Moelis & Co., the advisory firm founded by Kenneth Moelis, is seeking to set up a collateralized loan obligation business as issuance of the funds rises to the most since 2007, according to three people with knowledge of the plan.
JPMorgan Chase & Co. and two other banks rejected a European Union deal to end an antitrust probe into the rigging of Euribor lending rates, risking higher fines and challenging the future of the EU’s settlement process.
Emerging-market stocks fell to the lowest level in two weeks as Hyundai Motor Co. and Kia Motors Corp. tumbled amid concern earnings will falter. Brazil’s real slumped to a three-month low amid disappointing economic data.
Royal Bank of Scotland Group Plc, Britain’s biggest taxpayer-owned lender, apologized for a technical fault that left customers unable to access accounts and offered to compensate those who have lost money.