When Jane Gladstone of Evercore Partners Inc. first attended the Futures Industry Association annual meeting in Boca Raton in 2002 she was the only investment banker there. To capitalize on the opportunity, she threw a dinner for about 20 people.
Pandora Media Inc., the biggest online radio service, reported a first-quarter loss that matched analysts’ estimates as mobile revenue surged and the company controlled costs. The stock rose in late trading.
The biggest drop in Japanese shares since the 2011 earthquake erased $314 billion in market value, shaking bulls who pushed the Topix Index to five-year highs and highlighting their vulnerability to shocks at home and abroad.
The Dollar Index declined for the first time in three days as a survey of the Federal Reserve’s primary dealers said confusion about the central bank’s intentions for its bond-buying program may be hurting the effort’s effectiveness.
U.S. stocks retreated, giving benchmark indexes their first back-to-back drops in one month, as a contraction in China manufacturing offset American housing data and investors weighed Federal Reserve stimulus comments.
India’s economy probably expanded less than 5 percent for a second quarter as political gridlock that threatens Prime Minister Manmohan Singh’s growth agenda tempered gains from farm output and lower interest rates.
French wheat exporters face tougher competition from the Black Sea this year as crops in Russia and Ukraine recover from drought, erasing the premium paid for Paris-traded futures over the global benchmark in Chicago.
The rand’s drop in the past two weeks, the world’s steepest after Syria’s pound, is foiling prospects for an interest-rate cut by South Africa’s central bank amid mounting concern inflation will accelerate.