Tokyo Games organizers reportedly estimate Covid countermeasures to cost $960 million

Foreign Investment in U.K. Finance Set to Drop on Covid, Brexit

Big financial services firms are set to avoid investing in British businesses next year, discouraged by the uncertainties of Brexit and the Covid-19 pandemic.

Only 10% of of global financial services firms are planning to establish or expand operations in the U.K. in the coming year, down from 45% in April, according to a report by consultancy EY published Monday.

“U.K. financial services entered the pandemic in a very strong position, having led the rest of Europe in attracting overseas investment over the past 20 years,” said Omar Ali, U.K. financial services managing partner at EY.

The decline in appetite suggests the sector’s absence from theEuropean Union trade talks “may have started to affect investor sentiment,” Ali said, while Covid-19 has made government support and infrastructure more important for those looking to invest.

The poll of 220 decision-makers painted a rosier picture in the medium term, with 53% expecting the U.K. to be more attractive for foreign direct investment in three years’ time.

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China says official manufacturing PMI for November is 52.1 — beating expectations

  • China said on Monday that manufacturing activity expanded for the ninth straight month in November.
  • The official manufacturing Purchasing Managers' Index (PMI) for this month came in at 52.1, according to the National Bureau of Statistics.
  • That's better than the 51.5 forecast by analysts in a Reuters poll and October's official reading of 51.4.

China said on Monday that manufacturing activity expanded for the ninth straight month in November as the world's second-largest economy continues to recover from a slump caused by the coronavirus pandemic.

The official manufacturing Purchasing Managers' Index (PMI) for November came in at 52.1, according to the National Bureau of Statistics. That's better than the 51.5 forecast by analysts in a Reuters poll and October's official reading of 51.4.

PMI readings above 50 indicate expansion, while those below that signal contraction. PMI readings are sequential and show month-on-month expansion or contraction.

China, where cases of Covid-19 were first detected, is among the few economies expected to continue growing this year — but at a much slow pace. The International Monetary Fund has forecast the Chinese economy to expand by 1.9% in 2020, slowing from the 6.1% last year.

This is breaking news. Please check back for updates.

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Biden will likely require walking boot for several weeks after fracturing foot

  • Biden slipped and twisted his ankle while playing with his dog Major on Saturday.
  • A CT scan revealed small hairline fractures in his mid-foot, according to his doctor.
  • Biden, 78, will be the oldest person ever to hold office as U.S. president.

President-elect Joe Biden will likely have to wear a walking boot for several weeks after suffering small fractures in his foot, his physician said on Sunday.

Biden slipped and twisted his ankle while playing with his dog Major on Saturday. The president-elect sprained his right foot and initial x-rays did not show any obvious fracture, Dr. Kevin O'Connor said. However, more detailed imaging also revealed hairline fractures in his mid-foot.

"Initial x-rays did not show any obvious fracture, but his clinical exam warranted more detailed imaging," O'Connor said. "Follow-up CT scan confirmed hairline (small) fractures of President-elect Biden's lateral and intermediate cuneiform bones, which are in the mid-foot. "

"It is anticipated that he will likely require a walking boot for several weeks," the doctor said.

Biden, 78, will be the oldest person ever to hold office as U.S. president.

Outgoing President Donald Trump wished Biden well on Twitter.

Live Updates: Biden to receive first presidential daily briefing

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President-elect Joe Biden on Monday will receive his first presidential daily briefing – a report that will contain information from the nation’s intelligence agencies.

The news was confirmed by Jen Psaki, Biden’s transition spokeswoman soon to be his White House Press Secretary. It follows the White House’s go-ahead earlier in the week for Biden to begin receiving the President’s Daily Brief (PDB).

Biden's doctor on Sunday said that the president-elect had sustained a sprain of his right foot after twisting his ankle while playing with his dog, Major. 

President Donald Trump later tweeted his best wishes for Biden's speedy recovery: "Get well soon!" 

Tokyo Games organizers reportedly estimate Covid countermeasures to cost $960 million

  • Tokyo Games organizers estimate the cost of Covid-19 countermeasures for next year's rearranged Olympics will run to around 100 billion yen ($960 million), Kyodo News reported on Monday.
  • Japanese media had reported a day earlier that the total costs of delaying the Games for a year would run to 200 billion yen.

Tokyo Games organizers estimate the cost of Covid-19 countermeasures for next year's rearranged
Olympics will run to around 100 billion yen ($960 million), Kyodo News reported on Monday.

Japanese media had reported a day earlier that the total costs of delaying the Games for a year would run to 200 billion yen.

When asked to comment on the Kyodo report, a spokesman for organizers told Reuters an announcement would be made on an interim report following talks between Tokyo 2020, Tokyo metropolitan government and the Japanese government on Wednesday.

The last official budget given by the organizing committee in December 2019, months before the Games were postponed due to the Covid-19 pandemic, was $12.6 billion.

The International Olympic Committee has said they expect to pay $800 million in additional costs from the delay but Japan-based organizers have not provided a specific figure.

The Tokyo 2020 organizing committee is expected to officially announce an adjusted budget before the end of the year.