Bloomberg Delays from congestion at southern Chinese ports triggered by fresh Covid-19 outbreaks are rippling through global supply chains, threatening to inflate costs and exacerbate disruptions. A cargo vessel operated by Cosco Shipping Lines Co will skip a scheduled port stop in Singapore this month because of delays in China, according to alliance partner Ocean Network Express Holdings Ltd. One ...

Bloomberg A top Indian fund manager is shunning lower-rated rupee corporate bonds until the impact of the world’s worst Covid-19 crisis on weaker borrowers is better understood. The level of stress in the economy especially for small- and medium-sized enterprises is still unclear after states locked down to curb the spread of a second virus wave from March, said Dhawal ...

Bloomberg Just eight months after celebrating a narrow escape from financial disaster, Chinese billionaire Hui Ka Yan finds himself back in crisis-fighting mode. Resurgent concerns about the health of China Evergrande Group, Hui’s flagship property company, have pushed its stock to within a hair’s breadth of the lowest level since March 2020. Bondholders are rushing for the exit too, spooked ...

Bloomberg It was supposed to be another sign of Joe Biden bringing together US allies left adrift under four years of Donald Trump: The leaders of Japan and South Korea sitting down for a meeting at the Group of Seven summit. Yet Japanese Prime Minister Yoshihide Suga and South Korean President Moon Jae-in failed to hold the first substantive direct ...

Bloomberg Former Malaysian prime minister Najib Razak faltered in his bid to get a high court to halt bankruptcy proceedings against him for failing to pay a tax bill totaling 1.74 billion ringgit ($420 million). Kuala Lumpur High Court Judge Ahmad Bache on Monday dismissed Najib’s application for a stay of execution, according to an email exchange between the court ...

Bloomberg Myanmar’s ousted leader Aung San Suu Kyi was expected to be in court on Monday as her first trial begins on charges brought by the military junta after it seized power earlier this year. Suu Kyi and former President Win Myint, who have been in detention since the February 1 coup and face multiple charges, are expected to testify ...

Bloomberg The US Supreme Court rejected appeals by two members of a white supremacist group convicted under a federal anti-riot law for attacking counter-protesters during the deadly 2017 “Unite the Right” rally in Charlottesville, Virginia. The men, Michael Paul Miselis and Benjamin Drake Daley, argued unsuccessfully that the 1968 Anti-Riot Act violates the Constitution by punishing protected speech. A federal ...

Bloomberg About 5,000 Danish nurses are preparing to go on strike from Saturday, after their union failed to reach an agreement with employers over pay. The Danish Nurses’ Council rejected the wage proposal put forward in Copenhagen, Grethe Christensen, the group’s chair, said at a press conference. The council has made the case that nurses, who are predominantly female, have ...

Bloomberg Indian monetary policy makers are tolerating inflation rates higher than their 4% medium-term target while they focus resources on an economic rebound. Economists see the Reserve Bank of India (RBI) taking a grin-and-bear it approach to price pressures as it seeks to help Asia’s No. 3 economy recover from one of the world’s worst coronavirus outbreaks. The RBI has chosen ...

Bloomberg Toronto-Dominion Bank (TD) was found not liable for losses related to convicted fraudster Allen Stanford’s Ponzi scheme, with an Ontario judge rejecting a $4.5 billion negligence claim against the firm. The lender doesn’t need to pay the claim filed by trustees trying to recover losses from Stanford investors because Toronto-Dominion “did not know or have any reason to suspect ...