Bloomberg Democratic presidential nominee Joe Biden predicted that big wins for his party in November could lead to an “epiphany” that convinces Republicans to join Democrats in pulling the country out of crisis. “If we win as big as we possibly can, there’s going to be a great, great epiphany that’s going to take place, as we Catholics say,” Biden ...

Bloomberg A top Russian official said his country could roll out a vaccine against Covid-19 as soon as September, while denying accusations that hackers working for the country’s intelligence agency tried to steal sensitive data from rival researchers in the UK, US and Canada. “Russia may be one of the first to produce a vaccine against the backdrop of the ...

Bloomberg In an election that took place largely on social media, the most tweeted-about hashtags during Singapore’s recent polls reflected the breakthrough made by the main opposition party as it won a record number of seats in Parliament. Twitter, Facebook, Instagram and Reddit are just some of the platforms where both campaigning, and heated debate, took place as social distancing ...

Bloomberg Thousands of people marched through the streets of the Russian far east city of Khabarovsk, local media reported, in a second week of protests over the arrest of the region’s popular governor, amid a deepening crackdown on opponents of President Vladimir Putin. Demonstrators carried slogans demanding the release of Khabarovsk Governor Sergey Furgal, according to footage posted on social ...

Bloomberg Former Fed Chairs Ben Bernanke and Janet Yellen warned that the US economic recovery from the coronavirus shock could be slow and uneven and said the central bank may opt to cap yields on Treasury securities to help it along. “It is possible, though not certain,” that the Fed will implement yield-curve control, they wrote on the Brookings Institution ...

Bloomberg Bank of America Corp.’s (BofA) profit slid 52% as it joined rivals in preparing for an onslaught of consumer defaults spurred by pandemic’s economic fallout. Profit at the consumer-banking unit plunged 98% as the coronavirus shuttered much of the US economy and caused tens of millions of Americans to lose their jobs. The company allocated $5.1 billion for loan ...

Bloomberg Bank Indonesia lowered its key interest rate for a second straight month to bolster economic growth, and signalled further easing will depend on inflation and how the recovery from the coronavirus pandemic unfolds. The central bank cut its seven-day reverse repurchase rate by 25 basis points to 4%, the lowest since the current rate system was adopted in 2016, ...

Bloomberg DNB ASA, Norway’s biggest bank, delivered second-quarter earnings that beat even the most optimistic estimates as impairments proved less dire than feared. The Oslo-based lender’s net income reached 4.77 billion kroner ($508 million) in the three months through June. Impairments fell 63% from the first quarter, DNB said. Thomas Eskildsen, an analyst at Handelsbanken, said trading and commission income ...

Bloomberg The road to recovery for the US economy will be uneven, unclear and uncertain as the coronavirus retains its hold on business and Americans’ everyday activities, according to the heads of the nation’s biggest banks. In the wake of brighter data on employment, retail sales and housing over the last two months, most financial-institution executives curbed their enthusiasm about ...

Bloomberg HSBC Holdings global head of equities is leaving the lender as the bank revives restructuring plans that are hitting the securities unit. Hossein Zaimi, who has held the role within HSBC’s global banking and markets division since 2017, is leaving within weeks, according to people familiar with the matter, who asked not to be named discussing private information. HSBC’s ...