Bloomberg President Joe Biden denied that relations with Beijing have suffered a serious blow after the US downed an alleged Chinese spy balloon that flew across the continental US. Biden said that the US is currently recovering “major pieces” of the aircraft to analyze the equipment. But he maintained that the incident hasn’t further exacerbated tensions with the country. “No. …

  Bloomberg Indian Prime Minister Narendra Modi continued to deflect opposition pressure over his said links with billionaire Gautam Adani who’s battling allegations of fraud and market manipulation from a US short seller. Modi spoke in the upper house of parliament, his second speech in the legislature in as many days, amid chants of “Modi-Adani are brothers” from the opposition …

Bloomberg Credit Suisse group AG posted a bigger-than-expected loss for the fourth quarter and unprecedented client outflows, exacerbating the difficulty for Chief Executive Officer Ulrich Koerner in returning to profitability by next year. Shares in the Swiss bank slid 10% on Thursday after it posted a fifth-straight quarterly loss, of 1.39 billion Swiss francs ($1.5 billion). While outflows were concentrated …