Bill Schuette left Washington after losing his House seat in a failed bid for the U.S. Senate in 1990. He returned to his native Michigan, seeking lesser political jobs to rebuild his career. To read more, click here.
The municipal market’s biggest July decline in a decade is leading investors such as Vanguard Group Inc. to bet history is on their side as they buy with yields close to a two-year high. To read more, click here.
WHAT TO WATCH: Euro-area manufacturing expanded at a faster pace than initially estimated in July. President Barack Obama added Donald Kohn to the list of candidates for next chairman of the Federal Reserve. China’s government pledged to prevent growth from slipping below a “reasonable” level. U.K. manufacturing growth accelerated more than forecast in July as domstic [...]
NEWS: The Fed warned of persistently low inflation and pledged to keep buying $85 billion in bonds a month. China’s manufacturing PMIs gave a mixed picture. Europe’s leaders should brce for four more years of unbendig German policies, a senior lawmaker said. To read more, click here.
Mergers Deal Roster: Health Management Takeover Is Bank of America’s Second Big Hospital Deal in Two Months
For the second consecutive month, Bank of America Corp. helped a U.S. hospital chain with a multi-billion-dollar acquisition. To read more, click here.
Detroit’s plan to cut its $18 billion in debt would be due March 1 if the city survives an effort by creditors to throw it out of bankruptcy, according to a schedule proposed by the judge in the case. To read more, click here.
NEWS: China’s Politburo pledged to stabilize growth while pressing on with economic reforms. Silvio Berlusconi’s prosecutor asked judges to ease the maximum sentence. The $20 billion potash market is set to be freely traded after Uralkali, the biggest supplier, decided to end production restrictions that underpinned prices. To read more, click here.
WHAT TO WATCH: U.S. gross domestic product probably rose at a 1 percent annualized rate in the second quarter after a 1.8 percent gain in the previous three months, 9:30 a.m. The FOMC wraps up a policy meeting today and will probably leave the rate unchanged at 0.25 percent, 2 p.m. To read more, click here.
Two of the largest oil producers are readying the Middle East’s first big push into renewable energy, planning solar-power plants that will need more than $1.5 billion in financing by the end of 2014. To read more, click here.
Jana Partners LLC, the $6 billion activist firm run by Barry Rosenstein, took a stake in Japan Airlines Co., it said in a letter to investors obtained by Bloomberg News. To read more, click here.