Bloomberg Australia would open a defense school to train its Pacific Island neighbours, increase foreign aid and support climate mitigation projects across the region, under an election policy announced by the opposition Labor Party that aims to boost the country’s soft power. Labor has been critical of a new security pact between China and the Solomon Islands, accusing Prime Minister ...

  Bloomberg UK Chancellor of the Exchequer Rishi Sunak pledged to bring borrowing under control to “avoid saddling future generations with debt” after official figures showed debt servicing costs rocketed. Government borrowing more than halved in the fiscal year through March as Covid-19 support programs were phased out and tax receipts recovered strongly, the Office for National Statistics (ONS) said ...

Bloomberg AP Moller-Maersk A/S said the booming container market will normalize later than the transport giant previously expected, leading to a 25% boost in full-year operating profit. Lower volumes are pushing up the price of shipping containers for longer than previously foreseen, Maersk said, forecasting a 2022 profit of about $30 billion, measured as underlying earnings before interest, tax, depreciation ...