In less than a decade, Marco Dunand and Daniel Jaeggi have turned a 10-person company supplying oil to a pair of Polish refineries into the world’s fourth-largest commodity trader with revenue topping $100 billion last year.
The euro rose to a two-month high and Treasuries fell after fewer people filed U.S. jobless claims and the European Central Bank left interest rates at a record low. U.S. stocks pared gains as health-care companies slid while palladium led gains among precious metals.
Paul Muoio, author of a daily note to customers on macro futures strategy since 1998, is leaving his job as regional head of futures for North America at Citigroup Inc. in New York at the end of the month to manage his own money, he said.
Alzheimer’s, known mostly for the memory loss and confusion it causes, may be the nation’s third- most deadly killer, according to a study that suggests many more Americans die from the disease than is known.
CarVal Investors LLC, the credit investment unit of commodities trader Cargill Inc., plans to raise $2 billion to buy distressed investments as banks need to sell assets to meet regulatory requirements.