European stocks posted their biggest weekly rally since April as the Federal Reserve’s decision to reduce its monthly bond purchases increased investors’ confidence in the strength of the U.S. economic recovery.
European stocks climbed for a third straight week after the Federal Reserve unexpectedly refrained from reducing its monthly bond purchases and Lawrence H. Summers withdrew from consideration as chairman of the central bank.
Richard House, London-based head of emerging-market debt at Threadneedle Asset Management Ltd., which oversees $97 billion, said he recommends Venezuelan dollar bonds and Brazil’s local-currency debt. He spoke in a briefing in Hong Kong today.
David Ader survived a heart attack in a jet over the Atlantic, missed a chance to work at the CIA thanks to his friend the international spy, changed jobs during the worst financial crisis in a lifetime and helped upstart CRT Capital Group LLC almost double revenue in two years.
Corporate borrowing costs dropped from the highest in almost a year in Europe and credit risk fell in the U.S. before Verizon Communications Inc. meets investors to arrange what may be the biggest bond sale in history.
Gartmore Group Ltd. , the U.K. fund manager founded by the Cayzer shipping dynasty, has been sold five times over the past 20 years. Its sixth sale, being run by Goldman Sachs Group Inc., will take place without its biggest asset and liability -- star fund manager Roger Guy .