Biden backs $900B compromise coronavirus stimulus bill [The Hill]
“That would be a good start. It’s not enough,” Biden said during a Thursday interview…. “I think it should be passed,” Biden continued. “I’m going to ask for more … when we get there to get things done….”
Trump also signaled Thursday that he would sign a coronavirus relief deal if Congress could pass one by year’s end.
U.S. in Talks With Huawei Finance Chief Meng Wanzhou About Resolving Criminal Charges [WSJ]
Ms. Meng’s lawyers and Justice Department officials are working to determine whether there are terms that both sides can agree to, two of the people said. Ms. Meng recently declined to approve a draft agreement because she didn’t agree with the way her communications with some of Huawei’s financial institutions were described…. In May, a British Columbia judge ruled the U.S. had met a key test to extradite her, but additional hearings are expected to continue later this month and through next year. She is currently on bail and must wear an ankle monitor.
Christopher Waller confirmed as Federal Reserve governor; Judy Shelton nomination likely dead [CNBC]
Though he had much stronger bipartisan support during his confirmation hearing, Waller’s name passed by a 48-47 vote, with Republican Rand Paul being the sole GOP member to vote against.
At the same time, the seating of Arizona Democrat Mark Kelly, who unseated Republican Sen. Martha McSally, likely sealed Shelton’s fate.
Brian Deese, Veteran of Auto Bailout, Will Lead National Economic Council [NYT]
Mr. Deese, 42, has worked in the policy side of Democratic politics for more than a decade and a half, impressing supervisors and colleagues along the way…. In 2015 Mr. Deese took on the role of senior adviser to Mr. Obama on climate change and energy, helping to drive sweeping regulations cutting emissions from the electricity sector and from vehicle tailpipes as the United States prepared to join the Paris agreement on global warming.
Point72 Quant Consolidation Spurs Matthew Granade’s Departure [Bloomberg]
Granade also heads market intelligence and Point72’s venture arm. His departure comes after Cohen decided to move Fusion -- which functions as a central algorithm that takes investment ideas from quantitative researchers -- to Cubist from its discretionary operation. That decision comes about two months after Denis Dancanet joined Point72 to run Cubist, replacing Ross Garon…. Granade’s role in overseeing market intelligence -- Point72’s push into alternative data -- will be filled by his deputy, Kirk McKeown.
Future of London Finance at Stake in Brexit Fight [WSJ]
The EU last week committed to rules governing derivatives that will prevent London-based traders at EU banks from continuing business seamlessly after Brexit is completed on New Year’s Eve…. The Nov. 25 decision by the EU’s European Securities and Markets Authority effectively prevents the London-based units of EU banks from trading with U.K.-regulated firms unless they transact on venues in another jurisdiction which both sides recognize: the swap execution facilities, or SEFs, of New York….
Based on French bank data, about 70% of trade volumes executed by EU banks in the U.K. are at risk, Robert Ophèle, chairman of France’s financial markets regulator, said.