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 in January will launch a massive recall of its diesel-powered cars affected by its emissions test scandal. The recall is expected to be completed by the end of 2016, its chief executive said.