Business Matters

Andrew Peach discusses the announcement that Gary Gensler plans to step down as chair of the US Securities and Exchange Commission when Donald Trump takes office as president on January 20. Gensler is known to be a sceptic of crypto currencies unlike the incoming President who received heavy backing from the crypto community during the election. Beijing offers help to Chinese exporters who are facing higher import tariffs in many of their key markets. The IG Metall trade union in Germany announces that it will urge workers at Volkswagen to go on strike from December. VW is threatening to shut some of its German factories for the first time in its history. And Swedish battery maker Northvolt has entered Chapter 11 bankruptcy in the USA.