Biden’s Trump Lesson, 4-Day Week, SNB Digital Currency: Eco Day

Happy Friday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend.

  • President-elect Joe Biden will have little alternative but to focus on a deal with Congress to enact more economic stimulus early next year, despite hopes he can press ahead with executive actions
  • Spain’s government is analyzing shortening working hours as well as cutting the working-week to four days
  • The Swiss National Bank and partners said they successfully conducted experiments to push forward understanding of how digital currencies could work within the country’s financial system
  • OPEC+ agreed to ease oil-output cuts after almost a week of fraught negotiations that exposed a new rift at the heart of the cartel
  • U.S. employment gains probably slowed only modestly despite a record surge of coronavirus cases that still threatens to limit or even reverse hiring ahead. November hiring probably just escaped the brunt of Covid shutdowns, writes Carl Riccadonna
  • A bipartisan stimulus proposal endorsed by Democratic leaders as a basis for negotiations is luring increased interest from Republicans
  • Thailand’s largest industrial estate developer expects sales to rebound with a likely easing of travel restrictions and strong demand for land from companies seeking to relocate factories from China
  • Indonesia’s central bank pledged to keep an accommodative stance and use all its policy instruments to spur a recovery, as the economy is set to experience a deeper-than-expected contraction this year
  • The desire to work from home post-pandemic is fading among European employees as they tire of the prolonged break from offices
  • President-elect Joe Biden announced he has selected Brian Deese, a BlackRock Inc. executive, to lead his National Economic Council
  • Stephanie Flanders and Lucy Meakin pull back the curtain on the era of Bidenomics in their weekly Podcast
  • All new vehicles sold in Japan by the mid-2030s will be hybrid or electric as the government begins to unveil concrete steps for reaching its goal of becoming carbon neutral by 2050
  • For decades, Singapore’s Kwek dynasty avoided drama as it built Hong Leong Group into one of the world’s most influential conglomerates. But now a rare moment of public discord is fueling concerns the close-knit clan will become distracted at a critical time

©2020 Bloomberg L.P.

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