Brazil Beef Shipper Minerva to Buy Rival Assets for $1.5 Billion
Brazil’s Minerva SA agreed to buy some assets from rival Marfrig Global Foods SA for $1.5 billion, a “pricey” deal that will create a South American beef giant. Minerva shares slumped.
Bloomberg Business
Germany Agrees on Expanded Tax Relief Measures Worth €7 billion
Germany’s ruling coalition agreed on an expanded package of tax-relief measures for companies worth about €7 billion ($7.6 billion) a year, part of a 10-point plan designed to lift Europe’s biggest economy out of stagnation.
Och Asks Sculptor to Free Bidders from Non-Disclosure Agreements
Dan Och and four other former executives of Sculptor Capital Management are again demanding the hedge fund firm release them and bidders for the company from non-disclosure agreements that prevent them from speaking publicly.
Raimondo Says US Firms See China Becoming Uninvestible
Commerce Secretary Gina Raimondo said US companies tell her that China is becoming increasingly “uninvestible” because of growing risks to doing business in the world’s second-biggest economy.
Ukraine Needs More Time to Discuss Peace Formula, Kuleba Says
Ukraine needs more time to discuss its peace formula with non-Western countries, its foreign minister said, as he pressed on with a tour of European allies to drum up support for the plan.
Modi Leads With Voters Seeing India’s Global Influence Expanding
About eight in ten Indians have a favorable view of Prime Minister Narendra Modi and most of them see the South Asian country’s global influence strengthening in recent years, according to a report by the Pew Research Center.
Chinese EV Maker Nio Reports Quarterly Loss, Slimmer Margin
Chinese electric carmaker Nio Inc. reported a wider-than-estimated loss in the second quarter as vehicle deliveries came in at the low end of the company’s target.
Wall Street Reels From Painful Month as Winning Trades Sour
A slew of interest rate-sensitive investing strategies took a beating through August as bets faded that the US Federal Reserve was on the cusp of easing monetary policy.
Scotiabank Lending Margin Shrinks, Countered by Capital Markets
Bank of Nova Scotia missed analysts’ estimates as lending margins shrank from a year earlier, countered by increased earnings at the bank’s capital-markets division.
Selling Returns to Emerging Markets as China Rally Fades
An equity rally led by China’s stimulus plans proved fleeting as emerging markets were being whipsawed on Tuesday by investor nervousness over the US economy and the dollar’s resurgence.