BC Partners Ltd., a private-equity firm, agreed to buy German academic publisher Springer Science & Business Media GmbH for 3.3 billion euros ($4.4 billion) from EQT Partners AB and the Government of Singapore Investment Corp.
North America reclaimed the top spot with the most millionaires last year, beating Asia as the world’s ultra-rich pushed global wealth to a record high, according to a report by Cap Gemini SA and Royal Bank of Canada.
Emerging-market stocks fell for a second day, led by Chinese shares, as money-market rates surged and investors speculated the government will step up property curbs. The Philippine peso weakened before today’s U.S. Federal Reserve policy announcement.
The rupee swung between gains and losses, trading 0.2 percent off an all-time low, as concern U.S. policy makers will pare stimulus countered optimism India’s government will allow more overseas investments.
Thailand’s baht fell to within 0.4 percent of a nine-month low and bonds dropped as investors wait for a signal from the Federal Reserve on the future of its stimulus program that has spurred fund flows to emerging markets.
PT Jamsostek, Indonesia’s biggest pension fund, said the nation’s benchmark stock index will extend losses, giving the manager an opportunity to boost equity holdings amid optimism about the country’s economic growth.