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  “The better part of valor is discretion,” Shakespeare wrote in Henry IV, Part One. Chancellor of the Exchequer Kwasi Kwarteng bowed to the inevitable and U-turned on his plans to lower the highest rate of income tax. The Bank of England should mirror his caution by shelving plans to sell its bond holdings for at least the rest of ...

  Treasury securities play a crucial role in global finance. They’re widely viewed as a close substitute for dollars, a safe place to park everything from a company’s cash to a central bank’s reserves. They provide a benchmark for determining the value of a vast array of assets, including mortgages, corporate bonds and shares in public companies. They’re the ultimate ...

  Bloomberg Boeing Co. doesn’t expect its 737 Max 10 model to be ready for certification until next summer at the soonest, US aviation regulators told a key lawmaker. The planemaker’s latest plan was relayed in a letter from Federal Aviation Administration (FAA) acting Administrator Billy Nolen to Senator Roger Wicker, a Mississippi Republican. The comments provided the latest indication ...

  Bloomberg Nestle SA, the world’s largest coffee company, will invest more than 1 billion Swiss francs ($1 billion) by 2030 to encourage farmers supplying its Nescafe brand to employ more sustainable farming methods as climate change and extreme weather threaten crops. Nestle will offer training about the best planting techniques as well as cash incentives to motivate farmers to ...

Bloomberg Poland has spoken to the US about sharing atomic weapons to counter the growing threat from Russia, President Andrzej Duda said, after the Kremlin stepped up nuclear saber-rattling over Ukraine. The biggest eastern European Nato member has been ramping up military spending following Russia’s invasion of neighboring Ukraine, but until now officials haven’t said they’ve spoken with allies seeking ...

Bloomberg Taiwan pledged to work closely with the US and other allies to prevent China’s military from acquiring state-of-the-art technology, as Washington steps up efforts to contain the world’s No. 2 economy. Taiwan, home to the world’s largest semiconductor foundry, will keep its advanced chip development at home, while adopting measures to stop its tech from being used by the ...

Bloomberg A Myanmar military-linked party has named a close ally of junta chief Min Aung Hlaing as its leader, a sign the country is gearing up for national elections next year. The Union Solidarity and Development Party’s executive members elected Khin Yi as the new chairman to replace Than Htay who resigned due to his health. The party had also ...

  Bloomberg Ethiopia’s government accepted an invitation by the African Union to talks about ending the nation’s two-year civil war. The continental body invited Ethiopia’s government and dissident Tigray fighters to talks in South Africa scheduled for October 8, according to a copy of the letter seen by Bloomberg that was verified by an African Union official. South African Department ...

Bloomberg Asia’s financial hub is letting people go on a proper holiday for the first time since the pandemic began. For bankers in Hong Kong, the chance to take a break also speaks to a steep fall in dealmaking activity — in the city, and across the region. While the decline has been global, it’s been particularly acute in Asia ...

Bloomberg Indonesia’s central bank could settle for quarter-point moves at its upcoming policy rate meetings after September inflation came in lower than estimates despite the fuel price hike, economists said. Maybank Investment Banking Group trimmed its forecast for Indonesia’s 2022 average inflation to 4.5% from 5.2%. To be sure, the increase in transport fares and the rebound in consumer demand ...