Safeway Inc., the second-largest U.S. grocery-store chain, agreed to be bought by Cerberus Capital Management LP’s Albertsons in a deal valued at about $9.2 billion as food retailers struggle with competition from big-box rivals and warehouse clubs.
Investors are pulling money out of exchange-traded funds that buy bonds in the U.S., with the biggest outflows from government securities as they shift into stocks, signaling a willingness to delve into riskier assets.
Three former executives at Dewey & LeBoeuf LLP, once the No. 3 legal adviser to banks handling merger deals, were charged with a “blatant” $200 million fraud that spurred the largest law firm bankruptcy in history.
Facebook Inc.’s purchase of WhatsApp Inc. may be an unfair trade practice because users of the messaging service had an expectation that their data wouldn’t be collected for advertising purposes, two privacy groups said in a complaint filed with the Federal Trade Commission.
Chinese stocks in the U.S. climbed to the highest this year as Baidu Inc., owner of the nation’s biggest Internet search engine, said the country’s e-commerce industry was growing at six times the pace in the U.S.