It’s less than a year since European Central Bank (ECB) President Christine Lagarde was forced to backtrack after her comment that “we’re not here to close spreads” roiled bond markets. As rising US Treasury yields drive European borrowing costs higher, she now faces the prospect of having to intervene to cap outright levels. With commodity prices near an eight-year high, ...

Bloomberg Joe Biden and Canadian Prime Minister Justin Trudeau said their nations would adopt a unified approach toward the pandemic, climate change and China, setting aside trade and other tensions in what the White House called the new US president’s first bilateral meeting. After about a two-hour virtual meeting between the two leaders and their staffs, Biden said that they ...

Bloomberg Republican Mitt Romney said Donald Trump likely would win the GOP presidential nomination if he decided to run again in 2024. The Utah senator, the only Republican who voted to convict Trump in both of his impeachment trials, said he expects the former president will continue to play a big role in the Republican Party even though he was ...

Bloomberg Tens of thousands of Republicans have left the party in the weeks since the January 6 riot at the US Capitol, a move that sidelines members who could have loosened Donald Trump’s ever-tightening grip on the GOP. In six key states, 57,000 voters have quit the GOP, becoming Democrats, Libertarians or just unaffiliated, according to a Bloomberg analysis. Nationally, ...

Bloomberg China’s People’s Liberation Army (PLA) trained Hong Kong police cadets on a style of marching that’s used in the mainland for ceremonies, paving the way for the city to take another symbolic step toward shedding its British colonial past. China’s PLA garrison in Hong Kong recently conducted the training to help enhance the local police force’s knowledge and skills ...

Bloomberg HSBC Holdings Plc said it expects to eventually shrink its property footprint by 40%, the latest sign of how the pandemic is changing the role of the office. Europe’s largest bank would reduce its “real estate footprint” over the long term, Group Chief Operating Officer John Hinshaw said in a call with analysts after bank reported fourth-quarter results. Last ...

Bloomberg Credit Suisse Group AG and UBS Group AG are relocating a number of bankers to mainland China from Hong Kong to better compete for deals after the world’s fastest growing major economy relaxed curbs on foreign financial firms. Credit Suisse moved three directors, including Vivian Feng, Richard Kot and Felix Meng, as well as four more junior bankers, to ...

Bloomberg Lloyds Banking group Plc beat forecasts with a pretax profit of 792 million pounds ($1.1 billion) in its fourth quarter, helped by a buoyant UK housing market and government support for its borrowers. Britain’s biggest mortgage lender announced a dividend 0.57 pence per share, marking the end of a year without payouts to protect lending during the pandemic. In ...

Bloomberg Poland’s state-controlled PKO Bank Polski SA wants to end the legacy of its Swiss-franc mortgage lending this year, piling pressure on the rest of the industry to follow suit. The country’s biggest bank will seek shareholders’ approval to offer conversion of foreign currency loans to all borrowers once the pilot program it’s running with selected clients is over, Chief ...

Bloomberg The Reserve Bank of India (RBI) is concerned that cryptocurrencies may impact financial stability in Asia’s third-largest economy, a view that could shape looming regulations on the asset that is breaking price-records around the world. The monetary authority has conveyed these “major concerns” to government, Governor Shaktikanta Das said in an interview to CNBC TV-18. Prime Minister Narendra Modi’s ...