Bloomberg Business

Faulty Credits Tarnish Billion-Dollar Carbon Offset Seller

South Pole, the world’s leading purveyor of offsets, is facing allegations that it exaggerated climate claims around its forest-protection projects. The uncertainty could influence how legions of companies try to slash their emissions.

Ex-Goldman Banker Ng Must Forfeit $35.1 Million Over 1MDB

Former Goldman Sachs Group Inc. banker Roger Ng, who was sentenced to 10 years in prison for his role in the global 1MDB fraud, was ordered to forfeit $35.1 million by a judge who rejected his claims that Malaysia already took all of his money.

Short Sellers Step Up Bets Against Office Owners on Bank Turmoil

Money managers have stepped up their bearish bets against office landlords, wagering that the US regional banking crisis will slash the availability of credit to property owners that were already suffering from the pandemic and rising interest rates.

Brazil Pushes China for Closer Farm Ties Ahead of Lula’s Visit

Hundreds of Brazilian agribusiness leaders flooded Beijing this week even before the arrival of President Luiz Inacio Lula da Silva, who’s betting a high-stakes trip to China will further open the world’s biggest commodities importer for his country’s products, helping him make peace with a sector that overwhelmingly supported his predecessor in last year’s election.

NYPD Investigating Envelope Sent to Manhattan DA’s Building

The New York Police Department is investigating a suspicious envelope filled with unidentified white powder delivered to the building that houses the Manhattan District Attorney’s office, which is in the midst of a grand jury probe of Donald Trump over a payment to adult film star Stormy Daniels.

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