Before Charlie Enright and Mark Towill could sail through the Southern Ocean’s gales in the round-the-world Volvo Ocean Race, they needed help from a Disney movie, a Turkish medical devices company and a business plan.
Buyers of debt issued by bankrupt Detroit or junk-rated Puerto Rico are finding it pays to have bond insurance. The backing is even more valuable after upgrades of units of Assured Guaranty Ltd. and MBIA Inc.
Long Island’s Oyster Bay, New York’s sixth-largest bond issuer, is trying to balance its finances after seven years of deficits. A battle between two of the biggest U.S. mall developers may wreck those plans.
Simon Property Group Inc., the world’s largest mall owner, bought a land parcel on New York’s Long Island from rival shopping-center landlord Taubman Centers Inc., which failed to develop the property.
Delegat’s Group Ltd. ’s takeover of New Zealand grape grower Oyster Bay Marlborough Vineyards Ltd. may not succeed as some of the company’s 20 biggest shareholders oppose the bid, the Dominion Post reported.