Former American International Group Inc. Chief Executive Officer Maurice “Hank” Greenberg asked New York’s highest court to clear his name and dismiss what remains of an eight-year-old lawsuit over an AIG accounting scandal.
The amount of dollar-denominated bonds issued by companies in Asia is growing almost 10 times faster than the global corporate debt market, raising concern that investors are lowering their standards as they seek to take advantage of the region’s relatively high yields.
Borrowers in Asia have stepped up the use of rebates to get wealthy individual investors to buy their dollar-denominated bonds, underscoring weakness in the market as returns dwindle to an 18-month low.
Billionaire Carl Icahn is reviewing Dell Inc.’s books as he pushes alternatives to a proposed $24.4 billion leveraged buyout of the personal computer maker that faces mounting resistance from investors.
Asian debt markets offer investors “tremendous opportunities” because the region’s bonds are priced as though they are as risky as emerging-market securities, according to Aberdeen Asset Management Plc .
Macy’s Inc., Martha Stewart Living Omnimedia Inc. and J.C. Penney Co. return to court today to resume a trial that began Feb. 20 over the right to sell some Martha Stewart merchandise unless a settlement is reached.
JPMorgan Chase & Co. , sued by the trustee for Bernard Madoff ’s defunct firm for $6.4 billion for allegedly aiding the con man’s fraud, asked a judge to remove the case from bankruptcy court because it raises “novel and unsettled questions” beyond the court’s scope and expertise.