Bloomberg Carbon markets, the free-enterprise solution to saving the world from global warming, are now in danger themselves. The idea was simple enough: Set a cap on carbon emissions, issue enough permits to allow power plants, refineries and the like to stay within those limits and then shrink the cap over time to achieve reductions. The companies whose emissions …

  Bloomberg As Kazakhstan’s leader celebrated his 76th birthday this week, the social bargain that’s underpinned his more than quarter-century in charge is crumbling. President Nursultan Nazarbayev’s plans to retool his nation for an era of low-cost crude are meeting resistance from protesters opposed to land reforms and, more recently, from religious radicals. The struggle to implement his overhaul is …

  Bloomberg India’s steel consumption dropped in June for the first time in at least 15 months, as curbs on imports raised prices in the domestic market. Demand fell 4.3 percent to 6.8 million metric tons from a year ago, the first drop since at least April 2015, when the Steel Ministry began to publish monthly data. Steel output in …