Bloomberg South Korea has successfully test-launched a missile from a submarine, stepping up its strike capabilities and joining a small list of seven other countries to demonstrate the technology. South Korea last week fired the missile from its 3,000-ton Dosan Ahn Chang-ho submarine, a defense ministry official who asked not to be named said on Tuesday. The official spoke after ...

Bloomberg A shadow government comprising of ousted lawmakers loyal to Myanmar’s detained civilian leader Aung San Suu Kyi declared war against the military regime that seized control of the country seven months ago. In a speech posted on social media on Tuesday, the acting president of National Unity Government, Duwa Lashi La called on citizens to revolt against the junta ...

Bloomberg Chancellor Angela Merkel plunged into Germany’s election campaign, warning that the Social Democrats (SPD) would take the country off course in an unusually direct intervention in the contest as her conservatives slumped to a new low in the polls. In a Forsa survey for RTL/ntv, support for the Christian Democrat-led bloc dropped two percentage points to 19%, its lowest ...

Bloomberg The Reserve Bank of Australia (RBA) pushed ahead with a cautious winding back of its bond-buying program, underlining its confidence in the economy’s recovery prospects once a longer-than-expected virus wave abates. Governor Philip Lowe and his board said they will purchase government securities at a pace of A$4 billion ($3 billion) a week, down from A$5 billion previously, until ...

Bloomberg The private-banking units of Citigroup Inc and Credit Suisse Group AG have stopped accepting the bonds of Fantasia Holdings Group Co as collateral amid rising concerns about the Chinese developer’s financial health, according to people familiar with the matter. The banks have assigned a zero lending value to the notes, meaning their private-wealth clients can no longer use them ...

Bloomberg The head of Poland’s central bank pushed back against rising expectations for interest-rate increases, saying lifting borrowing costs now would be “very risky” despite inflation hitting a two-decade high. In an interview with the PAP news service just three days before the next monetary-policy meeting, Governor Adam Glapinski said the bank isn’t ignoring elevated price growth and won’t allow ...

Bloomberg China’s various industry crackdowns from technology to education mean monetary and fiscal policies will likely remain loose on the margin to offset the drag on economic growth, economists at Goldman Sachs Group Inc said. The economy is in a “micro takes and macro gives” environment, where regulatory tightening in specific sectors will likely be accompanied by supportive policy from ...

Bloomberg Morgan Stanley is bringing its program to hire more Black and female traders and salespeople to London, hoping to replicate the success it’s had on Wall Street. The Morgan Stanley Experienced Professionals Program is aimed at recruiting Black or female candidates already working in other industries that might not have considered a career at a bank. The program has ...

Bloomberg India’s rupee looks set to weaken after its rally in August pushed it to the top of the emerging Asian currency charts, according to technical indicators. The dollar-rupee’s relative strength index dropped to 22.8 last week, the lowest level in 11 months, well below the level of 30 that typically indicates an asset is set to change direction. It ...

Bloomberg The Bank of England (BOE) has reversed a policy encouraging staff to return to the office at least one day a week, a person familiar with the matter said. In July, the central bank’s Chief Operating Officer Joanna Place announced the BOE would be rolling-out a return-to-office pilot program that would encourage regular “team days” in the office. The ...