Daimler AG, the world’s third- biggest maker of luxury cars, will sell a 50 percent stake valued at 1.9 billion pounds ($3.2 billion) in an engine joint venture to partner Rolls-Royce Holdings Plc. to invest in its automotive and truck businesses.
Investors are the most bearish on Australian stocks since 2007 after last month’s rally pushed up valuations by the most since April and the central bank signaled a reluctance to add stimulus to the economy.
Wolfgang Kulterer, a former chief of Hypo Alpe-Adria-Bank International AG, was sentenced to one more year in an Austrian jail, the third prison sentence he received for his role in the bank’s near-failure.
Herbalife Ltd., the nutrition company that hedge fund manager Bill Ackman has accused of being a pyramid scheme, posted a 10 percent rise in fourth-quarter profit and boosted its forecast as sales gained in China.