Bloomberg - Evening Briefing - ‘I smell a rat’

The Congressional committee probing the Jan. 6 attack on the US Capitol and other events tied to an alleged coup attempt by Donald Trump has a new thread to pull. With a final public hearing set for tonight in primetime addressing Trump’s failure to stop the violence, the bipartisan panel is turning to whether the Department of Homeland Security and the Secret Service have been stonewalling the probe while destroying critical evidence known to be sought by the committee. Democratic Representative Jamie Raskin of Maryland called it suspicious that the Secret Service would delete text messages from the first American insurrection since the Civil War, saying “I smell a rat.” —David E. Rovella

Bloomberg is tracking the coronavirus pandemic and the progress of global vaccination efforts.

US President Joe Biden tested positive for Covid-19 on Thursday, and is experiencing mild symptoms, the White House said. He is to isolate there while continuing his duties until he tests negative. The latest variant, the most transmissible yet and able to evade protection conferred by earlier infections and (to a lesser extent) booster shots, is racing across the globe and driving up caseloads, as well as hospitalizations and deaths in some places.

The European Central Bank raised its key interest rate by 50 basis points, the first increase in 11 years and the biggest since 2000 as it confronts surging inflation.

Shanghai-based Semiconductor Manufacturing International has likely advanced its production technology by two generations, defying US sanctions intended to halt the rise of China’s largest chipmaker. It’s reportedly shipping Bitcoin-mining semiconductors built using 7-nanometer technology. That’s well ahead of its established 14nm technology.

Semiconductor Manufacturing International’s headquarters in Shanghai Photographer: Qilai Shen/Bloomberg

Russia began sending natural gas to Europe through the Nord Stream pipeline system after a pause, bringing relief to a continent whose economy is starting to wobble under the strain of reduced supplies. But Europe may have gotten the message from a Kremlin seemingly intent on inflicting economic pain in retaliation for sanctions over its bloody war on Ukraine. Even though gas is flowing again, said German Foreign Minister Annalena Baerbock, “energy dependency is being used as a weapon.”

Vladimir Putin is racing to proclaim occupied Ukrainian territories part of Russia. US and UK officials claim Russia has lost 15,000 soldiers or more so far in its war, and is only gaining ground at a snail’s pace and may be about to run “out of steam.” Plus, Ukrainian forces are claiming some victories—purportedly destroying ammunition dumps with advanced systems and retaking ground ahead of an expected southern counteroffensive.

US unemployment claims rose for a third week to the highest since November as more companies announce job cuts, suggesting softening in the labor market. As the Fed continues to fight stubborn inflation, with another big rate hike in the offing, any hiring slowdown and a resulting downward pressure on wages could be helpful to the central bank’s effort. 

Amazon announced it would buy primary-care company One Medical for $18 a share, the latest move by the e-commerce giant to muscle into the healthcare market. The all-cash transaction has an equity value of $3.49 billion. In recent years, the retail giant built by Jeff Bezos has launched an online drug store, following its acquisition of mail-order pharmacy PillPack, and started a primary-care clinic for its employees and some other companies.

• The world’s frothiest housing market signals a global warning.
• Ex-Coinbase manager arrested in US crypto insider-trading case.
• Musk lieutenant scrutinized in internal Tesla purchasing probe.
• Covid supply chain chaos is just a dress rehearsal for what’s coming.
• Bloomberg Opinion: The solution to US border woes is no secret.
• Mushrooms as medicine? Supplement entrepreneurs say trust us.
• Those spam robocalls about your auto warranty are coming to an end.

The US television series “The Loudest Voice” about Roger Ailes, the Republican media consultant behind Rupert Murdoch’s right wing media company, found an avid viewer in France: billionaire Vincent Bollore. Now Bollore has taken his own CNews TV channel sharply to the right, earning him a nickname: the “French Murdoch.’’ 

Vincent Bollore arrives for a hearing before a parliamentary enquiry committee on media concentration, at the French Senate in Paris on Jan. 19.   Photographer: Thomas Samson/AFP

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