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Bloomberg Scottish First Minister Nicola Sturgeon resigned after more than eight years as head of the country’s government and independence movement in a surprise move that will reverberate across UK politics. Sturgeon, 52, has headed the semi-autonomous administration in Edinburgh since 2014. The decision to step down comes after an unusually turbulent time for Sturgeon. It leaves her Scottish National ...

Bloomberg Pakistan’s former Prime Minister Imran Khan said his party will court arrest to protest the government’s refusal to hold early elections and fight the tough measures being put in place to unlock a crucial loan from the International Monetary Fund (IMF). Khan’s Pakistan Tehreek-e-Insaf party will continue its campaign to push for early elections — and will take to ...

  Bloomberg UK Labour Party leader Keir Starmer blocked his predecessor Jeremy Corbyn from standing as a candidate for the party at the next general election, as the opposition seeks to draw a line under the antisemitism scandals that have plagued its recent past. “Jeremy Corbyn will not stand for Labour at the next general election,” Starmer said morning, in ...

Bloomberg Barclays Plc slumped after posting a surprise drop in profit as revenue missed estimates across every major business line. Inside the corporate and investment bank, dealmakers faced a continued drought, traders fell short of hopes and the bank recorded further losses tied to its leveraged finance portfolio. At the firm’s UK franchise, the net interest margin — a key ...

Bloomberg The European Central Bank (ECB) will scrutinise banker bonuses after finding that compensation structures at many lenders don’t take sufficient account of risk. The indicators used by banks to set bonuses aren’t always clear and “in many instances” rely too much on financial performance instead of risk, controls or cultural and behavioral aspects, the ECB said in a newsletter ...

  Bloomberg Goldman Sachs Group Inc expects to put a tighter leash on hiring this year after embarking on one of the firm’s biggest rounds of job cuts ever, Chief Executive Officer David Solomon said. “We have a much tighter hiring plan in 2023,” Solomon said at a Credit Suisse Group AG conference. “We’re very focused on expenses.” Goldman last ...

  Bloomberg Japanese Prime Minister Fumio Kishida said it would be important for the Bank of Japan (BOJ) to make appropriate decisions on monetary policy as markets change rapidly, indicating his desire for flexibility under the new governorship. Kishida was responding to questions in a parliamentary committee about his nominee for BOJ governor, Kazuo Ueda, and the future of Japan’s ...

  Bloomberg Banks are setting up meetings with fixed-income investors over the next week on behalf of Adani Group, Adani Green Energy Ltd and Adani Transmission. The calls are scheduled for February 16 and February 21, according to a person familiar with the matter. Barclays Plc, BNP Paribas SA, DBS Bank Ltd, Deutsche Bank AG, Emirates NBD Capital, ING Groep, ...

  Bloomberg India is leading a charge among Asia’s emerging-market central banks in rebuilding foreign-exchange stockpiles, which would help them defend their currencies if the dollar rebounds. India, South Korea, Taiwan, and Southeast Asian countries have recouped about $132 billion since November — more than half of what they lost last year — by soaking up dollar inflows, with a ...

  Bloomberg Individual stock investors in India are keeping faith in the country’s $3.1 trillion equity market even after a punishing selloff in Adani group shares threatened to drag down one of the world’s best-performing indexes since the pandemic. Hanoz Mistri is among the small investors in India who believe the carnage that has wiped off about $131 billion from ...