(Bloomberg) — The European Union suggested changes to its 20-billion-euros ($20.97 billion) plan to finance a shift away from Russian fossil fuels, seeking to alleviate member states’ concerns over the way funds from a carbon market-based tool will be distributed. Read More
(Bloomberg) — Ecuador President Guillermo Lasso survived an impeachment vote late Tuesday after a hard-left opposition party failed to rally other smaller groups in congress to oust him as his government moved to make concessions to diffuse the political crisis. Read More
(Bloomberg) — A group of countries including Italy are pushing to water down a key element of the European Union’s climate agenda: phasing out the combustion engine by the middle of the next decade. Read More
(Bloomberg) — JPMorgan Asset Management is doubling down on China tech stocks after enduring a tumultuous selloff, betting that a wind-down of regulatory crackdowns and attractive valuations will pay off big. Read More
(Bloomberg) — Oil ticked higher as traders weighed the odds of a recession in the US amid Federal Reserve tightening, with President Joe Biden pushing back against the notion that the world’s largest economy faces a contraction. Read More
(Bloomberg) — A shortage of popular food items from popcorn to sriracha is hitting restaurants and grocery shelves this summer, a sign that the world’s immense supply chains are still under pressure. Read More
(Bloomberg) — Thermal coal in China has climbed above the government’s price caps imposed last month, prompting regulators to dispatch squads to major mining regions to ensure compliance. Read More
(Bloomberg) — The stock offering for Brazil’s state-owned power company Eletrobras on Thursday raised 33.7 billion reais ($6.9 billion), becoming the world’s second-largest equity deal so far this year, according to people familiar with the matter. Read More