Bloomberg Kenya plans to inject 20 billion shillings ($176 million) of capital into the country’s cash-strapped national airline, which is battling to survive after years of losses and a mounting debt pile. The funding, detailed in supplementary budget documents submitted to parliament, “is dependent on certain restructuring milestones,” Kenya Airways Plc Chairman Michael Joseph said by text message. The ...

  Bloomberg Mike Pence rejected Donald Trump’s claims that as vice president he had the power to void the 2020 election result and refuse to certify President Joe Biden’s victory, breaking from his old boss as both men weigh possible White House bids in 2024. “I heard this week that President Trump said I had the right to ‘overturn the ...

  Bloomberg Australia’s Prime Minister Scott Morrison, lagging in the polls before an election later this year, is dealing with the fallout from a leaked text message from his deputy Barnaby Joyce branding the premier “a hypocrite and a liar.” Joyce has apologized for the texts, which were sent in March last year before he took the deputy prime minister ...

  Bloomberg Hours after one of Boris Johnson’s longest-standing allies quit — with a stinging rebuke of his judgment — the UK prime minister gathered shell-shocked staff in Downing Street to tell them “change is good.” But while Johnson has tried to put his trademark optimistic spin on yet another week of turmoil, the ebullient persona that carried him to ...

  Bloomberg President Emmanuel Macron would face conservative candidate Valerie Pecresse and defeat her in a runoff if elections were held now, according to a poll. Support for Macron was at a field-leading 24% in the Ipsos Sopra Steria poll, followed by Pecresse of the Republicans at 16.5%. If replicated in the first round of voting in April, that outcome ...

  Bloomberg Northern Ireland’s Democratic Unionist Party cranked up the prospects of a prolonged political crisis following the resignation of the region’s First Minister, warning it won’t return to the power-sharing Executive unless issues related to Brexit are resolved. “The DUP will not be involved in forming a government in Northern Ireland until those issues have been satisfactorily addressed,” the ...

  Bloomberg Europe’s biggest bank payout-plan failed to excite investors who’ve grown accustomed to fat payout ratios and dividends at Intesa Sanpaolo SpA. The Milan-based lender said it will disburse more than 22 billion euros ($25 billion) to shareholders through 2025. While that put it ahead of Italian rival UniCredit SpA in the contest to offer Europe’s bank investors the ...

  Bloomberg Bank of America Corp (BofA) boosted Chief Executive Officer Brian Moynihan’s compensation 31% to $32 million for 2021, a year in which the firm set a record for profitability. His package includes $1.5 million in salary and a $30.5 million in stock-based incentive awards, the Charlotte, North Carolina-based lender said in a filing. A year ago, Moynihan took ...

  Bloomberg As interest rates finally inch up, European banks are telling investors to expect something they haven’t seen in almost 15 years: returns in the teens. Several of the region’s top lenders recently raised their profitability targets as they expect higher income from lending. The upgrades range across the whole of Western Europe, from Nordea Bank in Helsinki to ...

  Bloomberg China called on banks to boost real estate lending in the first quarter and eased a key debt restriction for developers, a sign that authorities are becoming increasingly concerned about the industry’s liquidity crisis. In previously unreported window guidance issued last month, regulators told banks to step up lending to developers after at least two quarters of consecutive ...