Bloomberg Seen as a test of Malaysia’s anti-corruption credentials, the guilty verdict against former prime minister Najib Razak in the first of the 1MDB trials could strengthen the new government’s hand after months of political turmoil. The High Court on Tuesday sentenced Najib to 12 years in jail after finding him guilty of all seven charges in the case involving ...

Bloomberg When Richard Grenell left his post as US ambassador to Germany in February, government officials in Berlin were relieved. But Donald Trump’s pick for the position, retired US Army Colonel Douglas Macgregor, has them wondering if the new envoy will be just as combative as his predecessor. “It is indeed striking that Trump is sending a proven military strategist ...

Bloomberg New Zealand suspended its extradition agreement with Hong Kong, falling into step with its Western allies after China passed a national security law for the financial hub. Foreign Affairs Minister Winston Peters said in a statement on Tuesday that New Zealand could “no longer trust that Hong Kong’s criminal justice system is sufficiently independent from China.” The statement drew ...

Bloomberg The Hong Kong government is considering postponing legislative elections amid a recent surge in coronavirus cases, media reports say, prompting criticism from pro-democracy candidates hoping to triumph in the September vote. Hong Kong Chief Executive Carrie Lam’s advisory Executive Council was expected to meet on Tuesday to discuss postponing the September 6 legislative elections, the Hong Kong Economic Times ...

Bloomberg As other countries face renewed outbreaks, Sweden’s latest Covid-19 figures suggest it’s rapidly bringing the virus under control. “That Sweden has come down to these levels is very promising,” state epidemiologist Anders Tegnell said. Since hitting a peak in late June, Sweden’s infection rate has fallen sharply, according to the Health Agency of Sweden. That’s amid an increase in ...

Bloomberg A Chinese researcher in US custody on charges of visa fraud was ordered detained until August 10, when she’ll have a fight on her hands if she asks to be released on bail. Juan Tang appeared before US Magistrate Judge Deborah Barnes in Sacramento, California. She took shelter at the Chinese consulate in San Francisco after federal agents interviewed ...

Bloomberg Caught in the crossfire between Washington and Beijing, HSBC Holdings Plc is fighting forces that threaten to upend a business built on connecting China to the West. Chairman Mark Tucker is overseeing a sweeping review of HSBC’s US and European operations with an eye towards unloading businesses beyond repair, as doubts grow that 35,000 job cuts announced in February ...

Bloomberg An independent panel backed an African Development Bank (AfDB) probe that found no evidence of wrongdoing by its president, Akinwumi Adesina. The finding enables Adesina, 60, to seek re-election next month as head of the continent’s biggest multilateral lender for another five years. It’s also a rebuff to US Treasury Secretary Steven Mnuchin, whose rejection of the AfDB ethics ...

Bloomberg Credit Suisse Group AG invested nearly $100 million in Ant Group during its last funding round, according to people familiar with the matter, setting the Swiss bank up for a potential windfall as the Chinese internet giant prepares to go public. The Zurich-based lender, a frequent adviser on deals across Jack Ma’s empire, made the equity investment during Ant’s ...

Bloomberg Royal Bank of Canada (RBC) will buy solar power from BluEarth Renewables Inc. under a renewable-energy contract that’s a first of its kind for a Canadian financial firm. Canada’s largest bank and partner Bullfrog Power, a unit of Spark Power Group Inc., will each purchase 31,500 megawatt-hours a year — enough electricity for almost 2,600 homes — in an ...