Lenders to the Gherkin tower asked a London court to settle a dispute over 140 million pounds ($236 million) from interest-rate swaps as the skyscraper prepares for a debt restructuring or sale.
Canada will probably issue its first “ultra-long” bond with a 50-year maturity during the second half of this year as it seeks to lock in rates near historic lows, according to Royal Bank of Canada.
Swiss Re AG, the second-largest reinsurer worldwide, said natural and man-made catastrophes in 2013 caused $130 billion in economic losses tied to floods, hailstorms and other events.
Stocks in Switzerland declined for the first time in four days, pushing the benchmark Swiss Market Index down from a five-year high, as shares of banks and insurers retreated.
Gasoline rose for a third day and oil fell to a three-month low as Hurricane Sandy threatened U.S. East Coast refineries and closed equity trading. Treasuries and the dollar strengthened amid increased demand for refuge.
Prudential Plc, the U.K.’s biggest insurer, agreed to buy a life insurance unit from Swiss Re AG for 398 million pounds ($621 million) in cash to expand in the U.S.
Swiss stocks declined as Holcim Ltd. and Swiss Re AG fell.
The cost of insuring a solar plant has dropped by half since 2010 as cheaper photovoltaic panels lead to lower project costs and reduced premiums.
Swiss Re AG, the world’s second- largest reinsurer, said the introduction of new risk-based rules for European insurers such as Allianz SE and Axa SA won’t boost its sales.
Most stocks in Switzerland declined, with the Swiss Market Index heading for the biggest weekly slide in 22 months, as investors awaited data on U.S. payrolls.