Bloomberg Secretary of Defense Lloyd Austin said the US is building a more lethal force posture in the Indo-Pacific as part of efforts to make sure China doesn’t dominate the region the way it intends to. China is “the only country with both the will and, increasingly, the power to reshape its region and the international order to suit its ...

Bloomberg The UK government could use the military to help ease any disruption caused by public sector strikes, according to Conservative Party Chairman Nadhim Zahawi. If unions chase wage increases in line with or above inflation, “you will embed inflation for longer and hurt the most vulnerable,” Zahawi said on the “Sophy Ridge on Sunday” show on Sky News. The ...

Bloomberg Retiring Republican Senator Pat Toomey said Donald Trump’s influence on the party is diminishing “rapidly” and the former president has little chance of becoming the GOP presidential nominee in 2024. Trump has announced he’ll make another run for the presidency. But Republicans fell well short of expectations during last month’s midterm elections and those losses, along with Trump’s 2020 ...

  Bloomberg El Salvador President Nayib Bukele has deployed 10,000 security forces to confront the threat from gangs in a suburb of the capital, San Salvador. Soldiers and security agents surrounded the municipality of Soyapango to remove gang members in the area, according to a statement issued by the presidency. “8,500 soldiers and 1,500 agents have surrounded the city, while ...

Bloomberg Moscow will intensify its cyber efforts to pressure the sources of Ukraine’s military and political support both domestic and foreign, according to Microsoft Corp. In a post on the company’s “On the Issues” blog, Clint Watts, general manager of Microsoft’s digital threat analysis centre, urged customers to prepare for more Russian cyber attacks over the winter. “Russian military intelligence ...

Bloomberg The European Union (EU) should improve its state aid rules and consider more green-transition funding to offset possible distortions from the new US climate and tax law, said European Commission President Ursula von der Leyen. Her remarks came a day before the US-EU Trade and Technology Council ministerial meeting to be held at the University of Maryland, where the ...

  Bloomberg Across Wall Street, this year’s bleak expectations for banker bonuses are rapidly proving true, as a slump in dealmaking ends the industry’s war for talent and firms regain the upper hand in setting pay. JPMorgan Chase & Co, Bank of America Corp and Citigroup Inc are all weighing plans to cut bonus pools for their investment bankers by ...

  Bloomberg HSBC Holdings Plc is cutting as many as 15% of its 2,000 senior operations managers worldwide, according to Reuters. The reductions are to streamline its management ranks and reduce costs, Reuters said, citing unnamed sources. The cuts, which are already underway, are global and across business units, largely affecting positions with the title of chief operating officer, it ...

  Bloomberg Canada’s banks are spending 1.9% more on bonuses for fiscal 2022 than they did a year earlier, despite a dramatic slowdown in investment-banking activity, as they try to retain talent in the hope of a recovery in the year ahead. The country’s six largest lenders set aside C$19.4 billion ($14.5 billion) for performance-based compensation in the fiscal year ...

  Bloomberg UBS Americas President Naureen Hassan will add responsibility for several digital-focused teams that previously were part of the global wealth-management operation. Hassan, who joined the Swiss bank in October, will oversee the expansion of UBS’s digitally customized banking services, the build-out of wealth management’s digital capabilities, electronic strategy and platforms, and smart technologies and advanced analytics, according to ...