Federal Reserve Bank of Atlanta President Raphael Bostic said prospects for an inversion in the Treasury yield curve, which is widely viewed as a signal of a possible recession, would prompt him to dissent against further interest-rate hikes.

“I pledge to you I will not vote for anything that will knowingly invert the curve and I am hopeful that as we move forward I won’t be faced with that,’’ Bostic said Monday in Kingsport, Tennessee, in response to an audience question. “The market is going to do what the market does, and we have to pay attention and react.’’…

SodaStream International Ltd. Chief Executive Officer Daniel Birnbaum could collect as much as $61 million if PepsiCo Inc. completes its acquisition.

PepsiCo said Monday it agreed to pay $144 a share in cash for the Israeli maker of fizzy-drinks dispensers, which is 11 percent above SodaStream’s closing price on Friday. Birnbaum owns 137,277 shares, which would result in a $19.8 million haul, according to data compiled by Bloomberg…

SodaStream’s CEO Is Poised to Reap Up to $61 Million on PepsiCo Deal

Billionaire Pallonji Mistry has about 84 percent of his estimated $20 billion fortune locked up in a legal battle with India’s largest conglomerate.

The conflict between Mistry and the Tata Group began with a boardroom coup in 2016, when the former’s son was ousted as chairman of the latter. Mistry is one of the largest shareholders in Tata Sons Ltd., which controls the $100 billion conglomerate, and his family has since filed numerous lawsuits against the holding company’s board, alleging suppression of minority interests and governance lapses…

Indian firms have enjoyed the cheapest foreign-currency loan costs in more than a decade, but may find the tides turning as banks become more selective.

That’s the view of Sandeep Bhatt, Mumbai-based senior regional manager for India at Export Development Canada, which has been active on Indian loans including major recent deals such as NatSteel Asia Pte, a unit of Tata Steel Ltd. Spreads on investment-grade dollar loans for Indian borrowers may rise over the next six months, he said…

EpiPen, a life-saving allergy treatment widely criticized for its high price tag, will get generic competition for the first time since the autoinjector was approved more than two decades ago.

The Food and Drug Administration on Thursday cleared Teva Pharmaceutical Industries Ltd.’s generic EpiPen and EpiPen Jr. for sale, several years after the Israeli drugmaker filed for approval. Mylan NV has attempted to thwart competition from Teva, claiming that differences in how the epinephrine-injecting devices work would confuse patients. While Teva’s device isn’t identical to the EpiPen, it will be fully substitutable at the pharmacy, the FDA said…

Under the presidency of Donald Trump, the U.S. is using sanctions against its adversaries — and even some friends — like never before. The latest batch against Russia and Turkey sank emerging markets, with stocks poised for their worst month since January 2016.

Here’s a refresher of the most recent restrictions imposed by the U.S., the outlook for further sanctions and how markets have reacted…

Imagine setting aside 10 percent of your salary every year towards paying property taxes on your home. Well, that is a reality for some homeowners in the tri-state area.

Homeowners in New York City’s affluent Westchester suburb pay on average $15,000 in annual property taxes, which is comparable to about 10 percent of the average adjusted gross income of $148,775, according to Bloomberg’s analysis of 2015-2016 IRS filings, the most recent available…

Chinese investors can help reduce the country’s trade deficit with Malaysia, the Southeast Asian nation’s prime minister said in Beijing on Sunday at an event alongside Alibaba Chairman Jack Ma.

During a question and answer session with Chinese executives who expressed concerns about investing in Malaysia given its recent change in power, Prime Minister Mahathir Mohamad insisted it still welcomed companies willing to do deals that help employ the country’s workers and improve its efficiency without harming local manufacturers in industries like steel production…

Goldman Sachs-backed AirTrunk has raised A$850 million ($618 million) to fund the expansion of its two Australian datacenters and a move into Asia to take advantage of a growing cloud computing market.

Deutsche Bank AG underwrote a senior secured loan that will eventually be syndicated to a broader group of lenders, the Singapore-based startup said in a statement Monday. Its latest financing comes on top of a A$150 million six-year term loan from ING Groep NV and Natixis SA secured in February 2017, plus an unspecified amount of funding from Goldman Sachs Group Inc. and an arm of private equity giant TPG…

After years of racing to accumulate assets in the key offshore centers of Singapore and Hong Kong, the challenge for wealth managers in Asia is shifting to cities such as Manila, Jakarta and Shanghai.

Private banks that want to tap into Asia’s growing onshore wealth need to think less about regional asset totals and more about accumulating a critical mass of wealth in the individual Asian countries, according to Francesco de Ferrari, head of Asia-Pacific private banking at Credit Suisse Group AG. For the Zurich-based bank, the target is at least $10 billion in each of its 11 key markets across Asia, de Ferrari said in an interview earlier this month…

Venezuelan President Nicolas Maduro announced dramatic measures to rescue the country’s flailing economy, including a staggering 95 percent devaluation of the bolivar, in a move that will test the capacity of already beleaguered citizens to stomach even more pain.

The official rate for the currency will go from about 285,000 per dollar to 6 million, a shock that officials tried to partly offset by raising the minimum wage 3,500 percent to the equivalent of just $30 a month. While Maduro boasted in Friday night’s announcement that the International Monetary Fund wasn’t involved in the policies, aspects of the moves bore a resemblance to a classic orthodox economic adjustment, albeit with some confusing twists…

The largest commercial pension fund in Denmark is making a big bet on real estate as it adjusts its portfolio in anticipation of very low interest rates for a very long time.

Michael Bruhn, head of real estate at PFA in Copenhagen, just spent more than $1 billion on property in Germany as he adds to a real estate portfolio that’s now worth over $9 billion…

A $76 Billion Fund’s Growing Bet Shows Normal Is a Long Way Off

U.S. authorities investigating whether President Donald Trump’s former personal lawyer, Michael Cohen, committed bank and tax fraud are focusing on more than $20 million of loans obtained by taxi businesses owned by him and his family, the New York Times reported.

Federal investigators are also looking at whether Cohen violated campaign finance or other laws by helping arrange financial deals to secure the silence of women claiming they had affairs with Trump, the paper said, citing people familiar with the matter. The inquiry has entered the final stage and prosecutors were considering filing charges by the end of the month, the paper said, citing two of the people…

As former cricket star Imran Khan prepares to take his oath as Pakistan’s new prime minister Saturday, there’s one thing he must be clear about: Pakistan may be China’s friend at the moment, but the relationship could quickly turn sour.

In the next month or so, Islamabad may have to take another bailout package from the International Monetary Fund — the country’s 13th. The State Bank of Pakistan now holds just over $10 billion in foreign exchange reserves, giving enough room to buy only two months’ worth of imports…

Pakistan Should Beware an Easy Chinese Bailout

From a rising dollar to an escalating trade war, emerging Asian bonds and currencies have had nothing but trouble this year. Investors in the region are bracing for more – at least in the near-term.

A series of Bloomberg News interviews with fund managers from Pacific Investment Management Co. to Amundi SA shows that trade tensions, tariffs and elections are still seen as the main headwinds to Asian markets. What happens in China will be key, with some holding out for a stabilization in the yuan, while others say Asia’s strong economic fundamentals will offer a buffer to any volatility…

The world’s wealthiest family just got $11.6 billion richer.

Walmart Inc. reported its strongest sales in more than a decade Thursday, sending the retailer’s shares soaring as much 11 percent and boosting the fortunes of Walton family members Alice, Jim, Rob, Lukas and Christy. Their collective net worth surged to $163.2 billion as of 9:35 a.m. in New York, according to the Bloomberg Billionaires Index, a ranking of the world’s 500 richest people…

Walton Family’s Wealth Surges $11.6 Billion as Walmart Rallies

Argentina is considering proposals for additional financing that may include swaps and credit lines, according to people who met with government officials in New York this week.

Deputy cabinet chief Mario Quintana, Central Bank Vice President Gustavo Canonero and Finance Secretary Santiago Bausili told investors they are reviewing proposals but declined to give details, according to people who met with them. The people asked not to be named because the talks are private…

Canada’s most indebted province sold C$3.65 billion ($2.8 billion) of bonds in a return to debt markets after a longer-than-usual break following a change in government.

Ontario priced C$1 billion of 10-year fixed-rate securities earlier today, and followed that up shortly afterwards with a sale of C$2.65 billion of five-year floating-rate notes, a record for a domestic deal…

Ontario Debt Sale Breaks Record After Post-Election Absence

The trade dispute with the U.S. hangs like an ax over China’s economy, but for the country’s real estate developers, it’s a boon. Onshore funding is opening up and the government is once again smiling on higher prices.

Property investors should be doubly relieved: Beijing’s measures to rein in financial risk and cut developers’ access to debt have so far failed to tamp down price gains, even as they took a toll on stock prices…

It’s a Lovely Trade War for China’s Property Firms

The latest concern from liberals about the nomination of Judge Brett Kavanaugh to the U.S. Supreme Court is that he might vote to strike down state constitutional provisions and laws that bar direct funding to religious schools. It’s probably accurate, but the issue is more complicated than you might think. The state provisions can be traced in part to anti-Catholic prejudice going back 150 years or more. Under current Supreme Court doctrine, these provisions are already vulnerable to being overturned as religious discrimination – whether Kavanaugh is confirmed or not.

Midstates Petroleum Co. may soon walk away with at least some of Sandridge Energy Inc. after setting out to acquire all of it earlier this year.

Midstates is in talks to buy Sandridge’s Mississippi and Oklahoma operations, according to people familiar with the matter who asked not to be identified because it wasn’t public…

Midstates Is in Talks to Buy Some Sandridge Assets

Asian stocks largely reversed losses and U.S. equity futures climbed with Treasury yields, after China said its vice commerce minister will visit America for trade talks in late August. The dollar slipped and the yuan climbed.

Indonesian borrowers are quickly learning who their real friends are.

Their lenders are continuing to extend loans, as bond investors get cold feet amid concerns about emerging-market volatility…

Indonesia Inc. Finds Haven in Loans Amid Emerging Market Woe

From President Donald Trump’s trade deficit complaints to Chinese counterpart Xi Jinping’s concerns about U.S. efforts to contain his country’s rise, a lot divides the leaders of the world’s two largest economies.

But if you lay aside the overarching disputes, five specific sticking points come up over and over among the diplomats, executives and trade negotiators seeking to end the trade war between Washington and Beijing. Problem is, resolving any one of them would require China to rethink a development model that has made the country rich and kept the Communist Party in power long past the Cold War…

Hong Kong’s currency interventions continued overnight, taking this week’s total to HK$16.8 billion ($2.1 billion).

The Hong Kong Monetary Authority bought HK$14.6 billion of local dollars on Wednesday, according to the de facto central bank’s page on Bloomberg, after the currency declined to the weak end of its trading band. The aggregate balance will fall to HK$92.6 billion, the first time since 2008 that the measure of interbank liquidity will dip below HK$100 billion…

Arnaud Vagner has been a mystery for more than three years.

Noble Group, once one of the world’s biggest commodity trading houses, characterized him as a disgruntled former junior employee behind a series of reports by Iceberg Research, an anonymous group that began attacking its accounting practices in 2015…

The Man Who Triggered a $10 Billion Commodity Collapse Finally Speaks

Edward Lampert wants to slim Sears down so it can stay standing.

Lampert, the chief executive officer of Sears as well as its largest shareholder, is proposing to use his hedge fund ESL Investments Inc. to buy the store’s Kenmore and Sears Home Improvement businesses at a valuation of around $470 million, according to a regulatory filing Tuesday…

Sears CEO Bids $470 Million for Kenmore, Home-Improvement Units

The heir presumptive to dollar Libor is gaining traction with debt issuers and banks may be ready to sell floating-rate notes linked to it within months.

That’s the view of Toronto-Dominion Bank, which was involved with managing the first two bonds ever tied to the new secured overnight financing rate. Those note sales, which both took place within the past month, raised $6 billion for the government sponsored enterprise Fannie Mae and $1 billion for the World Bank…

New Zealand’s government is poised to ban foreigners from buying residential property, making good on its promise to crack down on offshore speculators who it says are partly to blame for spiraling house prices.

The Overseas Investment Amendment Bill, which will place limitations on foreign purchasers, is due to receive its final reading in parliament later Wednesday in Wellington. Backed by all three parties that make up the government, the bill is expected to pass…

China Evergrande Group has blown past China Vanke Co. as the nation’s biggest builder by market value after a profit alert sent its shares soaring.

For billionaire Hui Ka Yan, the firm’s controlling shareholder, a 36 percent gain in share price in just four days last week meant his fortune swelled by an average of $2.4 billion a day, according to the Bloomberg Billionaires Index. On Monday, Evergrande was valued at about HK$352 billion ($44.8 billion) versus around HK$288 billion for Vanke…

Tycoon’s Fortune Grows $2.4 Billion a Day as Shares Soar

As emerging markets take a battering from Turkey’s turmoil, sending stocks and bonds toward their lowest this year, traders are positioning themselves to ride out the pain.

Traders pushed down the value of emerging market assets Monday as Turkish assets sank. The carnage in Turkey added to an already fragile landscape amid tensions between the U.S. and other major economies such as Russia and China. While some investors say bargains are already emerging, others bet the best option is to sell stocks and bonds and put their money into cash…

America never made up the growth it lost in the 2008 global financial crisis and the recession it triggered. A decade later, U.S. households are still counting the cost.

Gross domestic product remains well below what its 2007 trend would have implied and it’s unlikely the economy will ever make up that lost ground, according to research from the Federal Reserve Bank of San Francisco published Monday. The hit will cost the average American $70,000 in lifetime income, they estimate…

Credit Suisse Group AG is breaking up its international wealth-management unit into seven regions from four in another push by Chief Executive Officer Tidjane Thiam to regionalize the bank, according to people briefed on the matter.

The unit led by Iqbal Khan will give the regions more autonomy to make decisions and each will have its own management, said the people, who asked not to be identified because the change hasn’t been made public. The seven regions are Latin America, Brazil, Western Europe, Southern Europe, the Middle East, Africa, and Central and Eastern Europe…

The 223-foot yacht sat off the sunburnt Sardinia coast as top executives of Goldman Sachs climbed aboard.

It was August 2015, and Michael Daffey and John Storey arrived with their wives to cultivate a seemingly unlikely client: Lars Windhorst, a controversial German financier whose checkered history had, at least for a time, left many in financial services wary of doing business with him…