Bloomberg Business

Biden Climate Vow Imperils Indonesian Oil Refinery Loan

The US Export-Import Bank is backing off a plan to lend $99.7 million for an oil refinery expansion in Indonesia, after warnings the support would violate a pledge made by President Joe Biden to stop steering public dollars to foreign fossil fuel projects.

UK Gets Record Demand for Bonds Hedging Against Inflation

The UK received a record level of demand for debt that acts as protection against inflation, with concerns mounting that rising prices aren’t slowing down despite the Bank of England’s interest rate hikes.

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