Bloomberg American oil executives began a pushback against some of President Joe Biden’s climate policies by making the case that fossil fuels from US shale have a lower carbon footprint than imports. Since taking office this month, the Biden administration has made swift moves to pause sales of oil and gas leases on federal land, cancel the Keystone XL pipeline …

Bloomberg Asian and European investors are pouring money into dollar corporate bonds, which have grown more enticing as longer-term US yields have risen and hedging costs have fallen. A European investor can earn about 1.03% on an average US high-grade corporate bond after hedging, or around 0.8 percentage point above euro-denominated counterparts, according to data compiled by Bloomberg. That’s one …

Bloomberg More than one-third of the 89 billion pounds ($122 billion) of lending handed out by the UK government to help businesses through the pandemic will never be repaid, according to the National Audit Office. The report, based on government estimates, says 31 billion pounds ($42.51 billion) will need to be written off, highlighting the dire position of many firms …