Bloomberg President Joe Biden reaffirmed the United States’ “ironclad commitment to the defense of the Philippines” during his meeting with counterpart Ferdinand Marcos Jr in New York. The two leaders also “underscored their support for freedom of navigation and overflight” in the South China Sea, and sought peaceful resolution of disputes, according to a White House readout. Biden and Marcos ...

Bloomberg Russian President Vladimir Putin’s move to draft in 300,000 reservists to reinforce his troops in Ukraine is likely to extend the war rather than influence its outcome. Still, it could buy him time to execute a wider strategy — including exacerbating Europe’s energy crisis and threatening a nuclear strike on unspecified targets— aimed at undermining foreign military and financial ...

Bloomberg China’s foreign minister compared the drive for Taiwanese independence to a charging rhinoceros that must be stopped in its tracks, and blamed the US for speeding it along. Foreign Minister Wang Yi said legislation under consideration by US lawmakers threatens the foundation of US-China ties. He said voices advocating the independence of Taiwan, which Beijing claims as its territory, ...

  Bloomberg Luiz Inacio Lula da Silva is gaining momentum 10 days before Brazil’s presidential election, nearing the simple majority needed to give him a first-round victory on October 2, a new DataFolha poll shows. Leftist challenger Lula would take 47% of the first-round vote, up from 45% a week ago, with the increase falling inside the poll’s two-point margin ...

Bloomberg Liz Truss’s new UK government delivered the most sweeping tax cuts since 1972, slashing levies on rich households and companies in a bid to boost economic growth in a move that triggered a massive market selloff of the currency and bonds. Chancellor of the Exchequer Kwasi Kwarteng announced a series of tax cuts and regulatory reforms that will cost ...

Bloomberg Germany is stepping up preparations for a gas emergency that would require rationing for the country’s biggest companies this winter as Russia’s squeezes flows to Europe. In a sign of growing urgency, the regulator will next Wednesday present to lawmakers a digital security platform to identify the “non-protected” consumers that will bear the brunt of rationing. That includes Germany’s ...

  Bloomberg President Joe Biden’s administration has slashed its target for Covid-19 vaccine donations abroad this year, amending a contract with Pfizer Inc. in the latest sign that world demand for the shots has collapsed. Under the revised deal, a total of 600 million Pfizer doses will be made available to the US by the end of the year, giving ...

  Bloomberg Salesforce Inc. Co-Chief Executive Officer Marc Benioff said the company will continue to make acquisitions, while focusing more immediately on integrating companies it already bought. “We’ve bought 60 companies — we’ll always buy companies,” Benioff said in an interview with Bloomberg Television from the software giant’s annual Dreamforce conference. Meanwhile, Salesforce is still integrating employees of recently acquired ...

  Bloomberg FedEx Corp. declined after the new CEO’s plan to cut costs and raise shipping rates fell flat with Wall Street, leaving investors concerned about deep challenges including slowing demand and elevated expenses. The courier said it will cut flights, defer projects and close offices as it seeks as much as $2.7 billion in savings this fiscal year. The ...

  Bloomberg Global bond yields surged and stocks extended declines at the end of a week that underscored expectations for tighter monetary policy and a slowing economy. A dollar gauge rose to yet another record and 10-year Treasury yields to the highest in more than a decade, while UK bonds plunged and the pound fell as markets priced in a ...