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India’s workers are trapped in a vicious cycle of coal, heat

BLOOMBERG  Standing by vast, ash-coloured coalfields, miner Rabi Behera expressed few doubts about the job at hand. To cope with increasingly brutal temperatures, India has to keep its power grid standing— and for now that means digging up ever expanding quantities of the dirtiest fossil fuel. “It’s hard to survive without electricity during the summer,” he said, giant trucks rumbling ...

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Wells Fargo seeks to settle mortgage case with mediation

BLOOMBERG  Wells Fargo & Co is pursuing private mediation to settle claims of widespread discrimination against Black homeowners by denying them lower interest rates through refinancing and forcing them to pay more for loans. Lawyers for the bank and borrowers said they’ve agreed to work with a former federal judge to try to resolve a group of class-action lawsuits — ...

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UBS mulls delaying Q2 results until August

BLOOMBERG  UBS Group AG may delay releasing its second-quarter results until end-August when it could also provide an update on its plans for Credit Suisse Group AG’s local business, the Financial Times reported. UBS is due to report its earnings on July 25, but complexities include unfinalised details of government support in its emergency takeover of Credit Suisse and different ...

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