Leader of Secretive Church at Center of South Korea’s Virus Outbreak Is Arrested

Leader of Secretive Church at Center of South Korea’s Virus Outbreak Is Arrested

SEOUL—The leader of the mysterious church at the center of South Korea’s major Covid-19 outbreak was arrested Saturday for withholding and falsifying records, which allegedly hobbled the government’s early efforts to curb the spread of the virus. Lee Man-hee, the 88-year-old leader of the Shincheonji Church of Jesus, was questioned for more than eight hours […]

HSBC Sets Aside $3B for Virus Loan Losses

HSBC Sets Aside $3B for Virus Loan Losses

HSBC, Europe’s largest bank, said Tuesday it had increased loan loss provisions by more than 400% as it anticipates “severe recession events” due to the coronavirus pandemic. The increase in HSBC’s expected credit losses (ECL) for the first quarter to $3 billion from...