Bloomberg The European Union is set to propose a new round of sanctions that would target a total of 14 individuals, including a number of wealthy Russians and their family members, but will stop short of more far-reaching steps like penalizing ports, according to several diplomats. The latest round of sanctions for Russia’s invasion of Ukraine would also target ...

  Bloomberg China accused the US military of operating “dangerous” biolabs in Ukraine, echoing a Russian conspiracy theory that Western officials warned could be part of an effort to retroactively justify President Vladimir Putin’s invasion. “US biolabs in Ukraine have indeed attracted much attention recently,” Chinese Foreign Ministry spokesman Zhao Lijian said in response to a question from a local ...

Bloomberg UK lawmakers voted in favour of a package of measures to toughen government powers and speed up sanctions against Russian tycoons after Home Secretary Priti Patel accused Vladimir Putin’s allies of hiding “dirty money” in Britain. “We do not want it here,” Patel said as she opened six hours of debate on the measures in the House of Commons. ...

  Bloomberg Vietnam asked China not to violate its exclusive economic zone and continental shelf with military drills, foreign ministry spokesperson Le Thi Thu Hang said in response to reporters’ questions about the Hainan Provincial Customs Administration’s announcement about the exercises. China should not take actions that complicate the South China Sea situation but rather help maintain regional peace, security ...

  Bloomberg China asked its biggest financial firms and other state-owned enterprises to report the extent of their exposure to derivatives contracts following wild swings in nickel and other commodities that embroiled one of the country’s largest banks. At least two Chinese banks held urgent internal meetings about their clients’ exposure on Tuesday, according to people familiar with the matter ...

  Bloomberg China should draft new laws and regulations for the digital yuan to address privacy concerns and clarify how it operates, a senior Chinese state bank official proposed. The new law should clearly define the duty of the central bank to protect users’ privacy and make sure their information is only accessible for the purpose of protecting national security, ...

  Bloomberg The chances of enacting President Joe Biden’s stalled Build Back Better Act have increased as a result of the war in Ukraine, according to Goldman Sachs Group Inc. economists. The prospect of a ban on Russian oil imports may give the legislation— and the more than $550 billion earmarked to fight climate change — a second chance, potentially ...

  Bloomberg Pay for the leaders of Canada’s five largest banks rose an average of 28% as the lenders’ earnings increased and shares gained. Total direct compensation for the chief executive officers climbed to a combined C$65.7 million ($51.2 million) for fiscal 2021, which ended Oct. 31. The bump for CEOs tops the 18% average increase in variable pay that ...

Bloomberg The odds of Russia making its foreign debt payments are diminishing as bond prices fall, recession in the nation looms and various payment restrictions pile up after the invasion of Ukraine, according to Morgan Stanley & Co. “We see a default as the most likely scenario,” Simon Waever, the firm’s global head of emerging-market sovereign credit strategy, wrote in ...

Bloomberg Stocks in Europe rallied along with US futures after Bloomberg reported that the European Union is considering joint bond sales to help counter the fallout from Russia’s invasion of Ukraine. Bonds dropped and the euro strengthened. The Stoxx Europe 600 index reversed an early decline to climb more than 1%, set for its first advance in four days as ...