Bloomberg Trust firms that have issued at least $5 billion in high-yield products linked to China Evergrande Group are bracing for a cascade of losses after the cash-strapped developer said it may no longer be able to meet its financial obligations. At least three firms, including Citic Trust Co, China Foreign Economy and Trade Trust Co and National Trust, notified ...

Bloomberg Myanmar’s military regime reduced Aung San Suu Kyi’s jail term to two years after a special court found her guilty in her first trial since her ouster in a February coup and sentenced her to four years in prison, according to a statement on the state broadcaster MRTV. Suu Kyi will serve her sentence at her current location thus ...

Bloomberg South Africa’s chief prosecutor cautioned that arrests following a three-year judicial inquiry into state corruption will take time, as she announced plans to recruit a replacement for her top investigator who quit last week. A panel led by Acting Chief Justice Raymond Zondo is due to complete its graft probe this month, and it will fall to National Director ...

Bloomberg Olaf Scholz cleared the final hurdle on his path to becoming German chancellor when Green Party members overwhelmingly approved the coalition deal with his Social Democrats and the Free Democrats. The Greens said that 86% of some 71,000 members who voted backed the accord, which includes an ambitious climate agenda and plans to upgrade Germany’s technology infrastructure. The SPD ...

Bloomberg UK Prime Minister Boris Johnson won a court ruling over the way he dealt with allegations of bullying made against his Home Secretary Priti Patel. Johnson, the ultimate “arbiter” of the rules governing the behaviour of senior officials, didn’t “misdirect himself,” judges ruled in London. The claim was brought by the FDA trade union, which represents the most senior ...

Bloomberg The US Embassy in Tokyo issued a warning about foreigners being stopped and searched by Japanese police in what it said were suspected to be “racial profiling incidents.” The unusual move by the embassy of Tokyo’s only formal ally came after Japan closed its borders to new entries by foreigners amid concern over the omicron variant, just weeks after ...

Bloomberg The Bank of England (BOE) is preparing to halt its almost 900 billion-pound ($1.2 trillion) quantitative easing program, leaving the future of what has become a controversial crisis-fighting tool shrouded in doubt. More than decade after buying the first government security as part of an initial 75-billion pound, three-month plan during the global financial crisis, the BOE will next ...

Bloomberg Vietnam’s central bank bought about $25 billion worth of US dollars over the past two years, according to a deputy governor. The move helped inject the Vietnamese dong into the banking system and boost the economy, Pham Thanh Ha told an economic forum in Hanoi. The US Treasury last week announced that Vietnam met all the criteria again of ...

Bloomberg Paul Pester, former chief executive officer of TSB Bank Plc, is preparing to launch a social network for digital payments, according to Sky News. Loop, as the startup is called, raised a seed round of investment and plans to bring in more money next year, according to the report. Pester’s partners on the project are Anthony Thomson, the founder ...

Bloomberg Shorter-maturity Indian bonds are poised to extend losses amid growing expectations the central bank will accelerate its policy normalisation as the economic revival gains traction. Rates on notes with maturities of up to two years climbed in recent weeks as the central bank expanded its efforts to remove excess liquidity from the banking system, with the one-year bill yield ...