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Bloomberg President Joe Biden is preparing for his first face-to-face meeting with the top two congressional Republicans, Mitch McConnell and Kevin McCarthy, just as the GOP is ramping up opposition to his $4 trillion economic plan, a rallying point for the party amid infighting over allegiance to former President Donald Trump. After McConnell declared that he’s “100%” focused on blocking ...

Bloomberg The Philippines plans to convert a South China Sea island into a military hub amid rising tensions with China. The Philippine military will ask President Rodrigo Duterte to fund a logistics hub on Thitu Island, its chief General Cirilito Sobejana said, as the nation seeks to sustain patrols in the South China Sea. It’s also planning to place high-resolution, ...

Bloomberg Boris Johnson’s administration plans to push through new government procurement rules by the end of the year, replacing what it sees as excessively “complex” procedures it was tied to in the European Union. Bills on procurement and state aid will be included in the Queen’s Speech on Tuesday in Parliament, people familiar with the matter said. The annual event ...

Bloomberg South Korean President Moon Jae-in plans to use his final year in office to reach an “irreversible peace” on the Korean Peninsula, and will seek help in salvaging one of his policy priorities at a summit next week with President Joe Biden. Moon said in a speech marking the start of the final year of his single, five-year term ...

Bloomberg Vaccines need to be viewed as a global public good and the intellectual property, knowledge, technology and data related to Covid-19 vaccines should be available to all, South African President Cyril Ramaphosa said in his weekly letter. South Africa and India have recently submitted proposals on the World Trade Organization’s Agreement on Trade-Related Aspects of Intellectual Property Rights that ...

Bloomberg India’s health authorities warned about a fungal infection seen in some Covid-19 patients which can disfigure facial features and even kill, as the country continues to grapple with the world’s fastest-growing coronavirus outbreak. Mucormycosis, also called the “black fungus” infection, can damage the sinuses or lungs when the spores are inhaled, the Indian Council of Medical Research (ICMR) said ...

Bloomberg UBS Group AG will pay a $40,000 one-time bonus to its global banking analysts when they are promoted, doubling what some competitors are offering, as lenders seek to reward younger employees weighed down by a surge in dealmaking. Starting as soon as this month the Swiss bank will pay the sign-on bonus to analysts promoted to associates on top ...

Bloomberg Nomura Holdings Inc. announced business partnerships at home, Australia and New Zealand as Japan’s biggest brokerage seeks to move past a $2.9 billion hit from the implosion of Archegos Capital Management. Nomura signed an agreement with three regional Japanese banks to set up a joint venture to provide remote financial consulting services. It also struck up an alliance with ...

Bloomberg Commerzbank AG increased the amount it will pay for a job cuts program to more than 2 billion euros ($2.4 billion), as Chief Executive Officer Manfred Knof overhauls the lender to boost profitability. The German bank’s anticipated costs of “slightly above” 2 billion euros compares with an earlier estimate of about 1.8 billion euros. The lender raised its estimate ...

Bloomberg Credit Suisse Group AG named Neil Hosie head of equities for Europe, Middle East and Africa, replacing Ryan Nelson who stepped down after bank lost $5.5 billion in the collapse of Archegos Capital Management. Hosie will remain as head of equities for Asia Pacific, according to people familiar with the decision who asked not to be identified since the ...