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Bloomberg Ethiopia’s prime minister said he expects conflict in the north of the country to end quickly, dismissing concerns that the fighting may escalate into a full-blown civil war. Federal soldiers continued to clash on Monday with fighters loyal to the Tigray region’s ruling party, six days after Prime Minister Abiy Ahmed ordered forces to respond to an alleged attack ...

Bloomberg President-elect Joe Biden announced a new coronavirus task force as his transition team seeks to fulfill a campaign promise to develop a dramatically different approach than President Donald Trump’s to contain the pandemic. The 13-member task force is composed largely of doctors and public health experts, who will work with Biden, Vice President-elect Kamala Harris and the transition team ...

Bloomberg Myanmar’s ruling party led by Aung San Suu Kyi said it had won enough parliamentary seats to retain power in the country’s second election since the end of military rule almost a decade ago. Suu Kyi’s National League for Democracy (NLD) is on course to win about 390 seats to the national assembly, according to Myo Nyunt, a member ...

Bloomberg Hungarian PM Viktor Orban announced sweeping measures to stem the spread of the coronavirus, in a policy reversal triggered by new cases threatening to overwhelm hospitals. The government will ban public gatherings, expand a curfew to between 8 pm and 5 am, shut restaurants except for take-away and switch secondary schools and universities to distance learning, Orban said on ...

Bloomberg New Zealand central bank (RBNZ) governor Adrian Orr is set to unveil a new monetary stimulus tool aimed at driving borrowing costs to fresh historic lows to spur economic growth. Orr is expected to lay out plans on November 11 to provide cheap loans to banks, giving them scope to further reduce lending rates. The Funding for Lending Program, ...

Bloomberg Bank of England (BOE) Deputy Governor Jon Cunliffe said there is no clarity yet on allowing banks to pay dividends as there may “still be a case” for restrictions until their robustness is assessed, according to The Sunday Times. Policy makers need to study the economic outlook, bank capital and the impact of profitability and losses on the lenders ...

Bloomberg Goldman Sachs Group Inc. cut its year-end Treasury yield forecast as the prospect of a divided Congress under a Democratic president makes another big fiscal stimulus package unlikely. The 10-year yield should fall to around 0.75% by the end of 2020, according to strategists including Praveen Korapaty. That’s well below the 1.05% target that the team had anticipated before ...

Bloomberg Deutsche Bank AG didn’t heed a recommendation from the European Central Bank (ECB) to suspend parts of its leveraged finance operations after the regulator identified shortcomings in how it manages risk in that business, a person familiar with the matter said. Deutsche Bank took remedial action within the given time frame but didn’t follow the ECB’s request to halt ...

Bloomberg HSBC Holdings Plc’s unit in Canada is considering its first euro-denominated covered bond as it expands a market pioneered in the 18th century that 300 years later has the distinction of surviving an economic meltdown relatively unscathed. The lender is weighing up Europe, the largest market for covered bonds, for a deal as soon as next year, according to ...

Bloomberg Societe Generale SA (SocGen) plans to cut 640 jobs in France, mainly at its investment-banking operations, as part of a broader cost savings plan. Part of the reduction relates to SocGen’s decision to stop trading in some of its risker structured products, the bank said in a statement on Monday. The securities business as well as compliance and risk ...