Brazil’s inflation rate, which this month quickened to the highest level since last July, will return to normal in the “long run,” Itau Unibanco Holding SA Chief Executive Officer Roberto Setubal said.
Brazil’s Superior Court of Justice ruled against banks in a case determining how much delinquent interest can be charged in class-action lawsuits. Banco do Brasil SA fell the most in more than five years after the decision was handed down late yesterday.
Wal-Mart Stores Inc. Chief Executive Officer Mike Duke said he sees no conflict between paying low prices to suppliers that source merchandise from overseas and being able to maintain safe conditions at garment factories.
Norman Pearlstine, who served as Bloomberg LP’s chief content officer for the past five years, is leaving to rejoin Time Warner Inc.’s magazine division, ahead of a planned spinoff of the business next year.