Bloomberg Philippine President Rodrigo Duterte said China remains a benefactor, as the Southeast Asian nation seeks to increase vaccine delivery from the mainland amid brewing tensions in disputed waters. “China remains our benefactor,” Duterte said. “Just because we have a conflict with China doesn’t mean to say that we have to be rude and disrespectful.” Duterte made the comment hours ...

Bloomberg It’s not just India. Fierce new Covid-19 waves are enveloping other developing countries across the world, placing severe strain on their healthcare systems and prompting appeals for help. Nations ranging from Laos to Thailand in Southeast Asia, and those bordering India such as Bhutan and Nepal, have been reporting significant surges in infections in the past few weeks. The ...

Bloomberg A week that could set in motion the eventual collapse of the 314-year union between England and Scotland is concentrating City trading desks on market disasters ahead. As Scots enter a May 6 vote pitched on whether there should be a second independence referendum, fund managers and sell-side strategists see potential for massive chaos across the UK’s economic landscape ...

Bloomberg British Prime Minister Boris Johnson said coronavirus lockdown rules are set to be scrapped in seven weeks’ time, as he hailed the UK’s successful vaccine rollout ahead of key elections this week. On the campaign trail, Johnson said the pandemic data was likely to allow people in England to stay overnight with friends or relations, with indoor hospitality able ...

Bloomberg Australia’s central bank will maintain its highly supportive policy settings despite surging growth and falling unemployment, as it faces up to the even bigger challenge of lifting wages and inflation from record lows. Reserve Bank of Australia Governor Philip Lowe is set to keep interest rates and three-year yield target unchanged at 0.10%, while maintaining the current pace of ...

Bloomberg Bank of America Corp (BofA) is devoting more resources to fighting cyber attacks after seeing a jump in threats amid the pandemic. The company’s centralised global information-security unit has boosted spending in recent years to about $1 billion annually, according to chief operations and technology officer Cathy Bessant. That’s mostly allocated to staff and technology to bolster cyber defenses. ...

Bloomberg Credit Suisse Group AG Chairman Antonio-Horta Osorio bought 1.1 million francs ($1.2 million) of shares in a sign of confidence he can turn the bank around from one of the most turbulent periods in its history. An undisclosed board member bought the stock, according to a Swiss stock exchange filing dated May 3. A spokesperson for the bank confirmed ...

Bloomberg Yes Bank Ltd, once at the center of India’s biggest financial bailout, will turn its focus on boosting lending to businesses this year after succeeding in winning back depositors, Chief Executive Officer Prashant Kumar said. Regaining depositors and raising capital were first order of business for Kumar, who took over the reins of Yes Bank in March 2020 after ...

Bloomberg Westpac Banking Corp’s half-year profit climbed as a continued recovery in the nation’s economy drove a further reduction in pandemic loan-loss provisions at Australia’s second-largest lender. Cash earnings rise to A$3.5 billion ($2.7 billion) in the six months through March 31, compared with A$993 million in the same period a year earlier, the Sydney-based bank said in a statement. ...

Bloomberg Bank of Nova Scotia agreed to acquire an additional 7% stake in its Chile operations from the Said family for about C$500 million ($400 million), putting to work some of the excess capital it has built up during the Covid pandemic. The purchase, which is subject to regulatory approvals and other conditions, would boost its ownership of the operation ...