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Top court halts Kenyan president’s ‘bid’

  Bloomberg Kenya’s Supreme Court scuttled President Uhuru Kenyatta’s push to reshape the structure of the government, effectively halting plans to hold a referendum on the proposed changes. The judgment upheld rulings by two lower courts that the president can’t seek constitutional amendments through a popular initiative, meaning Kenyatta acted illegally in spearheading the proposals. “The Constitution of Kenya Amendment ...

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Kuroda puts yields before yen with BOJ’s credibility at stake

  Bloomberg Bank of Japan (BOJ) Governor Haruhiko Kuroda is determined to stick with targeting long-term bond yields near zero, even as it leaves him increasingly at variance with global peers and propels a depreciating exchange rate. At stake for Kuroda is the credibility of his five-year-old policy framework, designed to secure sustained 2 percent inflation. The BOJ has been ...

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Commerzbank warns of global economic risks to profit forecast

  Bloomberg Commerzbank AG warned that risks to its outlook have increased following Russia’s invasion of Ukraine and the sanctions imposed on Moscow. Geopolitical risks could impact economic growth through higher prices for raw materials and sanctions, while Russian “countersanctions” might affect Commerzbank’s portfolios, Germany’s second-biggest listed lender said in its annual report. “There are numerous risk factors that could ...

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