Puerto Rico to default on some debts, will pay GO debt
SAN JUAN (Reuters) – Puerto Rico will default for the second time in five months, but will pay the bulk of $1 billion due on Jan. 4, including its most senior debt, Governor Alejandro Garcia Padilla said on Wednesday.
Fidelity boosted pre-IPO value of Twilio by 31 percent in November
BOSTON (Reuters) – Fidelity Investments, one of the largest investors in pre-IPO companies, boosted the value of Twilio Inc by 31 percent in November, as speculation builds that the provider of mobile messaging platforms may go public in 2016.
Oil down more than 3 percent on U.S. crude build; Brent near 2004 low
NEW YORK (Reuters) – Crude prices fell more than 3 percent on Wednesday, with Brent sliding toward 11-year lows, after an unusual build in U.S. stockpiles and signs Saudi Arabia will keep adding to the global oil glut.
Apple to pay Italy 318 million euros, sign tax deal – source
MILAN (Reuters) – Apple Inc will pay Italy’s tax office 318 million euros ($348 million) to settle a dispute over allegations it failed to pay taxes for six years, a source with direct knowledge of the matter said on Wednesday.
Year’s best U.S. global stock fund sees emerging markets rallying in 2016
NEW YORK (Reuters) – The year’s top-performing U.S.-listed global equities fund as rated by Morningstar sees Asian and emerging market stocks as undervalued and primed to outperform in 2016.
Icahn to buy Pep Boys for $1 billion after Bridgestone bows out
(Reuters) – Carl Icahn’s Icahn Enterprises LP has agreed to buy Pep Boys-Manny Moe & Jack for about $1 billion, the companies said on Wednesday, hours after Bridgestone Corp quit the race for the U.S. auto parts retailer.
U.S. pending home sales fall in November
WASHINGTON (Reuters) – Contracts to buy previously owned U.S. homes fell in November for the third time in four months, a signal that growth in the U.S. housing market could be cooling.
China suspends forex business for some foreign banks: sources
SHANGHAI (Reuters) – China’s central bank has suspended at least three foreign banks from conducting some foreign exchange business until the end of March, three sources who had seen the suspension notices told Reuters on Wednesday.
Julius Baer reaches preliminary deal in U.S. tax case
ZURICH (Reuters) – Julius Baer has reached an agreement in principle with U.S. authorities to settle an investigation into allegations it helped wealthy American clients evade taxes, potentially drawing a line under the Swiss bank’s biggest legal issue…
Global growth will be disappointing in 2016: IMF’s Lagarde
BERLIN (Reuters) – Global economic growth will be disappointing next year and the outlook for the medium-term has also deteriorated, the head of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wedn…
