Smucker Sells $3.5 Billion Bond to Fund Hostess Deal
The J.M. Smucker Co. tapped the US investment-grade bond market on Wednesday to help finance its acquisition of Hostess Brands Inc.
Bloomberg Business
Singapore Is Winning Out Over Hong Kong, ANZ Bank CEO Says
ANZ Group Holdings Ltd. Chief Executive Officer Shayne Elliott said his customers moved more of their business to Singapore from Hong Kong in the past few years as the smaller Asia-Pacific trading hub narrows the gap to its larger rival.
Birkenstock Falls Almost 13% in Trend-Setting Debut Flop
Birkenstock Holding Plc sunk 12.6% after the sandal maker’s $1.48 billion initial public offering in a debut that could cool what had been a fledging rebound in listings.
China Consumers Are ‘Not Out of the Woods Yet,’ Bank of America Says
Chinese consumers remain downbeat about the world’s second-biggest economy, despite initial signs of improvement in recent activity data, a Bank of America Corp. survey showed.
Haven Demand Lifts Treasuries as Middle East Conflict Escalates
Treasuries delivered mixed results Wednesday, with long-dated tenors holding most of an advance driven by haven demand while hotter-than-expected US wholesale inflation data pushed short-term yields higher.
Venezuela Gets a Second Shipment of Fuel Aid From Italy’s Eni
Venezuela is getting a second boost from oil major Eni Spa with a shipment of diluent to help quench the persistent scarcity of fuel that keeps Venezuelans lining up for days at gas stations.
Rates, Yields to Stay Higher for a Long Time, Harvard’s Rogoff Warns
Former International Monetary Fund Chief Economist Kenneth Rogoff expects bond yields will remain at elevated levels for a long time and warned the Federal Reserve “still has a fight ahead” to anchor inflation expectations.
Oil Drops on Signs Israel-Hamas War Disruption Will Be Limited
Oil fell after an early-week surge on signs the Israel-Hamas war’s effect on flows will remain limited.
Tesla Taps European Stainless Steel Producer for Long-Awaited Cybertruck
Tesla Inc. is sourcing some stainless steel panels for the exterior of its new Cybertruck from Finnish supplier Outokumpu Oyj, which has worked to accommodate the electric vehicle’s unconventional design, according to people familiar with the matter.
AMLO Supports Banxico’s Decision to Reduce Hedging Program
President Andres Manuel Lopez Obrador on Wednesday said that Mexico’s central bank should stick to the reduction of its FX hedge program as announced in late August as the country has a stable currency.
