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  Bloomberg President Joe Biden said Russia will “pay a heavy price” if any of its forces move across the border into Ukraine after earlier suggesting Western allies might struggle to react to a small-scale attack. As the top US diplomat meets Russia’s foreign minister in Geneva, Biden said he has issued clear warnings to Russia’s President Vladimir Putin, who ...

  Bloomberg US President Joe Biden will seek to win Japan’s backing for a common response to Russia if it attacks Ukraine during his first virtual summit on Friday with Japanese Prime Minister Fumio Kishida. Ahead of the talks, a senior administration official said Biden wants to discuss a “strong, united response that would result from further Russian aggression toward ...

  Bloomberg Britain’s top foreign and defense officials held talks with their Australian counterparts in Sydney on Friday, focusing on advancing a security pact involving nuclear-powered submarines and sharing notes on countering China’s growing clout. UK Foreign Secretary Elizabeth Truss and Secretary of State for Defense Ben Wallace met with Australian Minister for Foreign Affairs Marise Payne and Minister for ...

  Bloomberg North Korea may be looking at test firing its first intercontinental ballistic missile in more than four years as the strongest move it could soon make to ratchet up tensions with the US, a South Korean lawmaker said after a briefing by the country’s spy agency. “The most probable card for provocation that North Korea could play would ...

  Bloomberg US prosecutors charged four Belarus officials with airline piracy over the diversion of a Ryanair flight last year that resulted in the arrest of a dissident journalist. Ryanair 4978 was destined for Vilnius, Lithuania, on May 23 but was diverted to Minsk, the Belarusian capital, while in Belarus airspace. Belarusian authorities claimed the diversion was due to a ...

  Bloomberg The biggest US banks received a clear message in recent days: Runaway expenses won’t cut it. Lenders that reported higher-than-expected costs, including JPMorgan Chase & Co., Goldman Sachs Group Inc. and First Republic Bank, had their shares pummeled by investors. Bank of America Corp., (BofA) on the other hand, showed companies a different way to manage costs despite ...

  Bloomberg JPMorgan Chase & Co raised Chief Executive Officer (CEO) Jamie Dimon’s total compensation 10% to $34.5 million for his work in 2021, the firm’s most profitable year on record. The package for Dimon — often the highest-paid CEO in US banking — includes $28 million of restricted stock tied to performance, an annual base salary of $1.5 million ...

  Bloomberg A pledge by China’s central bank to open its monetary policy tool box wider to spur an economy under strain has fueled debate over its next move. With the People’s Bank of China (PBOC) having already cut interest rates and the ratio of cash banks must hold in reserve, economists are betting authorities will turn to some of ...

  Bloomberg Citigroup Inc, which has been shedding some of its retail operations as part of a global revamp, is in advanced talks with Taiwan’s Fubon Financial Holding Co. for a sale of its mainland China consumer business, people familiar with the matter said. Taipei-based Fubon has emerged as the likeliest buyer after outbidding rivals, and the two lenders are ...

Bloomberg Malaysia kept its benchmark interest rate at a historic low, maintaining support for an economy hit in recent weeks by floods and the fast-spreading Omicron variant. Bank Negara Malaysia held the overnight policy rate at 1.75% at its first monetary policy meeting of the year, as predicted by all 25 economists in a Bloomberg survey. The central bank has ...