Financial turmoil in emerging markets risks hitting global economic growth and triggering asset fire sales world-wide, especially if the U.S. Federal Reserve raises interest rates prematurely, the IMF said.
SABMiller rejected a takeover proposal from Anheuser-Busch InBev that valued it as high as $103.88 billion, the latest salvo in what is quickly becoming a tense negotiation between the world’s No. 1 and No. 2 brewers.
Volkswagen said it will launch a massive recall in January of vehicles that have been affected by the emissions test scandal. A software update would be sufficient for most cars, although others will need more complicated fixes. The recall is expected to be completed by the end of 2016.