Luxottica Group SpA , the Italian owner of the Ray-Ban sunglasses brand, raised 500 million euros ($702 million) from its first benchmark bond issue as the country struggles with the fallout from Europe’s budget crisis.
The chief executives of large banks including Goldman Sachs Group Inc. and JPMorgan Chase & Co. will meet with President Barack Obama tomorrow as Wall Street urges Congress to end the budget stalemate in Washington.
Illinois, which shares the worst state credit rating with California, is draining its pension funds as candidates for governor promote plans that would cover less than a quarter of a record budget gap.
The euro dropped for a fifth month versus the dollar in the longest stretch of losses since November 2008 as Europe’s deficit crisis spread and officials negotiated a potential $159 billion rescue for Greece.
Republican Governor Scott Walker of Wisconsin said today at a Bloomberg/Washington Post breakfast at the Republican National Convention in Tampa, Florida, that presidential nominee Mitt Romney needs to be more specific in telling voters how he would deal with nation’s fiscal crisis.