Bloomberg Australia’s Minister for Foreign Affairs Marise Payne said there are concerns about a “lack of transparency” in relation to the draft security agreement between the Solomon Islands and China. Speaking in a local television interview, Payne said the matter is “something that should be discussed in the broader Pacific Island forum context itself” and that the “Pacific family” ...

  Bloomberg Sri Lanka’s army denied speculation it is planning to crack down on protesters seeking the ouster of President Gotabaya Rajapaksa. In a statement, it termed as “sinister” allegations that troops are training to assault the demonstrators. Soldiers will step in only if the police call on them for assistance, the army said. “Troops as everyone witnessed in the ...

  Bloomberg South Korea’s President-Elect Yoon Suk Yeol plans to send a group of delegates to Japan next week, Yonhap News reported, a sign that the two nations could work toward mending relations amid mounting North Korean provocations. The seven-member delegation led by People Power Party’s lawmaker Chung Jinsuk will visit Japan’s foreign ministry officials during their visit from April ...

Bloomberg President Joe Biden will host leaders of ASEAN countries on May 12-13 in Washington, signaling US efforts to engage with the group in the competition with China for regional influence. A White House statement announcing the special summit with the 10-country Association of Southeast Asian Nations said the US administration shares a “commitment to advance an Indo-Pacific that is ...

Bloomberg The UK government’s push to send some asylum seekers to Rwanda may not deter enough migrants to make the effort cost effective, the Home Office official charged with assessing the plan said. Migrants who cross the English Channel on small boats risk being relocated to the African state with a one-way ticket, Prime Minister Boris Johnson said in presenting ...

  Bloomberg UK regulators have warned banks against carrying out complex pension plan deals that are structured to delay any hit to capital reserves, a broadside that analysts say could affect Barclays Plc. The Prudential Regulation Authority (PRA) said in a statement that lenders should avoid entering into agreements that defer the impact of pension scheme contributions as they could ...

  Bloomberg Wells Fargo & Co. announced a $210 million effort to expand racial equity in residential lending after a Bloomberg News investigation found the bank approved Black homeowners seeking to refinance mortgages in the pandemic at a far lower rate than White ones. The firm, the biggest mortgage lender among US banks, is committing $150 million beyond its usual ...

  Bloomberg Morgan Stanley and Citigroup Inc. shares outperformed their peers on stronger-than-expected results after five of the six largest US banks reported first-quarter earnings this week. Both banks’ shares posted initial advances of at least 3.5% before paring their gains amid a broader market pullback. The move higher was bolstered by big gains from their fixed income and equities ...

  Bloomberg ABN Amro Bank NV has apologized for its historic involvement in slavery, after a report revealed the rise of some of the bank’s predecessors were closely linked to the slave trade. The Dutch lender said its predecessor, Hope & Co., played a “pivotal role” in the international slave trade of the 18th century and was actively involved in ...

  Bloomberg Argentina’s central bank raised interest rates for the fourth time this year after inflation data published earlier in the day showed prices increasing at the fastest monthly pace in 20 years. The monetary authority increased its benchmark Leliq rate by 250 basis points to 47%, according to a statement. The rate hike also boosts the effective annual rate, ...