Chubb Corp., the insurer of corporate boards and high-end homes, said profit advanced 1.5 percent as premium revenue climbed on higher rates. The company extended by two years the term of Chief Executive Officer John Finnegan, who will stay on until the end of 2016.
Hedge funds such as Maglan Capital LP and MeehanCombs LP are helping fuel a rally in Puerto Rico debt, signaling that investors who have the most appetite for risk expect the worst may be over for the commonwealth’s bonds.
Serbia’s central bank cut borrowing costs more than most economists forecast after a three-month pause, citing confidence in the government’s fiscal restraint as inflation returned to the target band and the dinar firmed.
The European Union urged Serbia to keep on mending ties with its former province of Kosovo, as well as strengthen the judiciary, step up the fight against corruption and bolster the economy as it seeks to join the bloc.