G4S Plc said Nick Buckles will step down as chief executive officer after a six-year period at the helm that soured after the company’s failure to provide sufficient security at London’s Olympic Games last year.
U.K. billionaire Richard Branson’s Virgin Atlantic Airways Ltd. posted a full-year loss of 69.9 million pounds ($107 million), hurt by higher costs, sluggish economies and a dip in business travel during the Olympic Games.
The Obama administration is setting out to help exporters get in on Brazil’s building boom even as it spars with the region’s biggest economy over high tariffs, rules favoring local companies and monetary policies.
Multiplan Empreendimentos Imobiliarios SA, the Brazilian mall developer that lured Gucci and Prada to Rio de Janeiro, will expand its luxury segment after revenue from its first high-end project topped its expectations.
Brazil, the second-biggest producer of hydroelectricity, is seeking to increase the use of fossil fuels after the worst drought in 50 years depleted reservoirs, underscoring a limit to renewable energy.