Jeffrey Immelt clinched General Electric Co.’s biggest acquisition ever, the $17 billion purchase of Alstom SA’s energy assets, after the resolution of the French government’s last condition for the deal.
U.S. stocks trimmed losses following a report that Europe’s bailout fund will pay the next installment of aid to Greece, easing concern that the nation won’t qualify for rescue funds after electing political leaders opposed to austerity measures.
U.S. stocks advanced, rebounding from earlier losses in the Standard & Poor’s 500 Index, as a rally in retail and transportation companies overshadowed concern about discussions on raising the debt ceiling.
Hedge funds grew less bullish on gold for a fourth straight week, the longest stretch since November 2012, as mounting concern that the Federal Reserve will curb monetary stimulus sent prices to a four-month low.
Hedge funds raised bullish gold wagers by the most since July and sold copper holdings as emerging-market turmoil boosted concern the global economy will slow and increased demand for precious metals as a haven.