Bloomberg Russia will create new commands near Europe as it expands its military to 1.5 million people amid deepening tensions with the US and its allies over the Kremlin’s invasion of Ukraine. New structures in the regions around Moscow, St. Petersburg and Karelia on the border with Finland will be created under the program, Defense Minister Sergei Shoigu told commanders …

Bloomberg Chancellor Olaf Scholz has put forth Boris Pistorius to be Germany’s new defense minister, filling a critical role in his cabinet after Christine Lambrecht resigned on Monday following a series of missteps. In a statement, Scholz praised Pistorius’s “strength and calmness,” and singled out his experience with defense policy. The 62-year-old is a veteran Social Democrat who has served …

  Bloomberg Citigroup Inc and Bank of America Corp (BofA) have done more to support the expansion of fossil-fuel companies than any other lenders claiming to target net-zero financed emissions, according to a new analysis comparing industry pledges to action. The Wall Street firms, which joined the Net Zero Banking Alliance when it was founded in April 2021, have since …