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When Steve Bannon described Brazil’s 2022 presidential election as the “most important of all time in South America”, the former Trump adviser had at his side a man as close as anyone to Brazil’s president Jair Bolsonaro — his son Eduardo. Introduced by Bannon at an event in South Dakota last year as the “third

Matt Raynor is stressed. The 53-year-old chair of Raynor Foods has recently approved a £1,200 signing-on bonus for sandwich makers; tonight he will work a six-hour picking and packing shift at the company’s Essex plant because of staff shortages. “It’s been the worst two-and-a-half years of my life, with the disruption, the chaos,” he says.

UG Investment, one of the oldest hedge funds specialising in Chinese markets, is planning to open its first office outside greater China to step up investment in south-east Asia in a move that would help it guard against the risks from any conflict between China and Taiwan. The fund, which manages assets of about $4bn,

Joe Biden has tested positive again for Covid-19, three days after announcing he was negative and resuming his in-person White House activities. The US president’s doctor, Kevin O’Connor, said Biden’s case was an example of “rebound” positivity, which sometimes occurs in patients who have taken Pfizer’s Covid-19 antiviral drug. “The president has experienced no re-emergence

Foreign investors have pulled funds out of emerging markets for five straight months in the longest streak of withdrawals on record, highlighting how recession fears and rising interest rates are shaking developing economies. Cross-border outflows by international investors in EM stocks and domestic bonds reached $10.5bn this month according to provisional data compiled by the

Zambia’s official creditors led by China have agreed to provide debt relief to the southern African nation, paving the way for an IMF bailout and setting a precedent for how Beijing could work with other lenders to tackle the threat of a wave of defaults across emerging markets. A committee of creditors co-chaired by China

The chief executive of KPMG’s business in the United Arab Emirates has held face-to-face meetings with key clients in an attempt to shore up confidence in the firm following weeks of unrest relating to his leadership and complaints about governance. Nader Haffar, head of KPMG Lower Gulf since 2018, and other senior leaders at the

Europe’s lenders have endured a painful decade waiting for interest rates to rise. But just as central banks finally start to move, the long-awaited earnings windfall is being threatened by looming recession and fears that cash-strapped governments might hit lenders with new taxes. Last week, the European Central Bank raised interest rates for the first