Wal-Mart Stores Inc.’s board, as it prepares for new leadership at the company, has identified two internal candidates to succeed Chief Executive Officer Mike Duke, according to a person familiar with the situation.
Caesars Entertainment Corp., the largest owner of U.S. casinos, said it’s creating a venture that will raise as much as $1.2 billion to finance growth investments and bolster the parent company’s balance sheet.
Dollar General Corp., the discount retailer acquired by KKR & Co. in 2007, is fetching a premium in the debt markets as it approaches an investment-grade rating and takes market share from Wal-Mart Stores Inc. and other larger competitors as the economy struggles to accelerate.
Treasuries rallied and the euro weakened to a four-month low against the dollar, while Italian and Spanish bonds slumped, as concern about Europe’s debt crisis deepened. Most U.S. stocks fell, even as the Standard & Poor’s 500 Index pared a drop of as much as 0.8 percent.