Bloomberg Somalia’s leader said he’s prepared to hold elections, after a controversial plan to extend his mandate without a vote drew international condemnation and stoked violence in the Horn of Africa nation. President Mohamed Abdullahi, also known as Farmajo, called for urgent talks on the return to a September 17 agreement between the federal and regional governments to hold an ...

Bloomberg Finland’s ruling coalition came to an agreement on spending plans, averting a collapse of the Nordic nation’s Social Democrat-led government by a thin margin. The five-party cabinet patched up its differences, forging a common vision of how Finland’s recovery from the pandemic should take place, PM Sanna Marin said. The broad outlines of the deal are now agreed, and ...

Bloomberg For months, developed economies have hoarded Covid-19 vaccines and the raw materials needed to make them. Now, they’re being forced to act as an explosive outbreak in India raises the risk of new virus mutations that could threaten the wider world. Under mounting criticism for dominating vaccine resources, the US said that it will help India by sending items ...

Bloomberg French President Emmanuel Macron’s government was expected to unveil a new anti-terrorism draft bill on Wednesday, just days after the fatal stabbing of a police officer by an extremist. The bill aims to identify suspects before they carry out an attack, and will turn temporary measures into permanent ones. That could include extending a collaboration with telecom companies to ...

Bloomberg Bulgaria is probing several explosions at arms warehouses for potential links to an investigation into a deadly munition blast in the Czech Republic that sparked a recent diplomatic feud with Russia. Prosecutors are investigating six unnamed Russian citizens, whose presence in Bulgaria between 2011 and 2020 coincided with the blasts, Siyka Mileva, the spokeswoman for the country’s chief prosecutor, ...

Bloomberg It’s through their loan books and investment portfolios that banks and asset managers make their biggest contribution to climate change. The greenhouse gas emissions associated with financial institutions’ investing, lending and underwriting activities are more than 700 times higher, on average, than their direct emissions, according to a report published on Wednesday by climate nonprofit CDP. While banks generate ...

Bloomberg Deutsche Bank AG is working on plans to allow staff to work from home up to three days a week, as it considers one of the most flexible return-to-office policies among large international banks. The Frankfurt-based lender is “moving to provide our employees some additional flexibility in hybrid working models,” Chief Financial Officer James von Moltke said in an ...

Bloomberg Banco Santander SA delivered its highest adjusted profit in more than a decade as provisions for loan losses fell and its US unit rebounded, bolstering Chairman Ana Botin’s bid to restore gains eroded during the pandemic. The bank’s net income more than quadrupled, topping analyst estimates, as provisions fell by almost half. Underlying profit jumped to 2.14 billion euros, ...

Bloomberg Standard Chartered Plc (StanChart) is weighing options to downsize its office space in what could become the biggest floor cuts by a bank in Singapore in recent years, according to people familiar with the matter. The London-based bank is weighing options that would see it give up some of the 21 floors it leases at Marina Bay Financial Tower ...

Bloomberg Mitsubishi UFJ Financial Group Inc’s securities unit has hired external lawyers to look into how the firm lost $270 million from its dealings with Archegos Capital Management. “We are sorry to cause concerns about losses from transactions with a US client,” Hiroyuki Ogata, an executive officer at Mitsubishi UFJ Securities Holdings Co., said at an earnings briefing on Wednesday. ...