Europe’s high-yield bond market will get riskier next year, with some of the world’s biggest money managers predicting the lowest-rated and most-indebted companies will escalate sales to take advantage of cheap borrowing.
Royal Dutch Shell Plc’s Argentine unit plans to triple shale investments on prospects that the government will change energy policies to spur development of the Vaca Muerta formation and cut fuel imports.
Promotora de Informaciones SA shareholders approved an agreement to restructure about 3 billion euros ($4.1 billion) of debt, giving the owner of El Pais newspaper time to turn around the business and cut debt.
Javier Espinosa, a journalist for Spain’s El Mundo newspaper, and freelance photographer Ricardo Garcia Vilanova, were kidnapped in Syria by a group linked to al-Qaeda as they tried to cross the border into Turkey, El Mundo reported.
Smithfield Foods Inc., the world’s biggest hog and pork producer, and its owner China’s Shuanghui International Holdings Ltd. are weighing options for Smithfield’s 37 percent stake in a Spanish sausage maker.
European Aeronautic, Defence & Space Co. plans to trim 5,800 jobs, marking the steepest cuts in about five years as the parent of Airbus SAS combines space and defense units left reeling from slack government spending.