Russia sees a high probability that neighboring Ukraine will default. Standard & Poor’s says that outcome is likely. Even Ukraine’s acting president calls the country’s plight a “pre-default situation.”
Franklin Resources Inc.’s biggest funds purchased Ukrainian bonds in the fourth quarter, adding to holdings that made the asset manager the country’s largest debtholder before growing violence spurred unprecedented losses.
Markets from Hungary to Poland and Russia are suffering contagion from the violence rocking Ukraine’s capital, sending bond yields higher and currencies lower as the turbulence afflicting developing nations deepens.
The largest holders of Puerto Rico bonds are betting that a planned debt sale by the commonwealth will fuel a rally in its securities by alleviating doubts the U.S. territory can raise funds in the capital markets.
John Paulson, the hedge-fund manager who profited last year with bets on merging companies, stands to gain $141 million on Time Warner Cable Inc. shares from yesterday’s price after Comcast Corp. agreed to acquire it.
Kyle Bass says there’s still money to be made lending to Argentina, a deadbeat country with few peers in history. The hedge-fund manager is the latest example of international investors pursuing riches where crises over 200 years ruined most of its citizens.
Jos. A. Bank Clothiers Inc., which is resisting a takeover by Men’s Wearhouse Inc., has been told by five of its largest shareholders to start talking to its rival about a sale, said people with knowledge of the matter.
John Borghetti spent 36 years helping build Australia’s biggest airline, Qantas Airways Ltd. Since joining its main rival in 2010, he’s worked to exploit every weakness he can find at his former employer.