Diageo Plc offered to pay 114 billion rupees ($1.9 billion) to gain control of United Spirits Ltd. in a second attempt to extend its reach in the world’s largest whiskey market. United surged to a record.
China’s first default is prompting investors to discriminate against privately-owned companies, boosting demand for local government bonds even as the central bank warns of the dangers of a $2.9 trillion pile of debt.
Sears Holdings Corp. has relied on controlling shareholder Edward Lampert for years to help fund its operations. Now the billionaire is cutting out a form of lending he’s provided since 2010 to the owner of its namesake retail chain and Kmart.
Federal Reserve Governor Daniel Tarullo defended the central bank’s rules requiring stricter supervision of foreign banking companies operating in the U.S., saying the global financial crisis made it clear that regulation needed to be expanded.
Bank of America Corp. issued $7.6 billion of notes in this year’s third-largest U.S. corporate bond sale, the day after saying regulators approved its first dividend increase since the financial crisis.