters in Washington.
If Mr Pence fails to sanction his boss, the Democrats plan to vote to impeach Mr Trump later this week, which would make him the first president to be impeached twice.
But the push to impeach the president again is running into resistance in the US Senate, with senior lawmakers on both sides of the aisle voicing their opposition to the move. No Republicans have said they will vote to convict him of wrongdoing in the Senate and even Democrats are sceptical.
Joe Manchin, the Democratic senator for West Virginia, said on Sunday he did not want impeachment proceedings to distract Mr Biden in his first few months in office.
The outgoing president had his preferred megaphone removed when Twitter suspended his account on Friday. That move, along with the decision by Amazon, Google and Apple to remove rightwing social network Parler from their platforms, has provoked a conservative backlash against technology companies.
US business leaders have also begun to distance themselves from Mr Trump, while hotel chain Marriott, Commerce Bancshares and Citibank all said they would stop donating to members of Congress who tried to overturn the election.
The sporting world has joined politicians and corporate groups in breaking with Mr Trump. The PGA of America, the body that runs professional golf events in the US, announced it would move the 2022 PGA Championship away from Mr Trump’s Bedminster, New Jersey resort. (FT, Popular Information)
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Andrew Hill argues that executives could move faster to vaccinate the public after discarding old bureaucratic habits. Governments must focus on speed, openness and innovation in their vaccination strategy, writes Camilla Cavendish. Follow our live coronavirus blog.
US banks to delist hundreds of HK-listed products JPMorgan, Morgan Stanley and Goldman Sachs are set to delist 500 Hong Kong-listed structured products in line with President Donald Trump’s executive order barring investment in companies with alleged links to China’s military. Beijing has sought to prohibit Chinese companies and individuals from complying with foreign government-mandated measures. (FT)
Top US banks set to buy back $10bn of shares A strong end to 2020 has paved the way for America’s top banks to buy back more than $10bn of their shares in the first quarter, as the loan losses of the pandemic year recede and capital markets fire on all cylinders. Bank stocks, stuck in the investment doghouse for years, are back in favour. (FT)
Barry Diller ‘sceptical’ of MGM-Entain deal success The billionaire chairman of MGM Resorts’ largest shareholder, IAC, has expressed doubt that the US casino group’s attempt to take over UK gambling business Entain will succeed, despite his company promising increased investment in MGM as part of the deal. The British company’s chief executive quit on Monday after just six months in the job. (FT)
Indonesia plane crash Indonesian authorities said they determined the location of the crash site and black boxes of a Boeing 737-500 on Sunday. The plane carrying 62 people plunged into the sea shortly after taking off from Jakarta on Saturday afternoon. (AP, FT)
China-US tensions over Taiwan China on Monday condemned the US’s decision over the weekend to ease restrictions on diplomatic relations with Taiwan. Mike Pompeo, US secretary of state, lifted longstanding restrictions that limit American diplomatic relations with Taiwan with just over a week until the Biden administration takes office.
Venezuela takes tentative steps towards market reform Two decades after Hugo Chávez launched the Bolivarian Revolution meant to free Venezuela from capitalism and turn it into a socialist idyll, the country looks more capitalist than it has for years — at least on the surface. (FT)
CES goes virtual Up to 200,000 visitors usually attend the Consumer Electronics Show in Las Vegas, scoping out potential tech breakthroughs, but this year the four-day event will be entirely virtual. (FT)
EU parliament debates Brexit deal The European Parliament will start debating the Brexit deal on Monday, but ratification is expected to be a formality. (FT)
Biodiversity summit President Emmanuel Macron of France will chair a virtual One Planet Summit on biodiversity. About 30 leaders are expected to speak, including Angela Merkel, Ursula von der Leyen, Christine Lagarde, Boris Johnson, Justin Trudeau and António Guterres.
New York goes all in on vice Governor Andrew Cuomo is expected to give details of his plans to legalise mobile sports betting in the state, creating the largest market for such activity in the US. (FT)
Join Peter Spiegel and Swamp Notes columnists Rana Foroohar and Edward Luce as they discuss what to expect on Inauguration Day and beyond. Sign up and tune in on January 19.
America’s failed insurrection Last week marked the worst breach of the Capitol since the war of 1812 and is regarded as a day of infamy in America’s democracy. The event saw the most dramatic consummation of what has been the standard operational procedure for Trumpism: the wink to violence and the empire of lies, writes Simon Schama. The Republican Party must reflect and accept responsibility for what it has all too willingly enabled, writes former Pennsylvania congressman Charlie Dent. (FT)
Why investors shrugged off the Capitol riots Investors last week cheered a new Democratic administration that will also control Congress. Business has wrung all it can out of President Trump and is desperate for the kind of synchronised combination of fiscal and monetary stimulus the Biden administration will provide. (FT)
Fatih Birol A net zero by 2050 plan for the energy sector is coming, writes the executive director of the International Energy Agency. “National approaches are not enough to achieve the change we need — we must think globally.” US climate finance is approaching a leapfrog moment, writes a former deputy US Treasury secretary. (FT)
Bitcoin has ambitions for gold’s role Can bitcoin seriously compete with gold as a safe asset for the largest investors? History, regulation and market volatility makes that seem improbable, but it is beginning to develop a more important role, writes Gavyn Davies, chairman of Fulcrum Asset Management. (FT)
Algorithms and the pandemic After school tests were cancelled because of Covid-19, the UK created an algorithm meant to stop grade inflation by standardising teachers’ assessed grades. For thousands, it was a disaster, marking down students’ grades and sparking a political firestorm. Are governments ready to rely on automated decision making tools? (FT)
Shell case puts spotlight on cleaner fuels Shell is in a legal fight in The Hague that some believe could force oil and gas companies to accelerate a shift away from fossil fuels and push other companies to reassess their carbon footprint. If successful, the legal action could redraw the business models and plans of corporate polluters. (FT)
Does Canary Wharf have a future? Before the November Covid-19 lockdown, up to a fifth of the 120,000 employees who work in the east London office district were travelling in each day. Now, the area is desolate again. As the pandemic threatens to permanently loosen employees’ bonds with their workplace, Canary Wharf is facing a critical test. (FT)
Jennifer Robinson’s Lunch with the FT As Julian Assange’s longest-serving lawyer, Ms Robinson has watched as the WikiLeaks founder, once feted as the future of investigative journalism, has made powerful enemies around the world. She insists that Mr Assange has been misunderstood. (FT)
How to supercharge your immune system Bioresilience, molecular wellness and laser therapy are all key themes in the pioneering world of preventative health. “An optical fibre shoots light into my vein — it’s like a tiny lightsabre in my arm,” writes Rebecca Newman. (FT)
Never-ending Brexit negotiations FT contributing editor David Allen Green takes us on a tour of the post-Brexit EU-UK trade agreement. (FT)