Efforts by Citigroup Inc. senior executives to tighten controls in Mexico were rebuffed by managers there for at least five years before the U.S. bank found the local unit had suffered a $400 million loan fraud last month, four people with direct knowledge of the matter said.
Wheat rebounded from the largest decline in almost a month as adverse global weather from the U.S. to Ukraine threatened global crops, putting the grain on course for the biggest monthly advance since July 2012.
Wheat rose to the highest in more than two months on speculation freezing temperatures in the Midwest may damage crops in the U.S., the world’s top exporter, and dry conditions in the Black Sea region may stress plants.
Lockheed Martin Corp., the world’s largest defense contractor, sees an expanding market for its cybersecurity products and services among companies in industries from energy to banking, Chairman and Chief Executive Officer Marillyn Hewson said.
In the Texas panhandle, the center of U.S. cotton country, it wasn’t just higher prices and a lingering drought that influenced Dee Vaughan’s crop plans for his 7,000-acre (2,800-hectare) farm. It was corn.