Bloomberg The Biden administration included Taiwan among the 110 invitees to its upcoming democracy summit, the State Department announced, a move that’s intended to show solidarity with a key regional partner but risks angering China. Taiwan was invited to join nations, including the UK and Japan, at the December 9-10 virtual summit, the State Department said on its website. The ...

Bloomberg Olaf Scholz is set to succeed Angela Merkel as German chancellor after forging an unprecedented alliance that aims to revamp Europe’s largest economy by tackling climate change and promoting digital technologies. After nearly two months of intense negotiations, Scholz’s center-left Social Democrats said they would present their agreement with the Greens and the pro-business Free Democrats. Details of the ...

Bloomberg Investors looking for ESG strategies have been handed a new group of indexes promising to focus on biodiversity by excluding companies that are found to pose a threat to nature. The Euronext ESG Biodiversity Screened Index series by HSBC Holdings, developed the product together with Euronext NV and Iceberg Data Lab SAS. The idea is to bring liquidity to ...

Bloomberg Atom Bank has moved to a four-day working week, one of the most dramatic flexible working policies introduced by a finance firm since the pandemic upended office norms. The UK fintech, which has 430 employees, moved to a four-day week, the digital lender said in a statement. Contractual working hours will be reduced by 3.5 hours to 34 hours ...

Bloomberg Australia’s central bank will closely monitor risk premiums to judge whether asset prices appear “sensibly valued,” especially at a time of record low interest rates, said Marion Kohler, head of the domestic markets department. “Asset prices increase when risk-free rates are low, and this is part of the monetary transmission mechanism,” Kohler said in the text of a speech. ...

Bloomberg DBS Group Holdings Ltd is facing a second day of outages in its online banking services, marking one of the worst digital disruptions for Southeast Asia’s biggest lender in a decade. The disruptions in DBS’s digital services — an area where the Singapore-based bank has invested in heavily — started early Tuesday and resurfaced on Wednesday. The problems stemmed ...

Bloomberg New Zealand’s central bank raised interest rates for the second time in two months and signalled it will need to tighten policy more quickly than previously expected to contain the inflation. The Reserve Bank’s Monetary Policy Committee lifted the official cash rate by a quarter percentage point to 0.75% on Wednesday, as expected by most economists. New forecasts published ...

Bloomberg The dollar surged past a key level against the yen for the first time since 2017, as the renomination of Jerome Powell as Federal Reserve chair fuelled bets that the US might tighten policy more quickly. The dollar-yen climbed as much as 0.2% to 115.14 — a Japanese market holiday — surpassing the psychologically important 115 level. Treasury yields ...

Bloomberg Citigroup Inc is looking to hire 100 people as part of a new push into digital assets inside its institutional business, according to a person familiar with the matter. As part of the effort, the firm tapped Puneet Singhvi to be its new head of digital assets inside the institutional-clients group, according to a memo to staff seen by ...

Bloomberg US Treasuries rise as traders tempered their expectations for monetary-policy tightening after New Zealand’s measured approach to rate hikes. Oil prices climbed as producers and major consuming nations headed for a confrontation. Signals from the stock market were mixed, with the European benchmark opening higher while US index futures fell modestly. Energy stocks were among the best performers in ...