Bloomberg The UK, US and Australia said they are working on developing hypersonic weapons — military technology already deployed by Russia in Ukraine — as part of their new trilateral security pact called AUKUS. Their plan is to “accelerate development of advanced hypersonic and counter-hypersonic capabilities,” according to a joint statement. The alliance wants to counter the threat of ...

  Bloomberg Prime Minister Imran Khan’s party is on the verge of losing control of Pakistan’s biggest province days after it lost its majority in the federal parliament, raising the stakes before the Supreme Court’s ruling on his disputed call for national elections. After losing his majority in the lower house National Assembly, the former cricket star’s Tehreek-e-Insaf party is ...

  Bloomberg Barclays Plc is developing a global private credit strategy, according to several people familiar with the situation, seeking to take part in the fast-growing $1.2 trillion asset class. The plans are at an early stage, and the details on exactly how Barclays will enter private credit are still under discussion, so the bank hasn’t reached out to external ...

  Bloomberg Citigroup Inc hired four more health-care investment bankers, doubling down on efforts to increase its market share in the sector. The hires were announced in a memo to staff from Chuck Adams, the global head of the health-care, consumer and wellness investment-banking group. Among the changes: Michael Brock, the former strategy officer at Acepodia, joined the bank last ...

  Bloomberg It’s unanimous: All six of Canada’s major commercial lenders now expect the Bank of Canada to move ahead with a jumbo rate hike next week. Canadian Imperial Bank of Commerce, National Bank of Canada and Toronto-Dominion Bank ramped up their calls for the central bank to raise its policy rate by half a percentage point to 1% at ...

Bloomberg Bank of Japan (BOJ) Governor Haruhiko Kuroda won’t change his ultra-low interest rate policy in the coming quarters, even though he’ll come under political pressure to do so over the weak yen, according to one of the country’s former chief currency officials. “The political pressure from the people, parliament and media is going to be a bit higher,” said Hiroshi ...

  Bloomberg China’s central bank vowed to boost confidence and provide more effective support to the economy, amid mounting growth pressure from the country’s worst Covid-19 outbreak since Wuhan. The People’s Bank of China (PBOC) reaffirmed it will step up the magnitude of monetary policy and make it more forward-looking, targeted and autonomous, according to a statement. The central bank ...

  Bloomberg The European Central Bank (ECB) is right to press forward with its plan to normalise monetary policy even as the war in Ukraine creates “elevated uncertainty,” executive board member Isabel Schnabel said. “Continuing the path of policy normalisation is therefore the appropriate course of action,” Schnabel said in a speech in Cernobbio, Italy. “The speed of normalisation, in ...

  Bloomberg Selling is picking up again in the priciest corner of the US stock market — that of fast growth technology shares — as investors whipsaw between seeking higher returns and safety. The Nasdaq 100 Stock Index is wrapping up its worst two-day drop in nearly a month as traders that flocked to the tech sector in recent weeks ...

  Bloomberg Markets are showing signs of recovery as traders stepped in after a selloff sparked by hawkish minutes from the Federal Reserve. Europe’s Stoxx 600 gained 0.4%, boosted by a rally in shares of Atlantia SpA, the billionaire Benettons’ highway and airport group. Atlantia added 10% in Italian trading after Global Infrastructure Partnersand Brookfield Asset Management Inc said they ...