The nine most terrifying words in the English language, Ronald Reagan once joked, are “I’m from the government, and I’m here to help.” For anyone involved in commodity markets, there’s a still more alarming version: “I’m from the Chinese government, and I’m here to stabilise prices.” That’s reason to be highly skeptical that Beijing’s plans to rein in the wild ...

  Russia’s war for Ukraine’s territory is being waged with tanks and artillery, but the battle for the world’s hearts and minds is being fought largely on social media — and there, at least, Vladimir Putin is losing. Cell phone videos of desperate Ukrainians huddled in subways have a power difficult to convey in words. Images captured by ordinary citizens ...

Bloomberg A Ukrainian delegation led by the defense minister began talks with Russian officials on the fifth day of an invasion that’s triggered a flurry of sanctions against Moscow and sent Russian markets into a tailspin. Ukrainian President Volodymyr Zelenskiy has voiced skepticism that the talks, taking place on the country’s border with Belarus, would yield results but said he ...

  Bloomberg President Volodymyr Zelenskiy appealed to the European Union to fast-track membership for Ukraine. But despite support from several member states, the process is an arduous one and typically stretches out for years. “I am sure it is fair. I am sure we deserve this,” Zelenskiy told reporters Monday at a briefing at the presidential palace. “I am sure ...

  Bloomberg North Korea said it conducted an “important” test for a reconnaissance satellite over the weekend, launching its first rocket with ballistic missile capability in a month as global attention is focused on Ukraine. Its official Korean Central News Agency said Monday the launch that took place a day earlier helped test high-definition photography and data-transmission systems and attitude ...

  Bloomberg Two Ukrainian facilities containing nuclear waste suffered damage amid Russia’s now four-day-old invasion, international monitors reported. Missiles hit a radioactive waste-disposal site in Kyiv, and an electrical transformer was damaged in a similar depot in Kharkiv, according to an email from the International Atomic Energy Agency. Inspectors are still awaiting radiation measurements from local authorities to determine the ...

Bloomberg As China holds off in publicly criticizing Russian President Vladimir Putin’s invasion of Ukraine, a rare debate has emerged on Chinese social media over the military action by a close diplomatic partner. Images of global anti-war protests — including in Russia— circulated on China’s Twitter-like Weibo over the weekend, as Putin’s forces shelled Ukrainian cities. Articles mocking Russia’s limited ...

  Bloomberg The euro zone could be vulnerable to stagflation in the wake of the Russian attack on Ukraine, according to European Central Bank Governing Council member Mario Centeno. The Portuguese governor, speaking in an interview in Lisbon on Monday, said he favours continuing the monetary policy “normalization” flagged by officials in recent weeks, though he acknowledged that the conflict ...

  Bloomberg Toronto-Dominion Bank agreed to buy First Horizon Corp for $13.4 billion, putting its massive capital stockpile to use for its largest deal ever and expanding its presence in the US Southeast. The Canadian bank will pay $25 a share in cash for Memphis, Tennessee-based First Horizon, according to a statement Monday. The purchase price is about 37% higher ...

  Bloomberg US stock index futures slumped on Monday following a weekend of mounting sanctions on Russia, kicking off another potentially tumultuous week for equity investors. March contracts on the S&P 500 Index slid as much as 2.9% before trimming losses to 1.5% in New York. Futures on the Nasdaq 100 and the Dow were each down 1.3%. The poor ...