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Photo: Laurel Chor/Getty Images

Activity in Hong Kong was on pause Saturday after a ban on face masks, used by protestors to conceal their identities from the government, prompted violent protests Friday, reports Bloomberg.

What's happening: Businesses, banks and rail services closed for the first time in nearly 20 years, per Bloomberg. Protesters came out on Saturday, but in smaller numbers due to the shutdown trains, reports AP. This is the 18th weekend of protests in Hong Kong.

  • A plain-clothes officer claims to have fired shots at protesters in self-defense Friday around 9 pm.
  • A 14-year-old boy was admitted to a hospital Friday evening, and the police senior superintendent believes the incidents are related.
  • Other protesters vandalized businesses linked to mainland-China and burned at least one train, notes Bloomberg.

What they're saying:

  • Lam said Friday's chaos left Hong Kong "semi-paralyzed," according to AP.
  • Some peaceful protesters say the violence has become a "means to an end, the only way for young masked protesters to force the government to bend to clamors for full democracy and other demands," writes AP.

Go deeper... China's split-screen: Hong Kong protests vs. Communist celebration

Go deeper

Updated 2 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus deaths reach 4,000 per day as hospitals remain in crisis mode — America has tuned out the coronavirus at the peak of its destruction — 1 in 3 people in L.A. County believed to have been infected with coronavirus.
  2. Politics: Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan— Widow of GOP congressman-elect who died of COVID-19 will run to fill his seat — Joe Biden will seek nearly $2 trillion in COVID relief spending.
  3. Vaccine: Battling Black mistrust of the vaccines"Pharmacy deserts" could become vaccine deserts — Instacart to give $25 to shoppers who get vaccine.
  4. Economy: Unemployment filings explode againFed chair: No interest rate hike coming any time soon —  Inflation rose more than expected in December.
  5. World: WHO team arrives in China to investigate pandemic origins.
Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

Trump blocks banks from limiting loans to gun and oil companies

Illustration: Sarah Grillo/Axios

Big banks are no longer allowed to reject business loan applicants because of the industry in which they operate, according to a new rule finalized on Thursday by the Trump administration.

Why it matters: Wall Street has curtailed its exposure to industries like guns, oil and private prisons, driven by both public and shareholder pressures. This new rule could reverse that trend.

Former FDA commissioner: "Reliable drug supply is absolutely critical"

Axios' Caitlin Owens and former FDA commissioner Mark McClellan. Photo courtesy of Axios Events

Having a reliable supply of pharmaceutical drugs throughout America will be "absolutely critical" to boosting affordability in health care during the Biden administration, former Food and Drug Administration (FDA) commissioner Mark McClellan said at a virtual Axios Event on Friday.

The big picture: McClellan, who served under President George W. Bush, says drugs having limited supply and limited competition leads to elevated pricing. He considers drug supply to be a national security and public health issue.