Swiss stocks were little changed, following their biggest drop in 20 months yesterday, as speculation central banks will reduce stimulus offset Moody’s Investors Service’s confirmation of Switzerland’s credit rating.
Raiffeisen Bank International AG Chief Executive Officer Herbert Stepic offered to resign from eastern Europe’s second-biggest lender, a day after officials began a probe into his investments through offshore accounts.
Fibria Celulose SA, the world’s largest pulp maker, plans to raise about 1 billion reais ($500 million) through land sales to pay debt, a step toward restoring an investment-grade credit rating, according to a person with knowledge of the proposal.
India’s economy probably expanded less than 5 percent for a second quarter as political gridlock that threatens Prime Minister Manmohan Singh’s growth agenda tempered gains from farm output and lower interest rates.
Marfrig Alimentos SA’s bonds fell the most in five weeks after Moody’s Investors Service put the Brazilian meatpacker’s rating under review for a reduction on concern it’s not generating enough cash to meet debt payments.