Seoul / AFP North Korea released a new propaganda video on Saturday menacingly titled “Last Chance”, showing a submarine-launched nuclear missile laying waste to Washington and concluding with the US flag in flames. The four-minute video romps through the history of US-Korean relations and ends with a digitally manipulated sequence showing a missile surging through clouds, swerving back to the …

Bloomberg Banks’ latitude in assessing their biggest source of risk is set to be curtailed as global regulators try to prevent the financial industry from gaming capital requirements. The Basel Committee on Banking Supervision has proposed to remove the option for lenders to use their own models to determine how much capital they need to fund exposures to financial firms, …

Boao / Reuters More than 30 countries are waiting to join the China-backed Asian Infrastructure Investment Bank (AIIB), adding to its 57 founding members, its president said. The AIIB, first proposed by President Xi Jinping less than two years ago, has become one of China’s biggest foreign policy successes. Despite the opposition of Washington, almost many major US allies – …