Glencore Xstrata Plc raised the biggest loan on record for a commodity trader at interest rates below those offered to competitors as the 80 banks backing the deal count on winning future business from the company.
U.S. stocks rose for a second day, pushing the Standard & Poor’s 500 Index to its highest in June, as investors awaited the outcome of a Federal Reserve policy meeting for clues to the central bank’s plan for stimulus.
Brazil’s central bank President Alexandre Tombini said policy makers are working to reduce the inflationary pressure that may stem from a drop in the real, the worst performing major currency in the past month.
San Francisco has added 300 technology companies since 2010, helping it earn its highest credit grade in more than a decade. The fiscal gains haven’t been enough to keep investors from penalizing the city amid the worst losses this year in municipal bonds.
A gauge of U.S. corporate credit risk held at about the lowest in a week as investors await a Federal Reserve statement tomorrow for any clues that the central bank may pare unprecedented stimulus efforts.
As U.S. banks take more risks hunting higher returns, regulators are keeping a close watch on the safety of new strategies and products, according to an Office of the Comptroller of the Currency report.
President Barack Obama said Federal Reserve Chairman Ben S. Bernanke has stayed in his post “longer than he wanted,” one of the clearest signals the central bank chief will leave when his current term expires next year.