Bloomberg Hillary Clinton and the Democratic Party brushed off Donald Trump’s amended lawsuit accusing them of conspiring to undermine his presidency with claims of Russian collusion as a “swollen” political manifesto devoid of facts. The revised suit “alleges a series of disconnected political disputes” that Trump has “alchemized into a sweeping conspiracy” by his foes, according to a motion ...

Bloomberg Group of 20 finance chiefs started official meetings in Bali Friday with an eye towards progress on food security and debt issues as tensions over Russia impeded prospects for a more sweeping agreement. Host Indonesia is pushing for G-20 members to pledge more concrete action to respond to food insecurity, including by sharing data on commodity stockpiles, and for ...

Bloomberg With Italy on the brink of chaos, Mario Draghi has less than a week to forge some difficult compromises with the populists in his government that have reluctantly backed him for the past 18 months. The prime minister’s decision to offer his resignation plunged the euro area’s third-largest economy in a paralyzing political crisis that may end with snap ...

  Bloomberg Russian President Vladimir Putin reassigned the top official responsible for military production as the Kremlin digs in for a long war in Ukraine that’s tested an industry long plagued by inefficiency and corruption. Putin released Yury Borisov as deputy prime minister overseeing the defense industry and appointed him as general director of Roscomos in place of Dmitry Rogozin, ...

  Bloomberg Morgan Stanley’s revenue from investment banking plummeted as capital markets seized up, underlining a slow quarter for Wall Street as a dour outlook for the economy muddles the path forward. The firm’s investment-banking group posted $1.07 billion in revenue, down 55% from a year earlier, a bigger decline than the 47% drop analysts had predicted. The bank also ...

  Bloomberg The Bank of Korea (BOK) doubled the margin of its latest rate increase and promised more hikes to come, as it stepped up its battle against inflation now running at a 23-year high. The central bank joined a global wave of larger rate increases by pushing up its seven-day repurchase rate by a half-percentage point to 2.25% as ...

  Bloomberg Argentina’s central bank is in talks with private lenders about adding a put option to its local bonds that would compel the monetary authority to buy back the notes if prices fall too far. Technical staff from private banks met with the central bank’s general manager, Agustin Torcassi, to discuss the possibility, according to people with direct knowledge ...

  Bloomberg The money manager behind a Russia-focused ETF that collapsed after the country invaded Ukraine is warning that bank fees are “significantly eroding” what little of the fund’s value remains. VanEck said Citigroup Inc, JPMorgan Chase & Co. and Bank of New York Mellon are charging fees on Russian depository receipts that its Russia ETF (ticker RSX) primarily holds, ...

  Bloomberg JPMorgan Chase & Co reported credit costs of $1.1 billion, with Chief Executive Officer Jamie Dimon describing mounting economic uncertainty even as he emphasized the bank is prepared for “whatever happens.” The $1.1 billion in provisions for credit losses included a $428 million build in reserves for loans that go sour and $657 million in net charge-offs, the ...

  Bloomberg Liquidity in China’s interbank market is more than “reasonably ample,” a senior central bank official said, an indication that further interest rate cuts are unlikely. The 7-day reverse repurchase rate is around 1.6%, lower than the cost of short-term policy loans the People’s Bank of China (PBOC) provides via its daily open market operations, Zou Lan, the head ...