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IMF chief urges G20 to adopt carbon price floor to reach climate goals

WASHINGTON — The head of the International Monetary Fund on Thursday urged the Group of 20 major economies to adopt an international carbon price floor to help reach agreement on carbon pricing, which she said was essential to combating climate change. Managing Director Kristalina Georgieva told a virtual two-day summit that climate change posed huge […]

Amazon and Nestle join public-private plan to save world’s forests

LONDON — The United States, Norway and Britain joined forces with companies including Amazon and Nestle on Thursday to launch a project aimed at protecting the world’s tropical forests. Announcing the Lowering Emissions by Accelerating Forest finance (LEAF) Coalition at the U.S.-convened Leaders Summit on climate, the public-private project aims to raise at least $1 […]

U.S. Supreme Court curbs FTC’s power to recoup ill-gotten gains

WASHINGTON — The U.S. Supreme Court on Thursday made it more difficult for the Federal Trade Commission to force scam artists and companies that engage in deceptive business practices to return ill-gotten gains obtained from consumers, ruling in favor of a criminally convicted payday lender who challenged the agency. The 9-0 ruling handed a victory […]

Chevron lobbies U.S. officials on Myanmar as sanctions pressure rises

U.S. oil giant Chevron Corp lobbied lawmakers and government officials to protect its energy interests in Myanmar during the first quarter, as the administration of President Joe Biden comes under pressure to impose sanctions against the south Asian country’s military junta, according to federal disclosures. Chevron is among a handful of international oil and gas […]

Fired fund manager Friess battles AMG over Brandywine portfolios

BOSTON — Mutual fund manager Friess Associates is challenging its firing by asset manager Affiliated Managers Group and is asking investors to reject the proposed transfer of more than $1 billion in funds to its successors, according to a regulatory filing made on Thursday. Friess Associates, which managed Brandywine Funds on Affiliated Managers Group’s (AMG) […]

Brazil’s real surges on iron ore prospects, catchup trade

Brazil’s real raced ahead in catch-up trade on Thursday, with a spike in Chinese steel prices also providing support, while Chile’s peso came off three-month highs, tracking an initial dip in copper prices. The real jumped 1.5% after a holiday on Wednesday. Most other Latin American currencies had firmed then, owing to a weaker dollar […]

U.S. Supreme Court rejects new curbs on juvenile sentences

The justices in a 6-3 ruling rejected arguments by the inmate, Brett Jones, that his sentence of life in prison with no chance of...

TSX opens lower as oil stocks weigh

Canada’s main stock index fell on Thursday, weighed by energy stocks as a renewed surge in coronavirus infections in some Asian countries raised concerns about oil demand. ** India, the third largest consumer of oil, recorded the world’s highest daily tally of 314,835 COVID-19 infections on Thursday as a second wave of the pandemic raised […]

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