Bloomberg The world’s biggest oil producers are spending billions of dollars on fossil fuel projects that will only be needed if the world misses key climate goals, according to Carbon Tracker, a non-profit think tank. Companies invested $58 billion in oil and gas projects in 2021 and 2022 that will only be required if fossil fuel demand grows to a …

Bloomberg Canada’s banking regulator increased a key capital requirement for large banks — and raised the potential range of the measure — giving it more power to protect the country’s financial system from elevated risks. The Office of the Superintendent of Financial Institutions (OSFI) said that it’s lifting the domestic stability buffer to 3% by February 1, up from its …

Bloomberg Euro-area banks are returning another €447.5 billion ($472 billion) in cheap loans to the European Central Bank after officials toughened the terms of the program to help fight double-digit inflation. The repayment will shrink the outstanding amount of so-called TLTRO loans, which were used during the pandemic to keep credit flowing to households and businesses, by about 25%. The …