Chinese carmaker BYD Co. may be getting some bad news as it prepares to start selling in the U.S. next year. A planned reduction in government subsidies and a phase-out of interest-rate controls threaten to raise costs for it and thousands of companies across China.
Federal Reserve Chairman Janet Yellen said last week that clarification on how the Volcker Rule treats collateralized loan obligations would be coming “reasonably soon.” Managers of the funds that package junk- rated buyout loans aren’t waiting to find out.
Marc Seidner, who left Pacific Investment Management Co. in a leadership shakeup triggered by Chief Executive Officer Mohamed El-Erian’s resignation, is returning to Boston as head of fixed income at money manager Grantham Mayo Van Otterloo & Co.
Brazil should return to the policies of former President Luiz Inacio Lula da Silva to boost growth, tame rising consumer prices and attract foreign investment, according to Pacific Investment Management Co.