Endurance Specialty Holdings Ltd., the Bermuda-based provider of property and casualty insurance, announced a $3.2 billion offer to buy Aspen Insurance Holdings Ltd. after the target company turned down its proposal.
U.S. stocks rebounded from the worst weekly losses in two years, weathering a selloff at the start of the final hour, after data showed retail sales increased the most since 2012 and Citigroup Inc. earnings unexpectedly rose.
A plan to build a skyscraper near Liverpool Street railway station, slated to be the tallest in the City of London, may be revived this year as rising occupancy rates in the financial district draws investors, according to Peter Rees, the City’s former planning officer.
Detroit agreed to pay some bondholders about 74 percent of the $388 million they are owed in a deal that shifts $100 million to city pension funds and lightens the burden on insurers that backed the debt.
Aurigen Capital Ltd., the reinsurer backed by billionaire George Soros, is seeking to raise about C$225 million ($206 million) in the biggest initial public offering in Canada this year, according to two people familiar with the transaction.