Bloomberg Business

(Bloomberg) — Germany’s federal government plans to issue a record volume of debt next year to help fund generous aid for households and companies hit by the energy crisis.

German Chancellor Olaf Scholz called for closer cooperation between the US and the European Union, urging the transatlantic allies to resolve differences over green subsidies pushed by President Joe Biden’s administration.

China asked some of the nation’s biggest banks to help stabilize the domestic bond market after a wave of fund redemptions by retail investors fueled the biggest credit selloff since 2015, according to people familiar with the matter.

Chinese stocks are a buy even after a huge reopening rally and any dips are a chance to add positions, according to two of Europe’s biggest asset managers.

Short-term power prices in Europe soared again Wednesday even as a forecast of warmer temperatures and higher winds bring signs of relief from the region’s first major test of winter.

Hong Kong’s High Court approved Hong Kong Airlines Ltd.’s HK$49 billion ($6.3 billion) debt restructuring plan, boosting the carrier’s chance of survival after years of financial turmoil.

As Covid spreads rapidly across China, elderly care homes are barricading their doors in an attempt to save their vulnerable patients.

India’s bilateral trade with China rose by a third in the year to March, throwing a spanner in Prime Minister Narendra Modi’s drive to wean the South Asian nation from relying on its larger neighbor for cheap imports and promote a thriving domestic industry.

Russian billionaire Alexander Ponomarenko’s lost his bid to lift the asset freeze of a villa he bought over a decade ago for €83.5 million ($88.9 million).