Bloomberg Mariano Rajoy is rallying his troops for a political fightback. But his troops aren’t so sure. The Spanish prime minister is encouraging some senior officials to run in regional elections next year as he looks to shore up his People’s Party’s power base, according to people familiar with his thinking who asked not to be named discussing party strategy. ...

Bloomberg Kenya’s main opposition alliance defied warnings of a crackdown and prepared to inaugurate its leader as a so-called people’s president, threatening to deepen the East African nation’s political crisis. Thousands of National Super Alliance (Nasa) supporters thronged Uhuru Park on the edge of Nairobi’s city center by late Tuesday morning, awaiting the arrival of their leader Raila Odinga. The ...

Bloomberg China’s top banks — the biggest in the world — have typically traded below the value of their assets on concern over rising bad debt and falling profitability. That’s starting to change, and quickly. A recent surge in the Hong Kong-traded shares of China’s Big Four state banks lifted their average price-to-book value ratio to 1. That’s the highest ...