Bloomberg US President Donald Trump offered praise for outgoing Japanese Prime Minister Shinzo Abe, and both leaders may speak by phone next week. Abe is arranging to talk with Trump on Monday, and plans to convey directly his plans to step down as prime minister as well as stress the importance of the US-Japan alliance under a new leader, Kyodo ...

Bloomberg Burundian President Evariste Ndayishimiye’s pledge to undertake wholesale reform has raised hopes the East African nation is emerging from the turmoil of his late predecessor’s authoritarian rule. Ndayishimiye has spoken of overhauling the economic and political landscape and opening up the landlocked country that was reduced to an international pariah during Pierre Nkurunziza’s 15-year stranglehold on power. Unlike the ...

Bloomberg South African President Cyril Ramaphosa is considering making changes to his cabinet after he meets the ruling party’s leadership, people familiar with the deliberations said. The meeting could be a showdown between the president and his rivals within the African National Congress (ANC), the people said, asking not to be identified as a public statement hasn’t been made. Ramaphosa ...

Bloomberg South Korea’s ruling Democratic Party picked Lee Nak-yon as its new leader on Saturday, paving the way for a possible bid by the former prime minister in the 2022 presidential election. Lee won 60.8% of the total vote in the online election and was followed by four-term lawmaker Kim Bu-gyeom, with 21.4%. The new party leader said in his ...

Bloomberg By almost every reckoning, Argentina’s $65 billion debt restructuring will be approved by a wide margin this weekend. But investors are on alert for the small risk that holdouts could make things complicated. While there’s little threat to the broad plan for most creditors to accept new bonds valued at an average of 55 cents on the dollar, some ...

Bloomberg President Donald Trump is cutting the cap on allowable steel shipments from Brazil, citing a slump in the US market. In a proclamation, Trump amended a previous decision under so-called Section 232 national security powers to lower the cap on allowable imports. The limits were set in 2018 as part of a deal between the nations to avoid tariffs ...

Bloomberg Commercial real estate deals in New York City have taken a major hit as the pandemic continues to roil the local economy. Investment sales totalled $10.5 billion in first half of 2020, down 54% from a year earlier and a record low since the Real Estate Board of New York (REBNY) began reporting the data in 2015. “We continue to ...

Bloomberg Canada’s budget deficit hit C$120.4 billion ($92 billion) in the three months through June, already more than double the largest yearly shortfall the country has ever run. Program expenses surged to C$167.9 billion, up 117% over the same time last year, as the government rolled out massive support for individuals and companies to mitigate the economic damage of the ...

Bloomberg Regulators signalled they would take a neutral stance on a new London license for Uber Technologies, offering a route for the ride hailing firm to continue to operate in its biggest European market. The London transport authority plans to leave final decision to a judge, an attorney for Uber said. The decision essentially mirrors the process through which Uber ...

Bloomberg The International Monetary Fund agreed to lend Ecuador $6.5 billion which will allow the nation to complete a bond restructuring plan and fund its 2020 budget. The deal will enable the exchange of $17.4 billion of debt to go ahead before the September 1 deadline. The country had agreed with bondholders that it would seek a new IMF deal, ...