Pacific Investment Management Co., the world’s biggest bond manager, sees opportunities in Russia after investors sold out of the country during the standoff with Europe and the U.S. over Crimea. It’s throwing in the towel on Turkey.
Freddie Mac, which has sold $3.1 billion of securities sharing the risk it bears from homeowner defaults, will seek to sell debt tied to potentially riskier mortgages, according to a company executive.
China’s stocks rose for the first time in five days as Poly Real Estate Group Co. led a rally for property developers after reporting higher profit. Consumer- staples producers and phone companies also climbed.
American International Group Inc. selected Peter Fisher, a former BlackRock Inc. executive and U.S. government official, to join the board of directors as the insurer prepares for increased federal oversight.
Barclays Plc, the second-largest U.K. bank by assets, plans to solicit offers in the next month for its index business, which could fetch $400 million in a sale, people with knowledge of the matter said.