A financing plan for a third World Trade Center skyscraper in lower Manhattan is at risk as commissioners of the Port Authority of New York and New Jersey prepare to vote on a $1.2 billion loan guarantee.
With a trio of transactions, GlaxoSmithKline Plc Chief Executive Officer Andrew Witty is expanding the U.K. pharmaceutical company’s positions in consumer products and vaccines, providing “durability” as the industry faces increased pricing pressure for medicines.
Shanghai Chaori Solar Energy Science & Technology Co., the first Chinese company to default on corporate bonds in its home market, halted work at its headquarters plant and is looking for new business partners.
International Business Machines Corp. is reducing stock buybacks after an $8.2 billion first- quarter splurge, putting more pressure on Chief Executive Officer Ginni Rometty to reignite sales growth or cut costs to hit her profit targets.
Russian companies, facing $115 billion of debt due over the next 12 months, will have the funds even as bond markets shut because of the Ukraine crisis, according to Moody’s Investors Service and Fitch Ratings.