Bloomberg Soaring inflation, higher interest rates and supply-chain snarls spurred by the war in Ukraine pushed most of the European Union’s biggest eastern economies into contraction in the fourth quarter. Poland’s economy shrank 2.4% from the previous three months — much worse than the 0.5% forecast in a Bloomberg survey — for its second non-consecutive decline last year. It ...

Bloomberg Nato countries may agree as soon as this summer to spend at least 2% of their economic output on defense, a slight shift from the alliance’s 10-year-old pledge to “move toward the 2% guideline.” North Atlantic Treaty Organization Secretary General Jens Stoltenberg and the alliance’s defense ministers were supposed to discuss the target when they meet in Brussels for ...

Bloomberg Secretary of State Antony Blinken is considering a meeting with Wang Yi, China’s top diplomat, at a security conference later this week, people familiar with the matter said, in what would be their first face-to-face talks since an uproar over a Chinese balloon led to a new spike in tensions. Blinken and Wang would meet at the Munich Security ...

  Bloomberg Nikki Haley, a former South Carolina Governor and Donald Trump’s ambassador to the United Nations, announced Tuesday that she’s running for president, casting herself as the Republican leader best positioned to usher in a fresh chapter for the GOP. “It’s time for a new generation of leadership – to rediscover fiscal responsibility, secure our border, and strengthen our ...

Bloomberg President Volodymyr Zelenskiy’s embattled defense chief appointed three deputies as part of a shakeup aimed at quelling accusations over corruption in the top echelons of the government. Defense Minister Oleksii Reznikov, who earlier this month confronted speculation that he would be removed from his post, is taking to damage control after officials under him were swept up in a ...

  Bloomberg The Philippines has protested China’s move to aim a military-grade laser at a Philippine ship in the South China Sea which the US said was “provocative and unsafe” and threatens peace and stability in the region. The diplomatic protest, filed with the Chinese Embassy in Manila on Tuesday, “condemned the shadowing, harassment, dangerous maneuvers, directing of military-grade laser, ...

  Bloomberg Japanese Prime Minister Fumio Kishida nominated a Bank of Japan (BOJ) policy veteran and a former chief financial regulator as central bank deputies to support his pick of university professor Kazuo Ueda for the top job. The selection of Shinichi Uchida, the central bank’s executive director and Ryozo Himino, also a former finance ministry official known for his ...

  Bloomberg The Federal Reserve will likely have to keep raising interest rates to rein in price growth, which could slow economic expansion and affect the jobs market, Governor Michelle Bowman said. “We are still far from achieving price stability, and I expect that it will be necessary to further tighten monetary policy to bring inflation down towards our goal,” ...

Bloomberg Credit Suisse Group AG warned part of its workforce that a former employee copied and took some of their personal data years ago, including descriptions of their compensation. The staffer, who had legitimate access to data at the time, transferred the information onto a personal device in breach of Credit Suisse policies and later left the company, the Swiss ...

  Bloomberg The policy chief for Japan’s ruling Liberal Democratic Party (LDP) said the country’s easy monetary policy should be maintained, but has room for adjustment and reform. Koichi Hagiuda, head of the Policy Research Council at the LDP, made the comments on a program on national broadcaster NHK while discussing the imminent nomination of the Bank of Japan’s next ...