Jakarta rocked by bomb blasts, cartel fines rise to record levels and the good news about global warming

At least three people have been killed in a series of bomb blasts in the Indonesian capital, Jakarta, with gunfire breaking out afterwards.

According to early reports, more than 10 gunmen were seen in central Jakarta at the time of the attack. The explosions follow a police warning last month that the city could be the target of an Isis-linked plot. (FT)

In the news

Asian stocks hit Markets in Asia were sent reeling after oil price volatility drove Wall Street to its biggest drop in three months. Japan’s Nikkei was down 3.7 per cent after opening losses exceeding 4 per cent, while in Hong Kong the Hang Seng slid 1.7 per cent. (FT)

Cartel fines rise to record levels Antitrust fines in the US and China surged last year to record levels , but could not buoy the rest of the world, which saw global cartel penalties drop. Fines totalled $5.28bn in 2015, a 20 per cent decline from the previous year, according to new research. (FT)

The good news about global warming Scientists blame the man-made phenomenon for intensifying storms, rising sea levels and prolonged droughts. But it may be time to add something to the “pro” column: fossil fuel emissions may have helped delay the next ice age by 100,000 years or more. (Bloomberg)

Market toasts AB InBev’s bond offering The mega-brewer pulled in a record $110bn of demand for an upsized $46bn bond deal, as investors sought the relative safety of high-grade US corporate debt amid a turbulent new year in trading. The deal’s reception, along with other oversubscribed recent offerings, suggests investors are moving away from riskier equities and commodities. (FT)

MH370 search turns up shipwreck Search teams looking for the wreckage of Malaysia Airlines flight MH370 have stumbled across what they believe is a 19th-century shipwreck more than two miles below the waves. The search area is basically unknown territory; before this investigation, scientists knew more about the surface of the moon than the bottom of this stretch of water in the southern Indian Ocean. (BBC)

It's a big day for

Bank of England With oil at a 12-year low, China’s market turmoil spreading and the World Bank cutting its global growth forecasts, policymakers are expected to keep rates at 0.5 per cent in Thursday’s announcement. British households, plagued by record unsecured borrowingand sizeable mortgages, may find themselves vulnerable whenever that rate rise does come. (FT, BBC)

Bank of Korea, which maintained its benchmark rate at a record-low 1.5 per cent for aseventh consecutive month. (FT)

Read our Weekahead section for more upcoming stories

Food for thought

When banker bashing goes too far From avowed socialist Bernie Sanders to Ted Cruz — one of the country’s more conservative politicians — US presidential candidates agree on one thing: they all hate Wall Street . The bipartisan banker bashing is a cause for consternation in the industry and now some bankers are starting to fight back. (WSJ)

Japan’s deflated generation The current generation of 20-somethings is the first to have lived its entire life with the economy in a broad state of deflation . They think small. They trust only with caution. They see the future as a string of cash-draining emergencies. Economic factors have stripped away the incentives for them to leave home, buy cars, marry, have children, take risks and generally grow up, experts say (FT).

The things left behind in hotel rooms Travelodge, a British hotel chain, recently released its annual list of some of the more bizarre items forgotten by guests — and the inventory is sure to raise a few eyebrows. Top of the list includes a Shetland pony called Pudding, a Swarovski encrusted wedding cake and a house made of bread. (The Economist)

The world’s ‘most wanted’ shirt Al Capone had his overcoat and Pablo Escobar a white blazer and tie. Joaquin “El Chapo” Guzmán, head of the infamous Sinaloa drug cartel, has a style inspired by Eleanor Roosevelt and Coco Chanel, and designed by two brothers from Los Angeles. Now the siblings’ business is booming, with shoppers scrambling to buy the “most wanted shirt.” (The Guardian)

Iggy Pop on David Bowie The Detroit rocker remembers the man he calls his own personal Henry Higgins. “The friendship was basically that this guy salvaged me from certain professional and maybe personal annihilation — simple as that.” (NYT)

Video of the day

Martin Wolf on China upheaval Martin Wolf, the FT’s chief economics commentator, provides his assessment of China’s market turmoil this year, the policy response to it and his outlook for the country’s economy. (FT)