Bloomberg Japan and India held their first joint air drills in an area outside of Tokyo as both countries step up military exercises with other countries amid worries about China’s assertiveness. About four F-2 and four F-15 fighters are expected to take part in the drills that started Monday and will run through around Jan. 26 at an airbase …

Bloomberg Six months since Turkey agreed to Nato allies inviting Sweden and Finland to join the alliance, the expansion has stalled as Ankara holds out on ratifying the applications. Fresh tensions flared last week after protesters in Stockholm affiliated with Kurdish movements hanged an effigy of President Recep Tayyip Erdogan, prompting Turkey to put yet more pressure on Sweden to …

Bloomberg German Defense Minister Christine Lambrecht stepped down following a series of missteps and days of speculation over her future, a blow to Chancellor Olaf Scholz’s government as it weighs crucial decisions on arming Ukraine. Lambrecht asked to be relieved of her cabinet post, blaming intense media reporting as an unacceptable distraction, and Scholz accepted the request and respects the …

  Bloomberg The UK and European Union pledged to continue working toward a post-Brexit deal for Northern Ireland, but stopped short of formally announcing an intense final phase of negotiations. Foreign Secretary James Cleverly and European Commission Vice-President Maros Sefcovic said in a joint statement Monday that they need to find “solutions together to tackle comprehensively the real-life concerns of …

  Bloomberg China’s central bank added less cash than expected into the banking system via policy loans while keeping the rate unchanged this month even with funding demand on the rise into Lunar New Year holidays. The People’s Bank of China (PBOC) injected a net 79 billion yuan ($11.8 billion) via its one-year medium-term lending facility this month, less than the …

  Bloomberg UBS Group AG doesn’t plan acquisitions in the US “in the foreseeable future” and has no intention to buy Credit Suisse Group AG, the bank’s chairman Colm Kelleher told Swiss newspaper Neue Zuercher Zeitung. UBS hasn’t yet realised its full potential in the US, Kelleher said in an interview. “We need to get our wealth management business up …

  Bloomberg US banks see tougher times ahead for consumers. That may not be so bad for the banks. The heads of the nation’s four largest lenders — JPMorgan Chase &, Bank of America Corp., Wells Fargo & Co. and Citigroup — took turns in calls describing customers who are drawing down savings, piling up debt on credit cards and …

    Bloomberg The cost to hedge against volatility in dollar-yen over the coming week has risen to the highest level in almost three years as traders brace for any more Bank of Japan (BOJ) surprises on Wednesday. By raising the cost of the contracts, option sellers are trying to reduce the expense of being caught off guard again after …

  Bloomberg Global equities faltered after their best start to a year in a generation as investors assessed whether the rally has gone too far given the outlook for the inflation, growth and earnings. The MSCI ACWI Index slipped for the first time in seven days after posting the biggest advance for the first two weeks in data going back …

  Bloomberg Bitcoin has bolted out of January’s starting gates with a climb of more than 28%, turning up the heat on bears who anticipated more challenges for riskier investments after sharp selloffs in 2022. The token’s advance so far is the best for the opening month of a year since a 31% rally in 2020 before the pandemic hit. …