Procter & Gamble Co. is replacing Chief Executive Officer Bob McDonald with his predecessor, A.G. Lafley, as the world’s largest consumer-products maker struggles to rekindle growth at home and abroad.
Emerging stocks were set for a second weekly drop as a slump in commodities sank producers from OAO Gazprom to Vale SA. Hungary’s benchmark index jumped to a three- month high as the nation published its budget plans.
Hoteles City Express SAB, a Mexican operator of hotels for business travelers, plans to raise about $250 million in an initial public offering this year, said Abelardo Loscos, a company investor relations official.
Avianca Holdings SA Chief Executive Officer Fabio Villegas said the Colombian airline will spend at least $4 billion through 2019 as it buys more than 100 planes to meet rising passenger traffic in Latin America.