Three former top executives at Dewey & LeBoeuf LLP, once the No. 3 legal adviser to banks handling merger deals, were charged with a “cook the books” fraud scheme that led to the largest law firm bankruptcy in history.
Staples Inc., the largest U.S. office-supplies chain, will close as many as 12 percent of its North American stores and cut as much as $500 million in costs as online competition continues to hurt sales. The shares fell.
Li Shufu, the Chinese billionaire chairman of Volvo Cars, said China should allow foreign carmakers to control their operations in the world’s largest auto market to encourage competition and bring down prices.
Canadian stocks erased gains in the final hour of trading, paring the longest monthly winning streak in three years, as drop among miners offset gains in industrial and energy shares amid an unexpected acceleration in growth.