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US accuses Russia of breaching New START nuclear arms treaty

  Bloomberg Russia is breaching the terms of the New START nuclear-arms reduction treaty by refusing to allow inspectors on its territory and stonewalling US efforts to discuss the issue, the State Department said. The department said in a statement that the Russian refusal “prevents the United States from exercising important rights under the treaty and threatens the viability of ...

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Georgia wants Russia to leave its land in a Ukraine peace deal

  Bloomberg Georgia’s president said Russia must be required to abandon its nearly 15-year-long occupation of her nation’s territory as part of an eventual peace deal to end the Kremlin’s war in Ukraine. “Russia has to learn where its borders are,” President Salome Zourabichvili said in an interview in the capital, Tbilisi. “The Georgian issues should be on the table ...

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Australia’s Wong warns regional conflict would be ‘catastrophic’

Bloomberg Australian Foreign Minister Penny Wong warned about the risk of conflict in the Indo-Pacific as she prepares to meet her British counterpart for defense talks that will likely focus on regional issues including China’s military expansion. Speaking on Tuesday before joining Australian Defense Minister Richard Marles for two days of annual bilateral talks with their British counterparts, Wong said ...

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Czech parliament speaker to visit Taiwan amid row with china

  Bloomberg The speaker of Czech parliament said she will visit Taiwan, a day after China lashed out at the nation’s president elect for saying he favored a stronger partnership with Taiwan. Marketa Pekarova Adamova said she talked to Taiwanese Foreign Minister Joseph Wu on Wednesday about her visit planned for March. Just a day earlier, China called comments made ...

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Credit Suisse to move private funds group to First Boston unit

  Bloomberg Credit Suisse Group AG plans to shift an asset management business that helps buyout firms raise funds to its First Boston spinout as the firm works to reshape its investment bank after losses. Internal discussions are taking place on moving the Private Funds Group, co-headed by David Klein in the US and Michael Murphy in London, to First ...

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UniCredit, UBS vow $12b bonanza for shareholders

  Bloomberg Europe’s largest banks kicked off earnings season with pledges to return more than $12 billion to shareholders, following an interest rate bonanza that’s bolstering lenders from Milan to Stockholm. UBS Group AG Chief Executive Officer Ralph Hamers vowed to return more than $6.7 billion to shareholders this year, after income from lending to wealthy clients surged in the ...

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Citi poaches JPM’s Besseddik to head Europe health-care banking

  Bloomberg Citigroup Inc is hiring Cyril Besseddik from JPMorgan Chase & Co. to lead coverage of health-care companies in Europe, the Middle East and Africa for its investment bank. Besseddik is set to join Citigroup’s banking, capital markets advisory group in May and will be based in London, according to an internal memo seen by Bloomberg News. He was ...

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PayPal to slash 2,000 jobs

  Bloomberg PayPal Holdings Inc. said it will cut 2,000 staffers as it contends with a macroeconomic slowdown that’s weighed on the firm’s business in recent quarters. The cuts, which will affect about 7% of employees, will take place in the coming weeks, Chief Executive Officer Dan Schulman told employees. “While we have made substantial progress in right-sizing our cost ...

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Kenya keeps benchmark interest rate unchanged

  Bloomberg Kenya surprised most analysts by keeping its benchmark interest rate unchanged for the first time since July, as it sees inflation declining in the near term. The monetary policy committee held the rate at 8.75%, Governor Patrick Njoroge said in an emailed statement. Only two of five economists in a Bloomberg survey expected the rate to remain unchanged. ...

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