Financial Daily Dose 1.21.2020 | Top Story: World Economic Forum Kicks Off in Davos

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As it kicked off its 50th annual gathering today, the World Economic Forum in Davos is facing some hard questions—both about the state of the ideals it has long espoused (“open borders, liberal democracy and free borders,” to name a few) and about the uber-elite gathering itself – NYTimes

Here’s what’s on the agenda other than soul-searching – Bloomberg and NYTimes and WSJ and MarketWatch

Huawei CFO and scion Meng Wanzhou began extradition hearings yesterday after 13 months of house arrest in Vancouver. The hearing “will examine whether the crime Ms. Meng is accused of”—fraud, for allegedly deceiving 4 banks into clearing transactions in Iran through a subsidiary—“constitutes a crime in Canada, a prerequisite under Canadian law for her extradition to proceed” – NYTimes and NPR and ThePost and WSJ

Jeff Bezos’ Washington Post ownership stake is complicating his well-publicized recent Amazon charm offensive in India, with senior Indian government officials criticizing the Post’s “coverage of the country during a visit by Mr. Bezos” that they claim has been “unfairly biased against the government” – NYTimes [and Bloomberg]

A newly optimistic IMF is predicting a rebound for the global economy in the coming year, with “aggressive monetary-policy easing” and a freshly signed Phase One deal between the U.S. and China buoying expectations – WSJ

Not that everyone agrees with that sunnier outlook – Bloomberg

Outwardly, all’s more than good for Tesla as its market cap surged past $90 billion in recent days. Behind the scenes, investors have major disagreements about the true value of Elon Musk’s electric car company – WSJ

Fed supervision czar Randall Quarles has made transparency his 2020 resolution, and he hopes to stick to it through a “series of proposals including creating an online database of old rule interpretations and reining in examiners’ use of regulatory warnings”—all in an effort to “bring more clarity and predictability to the agency’s oversight of banks” – Law360

Boeing is close to wrapping a deal with a group led by Citibank that would deliver $10 billion to the embattled planemaker – Bloomberg

The literal tinfoil hat crew are looking for a cool $5 billion. No joke – MarketWatch

We’ll be keeping a close eye on the ECB this week, where new President Christine Lagard “is poised to make her mark . . . with the institution’s biggest-ever strategy review” this year that will question the bank’s inflation goal and “address topics for the new decade including inequality, technology and climate change” – Bloomberg

On Friday, SDNY Judge Victor Marrero let former RBC Capital Markets analyst Bill Tsai avoid prison for his insider-insider trading conviction, “crediting his quick guilty plea and remorse.” Marrero gave Tsai 4 years of probation instead and forced him to cough up the $126k he made from the scheme – Law360

Streetwise on BlackRock’s big announcement last week that it will begin pushing clients “toward environmental, social and governance investing”—less on the policy change itself and more on the power that Fink and his big-three index fund brethren (including Vanguard and State Street) wield over corporate America – WSJ

Because why not a little dystopian nightmare on a Tuesday morning, right? Meet Clearview AI, the company behind a “groundbreaking facial recognition app” that has scraped some 3 billion images from social media and other websites in order to help “readily identif[y] everyone” – NYTimes

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