Bloomberg President Joe Biden is seeking to mend ties with Pacific Island nations following years of neglect at a first-ever White House summit, as the US and its allies worry that the strategically important countries risk drifting into China’s orbit. At an unprecedented two-day event starting on Wednesday, the administration plans to announce a series of initiatives and a new ...

  Bloomberg The onshore yuan falls to the weakest level against the dollar since the global financial crisis in 2008, amid an incessant advance in the greenback and speculation China is toning down its support for the local currency. The onshore yuan weakened to 7.2409 per dollar, a level unseen in 14 years, while the offshore unit slid to an ...

Bloomberg JPMorgan Chase & Co.’s UK digital lender has attracted 1 million customers in its first year of operation, making it one of the UK’s most popular neobanks. Chase UK clients hold an average of £27,000 ($29,084) in their Chase Saver account, according to a statement on Wednesday. The lender said it has processed about 92 million card and payment ...