Trump Fires Opponent | Argentina Trade Surplus | Indonesia Fines Google

Market Update

• MicroStrategy acquired some 11,000 Bitcoins for about $1.1B in cash between Jan 13 and Jan 20.

• Trump suspends US TikTok ban for 75 days with executive order, but legal and market uncertainty remain.

• UK wage growth hits six-month high ahead of crunch Bank Of England meeting.

• Trump tariff threats widen gap between US, Canada oil stocks.

• Trump’s pledge to slap 25% tariffs on Mexico sinks peso.

• Bitcoin rally cools as Trump makes no new mention of crypto.

• Climate shift to help boost StanChart income by almost $1 billion.

Trump starts firing opponents after executive order blitz

Executive Orders: Trump signed a series of executive orders on his first day back in office, targeting immigration, public health, and climate policy.

Firing Opponents: Trump announced plans to remove over 1,000 opponents from the US government, starting with four individuals, including retired general Mark Milley.

Pardons: Trump pardoned nearly 1,600 people connected to the January 6 Capitol riot.

Inauguration Ceremony: The inauguration was held indoors due to bad weather, with major tycoons like Elon Musk and Jeff Bezos in attendance. [Learn more]

Argentina marks record trade surplus at nearly $19 bln in Milei's first year as president

Record Trade Surplus: Argentina posted a record $18.9 billion trade surplus in 2024, the highest in two decades.

Economic Policies: President Javier Milei's policies, including boosting grains and energy exports and slashing public spending, contributed to the surplus.

Export Growth: Exports rose by 20% in 2024, driven by agricultural and industrial manufactured goods.

Import Reduction: Imports decreased by 17.5% from 2023, mainly due to a deep recession and cost-cutting measures. [Learn more]

Indonesia fines Google $12 million for unfair business practices

Fine Imposed: Indonesia has fined Google $12 million (around 202 billion rupiah) for unfair business practices.

Anticompetitive Behavior: The fine comes after an investigation revealed that Google abused its dominant market position by requiring Indonesian app developers to use Google Pay Billing at higher rates than other payment systems.

Impact on Developers: Google's practices reduced developers' earnings by charging up to 30% in fees and threatening to remove apps from the Google Play Store.

Market Share: Google controls a 93% market share in Indonesia, a country with a rapidly growing digital economy. [Learn more]

Trivia of the Day!

Did you know that honey never spoils? Archaeologists have discovered pots of honey in ancient Egyptian tombs that are over 3,000 years old and still perfectly edible! 🍯

Generative AI Photo of the Day!