U.S. farmers are poised to reap their biggest-ever corn crop, expanding global stockpiles to the most in 13 years and spurring hedge funds and other speculators to make record bets that prices will keep slumping.
McDonald’s Corp., the world’s largest restaurant chain, said sales at stores open at least 13 months rose 0.7 percent last month, topping analysts’ estimates, as new wraps and breakfast food attracted U.S. diners.
Montreal, Maine & Atlantic Railway Ltd., the operator of the runaway oil train that exploded and killed 47 people in a Quebec town, said it was forced to file for bankruptcy because of potential liability from the crash.
Prices for single-family homes climbed in 87 percent of U.S. cities in the second quarter as the national housing recovery accelerated amid competition for a limited number of properties on the market.
Corn ethanol producers say a pledge by U.S. regulators to lower the level of renewable fuel use required next year may deflate a well-funded oil industry effort aimed at persuading Congress to repeal the mandate.
G. Robert Blakey, the law professor who helped draft the U.S. wiretap statute, may submit a brief supporting imprisoned hedge fund manager Raj Rajaratnam’s effort to overturn his conviction for insider trading, a U.S. appeals court ruled.