Gus Chehayeb left his role as head of Middle East and Africa credit research for Exotix Ltd. to start a company in Dubai that will invest in regional distressed assets, a person familiar with the plan said.
Virgin Group Ltd., the investment group owned by Richard Branson, is to wind down its private- equity unit after canceling plans to raise a new fund, according to three people with knowledge of the matter.
Yingli Green Energy Holding Co., the world’s largest maker of solar panels, expects its debt burden to ease as higher shipments edge the company closer to turning a profit after three consecutive annual losses.
Investors may be rewarded for picking up the defaulted notes of Midwest Vanadium Pty over the next 12 months as the company gets funding to revive its mining business, according to Independent Credit Research LLC.
The smallest wave of municipal borrowing in three years is proving a boon for Illinois. The lowest-rated U.S. state is selling debt for the third time since February after winning the lowest bond costs since 2009.
Ford Motor Co. Chief Executive Officer Alan Mulally is lining up a substantial corporate position for his next act, probably as a board director or chairman, according to people with knowledge of his plans.