Bloomberg China’s economy ended the year in a major slump as business and consumer spending plunged in December, with more disruption likely in the first few months of the year as Covid infections surge across the country. Official data showed the decline in manufacturing worsened last month, while activity in the services sector plunged the most since February 2020. …

Bloomberg Germany is open to using billions of euros in frozen Russian assets to help Ukraine rebuild as long as legal issues can be resolved and allies follow suit. Chancellor Olaf Scholz’s government supports Ukraine’s demand for war reparations but hasn’t yet taken an official position on seizing assets from the Russian state. The issue is complex and some parts …

Bloomberg Philippine President Ferdinand Marcos Jr said his government expects to sign more than 10 agreements with China during his visit there, as he seeks to shift the two nations’ ties to “higher gear.” “I will be opening a new chapter in our comprehensive strategic cooperation with China,” Marcos said in a speech before departing for Beijing. He added that …