Russell will remain on the board following his departure, the company said Wednesday in a

US Defense Secretary Lloyd Austin reinforced a pledge that Washington and its allies will continue supplying military aid to Ukraine to help it repel Russia’s invasion “for as long as it takes.”

Ukrainian President Volodymyr Zelenskiy earlier vowed to “liberate” Crimea as speculation swirled about the cause of a major fire at an air base on the peninsula annexed by Russia in 2014. “This Russian war against Ukraine and against all of free Europe began with Crimea and must end with Crimea -- its liberation,” Zelenskiy said.

Bloomberg Washington Correspondent Joe Mathieu delivers insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy.Joe spoke with former White House Acting Chief of Staff Mick Mulvaney, former Assistant U.S. Attorney, Kimberly Wehle on the FBI search of Donald Trump's Florida home. Bloomberg Congress and Tax reporter Laura Davison on the court ruling that Donald Trump’s tax returns must be turned over to the House Ways and Means Committee. Plus, our politics panel Bloomberg Politics Contributor Rick Davis and Kevin Walling of HG Creative Media on President Biden's health, the CHIPS signing ceremony at the White House, and the president's best week ever being overshadowed by the FBI search at Mar-a-Lago. See omnystudio.com/listener for privacy information.

Natural gas overtook nuclear as the biggest source of power in Europe last month, highlighting the challenge of replacing the fuel ahead of winter when supply will get more scarce. 

Nuclear power lost the top spot for the first time in two years, mainly due to French reactors being hobbled by extended outages, according to data from Rystad Energy AS. At the same time, the continent has faced low wind power and hydro output has been restricted by heat and drought.

Donald Trump said he’s declining to answer questions by the New York attorney general, invoking his Fifth Amendment right against self-incrimination as he sits for a deposition in her probe into potentially fraudulent asset valuations by his company. 

“Under the advice of my counsel and for all of the above reasons, I declined to answer the questions under the rights and privileges afforded to every citizen under the United States Constitution,” Trump said in an emailed statement released shortly after he arrived at the attorney general’s office in New York City Wednesday morning. “I once asked, ‘If you’re innocent, why are you taking the Fifth Amendment?’ Now I know the answer to that question.”

India’s central bank released guidelines for digital lending, targeted at bringing transparency and data protection to the business after complaints started mounting over unfair recovery practices, with many players capitalizing on borrowers’ lack of financial literacy. 

The

Pulled lower by sinking oil prices and a slowdown in summertime demand, the average domestic retail price for regular gasoline hit $4.01 a gallon overnight after more than eight straight weeks of declines, according to data from auto club AAA. The advance in the consumer price index decelerated last month, cooling from a 9% rise in June when fuel prices hit multiple record highs.

France has lost its position as Europe’s biggest exporter of electricity as the nation struggles with extended outages at its nuclear power fleet.

France’s position has dramatically changed from a year ago as it needed to import more power than it exported during the first half of this year, according to energy data analyst

The Covid wave fueled by the omicron BA.5 surge is finally starting to ebb in the UK and in some of the harder-hit parts of the US. But why? It’s no longer tenable to argue that disease waves peak and fall primarily because people start taking precautions. People, especially in these two countries, are taking fewer precautions all the time. 

Scientists are starting to get a handle on the complex factors that drive waves up and down. Behavior patterns are just one small factor. Changing seasons, new contact patterns and waning immunity can drive waves up, and growing immunity can drive them back down.

Roman Abramovich’s cream-colored Kensington mansion has more than a dozen bedrooms and police vans posted at each end of its tree-lined street. Nearby neighbors include British royals, steel magnate Lakshmi Mittal and Warner Music Group owner Len Blavatnik.

It’s one of several London assets the Russian billionaire acquired in recent decades that have helped make the city the hub of his fortune. But that foothold has proven tenuous in recent months as his prize possessions in the English capital — from Chelsea Football Club to luxury homes to a stake in London-based steel group Evraz Plc — have been sold or frozen following Russia’s invasion of Ukraine.

Japanese Prime Minister Fumio Kishida replaced the female minister in charge of tackling the country’s falling birthrate and installed a man who sought to deepen his understanding of the issue by trying out a “pregnancy belly.”

Kishida reshuffled his cabinet Wednesday and named former Bank of Japan official Masanobu Ogura, 41, to take over the post from ruling party veteran Seiko Noda, a mother of one. In

The California-based company makes electric-powered, vertical takeoff and landing vehicles, or eVTOLs. Its Defense Department deal, which runs through 2025, more than doubled in size from a $30 million value and now includes the US Marine Corps. The contract reflects recent interest from Washington in electric aircraft that are cheaper to maintain than traditional helicopters and have zero emissions. 

Hangzhou Lianke Meixun Biomedical Technology Co., which is well-known in China for its DXY websites that fact check health claims and explain science to the public, had a handful of its Weibo social media accounts labeled as “violating regulations” and suspended. No further details were given. 

China’s economy will face increasing risks if interbank borrowing rates stay too low for too long, a former central-bank official says.

Excessively cheap funding costs may drive more financial institutions into leveraged bond trading, where they borrow more short-term cash to invest in longer-maturity debt, said Sheng Songcheng, previously head of the statistics and analysis department at the People’s Bank of China.

“The current gas pricing uncertainty holds risk” for the biggest buyers, the Industrial Gas Users Association of Southern Africa said in a statement Wednesday, referring to a 96% price increase that took effect Aug. 1.

As grocery prices soar, food inflation is hitting people of color much more than other groups.

Almost 40% of Native American, 32% of Black and 30% of Latino people reported having serious problems affording food, according to a study conducted by the Robert Wood Johnson Foundation with Harvard and NPR. Meanwhile, 21% of White adults said the same.

An ally of former Pakistan premier Imran Khan was arrested and a TV channel seen to be close to his party has been pulled off air for allegedly broadcasting “seditious” content against the South Asian country’s powerful army. 

Pakistan’s political risks have remained elevated since Khan was ousted in April through a parliament no-confidence vote. The former leader has continued to accuse Prime Minister Shehbaz Sharif and the Pakistani military of conspiring with the US to remove him from power -- an allegation all three have denied.