A court order forcing Florida to forgo $1 billion it planned to take from state workers to shore up its budget is the latest sign of the difficulty of reducing government-backed retirement benefits.
A judge blocked Florida Governor Rick Scott’s changes to the state’s public employee pension system that were part of an effort to save $1 billion a year.
SABMiller Plc , which walked away from last year’s biggest beer acquisition, faces the prospect of paying the most ever for Foster’s Group Ltd. as it tries to boost profitability.
Tate & Lyle Plc rose to its highest price in almost three years in London trading as analysts speculated Cargill Inc. might bid for the maker of the low- calorie sweetener Splenda.
Diageo Plc plans to make its biggest purchase in more than a decade by acquiring Mey Icki in a transaction that values Turkey’s largest maker of Raki at 3.3 billion Turkish lira ($2.1 billion).
Pernod-Ricard SA , the maker of Chivas Regal whiskey and Absolut vodka, reported first-quarter sales growth that beat estimates, driven by its top 14 brands and demand in emerging markets.
"Balancing the state budget on the backs of middle-class working families is the wrong approach."
- Andy Ford on Jan 17, 2013