SQUAWK BOX, MONDAY 17TH JANUARY 2022

From politics to sports to banking giants, Covid rule breaches threaten the positions of the powerful. Credit Suisse chairman António Horta-Osório is forced to resign after breaching restrictions in Switzerland on several occasions. Former UBS Group COO Axel Lehmann has been named his successor. In M&A news, Unilever’s £50bn offer for GSK’s consumer unit is slapped down. However, GSK has assured investors it remains committed to spinning off the business. Meanwhile, Chinese GDP grew by 8 per cent in 2021 but expansion has decelerated to an 18-month low. The PBOC has cut a key loan rate in an attempt to aid economic activity. And UK Prime Minister Boris Johnson faces more pressure ahead of the ‘Partygate’ investigation report. Opposition Labour leader Keir Starmer says the lockdown rule-breaking at No. 10 and other ministries means Johnson has “lost the moral authority to lead” and needs to resign.