Bloomberg China’s most senior diplomat vowed to counter any perceived US efforts to disrupt a once-in-five-year Communist Party meeting at which President Xi Jinping is set to secure a precedent-breaking third term. Beijing should “resolutely respond to any words and deeds by Washington to suppress and contain China” before the 20th party congress later this year, Yang Jiechi wrote ...

Bloomberg Scotland is committed to rejoining Nato along with the European Union should it gain independence from the UK after Russia’s invasion of Ukraine heightened security risks, First Minister Nicola Sturgeon said. In a speech in Washington, the Scottish National Party (SNP) leader said the war had made membership in the alliance more vital. She pointed to Scotland’s strategic position ...

Bloomberg Boris Johnson’s government plans to introduce legislation within weeks to override parts of the Brexit deal it negotiated with the European Union, a move that’s likely to escalate tensions with the bloc and raise the prospect of a trade war. While the UK would prefer to reach a negotiated solution, the situation in Northern Ireland means Britain has to ...

  Bloomberg Group of Seven (G-7) finance ministers meeting in Bonn will discuss an aid package to support the immediate financial needs of Ukraine, according to government officials. While final figures have not yet been decided, the G-7 will probably consider a preliminary contribution of 5 billion euros ($5.3 billion) for the first month, said two people familiar with the ...

Bloomberg Kim Jong-un mobilised North Korea’s military to help fight one of the biggest crises he has faced in his decade as leader, as suspected Covid-19 cases reached nearly 1.5 million in less than a month. Pyongyang reported 269,510 new “fever cases” and six deaths nationwide in a 24-hour period, the state’s official Korean Central News Agency reported. Since late ...

Bloomberg Elon Musk declared he won’t proceed with his $44 billion takeover of Twitter Inc. unless the social media giant can prove bots make up fewer than 5% of its users, casting yet more uncertainty over the deal. The billionaire tweeted “this deal cannot move forward” unless Twitter provides proof of its claims, reiterating his own view that the ratio ...

Bloomberg Microsoft Corp plans to “nearly double” its budget for employee salary increases and boost the range of stock compensation it gives some workers by at least 25%, an effort to retain staff and help people cope with inflation. The move will mainly affect “early to mid-career employees,” the software giant said in a statement. “As we approach our annual ...

Bloomberg The euro-area economy grew more than initially estimated at the start of the year as the region moved past a wave of Covid-19 infections and defied headwinds from the early days of the war in Ukraine. Economic output rises 0.3% in the first quarter, exceeding a flash reading of 0.2%, according to Eurostat figures released Tuesday. Employment, meanwhile, gained ...

Bloomberg Property values in Los Angeles County are projected to rise by a record $100 billion this year, providing a boon to municipal coffers on the back of a hot housing market. The amount translates to $1.86 trillion in net value for taxable properties in the county, a 6% increase from 2021, according to a May forecast of the county’s ...

  Bloomberg Wage growth in Britain jumped in the first quarter, fueled by an increase in bonus pay despite a call from the Bank of England for restraint. Average weekly earnings surged 7% in the three months through March, the Office for National Statistics said on Tuesday. That was stronger than the 5.4% figure economists had expected, mainly due to ...