Joe Biden will move to swiftly reverse some of Donald Trump’s most contentious policies with a number of executive actions in the 10 days following his inauguration on Wednesday.
The incoming president will focus his inaugural address on a message of unity and the need to quickly implement policies to address the significant crises the US is facing, according to his chief of staff.
Ron Klain said over the weekend that the first actions of the new president will be to focus on tackling the pandemic and economic recovery, the climate crisis, and the problem of racial inequity.
He said Mr Biden will also rescind the Muslim travel ban that Mr Trump installed four years ago and propose legislation to provide a path to citizenship for the 11m immigrants who are living illegally in the country.
Washington is preparing for the most unorthodox inauguration in modern US history — with Mr Trump facing a Senate impeachment trial and the pandemic forcing a scaled-back event. (FT)
Putin critic Navalny detained on his return to Russia Opposition activist Alexei Navalny was detained by police on Sunday evening as he landed in Russia, having returned from Germany where he had recovered from an assassination attempt blamed on the Kremlin. (FT)
HSBC chief wrote to Hong Kong activist Noel Quinn, HSBC chief executive, personally wrote to Hong Kong pro-democracy activist Ted Hui following the freezing of his bank account, to say the bank was legally obliged to take the action it took last month. (FT)
Arm China chief makes $179m Allen Wu, the head of Arm’s China business, has made a Rmb1.2bn ($179m) gain on a personal investment he made in one of the chip designer’s Chinese clients, after falling out with Arm over alleged conflicts of interest. (FT)
UK lawyer prosecuting HK activists called a ‘mercenary’ A British lawyer who is prosecuting a case against pro-democracy activists in Hong Kong has been labelled a “mercenary” by Dominic Raab, the UK’s foreign secretary, as controversy over his appointment grows. David Perry QC was hired by the authorities to prosecute nine activists for unlawful assembly in a trial that begins on February 16. (FT)
ECB threatens banks with capital ‘add-ons’ The European Central Bank is threatening to impose additional capital requirements on banks that continue to ignore requests to rein in risk in the booming leveraged loan market. A senior eurozone central banker said the issue would be raised as a key concern in the ECB’s next financial stability review in May. (FT)
Chip shortage forces Audi to halt production at some plants Audi will delay the production of some of its high-end cars because of the “massive” shortage of computer chips that is sweeping across the automotive industry, its chief executive said. (FT)
Armin Laschet wins CDU leadership election The prime minister of the German state of North Rhine-Westphalia has been elected leader of the governing Christian Democratic Union. His victory puts him in pole position to succeed Angela Merkel as chancellor of Europe’s most powerful economy after September elections to the Bundestag. Here’s a profile of the man long considered the “nearly man” of German politics. (FT)
Trump ally targeted by activist group leaves Duke board Dan DiMicco, who served as a trade adviser to Donald Trump’s 2016 presidential campaign and publicly supported attempts to challenge the 2020 election result, is stepping down from the board of Duke Energy, a North Carolina-based utility. (FT)
Guatemala launches crackdown on US-bound migrant caravan Guatemalan security forces clashed with thousands of mostly Honduran migrants on Sunday as they tried to halt the largest caravan in years from reaching the US, where they would present an immediate test for Joe Biden’s immigration policy. (FT)
Benjamin de Rothschild dies of heart attack at 57 Benjamin de Rothschild, chairman of the holding company for the Franco-Swiss private bank and asset manager Edmond de Rothschild, has died of a heart attack at the age of 57, the group announced on Saturday. (FT)
China reports fourth-quarter GDP China’s latest economic output data will probably present Xi Jinping’s administration with another opportunity to trumpet the country’s rapid recovery from the coronavirus pandemic. Macquarie bank economist Larry Hu is expecting growth of 6.1 per cent. Here are five things to watch. (FT)
Italian politics Prime minister Giuseppe Conte, facing a parliamentary vote on his future on Tuesday, will address the lower house of parliament today. Last week the small Italia Viva party, run by former prime minister Matteo Renzi, quit the governing coalition and put the future of Mr Conte in doubt. (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.
Wall Street’s new sheriff is on a mission Joe Biden is expected to pick Gary Gensler to run the Securities and Exchange Commission, the most important market regulator for America but also, arguably, for the wider world. The good news is that Mr Gensler is exactly the right man for the job because he’s a “born-again” regulator, says Rana Foroohar. (FT)
Why the ECB should go Japanese Amid its pandemic firefighting, the European Central Bank is ploughing on with a strategic review of its monetary policy framework. One idea being explored, writes Martin Sandbu, is “yield curve control”, or the policy of directly setting long-term interest rates, a policy the Bank of Japan has been committed to since 2016. (FT)
Big Meat: facing up to the demands for sustainability In less than two decades the spectre of environmental damage has thrown a spotlight on the meat industry, attention that the world’s leading meat producers were ill-prepared for. (FT)
Hong Kong diary: locked down in luxury The 350 sq ft hotel room where I would spend my quarantine was made better by the relief of being spared a government-controlled camp. The door closed behind me and I thought of the wide open window of the taxi — it would be the last time I felt fresh air on my face for weeks, writes Tabby Kinder, the FT’s Asia financial correspondent. (FT)
Vaccines won’t get us back in the office any time soon There is nothing new about vaccine hesitancy, Pilita Clark writes. But it poses a number of employment dilemmas as governments struggle to end a global pandemic. “We’ve never had to consider these sorts of things in modern legal history,” says one London lawyer.
Voices of the Arab spring on what happened next Activists and revolutionaries reflect with Middle East Editor Andrew England on their struggles for reform in the countries they fought to free. “We felt so empowered that we believed we would be able to deal with anything that came next,” says one activist. (FT)
‘Trump is the most dangerous man to ever hold the office’ Six years after Sarah Cooper quit her tech job to concentrate on comedy, doing stand-up, online sketches, blog posts and books, her future felt unclear. Then Donald Trump changed her life. (FT)
Why the renminbi cannot rival the dollar yet America enjoys an exorbitant privilege from the dollar's position as the world's reserve currency and China would like its currency to have the same status. FT Asia markets correspondent Hudson Lockett explains what China needs to do to make that happen. (FT)