Competitive eater and restaurant owner Jamie McDonald had no problem downing almost a dozen 11.5- ounce hamburgers in 10 minutes, or 9 pounds, 7.4 ounces of pulled pork. It’s the cost of the meat that’s making him gag.
Invesco Ltd ., owner of the Invesco, Van Kampen and PowerShares funds, said fourth-quarter profit increased 58 percent, helped by its purchase of Morgan Stanley’s mutual-funds business in June and rising equity markets.
Invesco Ltd ., the Atlanta firm whose shares have outperformed rival money managers over the past five years, may lead that group in third-quarter profit growth, helped by the purchase of Morgan Stanley’s mutual funds business.
California Governor Jerry Brown’s decision to wipe out 400 blight-fighting redevelopment agencies has increased municipal-bond defaults in the state and pushed the yield penalty on the authorities’ debt to a six-month high.