Bloomberg Japanese Prime Minister Fumio Kishida said the country needed to focus on new areas of growth as a panel laid out proposals for his “new form of capitalism” aimed at reducing social disparities and driving the economy. “We’ve put together a grand design for a new capitalism,” Kishida said at a meeting of the panel. “We’ll seek new growth, ...

  Bloomberg Chinese authorities are facing an uphill battle convincing companies and households to boost borrowing as long as Covid outbreaks and lockdowns continue to crush confidence. After loan growth weakened in April to the worst level in almost five years, several indicators suggest the data for May won’t be much better. Housing sales have continued to slump, indicating a ...

Bloomberg European Union (EU) countries are set to cut Russia’s largest lender Sberbank off the SWIFT international payments system, as the bloc readies a sixth package of sanctions against Russia for its invasion of Ukraine. The proposed restrictions also target Credit Bank of Moscow and the Russian Agricultural Bank, according to people familiar with the discussions. The EU, the US ...