A former Bank of America Corp. senior vice president, who cooperated with prosecutors probing a conspiracy to rig bids in the $3.7 trillion municipal bond market, won’t go to jail for his role in the scheme.
United Technologies Corp. raised the lower end of its 2014 forecast today and McDonald’s Corp. gave an upbeat outlook for April, showing signs of optimism at U.S. corporations after factory production and the job market improved last month.
Ford Motor Co. Chief Executive Officer Alan Mulally is lining up a substantial corporate position for his next act, probably as a board director or chairman, according to people with knowledge of his plans.
Royal Philips NV said the strength of the euro will make 2014 a “challenging” year after the world’s biggest lighting manufacturer reported first-quarter earnings that missed analyst estimates. The stock declined the most since June 2011.
Ontario Teachers’ Pension Plan, the largest pension manager in Canada’s most populous province, is partnering with GE Aviation and the Japanese government to finance an engine for Boeing Co.’s newest airliner.
Asian stocks fell, with the regional gauge heading for its first drop in four days, led by health-care stocks and information technology shares. Several markets across the region are shut today for a holiday.