Howard Marks, chairman of Oaktree Capital Group LLC, said the pace of his firm’s investing in Europe is accelerating as banks are more willing to sell troubled assets such as distressed real estate and nonperforming loans.
Lloyds Banking Group Plc, Britain’s largest mortgage lender, sold its remaining stake in St. James’s Place Plc for about 680 million pounds ($1.1 billion) as it focuses on its main retail and commercial businesses.
Johnson & Johnson was fined 10.8 million euros ($14.9 million) by European Union regulators over a pact with a Novartis AG unit that hampered the sale of generic versions of pain killer fentanyl in the Netherlands.
Novartis AG, which is exploring options for its animal-health business, is considering exchanging the division for one of Merck & Co.’s assets rather than selling it, people with knowledge of the matter said.
Sanna Andersson was looking for new digs. The 23-square-meter (248-square-foot) studio apartment that she shared with her boyfriend in Soedermalm -- the central Stockholm district best known outside of Sweden as the backdrop for Stieg Larsson thrillers -- had grown too cramped.
American mutual funds are scouring Europe for bargains, snapping up Dutch oil drillers, French drugmakers and Swiss food producers on speculation the region’s rally is just beginning as the U.S. bull market ages.
New medicines from Gilead Sciences Inc., Roche Holding AG, Pharmacyclics Inc. and others are poised to reshape treatment of the most common form of leukemia among adults, potentially eliminating chemotherapy from regimens and extending patients’ lives.