Bloomberg Forces in Ethiopia’s embattled Tigray region fired missiles towards the capital of neighbouring Eritrea for a second consecutive day after Ethiopian federal troops routed them from their own regional capital, according to foreign diplomats with knowledge of the attack. Officials from the Tigray People’s Liberation Front have blamed Eritrea for helping Ethiopia Prime Minister Abiy Ahmed advance against them ...

Bloomberg Hong Kong’s Chief Executive Carrie Lam says that she has “piles of cash” at home because she is denied basic banking services due to US sanctions. In an interview, Lam said the Hong Kong government has to pay her in cash because she does not have a bank account following sanctions imposed by the US on her and other ...

Bloomberg The Somali military executed three members of the Al-Shabab extremist group who were convicted of several killings in the capital Mogadishu. The three included Mohamed Haji Ahmed Ilkacase, chief of Al-Shabab’s assassination unit in Mogadishu, according to military court officials. They were executed by firing squad on Sunday, the attorney general of the Somali military court, Abdullahi Bulle Kamey, ...

Bloomberg Vice President-elect Kamala Harris dismissed the prospect of a rematch against President Donald Trump, who’s been signalling he could run again in 2024 if he can’t reverse the results of this month’s vote. Speaking to reporters at a holiday market in Washington, Harris made a scoffing sound when asked whether she and President-elect Joe Biden would be prepared to ...

Bloomberg British banks are finalising plans for outsourcing the recovery of billions of pounds in taxpayer-backed business loans issued during the Covid-19 pandemic. A consortium of lenders is expected to set up an entity that will oversee debt collectors tasked with chasing bad loans, people with knowledge of the matter said. A final decision is expected in early December, said ...

Bloomberg JPMorgan Chase & Co and Lloyds Banking Group Plc have expressed interest in buying Starling Bank Ltd, a British challenger startup lender, the Times reported. The sale of Starling could lead to the first big merger of an established lender with a startup in Britain, the newspaper said, without identifying its sources. American giant JPMorgan is preparing to launch ...

Bloomberg HSBC Holdings Plc is considering an exit from US retail banking, according to a report by the Financial Times. In the coming weeks, senior managers will outline the plan to the bank’s board, the newspaper said, citing two unidentified people familiar with the matter. They are also likely to suggest reducing investment banking activities to concentrate on international clients ...

Bloomberg A growing number of top European Central Bank (ECB) officials are voicing support for ending the de facto ban on banks paying dividends during the pandemic, laying the groundwork for a resumption next year and a return of investor confidence to the sector. Bank of France Governor Francois Villeroy de Galhau became the third ECB governing council member to ...

Bloomberg President Donald Trump formally nominated Brian Brooks to take over a key banking regulator, potentially forcing Joe Biden to fire him after the president-elect is sworn in. The White House said it had sent the nomination to the Senate, where Senate Banking Committee Chairman Mike Crapo has already signalled that Brooks would get a confirmation hearing for a five-year ...

Bloomberg China’s finance sector should open up further to support the “dual circulation” economic strategy and mitigate risks in the industry, a central bank official said. More liberalisation in the financial sector would provide extra support to the real economy, according to Liu Guiping, vice governor of the People’s Bank of China (PBOC). He was speaking at a forum organised ...