Indonesia Warns $20 Billion Climate Deal Looks Too Expensive
A $20 billion international effort to accelerate Indonesia’s shift away from coal hinges on the availability of low-cost funding — and Jakarta fears there simply isn’t enough.
Bloomberg Business
Wall Street’s Biggest Banks Face a Harsh Reality Check in China
Plans to compete for a larger share of the No. 2 economy’s $60 trillion financial market face challenges from a souring business climate.
UBS Maintains Investment Flows in Taiwan as Tensions Mount
UBS Group AG is maintaining fund flows at its Taiwan wealth unit and expects double-digit growth this year even as tensions with China spook investors.
An AI CEO Went to Washington and Asked for Rules: Key Takeaways
The Senate’s first major hearing on artificial intelligence covered everything from the lighthearted marvels of generative AI to dire warnings about existential threats to society and democracy.
Fires Rage in Canada’s Main Energy Hub, Threatening Region’s Oil Production
Shifting fires across Canada’s main energy-producing province are prompting drillers to throttle back production once again — more than a week after the blazes began — and officials are warning of worsening conditions ahead.
Obesity Alone Didn’t Pose Biggest Heart Risk in London Study
Overweight people with conditions such as blocked arteries were at a higher risk for heart attacks and strokes — and cost the health system far more — than those with just severe obesity in a large study of Londoners.
Petrobras Eases Fears of Fuel Intervention in Policy Shift
Brazilian oil giant Petrobras is shielding domestic consumers from volatile global fuel-market gyrations, bowing to pressure from President Luiz Inacio Lula da Silva who made controlling gasoline costs a key election pledge.
China Would Benefit If US Can’t Pass Next Budget, White House Officials Warn
A failure to fully fund the government for next year would benefit China by hobbling the US’s ability to compete with its chief adversary, three senior Biden administration officials told a Senate panel.
Ex-SVB Chief Refuses to Commit to Giving Up His $10 Million Annual Pay
The former Silicon Valley Bank executive who’s taken the brunt of criticism for the lender’s collapse is refusing to commit to giving up any of the $10 million he received annually from the failed lender.
George Santos Faces Expedited House Probe Pushed by McCarthy
House Speaker Kevin McCarthy said he wants the Ethics Committee to launch an expedited review of scandal-plagued Representative George Santos as Democrats seek to expel the New York Republican from Congress.
