New Jersey reached a deal to obtain almost $92 million for its general fund by pledging the remainder of its revenue from the national tobacco settlement to investors. The bolstered payment pledge made trading prices on bonds linked to the agreement more than triple from March 3.
Retailers in the U.S. struggled to increase sales in February as a second month of frigid temperatures and snowstorms kept many Americans closer to home, economists predict a Commerce Department report will show.
Jeanina Jenkins, a 20-year-old high- school graduate from St. Louis, is stuck in a $7.82-an-hour part-time job at McDonald’s Corp. that she calls a “last resort” because nobody would offer her anything better.
Former Jefferies & Co. Managing Director Jesse Litvak was convicted in the only criminal case against an individual in connection with a U.S. program that used bailout funds to spur investment in mortgage-backed securities.
Treasury 10-year yields rose the most since September after stronger-than-forecast job gains in February suggested that the economy, which has been hampered by severe cold this winter, is poised for faster growth.
The euro rallied for a fifth week as European Central Bank President Maro Draghi said he expects inflation in the currency bloc to gradually rise, damping bets that policy makers would reduce the benchmark interest rate.
Russell Investments, the indexing and fund-management unit of Northwestern Mutual Life Insurance Co., is drawing takeover interest from suitors including Blackstone Group LP and Bain Capital LLC as Goldman Sachs Group Inc. solicits bids for the firm, people with knowledge of the matter said.