Bloomberg Russian President Vladimir Putin reassigned the top official responsible for military production as the Kremlin digs in for a long war in Ukraine that’s tested an industry long plagued by inefficiency and corruption. Putin released Yury Borisov as deputy prime minister overseeing the defense industry and appointed him as general director of Roscomos in place of Dmitry Rogozin, ...

  Bloomberg Morgan Stanley’s revenue from investment banking plummeted as capital markets seized up, underlining a slow quarter for Wall Street as a dour outlook for the economy muddles the path forward. The firm’s investment-banking group posted $1.07 billion in revenue, down 55% from a year earlier, a bigger decline than the 47% drop analysts had predicted. The bank also ...

  Bloomberg The Bank of Korea (BOK) doubled the margin of its latest rate increase and promised more hikes to come, as it stepped up its battle against inflation now running at a 23-year high. The central bank joined a global wave of larger rate increases by pushing up its seven-day repurchase rate by a half-percentage point to 2.25% as ...