Bloomberg Business

Pope Francis is expected to leave hospital on Saturday “after the results of this morning’s final tests,” spokesman Matteo Bruni said in a statement.

(Bloomberg) — More US banking turmoil, wider economic fallout, the Federal Reserve losing its inflation focus and even a “financial crash” are among a panoply of dangers troubling economists gathering by Lake Como.

Nestle SA, the world’s biggest food group, is among final bidders competing to acquire India’s Capital Foods Pvt as it seeks to boost its presence in the fast-growing economy, people familiar with the matter said.

Japan and China finished setting up a military hotline aimed at reducing tensions between the two largest economies in Asia, just ahead of a rare meeting of their foreign ministers in Beijing.

Chinese authorities opened a probe into former Bank of China Ltd. Chairman Liu Liange, the most senior banker to become implicated in a broad crackdown on corruption in the financial sector that was unleashed in late 2021.

Huawei Technologies Co. posted its first annual profit decline in more than a decade, after years of US sanctions all but obliterated its smartphone arm and compelled the Chinese telecom gear maker to ratchet up research spending.

The International Monetary Fund is calling on its wealthier member nations to contribute to a trust for the poorest countries that is short billions of dollars at a time of rising demand from economies in debt distress.

Underlying inflation in the euro area hit a record in March, handing ammunition to European Central Bank officials who say interest-rate increases aren’t over yet.

Slowing growth and relentless inflationary pressures mean there will be a big divide between winners and losers this earnings season, according to a deputy chief investment officer at BlackRock Inc.