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 ...

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 — ...

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 ...

BLOOMBERG  Investors who took out long positions in the euro could be in for some respite, even as a shaky outlook for the economy continues to stalk common currency. Slowing inflation and fading optimism about the region’s growth sent the euro to its worst month since April 2022. Short-term bets against the euro using currencies other than the dollar are ...

BLOOMBERG General Motors (GM) Co and Stellantis NV paid a combined $363 million in civil penalties for failing to meet US fuel efficiency standards dating back to the Trump administration, according to filings with federal regulators. Stellantis paid more than $123 million in January for missing the mark with its 2018 model year lineup and in excess of $112 million ...

BLOOMBERG PC makers from Lenovo Group Ltd to Samsung Electronics Co are pinning their hopes for reviving laptop sales on upgraded displays. At the Computex show in Taiwan, every major local electronics brand showed off new laptop models with OLED displays, the same technology used in smartphones. Asustek Computer, Acer Inc, Gigabyte Technology Co and Micro-Star International Co all expanded ...

BLOOMBERG Apple Inc’s most significant product launch event in nearly a decade kicks off on Monday, when the company will introduce its first major new product category since the Apple Watch alongside multiple new Macs and software upgrades across its platforms. The event starts from the company’s Cupertino, California, campus on Monday, June  5 at 10 am PT/1 pm ET. ...

BLOOMBERG Nato Secretary General Jens Stoltenberg said that Sweden has “fulfilled its obligations” to Turkey to bolster its counter-terrorism laws, which should clear its path for membership in the alliance. After meeting with newly re-elected Turkish President Recep Tayyip Erdogan, Stoltenberg was asked if Sweden could still admitted before the alliance’s mid-July summit in Vilnius, Lithuania. “There’s still time to ...

BLOOMBERG Australian Prime Minister Anthony Albanese expects an upgrade in diplomatic relations between his country and Vietnam to a comprehensive strategic partnership soon, he said during his first visit to the Southeast Asian country. “All connections and cooperation come together in our plan to elevate our relationship to a comprehensive strategic partnership and prime minister and I discuss today that ...

BLOOMBERG A highly anticipated defense forum in Singapore kicked off with a friendly handshake between Pentagon chief Lloyd Austin and Chinese Defense Minister Li Shangfu. It ended with few other signs of optimism that the world’s biggest economies could avoid an eventual collision. Austin used his speech at the Shangri-la Dialogue to chide China over its refusal to meet unless ...