Deutsche Bank AG is cutting about 200 commodities jobs, joining the world’s largest financial firms in reducing headcount to the lowest since 2009 as prices for everything from energy to metals head for the first annual drop since the recession.
Qantas Airways Ltd.’s credit rating was cut to junk at Standard & Poor’s a day after the carrier flagged a record first-half loss and 1,000 job cuts. The shares fell to the lowest since July 2012 and bond risk soared.
The Rubicon Project Inc., an online- advertising company that reaches more U.S. Web users than Google Inc.’s ad network, picked Morgan Stanley and Goldman Sachs Group Inc. to lead its initial public offering, according to people with knowledge of the plans.
Hermes Fund Managers Ltd., which beat 88 percent of its emerging-market peers this year, is boosting holdings of Chinese stocks after the government pledged to open up the economy to more investment to fuel growth.
Sales of dollar-denominated corporate bonds soared to a record for the second straight year, led by speculative-grade borrowers that rushed to offer debt before the Federal Reserve cuts its unprecedented stimulus.
The U.S. economy expanded more in the third quarter than initially estimated as unsold merchandise piled up at the fastest rate since early 1998, setting the stage for a possible slowdown in the final three months of the year.
U.S. stocks declined a fifth day, sending the Standard & Poor’s 500 Index to a two-week low, after improving economic data boosted bets the Federal Reserve will curb its monthly bond purchases sooner than estimated.