Banco do Brasil SA, Latin America’s largest bank by assets, said profit fell 24 percent, missing analysts’ estimates, as provisions for bad loans and expenses climbed. The shares declined the most in three months.
Twitter Inc., the microblogging service that went public last year, agreed to buy 900 patents from International Business Machines Corp. to gain access to new technology and build a defense against infringement suits.
Skadden, Arps, Slate, Meagher & Flom LLP advised Intrawest Resorts Holdings Inc., a North American mountain resort and adventure company, in its initial public offering. The company raised about $188 million selling the 15.6 million shares for $12 each, after offering them for $15 to $17 apiece. The shares are listed on the New York Stock Exchange under the symbol SNOW.
Republican lawmakers negotiating a payroll tax cut extension are seeking to attach provisions reviving a blocked Canadian oil pipeline and limiting the Environmental Protection Agency’s authority to regulate industrial boilers.
Arizona Governor Jan Brewer ordered welfare officials to use state funds to restore assistance to thousands of families who lost the aid because of the partial shutdown of the U.S. government last week.