Bloomberg Fiji has elected Sitiveni Rabuka as the nation’s prime minister, ending the 16-year rule of Frank Bainimarama. Rabuka gained 28 ballots to his predecessor’s 27 to become the new leader in a parliamentary vote, more than a week after a national election where no party held a majority of seats. While Rabuka’s party won fewer seats than Bainimarama’s, ...

  Bloomberg A turbulent year for the pound is coming to an end with little evidence that 2023 will be much different. Signs of a painful UK economic downturn keep piling up, making analysts doubtful that the currency can extend — or even sustain — a recent rebound against the dollar. The options market also shows skepticism, with traders still ...

Bloomberg European Central Bank (ECB) Executive Board member Isabel Schnabel says interest rates will have to move into “restrictive territory” to bring inflation back to target. The danger of a policy overreaction by the ECB “continues to be limited, as real interest rates are still very low,” Schnabel said. Reflecting on the ECB’s string of four interest rate hikes, Schnabel ...