Puerto Rico’s power authority agreed to the terms of a restructuring plan with a group of bondholders, who are slated to receive 85% of the value of their bonds.
Although markets are wobbling, U.S. banks have their feet on the ground.
Stuart Bohart, president of Fortress Investment’s hedge-fund unit, has left the firm. The departure follows a rough period for the firm’s “macro” trading business.
A deeper-than-usual August decline in bond and equity sales will leave third-quarter earnings for big banks dependent on trading results and the still-thriving M&A market.
The giants of Silicon Valley are bulking up in the European Union’s de facto capital, hiring lobbyists and jostling for the favor of the Web’s most ambitious regulators.
Medtronic’s earnings will provide a checkup on its $50 billion Covidien acquisition.
Investors have rewarded Honeywell for its diversified lineup, even as other conglomerates have been pressured to tighten their focus. Now, investors want the company to make bigger deals while keeping risk in check.
A tightening labor market pushed up workers’ wages in pockets of the U.S. this summer, the Federal Reserve said Wednesday, but slowing growth in Asia threatened to hit American factories.
For most countries, the economic slowdown in China and the accompanying slump in commodity prices represent something between nuisance and pothole. For Russia, they are a catastrophe, writes Greg Ip.
For years, Samsung Electronics has been the world’s smartphone leader, but its global dominance appears to be increasingly under attack from fast-growing Chinese rival Huawei Technologies.