Bloomberg The US and the Philippines have agreed to resume joint patrols in the South China Sea amid lingering tensions with China in the disputed waters. The decision was reached during Thursday’s meeting between US Defense Secretary Lloyd Austin and his Philippine counterpart, Carlito Galvez, where they also exchanged views “on shared regional security challenges in the Indo-Pacific,” according …

  Bloomberg The Bank of England (BOE) signalled the fastest pace of interest-rate hikes in three decades may be drawing to a close after it raised its benchmark lending rate a half point. Policy makers led by Governor Andrew Bailey voted 7-2 to raise the benchmark lending rate to 4%, the highest since 2008. The majority said strong pay growth …

  Bloomberg Barclays Plc is weighing an increase in the bonus pool for its fixed income trading division, with the unit expected to produce record revenue after 2022’s wild market swings. The British bank is considering boosting the overall incentive compensation for fixed income traders by as much as 15%, according to people familiar with the matter. The proposals are …